Saeta Yield increases revenues by 22% up to 157 million euros, and EBITDA by 24% up to 110 million euros
Saeta Yield reinforced its consistent and growing dividend policy in the first half of the year after recording a 37% increase in the Cash flow of its operational assets, according to results approved by the Board of Directors chaired by José Luis Martínez Dalmau. This increase in Cash flow, the key variable for defining the Company’s dividend payment, was due to a significant increase in income and EBITDA, 22% and 24% respectively. The Company intensified its profitable growth strategy and the diversification of geographic risk through the purchase of two wind farms in Uruguay, finalised last May, and the announcement of the acquisition agreement of Lestenergia in Portugal.
Saeta Yield is a company which operates renewable energy assets and its objective is to provide sustainable, consistent and growing value to its shareholders over time. To do so, Saeta Yield invests in long term, stable and predictable, cash flow generating assets, in order to provide a total return to shareholders. Currently, 52% of its capital is free float, distributed among institutional and retail shareholders. The remaining 48% of the capital is distributed between two main shareholders: ACS and GIP.
During the first half of the year, Saeta Yield’s operating income grew by 22% up to 157.3 million euros. On the other hand, the Company’s EBITDA grew by 24% up to 109.9 million euros, and the net profit grew by 68%, up to 13.7 million euros.
These increases were due to the acquisition of the Extresol 2 and 3 solar thermal plants, which were consolidated in March 2016, and by the increased cost of electricity on the Spanish wholesale market in 2017.