Acciona increases Q1 net profit by 24% with 319 MW more renewables

The Krobia I wind farm in Poland. Image by Acciona (www.acciona.com)

The net profit of Acciona SA (BME:ANA) rose by 24% year-on-year to EUR 97 million (USD 118m) in the first quarter of 2021, during which period the Spanish group added 319 MW of new renewable energy capacity to its portfolio.

Acciona said last week that the increase is attributed to the contribution of the newly switched on international renewables and a 9.4% decrease in net financial expenses compared to the figure in the same period of 2020.

The group’s earnings before interest, taxes, depreciation and amortisation (EBITDA) went up by 11.1% year-on-year to EUR 362 million.

Acciona's energy business generated revenues of EUR 572 million, up 20%, while energy EBITDA went up by 22.1% during the first three months. The division increased its capacity by 90 MW of wind in Australia, 53 MW of wind in Mexico and 176 MW of solar photovoltaic (PV) in Chile.

Overall, Acciona's revenue grew 5.5% in the first quarter to EUR 1.71 billion, mainly because of higher energy and infrastructure revenues.

Details on Acciona’s Q1 results are presented below:

In EUR million, unless otherwise noted	Q1 2021	Q1 2020	Y/Y Change
Revenues	1,710	1,622	5.5%
EBITDA	362	325	11.1%
EBT	149	128	16.4%
Attributable net profit	97	78	24%
End-March capacity (in MW)	11,013	10,240	7.5%
Jan-Mar production (in GWh)	6,948	6,562	5.9%