Acciona obtained a net profit of 155 million euros in the first six months of the year, resulting in a fall of 16.5% compared to the first half of 2018, which included the corporate operations that were closed last year .
In fact, in comparable terms, the profit grew by 54.4% by excluding the effect of the sale of the solar thermal business in Spain and that of Trasmediterranean in the first half of 2018.
The gross operating result (ebitda) amounted to 659 million, 6.6% above that generated in the first half of the previous year, according to the accounts sent on Monday by the group to the National Securities Market Commission (CNMV).
Without taking into account the contribution of deconsolidated assets (the solar thermal business in Spain, Trasmediterranean and Rodovia do Aço), as well as the early termination of the operation of the ATLL contract and eliminating the effect of the IFRS16 accounting standard, EBITDA increased by 16.6%
Between January and June, Acciona generated revenues of 3,570 million euros, 1.3% more.
By business areas, the energy division increased its turnover by 1.2% to 1,035 million, while ebitda decreased 0.8% to 389 million.
The international generation business increased its EBITDA by 15.2% due to the contribution of the new assets in operation, which made it possible to offset the decline in generation in Spain, which fell 16.3% after the sale of solar thermal assets and the Less production, especially hydraulic.
In the last twelve months, consolidated installed capacity increased by 309 MW with projects in Spain (83 MW), the US (85 MW), Chile (84 MW) and Ukraine (58 MW).
On the other hand, sales in the infrastructure area totaled 2,465 million, 5.8% more, and its EBITDA rose 27.5% to 251 million.
In addition, the total infrastructure portfolio (which includes the construction, industrial, water and services areas) stood at 11,548 million (6.5% more than at the end of 2018), with 67% international.
The construction and industrial business reached sales of 1,759 million, 8.3% more, and an ebitda of 201 million, 90.2% more, thanks to the execution of large international projects.
In addition, concession revenues fell 28% to 40 million and ebitda 13.2% to 21 million due, in part, to the sale of Rodovia do Aço. In the case of the water business, the turnover dropped 5% to 289 million and ebitda 76% to 13 million after the early cessation of the ATLL concession.
At the end of the semester, the real estate business increased its revenues to 56 million (281.5%) due to the acceleration of the delivery of residential developments, while the funds under management of its Bestinver management company stood at 6,007 million, 9, 6% more than at the end of 2018.
Net debt at June 30 amounted to 4,738 million, with an increase of 405 million compared to December 2018.
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