Abertis’ turnover increased by 25% in 2013 to reach €4.65 billion
The profits of Barcelona-based Abertis, a world leader in the toll road management sector, dropped by 39.8% in 2013 compared to 2012 figures. However, the company emphasised that both years are “not comparable” since profits were particularly high in 2012 due to the capital gains from selling corporate shares. If those operations were not taken into account, the recurring profit would have indicated a 6.5% growth. However, the Catalan multinational’s net profit amounted to €617 million in 2013, as opposed to the €1.02 billion reached in the previous year, as reported to the Spanish Stock Exchange Regulation Authority (CNMV) on Wednesday. Abertis’ EBITDA was set at €2.92 billion, representing an increase of 23.6% while the turnover increased by 25% to reach €4.65 billion.
Barcelona (ACN).- The profits of Barcelona-based Abertis, a world leader in the toll road management sector which also has a telecommunications branch, dropped by 39.8% in 2013 compared to 2012 figures. However, the company emphasised that both years are “not comparable” since profits were particularly high in 2012, due to the 25% of capital gains derived from the sales of Eutelsat, while capital gains in 2013 amounted to 3%. If those operations were not taken into account, the recurring profit would have indicated a 6.5% growth. However, the Catalan multinational’s net profit amounted to €617 million in 2013, as opposed to the €1.02 billion reached in the previous year, as reported to the Spanish Stock Exchange Regulation Authority (CNMV) on Wednesday. Abertis’ EBITDA was set at €2.92 billion, representing an increase of 23.6% while the turnover increased by 25% to reach €4.65 billion.
The 2013 results include for the first time the management of highways in Brazil and Chile, which contributed to €500 million of the consolidated EBITDA.
Almost two-thirds of the multinational’s revenues were generated outside of Spain, mainly in Brazil and Chile as well as in France. Out of the total, 90% were derived from the toll road management sector while the remaining 10% correspond to the telecommunications sector, after the company sold its airport division.
Operating expenses rose due to the incorporation of highways in Brazil and Chile
Operating expenses rose to €1.73 billion, mostly due to the incorporation of the new highways in Brazil and Chile while gross operating income grew by 25 % to reach €2.92 billion. The two Latin-American countries accounted for a quarter of the total operating business of the company.
Reduction of the company’s net debt
Abertis’ net debt was reduced by 7% and about 1 billion in 2013, amounting to €13.16 billion. Moreover, at the end of the year, the Catalan multinational had liquidity of €6.5 billion, €3.1 billion of which are available and the remaining €3.4 billion comprised in credit lines.
€1.18 billion of investments
Investments totalled €1.18 billion, €1.04 billion of which were allocated to the company’s expansion and €137 million to current operation investments. The major projects included the acquisition of an additional 16% of the Spanish satellite company Hispasat (€173 million), the purchase of mobile phones (€118 million), significant investments in Brazil for the construction of new roads (€367 million) and the acquisition of an additional 4.7% of Arteris (€127 million).
The Board of Directors will propose during a general meeting scheduled for the 1st of April that that shareholders receive a dividend of €0.33 per share.