Saeta Yield increases its revenue by 42% up to 70.2 million euros, and its EBITDA by 40% up to 43.1 million euros
In the first quarter of 2017 Saeta Yield increased its cash flow from operating assets by 10.4% up to 41.8 million euros, which reinforces its dividend policy. The positive increase in revenues and EBITDA – with growth of 42% and 40% respectively – explains this increase in cash flow. The company will continue with the operational asset purchase strategy, which generates value for its shareholders and increases dividends, after announcing its first international acquisition in Uruguay during the first quarter.
During the first quarter, Saeta Yield’s operating income grew by 42% up to 70.2 million euros and EBITDA grew by 40% up to 43.1 million euros.
These increases were due to consolidation of the Extresol 2 and 3 solar thermal plants for a whole quarter, whereas in 2016 they only contributed from the time of purchase on 22 March, as well as the increase in the price of electricity in the wholesale market in comparison with 2016.
The Saeta Yield Board of Directors, chaired by José Luis Martínez Dalmau, approved the dividend payment corresponding to the first quarter of 2017 for the sum of 0.1882 euros per share, which will be paid on 31 May 2017.