Elecnor Achieves a Profit of 126.4 Million Euros
Elecnor, the Spanish infrastructure, energy and telecommunications group improved its results in 2019 after achieving a net profit of 126.4 million and sales of 2,453 million, representing a growth of 9%.
The international business represents more than 52% of total sales, while the national business grows by 18.3%.
By segments, the Infrastructure Business reached sales of 2,279.5 million euros, up by 8.8% over the previous year, while revenues in the Concession Business grew to 190.8 million, which represents an increase of 20.3% compared to 2018. The growth in terms of activity has been achieved due to the good performance of both businesses.
Infrastructure has improved its figures on the back of: a) the leadership in services activities in the national market for large operators, mainly electricity and telecommunications, b) the construction of power transmission lines in Brazil, c) the growth of operations in Africa thanks to the participation in different construction projects, d) the new projects in Norway, e) the photovoltaic activity in the Dominican Republic and f) the development of wind farms in Panama, Jordan and Chile.
The positive development of the Concession Business is due to: a) the greater electricity generation of the national wind farms; b) the growth of the transmission business supported by the new projects acquired last year; c) the activities to promote renewable energy; and d) the improved performance in terms of revenues from solar thermal plants.
In 2019 the Group’s Consolidated Net Profit reached 126.4 million euros, driven by the positive accounting impacts as a result of the alliance between Elecnor and APG for the joint management of the Celeo Concesiones Group. Besides this non-recurring accounting impact, it is worth noting the good performance of the businesses that make up Elecnor Group in its ordinary course of business.
EBITDA, without considering extraordinary corporate operations, amounted to 265 million euros, representing a growth of 6.8% compared to the previous financial year.
