August 6 (Solar) – The renewables segment of London-based yieldco Atlantica Yield Plc (NASDAQ:AY) made a solid contribution in the first half (H1) of 2018 to help the company raise its further adjusted EBITDA by 12.8% on the year.
Atlantica Yield reported a first-half further adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), including unconsolidated affiliates, of USD 443.3 million (EUR 384m) compared with USD 392.9 million a year back. About USD 345.4 million of that was generated by the Renewables business sector compared with USD 279.3 million in January-June 2017.
The renewables arm experienced a 7.9% year-on-year rise in revenues to USD 392.2 million, with 1,446 GWh produced, down from 1,560 GWh a year earlier. The company noted that solar power production in the US remained stable period-over-period, while production in Spain was down mainly because of lower solar radiation. At the same time, wind power production was slightly higher than in the same period a year ago.
The table below gives more detail about the company’s performance during the second quarter and first half of 2018.
|Figures in USD||Q2 2018||Q2 2017||H1 2018||H1 2017|
|— from Renewables||—||—||392.2m||363.6m|
|Attributable profit (loss)||72.1m||24.4m||67.4m||12.6m|
|Further Adjusted EBITDA incl. unconsolidated affiliates||263.5m||227.8m||443.3m||392.9m|
|— from Renewables||—||—||345.4m||279.3m|
|CAFD (Cash available for distribution)||46.7m||34.6m||89.7m||95.5m|
(USD 1.0 = EUR 0.866)