- Revenues for the ACCIONA Group decreased 7.2% to €1.418 billion in Q1 2016 compared to Q1 2015, mainly due to lower energy revenues.
- EBITDA decreased slightly to €277 million, with Energy contributing the most at 77% and Construction at 19%.
- Attributable net profit increased 17.4% to €49 million, boosted by €26 million in extraordinary gains.
- Capital expenditures were €299 million, a large increase over Q1 2015, mainly for the energy, water and infrastructure divisions.
- Revenues for the first half of 2016 decreased 16.3% to €2.764 billion compared to the same period in 2015, mainly due to the deconsolidation of AWP and lower construction activity in Spain.
- EBITDA decreased 8.4% to €525 million due to lower contributions from the Energy division, while the EBITDA margin increased 1.6 percentage points to 19%.
- EBIT was €868 million, a 175.4% increase primarily from an extraordinary capital gain of €616 million related to the sale of AWP.
The document reports on ACCIONA Group's Q1 2015 results. Key points include:
- Revenues increased 9% to €1.528 billion, driven by 31.6% growth in Energy revenues.
- EBITDA grew 24.3% to €280 million due to strong Energy performance.
- Attributable net profit increased 28.5% to €42 million.
- Net debt grew slightly to €5.38 billion while equity rose 3.1% to €3.726 billion.
- Energy division revenues increased 31.6% and EBITDA grew 28.9% on strong wind and international generation results.
This document summarizes the financial results of ACCIONA Group for the first half of 2015. Key points include:
- Revenues increased 9.9% to €3,304 million driven by growth in energy business.
- EBITDA grew 21.4% to €573 million with energy contributing most at 82%.
- Attributable net profit increased 50.6% to €103 million.
- Net debt decreased 2.7% to €5,153 million while gearing improved.
- Capital expenditure declined 48.2% to €99 million mainly in energy division.
Results driven by growth in power generation and Acciona Windpower in international markets. Earnings before tax (EBT) increases 69.5% to €248 million. Ebitda increases by 14.4% to €883 million. Consolidated revenues grow 4.6% to €4,946 million.
This is ACCIONA Results Presentation 9 M 2015. Results driven by growth in power generation and Acciona Windpower in international markets. Earnings before tax (EBT) increases 69.5% to €248 million. Ebitda increases by 14.4% to €883 million. Consolidated revenues grow 4.6% to €4,946 million.
- ACCIONA reported EBITDA of €301 million in Q1 2017, an increase of 8.5% compared to Q1 2016, driven by higher contributions from the Infrastructure division.
- Revenues increased 15.2% to €1,634 million, with the Infrastructure division growing revenues across all business lines.
- Net debt increased 7.1% to €5,498 million mainly due to higher working capital and capital expenditure during the quarter.
The document reports on ACCIONA's results for the first 9 months of 2013. Key highlights include:
- Revenues declined 4.2% to €4,951 million due to decreases in the Infrastructure and Energy divisions.
- EBITDA fell 7.3% to €964 million mainly from lower results in Energy and Infrastructure.
- Net profit decreased 34.3% to €75 million compared to 9M 2012.
- The Energy division remained the largest contributor to EBITDA at 77.8% despite an 8.5% EBITDA decline.
ACCIONA reported financial results for the first quarter of 2013, with revenues increasing 1.9% to €1,621 million compared to the same period in 2012. EBITDA declined slightly by 0.5% to €327 million, due to lower results in the Energy and Infrastructure divisions being offset by improved performance in Other Activities such as Trasmediterranea. Net attributable profit grew 18% to €34 million. The Energy division continued to be the largest contributor to revenues and EBITDA, though it saw declines compared to 2012 due to regulatory changes in Spain.
- Revenues for the first half of 2016 decreased 16.3% to €2.764 billion compared to the same period in 2015, mainly due to the deconsolidation of AWP and lower construction activity in Spain.
- EBITDA decreased 8.4% to €525 million due to lower contributions from the Energy division, while the EBITDA margin increased 1.6 percentage points to 19%.
- EBIT was €868 million, a 175.4% increase primarily from an extraordinary capital gain of €616 million related to the sale of AWP.
The document reports on ACCIONA Group's Q1 2015 results. Key points include:
- Revenues increased 9% to €1.528 billion, driven by 31.6% growth in Energy revenues.
- EBITDA grew 24.3% to €280 million due to strong Energy performance.
- Attributable net profit increased 28.5% to €42 million.
- Net debt grew slightly to €5.38 billion while equity rose 3.1% to €3.726 billion.
- Energy division revenues increased 31.6% and EBITDA grew 28.9% on strong wind and international generation results.
This document summarizes the financial results of ACCIONA Group for the first half of 2015. Key points include:
- Revenues increased 9.9% to €3,304 million driven by growth in energy business.
- EBITDA grew 21.4% to €573 million with energy contributing most at 82%.
- Attributable net profit increased 50.6% to €103 million.
- Net debt decreased 2.7% to €5,153 million while gearing improved.
- Capital expenditure declined 48.2% to €99 million mainly in energy division.
Results driven by growth in power generation and Acciona Windpower in international markets. Earnings before tax (EBT) increases 69.5% to €248 million. Ebitda increases by 14.4% to €883 million. Consolidated revenues grow 4.6% to €4,946 million.
This is ACCIONA Results Presentation 9 M 2015. Results driven by growth in power generation and Acciona Windpower in international markets. Earnings before tax (EBT) increases 69.5% to €248 million. Ebitda increases by 14.4% to €883 million. Consolidated revenues grow 4.6% to €4,946 million.
- ACCIONA reported EBITDA of €301 million in Q1 2017, an increase of 8.5% compared to Q1 2016, driven by higher contributions from the Infrastructure division.
- Revenues increased 15.2% to €1,634 million, with the Infrastructure division growing revenues across all business lines.
- Net debt increased 7.1% to €5,498 million mainly due to higher working capital and capital expenditure during the quarter.
The document reports on ACCIONA's results for the first 9 months of 2013. Key highlights include:
- Revenues declined 4.2% to €4,951 million due to decreases in the Infrastructure and Energy divisions.
- EBITDA fell 7.3% to €964 million mainly from lower results in Energy and Infrastructure.
- Net profit decreased 34.3% to €75 million compared to 9M 2012.
- The Energy division remained the largest contributor to EBITDA at 77.8% despite an 8.5% EBITDA decline.
ACCIONA reported financial results for the first quarter of 2013, with revenues increasing 1.9% to €1,621 million compared to the same period in 2012. EBITDA declined slightly by 0.5% to €327 million, due to lower results in the Energy and Infrastructure divisions being offset by improved performance in Other Activities such as Trasmediterranea. Net attributable profit grew 18% to €34 million. The Energy division continued to be the largest contributor to revenues and EBITDA, though it saw declines compared to 2012 due to regulatory changes in Spain.
The document summarizes ACCIONA's financial results for the first quarter of 2014. Key points include:
- Revenues decreased 8.7% to €1,402 million due to regulatory changes in Spain negatively impacting the Energy division and lower construction activity.
- EBITDA fell 19.3% to €226 million mainly from lower contributions from Energy and Infrastructure.
- EBIT was up at €129 million due to a change in accounting for wind assets and gains from selling German renewable assets.
- Net profit was €33 million, similar to the prior year, as financial results were stable and prior year gains offset lower operating results.
H1 2016 financial results were positive overall. Revenues decreased 2.3% due to regulatory changes and market factors, while EBITDA increased 2.4% and net profit increased 12.8%. Cash flow generation was enhanced, covering dividends and acquisitions while reducing debt. Growth was achieved despite regulatory headwinds through M&A integration and operating efficiencies across business segments.
This document provides a summary of Snam's 2014 full year results and strategy update. Some key points:
- 2014 revenues were €3.566 billion, up 1.0% while EBITDA was €2.776 billion, down 1.0%. Net profit increased 30.6% to €1.198 billion.
- The acquisition of TAG was completed and the TIGF asset was effectively managed.
- A dividend of €0.25 per share is proposed for 2014.
- The 2015-2018 strategy will focus on sustainable returns through selective portfolio management, operational excellence and financial discipline.
- Priority investments in Italy include increasing transport capacity and developing new balancing services. International investments will focus
Snam’s Board of Directors, chaired by Carlo Malacarne, yesterday approved the consolidated half-year report at 30 June 2016 (subjected to a limited audit) and the consolidated results for the second quarter of 2016 (unaudited).
Operating highlights
New regulatory period with adjustments to WACC from 1 st January 2016
Gas injected into the transportation network: 34.07 billion cubic metres (+4.0%)
Number of active meters: 6.525 million (6.518 million at 30 June 2015)
Available storage capacity: 11.8 billion cubic metres (+0.4 billion cubic metres compared with 30 June 2015)
Financial highlights
Regulated revenue: €1,644 million 1 (-€78 million; -4.5%); reduction due to WACC adjustment
EBIT: €867 million (-14.3%)
Net profit: €526 million (-14.1%)
Technical investments: €526 million
Free cash flow: €508 million
Significant events
Separation of Italgas from Snam approved on 28 June 2016 by Snam Board of Directors. The closing of the entire transaction, which is subject to certain conditions precedent being met, will likely take effect by 31 December 2016
The Snam Board of Directors proposed a share buyback programme to the shareholders’ meeting called for 1 August 2016 for up to 3.5% of Snam’s share capital for a maximum amount of up to €500 million over 18 months
Snam reported solid financial results for the first half of 2015. Revenues increased 3.1% to €1.8 billion while EBITDA rose slightly to €1.4 billion. Net profit was up 9.1% to €612 million. Operational performance was also positive, with gas consumption increasing 0.8% and gas injected into the network rising 7.9% compared to the prior year period. The company generated €587 million in free cash flow for the first half of 2015. Snam remains focused on sound growth and cash flow generation while continuing investment in its gas infrastructure network.
Snam reported its third quarter 2014 results. Revenues increased slightly to 2.648 billion euros while EBITDA rose 1.3% to 2.111 billion euros. Net income increased 28% to 863 million euros. Capex also increased to 856 million euros. Snam acquired an 84.47% stake in TAG GmbH, the operator of the Trans Austria Gas pipeline, for 505 million euros. The acquisition enhances Snam's international strategy.
Gruppo Hera reported a 0.4% increase in EBITDA and a 5.3% increase in net profit for Q1 2016 despite a 5.4% decrease in revenues. Organic growth and cost efficiency measures offset 75% of the impact of lower regulated returns. Increased volumes in special waste and expansion in energy markets contributed to growth, while revenues were affected by lower energy sales and network tariffs. Strong cash flow and working capital management helped reduce net debt.
Snam's interim review for 2017 shows steady progress. Gas demand recovery in Italy continued in the first half of 2017, driven by increases in the thermoelectric and industrial sectors. Snam's financial results for the first half of 2017 show increases in revenues, EBIT, net profit and cash flow compared to the same period in 2016. This was achieved through higher volumes transported, cost efficiencies, and optimization of debt costs. Snam also continued investments in Italian gas infrastructure and acquired additional gas transportation assets. The external regulatory environment is increasingly supportive of gas and Snam's strategic focus.
- Terna reported its consolidated financial results for fiscal year 2015, with total revenues increasing 4.3% to €2,082 million driven by growth in both regulated and non-regulated activities. EBITDA rose 3.2% to €1,539 million.
- Key highlights included record electricity demand of 315 TWh and a peak demand of 59.4 GW. Renewable energy sources accounted for 40% of total generation.
- Total capex was €1,103 million, with €834 million spent on network development and €201 million on maintenance. Net debt increased to €8,003 million due to acquisitions and dividend payments.
Snam reported its third quarter 2016 results, with the following highlights:
- Weather-adjusted gas demand was up 2.3% driven by a moderate recovery in industrial production and higher thermoelectric demand.
- Capex was in line with targets at €842 million, up 5% from the first nine months of 2015.
- Revenues were €2.469 billion, down 4.2% due to a new regulatory framework.
- Net profit was €783 million, down 11.8% compared to the first nine months of 2015.
- Snam confirmed its full-year 2016 guidance and announced the acquisition of a 49% stake in Gas Connect Austria GmbH.
Hera Group reported positive financial results for the first half of 2015, with revenues increasing 6.4%, EBITDA up 2.5%, and net profit growing 11.4% compared to the same period last year. All business segments returned to revenue growth in the second quarter. Cash flow was also positive, covering dividend payments and partially funding acquisitions. The presentation provided details on financial and operating metrics for the first half by business segment.
- Revenue increased 11.6% to €199.6 million due to stable demand and good capacity utilization. EBITDA rose to €29.7 million compared to €18.8 million in the same quarter last year.
- Loss for the period improved to €-11.2 million from €-13.6 million in the prior year quarter. Loss per share declined from €-0.35 to €-0.29.
- Net debt increased to €496.7 million from €380.5 million due to investments of €69.7 million in tangible and intangible assets. The company decided not to further expand its IC substrate plant in China in the current financial year.
FY2014 and 2015-2019 Strategic Plan (26 marzo 2015)Terna SpA
Terna presented its 2015-2019 strategic plan focused on free cash flow generation to drive sustainable shareholder returns. Key elements include capex discipline with €3.2 billion planned, optimization of non-regulated activities like interconnectors and services to contribute €1.4 billion in revenues, and opex savings of €30 million annually by 2019. The plan aims to reduce net debt starting in 2017/2018 and maintain a dividend of €0.20 per share in 2015 as a basis for future dividends.
Snam presented its full-year 2016 results and 2017-2021 strategic plan update. Key highlights include:
- 2016 results met guidance with adjusted net profit of €845 million.
- The 2017-2021 plan increases investments to €5 billion, improves contributions from new activities, and maintains a solid financial structure.
- The plan focuses on innovation, efficiency initiatives, and strengthening operational excellence to support higher performance.
Snam reported lower revenues, earnings, and profits in the first quarter of 2016 compared to the same period in 2015. Revenues decreased 8.3% to €852 million, earnings before interest and taxes (EBIT) declined 15.9% to €429 million, and net profit decreased 18.2% to €266 million. Operating expenses were down slightly while capital expenditures increased. Despite lower results, free cash flow was positive at €251 million due to changes in working capital. Italian gas consumption and injections into the transportation network were up on a weather-adjusted basis.
Comgas reported strong financial and operational results for the first half of 2012. Key highlights included connecting 60 thousand new residential customers, investing R$268 million in the first semester, a 20% increase over 2011, and extending its natural gas network by 555 km. EBITDA increased 18.7% to R$318.9 million compared to the first half of 2011. A sale agreement was also signed for the sale of a 60.1% stake in Comgas to Cosan for R$3.4 billion, pending regulatory approval.
- Traffic on Ferrovial's toll motorways in Spain continued to decline due to the weak economy and high fuel prices, though signs of recovery were seen in Ireland and North America. Heathrow Airport saw a 1.8% increase in passengers.
- Revenues increased 10.2% at the Toll Motorways division due to the opening of SH-130 and a tariff increase at Chicago Skyway. EBITDA declined 26.3% due to a one-time provision reversal in 2012.
- Two Spanish toll motorway projects, Radial 4 and Ocaña-La Roda, filed for creditor protection due to lower-than-expected traffic and economic factors. Ferrovial's investments
Snam reported solid results for the first quarter of 2014, with EBIT up 2.1% and net income increasing 20.7% over the same period in 2013. A memorandum of understanding was also signed with Fluxys to combine their international gas infrastructure assets in Europe. Regulated revenues were largely unchanged while controllable costs decreased, contributing to higher earnings.
Hera’s Board of Directors approves the results for the third quarter of 2015Hera Group
The financial report as of 30 September 2015 shows improvement in all the main indicators, thanks to internal growth, external growth and the synergies deriving from integration M&A
El documento presenta los resultados financieros de la empresa para el primer trimestre de 2016. Los ingresos totales disminuyeron un 7,2% a €1.418 millones, debido principalmente a la caída de los precios de la electricidad en España. El beneficio neto atribuible aumentó un 17,4% a €49 millones, impulsado por resultados extraordinarios. El patrimonio neto aumentó ligeramente a €3.785 millones, mientras que la deuda neta creció un 4,6% a €5.396 millones.
ACCIONA Concessions is one of the leading international infrastructure operators, with a portfolio of 24 concessions across three continents worth €9 billion total investment. The concessions include 1,250 km of roads and 3,500 hospital beds. ACCIONA has a competitive advantage in complex, large-scale infrastructure projects due to its engineering expertise, reputation in the sector, global scale, and ability to develop projects through its construction division. The concessions portfolio has generated €6 billion in works and revenue is increasing, demonstrating the quality of ACCIONA's concessions model.
The document summarizes ACCIONA's financial results for the first quarter of 2014. Key points include:
- Revenues decreased 8.7% to €1,402 million due to regulatory changes in Spain negatively impacting the Energy division and lower construction activity.
- EBITDA fell 19.3% to €226 million mainly from lower contributions from Energy and Infrastructure.
- EBIT was up at €129 million due to a change in accounting for wind assets and gains from selling German renewable assets.
- Net profit was €33 million, similar to the prior year, as financial results were stable and prior year gains offset lower operating results.
H1 2016 financial results were positive overall. Revenues decreased 2.3% due to regulatory changes and market factors, while EBITDA increased 2.4% and net profit increased 12.8%. Cash flow generation was enhanced, covering dividends and acquisitions while reducing debt. Growth was achieved despite regulatory headwinds through M&A integration and operating efficiencies across business segments.
This document provides a summary of Snam's 2014 full year results and strategy update. Some key points:
- 2014 revenues were €3.566 billion, up 1.0% while EBITDA was €2.776 billion, down 1.0%. Net profit increased 30.6% to €1.198 billion.
- The acquisition of TAG was completed and the TIGF asset was effectively managed.
- A dividend of €0.25 per share is proposed for 2014.
- The 2015-2018 strategy will focus on sustainable returns through selective portfolio management, operational excellence and financial discipline.
- Priority investments in Italy include increasing transport capacity and developing new balancing services. International investments will focus
Snam’s Board of Directors, chaired by Carlo Malacarne, yesterday approved the consolidated half-year report at 30 June 2016 (subjected to a limited audit) and the consolidated results for the second quarter of 2016 (unaudited).
Operating highlights
New regulatory period with adjustments to WACC from 1 st January 2016
Gas injected into the transportation network: 34.07 billion cubic metres (+4.0%)
Number of active meters: 6.525 million (6.518 million at 30 June 2015)
Available storage capacity: 11.8 billion cubic metres (+0.4 billion cubic metres compared with 30 June 2015)
Financial highlights
Regulated revenue: €1,644 million 1 (-€78 million; -4.5%); reduction due to WACC adjustment
EBIT: €867 million (-14.3%)
Net profit: €526 million (-14.1%)
Technical investments: €526 million
Free cash flow: €508 million
Significant events
Separation of Italgas from Snam approved on 28 June 2016 by Snam Board of Directors. The closing of the entire transaction, which is subject to certain conditions precedent being met, will likely take effect by 31 December 2016
The Snam Board of Directors proposed a share buyback programme to the shareholders’ meeting called for 1 August 2016 for up to 3.5% of Snam’s share capital for a maximum amount of up to €500 million over 18 months
Snam reported solid financial results for the first half of 2015. Revenues increased 3.1% to €1.8 billion while EBITDA rose slightly to €1.4 billion. Net profit was up 9.1% to €612 million. Operational performance was also positive, with gas consumption increasing 0.8% and gas injected into the network rising 7.9% compared to the prior year period. The company generated €587 million in free cash flow for the first half of 2015. Snam remains focused on sound growth and cash flow generation while continuing investment in its gas infrastructure network.
Snam reported its third quarter 2014 results. Revenues increased slightly to 2.648 billion euros while EBITDA rose 1.3% to 2.111 billion euros. Net income increased 28% to 863 million euros. Capex also increased to 856 million euros. Snam acquired an 84.47% stake in TAG GmbH, the operator of the Trans Austria Gas pipeline, for 505 million euros. The acquisition enhances Snam's international strategy.
Gruppo Hera reported a 0.4% increase in EBITDA and a 5.3% increase in net profit for Q1 2016 despite a 5.4% decrease in revenues. Organic growth and cost efficiency measures offset 75% of the impact of lower regulated returns. Increased volumes in special waste and expansion in energy markets contributed to growth, while revenues were affected by lower energy sales and network tariffs. Strong cash flow and working capital management helped reduce net debt.
Snam's interim review for 2017 shows steady progress. Gas demand recovery in Italy continued in the first half of 2017, driven by increases in the thermoelectric and industrial sectors. Snam's financial results for the first half of 2017 show increases in revenues, EBIT, net profit and cash flow compared to the same period in 2016. This was achieved through higher volumes transported, cost efficiencies, and optimization of debt costs. Snam also continued investments in Italian gas infrastructure and acquired additional gas transportation assets. The external regulatory environment is increasingly supportive of gas and Snam's strategic focus.
- Terna reported its consolidated financial results for fiscal year 2015, with total revenues increasing 4.3% to €2,082 million driven by growth in both regulated and non-regulated activities. EBITDA rose 3.2% to €1,539 million.
- Key highlights included record electricity demand of 315 TWh and a peak demand of 59.4 GW. Renewable energy sources accounted for 40% of total generation.
- Total capex was €1,103 million, with €834 million spent on network development and €201 million on maintenance. Net debt increased to €8,003 million due to acquisitions and dividend payments.
Snam reported its third quarter 2016 results, with the following highlights:
- Weather-adjusted gas demand was up 2.3% driven by a moderate recovery in industrial production and higher thermoelectric demand.
- Capex was in line with targets at €842 million, up 5% from the first nine months of 2015.
- Revenues were €2.469 billion, down 4.2% due to a new regulatory framework.
- Net profit was €783 million, down 11.8% compared to the first nine months of 2015.
- Snam confirmed its full-year 2016 guidance and announced the acquisition of a 49% stake in Gas Connect Austria GmbH.
Hera Group reported positive financial results for the first half of 2015, with revenues increasing 6.4%, EBITDA up 2.5%, and net profit growing 11.4% compared to the same period last year. All business segments returned to revenue growth in the second quarter. Cash flow was also positive, covering dividend payments and partially funding acquisitions. The presentation provided details on financial and operating metrics for the first half by business segment.
- Revenue increased 11.6% to €199.6 million due to stable demand and good capacity utilization. EBITDA rose to €29.7 million compared to €18.8 million in the same quarter last year.
- Loss for the period improved to €-11.2 million from €-13.6 million in the prior year quarter. Loss per share declined from €-0.35 to €-0.29.
- Net debt increased to €496.7 million from €380.5 million due to investments of €69.7 million in tangible and intangible assets. The company decided not to further expand its IC substrate plant in China in the current financial year.
FY2014 and 2015-2019 Strategic Plan (26 marzo 2015)Terna SpA
Terna presented its 2015-2019 strategic plan focused on free cash flow generation to drive sustainable shareholder returns. Key elements include capex discipline with €3.2 billion planned, optimization of non-regulated activities like interconnectors and services to contribute €1.4 billion in revenues, and opex savings of €30 million annually by 2019. The plan aims to reduce net debt starting in 2017/2018 and maintain a dividend of €0.20 per share in 2015 as a basis for future dividends.
Snam presented its full-year 2016 results and 2017-2021 strategic plan update. Key highlights include:
- 2016 results met guidance with adjusted net profit of €845 million.
- The 2017-2021 plan increases investments to €5 billion, improves contributions from new activities, and maintains a solid financial structure.
- The plan focuses on innovation, efficiency initiatives, and strengthening operational excellence to support higher performance.
Snam reported lower revenues, earnings, and profits in the first quarter of 2016 compared to the same period in 2015. Revenues decreased 8.3% to €852 million, earnings before interest and taxes (EBIT) declined 15.9% to €429 million, and net profit decreased 18.2% to €266 million. Operating expenses were down slightly while capital expenditures increased. Despite lower results, free cash flow was positive at €251 million due to changes in working capital. Italian gas consumption and injections into the transportation network were up on a weather-adjusted basis.
Comgas reported strong financial and operational results for the first half of 2012. Key highlights included connecting 60 thousand new residential customers, investing R$268 million in the first semester, a 20% increase over 2011, and extending its natural gas network by 555 km. EBITDA increased 18.7% to R$318.9 million compared to the first half of 2011. A sale agreement was also signed for the sale of a 60.1% stake in Comgas to Cosan for R$3.4 billion, pending regulatory approval.
- Traffic on Ferrovial's toll motorways in Spain continued to decline due to the weak economy and high fuel prices, though signs of recovery were seen in Ireland and North America. Heathrow Airport saw a 1.8% increase in passengers.
- Revenues increased 10.2% at the Toll Motorways division due to the opening of SH-130 and a tariff increase at Chicago Skyway. EBITDA declined 26.3% due to a one-time provision reversal in 2012.
- Two Spanish toll motorway projects, Radial 4 and Ocaña-La Roda, filed for creditor protection due to lower-than-expected traffic and economic factors. Ferrovial's investments
Snam reported solid results for the first quarter of 2014, with EBIT up 2.1% and net income increasing 20.7% over the same period in 2013. A memorandum of understanding was also signed with Fluxys to combine their international gas infrastructure assets in Europe. Regulated revenues were largely unchanged while controllable costs decreased, contributing to higher earnings.
Hera’s Board of Directors approves the results for the third quarter of 2015Hera Group
The financial report as of 30 September 2015 shows improvement in all the main indicators, thanks to internal growth, external growth and the synergies deriving from integration M&A
El documento presenta los resultados financieros de la empresa para el primer trimestre de 2016. Los ingresos totales disminuyeron un 7,2% a €1.418 millones, debido principalmente a la caída de los precios de la electricidad en España. El beneficio neto atribuible aumentó un 17,4% a €49 millones, impulsado por resultados extraordinarios. El patrimonio neto aumentó ligeramente a €3.785 millones, mientras que la deuda neta creció un 4,6% a €5.396 millones.
ACCIONA Concessions is one of the leading international infrastructure operators, with a portfolio of 24 concessions across three continents worth €9 billion total investment. The concessions include 1,250 km of roads and 3,500 hospital beds. ACCIONA has a competitive advantage in complex, large-scale infrastructure projects due to its engineering expertise, reputation in the sector, global scale, and ability to develop projects through its construction division. The concessions portfolio has generated €6 billion in works and revenue is increasing, demonstrating the quality of ACCIONA's concessions model.
This document provides an overview of ACCIONA's 2015 Integrated Report. It begins with an introduction to ACCIONA as a leading group in sustainable solutions for infrastructure and renewable energy projects worldwide. It then discusses ACCIONA's key metrics and milestones in 2015, including financial results, investments, and strategic agreements. The rest of the report details ACCIONA's business activities in energy, infrastructure, and other sectors, and discusses its mission, vision, and commitment to sustainability. It aims to give stakeholders a transparent view of how ACCIONA creates long-term value through its renewable operations and infrastructure projects.
ACCIONA is a leading global company that develops sustainable infrastructure and renewable energy projects. It operates in over 30 countries with a focus on wind, solar, hydro, and biomass energy generation as well as water treatment, construction, and concessions. ACCIONA aims to contribute to economic and social development wherever it operates through projects like power generation facilities, rail and road construction, and desalination plants.
A ACCIONA é um grupo líder em soluções sustentáveis para infraestruturas e projetos de energia renovável presente em mais de 30 países, focando suas atividades em energia renovável, infraestrutura e gestão de água de forma socialmente responsável.
ACCIONA ENERGY IN SOUTH AFRICA: A BUSINESS STRATEGY WITH SOCIAL VALUEacciona
The purpose of this study is to show the ACCIONA Energy’s activity footprint in South Africa. The sustainable behavior of ACCIONA Energy requires the consideration of socio-economic and environmental aspects.
This study has been developed following a methodology based on an Input / Output coefficients approach derived from Leontief’s studies, with the support of EY know-how.
ACCIONA ENERGIA EN MÉXICO: UNA ESTRATEGIA EMPRESARIAL CON VALOR SOCIALacciona
Este documento describe la estrategia de ACCIONA Energía en México para promover el desarrollo de energías renovables de manera sostenible. ACCIONA Energía ha instalado más de 850 MW de capacidad eólica en México, lo que genera empleos y contribuye al PIB. Su objetivo es apoyar la transición energética de México mediante la producción de electricidad limpia y competitiva procedente de fuentes renovables.
Este documento describe la evolución del sector de energías renovables y la historia y estrategia de internacionalización de Acciona Energía. Resume la evolución del mercado español e internacional de energías renovables, la historia de Acciona desde 1862, y analiza las estrategias, causas y características de la internacionalización de Acciona a través de la compra de empresas en países como EE.UU., Alemania y Australia para consolidar su liderazgo mundial en energías renovables.
Presentation of Juan Muro-Lara, ACCIONA's Chief Corporate Development & IR Officer on Spain Investors Day 2016 (April 12-13 in Madrid).
Presentación de Juan Muro-Lara, Director General de Desarrollo Corporativo y Relación con Inversores de ACCIONA, en el marco del Spain Investors Day 2016 que se celebró el 12 y 13 de abril 2016 en Madrid.
La Memoria de Sostenibilidad 2015 de ACCIONA describe su desempeño en materia de sostenibilidad durante el año. En 2015, ACCIONA invirtió cerca de siete millones en su plan de acción social, continuó apostando por la innovación a través de 876 millones de euros invertidos en I+D+i, y reforzó su compromiso con la sostenibilidad a través de su nuevo Plan Director hasta 2020, que tiene como objetivo que ACCIONA sea una compañía neutra en carbono. La memoria explica los logros alcanzados en diferentes áreas
Silvia Jimenez Herrera, ingeniera de I+D en ACCIONA Agua, presenta la ponencia “Novel Process for Produced Water Polishing: Enhanced Flotation Combined With Advanced Oxidation Processes’ durante la conferencia anual que la asociación europea de desalación ha celebrado en Roma entre los días 22-26 de mayo de 2016.
Speech of Jose Manuel Entrecanales in the GMSacciona
1) ACCIONA had a positive 2015, overcoming difficult situations in recent years through an action plan that strengthened the company financially and organizationally.
2) Key financial figures for 2015 include €6.5 billion in revenue, €1.17 billion in EBITDA, and €207 million in net profit.
3) ACCIONA is well positioned to benefit from increasing global investment in renewable energy driven by commitments to reduce greenhouse gas emissions and decarbonize the economy.
Potential Innovations in Conventional Desalination Systemsacciona
Durante la celebración de la 13º Edición de IWA Leading Edge Conference on Water and Wastewater Technologie Iwa-LET 2016 que se está celebrando estos días en Jerez, Marina Arnaldos y Beatriz Corzo realizaron una ponencia dentro de un taller sobre desalación sostenible.
On occasion of the 13th IWA Leading Edge Conference on Water and Wastewater Technologies (IWA-LET 2016), which is being held in Jerez, Marina Arnaldos and Beatriz Corzo presented two papers in a workshop on sustainable desalination.
Construcción y Operación del Abastecimiento de Agua de Mar para la Minería d...acciona
"Construcción y Operación del Abastecimiento de Agua de Mar para la Minería del Valle de Copiapó", ponencia de Ramón Arbós Sans, Gerente de operaciones en ACCIONA Agua en Expo Agua 2016.
Advanced oxidation processes to recover reverse osmosis cleaning watersacciona
Marina Arnaldos, responsable de desalación de desalación y nuevas tecnologías de ACCIONA Agua, presentó la ponencia “Advanced oxidation processes to recover reverse osmosis cleaning waters for irrigation purposes” en la conferencia anual que la asociación europea de desalación ha celebrado en Roma entre los días 22-26 de mayo de 2016.
- The document is a report summarizing the financial results of ACCIONA Group for the first half of 2014.
- Key highlights include revenues decreasing 2.5% to €3.005 billion mainly due to regulatory changes impacting the energy division. EBITDA fell 16.3% to €472 million also impacted by energy division performance.
- Net profit increased 42.9% to €68 million helped by asset sales and accounting changes extending useful life of wind farms.
HeidelbergCement reported its 2015 full year results and 2016 outlook. Key points:
- 2015 was the best year since the financial crisis with EBITDA up 14% to €2.6 billion and group profit up 65% to €800 million.
- Net debt was reduced to €5.3 billion, significantly below the target of 2.5x leverage.
- The Italcementi acquisition remains on track with synergy potential increased to €400 million.
- Outlook for 2016 is for mid to high single digit organic growth in revenues, EBITDA, and operating income.
Terna reported its consolidated results for the first half of 2016. Revenues increased 3.8% to €1,040 million driven by higher regulated transmission activities. EBITDA rose 1.4% to €777 million and group net income increased 4.8% to €325 million. Total capex was €347 million, down from €439 million in 1H15. Net debt was €8.172 billion as of June 30, 2016. For the full year 2016, Terna expects EBITDA of approximately €1.53 billion, EPS of around €0.29, and capex of approximately €0.9 billion.
The complete presentation “First half 2011 results”BOURBON
Bourbon reported its financial results for the first half of 2011, showing increases in revenue, operating income, and fleet size compared to the same period last year. The number of owned vessels grew 9% to 424 ships. Revenue increased 18.8% to 482.7 million euros, while operating income rose 19.9% to 43.1 million euros. However, net income was impacted by foreign exchange losses from the weakening euro. Bourbon's marine and subsea services divisions all saw revenue and profitability improvements.
The document summarizes Generali Group's 1Q 2016 financial results. Key highlights include:
- Operating result decreased 12.3% to €1,163 million due to lower realized investment gains.
- Net result decreased 13.8% to €588 million, following the trend of the operating result.
- Shareholders' equity increased 5.8% to €24.9 billion due to higher unrealized gains and the quarter's result.
- Solvency II ratio (internal model view) was 188%, down from 202% at year-end 2015.
- Veolia reported strong financial results in 2014 with revenue growth of 4.9% to €23.88 billion, adjusted operating cash flow growth of 17.3% to €2.164 billion, and adjusted operating income growth of 23.2% to €1.108 billion.
- Net financial debt was further reduced from €8.444 billion to €8.311 billion despite negative currency impacts.
- Veolia expects another year of strong earnings improvement in 2015 and confidence in achieving its cost savings targets and maintaining dividend policy.
- Revenue increased 11.2% to €222.1 million due to additional capacities in Chongqing and strong demand for IC substrates.
- EBITDA rose 75.4% to €52 million thanks to higher earnings from Chongqing and positive valuation effects. The EBITDA margin increased to 23.4%.
- Profit for the period improved to €13.5 million compared to a loss of €11.2 million in the prior year, as investments in recent years increased productivity.
- ACCIONA generated €1,192 million in EBITDA in FY2016, a 1.5% increase over FY2015. Revenues declined 8.7% due to lower power prices in Spain, which Infrastructure and Other Activities partially offset.
- Net income increased 70% to €352 million due to positive extraordinary items of €721 million from the contribution of AWP to Nordex, partially offset by €626 million in negative extraordinary items.
- Net debt declined slightly while equity increased 9.1%, lowering financial leverage to 4.31x. Capex increased to €852 million primarily in Energy to grow the project pipeline.
TIM Interim management report at September 30, 2016Gruppo TIM
The Telecom Italia Group reported consolidated revenues of 13.9 billion euros for the first nine months of 2016, down 6.3% from the same period in 2015. EBITDA increased 4.6% to 5.9 billion euros due to cost savings, with the EBITDA margin up 4.4 percentage points to 42.2%. Profit attributable to owners of the parent more than quadrupled to 1.5 billion euros compared to 0.4 billion euros in the first nine months of 2015. Adjusted net financial debt declined slightly to 26.7 billion euros at the end of September 2016.
- Sales growth of 11.8% to EUR 366.1 million in Q3 2015, with organic growth of 5.8% despite additional costs of EUR 12 million due to high capacity utilization.
- Clean EBIT pre PPA was EUR 36.7 million, down from EUR 42.1 million primarily due to strong Aftermarket business.
- Integration of M&W acquisition is on track, contributing EUR 9.4 million in sales and EUR 0.4 million in EBIT.
- Outlook for 2015 expects global car production growth in low single digits, with additional costs of EUR 8-18 million in Q4 2015. Forecast includes 5-7%
Elringklinger - Conference Call Q1 2014 Presentation Company Spotlight
Group sales were up 15.3% in Q1 2014 compared to Q1 2013, with organic growth of 13.4%. EBIT increased 28.4% to EUR 42.1 million despite higher expenses. The exhaust abatement division performed strongly with sales up 9.7% and EBIT increasing to EUR 7.7 million. For 2014, the company expects overall car production to increase 2-3% worldwide and guides for sales growth of 5-7% and adjusted EBIT of EUR 160-165 million.
The Hera Group approved positive third quarter 2016 results, with improvements in key economic indicators. Revenues decreased 4.4% to €3.1 billion due to regulatory changes and lower energy prices. However, EBITDA increased 1.6% to €650.6 million through contributions from new acquisitions and growth in electricity. Net profits for shareholders rose 13.8% to €142.2 million through improved financial management and lower debt. Investments totaled over €250 million to support infrastructure upgrades and expansion, while the net financial position improved to €2.6 billion.
- AT&S, a manufacturer of high-end printed circuit boards and IC substrates, increased revenue and profits in the first half of the 2018/19 fiscal year compared to the same period last year. Revenue grew 6.4% to €516.9 million driven by additional capacity from new Chinese plants and strong demand for IC substrates.
- EBITDA improved 32.5% to €138.3 million due to the positive contributions from the Chinese plants, and the EBITDA margin increased to 26.8%. Net profit more than tripled to €55.4 million.
- The company upgraded its full-year guidance, now expecting 6-8% revenue growth and an EBITDA margin of
Presentazione risultati primi nove mesi 2016Italiaonline
IL CONSIGLIO DI AMMINISTRAZIONE DI ITALIAONLINE APPROVA IL RESOCONTO INTERMEDIO DI GESTIONE AL 30 SETTEMBRE 2016
I RISULTATI DEI PRIMI NOVE MESI CONFERMANO IL TREND POSITIVO DEL PRIMO SEMESTRE 2016: EBITDA +36,5%, FREE CASH FLOW +231,8% E UTILE DEL PERIODO A € 35,2 MILIONI IN FORTE MIGLIORAMENTO DI € 46,9 MILIONI
***
RISULTATI DI GRUPPO
RICAVI pari a € 295,6 milioni
EBITDA pari a € 55,4 milioni
EBITDA margin pari al 18,7%
FCF pari a € 48,8 milioni
UTILE NETTO del periodo pari a € 35,2 milioni
POSIZIONE FINANZIARIA NETTA positiva per € 111,6 milioni
***
Assago, 9 novembre 2016 – Il Consiglio di Amministrazione di Italiaonline S.p.A. (di seguito “Italiaonline”) ha approvato il resoconto intermedio di gestione al 30 settembre 2016.
Antonio Converti, Amministratore Delegato di Italiaonline, ha commentato:
“I risultati dei primi nove mesi 2016 confermano il trend positivo del primo semestre, con i principali indicatori economico-finanziari (EBITDA, Free cash flow, Posizione Finanziaria Netta) in netto miglioramento.
In linea con la strategia del Gruppo di rinnovare il portafoglio prodotti nel mese di ottobre Italiaonline ha completato il lancio dei nuovi prodotti pensati per la digitalizzazione delle piccole e
medie imprese.
Dalla gestione coordinata della presenza in rete (IOL Connect), allo sviluppo di siti internet in HTML5 (IOL Website), fino alla gestione integrata delle campagne marketing online (IOL Audience), confermando così il ruolo di Italiaonline come principale attore di questo importante processo di trasformazione del nostro Paese.
Infine, anche nel corso del quarto trimestre la Società proseguirà nel percorso di riduzione dei costi operativi a sostegno della marginalità.”
Significant recovery in activity: +18.8%
Sharp increase in EBITDA (+19.3% sequentially) to 142.1 million euros
Net loss, Group share of 21.4 million euros owing to the change in the dollar exchange rates, generating 30.5 million euros in net financial expenses
- Group sales increased 12.6% year-over-year to EUR 333.5 million in Q2 2014, with organic growth of 10.2% outperforming world car production. Higher tooling sales were in preparation for production ramp-ups.
- EBIT increased 1.2% to EUR 41.5 million including EUR 0.9 million from purchase price allocations.
- For 2014, the company expects organic sales growth of 5-7% and adjusted EBIT of EUR 160-165 million, with continued regional divergence in automotive markets.
Bolsas y Mercados Españoles (BME) reported a 16.2% increase in net profit for the first nine months of 2014 to €122.2 million, with €38.5 million in net profit for the third quarter alone. Revenues for the third quarter rose 9.6% year-over-year to €79.5 million, while revenues for the first nine months increased 10.2% to €249 million. Operating costs for the third quarter grew 2.5% to €24.2 million and remained relatively flat at €74.2 million for the nine month period. EBITDA increased 13.1% in the third quarter to €55.3 million and 15
CIECH reported financial results for the first three quarters of 2016, with adjusted EBITDA rising 11.5% year-over-year to PLN 646.9 million. Revenue increased 3.6% to PLN 2,547.5 million. The soda segment performed well due to higher sales volumes and prices as well as lower energy costs. While some segments faced challenges like lower sales volumes, overall the company exceeded consensus forecasts for revenue and profits. CIECH expects further revenue growth through expanding product portfolios and global markets in coming quarters.
- Metso's orders received increased 1% in Q3 and 7% in the first three quarters of 2019 compared to the previous year. Sales grew 19% in Q3 and 17% in the first three quarters.
- Adjusted EBITA (earnings before interest, taxes and amortization) improved in both periods due to higher sales volumes and good operational efficiency, rising to EUR 131 million in Q3 and EUR 356 million in the first three quarters.
- Earnings per share increased to EUR 0.49 in Q3 and EUR 1.52 in the first three quarters, driven by improved earnings.
Présentation des résultats financiers Sony Ericsson (Q2 2010)Ericsson France
Sony Ericsson reported its second quarter 2010 results. Income before taxes excluding restructuring charges increased to Euro 63 million. Sales increased 25% sequentially and 4% year-over-year to Euro 1,757 million. Units shipped increased 5% sequentially but decreased 20% year-over-year. Average selling price increased 19% sequentially and 31% year-over-year to Euro 160 due to improved product mix and currency effects. The company maintained its forecast of slight growth in the global handset market for 2010.
We are entering an era of multiple changes that will define the future of society and the relationship with the environment. Join us in this journey, in which regenerative infrastructures are playing a vital role, in a new issue!
Revista ACCIONA 77: Ferrocarril para cambiar de destinoacciona
Nos adentramos en una era de cambios, donde las infraestructuras juegan un papel definitivo en la composición del futuro de la sociedad y de su relación con el planeta. Descubre estos cambios, que impulsamos en ACCIONA, en una nueva edición de nuestra revista.
ACCIONA Magazine 76: the Global Challenge of Access to Wateracciona
The planet is already thirsty. What is going to happen when population grows and climate crisis worsens? Sustainable
Development Goal 6, a basic human right, can be achieved through engineering, legislation and investment.
Revista ACCIONA 76: El reto global del acceso al #aguaacciona
Si el planeta pasa sed hoy, ¿qué no ocurrirá cuando crezcan
la población y la emergencia climática? El ODS 6, un derecho
humano, puede cumplirse con ingeniería, legislación e inversión.
ACCIONA Magazine 75: Sustainable economy, the solution to the crisisacciona
In this ACCIONA Magazine edition, we talk about the world's current challenges and the solutions to solve them. It's time to act and to invest in a green recovery.
Revista ACCIONA 75: Economía sostenible, la solución anticrisisacciona
El documento habla sobre la importancia de aprovechar la oportunidad que presenta la crisis del coronavirus para acelerar la transición hacia una economía más sostenible. Menciona que la pandemia y el cambio climático comparten algunas causas y soluciones, por lo que los esfuerzos para la recuperación económica pospandemia deben enfocarse en proyectos sostenibles. También resalta el potencial de los desiertos para la generación de energía renovable a gran escala.
H1 2020 key results presentation. Full COVID impact seen in Q2 with revenues down 15% and EBITDA down 29% versus last year. Infrastructure most impacted, with construction and non-essential services temporarily suspended. Signs of gradual recovery since April. Measures implemented through pandemic protection plan including liquidity boost, cost reductions, asset disposals, and capex deferrals. Business plan remains on track with energy projects progressing and new infrastructure contract awards.
Este documento presenta los resultados financieros de la compañía para el primer semestre de 2020 (enero a junio). Incluye secciones sobre sostenibilidad, estados financieros consolidados, resultados por división (energía, infraestructuras, otras actividades), hechos relevantes, dividendos, y anexos con detalles adicionales. Los resultados se vieron afectados negativamente por la pandemia COVID-19, con un impacto estimado de €468 millones en ingresos y €140 millones en EBITDA. La compañía opera en energía renovable
- Revenues for H1 2020 were €3,042 million, down 14.8% from H1 2019, due to effects of the COVID-19 pandemic which negatively impacted the Energy and Infrastructure divisions.
- EBITDA was €499 million, down 29.1% from H1 2019, also affected by COVID-19.
- Attributable net profit was €22 million, 85.7% lower than H1 2019, reflecting the impact of COVID-19 and losses from an investment in Nordex that more than doubled.
- Net financial debt increased by €402 million compared to December 2019, due to COVID-19 effects and investments during the period, with most capex directed
- ACCIONA's energy business operations have continued resiliently despite challenging market conditions from COVID-19, with excellent safety and availability performance. Projects under construction are mostly on track with some potential delays.
- The construction business expects a material impact on 2020 production and higher costs due to new health and safety practices, but is well positioned to benefit from expected investment-led economic recovery.
- Most infrastructure projects across regions have continued with some level of work suspension, but the majority have restarted with more restrictive health and safety protocols.
The document reports ACCIONA's Q1 2020 results. Key highlights include:
- Revenues decreased 5.1% to €1,622 million due to lower energy sales and a small drop in other activities.
- EBITDA remained flat at €325 million as growth in energy and other activities offset an Infrastructure division decline.
- Attributable net profit increased 6.9% to €78 million due to higher earnings and a reversal of prior impairment charges.
- Net debt rose 5.8% to €5,200 million due to intensive investment activity, notably €284 million spent on new renewable capacity.
Este documento presenta los resultados financieros y operativos del primer trimestre de 2020 del Grupo ACCIONA. Los ingresos totales fueron de €1,622 millones, un 5.1% menos que en el mismo periodo de 2019. El EBITDA fue de €325 millones, en línea con 2019. La inversión neta ordinaria fue de €316 millones, principalmente en nueva capacidad renovable. La deuda neta alcanzó €5,621 millones, un aumento de €304 millones debido a la intensa actividad inversora del trimestre.
Este documento presenta los resultados financieros de ACCIONA para 2019. Incluye notas legales sobre el uso y distribución del documento, así como advertencias sobre declaraciones de futuro. También contiene información importante sobre ofertas de valores y una lista de medidas alternativas de rendimiento.
ACCIONA reported its financial results for fiscal year 2019, from January to December. Key highlights included:
- Revenue of €7.191 billion, down 4.2% from 2018.
- EBITDA of €1.357 billion, up 9% from 2018.
- Net profit of €352 million, up 7.2% from 2018.
- Total investment of €1.241 billion, focused on renewable energy and infrastructure.
- Net financial debt of €4.915 billion, within financial policy thresholds.
ACCIONA reported revenues of €7.19 billion in 2019, down 4.2% from 2018. EBITDA increased 9% to €1.36 billion due to growth in the Energy division, partly offset by lower revenues in Energy and Other Activities. Attributable net profit grew 7.2% to €352 million, or 60.3% excluding corporate transactions. Net debt increased 13.4% to €4.92 billion due to investment in renewable capacity and infrastructure projects. ACCIONA invested €1.03 billion in projects including 835MW under construction, exceeding 10GW total installed renewable capacity.
El documento presenta los resultados financieros de ACCIONA para el año 2019. Los principales puntos son:
- Los ingresos fueron de €7.191 millones, un 4,2% menos que en 2018, debido principalmente a menores ventas en Energía.
- El EBITDA aumentó un 9,0% hasta €1.357 millones, impulsado por el crecimiento en Energía internacional y Construcción.
- La inversión neta ordinaria fue de €1.031 millones, destinada principalmente a nueva capacidad renovable y a la concesión
The document discusses ACCIONA's commitment to sustainability and solutions to environmental challenges. It highlights ACCIONA's leadership in renewable energy through innovation in engineering, construction, generation, operation and maintenance of wind and solar projects. It also discusses ACCIONA's comprehensive approach to infrastructure development which assesses all impacts and maximizes social value. In water management, ACCIONA is leading in desalination membranes and biological reactors for wastewater treatment to address issues of water scarcity and population growth.
Una nueva edición de nuestra revista, centrada en la Conferencia de Naciones Unidas sobre el Cambio Climático, COP25, celebrada en Madrid, y en la que ACCIONA participa de forma activa. Descubre cómo.
AI Transformation Playbook: Thinking AI-First for Your BusinessArijit Dutta
I dive into how businesses can stay competitive by integrating AI into their core processes. From identifying the right approach to building collaborative teams and recognizing common pitfalls, this guide has got you covered. AI transformation is a journey, and this playbook is here to help you navigate it successfully.
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Discover the Beauty and Functionality of The Expert Remodeling Serviceobriengroupinc04
Unlock your kitchen's true potential with expert remodeling services from O'Brien Group Inc. Transform your space into a functional, modern, and luxurious haven with their experienced professionals. From layout reconfiguration to high-end upgrades, they deliver stunning results tailored to your style and needs. Visit obriengroupinc.com to elevate your kitchen's beauty and functionality today.
The report *State of D2C in India: A Logistics Update* talks about the evolving dynamics of the d2C landscape with a particular focus on how brands navigate the complexities of logistics. Third Party Logistics enablers emerge indispensable partners in facilitating the growth journey of D2C brands, offering cost-effective solutions tailored to their specific needs. As D2C brands continue to expand, they encounter heightened operational complexities with logistics standing out as a significant challenge. Logistics not only represents a substantial cost component for the brands but also directly influences the customer experience. Establishing efficient logistics operations while keeping costs low is therefore a crucial objective for brands. The report highlights how 3PLs are meeting the rising demands of D2C brands, supporting their expansion both online and offline, and paving the way for sustainable, scalable growth in this fast-paced market.
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Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...Adani case
Time and again, the business group has taken up new business ventures, each of which has allowed it to expand its horizons further and reach new heights. Even amidst the Adani CBI Investigation, the firm has always focused on improving its cement business.
The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
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Business analysis - Prescriptive analytics Introduction to Prescriptive analytics
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2. Q1 2016 Results (January – March)
2
CONTENTS
1. EXECUTIVE SUMMARY
2. CONSOLIDATED INCOME STATEMENT
3. CONSOLIDATED BALANCE SHEET
4. RESULTS BY DIVISION
4.1. Energy
4.2. Infrastructure
4.3. Other activities
5. ANNEX 1: MATERIAL INFORMATION, DIVIDENDS AND
SHARE DATA
5.1. Significant communications to the stock market
5.2. Dividend
5.3. Share data and share price performance
6. ANNEX 2: MWs AND PRODUCTIONS
7. ANNEX 3: TRANSPORT AND HOSPITAL CONCESSIONS
8. ANNEX 4: WATER CONCESSIONS
9. ANNEX 5: SUSTAINABILITY
9.1. Sustainability indexes
9.2. Sustainability events during the period
10. CONTACT
3. Q1 2016 Results (January – March)
3
In accordance with Regulation 1606/2002 of the European Parliament and
of the Council of 19th
July 2002, for each financial year starting on or after
1st
January 2005, companies governed by the law of a Member State must
prepare their consolidated accounts in conformity with the International
Financial Reporting Standards (IFRS) adopted by the European Union if their
securities are admitted to trading on a regulated market.
The ACCIONA Group's consolidated financial statements are presented in
accordance with the International Financial Reporting Standards (IFRS)
approved by the European Parliament to date. The financial statements
were based on the individual accounts of ACCIONA, S.A. and its Group
companies and they include the necessary adjustments and reclassifications
to adapt them to IFRS.
ACCIONA reports in accordance with its corporate structure, which
comprises three divisions:
Energy comprises commercial and industrial activities that range from
the manufacturing of turbines, construction of wind farms to the
generation, distribution and marketing of its different energy sources
Infrastructure:
– Construction includes construction, industrial and engineering
activities as well as mainly transport and hospital concession
activities
– Water includes the construction of desalination, water and
wastewater treatment plants, as well as integral water services
management from bulk water abstraction all the way to discharging
treated wastewater to the environment. ACCIONA Agua also operates
water concessions across the entire water cycle
– Services include the activities of facility services, airport handling,
waste management and logistic services amongst others
Other activities includes the businesses of Trasmediterranea, real estate,
Bestinver, wineries and other businesses
4. Q1 2016 Results (January – March)
4
1. EXECUTIVE SUMMARY
Income Statement Data
(Million euro) Jan-Mar 15 Jan-Mar 16 Chg. (%)
Revenues 1,528 1,418 -7.2%
EBITDA 280 277 -1.0%
EBIT 149 170 14.3%
Ordinary EBT 66 45 -32.0%
EBT 66 71 7.4%
Net attributable profit 42 49 17.4%
Balance Sheet Data and Capital Expenditure
(Million euro) 31-Dec-15 31-Mar-16 Chg. (%)
Equity 3,754 3,785 0.8%
Net debt 5,159 5,396 4.6%
(Million euro) Jan-Mar 15 Jan-Mar 16 Chg. (%)
Ordinary capital expenditure 55 299 442.6%
Operating Data
31-Mar-15 31-Mar-16 Chg. (%)
Construction backlog (Million euro) 6,264 6,535 4.3%
Total wind installed capacity (MW) 7,180 7,212 0.5%
Total installed capacity (MW) 8,586 8,637 0.6%
Total production (GWh) (Jan-Mar) 6,146 6,252 1.7%
Average workforce 32,066 31,766 -0.9%
5. Q1 2016 Results (January – March)
5
2. CONSOLIDATED INCOME STATEMENT
(Million Euro) Jan-Mar 15 Jan-Mar 16 Chg. Chg.
(€m) (€m) (€m) (%)
Revenues 1,528 1,418 -111 -7.2%
Other revenues 70 131 61 86.8%
Changes in inventories of finished goods and work in progress 5 -2 -7 n.m.
Total Production Value 1,604 1,547 -57 -3.5%
Cost of goods sold -396 -427 -31 7.9%
Personnel expenses -307 -319 -12 4.1%
Other expenses -621 -523 98 -15.7%
EBITDA 280 277 -3 -1.0%
Depreciation and amortisation -127 -131 -4 3.3%
Provisions -4 -18 -14 n.m.
Impairment of assets value -1 -1 0 n.m.
Results on non current assets 1 0 0 n.m.
Other gains or losses -1 42 43 n.m.
EBIT 149 170 21 14.3%
Net financial result -100 -110 -10 10.1%
Exchange differences (net) 0 2 2 n.m.
Var. provisions financial investments 1 2 1 216.2%
Income from associated companies 16 9 -7 -44.0%
Variation in fair value of financial instruments 1 -2 -3 n.m.
EBT 66 71 5 7.4%
Income tax -16 -11 5 -31.7%
Profit from Continuing Activities 50 60 10 20.0%
Minority interest -8 -11 -3 33.5%
Attributable Net Profit 42 49 7 17.4%
6. Q1 2016 Results (January – March)
6
Revenues
Revenues (Million Euro) Jan-Mar 15 Jan-Mar 16 Chg.(€m) Chg.(%)
Energy 640 573 -68 -10.6%
Infrastructure 784 738 -46 -5.9%
Construction 535 427 -108 -20.3%
Water 89 163 75 83.8%
Service 165 158 -7 -4.0%
Consolidation Adjustments -5 -11 -6 107.1%
Other Activities 127 128 1 0.8%
Consolidation Adjustments -23 -20 2 -10.7%
TOTAL Revenues 1,528 1,418 -111 -7.2%
Consolidated revenues decreased by 7.2% to €1,418 million, mainly due to
the combined effect of the following factors:
The decline in Energy revenues (-10.6%) mainly as a result of:
– The significant drop in electricity prices in Spain which were 33%
lower in Q1 2016 relative to Q1 2015
– The decline of the international generation activity mainly due to a
slightly lower production and lower energy prices, mainly in the
United States
Increase in the Water revenues (+83.8%) due to the full consolidation of
the ATLL concession as of 1st
January 2016
Decrease in the Construction revenues (-20.3%) due to lower levels of
activity in Spain
Revenues from Other Activities performed in line with Q1 2015
EBITDA
EBITDA (Million Euro) Jan-Mar 15 % EBITDA Jan-Mar 16 % EBITDA Chg.(€m) Chg.(%)
Energy 241 86% 213 77% -28 -11.7%
Infrastructure 28 10% 53 19% 25 90.6%
Construction 22 8% 23 8% 1 4.2%
Water 3 1% 28 10% 24 710.2%
Service 2 1% 3 1% 0 3.2%
Consolidation Adjustments 0 n.m. 0 0% 0 n.m.
Other Activities 11 4% 12 4% 1 7.2%
Consolidation Adjustments 0 n.m. -1 n.m. -1 n.m.
TOTAL EBITDA 280 100% 277 100% -3 -1.0%
Margin (%) 18.3% 19.6% +1.2pp
Note: EBITDA contributions calculated before consolidation adjustments.
EBITDA decreased by 1.0% to €277 million mainly due to the significantly
lower contribution of the Energy business (-11.7%) as a result of the above
mentioned factors.
EBITDA margin stood at 19.6%, 1.2 percentage points higher than in Q1
2015.
With respect to the relative EBITDA contribution of the divisions: Energy
contributed the most (77%), followed by Construction (19%). The rest of
the businesses contributed 4% of EBITDA.
EBIT
7. Q1 2016 Results (January – March)
7
EBIT reached €170 million, a 14.3% higher than in Q1 2015 mainly due to
other gains and losses accounted for an amount of €42 million.
EBT
EBT (Million Euro) Jan-Mar 15 Jan-Mar 16 Chg.(€m) Chg.(%)
Energy 65 38 -27 -41.1%
Infrastructure 10 13 3 31.6%
Construction 5 8 3 57.0%
Water 6 5 -2 -25.1%
Service -1 0 2 n.m.
Other Activities -9 -6 3 -30.4%
Consolidation Adjustments 1 0 -1 n.m.
Ordinary EBT 66 45 -21 -32.0%
Extraordinaries 0 26 26 n.m.
TOTAL EBT 66 71 5 7.4%
Margin (%) 4.3% 5.0% +0.7pp
Ordinary EBT decreased by 32.0% to €45 million mainly due to the lower
Energy business EBT contribution which fell by 41.1%. Both Construction
and Other Activities improved their EBT.
Nevertheless, total EBT increased by 7.4%. Such increase is mainly
explained by the €26 million extraordinary results registered in Q1 2016.
Attributable Net Profit
Attributable net profit amounted to €49 million, a 17.4% higher than in Q1
2015.
8. Q1 2016 Results (January – March)
8
3. CONSOLIDATED BALANCE SHEET
(Million Euro) 31-Dec-15 31-Mar-16 Chg. Chg.
(€m) (€m) (€m) (%)
Property, Plant & Equipment and Intangible assets 8,855 9,860 1,005 11.3%
Financial assets 569 526 -43 -7.6%
Goodwill 79 79 0 0.0%
Other non-current assets 1,382 1,393 12 0.8%
NON-CURRENT ASSETS 10,885 11,858 973 8.9%
Inventories 740 740 0 0.0%
Accounts receivable 1,612 1,804 192 11.9%
Other current assets 236 221 -15 -6.2%
Current financial assets 413 594 181 43.8%
Cash and Cash equivalents 1,460 1,448 -12 -0.8%
Assets held for sale 431 438 7 1.5%
CURRENT ASSETS 4,893 5,245 352 7.2%
TOTAL ASSETS 15,778 17,103 1,325 8.4%
Capital 57 57 0 0.0%
Reserves 3,249 3,419 170 5.2%
Profit attributable to equitly holders of the parent 207 49 -158 -76.2%
Own Securities -20 -20 0 0.5%
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT 3,493 3,505 11 0.3%
MINORITY INTERESTS 261 280 19 7.4%
EQUITY 3,754 3,785 31 0.8%
Interest-bearing borrowings 5,895 6,198 303 5.1%
Other non-currrent liabilities 2,008 2,802 794 39.5%
NON-CURRENT LIABILITIES 7,903 9,000 1,097 13.9%
Interest-bearing borrowings 1,137 1,240 102 9.0%
Trade payables 2,025 2,066 42 2.1%
Other current liabilities 539 570 31 5.8%
Liabilities associated to assets held for sale 420 442 22 5.3%
CURRENT LIABILITIES 4,120 4,318 197 4.8%
TOTAL LIABILITIES AND EQUITY 15,778 17,103 1,325 8.4%
9. Q1 2016 Results (January – March)
9
Attributable Equity
ACCIONA’s attributable equity as of 31st
March 2016 amounted to €3,505
million, in line with December 2015.
Net Financial Debt
(Million Euro) Chg. Chg.
(€m) % Total (€m) % Total (€m) (%)
Interest-bearing borrowings without recourse 4,629 66% 4,671 63% 41 0.9%
Interest-bearing borrowings with recourse 2,403 34% 2,767 37% 364 15.2%
Total interest-bearing debt 7,032 100% 7,438 100% 406 5.8%
Cash + Cash equivalents -1,873 -2,042 -169 9.0%
Net financial debt 5,159 5,396 237 4.6%
31-Mar-1631-Dec-15
Net financial debt amounted to €5,396 million, 4.6% higher than as of 31st
December 2015, mainly due to the following factors:
Q1 2016 has concentrated most of the investments planned for the
entire year including one-off investments such as the acquisition of two
new vessels by Trasmediterránea and the acquisition of a 37% stake in
ATLL
The variation of working capital, which deteriorated by €148 million
Financial gearing has evolved as follows:
(Million Euro) 31-Mar-15 31-Dec-15 31-Mar-16
Net Debt 5,380 5,159 5,396
Gearing (Net Debt / Equity) (%) 144% 137% 143%
Capital Expenditure
(Million Euro) Jan-Mar 15 Jan-Mar 16
(€m) (€m)
Energy 41 135
Infrastructure 13 111
Construction 8 23
Water 2 80
Service 3 7
Other Activities 1 53
Ordinary Net Capex 55 299
Extraordinary divestments 0 0
Total Net Capex 55 299
Net ordinary capital expenditure across ACCIONA’s divisions in Q1 2016
amounted to €299 million, 5.4 times higher than in Q1 2015.
Energy represents the greatest share of the investment effort with €135
million followed by Water with €80 million, out of which €74 million are
linked to the acquisition of a 37% stake of ATLL from BTG Pactual.
Additionally it is worth mentioning the acquisition of two vessels by
Trasmediterránea during Q1 2016.
10. Q1 2016 Results (January – March)
10
Assets and liabilities associated to assets held for sale
As of 31st
March 2016 the only assets and liabilities held for sale correspond
to ACCIONA Windpower. The closing of the transaction with Nordex took
place on April 4th
2016. Therefore this asset shall cease to be classified as
held for sale in the second quarter.
11. Q1 2016 Results (January – March)
11
4. RESULTS BY DIVISION
4.1. Energy
(Million Euro) Jan-Mar 15 Jan-Mar 16 Chg. (€m) Chg. (%)
Generation 361 335 -26 -7.2%
Spain 217 197 -20 -9.2%
International 144 138 -6 -4.2%
Non-Generation 293 239 -54 -18.6%
Consolidation adjustments & Other -13 -1 12 -93.0%
Revenues 640 573 -68 -10.6%
Generation 239 214 -25 -10.3%
Spain 123 105 -18 -14.5%
International 116 109 -7 -5.8%
Non-Generation 11 8 -3 -30.9%
Consolidation adjustments & Other -9 -9 0 3.2%
EBITDA 241 213 -28 -11.7%
Margin (%) 37.6% 37.1%
EBT 65 38 -27 -41.1%
Margin (%) 10.1% 6.6%
ACCIONA Energy revenues decreased by 10.6% to €573 million. EBITDA
decreased by 11.7% to €213 million. EBT amounted to €38 million vs. €65
Q1 2015.
These results were mainly driven by the following factors:
The 10.3% decrease of the generation EBITDA to €214 million affected
by:
– The lower generation EBITDA in Spain which fell by 14.5% due to the
combination of the following factors:
o The significant drop in electricity prices which fell to
€30.7MWh, 33% lower than in Q1 2015
o This effect was partially mitigated by the recognition of a
regulatory receivable during Q1 2016 derived from the banding
mechanism established in the RD 413/2014 and the Ministerial
Order IET 1045/2014
o Production increased by 2.7% thanks to higher wind and hydro
load factors. However this was not sufficient to compensate for
the decline in power prices
– International generation EBITDA fell by 5.8% mainly due to a slightly
lower production, and lower energy prices mainly in the United States
Non-Generation EBITDA in Q1 2016 dropped by €3 million compared with
Q1 2015
12. Q1 2016 Results (January – March)
12
During the last twelve months, consolidated installed capacity increased
by 53MW (30MW wind in Poland, 4MW wind in Spain and 19MW Solar PV
in Chile)
At an operational level, consolidated production increased to 5,038GWh,
1.5% higher than in Q1 2015 due to the higher wind load factor in Spain
and, to a lesser extent, a higher hydro load factor which compensated the
lower solar resource as well as a lower international wind production.
Breakdown of Installed Capacity and Production by Technology
31-Mar-16 Installed MW Produced GWh Installed MW Produced GWh Installed MW Produced GWh
Spain 5,950 4,049 4,673 3,035 5,248 3,514
Wind 4,747 3,437 3,470 2,423 4,079 2,909
Hydro 888 488 888 488 888 488
Solar Thermoelectric 250 40 250 40 220 35
Solar PV 3 1 3 1 3 0
Biomass 61 83 61 83 59 81
International 2,688 2,203 2,401 2,004 1,576 1,296
Wind 2,465 2,114 2,225 1,930 1,462 1,258
Mexico 557 631 557 631 361 410
USA 628 550 553 474 374 319
Australia 303 212 239 177 180 129
Italy 156 91 156 91 104 61
South Africa 138 109 138 109 47 37
Portugal 120 98 120 98 75 61
Canada 181 142 103 83 69 55
Poland 101 64 101 64 67 42
India 86 31 86 31 57 21
Costa Rica 50 87 50 87 32 56
Greece 48 38 48 38 35 28
Chile 45 19 45 19 30 13
Croatia 30 29 30 29 20 19
Hungary 24 14 0 0 12 7
Solar PV 159 72 113 56 71 26
South Africa 94 56 94 56 32 19
Chile 19 0 19 0 19 0
Portugal 46 16 0 0 20 7
Solar Thermoelectric (USA) 64 18 64 18 43 12
Total Wind 7,212 5,551 5,695 4,353 5,541 4,167
Total other technologies 1,425 701 1,379 685 1,283 642
Total Energy 8,637 6,252 7,074 5,038 6,824 4,810
Total Consolidated Net
Annex 2 shows greater detail on MWs and production.
13. Q1 2016 Results (January – March)
13
4.2. Infrastructure
(Million Euro) Jan-Mar 15 Jan-Mar 16 Chg. (€m) Chg. (%)
Construction 535 427 -108 -20.3%
Water 89 163 75 83.8%
Service 165 158 -7 -4.0%
Consolidation Adjustments -5 -11 -6 107.1%
Revenues 784 738 -46 -5.9%
Construction 22 23 1 4.2%
Water 3 28 24 710.2%
Service 2 3 0 3.2%
EBITDA 28 53 25 90.6%
Margin (%) 3.6% 7.2%
EBT 10 13 3 31.6%
Margin (%) 1.3% 1.8%
ACCIONA Infrastructure division includes the operations of Construction,
Water and Services under a single division. This structure brings the
following benefits:
Common and integrated international structure to support Construction,
Water and Service business development
A single and more comprehensive global offer to clients
Additional business opportunities from synergies among business units
More efficient international organizational structure to support the
business
Focus on accountability and risk control through specialization, technical
excellence and consistent execution
14. Q1 2016 Results (January – March)
14
A. Construction
(Million Euro) Jan-Mar 15 Jan-Mar 16 Chg. (€m) Chg. (%)
Construction, Industr. & Engineering 512 402 -110 -21.5%
Concessions 23 25 2 7.4%
Revenues 535 427 -108 -20.3%
Construction, Industr. & Engineering 13 11 -2 -13.9%
Concessions 9 12 3 31.3%
EBITDA 22 23 1 4.2%
Margin (%) 4.1% 5.4%
EBT 5 8 3 57.0%
Margin (%) 1.0% 1.9%
Revenues amounted to €427 million, 20.3% lower than in Q1 2015 mainly
due to the decrease of the construction & engineering activity in Spain.
EBITDA increased by 4.2% to €23 million.
The concession business EBITDA grew by 31.3% with reference to the same
period last year.
Construction Backlog
As of 31st
March 2016 the construction backlog amounted to €6,535 million,
4.3% higher than in March 2015. The International backlog reached an
overall weight of 75% of total vs. 69% a year ago.
(Million Euro) 31-Mar-15 31-Mar-16 Chg. (%) Weight (%)
Total Spain 1,944 1,625 -16% 25%
Total International 4,320 4,910 14% 75%
Latam 1,625 2,086 28% 32%
EMEA 1,802 1,350 -25% 21%
Australia 836 956 14% 15%
Canada 57 518 809% 8%
TOTAL 6,264 6,535 4% 100%
Concessions
As of 31st
March ACCIONA held a portfolio of 23 concessions with a book
value of €1,368 million (€451 million “equity” and €9171
million net debt).
Annex 3 contains the details on the concessions portfolio as of 31st
March
2016.
1
It includes the debts of the concessions accounted by the equity method (€595 million)
15. Q1 2016 Results (January – March)
15
B. Water
(Million Euro) Jan-Mar 15 Jan-Mar 16 Chg. (€m) Chg. (%)
Revenues 89 163 75 83.8%
EBITDA 3 28 24 710.2%
Margin (%) 3.8% 16.9%
EBT 6 5 -2 -25.1%
Margin (%) 7.1% 2.9%
The Water division increased its turnover by 83.8% and its EBITDA
increased by more than 8 times, mainly due to the full consolidation of
ATLL, the Barcelona water concession.
Excluding this effect, revenues increased by 41.6% while its EBITDA almost
tripled mainly thanks to the growth achieved by the design and construction
activity in International markets mainly linked to two desalination plants
which ACCIONA Agua is building in Qatar.
Water Backlog
Water Backlog as of March 2016 amounted to €10,752 million, 12.3%
higher than twelve months ago which is mainly explained by the full
consolidation of ATLL.
(Million Euro) 31-Mar-15 31-Mar-16 Chg. (%)
D&C 480 559 17%
O&M 2,950 2,131 -28%
ATLL 6,145 8,061 31%
TOTAL 9,575 10,752 12%
(Million Euro) 31-Mar-15 31-Mar-16 Weight (%)
Spain 8,354 9,511 88%
International 1,221 1,241 12%
TOTAL 9,575 10,752 100%
Annex 4 shows detail of water concessions under the SIC 29 as of 31st
March 2016.
16. Q1 2016 Results (January – March)
16
C. Service
(Million Euro) Jan-Mar 15 Jan-Mar 16 Chg. (€m) Chg. (%)
Revenues 165 158 -7 -4.0%
EBITDA 2 3 0 3.2%
Margin (%) 1.5% 1.6%
EBT -1 0 2 -137.5%
Margin (%) -0.8% 0.3%
ACCIONA Service encompasses a series of services: airport handling
services, facility services, logistic services, waste management and others.
The division reported a decrease in revenues of 4.0% to €158 million.
However its EBITDA increased by 3.2% reaching €3 million.
It is to be stressed that during Q1 2016 ACCIONA Airport Services was
awarded a 7 year handling licence at Düsseldorf Airport as from 1st
April
2016.
17. Q1 2016 Results (January – March)
17
4.3. Other Activities
(Million Euro) Jan-Mar 15 Jan-Mar 16 Chg. (€m) Chg. (%)
Trasmediterranea 87 88 1 1.7%
Real Estate 9 11 2 27.3%
Bestinver 22 19 -3 -13.4%
Winery 7 7 0 5.1%
Corp. & other 2 2 0 -16.5%
Revenues 127 128 1 0.8%
Trasmediterranea -3 2 5 n.m.
Real Estate 1 -3 -4 n.m.
Bestinver 14 14 0 0.7%
Winery 0 0 0 n.m.
Corp. & other -1 -1 0 n.m.
EBITDA 11 12 1 7.2%
Margin (%) 9.0% 9.6%
EBT -9 -6 3 -30.4%
Margin (%) -7.1% -4.9%
During Q1 2016 this division - which includes Trasmediterranea, Real
Estate, Bestinver, Wineries and others - reported revenues of €128 million,
0.8% higher than in Q1 2015.
The EBITDA increased by 7.2% to €12 million, due to Trasmediterranea
improvement.
Trasmediterránea:
Trasmediterránea improved its EBITDA in €5 million, going from a -€3
million negative EBITDA in Q1 2015 to a €2 million positive thanks to higher
revenues, the improved operational efficiency as well as the lower personnel
and fuel costs.
During this period, the number of passengers and vehicles increased by
7.3% and 5.8% respectively, while lane metres decreased by 2.2%.
Jan-Mar 15 Jan-Mar 16 Chg. (%)
Passengers served 400,457 429,544 7.3
Cargo handled (lane metres) 1,384,393 1,353,778 -2.2
Vehicles 85,758 90,731 5.8
18. Q1 2016 Results (January – March)
18
Real Estate:
Revenues increased by 27.3% while EBIDA decreased by €4 million. This
was due to a change in the accounting standard ruling the accounting of
property taxes (IBI, IAE …). In Q1 2015, these taxes were still being
accrued over the entire year, as the implications of the new accounting
standard were still being assessed. From Q2 2015, these taxes were then
fully registered as a one-off expense in the P&L on 1st
April 2015, whilst in
2016 they were registered in the P&L on the 1st
January 2016.
31-Mar-15 31-Dec-15 31-Mar-16
Chg. Last
12M(%)
Housing stock 474 316 308 -35.0
Out of the 308 units, 104 units are located in Poland and Portugal.
Bestinver:
Bestinver’s assets under management stood at €5,012 million as of 31st
March 2016. It reported an EBITDA of €14 million in line with Q1 2015.
19. Q1 2016 Results (January – March)
19
5. ANNEX 1: MATERIAL INFORMATION, DIVIDEND
AND SHARE DATA
5.1. Significant communications to the stock market
17th
of March 2016: ACCIONA reports new Board of Directors
– ACCIONA reports the composition of the new Board of Directors
following recent changes in the management of the group
– The Board of Directors is composed by the following Executive
Directors: Mr. José Manuel Entrecanales Domecq and Mr. Juan
Ignacio Entrecanales Franco and the following Executives: Mr. Carlos
Arilla de Juana, Ms. Arantxa Ezpeleta Puras, Mr. Pio Cabanillas
Alonso, Mr. Alfonso Callejo Martínez, Ms. Macarena Carrión López de
la Garma, Mr. Luis Castilla Cámara, Mr. Rafael Mateo Alcalá, Mr.
Joaquín Mollinedo Chocano, Mr. Juan Muro-Lara Girod and Mr. Jorge
Vega-Penichet López
4th
of April 2016: ACCIONA reports the closing of the transaction
with Nordex for the contribution of ACCIONA Windpower
– ACCIONA announces the transfer to Nordex SE of all the share capital
of Corporación ACCIONA Windpower SL (“AWP”) has been concluded,
resulting in an Enterprise Value of €785 million. The estimated equity
value of AWP based on the December 31st 2015 debt adjustment
amounts to €742.8 million. ACCIONA has received as compensation:
(i) 16,100,000 new issued shares of Nordex SE representing
16.6% of its corporate capital for a per share value of €26
totaling €418.6 million
(ii) A cash payment of €324.2 million
7th
of April 2016: Official announcement and submission of
proposal of the Annual General Meeting
– On the 7th of April 2016, the company informed to the CNMV
(Spanish Stock Market Regulator), of the Annual General Meeting
announcement for the 9th of May 2016 for its first call, or the 10th of
May 2016 for its second one and submitted the proposal of
agreements
11th
of April 2016: ACCIONA reports the closing of the
transaction for the acquisition of 13.3% of the share capital of
Nordex
– ACCIONA announces the closing of the acquisition to Momentum-
Capital Vermögensverwaltungsgesellschaft GmbH, and Ventus
Venture Fund Gmbh & Co. Beteiligungs KG of 12.897.752 Nordex
shares representing 13.3% of its corporate capital. ACCIONA
currently holds a 29.9% shareholding in the corporate capital of
Nordex SE
20. Q1 2016 Results (January – March)
20
5.2. Dividend
On the 29th
of February 2016 the Board of Directors of ACCIONA resolved
the distribution of €2.5 gross dividend per share against results of 2015
fiscal year. The total payment of this dividend amounts to €143.1 million.
The dividend will be paid on the 1st
of July 2016.
5.3. Share data and share Price performance
ACCIONA Share Price Evolution (€/share)
Key Share Data
31-Mar-16
Price at 31st
March 2016 (€/share) 67.98
Price at 1st
January 2016 (€/share) 79.08
Low in Q1 2016 (11/02/2016) 61.99
High in Q1 2016 (01/01/2016) 79.08
Average daily trading (shares) 337,917
Average daily trading (€) 23,382,634
Number of shares 57,259,550
Market capitalisation 31st
March 2016 (€ million) 3,893
Share Capital Information
As of 31st
of March 2016 the share capital of ACCIONA amounted to
€57,259,550 divided into 57,259,550 shares of €1 of nominal value each.
The group’s treasury shares as of 31st
of March 2016 amounted to 332,244
shares which represent a 0.58% of the share capital.
22. Q1 2016 Results (January – March)
22
7. ANNEX 3: DETAIL OF TRANSPORT AND HOSPITAL CONCESSIONS
Chinook roads (SEST) Pay for availibility road integrated in the Calgary ring motorway (25km) 2010 - 2043 Canada 5% Operational Equity method* Financial asset
Autovia de los Viñedos Construction, operation and maintenance of road CM-42 between Consuegra & Tomelloso (74.5km). Shadow toll 2003 - 2033 Spain 50% Operational Equity method Intangible asset
Ruta 160 Reform, maintenance and operation of a 91km toll road between Coronel and Tres Pinos. Explicit toll 2008 - 2048 Chile 100%
Construction &
Operational
Global integration Financial asset
Infraestructuras y radiales (R-2)
Construction and operation of 87km toll road motorway R-2 connecting Madrid-Guadalajara (includes maintenance of part of M-50 connecting A1
and A2). Explicit toll
2001 - 2039 Spain 25% Operational Equity method Intangible asset
Rodovia do Aço Recovery, operation and maintenance of BR-393 (200.4km) road in the Rio de Janeiro state (between Volta Redonda & Alén). Explicit toll 2008 - 2033 Brazil 100%
Construction &
Operational
Global integration Intangible asset
A2 - Section 2
Remodeling, restoration, operation and maintenance of a 76.5km strech of an existing road between km 62 (A-2) and km 139 (border of
province of Soria-Guadalajara). Shadow toll
2007 - 2026 Spain 100% Operational Global integration Intangible asset
Puente del Ebro Toll expressway connecting N-II & N-232 (5.4km; 400m above the Ebro river). Shadow toll 2006 - 2036 Spain 50% Operational Equity method Intangible asset
Windsor Essex Parkway Design, construction and operation of 11km highway connecting Windsor (Ontario - Canada) and U.S. Border (Detroit - Michigan) 2010 - 2044 Canada 33% Operational Equity method Financial asset
Nouvelle Autoroute A-30 Construction and operation of toll road-Highway 30 in Montreal, between Châteauguay and Vaudreuil-Dorion (74km). Explicit toll 2008 - 2043 Canada 5% Operational Equity method* Financial asset
Autovía Gerediaga - Elorrio
Construction, conservation and operation of N-636 road, Gerediaga-Elorrio stretch, and conservation and operation of Variante de Elorrio already
built. Pay for availilibility
2012 - 2042 Spain 23% Construction Equity method Financial asset
Autovía del Almanzora Construction and operation of the 40.76km road in Almería connecting Purchena and the Autovía del Mediterráneo (A-7). Availiability payment 2012 - 2044 Spain 24% Construction Equity method Financial asset
Autovía de la Plata
Construction, conservation and operation of Autovía de la Plata (A-66) road, between Benavente and Zamora. Stretches: A6 (Castrogonzalo) -
Santovenia del Esla, Santovenia del Esla - Fontanillas de Castro, Fontanillas de Castro –Zamora. Pay for availilibility
2012 - 2042 Spain 25% Operational Equity method Financial asset
Toowoomba Second Range
Crossing (Nexus)
Design, construction and operation of 41km of the north ring road in Toowoomba (Queensland), from Helidon Spa to Athol, through Charlton.
Availiability payment (25 year operation from construction end)
2015 - 2043 Australia 20% Construction Equity method Financial asset
Consorcio Traza
(Tranvía Zaragoza)
Construction & operation of the streetcar that crosses the city (12.8km) 2009 - 2044 Spain 17% Operational Equity method Both methods
Sydney Light Rail
Design, construction and O&M of 12km rail line from Circular Quay via George Street to Central Station crossing Surry Hills to Moore Park,
Kensington, Kingsford and Randwick. It includes operation of Inner West line
2014 - 2034 Australia 5% Construction Equity method Financial asset
Canal Canal de Navarra Construction & operation of the 1st
phase of the Canal de Navarra irrigation area 2006 - 2036 Spain 45% Operational Equity method Both methods
Port Nova Darsena Esportiva de Bara Construction & operation of the Roda de Bara marina. Revenues from moorings, shops & parkings (191,771m2
) 2005 - 2035 Spain 50% Operational Equity method N/A
Fort St John DBFOM for a new 55-bed hospital (plus 123 nursing home patients) 2009 - 2042 Canada 5% Operational Equity method* Financial asset
Hospital de Leon Bajio Design, construction, equipment and O&M of the hospital occupying an area of 25,000m² (184 beds) 2005 - 2030 Mexico 100% Operational Global integration Financial asset
Hospital del Norte (Madrid) DBFOM of the hospital with an area of 90,000m2
divided in 4 blocks (283 beds) 2005 - 2035 Spain 95% Operational Global integration Financial asset
Gran Hospital Can Misses (Ibiza) DBFOM of the hospital with an area of 72,000m2
& a health center (241 beds) 2010 - 2045 Spain 40% Operational Equity method Financial asset
Novo Hospital de Vigo DBFOM of 3 hospitals with an area of 300,000m² (175,000m² hospital y 125,000m² car park). (2007 beds) 2011 - 2035 Spain 43% Operational Equity method Financial asset
Centro Hospitalario Universitario
de Toledo
Construction and operation of Hospital Universitario de Toledo, with 760 beds 2015 - 2045 Spain 33% Construction Equity method Financial asset
StatusPeriod ACCIONA Accounting method
Rail
Hospital
DescriptionName Country Asset type
Road
*Indirect 10% stake held through ACCIONA Concesiones Canadá Inc.
23. Q1 2016 Results (January – March)
23
8. ANNEX 4: DETAIL OF WATER CONCESSIONS UNDER SIC 29
EDAR 8B Construction, operation and maintenance of the wastewater treatment plant "08B Zone" of Aragon 2008 - 2031 Spain 100% Operational Global integration Intangible asset
EDAR 7B Construction, operation and maintenance of the wastewater treatment plant "07B Zone" of Aragon 2011 - 2031 Spain 100% Operational Global integration Intangible asset
IDAM Alicante Construction, operation and maintenance of the sea water desalination plant in Alicante 2000 - 2018 Spain 50% Operational Proportional integration Financial asset
IDAM Javea Construction, operation and maintenance of the sea water desalination plant in Javea 2001 - 2023 Spain 100% Operational Global integration Financial asset
IDAM Cartagena Construction, operation and maintenance of the sea water desalination plant in Cartagena 2001 - 2020 Spain 63% Operational Proportional integration Financial asset
IDAM Fouka Construction, operation and maintenance of the sea water desalination plant in Tipaza 2008 - 2036 Argelia 26% Operational Equity method Financial asset
IDAM Ibiza -Portmany Reconstruction, works operation and maintenance of the sea water desalination plant in San Antonio Portmany and Ibiza 2010 - 2024 Spain 50% Operational Equity method Financial asset
PTAR Atotonilco Construction, operation and maintenance of the wastewater treatment plant in Atotonilco 2010 - 2035 Mexico 24% Construction Equity method Financial asset
WWTP Mundaring Construction, operation and maintenance of the wastewater treatment plants in Mundaring 2011 - 2048 Australia 25% Operational Equity method Financial asset
PTAR La Chira Construction, operation and maintenance of the wastewater treatment plants in La Chira 2011 - 2037 Peru 50% Construction Equity method Financial asset
IDAM Arucas Moya Extension, operation and maintenance of the sea water desalination plant in Arucas / Moya 2008 - 2024 Spain 100% Operational Global integration Intangible asset
Red de saneamiento en Andratx Construction, operation and maintenance of the wastewater treatment plants in Andratx 2009 - 2044 Spain 100% Construction Global integration Intangible asset
PPP Divinopolis Construction, operation and maintenance of the wastewater treatment plant in Divinopolis 2015 - 2041 Brasil 15% Construction Equity method
Financial asset /
Intangible asset
Port City Water Design, construction, financing, operation and maintenance of a water treatment plant and storage reservoirs in Saint John 2016 - 2048 Canada 40% Construction Equity method Financial asset
ACCIONA Status Accounting method Asset typeName Description Period Country
24. Q1 2016 Results (January – March)
24
9. ANNEX 5: SUSTAINABILITY
9.1 Sustainability indices
The results of the 2015 annual review confirm that ACCIONA is
a component of the Dow Jones Sustainability World Index (DJSI
World) for the ninth consecutive year. This index is composed
of those companies deemed most advanced in economic, social
and environmental terms. ACCIONA has been assessed in the
Electric Utilities industry.
Following a new half-year assessment, ACCIONA continues to
rank on the FTSE4Good Index Series. Companies in the
FTSE4Good Index Series have met stringent social and
environmental criteria, and are positioned to capitalise on the
benefits of responsible business practice.
ACCIONA is a constituent of the MSCI Global Climate Index,
which includes companies that are leaders in mitigating
immediate and long-term factors that contribute to climate
change.
ACCIONA has been included in the CDP Climate “A” List,
comprised of companies that demonstrate leadership through
action to combat climate change. It has also been listed in the
CDP Iberia 125 Climate Disclosure Leadership Index 2015 and
the CDP Supplier Climate A list.
STOXX Global Climate
Change Leaders Index
ACCIONA is currently a component of the STOXX Global Climate
Change Leaders Index. This is the first ever index based on
CDP's global Climate A List and includes low carbon leaders who
are publicly committed to reducing their carbon footprint.
9.2 Sustainability events during the period:
ACCIONA has been awarded the “RobecoSAM Silver Class 2016”
among companies in the Electric Utilities sector in The Sustainability
Yearbook 2016 produced by RobecoSAM. These distinctions are given to
companies with best sustainability practices at sector level.
The Sustainability Committee of the Board of Directors of ACCIONA has
approved the Company’s new Sustainability Master Plan to 2020.