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Rocio Castro. Communication Department.
November 4, 2009
Abengoa's earnings after tax increased 24 percent in the first nine months.
Seville, November 4th, 2009.- Innovative technological solutions for sustainable development have allowed Abengoa to continue growing through new alliances with strategic partners and through access to new markets.
The consolidated sales increase by 11%, and reached 2.857 M€, generating an Ebitda figure of 463 M€, an 18% increase on the last year. The earnings after tax attributable to the parent company reached 125 M€, which is a 24% increase on the previous year’s figure of 101 M€.
By activities, the Solar business unit's consolidated sales were 71 M€ compared to 29 M€ for the same period the previous year, an incline of 142.7%.
The Bioenergy business group recorded sales of 704 M€ compared to 613 M€ in the previous period, an incline of 15%. The improvement is basically the result of higher sales volumes in Europe, due to the start of year-round operations at both the Lacq, France, and Salamanca, Spain, plants and the higher sugar prices in Brazil.
The Environmental Services business unit's sales were 481 M€ in the third quarter 2009, compared to 630 M€ for the same period the previous year, with a 24 % decrease. This decline is mainly the result of a reduction in the volume of waste treated across all areas of the Group due to lower levels of industrial activity in Europe.
Sales by the Information Technology business unit were 552 M€ compared to 441 M€ the previous year (+26%), highlighting Telvent's strong position.
Finally, the Industrial Engineering and Construction business unit's sales were 1.793 M€, a 40% increase on the 1.285 M€ achieved in the same period the previous year. Of particular relevance has been the progress in the construction of the hybrid solar plants in Algeria and Morocco.
Comparing the quarterly results on a like-for-like basis, excluding the positive impact in the third quarter of 2008 from the capital gain on the sale of land in Baracaldo by Befesa, and taking into account the sale of a 10.5% minority stake in Telvent during the second quarter of 2009, the increase in EBITDA would be 26% and income after tax would have grown by 35%.
At 30 September 2009 the engineering and projects order book was worth €5.550 billion €, a 30% increase compared to December 2008 and equivalent to 19 months of sales in contract activities. Sales in the concessions area are worth €20.866 billion and have an average life span of 24 years.
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