Acciona in profitable first quarter

By Steve Skinner13 May 2010

Acciona reported first quarter sales of € 1,5 billion, up +9,2% on the € 1,3 billion recorded for the same period last year. Pre-tax profit for the quarter jumped + 27,8% to € 113 million, up from € 89 million.

A +43,9% improvement in gross operating profit to € 275 million was attributed to the incorporation of 2078 MW of Endesa Renewables' assets and 462 MW of organic installation as well as increased production from the Group's Spanish operations.

A statement said the first quarter performance was thanks to a strong performance by Acciona Energy with the division recording a +64,8% growth in sales to account for 26,4% of the Group's overall revenues. The infrastructure arm contributed 51%, logistics, 10,8% and urban services, 10,4%.

After close of the first quarter, Acciona won two major contracts in the shape of the development of 306 MW of wind power in Mexico and a € 575 million design and build contract for the Calgary highway, Canada. The latter contract will enhance the infrastructure order backlog which stood at € 7 billion at the end of the first quarter, down from € 7,2 billion last year.

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