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.

Acciona Agua supplies water to Barcelona and surrounding areas, though desalination and other sources

Acciona Agua supplies water to Barcelona and surrounding areas, though desalination and other sources

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).


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