Acciona (ANA) Company presentation summary

Strategic positioning and business model

• Global leader in sustainable infrastructure, focusing on energy, water, transport, and environmental services.

• Over 100 years of history, listed on the Spanish Stock Exchange, with a €12bn market cap and €19bn EV.

• 78% of revenues generated internationally, with operations in more than 60 countries and 68,500 employees.

• Integrated business model across renewable energy (ACCIONA Energía), infrastructure, wind turbine manufacturing (Nordex), and other activities.

• Strong focus on decarbonization, ESG, and alignment with EU Taxonomy objectives.

Financial performance and outlook

• 2025 revenues reached €20,236m (+5% YoY), EBITDA €3,211m (+31%), and net profit €803m (+90%).

• Net debt/EBITDA improved to 2.18x from 2.9x in 2024, reflecting robust balance sheet management.

• Ordinary capex reduced to €2,252m, with €1.1bn proceeds from energy asset rotation.

• 2026 outlook targets EBITDA of €2.8–3.1bn, investment cashflow of €2.2–2.5bn, and net debt/EBITDA below 3x.

• Dividend per share to increase by 7.6% to €5.65 in 2026.

Business segment highlights

• Energy: 48% of EBITDA, 14.6 GW installed capacity, 72% contracted output, and €1.5bn EBITDA in 2025.

• Infrastructure: 25% of EBITDA, €8.7bn revenues, €801m EBITDA, and €121bn aggregate backlog (+124%).

• Nordex: 23% of EBITDA, €7.6bn revenues, 10.2 GW order intake, and 8.4% EBITDA margin.

• Other activities: Financial services (Bestinver) with €7.7bn AUM, property development, and electric mobility.