Abertis increases recurrent net profit and revenues in H1 2013
Abertis has informed that it continues to achieve improvements in all of its main financials in the first half of 2013, with growth in revenues (+27%), EBITDA (+23%) and recurrent net profit (+6%).
The Group's total net profit amounted to €293 million (-62%). The decrease in net profit was the result of the capital gains from the sale of the various tranches of the Eutelsat stake completed during the first half of 2012 and during the course of 2013.
The summary of H1 2013 results follows:
- Revenues: €2,388Mn (+27%). 65% of revenues are now generated outside of Spain.
- EBITDA: €1,433Mn (+23%).
- Recurrent net profit: €283Mn (+6%).
- Net debt: €13,755Mn (-2.6%).
The integration of the new concessions in Brazil and Chile, acquired from OHL, contributed €488 million to Abertis revenues.
Abertis also reported that traffic performance in Brazil (+4.6%) and Chile (+8.1%) offset the weaker performances in France (-0.7%) and Spain (-9%).
Net debt stood at €13,755 million at the end of the first half, with a reduction of €374 million from year-end 2012. During 2013, Abertis has closed two bond issues: 10-year 3.75% bond for €600 million in Spain and 6-year 2.5% bond for €300 million in France.
In the first half, the company has continued with its portfolio rotation policy, which has included:
- The taking of control at Hispasat, acquiring 16.42% for €172.5Mn.
- The sale of airport assets in Europe and the US for €317Mn.
- The sale of 3% of Eutelsat for €182Mn, leaving the current stake at 5%.
- The sale of 51% of Overon to Grupo Imagina for €41Mn.
Country news
-
-
July 29, 2013
Ferrovial reports 12 % growth in net profits in H1 2013
Ferrovial has informed that it has obtained €287 million in net profit in the first six months of 2013, an improvement of 12% year-on-year. EBITDA in the first half totalled 415 million euro, compared with €439 million in the same period last year. Revenues expanded by 2.8% in the period, to €3.758 billion. Revenues outside Spain increased by 11.8% compared with the first half of 2012, to account for 67% of the total. Read more -
July 29, 2013
Update 1: EU Project bonds for Project Castor refinancing
Reuters published on July 12th, 2013, that the first EU project bond is to be issued under EU's Europe 2020 Project Bond Initiative. Read more -
August 02, 2013
Financial Close achieved for A-66 highway in Spain
The consortium formed by Acciona, Read more -
August 14, 2013
Financial Close for Vigo hospital concession
On 2 August 2013, AXIS, the private equity arm of the Spanish public bank, Instituto de Crédito Oficial (ICO), has participated in the €320 million financing of Vigo hospital concession with a participative loan of €30 million. Read more -
August 20, 2013
Investment opportunity to acquire and develop a new Marina in Spain
We are delighted to share with you an interesting distressed investment opportunity: the acquisition of the company with the concession contract to develop and operate for 35 years a new marina of 566 berths and 7.000 sqm of retail premises in the city of Malaga, in the south of Spain. Read more
