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| Acciona increases net profit in nine months to end September 2014 Acciona's attributable net profit almost doubled to €149 million in the first nine months of 2014, an increase of 98.5%, thanks to capital gains of €63 million from asset sales, and the impact of lengthening the useful life of wind farm assets, resulting in lower amortisation costs, valued at €92 million. Earnings Before Tax (EBT) rose 153.5% to €209 million. The result would have been €194 million higher if it weren't for the regulatory changes introduced in the RD-L 9/2013. The accumulated impact of all the regulatory reforms in 2013 and 2014 on EBT totalled €283 million in the first nine months of 2014. Consolidated revenues rose 0.6% in the first nine months of the year to €4,728 million and EBITDA fell 8% to €771 million. Net financial debt on September 30th 2014 was €5,921 million, down 2% compared with the end of 2013. Exchange rate movements and the marking to market of derivatives brought about a €196 million increase in net debt during the period. Without these two negative impacts, net debt would have fallen by 5.2% since the end of December 2013. Cash generation of €503 million from operating activities helped fund net ordinary capital expenditures of €320 million, which represented an increase of 19.6% year-on-year, and was mainly channelled to the Energy division's international projects. write your comments about the article :: © 2014 Construction News :: home page |