Endesa drives Acciona profits

05 August 2008

Acciona's profits rose +180% in the first half of 2008 thanks to ownership of a stake in Spanish electricity company Endesa. The company's revenues were up +84% for the period.

Earnings before interest, tax and amortisation (EBITA) stood at € 1,35 billion for the first half of the year, compared to € 481 the same period in 2007. Revenues for the period were € 6,03 billion, compared to € 3,28 billion in the first six months of 2007. Like Acciona's sharp rise in profit, this was largely due to the consolidation of its ownership of a 25,01% stake in Endesa.

In contrast, Acciona Infrastructures saw a -11,3% decline in revenues over the- down to € 1,66 billion, compared to € 1,88 billion for the first half of 2007. Profits for this division were down more sharply at € 105 million, a -35,8% fall on 2007. The company blamed this on "narrowing margins", but said that the backlog for this business stream stood at a healthy € 7,59 billion as of the end of June, +45,1% higher than it was 12 months previously.


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Andy Brown Editor, Editorial, UK - Wadhurst Tel: +44 (0) 1892 786224 E-mail: [email protected]
Neil Gerrard Senior Editor, Editorial, UK - Wadhurst Tel: +44 (0) 7355 092 771 E-mail: [email protected]
Catrin Jones Deputy Editor, Editorial, UK – Wadhurst Tel: +44 (0) 791 2298 133 E-mail: [email protected]
Eleanor Shefford Brand Manager Tel: +44 (0) 1892 786 236 E-mail: [email protected]