The Acciona group obtained a net profit of 441 million euros in 2022, which represents an increase of 33% compared to the previous year, boosted by its energy division. As reported by the company to the National Securities Market Commission (CNMV) in the long term, with income of 2,111 million euros, 121% more.
The corporation headed by José Manuel Entrecanales also suffered a negative impact of 35 million euros due to the deterioration of the company’s energy assets in Ukraine and the negative contribution of 194 million euros from Nordex, so growth could would have been higher excluding these two effects. For its part, total revenue stood at 11,195 million, which represents an interannual growth of 38%, while the gross operating result (Ebitda) grew by 39%, to 2,068 million euros.
According to the income statement, Acciona ended the year with a net financial debt of 5,253 million euros and improved the net debt/Ebitda ratio with a drop from 2.93 times to 2.54 times. Investments amounted to 2,004 million euros, 22.5% more, excluding the divestments made in 2021 due to the IPO of Acciona Energía.
The Acciona Energía business, which contributes 79% of the group’s gross operating profit (Ebitda), obtained net attributable profit of 759 million euros, a figure that doubles that of last year and which was accompanied by an increase of 76 % of revenue, up to 4,351 million euros. This good evolution is explained by the general environment of high energy prices (the average generation price rose by 51%, to 114 euros/MWh), by the commercial and risk management carried out throughout the year and by the greater stability of financial costs.
In 2022, the company entered into power purchase agreements (PPAs) for a total of 2.5 TWh. Among the agreements signed, the agreements with Fortia (which make up some of the main industrial groups in Spain), Interxion, Mango, Makro, ZEN Energy and the Barwon Renewable Energy Partnership (BREP) stand out. The total installed capacity as of December 2022 was 11,826 megawatts (MW), 5.2% higher, with a net increase of 581 MW that reflects the new capacity built (706 MW) and a certain reduction in perimeter in Spain (124 MW) . The company began a consolidated production of 19,657 GWh, 2.2% lower, mainly due to a worse general resource, particularly hydraulic, but also due to spills and some assets with low availability due to technical incidents.
For its part, the Infrastructure division, which includes the construction, concessions, water and urban services and environment businesses, entered 6,016 million euros, 23.5% more, with notable growth in Brazil, Australia, Canada and Saudi Arabia. . During 2022, it won new awards worth 9,142 million euros, which boosted the portfolio to new all-time highs of 22,020 million euros, 21.7% higher than a year ago. By geographies, it is distributed between Australia and Southeast Asia (29%), Spain (18%), Latin America (27%), Europe-Middle East and Africa (20%), and the US and Canada (5% ).
In this context, Infrastructure posted an Ebitda of 369 million, 14.2% more, and a margin of 6.1%, driven by the improvement in profitability in Construction, a strong international activity. The rest of the group’s activities subtracted 200 million euros from the profit before taxes, compared to the positive contribution of 1000 million from Energy and 87 million from Infrastructure. This segment includes the Real Estate area, which nevertheless increased revenue by 30% after delivering 617 homes, 39.3% more; Bestinver, which will owe its turnover by 21% due to the negative evolution of the fixed income and variable income markets during the year; Services, with an increase of 9.4% in its activity; and Silence, which increased the number of vehicles sold by 43% in 2022, reaching 12,826 units.
