Elecnor Group, a Spanish construction engineering company, has reported a net profit increase for the first nine months, driven by higher revenue and a gain from the sale of Mexican assets.
Net Profit Growth
During the first nine months, Elecnor Group achieved a net profit of 73.7 million euros ($77.9 million), representing a 4% year-on-year increase. This growth includes a gain of 21.6 million euros resulting from the sale of 50% of the Mexican companies Gasoducto de Morelos and Morelos O&M.
Strong Sales Performance
Elecnor’s sales have experienced a significant rise of 14% to reach 2.70 billion euros. This growth can be attributed to an increased volume of essential services carried out in the U.S. and Europe. Additionally, the company’s execution of sustainable projects in Australia, Brazil, and Chile has contributed to this positive sales performance. Elecnor states that both domestic and international key markets have witnessed significant growth.
Financial Performance
Earnings before interest, taxes, depreciation, and amortization (EBITDA) have reached 153.0 million euros, surpassing the previous year’s figure of 104.3 million euros.
Future Outlook
Elecnor Group remains optimistic about its future prospects and expects to exceed its 2023 sales goals, surpassing last year’s level of 3.61 billion euros.