Renewable business specialist Acciona has revealed that its earnings before tax and considerations increased by a healthy 29.2% in 2006 to E960 million, as it continued to expand its business.
Acciona ended 2006 with E1.37 billion in net profit, a 322.8% increase on 2005. The sharp improvement was due primarily to strong growth by the company’s infrastructure and energy divisions, and to the sale of stakes in Vocento and FCC, which provided E1.04 billion in net capital gains.
Consolidated revenues increased by 29.3% to E6.27 billion due to good performance by all the divisions, the company said. Central to the Spanish firm’s strong returns was the impressive performance of its renewable energy division.
Acciona Energy boosted revenues by 60.3%, thanks to a combination of organic growth and the consolidation of CESA from the beginning of the year. Installed wind power capacity increased by 78% in attributable terms, and attributable wind power output increased by 51%. Installed capacity at year-end totaled 3,337MW. Electricity production in 2006 amounted to 6,833GWh.