Abengoa Yield's H1 adj EBITDA rises 93% y/y

Abengoa Yield Plc (NASDAQ:ABY) on Thursday posted a 93% year-on-year increase in further adjusted EBITDA for the first half of 2015 to USD 264.8 million (EUR 242.3m).

The renewable energy business sector contributed some USD 159.2 million in adjusted EBITDA, which stands for earnings before interest, tax, depreciation and amortisation. This compares to USD 60.6 million in the first half of 2014.

The company, a yieldco unit of Spanish engineering and renewables firm Abengoa SA (BME:ABG), generated cash available for distribution (CAFD) of USD 83.1 million versus none in January-June 2014. It declared a dividend of USD 0.40 per share for the second quarter, which is an 18% increase over initial quarterly guidance. The distribution will be made on or about September 15 to stockholders of record on August 30, 2015.

First-half revenue surged to USD 308.6 million from USD 169.8 million. More than half of that, or USD 193.4 million, was generated by the renewable energy business sector.

As of June 30, 2015, Abengoa Yield had 1,241 MW of renewable energy capacity in operation. These plants produced 1,083 GWh of electricity during the six-month period compared to 418 GWh a year back.

(USD 1.0 = EUR 0.916)

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