Half Year 2025 Acciona SA Earnings Call Transcript
Key Points
- Acciona SA (ACXIF) reported a 57% increase in EBITDA to EUR1.6 billion, indicating strong operational performance.
- The company successfully executed its asset rotation strategy, securing EUR2 billion worth of disposals since last year.
- Acciona EnergĂa's revenue increased by 10% to EUR1.469 billion, with generation revenues growing by 2%.
- The infrastructure division showed robust growth, with a backlog reaching EUR57.9 billion, reflecting a 7% increase.
- Nordex, a key strategic asset, recorded a 33.8% year-on-year increase in order intake, demonstrating strong market confidence.
- Acciona EnergĂa faced delays in some projects, such as the MacIntyre wind farm, affecting production targets.
- The company had to pause two battery storage projects in the US due to trade wars and policy uncertainties.
- Acciona SA (ACXIF) experienced a 29% increase in greenhouse gas emissions due to high-emission construction projects.
- The renewable energy sector faced challenges with tariffs and tax credit uncertainties, impacting investment decisions.
- Acciona's net debt increased by approximately EUR600 million, reflecting the level of net investment during the period.
Good morning, ladies and gentlemen, and welcome to the presentation of Acciona's and Acciona EnergĂÂa's first-half results of 2025. I will begin with a brief overview of our performance in our renewable energy subsidiary, Acciona EnergĂÂa, and then move on to the rest of the businesses and the consolidated results.
As a brief introduction, let me say that despite recent significant opposition, global climate action has finally gained irreversible momentum. Although progress is probably not as fast as it should be, the transformation is underway. And for the first time, we're seeing hard evidence that the global emissions curve starting to bend.
If current trends hold, 2025 may be remembered as the first year of decline in global greenhouse emissions, mostly driven by major economies like Europe and China implementing structural emission reductions through the growth of clean energy mainly.
Renewable energy is not only the cleanest, but the cheapest, about 30% to 60% cheaper,
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