Elecnor (ENO) H2 2024 earnings summary

Executive summary

• Net profit reached €705.2 million in 2024, up from €110.1 million in 2023, driven by strong business performance and the sale of Enerfín.

• Sales totaled €3,810.1 million, a slight year-over-year increase.

• Cash flows from operating activities before tax more than doubled to €328 million from €141 million in 2023.

• Net Financial Position with recourse improved to €187.5 million from -€222.6 million at year-end 2023.

• Total dividend distribution for 2024 is €805 million, including a €540 million interim and €265 million final dividend.

Financial highlights

• Net turnover from continuing operations was €3,810.1 million, a 0.5% increase year-over-year.

• EBITDA for Elecnor Servicios y Proyectos rose to €202.6 million from €199.4 million year-over-year.

• Net profit attributable to the parent was €705.2 million, a 540.8% increase year-over-year, mainly due to the Enerfín sale.

• Aggregated EBITDA from concessionary transmission projects in Brazil, Chile, and Peru reached €338 million.

• Cash and cash equivalents at year-end stood at €429 million.

Outlook and guidance

• 2025 outlook is positive, with growth expected from trends in sustainability, energy transition, and digitalisation.

• Strong contract portfolio and favorable market conditions are expected to support continued growth and profitability.