Acciona H1 profits triple

By Helen Wright28 July 2011

Spanish contractor Acciona reported net profit of € 248 million for the first half of 2011, more than triple the net € 78 million profit it recorded during the first six months of 2010, as it looks to deepen its international footprint.

Overall, consolidated revenues increased +2,3% to € 3,1 billion. Revenues in the infrastructure division increased +3,3% to € 1,6 billion - a rise that Acciona said had been supported by growth in international construction markets.

The infrastructure backlog at 30 June stood at € 7,5 billion, up +9% year-on-year. This figure included a +62% increase in the international civil works backlog - business which has increased its weighting in the group's total backlog from 28% to 42% in just 12 months.

Acciona highlighted a € 400 million contract won by its infrastructure division during the first half to build a dyke in the Açu port complex in São João da Barra, Brazil. Awarded by Brazilian company EBX Group, the project will see the construction of the largest shipyard breakwaters in Latin America.

The results were also boosted by a strong performance from Acciona's energy and infrastructure divisions. The energy unit recorded a +9,1% increase in revenues to € 809 million for the first half. At the end of June, the division had 361 MW of capacity under construction.

Meanwhile, Acciona's agua and environment business division reported stable revenues of € 336 million. It recorded an +11% increase in its order backlog to € 4,7 billion at the end of June, supported by an increase in operation and maintenance contracts.

The company said it was also increasing this division's international presence, and highlighted a contract won during the first half to build, design, operate and maintain a wastewater treatment plant in Arequipa, Peru.

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