|
contents | news | |||||||||
| Acciona Net Profit Up 37% to 102 Million Euro Spanish building and energy group Acciona said net attributable profit for the first quarter of 2006 increased by 37% year-on-year to 102 million euro. EBITDA amounted to 225 million euro, 42.7% more than in 1Q05, and the EBITDA margin was 17.3%, compared with 16.0% in 1Q05. This margin improvement is due to a higher contribution by Acciona Energy, positive pool price performance in 1Q06, and the consolidation of CESA. In 1Q06, consolidated revenues increased by 32.4% to 1.303 billion euro. EBIT amounted to 148 million euro, i.e. 42.3% more than in 1Q05. The EBIT margin improved from 10.6% to 11.4%. Capital expenditure totalled 1.108 billion euro, over 5 times the amount invested in 1Q05. The highlights of the quarter were the acquisition of CESA, investment in organic growth at Acciona Energy, and higher investment in the Services and Real Estate divisions. As a result of Acciona's ongoing investment strategy, net financial debt amounted to 2.748 billion euro at 31 March 2006, so gearing was 74%; this makes Acciona one of the most solvent companies in the industry and gives it solid capacity to finance its expansion policy. write your comments about the article :: © 2006 Construction News :: home page |