Abertis’ turnover increased by 25% in 2013 to reach €4.65 billion

Barcelona (ACN).- The profits of Barcelona-based Abertis, a world leader in the toll road management sector which also has a telecommunications branch, dropped by 39.8% in 2013 compared to 2012 figures. However, the company emphasised that both years are “not comparable” since profits were particularly high in 2012, due to the 25% of capital gains derived from the sales of Eutelsat, while capital gains in 2013 amounted to 3%. If those operations were not taken into account, the recurring profit would have indicated a 6.5% growth. However, the Catalan multinational’s net profit amounted to €617 million in 2013, as opposed to the €1.02 billion reached in the previous year, as reported to the Spanish Stock Exchange Regulation Authority (CNMV) on Wednesday. Abertis’ EBITDA was set at €2.92 billion, representing an increase of 23.6% while the turnover increased by 25% to reach €4.65 billion.

The 2013 results include for the first time the management of highways in Brazil and Chile, which contributed to €500 million of the consolidated EBITDA.

Almost two-thirds of the multinational’s revenues were generated outside of Spain, mainly in Brazil and Chile as well as in France. Out of the total, 90% were derived from the toll road management sector while the remaining 10% correspond to the telecommunications sector, after the company sold its airport division.

Operating expenses rose due to the incorporation of highways in Brazil and Chile

Operating expenses rose to €1.73 billion, mostly due to the incorporation of the new highways in Brazil and Chile while gross operating income grew by 25 % to reach €2.92 billion. The two Latin-American countries accounted for a quarter of the total operating business of the company.

Reduction of the company’s net debt

Abertis’ net debt was reduced by 7% and about 1 billion in 2013, amounting to €13.16 billion. Moreover, at the end of the year, the Catalan multinational had liquidity of €6.5 billion, €3.1 billion of which are available and the remaining €3.4 billion comprised in credit lines.

€1.18 billion of investments

Investments totalled €1.18 billion, €1.04 billion of which were allocated to the company’s expansion and €137 million to current operation investments. The major projects included the acquisition of an additional 16% of the Spanish satellite company Hispasat (€173 million), the purchase of mobile phones (€118 million), significant investments in Brazil for the construction of new roads (€367 million) and the acquisition of an additional 4.7% of Arteris (€127 million).

The Board of Directors will propose during a general meeting scheduled for the 1^st of April that that shareholders receive a dividend of €0.33 per share.