- Revenues: €1,095Mn (+4%).
- EBITDA: €686Mn (+8.2%).
- Net profit: €125Mn (+6% recurrent).
- Traffic January-April 2014: +3.8% across whole Abertis network, +2.7% in Spain
Barcelona, 9-5-2014 — /EuropaWire/ — Abertis outperformed market profit forecasts in the first quarter of 2014, with its main performance indicators all improving, including revenues (+4%), EBITDA (+8.2%) and recurrent net profit (+6%), at a time of increasing global traffic, with the positive trend seen in Spain over recent months becoming more deeply entrenched.
The Group’s ADT (Average Daily Traffic) was up 3.8% in the first four months of the year (this is comparable to the previous year as both include the effects of the Easter week holidays). There were significant increases in Chile (+5.2%), Brazil (+4.7%) and France (+4.1%), which grew more strongly than the company’s forecasts.
The changing trend in Spain was confirmed, with positive figures from January to April. Traffic in this period was up 2.7%, the largest percentage increase since the same period in 2007. However, traffic in Spain fell by 2.7% in the first quarter, impacted by the effects of the Easter week holidays falling outside the first quarter in 2014.
The first quarter results are affected by changes in the scope of consolidation compared to the same period in 2013, making comparisons difficult. In 2013, gains of €20Mn in 2013 were posted from the sale of a 3% holding in Eutelsat, whilst 2014 includes the full consolidation of the results of Metropistas in Puerto Rico, Hispasat, and the concessionaire Autopista del Sol in Argentina.
The first quarter results were also affected by the application of new accounting criteria and exchange rate impacts, particularly the depreciation of the peso in Chile and Argentina and the real in Brazil.
The Group’s total net profit was €125Mn in the first three months of the year. Excluding extraordinary effects, net profit increased by 6%.
Meanwhile, the Group’s internationalisation process became more firmly established in the first quarter of 2014, with France and Brazil being particularly significant. The Group generated 63% of its revenues and 60% of EBITDA outside Spain in the period.
As announced at the General Shareholders’ Meeting, one of the Group’s overriding objectives for 2014 is growth, focusing on the toll road sector in North America and Europe, and projects that drive the internationalisation of its telecommunications business through the satellite sector and mobile phone towers.
In April, Abertis was involved in the tender for Queensland Motorways, which manages five toll road concessions in Australia. Despite submitting the second best offer from the perspective of an industrial operator and one that reflected its profitability and financial prudence requirements, the Group was not successful on this occasion.
Corporate Communication Department
Tel: +34 93 230 50 94 Tel: +34 93 230 57 99