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19:31 on May 12 2016

ACCIONA has released Q1 2016 results

ACCIONA released its Q1 2016 results today before the market opened and hosted a conference call this morning for analysts and investors

We would highlight the following messages:

- The company’s EBITDA has been in line with Q1 2015 encouraged by the fully consolidation of ATLL concession after the acquisition of an additional 37%. This effect was partially compensated by the sharp decline of the domestic pool prices   

-The Construction division’s EBITDA was slightly above Q1 2015 mainly driven by the concession business

- Additionally, it is to be stressed Trasmediterránea’s good performance during the period, which went from a negative to a positive EBITDA. Bestinver maintained its EBITDA with respect last year with €5bn of assets under management and all despite the tough market conditions

- Furthermore, ACCIONA accounted a €42m extraordinary result due to: 1. The acquisition of an additional 37% of ATLL under book value which resullted in a capital gain. 2.  Unwinding provision due to a litigation process won by the company related to Trasmediterránea

- During Q1 2016 ACCIONA has invested around €300m, which should not be extrapolated to the entire year. To be highlighted: 1.I nvestor effort in the three renewable projects that are currently under construction. 2 The acquisition of an additional 37% stake of ATLL to BTG Pactual. 3.T he acquisition of two vessels by Trasmediterránea

- The debt has increased slightly vs. December as a result of the capex investment in the first quarter, as well as the variation of the working capital.

- FY 2016 outlook maintained

Result Report


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Wed Oct 26 18:38:14 CEST 2016