Wind output shores-up profits at Acciona, but installation slows

Spanish energy and infrastructure giant Acciona made a net profit of €29m in the first quarter of the year – 49% down from the same period in 2011 – and saw renewable project construction slow.

Revenues increased by 9.5% to €1.59bn, while earnings before interest, tax, depreciation and amortisation (Ebitda) grew by 6.5% to €328m.

Acciona says the multi-faceted group’s Ebitda increase was “due fundamentally” to the performance of its energy division, Acciona Energía. It increased sales by 17.8% to €503m with an Ebitda of €289m – 11.5% higher than the previous year.

This was boosted by an increase in installed capacity of 591MW, mainly wind power, over the last 12 months. That led to an 11.8% boost to production, helped by higher load-factors at Acciona’s international wind…

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