- Total revenues for Q1'15 estimated between €1,540 M and €1,570 M, with EBITDA for Q1'15 estimated in a range of €265 M - €285 M
- The engineering and construction backlog as at March 31, 2015, reached around €8,600 M.
- Announced transactions with expected cash proceeds of approximately €1,100 M.
WASHINGTON, April 7, 2015 (GLOBE NEWSWIRE) -- Abengoa (MCE:ABG.B/P SM) (Nasdaq:ABGB), the international company that applies innovative technology solutions for sustainability in the energy and environment sectors, presents its preliminary key figures from its financial results for Q1 2015.
Revenues for the first quarter 2015 are expected to be in the range of €1,540 M and €1,570 M, an increase of 1% compared to the same period last year considering the midpoint of the range. At the same time, consolidated EBITDA is expected to reach between €265 M and €285 M, an increase of 0-7%.
The engineering and construction backlog continues to reach new record levels. Strong order intake during the first quarter builds on the high backlog levels reached at the end of 2014, taking our total estimated backlog as at March 31, 2015 to around €8,600 M.
As anticipated, there has been a significant improvement in the working capital position. It is estimated that the net change in working capital as of March 31, 2015 is to be between €(250) M – €(180) M, an improvement of more than 420 million euros at midpoint in comparison to the same period in 2014.
As a result of the above, and together with the corporate transactions announced during this first quarter, Abengoa's corporate liquidity at the end of March is approximately 3,000 M€, a 5% increase compared to the 2,800 M€ available by the end of 2014.
Financial information: disclaimer
The consolidated financial data for the quarter ending March 31, 2015 presented above is preliminary, based upon our estimates and is subject to completion of our closing financial and accounting procedures.
This summary is not a comprehensive statement of Abengoa's consolidated financial results for the quarter ending March 31, 2015 and our actual results for the period may differ from the estimates included in this document due to the completion of our closing financial and accounting procedures and related adjustments, as well as due to the effect of events that may arise between now and the date on which the financial results for the first 2014 are finalized.
About Abengoa
Abengoa (MCE:ABG.B/P SM) (Nasdaq:ABGB) applies innovative technology solutions for sustainability in the energy and environment sectors, generating electricity from renewable resources, converting biomass into biofuels and producing drinking water from sea water. (www.abengoa.com)