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Acciona's 2016 profit grows, 62% of EBITDA is from renewables

The El Romero Solar plant in Chile. Source: Acciona Energia.

March 1 (Renewables Now) - Spain’s Acciona SA (BME:ANA) on Tuesday reported stable EBITDA of EUR 1.19 billion (USD 1.26bn) for 2016, 62% of which came from the renewable energy division.

Net profit jumped by 70% to EUR 352 million, including EUR 721 million of extraordinary revenue, mainly from the integration of Acciona Windpower (AWP) into German wind turbine maker Nordex (ETR:NDX1). The firm also booked EUR 626 million in provisioning and costs.

Results in EUR million 2016 2015
Revenue 5,977 6,544
EBITDA 1,192 1,174
EBIT 988 627
Net attributable profit 352 207

Energy EBITDA (earnings before interest, tax, depreciation and amortisation) declined because of lower power prices in Spain. Still the Infrastructure division offset that effect with growth of 91.8%.

Energy revenues also fell because of the prices in Spain, and also due to the deconsolidatiion of AWP.

Acciona’s capital expenditure rose more than four-fold to EUR 916 million in 2016, mainly as a result of investments in the Energy division. Installed capacity grew by 294 MW last year, including 246 MW from the El Romero photovoltaic (PV) park in Chile. There, and also in Mexico and Australia, the company won tenders for 700 MW of capacity, which it intends to build in the coming years.

Acciona Energy's capacity at year-end was 7,349 MW and consolidated output for 2016 was 17,354 GWh.

(EUR 1 = USD 1.06)

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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