MADRID, November 25, 2014 /PRNewswire/ --
- Excluding the impact of the equity consolidation method of our concessions business, EBITDA would have increased up to €452 M (16% higher)
- The Group consolidates revenues of €1,541 M as of September 2014
- International revenues for the EPC segment accounted for 81% compared to 73% in 2013
- The EPC backlog rose up to €6,626 M
In the first nine months of 2014, Grupo Isolux Corsán's EBITDA stood at €186M, representing an increase of 6% with respect to the same period last year. The Group consolidated EPC revenues of €1,541 M in the third quarter of 2014, of which 81% came from abroad compared to 73% in 2013.
Since January 2014, as a result of the implementation of the IFRS standard 11, the Group accounts for its concessions business by the equity method, as opposed to proportional. Excluding the application of this rule, revenue would amount to €2,009 M and EBITDA to €452 M, which represents an increase of 16% over the same period last year.
The EPC business portfolio amounts to €6,626 M. New projects during the period exceeded 2,223 million euros. Among the contracts entered into in this period, a hydroelectric plant in Bolivia (€315 M), a combined cycle plant of 400 MW in Bangladesh (€213 M), a highway in Slovakia (€98 M) and 212 km of lines transmission in Chile (€39 M) stand out.
The increase in revenues and EBITDA of this business is mainly determined by the startup of new assets as a transmission line in the US and two transmission lines in Brazil
About Isolux Corsan
Isolux Corsán Group is a global benchmark in energy, concessions, construction and maintenance of major infrastructure and operates in 40 countries on four continents. In the energy sector, Isolux Corsán is one of the leading operators in the world in energy T&D installation and maintenance, one of the largest builders of EPC projects in the solar photovoltaic industry, and occupies an important position among large builders of power plants under EPC contracts.
In addition, the Group holds concessions for 23,500 parking spaces in Spain and manages, through its subsidiary Isolux Infrastructure, concessions for 5,959 km of transmission lines in Brazil, India and the U.S; 1,643 km of highways in India, Brazil, USA, Mexico and Spain and promotes and manages 326 MW of solar PV power plants in Spain, the U.S., India, Italy, Japon, Mexico, Peru and Puerto Rico.
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SOURCE Isolux Corsán