Contact for press

You can contact us by:

Rocio Castro. Communication Department.

Media Kit

Follow us on:

Keep up-to-date on the latest at the Abengoa website:

September

Abengoa's earnings after tax increased 30 percent in the first half

September 1, 2008

  • The Gross Cash Flows from Operating Activities figure is 312.6 million euro, which is an 83.6 percent increase on the previous year’s figure.
  • The consolidated Sales in this period were 1,632 million euro, a 17 percent increase.

Seville, September 1st, 2008.- Today, Abengoa released its results for the first half of 2008 financial year in which its consolidated sales were 1,632 million euro, which is a 17 percent increase on the previous year . All of Abengoa’s Business Units increased their sales in this period. The half yearly financial statements have been subjected to a limited review by the statutory auditor, without qualification.

The earnings after tax attributable to the parent company reached 71.4 million euro, which is a 30 percent increase on the previous year’s figure of 55 million euro.

“The investment that we have made abroad over the last few years allows us to continue growing at a very significant rate. Activity abroad grew by 31.6 percent and is becoming the driving element for the company. This combined with a global leadership position in highly specific segments such as solar energy, desalination and biofuels once again highlights the strength of our business”, says Amando Sánchez Falcón, Abengoa’s Finance Director.

20080901_grafico1_1er_seimestre2008

The Solar business unit’s sales were 17 million euro compared to 8 million euro for the same period the previous year. The Bioenergy business unit’s sales were 384.8 million euro as against 264 million euro the previous year, which is a 45.7 percent increase on the last year. The Environmental Services business unit’s sales were 426 million euro in the first half of 2008 compared to 370.4 million euro for the same period the previous year, with a 15 percent increase. The Information Technologies business unit’s sales were 286 million euro as against 264.7 million euro the previous year (an 8 percent increase). Finally, the Industrial Engineering and Construction business unit’s sales were 763.2 million euro (518.2 million euro taking into account the 245 million euro eliminated in the consolidation process as a result of the engineering projects carried out for the solar and bioenergy business groups), a 57 percent increase on the 486.4 million euro achieved in the same period the previous year.

20080901_grafico1_1er_seimestre2008

The Gross Cash Flows from Operating Activities 2 figure was 312.6 million euro, which is an 83.6 percent increase on the previous year’s figure of 170.2 million euro, with those by the Environmental Services Business Unit and the Industrial Engineering and Construction Business Unit, with increases of 104 percent and 82 percent, respectively, being of note. Excluding land divestments by Befesa Desulfuración in Baracaldo, Environmental Services have grown by 19.2 percent compared to the first half last year.

The earnings before tax were 107.8 million euro, which is a 52.4 percent increase on the 70.7 million euro achieved the previous year.

The earnings after tax attributable to the parent company reached 71.4 million euro, which is a 30 percent increase on the previous year’s figure of 55 million euro.

We would mention, among the novelties and most important contracts in this period, the award of the design, construction, financing and operation of the Tenes-Chlef (Algeria) seawater desalination plant project to Befesa. The investment for construction of this plant is more than 232 million US$. Its production capacity, utilizing reverse osmosis technology, will be 200,000 cubic meters per day, sufficient to enable supply to a population of 800,000.

Likewise, the National Electric Energy Agency of Brazil (Aneel) has awarded the Amazonas Consortium, in which Abengoa holds a 50.5 percent stake, the operation contract for the 586 km, 500 kV power transmission line connecting the towns of Oriximiná, Itacoatiara and Camiri. The concession contract comprises the construction of the necessary installations and subsequent 30 year operation and maintenance of the same. The estimated contract investment is more than 820 million US$.

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 1,572.4 million euro (28/08/2008) 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).

1All comparative data refers to the same period last year

2Earnings before interest, tax, depreciation and amortization, adjusted by the works flows done for own fixed assets.



© 2019 Abengoa. All rights reserved