ACCIONA POSTS €441 MILLION
NET PROFIT, INVESTS €2 BILLION
REVENUE
Grew to €11.2 billion (+38.1%), with solid progress in ACCIONA Energía and
the infrastructure business unit
EBITDA
Reached €2.07 billion (+39.4%), driven by growth in ACCIONA Energía and improvement in profitability in the Construction unit, mainly internationally
LEVERAGE
The net debt-to-EBITDA ratio stands at 2.54x, whereas it was 2.93x in 2021
INFRASTRUCTURE
The division ends the period with a €22.02 billion (+21.7%) project backlog
ACCIONA ENERGÍA
Long-term clean electricity sales to companies grow steadily to €2.11 billion (+120.9%)
OTHER BUSINESSES
The Real Estate business delivered 617 new homes in total (+39.3%)
Saudi Arabia – Gulf Tech.
ACCIONA closed 2022 with a net profit of €441 million (+32.7%). In a complex environment, the group maintained its commitment to growth throughout the year, with a total investment of over €2 billion. ACCIONA Energía was boosted by the good performance of its long-term clean electricity commercialization business for companies, with revenues of €2.11 billion (+120.9%). The infrastructure business unit ended the year with a record backlog of €22.02 billion (+21.7%).
ACCIONA’s total revenues for this period grew to €11.2 billion (+38.1%). The infrastructure division posted revenues of €6.02 billion (+23.5%), with strong growth in Brazil, Australia, Saudi Arabia and Canada. ACCIONA Energía’s turnover reached €4.35 billion (+76%), of which almost half (€2.11 billion) came from the supply of clean energy to companies, which grew strongly (+120.9%) during the period. The rest of the group’s activities (real estate, Bestinver, urban electric mobility, airport handling, services and ACCIONA Cultura) turned over a total of €1.18 billion (+12.1%).
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) reached €2.07 billion (+39.4%). The infrastructure division contributed €369 million (+14.2%); ACCIONA Energía, €1.65 billion (+52.2%); and the rest of the businesses, €73 million (-29.3%).
The group’s pre-tax profit reached €869 million (+51.1%), affected by the impairment of the company’s energy assets in Ukraine (-€35 million) and by the negative contribution of Nordex
(-€194 million). Excluding Nordex’s impact, pre-tax profit would have amounted to over €1.06 billion (+62%).
ACCIONA closed the year with a net financial debt of €5.25 billion, with an improvement in the net debt-to-EBITDA ratio, which decreased from 2.93x to 2.54x.
Net investment reached over €2 billion (+22.5%, excluding divestments made in 2021 in relation to ACCIONA Energía’s IPO). As part of its deployment plan, ACCIONA Energía invested €1.28 billion (+56.2%); Infrastructure, €244 million (+31.5%); Real Estate, €61 million (-73%); and the other businesses, €421 million. The latter includes €243 million of investment in Nordex as part of two capital increases carried out in 2022, which elevated ACCIONA’s stake in the wind turbine manufacturer from 33.6% to 40.97%.
INFRASTRUCTURE
ACCIONA’s Infrastructure division achieved a turnover of €6.02 billion (+23.5%). By geographical area, revenues came mainly from Australia and Southeast Asia (30%); Spain (19%); Europe, the Middle East and Africa (26%); Latin America (17%) and the US and Canada (7%).
In 2022, the company won new contracts worth €9.14 billion. The most significant of the year was the award of the Sydney Western Harbour Tunnel (€2.75 billion), the largest project in ACCIONA’s history. Other relevant projects include the Collahuasi desalination plant in Chile (€258 million), the expansion of the Palma de Mallorca airport (€218 million) and the La Serena hospital in Chile (€134 million).
The total Infrastructure backlog broke its record and reached €22.02 billion (+21.7%). By geographical area, the backlog is split between Australia and Southeast Asia (29%); Spain (18%); Latin America (27%); Europe, Middle East, and Africa (20%); and the US and Canada (5%).
The infrastructure business unit closed 2022 with €369 million of EBITDA (+14.2%) and an EBITDA margin of 6.1%, driven by improved returns in the Construction activities, mainly internationally.
Within the division, the Construction business recorded €4.56 billion (+25.8%) in revenues with EBITDA of €227 million (+39.4%). The Water business posted revenues of €1.27 billion (+20.9%) with €89 million of EBITDA (-11.2%), mainly reflecting the impact of rising energy costs on operations and maintenance activities. Urban and Environmental Services closed the year with revenues of €148 million (-10.3%) and €15 million of EBITDA (+10.9%). Concessions turned over €52 million (-1.8%) with €37 million of EBITDA (-18.8%), reflecting the divestment from a portfolio of assets in Spain that was completed last year.
