The increase was due primarily to proportionate consolidation of its 25.01% stake in Endesa, which contributed E868 million, or 64.3% of Acciona’s total EBITDA, and Acciona Energy’s contribution of E302 million, or 22.3% of the total. Acciona’s electricity business contributed to 86.8% of EBITDA.
Revenues in the first six months of the year totaled E6.02 billion, up 83.9% from the first half of 2207, primarily due to the proportionate consolidation of its 25.01% stake in Endesa, which provided E2.71 billion and the 73.2% increase in sales at Acciona Energy.
The company’s net attributable profit totaled E314 million, while earnings before interest and taxes tripled, from E300 million to E918 million.
Acciona’s capital expenditure in the first half of 2008 amounted to E1.14 billion, approximately half of which, around E580 million, was invested in organic growth in Acciona Energy, and E356 million related to the proportionate consolidation of investments by Endesa.
Acciona also consolidated divestments amounting to E2.29 billion due to the sale of Endesa assets to German utility major E.ON. Acciona’s half-yearly earnings did not reflect the gains from these sales.
