Acciona reaffirms its outlook for this year due to the exceptional performance of its subsidiary Nordex and the positive evolution of its infrastructure business, which compensates for the decline in energy production. Group chaired by Jose Manuel Entrecanales Maintain EBITDA forecast (Total operating income) will be in the range of 2.7 billion to 3.0 billion, with a higher contribution from the German subsidiary and a lower contribution from energy than originally planned.
This is reflected in the business trend report sent to the National Securities Market Commission (CNMV) this Thursday to update the progress at the end of the third quarter, which does not include the main items of the quarterly financial accounts. The company used the event to report new developments in its energy asset rotation strategy. The company achieved 800 million contracts in the first nine months of this year and plans to continue to build on this. Additional work with approximately €1 billion of added value. “These operations are at an advanced stage and an agreement could be reached soon, allowing them to achieve their operational target of 1.5 billion to 1.7 billion, albeit with some lag from the originally planned schedule,” the group said.
In the energy business, the report includes a decline in energy production forecasts for this year, currently estimated to be around 25,000 gigawatt hours (GWh) compared to the expected 26,000 gigawatt hours (GWh) due to “slower and more complex” commissioning of new equipment, but there should be a temporary impact. In this scenario, operational evolution and asset rotation operations in Spain, Peru, and Costa Rica are completed by the end of the year. Reiterates annual EBITDA target in the range of 15 million to 1.75 billion.
Meanwhile, with the renewable energy environment more stable compared to previous quarters, Acciona Energía has decided to undertake new selective developments in the Philippines, Thailand and Chile, with total annual investment before rotation expected to be between €1.4 billion and €1.45 billion, up from the originally estimated €1.3 billion. Additionally, the company is analyzing repowering opportunities in various markets by leveraging existing sites to increase renewable energy production, reduce costs and accelerate decarbonization without occupying new land.
In infrastructure, the group’s third quarter was overshadowed by the $9.62 billion financial closure of the SR-400 expressway in Atlanta (USA). This is the largest fixed-income public-private financing (PPP) project ever implemented in the U.S. market, contributing approximately $1.9 billion to the publicly traded company’s global infrastructure portfolio. 30,551 million as of the end of September -7% increase from the beginning of the year. Meanwhile, the real estate business increased its pre-sale portfolio to 1,790 units (up 145.3%) and its management company Bestimber ended September with assets under management of €7.328 billion, up 7.9%.
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