Acciona achieves a record portfolio of 30.3 billion euros
The project portfolio of Action It's full to the brim. The company reported today that is close to 30,300 million at the end of September, exactly 30,292 millionwhich represents 4.2% more than a year before, according to the forecast update that the company sends to the market to replace the quarterly results.
In the coming months, furthermore, this flow of projects in development will continue to increase. The firm explains in the document that it has cPre-awarded contracts pending signature for an amount of 6,492 million eurosmost of them construction and concession projects in Australia and the United States.
Regarding its financial and operational evolution, the company has highlighted that its performance until September continued in line with the trends seen in the first half of the year, although it has highlighted the acceleration in the pace of megawatt installation, with 685 MW added in the third quarter and 1.1 GW in the nine months analyzed. It has also emphasized the growth in the Infrastructure business, the prolongation of the situation of low energy resources, particularly in hydraulic generation, and the partial normalization of electricity prices in Spain which, although they remain much higher than the historical average , are lower than those of the same period of the previous year -112 euros/MWh compared to 162 euros/MWh-.
In the specific case of Activate Energythe subsidiary maintains its expectations of obtaining a gross operating result (ebitda) in the range of 1,200 to 1,300 million this year and a goal of installing 1,764 MW of capacity throughout the year. In recent months, the company has accelerated investments, incorporating new projects, such as the Forty Mile wind farm, in Canada, and has advanced the construction pace of others such as the Red-Tailed Hawk photovoltaic plants, in the United States, or Aldoga, in Australia.
Nordex
Acciona has also explained that the results obtained by the turbine manufacturer Nordexwhich has been consolidated through global integration in Acciona since April, have been characterized by the high level of facilities and the delivery of higher margin projects, which has resulted in a "significant improvement" in revenue and profitability. The company has obtained a positive gross operating result or ebitda in the third quarter of 48 million euros. In the first nine months, Nordex's revenues have reached 4,477 million, 15.6% moreand the forecast is that they will be between 5,600 and 6,100 million for the year as a whole.
In real estate, Acciona's commercial activity continued to evolve favorably and the pre-sale portfolio as of September 30, 2023 was 1,875 units, 27.3% more than in December 2022.
With respect to the investmentsAcciona's net investment cash flow during the first nine months of the year amounted to almost 3,000 million euros, of which 2,035 million were invested in Energy; 205 million in Infrastructures; 330 million in Nordex; 110 million in other activities and 253 million in real estate stocks. The firm has highlighted the construction of the MacIntyre wind farm, in Australia; and photovoltaic parks and batteries in the United States.
As for the expectations for 2023the group maintains its EBITDA target for the year as a whole, which includes the already mentioned gross operating result between 1,200 and 1,300 million from Acciona Energía, a positive contribution from Nordex and solid double-digit growth from the rest of the businesses.
