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| Acciona improves its EBITDA by 38.5% up  Spanish construction and renewable energy giant Acciona has closed the first half of 2010 with an EBITDA (gross operating margin) of 528 million Euros, 38.5% more than in the same period of the previous year, and with revenues of 3,015 million Euros, 2.8% more than in June 2009. This improvement in the results is largely due to the growth of Acciona Energy in terms of EBITDA (+60.1%) and revenues (+42.1%).Attributable net profit is 78 million Euros, meaning an increase of 10.7% in comparative terms, without taking into account the results of non-current activities corresponding to the Endesa stake. During the first half of the year a significant investment effort has been carried out in a difficult environment. Group capex reached 482 million Euros, an amount that includes 200 million Euros invested in the organic growth of the activities of Acciona Energy and 145 million in the Infrastructures division, mainly in concessions activity. Furthermore, the purchase of two cargo ships has represented a net investment of 136 million Euros in Acciona Trasmediterránea. As a consequence of this investment effort, net financial debt reached 7,898 million Euros (against 7,265 at the close of 2009) and the gearing ratio showed a slight rise from 119% to 133%. write your comments about the article :: © 2010 Construction News :: home page |