Acciona has closed September with the infrastructure order book at historical highs and waiting meet your forecasts after a turbulent year. As reported yesterday by the firm to the National Securities Markets Commission (CNMV), the group registers 27,207 million euros in orders in the construction field, 11% more than at the end of 2023. Thanks to Acciona’s performance and the improvement in energy prices in the second half of the year, the group estimates that it will end 2024 with a gross result (ebitda) of 2 billion euroswithout taking into account the positive effects of divestments in the energy sector.
Including contracts consolidated by equity accounting, the aggregate portfolio is stands at 40,952 million euroscompared to 34,050 million euros as of December 31, 2023, that is, 20.3% above. Among the main projects awarded, the I-10 highway in Louisiana, in the US, and the first batch of tunnels of the Suburban Rail Loop East project, in Melbourne, stand out.
Simultaneously, the company chaired by Jose Manuel Entrecanales has continued to accelerate its growth in concessions; The capital invested in concessional projects as of September 30 amounts to 676 million euros. Furthermore, in August, a consortium in which Acciona participates was selected as the preferred winner for the construction and operation under a concession regime, for 50 years, of the SR400 Express Lane highway in Atlanta, Georgia (USA). The project has a construction value of 4.7 billion dollars (4,451 million euros) and a total investment of approximately 10.9 billion dollars (10,322 million euros).
In the energy section, Acciona Energía expects to add close to 2 gigawatts (GW) to its assets in operation, without counting the installed power lost with asset sales. Consolidated production during the first nine months of the year grows 14.5% mainly due to new international assets put into operation, and to a lesser extent, by the strength of hydraulic production in Spain. The average captured price is stands at 66/MWh despite the normalization of energy prices, thanks to the company’s coverage policy and regulated generation.
In terms of capital gains, Acciona Energía has generated to date a estimated amount of 183 millionof which 180 million are related to the sale of 175 MW of hydro assets recently completed Elewan, and 3 million with the sale of one 49% share in a wind farm in Hungarycalled Mov-R. Of the total amount, 107 million are recorded at the level ebitda and 76 million have already been accounted for in the results of the first semester due to the reversal of previous impairments (below the line ebitda).
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