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Abengoa’s earnings after tax increased 21 percent in 2009

February 25, 2010

  • Ebitda reached €750 M, a 39% increase.
  • The consolidated Sales increased by 10%, and reached €4,147 M.

Seville, February 25th, 2010.- For the fourteenth year in a row, that is, since Abengoa was listed on the stock Exchange, we have achieved a profitable double-digit growth rate as a product of concentrating our efforts on high-growth businesses that offer innovate solutions for sustainability and our focus on geographical diversification.

The consolidated sales increase by 10%, and reached €4,147 M, generating an Ebitda figure of €750 M, a 39% increase on the last year. The earnings after tax attributable to the parent company reached €170 M, which is a 21% increase on the previous year’s figure of €140 M.

By activities, sales by the Solar business group increased by 78% to €116 M compared to €65 M the year before, and included the start up of the 20 megawatt PS 20 solar plant using tower technology.

The Bioenergy business group recorded sales of €1,010 M compared to €830 M in the previous period, an incline of 22%. 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 €722 M in 2009, compared to €873 M for the same period the previous year, with a 17 % 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 €759 M compared to €697 M the previous year (+9%). The growth in sales has been driven by the strong performance of the energy activity, both in the electricity business and in the oil and gas business, as well as by the boost from the contribution of Telvent DTN.

Engineering and Industrial Construction recorded a 29% increase in gross sales to €2,576 M compared to €1,993 M the previous year, with important progress in the construction of high voltage lines in Brazil and Peru, as well as in the construction of solar plants in Spain, Algeria and Morocco.

At 31 December 2009 the engineering and projects order book was worth €7,655 M, an 86% increase compared to December 2008 and equivalent to 26 months of sales in contract activities. Sales in the concessions area are worth €30,666 M and have an average life span of 24 years.

Finally, in line with our commitment to transparency, in 2009 we have voluntarily subjected our reports on corporate governance and corporate social responsibility, our inventory of greenhouse gas emissions, our SOX internal control system, as well as the design of our risk management system to external verification with the widest possible scope and the highest degree of assurance.

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