Spain's Elecnor boosts infrastructure revenues by 8.8% in 2019

Spain’s Elecnor SA (BME:ENO) said Friday its infrastructure business, through which it builds renewable energy assets, recorded revenues of EUR 2.28 billion (USD 2.49bn) in 2019, up by 8.8% year-on-year.

The construction engineering and concessionaire group as a whole posted EUR 126.4 million in net profits, a 54% growth compared to 2018. Earnings before interest, taxes, depreciation and amortisation (EBITDA) came at EUR 265 million, while consolidated revenues totalled EUR 2.45 billion, up by 9%.

The infrastructure business last year grew mainly thanks to operations in international markets, among them, activities in the photovoltaic (PV) sector in the Dominican Republic, wind farm development in Panama, Jordan and Chile and construction of transmission lines in Brazil.

At home, Elecnor highlighted service activities for large operators working mainly in the electricity and telecommunications sectors.

International business accounted for more than 52% of the total sales, while the domestic business grew by 18.3% year-on-year, Elecnor said.

The company signed contracts worth EUR 2.2 billion over the past year, with 75% of them coming from abroad. Their combined value represents a 4.5% increase over the 2018 signings. Elecnor expects to execute the contracts in the next 12 months.

(EUR 1.0 = USD 1.094)

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