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Abengoa's consolidated sales increased 14 percent in the first three months

May 13, 2010

  • Ebitda reached €202 M, a 6% increase.
  • The earnings after tax increased by 6%, and reached €54 M.

Seville, May 13th, 2010.- The consolidated sales increase by 14%, and reached €1,208 M, generating an Ebitda figure of €202 M, a 6% increase on the last year. The earnings after tax attributable to the parent company reached €54 M, which is a 6% increase on the previous year’s figure of €51 M.

Innovative technological solutions for sustainable development have allowed Abengoa to continue growing through new alliances with strategic partners and through access to new markets.

Within the overall increase in Abengoa’s activity, sales in the Bioenergy business grew by 53% compared to the same period the previous year thanks to the coming into production of the new plants in Indiana and Illinois in the USA, as well as higher activity levels in Europe (mainly from the incorporation of 100% of the ethanol plant in Salamanca). Likewise, it is important to consider the recovery of the Industrial Waste Recycling in Befesa, whose sales rose to €136 M which is a 45% increase compared to €93.8 M in the same period of the previous year.

In relation to the international activity, the business in Spain accounted for more than one third of total activity (35%), while abroad activity accounted 65%. Latin America represented 30%, the USA 15%, Europe (excluding Spain) 14% and the rest of the world 6%.

(1) Application of the IFRIC 12 interpretation on Service Concession Arrangements for the first time as from 1 January 2010. The information published in the first quarter of 2009 has been restated in accordance with the cases and requirements of IFRS 8 to make it comparable with the information for the first quarter of 2010.

The average number of employees in Abengoa in the first quarter of 2010 rose by 13% to 24,305 compared to 21,461 in 2009. In the first three months of 2010 Abengoa had 14,642 employees located outside of Spain (60%) compared to 11,906 in Q1 2009 (55% of the total).

At 31 March 2010 the engineering and projects order book was worth €7,563 M, and equivalent to 33 months of sales in contract activities. Sales in the concessions area are worth €20,821M and have an average life span of 24 years.

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