Acciona increases its profits by 353% to 526 million euros

Acciona posted net attributable profit of €526 million in the first half of the year, up 353.3% or four and a half times compared to the same period last year, according to the company's filing with the National Securities Market Commission (CNMV).

In total, the company generated revenue of €9.231 billion during the first quarter of the year, 5.2% more than the same period last year. Likewise, gross operating profit, or EBITDA, stood at €1.557 billion, an increase of 57%.

Acciona explained that this result is "in line with expectations for the year as a whole." "The electricity price environment in Spain has been higher than expected, the construction business remains highly profitable, and the asset rotation program is progressing satisfactorily," the company emphasized.

These are results presented after being implicated in the "Koldo case" reports. It should be recalled that on June 12, a report from the Central Operational Unit (UCO) of the Civil Guard was released, implicating the company as an alleged beneficiary of public contracts in exchange for illegal kickbacks during José Luis Ábalos and Koldo García's tenure at the Ministry of Transport. Following this, the company launched an internal investigation and dismissed the then director of its Construction division, Justo Vicente.

Acciona explained that the good operational progress of its businesses allows the group to maintain its target of achieving an EBITDA of between 2.7 and 3 billion euros at year-end , of which asset turnover will contribute between 500 and 750 million euros, as well as its leverage target of 3.5 times EBITDA.

Acciona Energía closed the first half of 2025 with a 10.2% increase in revenue and a 116.9% increase in EBITDA, reaching € 908 million . "The trend observed during the first quarter of higher-than-expected captured prices globally continues, offsetting the weaker production," it explained. Regarding EBITDA, €664 million came from operations and €443 million from asset turnover.

In operational terms, the company added 448 megawatts of new capacity in the first half of the year and plans to install approximately 0.6 gigawatts for the full year, after adjusting its initial target of one gigawatt as a result of the suspension of two battery storage projects in the US. "This revision reflects our cautious strategy adopted after having passed the peak of the recent investment cycle," explained Acciona, which maintains the objective of containing investment to around 1.3 billion and the commitment to debt reduction.

In infrastructure, the company recorded an 8.2% increase in revenue and a 6.3% increase in EBITDA in the first half of the year. It highlighted the growth in activity in Oceania, driven by increased production from projects such as the Western Harbour Tunnel, the M-80 Ring Road, Central West Orana, the Suburban Rail Loop, and the Alkimos desalination plant.

The global infrastructure portfolio stood at €29.4 billion as of June 30, 2025, a 3% increase compared to December 31, 2024. Including projects consolidated using the equity method, the portfolio rises to €57.846 billion, 7.4% higher than at year-end.

Regarding the SR-400 Express Lane highway in Atlanta, United States, pre-awarded in August 2024, it is awaiting financial close, which is estimated to occur in the third quarter, with commercial close having occurred in November 2024. Acciona continued accelerating its growth in concessions, with a cumulative investment in equity terms amounting to 711 million as of June 30, 2025.

Nordex, Acciona's wind turbine company, maintained a solid performance. The company's reported EBITDA amounted to €188 million, compared to € 118 million in the same period last year. Nordex's contribution to Acciona's EBITDA reached €273 million, compared to €220 million in the same period last year, a 24% increase.

In terms of operating figures, in the first half of 2025, Nordex received turbine orders worth €4,134 million, 38.3% higher than the €2,990 million in the same period of the previous year, and the backlog (including projects and services) increased by 12.1%, reaching €14,326 million as of June 30, 2025, compared to the end of December 2024.

Among other activities, the real estate division stood out, achieving positive EBITDA of 5 million euros in the first half of the year, compared to losses of 8 million euros in the same period last year. This was driven by the delivery of a 359-room student residence in Terrassa (Barcelona), sales of non-strategic land, and operational efficiencies.

Bestinver also performed well during the period, with an 8.8% increase in average assets under management, reaching 6.848 billion as of June 30, 2025, resulting in EBITDA in the first half of the year of 26 million, up 10.2%.

Acciona's net financial debt reached 7.714 billion as of June 30, 2025, an increase of 586 million compared to December 2024 due to the investment made.