Transport and telecommunication infrastructure company Abertis has a 594 million euro net profit for the last nine months
The Catalan multinational company Abertis announced its results for the first three first quarters of 2011. Abertis’ net profit increased by 5.9% compared to the same period in 2010. The Barcelona-based company also announced that the segregation of Saba Infrastructures is complete.
Barcelona (ACN).- Abertis, with their headquarters in Barcelona, obtained a 594 million euros net profit during the first nine months of 2011, which represents an increase of 5.9% compared to the results from the same period in 2010. 2011 has been a key year for the Catalan multinational working on managing transport, logistics, and telecommunications infrastructure. During 2011, Abertis reorganised its different participant businesses and it completed the segregation of the logistics and parking company Saba Infrastructures. Without the capital gains obtained by selling the 6.68% share of Atlantia and the segregation of Saba Infraestructures, Abertis\u2019 net profit would have been 575 million euros, 5.6% up on 2010. Looking at the multinational\u2019s activity sectors, the highway branch continues to be Abertis\u2019 main business, generating 79% of total revenues. 13% corresponded to telecommunications infrastructure and 8% for its airport division.
Abertis\u2019 highways had almost 2.35 billion euros in revenue in the first nine months of 2011, a figure 1.3% smaller than the same period in 2010. Telecommunications infrastructure generated revenue to the amount of 383 million euros, 9% less than in the same period in 2010. The airport management branch had revenues of 223 million euros, 6% more than in 2010. Abertis Airports is one of the companies participating in the public tender to manage Barcelona El Prat Airport.
Aberis\u2019 operation costs decreased by 3%. This fact combined with an increase in earnings before interest, taxes, depreciation and amortization (EBITDA) of almost 2%, are just two of the explanations behind the good results for the first nine months of 2011. In addition, the increase in the highway business in France but especially in the United States has been particularly positive for the company.
The Catalan multinational\u2019s operation revenues for the first nine months of 2011 represented 2.96 billion euros, almost equal to the same period in 2010 (-0.1%). However, the percentage of revenue coming from outside Spain increased and already represents 52% of Abertis\u2019 total revenues. It mainly originates in France, Chile, and the United Kingdom.