Financial information by segment (Tables)
|
12 Months Ended |
Dec. 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 Revenues and Adjusted EBITDA by operating segments and business sectors for the years 2022, 2021 and 2020:
|
| |
|
Revenue
|
|
|
Adjusted EBITDA
|
|
| |
|
For the year ended December 31,
|
|
|
For the year ended December 31,
|
|
|
Geography
|
|
2022
|
|
|
2021
|
|
|
2020
|
|
|
2022
|
|
|
2021
|
|
|
2020
|
|
|
North America
|
|
|
405,047
|
|
|
|
395,775
|
|
|
|
330,921
|
|
|
|
309,988
|
|
|
|
311,803
|
|
|
|
279,365
|
|
|
South America
|
|
|
166,441
|
|
|
|
154,985
|
|
|
|
151,460
|
|
|
|
126,551
|
|
|
|
119,547
|
|
|
|
120,023
|
|
|
EMEA
|
|
|
530,541
|
|
|
|
660,989
|
|
|
|
530,879
|
|
|
|
360,561
|
|
|
|
393,038
|
|
|
|
396,735
|
|
|
Total
|
|
|
1,102,029
|
|
|
|
1,211,749
|
|
|
|
1,013,260
|
|
|
|
797,100
|
|
|
|
824,388
|
|
|
|
796,123
|
|
| |
|
Revenue
|
|
|
Adjusted EBITDA
|
|
| |
|
For the year ended December 31,
|
|
|
For the year ended December 31,
|
|
|
Business sectors
|
|
2022
|
|
|
2021
|
|
|
2020
|
|
|
2022
|
|
|
2021
|
|
|
2020
|
|
|
Renewable energy
|
|
|
821,377
|
|
|
|
928,525
|
|
|
|
753,089
|
|
|
|
588,016
|
|
|
|
602,583
|
|
|
|
576,285
|
|
|
Efficient natural gas & Heat
|
|
|
113,591
|
|
|
|
123,692
|
|
|
|
111,030
|
|
|
|
84,560
|
|
|
|
99,935
|
|
|
|
101,006
|
|
|
Transmission lines
|
|
|
113,273
|
|
|
|
105,680
|
|
|
|
106,042
|
|
|
|
88,010
|
|
|
|
83,635
|
|
|
|
87,272
|
|
|
Water
|
|
|
53,788
|
|
|
|
53,852
|
|
|
|
43,099
|
|
|
|
36,514
|
|
|
|
38,235
|
|
|
|
31,560
|
|
|
Total
|
|
|
1,102,029
|
|
|
|
1,211,749
|
|
|
|
1,013,260
|
|
|
|
797,100
|
|
|
|
824,388
|
|
|
|
796,123
|
|
The reconciliation of segment Adjusted EBITDA with the profit/(loss) attributable to the parent company is as follows:
| |
|
For the year ended December 31,
|
|
| |
|
2022
|
|
|
2021
|
|
|
2020
|
|
|
Profit/(loss) attributable to the Company
|
|
|
(5,443
|
)
|
|
|
(30,080
|
)
|
|
|
11,968
|
|
|
Profit attributable to non-controlling interests
|
|
|
3,356
|
|
|
|
19,162
|
|
|
|
4,906
|
|
|
Income tax expense/(income)
|
|
|
(9,689
|
)
|
|
|
36,220
|
|
|
|
24,877
|
|
|
Financial expense, net
|
|
|
310,934
|
|
|
|
340,892
|
|
|
|
331,810
|
|
|
Depreciation, amortization, and impairment charges
|
|
|
473,638
|
|
|
|
439,441
|
|
|
|
408,604
|
|
|
Depreciation and amortization, financial expense and income tax expense of unconsolidated affiliates (pro rata of Atlantica’s equity ownership)
|
|
|
24,304
|
|
|
|
18,753
|
|
|
|
13,958
|
|
|
Total segment Adjusted EBITDA
|
|
|
797,100
|
|
|
|
824,388
|
|
|
|
796,123
|
|
|
| Assets and liabilities by geography |
| b) |
The assets and liabilities by geography and business sector at the end of 2022 and 2021 are as follows:
|
Assets and liabilities by geography as of December 31, 2022:
| |
|
North
America
|
|
|
South America
|
|
|
EMEA
|
|
|
Balance as of
December 31,
2022
|
|
|
Assets allocated
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contracted concessional, PP&E and other intangible assets |
|
|
3,167,490
|
|
|
|
1,241,879
|
|
|
|
3,073,889
|
|
|
|
7,483,259
|
|
|
Investments carried under the equity method
|
|
|
210,704
|
|
|
|
4,450
|
|
|
|
44,878
|
|
|
|
260,031
|
|
| Other current financial assets |
|
|
118,385
|
|
|
|
31,136
|
|
|
|
46,373
|
|
|
|
195,893
|
|
|
Cash and cash equivalents (project companies)
|
|
|
187,568
|
|
|
|
85,697
|
|
|
|
266,557
|
|
|
|
539,822
|
|
|
Subtotal allocated
|
|
|
3,684,147
|
|
|
|
1,363,162
|
|
|
|
3,431,697
|
|
|
|
8,479,005
|
|
|
Unallocated assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other non-current assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
325,893
|
|
|
Other current assets (including cash and cash equivalents at holding company level)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
296,013
|
|
|
Subtotal unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
621,906
|
|
|
Total assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,100,911
|
|
| |
|
North
America
|
|
|
South America
|
|
|
EMEA
|
|
|
Balance as of
December 31,
2022
|
|
|
Liabilities allocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term and short-term project debt
|
|
|
1,713,125
|
|
|
|
841,906
|
|
|
|
1,998,021
|
|
|
|
4,553,052
|
|
|
Grants and other liabilities
|
|
|
994,874
|
|
|
|
25,031
|
|
|
|
232,608
|
|
|
|
1,252,513
|
|
|
Subtotal allocated
|
|
|
2,707,999
|
|
|
|
866,937
|
|
|
|
2,230,629
|
|
|
|
5,805,565
|
|
|
Unallocated liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term and short-term corporate debt
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,017,200
|
|
|
Other non-current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
313,328
|
|
|
Other current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
175,771
|
|
|
Subtotal unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,506,299
|
|
|
Total liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,311,864
|
|
|
Equity unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,789,047
|
|
|
Total liabilities and equity unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,295,346
|
|
|
Total liabilities and equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,100,911
|
|
Assets and liabilities by geography as of December 31, 2021:
| |
|
North
America
|
|
|
South America
|
|
|
EMEA
|
|
|
Balance as of
December 31,
2021
|
|
|
Assets allocated
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contracted concessional, PP&E and other intangible 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
|
|
| Other current financial assets |
|
|
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
|
|
|
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 sectors |
Assets and liabilities by business sectors as of December 31, 2022:
| |
|
Renewable
energy
|
|
|
Efficient
natural gas
& Heat
|
|
|
Transmission
lines
|
|
|
Water
|
|
|
Balance as of
December 31,
2022
|
|
|
Assets allocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contracted concessional, PP&E and other intangible assets |
|
|
6,035,091
|
|
|
|
485,431
|
|
|
|
800,067
|
|
|
|
162,670
|
|
|
|
7,483,259
|
|
|
Investments carried under the equity method
|
|
|
203,420
|
|
|
|
10,034
|
|
|
|
4,450
|
|
|
|
42,128
|
|
|
|
260,031
|
|
| Other current financial assets |
|
|
6,706
|
|
|
|
116,366
|
|
|
|
30,582
|
|
|
|
42,240
|
|
|
|
195,893
|
|
|
Cash and cash equivalents (project companies)
|
|
|
392,577
|
|
|
|
73,673
|
|
|
|
48,073
|
|
|
|
25,498
|
|
|
|
539,822
|
|
|
Subtotal allocated
|
|
|
6,637,794
|
|
|
|
685,504
|
|
|
|
883,172
|
|
|
|
272,536
|
|
|
|
8,479,005
|
|
|
Unallocated assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other non-current assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
325,893
|
|
|
Other current assets (including cash and cash equivalents at holding company level)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
296,013
|
|
|
Subtotal unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
621,906
|
|
|
Total assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,100,911
|
|
| |
|
Renewable
energy
|
|
|
Efficient
natural gas
& Heat
|
|
|
Transmission
lines
|
|
|
Water
|
|
|
Balance as of
December 31,
2022
|
|
|
Liabilities allocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term and short-term project debt
|
|
|
3,442,625
|
|
|
|
440,999
|
|
|
|
582,689
|
|
|
|
86,739
|
|
|
|
4,553,052
|
|
|
Grants and other liabilities
|
|
|
1,211,878
|
|
|
|
32,138
|
|
|
|
6,040
|
|
|
|
2,457
|
|
|
|
1,252,513
|
|
|
Subtotal allocated
|
|
|
4,654,503
|
|
|
|
473,137
|
|
|
|
588,729
|
|
|
|
89,196
|
|
|
|
5,805,565
|
|
|
Unallocated liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term and short-term corporate debt
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,017,200
|
|
|
Other non-current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
313,328
|
|
|
Other current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
175,771
|
|
|
Subtotal unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,506,299
|
|
|
Total liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,311,864
|
|
|
Equity unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,789,047
|
|
|
Total liabilities and equity unallocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,295,346
|
|
|
Total liabilities and equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,100,911
|
|
Assets and liabilities by business sectors as of December 31, 2021:
| |
|
Renewable
energy
|
|
|
Efficient
natural gas
& Heat
|
|
|
|
|
|
Water
|
|
|
Balance as of
December 31,
2021
|
|
|
Assets allocated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contracted concessional, PP&E and other intangible 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
|
|
| Other current financial assets |
|
|
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
|
|
|
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 years ended December 31, 2022, 2021 and 2020 are as follows:
|
| |
|
For the year ended December 31,
|
|
|
Depreciation, amortization and impairment by geography
|
|
2022
|
|
|
2021
|
|
|
2020
|
|
|
North America
|
|
|
(182,159
|
)
|
|
|
(152,946
|
)
|
|
|
(197,643
|
)
|
|
South America
|
|
|
(80,039
|
)
|
|
|
(57,214
|
)
|
|
|
(39,191
|
)
|
|
EMEA
|
|
|
(211,440
|
)
|
|
|
(229,281
|
)
|
|
|
(171,770
|
)
|
|
Total
|
|
|
(473,638
|
)
|
|
|
(439,441
|
)
|
|
|
(408,604
|
)
|
| |
|
For the year ended December 31,
|
|
|
Depreciation, amortization and impairment by business sectors
|
|
2022
|
|
|
2021
|
|
|
2020
|
|
|
Renewable energy
|
|
|
(434,042
|
)
|
|
|
(432,138
|
)
|
|
|
(350,785
|
)
|
|
Efficient natural gas & Heat
|
|
|
(5,430
|
)
|
|
|
23,910
|
|
|
|
(26,563
|
)
|
|
Transmission lines
|
|
|
(32,466
|
)
|
|
|
(31,286
|
)
|
|
|
(30,889
|
)
|
|
Water
|
|
|
(1,700
|
)
|
|
|
73
|
|
|
|
(367
|
)
|
|
Total
|
|
|
(473,638
|
)
|
|
|
(439,441
|
)
|
|
|
(408,604
|
)
|
|