Acciona Sa (ACXIF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to Acciona's financial results presentation for fiscal year 2024. 2024 has been a transformational year for our group. We achieved a record EBITDA of 2.5 billion, with more than half generated by our infrastructure segment and Nordics. Our infrastructure backlog now stands at an all-time high of 54 billion, driven by several landmark concession awards that will redefine our company in the years to come. Acciona Energía set new records by adding two gigawatts of capacity in the year, building on the 1.7 gigawatts achieved in 2023 and marking the peak of our recent growth cycle. Our energy asset rotation activity has also delivered strong results with 1.3 billion completed to date at very attractive valuations. As we look ahead, we have several promising opportunities and we will remain flexible evaluating options based on pricing, strategic fit and partner quality. Despite facing a challenging market in Spain during the first half of the year, Acciona Energía delivered comfortably on our revised guidance while protecting our balance sheet, maintaining our credit rating, and avoiding capex overruns or write-offs. This resilience has transformed initial challenges into a successful outcome for the year as we see it. As for Nordics, it has shown a remarkable recovery over the recent years, and in 2024 we witnessed the consolidation of this turnaround marked by a rebound on profit margins, record order intake, a robust cash position, and over 20% growth in its order book. Given the recent debate on renewables, renewables versus fossils, let's say, let me very briefly share my perspective on the renewable energy market. Regardless of climate skepticism or ideological opposition, we are living in an era of rising global electr...