Earnings down at Acciona

By Helen Wright25 July 2012

Spanish contractor Acciona reported net income of €81 million for the six months to 30 June, down 67% compared to the first half of last year after its earnings were hit by the construction slowdown in its domestic market.

Nevertheless, Acciona reported an 8.6% year-on-year rise in revenues to €3.3 billion for the first half. The increase was fuelled by gains at its energy division, which reported a 32% increase in revenues to €1.1 billion.

The infrastructure division reported first half revenues of €1.6 billion, a flat result year-on-year. Acciona said the decrease it had seen in the Spanish construction market had been offset by international growth.

Infrastructure earnings before interest, tax, depreciation and amortisation fell 22% year-on-year to €78 million for the six-month period. As well as reflecting the drop in income from the Spanish market, the company said its sale of two Chilean concession projects in June last year - contributing €12 million to earnings in the first half of 2011 - had also skewed the comparison.

The construction backlog was down 9% year-on-year at the end of June to €6.8 billion. International projects represented 47% of the backlog, with domestic projects making up the remaining 53%. International projects represented 42% of the backlog in the first half of 2011.

Latest News
Sinoboom appoints regional manager for Poland
Lucjan Bogdan will also oversee Latvia, Lithuania and Belarus
Arcadis predicts high construction price inflation into 2022
Updated tender price forecast highlights inflationary pressures for 2021 and predictions for the new year 
NCC to construct wooden office building in Denmark
Sustainable government hub will be constructed for Danish Building and Property Agency in 2022