May 10, 2019 / 08:30AM GMT
Raimundo Fernández-Cuesta - Acciona, S.A. - Director of Mergers & Acquisitions
Good morning, ladies and gentlemen, and welcome to our first quarter results presentation for the year 2019. A summary of the key trends during the quarter. I would like to highlight the following. Firstly, the comparability of our operating figures, still affected by changes in perimeter, primarily the CSP business, which still contributed in Q1 last year, and ATLL, which makes a final contribution of only 2 months during the first quarter of this year.
Secondly, with respect to the Energy division, the start of the year have seen low levels of wind and hydro generation output in Spain relative to last year and relative to what we estimate to be a normal year.
The third factor to take into account to understand the operating figures for this quarter is the fact that some of our large international construction projects are more mature and, therefore, going beyond the point of peak production. These are higher EBITDA margin projects, but they also have higher capital
Q1 2019 Acciona SA Earnings Call Transcript
Feb 12, 2024
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