Financial information by segment (Tables)
|
3 Months Ended |
Mar. 31, 2022 |
|---|
| Financial information by segment [Abstract] |
|
| Revenues and Adjusted EBITDA, assets and liabilities by operating segments and business sectors |
|
a)
|
The following tables show Revenue and Adjusted EBITDA by
operating segments and business sectors for the three-month periods ended March 31, 2022 and 2021:
|
| |
|
Revenue
|
|
|
Adjusted EBITDA
|
|
| |
|
For the three-month period ended
March 31,
|
|
|
For the three-month period ended
March 31,
|
|
| |
|
($ in thousands)
|
|
|
Geography
|
|
2022
|
|
|
2021
|
|
|
2022
|
|
|
2021
|
|
|
North America
|
|
|
74,304
|
|
|
|
60,585
|
|
|
|
58,266
|
|
|
|
40,287
|
|
|
South America
|
|
|
38,528
|
|
|
|
38,308
|
|
|
|
29,129
|
|
|
|
29,943
|
|
|
EMEA
|
|
|
134,620
|
|
|
|
169,285
|
|
|
|
86,231
|
|
|
|
101,019
|
|
|
Total
|
|
|
247,452
|
|
|
|
268,178
|
|
|
|
173,626
|
|
|
|
171,249
|
|
| |
|
Revenue
|
|
|
Adjusted EBITDA
|
|
| |
|
For the three-month period ended
March 31,
|
|
|
For the three-month period ended
March 31,
|
|
| |
|
($ in thousands)
|
|
|
Business sector
|
|
2022
|
|
|
2021
|
|
|
2022
|
|
|
2021
|
|
|
Renewable energy
|
|
|
182,101
|
|
|
|
199,679
|
|
|
|
122,223
|
|
|
|
117,036
|
|
|
Efficient natural gas & heat
|
|
|
25,327
|
|
|
|
28,408
|
|
|
|
21,699
|
|
|
|
23,182
|
|
|
Transmission lines
|
|
|
26,620
|
|
|
|
26,614
|
|
|
|
20,523
|
|
|
|
21,203
|
|
|
Water
|
|
|
13,404
|
|
|
|
13,477
|
|
|
|
9,181
|
|
|
|
9,828
|
|
|
Total
|
|
|
247,452
|
|
|
|
268,178
|
|
|
|
173,626
|
|
|
|
171,249
|
|
The reconciliation of segment Adjusted EBITDA with the loss
attributable to the Company is as follows:
| |
|
For the three-month period ended
March 31,
($ in thousands)
|
|
| |
|
2022
|
|
|
2021
|
|
|
Loss attributable to the Company
|
|
|
(12,042
|
)
|
|
|
(19,172
|
)
|
|
Profit attributable to non-controlling interests
|
|
|
2,200
|
|
|
|
8,108
|
|
|
Income tax
|
|
|
(3,906
|
)
|
|
|
15,241
|
|
|
Financial expense, net
|
|
|
80,467
|
|
|
|
81,192
|
|
|
Depreciation, amortization, and impairment charges
|
|
|
100,925
|
|
|
|
83,541
|
|
Depreciation and amortization, financial expense and income tax expense of unconsolidated affiliates (pro rata of Atlantica’s equity ownership)
|
|
|
5,982 |
|
|
|
2,339 |
|
|
Total segment Adjusted EBITDA
|
|
|
173,626
|
|
|
|
171,249
|
|
|
| Assets and liabilities by geography |
|
b)
|
The assets and liabilities by operating segments (and business sector) as of March 31, 2022 and December 31, 2021 are as follows:
|
Assets and liabilities by geography as of March 31, 2022:
| |
|
North
America
|
|
|
South
America
|
|
|
EMEA
|
|
|
Balance as of
March 31,
2022
|
|
| |
|
($ in thousands)
|
|
|
Assets allocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracted concessional assets
|
|
|
3,317,648
|
|
|
|
1,257,673
|
|
|
|
3,356,561
|
|
|
|
7,931,882
|
|
|
Investments carried under the equity method
|
|
|
243,043
|
|
|
|
-
|
|
|
|
41,986
|
|
|
|
285,029
|
|
|
Current financial investments
|
|
|
116,125
|
|
|
|
28,554
|
|
|
|
41,237
|
|
|
|
185,916
|
|
|
Cash and cash equivalents (project companies)
|
|
|
183,006
|
|
|
|
96,186
|
|
|
|
345,953
|
|
|
|
625,145
|
|
|
Subtotal allocated
|
|
|
3,859,822
|
|
|
|
1,382,413
|
|
|
|
3,785,737
|
|
|
|
9,027,972
|
|
|
Unallocated assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other non-current assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
277,989
|
|
|
Other current assets (including cash and cash equivalents at holding company level)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
449,507
|
|
|
Subtotal unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
727,496
|
|
|
Total assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,755,468
|
|
| |
|
North
America
|
|
|
South
America
|
|
|
EMEA
|
|
|
Balance as of
March 31,
2022
|
|
| |
|
($ in thousands)
|
|
|
Liabilities allocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term and short-term project debt
|
|
|
1,799,441
|
|
|
|
873,713
|
|
|
|
2,363,853
|
|
|
|
5,037,007
|
|
|
Grants and other liabilities
|
|
|
1,033,773
|
|
|
|
15,577
|
|
|
|
202,228
|
|
|
|
1,251,578
|
|
|
Subtotal allocated
|
|
|
2,833,214
|
|
|
|
889,290
|
|
|
|
2,566,081
|
|
|
|
6,288,585
|
|
|
Unallocated liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term and short-term corporate debt
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,056,145
|
|
|
Other non-current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
453,940
|
|
|
Other current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
154,302
|
|
|
Subtotal unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,664,387
|
|
|
Total liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,952,972
|
|
|
Equity unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,802,496
|
|
|
Total liabilities and equity unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,466,883
|
|
|
Total liabilities and equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,755,468
|
|
Assets and liabilities by geography as of December 31, 2021:
| |
|
North
America
|
|
|
South
America
|
|
|
EMEA
|
|
|
Balance as of
December 31,
2021
|
|
| |
|
($ in thousands)
|
|
|
Assets allocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracted concessional assets
|
|
|
3,355,669
|
|
|
|
1,231,276
|
|
|
|
3,434,623
|
|
|
|
8,021,568
|
|
|
Investments carried under the equity method
|
|
|
253,221
|
|
|
|
-
|
|
|
|
41,360
|
|
|
|
294,581
|
|
|
Current financial investments
|
|
|
135,224
|
|
|
|
28,155
|
|
|
|
44,000
|
|
|
|
207,379
|
|
|
Cash and cash equivalents (project companies)
|
|
|
171,744
|
|
|
|
74,149
|
|
|
|
287,655
|
|
|
|
533,548
|
|
|
Subtotal allocated
|
|
|
3,915,858
|
|
|
|
1,333,580
|
|
|
|
3,807,638
|
|
|
|
9,057,076
|
|
|
Unallocated assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other non-current assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
268,876
|
|
|
Other current assets (including cash and cash equivalents at holding company level)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
425,978
|
|
|
Subtotal unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
694,854
|
|
|
Total assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,751,930
|
|
| |
|
North
America
|
|
|
South
America
|
|
|
EMEA
|
|
|
Balance as of
December 31,
2021
|
|
| |
|
($ in thousands)
|
|
|
Liabilities allocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term and short-term project debt
|
|
|
1,792,739
|
|
|
|
887,497
|
|
|
|
2,355,957
|
|
|
|
5,036,193
|
|
|
Grants and other liabilities
|
|
|
1,051,679
|
|
|
|
14,445
|
|
|
|
197,620
|
|
|
|
1,263,744
|
|
|
Subtotal allocated
|
|
|
2,844,418
|
|
|
|
901,942
|
|
|
|
2,553,577
|
|
|
|
6,299,937
|
|
|
Unallocated liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term and short-term corporate debt
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,023,071
|
|
|
Other non-current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
532,312
|
|
|
Other current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
148,005
|
|
|
Subtotal unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,703,388
|
|
|
Total liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,003,325
|
|
|
Equity unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,748,605
|
|
|
Total liabilities and equity unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,451,993
|
|
|
Total liabilities and equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,751,930
|
|
|
| Assets and liabilities by business sector |
Assets and liabilities by business sector as of March 31, 2022:
| |
|
Renewable
energy
|
|
|
Efficient
natural
gas & heat
|
|
|
Transmission
lines
|
|
|
Water
|
|
|
Balance as of
March 31,
2022
|
|
| |
|
($ in thousands)
|
|
|
Assets allocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracted concessional assets
|
|
|
6,430,438
|
|
|
|
510,580
|
|
|
|
830,053
|
|
|
|
160,811
|
|
|
|
7,931,882
|
|
|
Investments carried under the equity method
|
|
|
230,737
|
|
|
|
14,692
|
|
|
|
-
|
|
|
|
39,600
|
|
|
|
285,029
|
|
|
Current financial investments
|
|
|
2,521
|
|
|
|
115,497
|
|
|
|
28,335
|
|
|
|
39,563
|
|
|
|
185,916
|
|
|
Cash and cash equivalents (project companies)
|
|
|
494,425
|
|
|
|
41,092
|
|
|
|
66,348
|
|
|
|
23,280
|
|
|
|
625,145
|
|
|
Subtotal allocated
|
|
|
7,158,121
|
|
|
|
681,861
|
|
|
|
924,736
|
|
|
|
263,254
|
|
|
|
9,027,972
|
|
|
Unallocated assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other non-current assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
277,989
|
|
|
Other current assets (including cash and cash equivalents at holding company level)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
449,507
|
|
|
Subtotal unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
727,496
|
|
|
Total assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,755,468
|
|
| |
|
Renewable
energy
|
|
|
Efficient
natural gas
& heat
|
|
|
Transmission
lines
|
|
|
Water
|
|
|
Balance as of
March 31,
2022
|
|
| |
|
($ in thousands)
|
|
|
Liabilities allocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term and short-term project debt
|
|
|
3,865,853
|
|
|
|
470,890
|
|
|
|
608,062
|
|
|
|
92,202
|
|
|
|
5,037,007
|
|
|
Grants and other liabilities
|
|
|
1,232,324
|
|
|
|
11,272
|
|
|
|
5,661
|
|
|
|
2,321
|
|
|
|
1,251,578
|
|
|
Subtotal allocated
|
|
|
5,098,177
|
|
|
|
482,162
|
|
|
|
613,723
|
|
|
|
94,523
|
|
|
|
6,288,585
|
|
|
Unallocated liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term and short-term corporate debt
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,056,145
|
|
|
Other non-current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
453,940
|
|
|
Other current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
154,302
|
|
|
Subtotal unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,664,387
|
|
|
Total liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,952,972
|
|
|
Equity unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,802,496
|
|
|
Total liabilities and equity unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,466,883
|
|
|
Total liabilities and equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,755,468
|
|
Assets and liabilities by business sector as of December 31, 2021:
| |
|
Renewable
energy
|
|
|
Efficient
natural gas
& heat
|
|
|
Transmission
lines
|
|
|
Water
|
|
|
Balance as of
December 31,
2021
|
|
| |
|
($ in thousands)
|
|
|
Assets allocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracted concessional assets
|
|
|
6,533,408
|
|
|
|
517,247
|
|
|
|
805,987
|
|
|
|
164,926
|
|
|
|
8,021,568
|
|
|
Investments carried under the equity method
|
|
|
240,302
|
|
|
|
15,358
|
|
|
|
-
|
|
|
|
38,921
|
|
|
|
294,581
|
|
|
Current financial investments
|
|
|
10,761
|
|
|
|
128,461
|
|
|
|
27,813
|
|
|
|
40,344
|
|
|
|
207,379
|
|
|
Cash and cash equivalents (project companies)
|
|
|
442,213
|
|
|
|
25,392
|
|
|
|
44,574
|
|
|
|
21,369
|
|
|
|
533,548
|
|
|
Subtotal allocated
|
|
|
7,226,684
|
|
|
|
686,458
|
|
|
|
878,374
|
|
|
|
265,560
|
|
|
|
9,057,076
|
|
|
Unallocated assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other non-current assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
268,876
|
|
|
Other current assets (including cash and cash equivalents at holding company level)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
425,978
|
|
|
Subtotal unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
694,854
|
|
|
Total assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,751,930
|
|
| |
|
Renewable
energy
|
|
|
Efficient
natural gas
& heat
|
|
|
Transmission
lines
|
|
|
Water
|
|
|
Balance as of
December 31,
2021
|
|
| |
|
($ in thousands)
|
|
|
Liabilities allocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term and short-term project debt
|
|
|
3,857,313
|
|
|
|
478,724
|
|
|
|
602,278
|
|
|
|
97,878
|
|
|
|
5,036,193
|
|
|
Grants and other liabilities
|
|
|
1,244,346
|
|
|
|
11,212
|
|
|
|
5,795
|
|
|
|
2,391
|
|
|
|
1,263,744
|
|
|
Subtotal allocated
|
|
|
5,101,659
|
|
|
|
489,936
|
|
|
|
608,073
|
|
|
|
100,269
|
|
|
|
6,299,937
|
|
|
Unallocated liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term and short-term corporate debt
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,023,071
|
|
|
Other non-current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
532,312
|
|
|
Other current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
148,005
|
|
|
Subtotal unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,703,388
|
|
|
Total liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,003,325
|
|
|
Equity unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,748,605
|
|
|
Total liabilities and equity unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,451,993
|
|
|
Total liabilities and equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,751,930
|
|
|
| Depreciation, amortization and impairment charges recognized |
|
c)
|
The amount of depreciation, amortization and impairment charges
recognized for the three-month periods ended March 31, 2022 and 2021 are as follows:
|
| |
For the three-month period ended
March 31,
|
|
|
Depreciation, amortization and impairment by geography
|
2022
|
|
|
2021
|
|
| |
($ in thousands) |
|
|
North America
|
|
|
(31,692
|
)
|
|
|
(12,627
|
)
|
|
South America
|
|
|
(14,205
|
)
|
|
|
(13,811
|
)
|
|
EMEA
|
|
|
(55,028
|
)
|
|
|
(57,103
|
)
|
|
Total
|
|
|
(100,925
|
)
|
|
|
(83,541
|
)
|
| |
|
For the three-month period ended
March 31,
|
|
|
Depreciation, amortization and impairment by business sectors
|
|
2022
|
|
|
2021
|
|
| |
|
($ in thousands)
|
|
|
Renewable energy
|
|
|
(95,270
|
)
|
|
|
(93,571
|
)
|
|
Efficient natural gas & heat
|
|
|
2,144
|
|
|
|
17,357
|
|
|
Transmission lines
|
|
|
(7,407
|
)
|
|
|
(7,749
|
)
|
|
Water
|
|
|
(392
|
)
|
|
|
422
|
|
|
Total
|
|
|
(100,925
|
)
|
|
|
(83,541
|
)
|
|