Acciona delivers Spanish ray of sunshine from tough 2016
Spanish firm Acciona Agua appears to be one of the major project developers to come away from 2016 unscathed...
MADRID, Spain – With multiple financial results being released, it’s clear that 2016 has been a tough year for global water project developers.
Singapore firm Hyflux managed to double its revenue but increased costs meant company profits declined 91% from the previous year.
Only weeks before and Spanish environmental services group FCC reported that revenues in its Aqualia water division dropped 2.3% since the previous year.
In France, revenues in Suez’s water division were reported down from €4.8 billion to €4.7 billion, with Veolia’s water revenues down to €11.1 billion, from €11.4 billion the previous year.
Meanwhile Spanish firm Acciona Agua appears to be one of the major project developers to come away from 2016 unscathed.
The group reported a 57% boost in revenue for its water division to a record €708 million last year.
Acciona’s financials were boosted significantly from the global consolidation of ATLL, Barcelona’s bulk water concession, together with two desalination projects in Qatar and water treatment plant in the Philippines.
This led to a three-fold increase in EBITDA (earnings before interest, tax, depreciation and amortization) to €119 million.