Infrastructure boost for Acciona
By Helen Wright27 February 2012
Spanish contractor Acciona reported a 6.1% year-on-year increase in revenues for 2011 to €6.6 billion, fuelled by double-digit growth in its infrastructure and energy divisions.
Compared to 2010, infrastructure revenues were up 12.9% last year to €3.5 billion, while energy revenues rose 10.2% to €1.7 billion.
Offsetting this, revenues at the company's real estate division plummeted 48.9% year-on-year to €104 million, while revenues at the logistic and transport services division were down 8.1% to €714 million and water and environment revenues dropped 4.8% to €697 million.
Overall, earnings before tax fell 6.9% year-on-year to €224 million after the company made provisions for impairments on its real estate assets.
At the end of December last year, Acciona's overall construction backlog amounted to €6.5 billion, representing a 1% decrease against 31 December, 2010. The international backlog increased to 41% last year from 38% in 2010.