Slides
Page 1
1 Consolidated financial results January – June 2026
Page 2
2 The information contained in this results report has been prepared by Elecnor Group and includes financial information relating to Elecnor, S.A. and its subsidiaries for the period ended June 30, 2026, as well as statements regarding future expectations. The information and statements regarding future expectations of Elecnor Group do not constitute historical facts and are based on numerous assumptions and are subject to risks and uncertainties, many of which are difficult to predict and are generally beyond the control of Elecnor Group. Accordingly, shareholders and investors are cautioned that such risks may cause actual results and developments to differ materially from those expressed, implied or projected in the forward-looking information and statements. The aforementioned financial information, as well as any opinions and statements contained in this document, have not been verified by independent third parties and, therefore, no representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information or the opinions and statements expressed herein. This document does not constitute an offer or invitation to acquire or subscribe for shares in accordance with Law 6/2023, of March 17, on Securities Markets and Investment Services, and its implementing regulations. Nor does this document constitute an offer to buy, sell or exchange, or a solicitation of an offer to buy, sell or exchange, securities, or a solicitation of any vote or approval in any other jurisdiction. Disclaimer / Legal Notice
Page 3
3 Elecnor Group at a glance Business segments • Services • Projects • Concessions and Own projects • Group management and other adjustments Forecast 2026 • Main trends • Executable backlog in the next 12 months 01 02 03 A sustainable value 04 Basis of presentation and changes in the companies that make up the Group 05 06 Elecnor Group in the stock market Appendices • Summary of financial figures • Celeo projects 2025 • Celeo projects 2024 07 Index 08 Consolidated financial figures • Consolidated profit/loss for the year • Balance sheet • Cash Flow statement and Net Financial Position
Page 4
4 Results January – June 2026 Elecnor Group at a glance
Page 5
5 Net profit +35.7% 68.1M€ vs 6M 2025 Key figures January – June 2026 Operating cash Flow before taxes +297.8% 161.1M€ vs 6M 2025 EBITDA +28.4% 143.6M€ vs 6M 2025 Turnover -0.2% 1,997M€ vs 6M 2025 Executable backlog +5.6% +3,000M€ vs 12M 2025 People +5.3% +29,000 vs 6M 2025
Page 6
6 Net profit EBITDA Turnover 68.1M€ 143.6M€ 1,997M€ 35.6M€Services 36.7M€Projects Concessions and Own projects Adjustments and others 75.8M€Services 78.6M€Projects Concessions and Own projects* Adjustments and others 1,218.7M€Services 776.6M€Projects Adjustments and others +36.5% +14.0% -9.8% (10.9M€) (18.0M€) 1.7M€ Key figures by segments * For this half-year, the 100% Celeo Group EBITDA is Euros 113.2 million. Notwithstanding, given that it is consolidated in the Group’s accounts using the Equity Method, the EBITDA contributed to the Group coincides with the consolidated net profit attributable to the Group (Euros 6.4 million in the first half-year of 2026) after applying the percentage of ownership and corresponding consolidation adjustments. +35.7% +28.4% -0.2% 6.7M€ 7.2M€ +64.0% +44.4% +17.3%
Page 7
7 Business segments Results January – June 2026
Page 8
8 The framework of the current organisational structure of the Group has split major company activities into three segments for which the three General Directorates are responsible. These segments are managed and their targets defined separately. These segments are as follows: Services, Projects and Concessions and Own projects, in which a distinction is made between Celeo and Group development and investment activity. The key figures by business segment as at 30 June 2026 and 30 June 2025 are detailed in Appendix of this report. Services Projects Concessions and Own projects Celeo Development and investment
Page 9
9 6M 2026 6M 2025 Var (%) Turnover 1,218.7M€ 1,085.7M€ 12.3% Domestic 911.5M€ 755.1M€ 20.7% International 307.2M€ 330.6M€ (7.1%) EBITDA 75.8M€ 64.6M€ 17.3% % EBITDA / Turnover 6.2% 6.0% Profit before tax 48.3M€ 37.1M€ 30.0% Attributable consolidated net profit 35.6M€ 26.1M€ 36.5% The Group integrates energy distribution, telecommunications, maintenance and installation services in this segment: services which are essential to generating change and driving societal well-being. Sales by geographic area The Group's Services segment showed solid and steady growth in the first half of the year, posting turnover of Euros 1,218.7 million. This implies an increase of 12.3% compared to the same period last year. • In the domestic market, activity continued to grow on the back of the services developed for the electricity, telecommunications, water,and energy transmission and distribution sectors, where it services all utilities. Of particular note is the maintenance activity carried out for both the public and private sectors, as well as energy efficiency initiatives. • In the international market, this segment carries out its distribution and telecommunications activities primarily in Italy and the United States. The profitability of the segment also reflects this positive performance: • EBITDA in this segment amounted to Euros 75.8 million in the first half of the year, representing a 17.3% increase on the previous year, demonstrating the excellent performance of this business area. The EBITDA margin on sales for this period is 6.2 % in this business segment (6% in the same period of the previous year). • The attributable consolidated net profit has reached Euros 35.6 million by 30 June this year, representing an increase of 36.5% compared to the first half of the previous year. 25.2%International 74.8%Domestic -7.1% +20.7% Services Contribution to EBITDA from the business Contribution to net income from the business Contribution to the business revenue
Page 10
10 6M 2026 6M 2025 Var (%) Turnover 776.6M€ 914.8M€ (15.1%) Domestic 70.6M€ 72.7M€ (2.9%) International 706.1M€ 842.1M€ (16.2%) EBITDA 78.6M€ 54.4M€ 44.4% % EBITDA / Turnover 10.1% 6.0% Profit before tax 55.2M€ 32.9M€ 67.8% Attributable consolidated net profit 36.7M€ 22.4M€ 64.0% This segment comprises the development, construction, operation and maintenance of clean energy generation and transmission infrastructure worldwide, improving the living conditions of communities and enhancing sustainable development. The Projects segment recorded a solid performance during the first half of the year, consolidating a significant improvement in its profitability as a result of discipline in project selection and execution, prudent risk management and the favourable performance of its international portfolio. Performance over the half-year reflects the Group's ability to progressively convert the activity it carries out into greater value creation, maintaining a conservative approach to revenue recognition and rigorous management of the risks inherent in this type of project. Additionally, several projects being developed by the Group in Latin America, have reached advanced execution phases, naturally reducing certain construction risks and allowing margins to improve. All this has translated into an increase of 67.8% in Profit before tax and 64.0% in attributable consolidated net profit with respect to the same period of the previous year. The segment's Turnover stood at Euros 776.6 million, 15.1% lower than that recorded in the first half of 2025, mainly due to the stage of completion achieved by certain large-volume international projects. This is consistent with the portfolio's execution schedule and has not prevented a significant improvement in the business's profitability. The following stand out by market: • In the domestic market, the turnover and profit/loss in this segment is mainly attributable to the construction projects for electricity infrastructure and renewable energy parks. • The international market remains a key pillar in this segment, accounting for 91% of its sales. Projects in Australia, New Zealand, Brazil and Chile (especially power transmission lines and renewable energies) stand out. In addition, the construction of substations and transmission lines in Angola, Senegal, Ireland, Germany and the United Kingdom, as well as PV plants in the Dominican Republic, among many others, has contributed significantly. The improvement in the segment's profitability is reflected in: • EBITDA amounted to Euros 78.6 million, which represents a 44.4% increase on the same period of the previous year. The EBITDA margin on sales for this period is 10.1% in this business segment (6.0% in the same period of the previous year). The increase in margins on sales constitutes one of the main challenges of the Group's strategic plan. • The attributable consolidated net profit stood at Euros 36.7 million, representing a 64.0% increase on the same period of the previous year, thanks to projects that have been reaching phases close to completion. 90.9%International 9.1%Domestic -2.9% -16.2% Sales by geographic area Projects Contribution to net income from the business Contribution to EBITDA from the business Contribution to the business revenue
Page 11
11 Concessions and Own projects - CELEO Celeo, a company owned and managed jointly with APG, one of the world's largest pension funds, already has 7,949 km of electricity transmission lines in Chile, Brazil and Peru in operation and construction, as well as 345 MW of renewable energy (photovoltaic and solar thermal energy) in Spain and Brazil. Overall, it managed around Euros 6,000 million assets in operation at the close of 2025. EBITDA, the indicator that best reflects the performance of the Celeo subgroup's operations, reached Euros 113.2 million, which represents an increase of 7.8% compared to the Euros 105 million achieved in the same period of the previous year. Celeo is accounted for using the equity method. Accordingly, it does not contribute to the Group’s consolidated revenue. In the first six months of the year, it contributed an attributable consolidated net profit of Euros 6.4 million (Euros 9.2 million in the same period of the previous year), after applying the relevant ownership percentages and consolidation adjustments. In any case, it is expected that the performance in the second half of the year will bring the annual contribution of this segment to the Elecnor Group in line with that achieved in the previous year. Contribution to EBITDA from the business Contribution to net income from the business Electricity transmission lines in Chile, Brazil, and Peru, in operation and under construction 7,949 km Renewable energy (photovoltaic and solar thermal) in Spain and Brazil 345 MW Celeo (100%) 6M 2026 6M 2025 Var (%) Turnover 161.2M€ 147.2M€ 9.5% EBITDA 113.2M€ 105.0M€ 7.8% Profit before tax 29.8M€ 33.5M€ (11.2%) Income tax (12.6M€) (11.3M€) (11.4%) Profit/loss for the businesses attibutable to non-controlling interest (5.6M€) (4.9M€) (12.4%) Attributable consolidated net profit 11.6M€ 17.3M€ (32.8%) Consolidated net profit attributable to the Elecnor Group 6.4M€ 9.2M€ (30.2%)
Page 12
12 6M 2026 6M 2025 EBITDA 0.8M€ (1.9M€) Profit before tax 0.1M€ (1.6M€) Attributable consolidated net profit 0.3M€ (1.6M€) The Elecnor Group maintains its strategy of generating long-term value through developing and investing in new businesses, selecting high added value geographical locations and technologies and seeking unique, high return opportunities both on domestic and international markets. In this context, in addition to the investments channelled through the Celeo subgroup dealt with in the previous section, it is worth noting the start of construction of a wind generation project in Aragon (Spain) and three photovoltaic projects in the United States. These projects involve an investment commitment of close to Euros 100 million. The Elecnor Group bears in its financial statements the costs arising from the search for and development of investment opportunities. In this first half of the year, the internal expenses derived from the effort the Group is making to boost this segment have been favourably offset by the capital gains obtained from the sale of the development subsidiaries Moana Data S.L. and Eternelle Energie, S.A.R.L. 12 Concessions and Own projects – Development and investment
Page 13
13 6M 2026 6M 2025 Var (%) EBITDA (13.2M€) (15.5M€) 14.7% Profit before tax (10.6M€) (21.7M€) 51.3% Attributable consolidated net profit (7.8M€) (6.7M€) (16.6%) In addition to the previous business segments, the Group includes mainly structural overheads in the segment "Group management and other adjustments“. Included here are the overheads for the year of the Group's management bodies and corporate services, as well as expenses of advisers, etc. in addition to those items which, according to the Group's management, do not fall within the scope of the decisions of the heads of the businesses. Likewise, the telecommunications area operated by the subsidiary Adventum and its subsidiaries, following its acquisition in July 2025, is also included in this segment (as its management model and operating targets are of a different nature to the rest of the Group's service activities). Cost containment, together with the positive results of the new activity described in the previous paragraph, has resulted in growth in the segment's EBITDA compared with the same period of the previous year. Unlike the first half of 2025, in this first half of 2026 no non-recurring amounts are recognised in Profit before tax or in the attributable consolidated net profit of this segment, derived from identified risks of a tax nature or relating to corporate transactions. 13 Group management and other adjustments
Page 14
14 Consolidated figures Results January – June 2026
Page 15
15 6M 2026 6M 2025 Continuing operations Net turnover 1,997.0M€ 2,001.5M€ Changes in inventories of finished goods and works in progress 0.7M€ 0.5M€ Self-constructed assets 0.5M€ 0.4M€ Materials consumed (902.9M€) (1,004.7M€) Other operating income 47.2M€ 43.2M€ Personnel expenses (713.2M€) (662.0M€) Other operating expenses (296.4M€) (276.2M€) Impairment and profit/loss on disposals of fixed assets 4.0M€ 0.0 Profit/loss from equity-accounted investees 6.6M€ 9.1M€ EBITDA 143.6M€ 111.8M€ Expense for amortisation, depreciation, impairment and charges to provisions (51.5M€) (53.3M€) Operating Income 92.1M€ 58.5M€ Finance income 14.4M€ 13.3M€ Finance expenses (8.5M€) (5.9M€) Changes in the fair value of financial instruments (17.0M€) 11.9M€ Translation differences 13.7M€ (21.0M€) Profit/loss before taxes 94.6M€ 56.9M€ Income tax (26.5M€) (6.8M€) Total net profit attributable to the Parent Company 68.1M€ 50.2M€ Consolidated profit/loss
Page 16
16 Balance sheet Equity and Liabilities 6M 2026 12M 2025 Equity attributable to equity holders of the Parent Capital 8.7M€ 8.7M€ Own shares (44.9M€) (36.6M€) Reserves 1,126.6M€ 1,051.9M€ Translation differences (119.0M€) (170.4M€) Valuation adjustments to equity (14.3M€) (13.1M€) Profit/loss for the year attributable to the Parent 68.1M€ 110.7M€ Interim dividend paid in the year - (8.0M€) 1,025.1M€ 943.1M€ Non-controlling interests - 0.1M€ Total Equity 1,025.1M€ 943.2M€ Government grants - - Provisions for liabilities and charges 115.0M€ 109.7M€ Financial liabilities on loans and borrowings 134.4M€ 169.9M€ Lease liabilities 48.5M€ 30.8M€ Other non-current liabilities 5.1M€ 4.7M€ Deferred tax liabilities 23.6M€ 25.8M€ Total non-current liabilities 326.6M€ 340.9M€ Provisions for liabilities and charges 135.9M€ 137.5M€ Financial liabilities from issuing bonds and other marketable securities 151.6M€ 81.8M€ Financial liabilities on loans and borrowings 30.4M€ 19.3M€ Financial liabilities with related companies 11.7M€ 11.5M€ Derivative financial instruments 9.1M€ 3.3M€ Lease liabilities 21.9M€ 17.1M€ Trade payables to associates and related companies 0.3M€ 0.3M€ Trade and other payables Trade payables for purchases or services 765.3M€ 878.6M€ Advances from customers 159.9M€ 173.6M€ 925.2M€ 1,052.3M€ Customer contract liabilities 749.9M€ 672.6M€ Current income tax liabilities 79.8M€ 79.5M€ Other payables Public entities, payable 105.1M€ 82.5M€ Other current liabilities 262.0M€ 217.9M€ 367.2M€ 300.4M€ Total current liabilities 2,482.9M€ 2,375.7M€ Total liabilities and equity 3,834.6M€ 3,659.8M€ Assets 6M 2026 12M 2025 Property, plant and equipment 298.6M€ 286.9M€ Right-of-use assets 68.3M€ 45.9M€ Intangible assets Goodwill 31.4M€ 31.4M€ Other intangible assets 34.4M€ 28.1M€ 65.8M€ 59.5M€ Equity-accounted investees 582.2M€ 552.2M€ Non-current financial assets Other financial assets 124.1M€ 111.5M€ Derivative financial instruments 0.6M€ 0.3M€ 124.7M€ 111.8M€ Deferred tax assets 107.1M€ 107.3M€ Total non-current assets 1,246.8M€ 1,163.7M€ Inventories 11.0M€ 11.4M€ Customer contract assets 518.6M€ 492.6M€ Trade and other receivables 977.8M€ 1,033.9M€ Trade receivables from related companies 36.0M€ 20.6M€ Public entities, receivable 47.4M€ 47.3M€ Current income tax assets 54.7M€ 42.0M€ Other receivables 60.0M€ 42.7M€ Current investments in related companies 28.0M€ 27.3M€ Other current financial investments 267.3M€ 240.0M€ Derivative financial instruments 0.1M€ 10.2M€ Other current assets 16.8M€ 12.6M€ Cash and cash equivalents 569.9M€ 515.2M€ Non-current assets held for sale 0.2M€ 0.2M€ Total current assets 2,587.8M€ 2,496.1M€ Total assets 3,834.6M€ 3,659.8M€
Page 17
17 6M 2026 2025 Total Net Financial Position 184.4M€ 180.3M€ Without recourse (9.6M€) (18.8M€) With recourse 194.0M€ 199.0M€ Net cash flow from financial activities Net cash flow from investment activities Operating cash flow Cash Flow statement and Net Financial Position During the first half of 2026, the Elecnor Group was able to generate a cash flow of Euros 161.1 million from its operating activities before tax (Euros 40.5 million in the same period of the previous year). This attests to the excellent performance of the Group's businesses, as well as the ability to convert its profits into cash. Total cash flows from operating activities in the first half of 2025 also included the amount collected from the assignment of the credit claim with the Tax Authority as a result of the instalment payments made by the Group during the 2024 financial year (Euros 155 million). The net cash flows from investment activities in the first half of 2026, which are a negative Euros 57 million, are mainly driven by new investments in property, plant and equipment and group companies (Euros 37 million in the same period of the previous year, driven mainly by investments in property, plant and equipment). As for financing activities, the negative net cash flow of Euros 10.6 million mainly reflects the cash outflow for shareholder remuneration through the payment of dividends amounting to Euros 36.3 million (Euros 265.0 million in the same period of the previous year). 515 570 161 26 Initial cash Net cash flow from operating activities before taxation Income tax paid Dividends Other financial activities Final cash -39 -57 -36 6M 2026 6M 2025 *Figures in million euros 406 398 41 131 122 Initial cash Net cash flow from operating activities before taxation Income tax paid Dividends Other financial activities Final cash -37 -265 Net cash flow from financial activities Net cash flow from investment activities Operating cash flow
Page 18
18 Elecnor Group in the stock market Results January – June 2026
Page 19
19 6M 2026 2025 Closing share Price (€) 39.75 24.45 Total volume of securities (millions) 11.8 33 Total cash traded (million €) 396.1 744.1 Number of shares (millions) 87 87 Market capitalisation (million €) 3,458.3 2,127.1 Indexed to 100 01/2026 03/2026 06/2026 +62.6% +4.4% Elecnor IBEX Medium CAP Stock market performance during the firtst half of 2026
Page 20
20 Treasury StockShareholding structure Number of shares Others 41.7% Board of Directors 2.9%Treasury Stock 2.6% Cantiles XXI, S.L 52.8% 6M 2026 2025 2024 2,305,636 2,304,391 2,307,253 Shareholding structure and Treasury Stock
Page 21
21 Dividend payment commitment 2025-2027Dividends always distributed in cash The cash generation of the businesses, as well as the financial assets held by the Group, reinforce the commitment undertaken to distribute more than €220 million in dividends over the three-year period of the 2025–2027 Strategic Plan. Elecnor Group’s Annual General Meeting (AGM), held during the first half of the year, approved the distribution of a final dividend of €0.417 per share charged to 2025 results. A total of €36.18 million will be distributed as this final dividend which, together with the interim dividend already paid, will amount to €44.29 million in total dividends charged to 2025 results. +220 Million euros 2019 2020 2021 2022 2023 2024 2025 29 29 31 37 39 805 44 Distributed dividend In million euros
Page 22
22 Forecast for 2026 Results January – June 2026
Page 23
23 Forecast for 2026 Urbanisation and digitalisation Energy transition and electrification of the economy Urbanization and digitalization of the society Environmental and social sustainability The Group's performance remains in line with the objectives of the 2025-2027 Strategic Plan. The figures achieved in the first half of the year confirm the improvement in profitability, cash generation capacity and financial strength. The Group can therefore approach the second half of the year with confidence, keeping its focus on disciplined portfolio execution and on creating value for shareholders, in line with its commitment to exceed Euros 220 million in dividends over the three-year period of the plan. In this context of resilience to instability, the Elecnor Group's activities will be driven by its alignment with the three major trends underpinning global economic development: 23
Page 24
24 +5.6%*3,002.5M€ The production portfolio, which can be executed in the next 12 months, amounts to Euros 3,005.5 billion (Euros 2.844,6 billion at the close of 2025). Of this portfolio figure, 56% relates to Services, for the amount of Euros 1,672.8 million, and 44% to Projects, for the amount of Euros 1,329.7 million. Executable backlog in the next 12 months The Services portfolio consists of contracts for this activity in both the domestic and international markets (mainly in the United States and Italy). Both Spain and other countries (mainly Brazil and Australia) contribute to the Projects business, with major projects that have been contracted for the construction of power generation plants from renewable energy sources and for power transmission. Services 56% Projects 44% Distribution by business segments International 67.6% Domestic 32.4% Geographical distribution *Vs 12M 2025 +0.1% +12.5% +13.4% +2.5%
Page 25
25 A sustainable value Results January – June 2026
Page 26
Responsible management Comitted to the environmentFocusedon people New Climate Transition Plan as a roadmap for decarbonisation Emissions reduction targets validated by SBTi 81% of turnover is certified by ISO 14001 Environmental Management Systems Promotion and development of renewable energy projects Biodiversity management and environmental protection in all projects Compliance System aligned with the highest international standards Certification of the Social Responsibility Management System according to IQNet SR10 Supply chain aligned with the Group’s sustainability standards Certified Integrated Management System Ethical and responsible management of the entire Group value chain Health and safety at the core of the business Improvement in accident rates Stable and high-quality employment Promotion of equality and opportunities for all Operational excellence: increased customer satisfaction A sustainable value UNE-ISO 37001 ANTI-BRIBERY MANAGEMENT SYSTEMS STANDARD UNE 19601 CRIMINAL COMPLIANCE MANAGEMENT SYSTEMS STANDARD UNE 19603 COMPLIANCE MANAGEMENT SYSTEMS IN ANTITRUST MATTERS 26
Page 27
27 Changes in the companies that make up the Group and basis of presentation Results January – June 2026
Page 28
28 The individual companies have prepared this financial information in accordance with the accounting principles and policies set out in the Spanish General Chart of Accounts (Plan General de Contabilidad), which came into force on 1 January 2008. The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS). Changes in the companies that make up the Group The most significant changes in the scope of consolidation during the first six months of 2026, compared with the consolidated annual financial statements for the year ended 31 December 2025, were as follows: • The Elecnor Group completed the disposal of its subsidiaries accounted for using the equity method, Moana Data S.L. and Eternelle Energie S.A.R.L. • The Elecnor Group completed the acquisition of the subsidiaries Albany Road Solar, LLC, Scott Road Solar, LLC and Potter Road Solar, LLC in the United States. Basis of presentation and valuation principles
Page 29
29 Appendices Results January – June 2026
Page 30
30 6M 2026 6M 2025 Var (%) Net turnover 1,997.0M€ 2,001.5M€ (0.2%) Domestic 988.6M€ 827.8M€ 19.4% International 1,008M€ 1,173.7M€ (14.1%) EBITDA 143.6M€ 111.8M€ 28.4% Profit before taxes 94.6M€ 56.9M€ 66.1% Consolidated net profit attributable to the Parent Company 68.1M€ 50.2M€ 35.7% 6M 2026 6M 2025 Var (%) Services 35.6M€ 26.1M€ 36.5% Projects 36.7M€ 22.4M€ 64.0% Concessions and own projects: Celeo 6.4M€ 9.2M€ (30.2%) Development and investment 0.3M€ (1.6M€) Group Management and other adjustments (7.8M€) (6.7M€) (16.6%) Operations between segments (3.1M€) 0.8M€ TOTAL 68.1M€ 50.2M€ 35.7% Consolidated net income attributable by segments from Continuing EBITDA attributable by segments Turnover by segments Summary of financial figures Key figures by segments 6M 2026 6M 2025 Var (%) Services 75.8M€ 64.6M€ 17.3% Projects 78.6M€ 54.4M€ 44.4% Concessions and own projects: Celeo 6.4M€ 9.2M€ (30.2%) Development and investment 0.8M€ (1.9M€) 144.3% Group Management and other adjustments (13.2M€) (15.5M€) 14.7% Operations between segments (4.8M€) 1.0M€ TOTAL 143.6M€ 111.8M€ 28.4% 6M 2026 6M 2025 Var (%) Services 1,218.7M€ 1,085.7M€ 12.3% Domestic 911.5M€ 755.1M€ 20.7% International 307.2M€ 330.6M€ (7.1%) Projects 776.6M€ 914.8M€ (15.1%) Domestic 70.6M€ 72.7M€ (2.9%) International 706.1M€ 842.1M€ (16.2%) Group Management and other adjustments (6.5M€) - Operations between segments (4.8M€) 1.0M€ TOTAL 1,997.0M€ 2,001.5M€ (0.2%)
Page 31
31 GRUPO CELEO Concessions and Own Projects SALES OPEX EBITDA (*) Net Debt Km Mw % part. Celeo Initial year Final Year Rate EBITDA Celeo (***) NETWORKS BRAZIL Lt Triangulo,S.A 13,712 (6,206) 7,506 694 - 100% 2006 2036 13,712 7,506 Vila Do Conde Transmissora De Energia SA 10,613 (3,025) 7,588 324 - 100% 2005 2035 10,613 7,588 Pedras Transmissora De Energía, S.A. (lote en construcción) 4,799 (1,087) 3,712 130,238 354 - 100% 2008 2053 29,084 3,712 Coqueiros Transmissora De Energía, S.A. (lote en construcción) 2,061 (1,029) 1,032 67,948 453 - 100% 2008 2054 26,066 1,032 Encruzo Novo Transmissora De Energia,S.A. 3,428 (973) 2,455 443 220 - 100% 2016 2036 3,428 2,455 Linha De Transmissao Corumba,S.A. 6,520 (1,631) 4,889 1,479 278 - 100% 2011 2041 6,520 4,889 Integraçao Maranhense Tranmissora De Energia,S.A. 9,383 (2,449) 6,934 1,050 365 - 51% 2012 2042 9,383 3,536 Caiua Transmissora De Energia,S.A. 5,868 (1,333) 4,535 (2,895) 141 - 51% 2012 2042 5,868 2,313 Cantareira Transmissora De Energía,S.A. 25,174 (4,000) 21,174 56,075 342 - 51% 2014 2044 25,174 10,799 Serra De Ibiapa Transmissora de Energía,S.A. 21,696 (4,484) 17,212 147,105 367 - 100% 2018 2048 21,696 17,212 Brilhante Transmissora De Energia SA 13,038 (3,300) 9,738 19,544 582 - 100% 2009 2039 13,038 9,738 Jauru Transmissora De Energia,S.A. (**) 13,566 (4,657) 8,909 9,914 938 - 66,7% 2007 2037 13,566 5,942 Cachoeira Paulista Transmissora De Energía,S.A. (**) 12,341 (2,382) 9,959 21,300 182 - 50% 2002 2032 12,341 4,980 Parintins Amazonas Transmissora de Energía,S.A. (**) 29,822 (4,894) 24,928 153,036 225 - 50% 2019 2049 29,822 12,464 172,021 (41,450) 130,571 664,693 5,465 - 220,311 94,166 NETWORKS CHILE Nirivilo Transmisora de Energía,S.A. (en construcción) 1,700 (540) 1,160 84,661 73 - 100% 2021 sin límite 7,188 1,160 Alto Jahuel Transmisora de Energia,S.A. 27,941 (3,456) 24,485 256 - 100% 2015 sin límite 27,941 24,485 Charrua Transmisora De Energia,S.A. 19,884 (2,318) 17,566 200 - 100% 2017 sin límite 19,884 17,566 Casablanca Transmisora de Energía,S.A. (en construcción) (**) 5,810 (1,250) 4,560 114 - 50% 2019 sin límite 7,387 2,280 Mataquito Transmisora de Energía,S.A. (en construcción) (**) 1,883 (399) 1,484 391 - 50% 2019 sin límite 16,765 742 Diego de Almagro Transmisora de Energía,S.A (**) 9,704 (1,265) 8,439 57 - 50% 2019 sin límite 9,704 4,220 Alfa Transmisora de Energía,S.A. (**) 84,308 (10,581) 73,727 953,267 950 - 20% 2021 sin límite 84,308 14,745 Margarita Transmisora de Energía,S.A. (en pre- construcción) — — — — 11 100% 2025 sin límite 4,402 — 151,230 (19,809) 131,421 1,684,307 2,052 - 177,579 65,198 NETWORKS PERÚ Puerto Maldonado Transmisora de Energía,S.A.C. (en construcción) 2,244 (665) 1,579 55,056 432 - 100% 2021 2057 17,468 1,579 2,244 (665) 1,579 55,056 432 - 17,468 1,579 RENEWABLES ENERGIES SPAIN Celeo Fotovoltaico, S.L.U. 5,317 (1,343) 3,974 24,458 - 15 100% 2008 2043 5,317 3,974 Dioxipe Solar, S.L. 24,985 (13,687) 11,298 134,412 - 50 97,57% 2012 2037 24,985 11,023 Aries Solar Termoelectrica, S.L. 49,323 (16,512) 32,811 266,788 - 100 100% 2012 2037 49,323 32,811 RENEWABLES ENERGIES BRAZIL Celeo Sao Joao Do Piaui FV I,S.A. 10,319 (5,117) 5,202 54,381 - 180 100% 2018 2051 10,319 5,202 89,944 (36,659) 53,285 480,039 - 345 89,944 53,010 OTHERS 17,810 (26,316) (8,506) (63,675) — — — TOTAL 433,249 (124,899) 308,350 2,820,388 7,949 345 505,302 213,953 Reconciliation with de Celeo subgroup consolidated figures SALES OPEX EBITDA Net Debt Companies accounted for using the equity method (157,434) 17,757 (139,677) (1,357,706) Profit/loss of companies accounted for using the equity method 9,405 Effect of applying IFRS 16 1,942 1,942 Effect of applying IFRIC 12 15,931 15,931 Effect of change of control 56,208 Total Celeo subgroup 291,746 (105,200) 195,951 1,518,890 59,456 425,803 220,576 2025 (*) 100% EBITDA excluding IFRS standards and IFRIC 12 (EBITDA excluding the IFRIC 12 impact better reflects the cash generation capacity of each project). (**) Companies accounted for using the equity method within the Celeo subgroup.**. (***) EBITDA calculated proportionally to the shareholding in the Celeo subgroup, regardless of the accounting consolidation method applied. Celeo projects 2025 (thousand Euros)
Page 32
32 GRUPO CELEO Concessions and Own Projects SALES OPEX EBITDA (*) Net Debt Km Mw % part. Celeo Initial year Final Year Rate EBITDA Celeo (***) NETWORKS BRAZIL Lt Triangulo,S.A 18,371 (7,021) 11,350 694 - 100% 2006 2036 18,371 11,350 Vila Do Conde Transmissora De Energia SA 11,056 (3,048) 8,008 324 - 100% 2005 2035 11,056 8,008 Pedras Transmissora De Energía, S.A. (lote en construcción) 3,788 (994) 2,794 2,507 354 - 100% 2008 2038 24,021 2,794 Coqueiros Transmissora De Energía, S.A. (lote en 2,077 (896) 1,181 (487) 453 - 100% 2008 2038 22,617 1,181 Encruzo Novo Transmissora De Energia,S.A. 3,550 (1,096) 2,454 932 220 - 100% 2016 2036 3,552 2,454 Linha De Transmissao Corumba,S.A. 6,720 (1,585) 5,135 2,055 278 - 100% 2011 2041 6,720 5,135 Integraçao Maranhense Tranmissora De Energia,S.A. 9,730 (2,547) 7,183 3,434 365 - 51% 2012 2042 9,730 3,663 Caiua Transmissora De Energia,S.A. 6,040 (1,782) 4,258 1,018 141 - 51% 2012 2042 6,040 2,172 Cantareira Transmissora De Energía,S.A. 25,248 (4,207) 21,041 61,533 342 - 51% 2014 2044 25,248 10,731 Serra De Ibiapa Transmissora de Energía,S.A. 22,689 (3,676) 19,013 139,975 367 - 100% 2018 2048 22,689 19,013 Brilhante Transmissora De Energia SA 12,441 (2,810) 9,631 21,021 582 - 100% 2009 2039 12,441 9,631 Jauru Transmissora De Energia,S.A. 16,165 (4,799) 11,366 9,415 938 - 66,7% 2007 2037 16,165 7,581 Cachoeira Paulista Transmissora De Energía,S.A. 12,818 (2,512) 10,306 16,962 182 - 50% 2002 2032 12,818 5,153 Parintins Amazonas Transmissora de Energía,S.A. 31,092 (4,563) 26,529 146,415 225 - 50% 2019 2049 31,092 13,265 181,785 (41,536) 140,249 453,809 5,465 - 222,560 102,130 NETWORKS CHILE Nirivilo Transmisora de Energía,S.A. (en construcción) 603 (212) 391 30,277 73 - 100% 2021 sin límite 8,598 391 Alto Jahuel Transmisora de Energia,S.A. 28,770 (3,188) 25,582 257 - 100% 2015 sin límite 28,770 25,582 Charrua Transmisora De Energia,S.A. 20,272 (2,195) 18,077 198 - 100% 2017 sin límite 20,272 18,077 Casablanca Transmisora de Energía,S.A. (en construcción) 2,450 (389) 2,061 110 - 50% 2019 sin límite 10,075 1,031 Mataquito Transmisora de Energía,S.A. (en construcción) 1,961 (336) 1,625 394 - 50% 2019 sin límite 18,817 813 Diego de Almagro Transmisora de Energía,S.A 9,634 (1,262) 8,372 57 - 50% 2019 sin límite 9,634 4,186 Alfa Transmisora de Energía,S.A. 85,326 (7,209) 78,117 1,074,701 - - 20% 85,326 15,623 149,016 (14,791) 134,225 1,837,012 1,089 - 181,492 65,702 NETWORKS PERÚ Puerto Maldonado Transmisora de Energía,S.A.C. (en 2,555 (761) 1,794 48,436 432 - 100% 2021 2053 18,960 1,794 2,555 (761) 1,794 48,436 432 - 18,960 1,794 RENEWABLES ENERGIES SPAIN Celeo Fotovoltaico, S.L.U. 6,241 (1,706) 4,535 26,288 - 15 100% 2008 2043 6,231 4,535 Dioxipe Solar, S.L. 26,555 (9,830) 16,725 144,358 - 50 97,57% 2012 2037 26,555 16,319 Aries Solar Termoelectrica, S.L. 52,891 (21,027) 31,864 288,027 - 100 100% 2012 2037 52,891 31,864 RENEWABLES ENERGIES BRAZIL 0 0 Celeo Sao Joao Do Piaui FV I,S.A. 11,813 (5,668) 6,145 53,827 - 180 100% 2018 2051 11,813 6,145 97,500 (38,231) 59,269 512,500 - 345 97,490 58,863 OTHERS 14,297 (32,995) (18,698) (58,572) — — — TOTAL 445,153 (128,314) 316,839 2,793,185 6,986 345 520,502 228,489 Reconciliation with de Celeo subgroup consolidated figures SALES OPEX EBITDA Net Debt Companies accounted for using the equity method (159,445) 21,069 (138,376) (1,495,123) Profit/loss of companies accounted for using the equity method 8,905 Effect of applying IFRS 16 1,902 1,902 Effect of applying IFRIC 12 4,064 4,064 Effect of change of control 67,880 Total Celeo subgroup 289,772 (105,343) 193,334 1,365,942 2024 49,029 482,082 249,952 (*) 100% EBITDA excluding IFRS standards and IFRIC 12 (EBITDA excluding the IFRIC 12 impact better reflects the cash generation capacity of each project). (**) Companies accounted for using the equity method within the Celeo subgroup.**. (***) EBITDA calculated proportionally to the shareholding in the Celeo subgroup, regardless of the accounting consolidation method applied. Celeo projects 2024 (thousand Euros)
Page 33
33 Follow us on social media A red and white logo Description automatically generated