Elecnor earns 30.5 million in the first quarter, 11.2% more

MADRID, 29 Abr. (EUROPA PRESS) -

The Elecnor group obtained a consolidated net profit of 30.5 million euros in the first quarter of the year, which is 11.2% more than in the same period of the previous year, the company reported this Monday.

The group's sales amounted to 801 million euros between January and March, with an increase of 10.5% over those obtained in the first quarter of 2023.

The international market, which accounted for 56% of the group's total turnover, achieved sales 20.4% higher than those of the first quarter of 2023, while the national market remained at similar levels, according to the company. it's a statement.

The group has highlighted that, thanks to its "solid" portfolio of contracts, it expects to exceed this year the magnitudes of sales and results of continuing operations achieved in the previous year.

By business areas, Elecnor's turnover in Essential Services and Sustainable Projects grew by 5.2%, to 805.8 million euros, while its attributable net profit reached 21.9 million euros (4. 4%).

In the national market, activity continued its growth path thanks to the essential services developed for the electricity, telecommunications, water, transportation and energy distribution sectors, where the company works for all utilities. It is worth highlighting the maintenance activity carried out for both the public and private sectors.

Within the activity of sustainable projects, the construction work of wind and photovoltaic parks stands out, as well as those related to self-consumption and energy efficiency.

In the international market, the increase in business volume is mainly based on the sustainable projects that the group is developing in Brazil and Chile (especially renewable energies and electric power transmission lines).

The construction of photovoltaic parks in the Dominican Republic, wind farms in Brazil, hydroelectric plants in Cameroon, substations in Mozambique and Gambia and transmission lines in Chile, Zambia and Angola also contribute to the growth in turnover and results.

The Essential Services activity of the US subsidiaries (Hawkeye, Belco and Energy Services) stands out in these figures, as well as the distribution and telecommunications contracts that Elecnor develops in Italy.

INTERNATIONAL BIDTH

The executable production portfolio in the next 12 months amounts to 2,788.4 million euros, compared to 2,577.7 million euros at the end of 2023. Of this portfolio figure, 70% corresponds to the international market, for an amount of 1,962.2 million, and 30% corresponds to the national market, for an amount of 826.2 million euros.

The national market portfolio is made up of contracts for Essential Services activities, as well as sustainable projects for the construction of renewable energy plants.

They contribute to the international portfolio in both European countries (Italy and the United Kingdom) and the United States, where services-related activities are carried out, as well as other countries (mainly the Dominican Republic and Brazil), where notable plant construction projects have been contracted. of energy from renewable sources and energy transmission.

Celeo, a 51% company of the Elecnor Group and managed jointly with APG, participates in 7,942 km of electrical transmission lines in Chile, Brazil and Peru, in operation and construction (as at the end of 2023) as well as in 345 MW of energy renewable (photovoltaic and solar thermal) in Spain and Brazil. The total operating assets it manages were around 6,317 million euros at the end of the year.

Celeo's Transmission Networks business has performed well this quarter compared to the same period last year, favored by the increase in price indices that affect the sales rates applicable to transmission lines with a special impact on projects. Brazilians, in addition to the appreciation of the Brazilian real, the currency in which much of the business operates.

Celeo consolidates in the Group's accounts using the equity method, so it does not add sales figures to it.

In this period it has contributed an attributable consolidated net profit of 2.8 million euros (compared to 2.7 million the previous year).

SALE OF ENERPHIN IN THIS SEMESTER

On the other hand, and framed in the group's strategy of rotating investments that consume high capital needs, the company has signed a contract with Statkraft for the sale of 100% of its shares in Enerfín.

In said contract, signed on November 17, 2023, a company value of 1.8 billion euros is estimated, with a cash inflow of 1.4 billion and a net consolidated capital gain of 800 million.

The closing of the operation is expected before the end of the first half of 2024 and until that date the assets and liabilities of the Enerfín subgroup are classified under the heading non-current assets and liabilities held for sale and their results are classified as results of operations. interrupted from the group's income statement, as was done in 2023.

The consolidated net profit attributable generated by this business in the first quarter of the year amounts to 6.7 million euros, compared to 5.7 million euros in the previous year.

PERSPECTIVES 2024

Elecnor estimates that the activities it carries out will be favored by the three major trends that are expected to drive global economic development: environmental and social sustainability, energy transition and electrification of the economy, and urbanization and digitalization of society.

In accordance with its "solid" portfolio of contracts, as well as the geographical diversification and the human team that makes up the group, the company expects that the businesses will exceed this year the magnitudes of sales and results of continuing operations achieved in the previous year, "just as it has been doing year after year for the last decade."