May 14, 2018 – Abengoa (the “Company”) (MCE: ABG.B/P), the international company that applies innovative technology solutions for sustainability in the infrastructure, energy and water sectors, announces financial results for the first quarter of 2018.

One of the areas of focus for Abengoa’s management is safety in the workplace. In this sense, during first quarter of 2018, the Company continues to improve indicators with a Lost Time Injury Rate (LTIR) of 2.7, well below the 6.3 in the first three months of 2017, which represents significant progress towards Abengoa’s Zero Accident target.

During the first quarter of 2018 Abengoa recorded revenues of €300 million and EBITDA of €43 million, a considerable improvement in profitability in comparison to the same period in 2017.

The significant increase in EBITDA in the first quarter of 2018 has been mainly driven by continued improvements in general expenses and the lack of one-off adjustments due to the costs of restructuring advisors in 2017.

Abengoa continues making significant efforts towards the reduction of overheads in a socially responsible manner.  Overhead costs amounted to €19 million in the first quarter of 2018, a substantial improvement in comparison with the €38 million recorded in the same period of 2017.

Net result reached €33 million, mainly due to the sale of a 25% stake in Atlantica Yield.

The gross financial debt amounts to €5,080 million, after a reduction in debt due to the sale of the 25% stake in Atlantica Yield.  Further reductions are expected in the short term with the sale of the remaining 16.5% stake in Atlantica Yield. Out of the €5,080 million of gross financial debt, €1,801 million correspond to debt of companies classified as held for sale.

The Company has obtained new bookings for a total approximate value of €802 million in the United Arab Emirates, Chile, Spain, United Kingdom, Mexico and Peru, among others. Taking into account the recent bookings, the total backlog as of March 31, 2018 amounts to €1,972 million.

Abengoa continues to satisfactorily fulfill its disinvestment commitments with the complete sell-down of its stake in Atlantica Yield (AY). The Company has reached an agreement with Algonquin Power & Utilities Corp to sell the remaining 16.5% stake in AY at $20.90 per share.  The sale is expected to close in the coming weeks and the resulting net proceeds will be fully dedicated to debt amortizations.