Acciona ends the first half of 2008 with E1.35 billion in EBITDA

Acciona has posted 1.349 billion euro in EBITDA in the first half of this year. The EBITDA is 180 percent more than what the company had managed in the same period of 2007.

Acciona said the sharp rise in EBITDA was mainly due to the contribution from its Endesa stake as well as from its energy division.

The increase was due primarily to proportionate consolidation of its 25.01 percent stake in Endesa, which contributed 868 million euro (64.3 percent of the total), and the strong performance of Acciona Energy, which contributed 302 million euro (22.3 percent of the total).

Net profit posted by Acciona was 314 million euros, down 15 percent year-on-year. Revenues rose 83.9 percent to 6.03 billion.

In the area of energy, José Manuel Entrecanales recently highlighted that Acciona Energy's strong position in the US, now its second-largest market; the move into India, Portugal, Mexico and South Korea, with the result that the company now has installed capacity in 14 countries; the start-up of Acciona's first plant using a new renewable technology, the Nevada Solar One solar thermal plant in the US.

The Nevada Solar One is the largest concentrating solar thermal power plant to be built in more than 17 years and the third largest plant of its kind operating in the world.