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Atlantica Yield's renewables drive EBITDA growth in H1

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Atlantica Yield's renewables drive EBITDA growth in H1


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
Revenues 287.8m 285.1m 513.1m 483.2m
— 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)


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