Abertis trebles profit to March after revaluing assets – Investing.com Spain

MADRID (Reuters) – The concessionary group Abertis (MC tripled its net profit to March to 385 million euros to raise its stakes in Autopista Central (Chile) and Barcelona Túnels company and Cadi.

comparable terms, regardless of the accounting adjustment of their holdings, net profit grew by 9 percent to about 137 million euros, in line with expectations of analysts polled by Reuters of 135 million.

In a statement to securities supervisor, the group participated by CaixaBank (MC and OHL (MC said EBITDA in the first three months of the year grew by 6 percent to 714 million euros, compared with 703 million average analysts expected.

revenue rose 4.0 percent to 1,082 million euros, also in line with expectations.

Abertis said traffic growth in most of its motorway network, powered by Chile (+ 6.1%), Spain (+ 6.8% on a comparable basis and + 11.4% Túnels of Barcelona and Cadi) and France (+ 3.7%) while in Brazil fell 2.3 percent.

the company added that its next investment, buying Italian motorways A4 and A31 is in advanced negotiations.

Abertis increased its net debt in the first three months of the year in close 1,100 million euros to 13,668 million euros, implying a ratio net debt / EBITDA of 4.5 times. Of the total debt, 67 percent is guaranteed by the projects themselves (without recourse to the company).

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