An Abengoa project in Morocco using parabolic troughs.Photograph: Abengoa
Abengoa shines as sales and profits rise with global profile
Spanish renewable energy group Abengoa continued its international push in the first quarter of 2012, with the Americas accounting for almost half of the company’s revenues in the period.
Abengoa – which is racing to grow outside Spain – says the US and Brazil alone generated 31% of its turnover in the first three months.
The Spanish group made a €89m ($117m) net profit in the first quarter, 58% higher than at the same stage last year. Sales were 18% ahead at €1.76bn.
The company is involved in a number of major concentrating solar power (CSP) projects in the US, including the 280MW Solana in Arizona and Mojave Solar in Califoirnia.
Best known for solar-thermal and bioenergy, Abengoa has also entered the wind-power plant construction business in Brazil and Uruguay.
Abengoa’s expectations for the full-year 2012 remain unchanged, at revenues of €7.55bn to €7.75bn and earnings before interest, tax, depreciation and amortisation (Ebitda) of €1.275bn to €1.325bn.
Published: Friday, May 4 2012
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