Elecnor (ENO) Q3 2024 earnings summary

Executive summary

• Net profit surged to €859.9 million for Jan–Sep 2024, mainly due to the sale of Enerfín, compared to €73.7 million in the same period last year.

• Turnover remained stable at €2,667.4 million, a slight decrease of 0.5% year-over-year.

• EBITDA dropped 38.3% year-over-year to €94.4 million, reflecting the impact of discontinued operations.

• The sale of Enerfín generated a capital gain of €805.3 million, highlighting Elecnor's value creation.

Financial highlights

• Net income: €859.9 million (up from €73.7 million year-over-year, driven by Enerfín sale).

• Turnover: €2,667.4 million, down 0.5% year-over-year.

• EBITDA: €94.4 million, down 38.3% year-over-year.

• Profit before tax: €69.2 million, down 11.8% year-over-year.

• Backlog of services and projects: €2,682.0 million, up 4.0% year-over-year.

Outlook and guidance

• Strong contract portfolio and favorable market trends in sustainability, energy transition, and digitalization expected to support future growth and profitability.

• Leadership position and profitability anticipated to strengthen over coming years.