Spain's Acciona reports strong water business figures for H1
Acciona group revenues fell by 16.3 per cent to E2,764 million ($3,086 million) in the first half of 2016, owing to a decrease in energy revenues and to a lesser extent construction revenues.
Net profit jumped to €596 million ($665 million), up from €103 million ($115 million), reflecting the merger of Acciona Windpower and Nordex.
At the water business, part of Acciona's infrastructure division, revenue was up 77.2 per cent, helping to offset a decline in the division owing to the construction business. The infrastructure division, comprising construction, service, and water, recorded revenues of €1,568 million ($1,751 million), down 2.7 per cent.
Ebitda for the water business increased more than fourfold from €13 million ($15 million) to €56 million ($63 million), reflecting the expansion of international design and construction activity, and consolidation of ATLL, the company that supplies drinking water to Barcelona. Ebitda for construction rose by 10.7 per cent to €51 million ($57 million); and for service it was flat year-on-year at €11 million ($12 million). The infrastructure division overall reported ebitda growth of 69.9 per cent to €117 million ($131 million).