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November

Results for Third Quarter 2007

November 15, 2007

Abengoa’s earnings after tax increased 12.0 percent in the third quarter

  • The Gross Cash Flows from Operating Activities figure is 268.0 million euro, which is a 36.6 percent increase on the previous year
  • The consolidated Sales in this period were 2,199.3 million euro, a 23.0 percent increase

Seville, November 15th, 2007.- Today, Abengoa released its results for the third quarter of 2007 financial year in which its consolidated sales were 2,199.3 million euro, which is a 23.0 percent increase on the previous year. All of Abengoa’s Business Units increased their sales in this period.

Abengoa’s Finance Director, Amando Sánchez Falcón, has explained that «these results confirm the strength of our business and the correctness of our diversification strategy on the creation of new technologies that contribute to sustainable development».

The Solar business unit’s sales were 16.7 million euro to September 30th, 2007. The Bioenergy business unit’s sales were 430.5 million euro as against 325.2 million euro the previous year, which is a 32.4 percent increase on the last year. The Environmental Services business unit’s sales were 543.9 million euro in 2007 compared to 364.4 million euro for the same period the previous year, with a 49.3 percent increase, mainly due to the incorporation of BUS, whose sales over this period amounted to 131.7 million euro. The Information Technologies business unit’s sales were 389.0 million euro as against 302.0 million euro the previous year (a 28.8 percent increase). Finally, the Industrial Engineering and Construction business unit’s sales were 819.1 million euro, a 2.9 percent increase on the 796.3 million euro achieved in the same period the previous year.

The Gross Cash Flows from Operating Activities 1 figure was 268.0 million euro, which is a 36.6 percent increase on the previous year’s figure of 196.2 million euro, with those by the Environmental Services business unit and the Information Technologies business unit, with increases of 135.8 percent and 25.5 percent, respectively, being of note.

The earnings before tax were 107.9 million euro, which is an 14.8 percent increase on the 94.0 million euro in the third quarter of 2006.

The result after tax attributable to the parent company is 80.4 million euro, an 12.0 percent increase on the previous year’s figure of 71.8 million euro.

For the purposes of enabling comparison of homogenous figures, the effect the acquisition of BUS has had on the profit after tax in the third quarter of 2007 (8.8 million euro), the impact of the financial result derived from the participations in officially listed shares (negative by 1.9 million euro in the third quarter of 2007 and positive by 8.9 million euro in the third quarter of 2006) and the effect of the profit eliminated in the third quarter of 2007 from intragroup activities must be isolated. If these effects are eliminated, the result after tax attributable to the parent company would have experienced a 34.9 percent growth.

Abengoa is a technological company that applies innovative solutions for sustainable development in the infrastructures, environment and energy sectors. It is a listed company with treasury stock of 2,345.0 million euro (14/11/2007) and is present in more than seventy countries where it operates with its five business units: Solar, Bioenergy, Environmental Services, Information Technologies, and Industrial Engineering and Construction. (www.abengoa.com).

1Earnings before interest, tax, depreciation and amortization, adjusted by the works flows done for own fixed assets.



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