By Helena Smolak
Elecnor Group reported increased net profit for the first nine months, driven by higher revenue and a gain from the sale of Mexican assets.
The Spanish construction engineering company said Monday that it made a net profit of 73.7 million ($77.9 million) in the first nine months, a 4% year-on-year increase. This included a EUR21.6 million gain it booked following the sale of 50% of the Mexican companies Gasoducto de Morelos and Morelos O&M.
Elecnor’s sales rose 14% to EUR2.70 billion driven by increased volume of essential services conducted in the U.S. and Europe and by the execution of sustainable projects in Australia, Brazil and Chile. Both its domestic and international key markets saw significant growth, it said.
Earnings before interest, taxes, depreciation and amortization totalled EUR153.0 million compared with EUR104.3 million in the same period of the previous year.
Elecnor continues to expect to exceed 2023 sales compared with last year’s level of EUR3.61 billion.
Write to Helena Smolak at helena.smolak@wsj.com
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