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November

Results for First nine months 2008

November 13, 2008

  • The Gross Cash Flows from Operating Activities figure is 467.2 million euro, which is a 74.3 percent increase on the previous year’s figure.
  • The consolidated Sales in this period were 2,583.9 million euro, a 17.5 percent increase.

Seville, November 13th, 2008.- Today, Abengoa released its results for the first nine months of 2008 financial year in which its consolidated sales were 2,583.9 million euro, which is a 17.5 percent increase on the previous year 1. All of Abengoa’s Business Units increased their sales in this period.

The earnings after tax attributable to the parent company reached 100.6 million euro, which is a 25.1 percent increase on the previous year’s figure of 80.4 million euro. Activity abroad allows Abengoa to continue growing in a more complicated environment, and for the first time ever, international sales now account for more than two thirds of the total.

The Solar business unit’s sales were 29.4 million euro compared to 16.7 million euro for the same period the previous year. The Bioenergy business unit’s sales were 613.1 million euro as against 430.5 million euro the previous year, which is a 42.4 percent increase on the last year. The Environmental Services business unit’s sales were 630.3 million euro in the first nine months of 2008 compared to 543.9 million euro for the same period the previous year, with a 15.9 percent increase. The Information Technologies business unit’s sales were 440.6 million euro as against 389 million euro the previous year (a 13.3 percent increase). Finally, the Industrial Engineering and Construction business unit’s sales were 1,284.7 million euro (870.4 million euro taking into account the 414.4 million euro eliminated in the consolidation process as a result of the engineering projects carried out for the Solar and Bioenergy business groups), a 38.7 percent increase on the 926 million euro achieved in the same period the previous year.

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The Gross Cash Flows from Operating Activities 2 figure was 467.2 million euro, which is a 74.3 percent increase on the previous year’s figure of 268 million euro, with that by the Bioenergy Business Unit, with an increase of 72.2 percent, being of note.

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The earnings before tax were 129.1 million euro, which is a 19.7 percent increase on the 107.9 million euro achieved the previous year.

The earnings after tax attributable to the parent company reached 100.6 million euro, which is a 25.1 percent increase on the previous year’s figure of 80.4 million euro.

We would mention, among the main novelties during this period, Abengoa Solar has completed the financing of the new Solnova 4 Concentrating Solar Power plant and three new photovoltaic plants worth more than €210 million and €70 million respectively.

The Solnova 4 plant, on which construction will begin in September at the Solúcar platform in Sanlúcar la Mayor (Seville), will have 50 megawatts of power output capacity and will use the same parabolic trough technology as the Solnova 1 and Solnova 3 plants already under construction.

The three photovoltaic facilities are located in the towns of Sanlúcar la Mayor (Seville), Las Cabezas de San Juan (Seville) and Linares (Jaén), and will use photovoltaic tracking technology.

Finally, on September, 15 Telvent reached an agreement to acquire, for 445 million dollar, U.S.-based business information services provider, DTN. The acquisition of DTN marks another important strategic step in Telvent fulfilling its vision to help build a sustainable world, by adding an important new segment - agriculture - and by strengthening its existing energy, transportation and environment segments.

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 1,117.3 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.



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