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Atlantica Yield nearly triples profit in 9-mo 2018


Atlantica Yield nearly triples profit in 9-mo 2018

November 6 (Solar) – Atlantica Yield Plc (NASDAQ:AY) on Monday posted a nearly tripled year-to-date net profit, saying that its renewable assets produced solid operating results during the first nine months of the year.

The London-based clean energy yieldco reported a net profit attributable to the company of USD 120.5 million (EUR 105.4m) for January-September 2018 compared to USD 42.6 million in the same period of 2017. Further adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), including unconsolidated affiliates, rose by 13.6% to USD 714.4 million. This includes a USD-565.9-million contribution from the renewables division.

Atlantica Yield’s top line went up 8% to USD 836.9 million, as revenues from renewables increased to USD 652.1 million from USD 594.5 million.

At USD 132.5 million, cash available for distribution (CAFD) did not change much from the USD 132.1 million registered in the third quarter of 2017.

At the end of September, Atlantica had 1,446 MW of renewable energy assets in operation that generated 2,555 GWh of electricity during the reporting period, down from 2,577 GWh a year earlier when the company had 1,442 MW installed.

The following table gives more details about the company’s performance in the third quarter and nine months of 2018.

Figures in USD Q3 2018 Q3 2017 Jan-Sep 2018 Jan-Sep 2017
Revenues 323.8m 292m 836.9m 775.2m
— from Renewables 652.1m 594.5m
Attributable profit (loss) 53.2m 30m 120.5m 42.6m
Further Adjusted EBITDA incl. unconsolidated affiliates 271.2m 236.3m 714.4m 629.1m
— from Renewables 565.9m 462.6m
CAFD 42.7m 36.7m 132.5m 132.1m

(USD 1.0 = EUR 0.875)

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