Catalan infrastructure giant Abertis has made a profit of €293 million during the first half of 2013
For the first 6 months of 2013 the Catalan company Abertis has made a profit of €293, a 62% reduction on last year, according to a report issued by the company to the Spanish Stock Market Authority (CNMV). This year the company has increased its market share in Brazil and Chile and has received part of its income through the sale of its stake in Eutelsat. In spite of the reduction of net profit, the company’s EBITDA is up 23% on last year to €1.43 billion. Abertis specialises in three business areas: airports, toll roads and telecommunication infrastructures. 65% of the firms’ revenue comes from outside Spain.
Barcelona (ACN).- The Catalan infrastructure group, Abertis, announced today that despite a 62% reduction on last year, the company has still made a profit of €293million for the first half of the year. As a result of an international expansion, the company now operates in 12 countries in America and Europe. The group focuses on three main business areas: airports, toll roads and telecommunication infrastructures. Revenue is up by 27% on last year to €2.39 billion. In recent months Abertis has obtained contracts in Brazil and Chile which caused this increase along with the sale of its stake in Eutelsat. The current economic crisis in the European zone has meant that the company has received 65% of its revenue and 60% of its EBITDA from outside the continent. Their net debt stands at €13.76 billlion; however, this is a reduction of 2.6% from last year. This week it was announced Abertis bought 16.42% of Spanish satellite operator Hispasat, making it the majority shareholder with 57.05% of the shares.
Abertis is the third largest toll road operator in Europe and the largest in countries such as Spain and Chile. It directly manages over 7,000 km of road worldwide. Following the addition of 9 toll road concessions in Brazil and 3 in Chile, the company has been able to compensate for a reduction in profits from France and Spain. These two acquisitions contributed €488million to their revenue for the past six months. Of their total revenue for the past half year: 86% was made from toll roads, 9% from the telecommunications sector and 5% from airports.
Regarding disinvestment, the company has sold part of its share in the airport operator TBI in Europe and the United States, which produced €317million. Similarly, the sale of 3% of Eutelsat left Albertis with a 5% stake in the French based satellite operator and made the company €182milion. Finally, it also sold its share of Overon, which will bring in €41million.