blog of Acciona · http://www.acciona.es/accionistas-e-inversores
Bienvenido al grupo de Relación con Inversores de ACCIONA en Unience. A través de este canal queremos llegar a un mayor número de inversores. Desde aquí destacaremos aquella información relevante, e intentaremos responder vuestras preguntas.
ACCIONA has released a strong set of H1 2015 results, of which the following messages are to be highlighted:
- Strong revenues and EBITDA growth, up +10% and 21% respectively, mainly due to the good performance of the Energy division
The Energy revenues grow +49%, while EBITDA is up +30%.
These strong results are mainly explained by:
- The significant improvement shown by AWP which increases more than 2.5 times vs H1 2014 and improved EBITDA by +€49m
- The good performance of the international generation business, due to the new capacity added in the LTM (+266MW) and the positive effect derived from the foreign exchange rates variations mainly related to the appreciation of the USD
- Infrastructure’s EBITDA increased by 5%: Construction (+1%), Water (+13%) and Services (+14%)
- Net debt as of June 2015 was €5,153m, 2.7% lower than as of December 2014
- Capex contention in the period: Capex of €99m, roughly 50% lower than H1 2014
Main points commented in the conference call:
- Guidance 2015E: Capex ~€300m; WC variation ~-€200m
- Real Estate: Currently analyzing alternatives for part of the perimeter of the real estate division which could include the potential listing of a socimi, the incorporation of a partner, or a combination