v3.23.1

Financial information by segment (Tables) | 3 Months Ended
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Mar. 31, 2023
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, 2023 and 2022:
|  | Revenue |  |  | Adjusted EBITDA |
|  | For the three-month period ended March 31, |  |  | For the three-month period ended March 31, |
|  | ($ in thousands) |
Geography |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
North America |  |  | 72,840 |  |  |  | 74,304 |  |  |  | 51,969 |  |  |  | 58,266 |
South America |  |  | 43,720 |  |  |  | 38,528 |  |  |  | 33,788 |  |  |  | 29,129 |
EMEA |  |  | 125,949 |  |  |  | 134,620 |  |  |  | 88,447 |  |  |  | 86,231 |
Total |  |  | 242,509 |  |  |  | 247,452 |  |  |  | 174,204 |  |  |  | 173,626 |
|  | Revenue |  |  | Adjusted EBITDA |
|  | For the three-month period ended March 31, |  |  | For the three-month period ended March 31, |
|  | ($ in thousands) |
Business sectors |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Renewable energy |  |  | 172,601 |  |  |  | 182,101 |  |  |  | 119,122 |  |  |  | 122,223 |
Efficient natural gas & heat |  |  | 27,403 |  |  |  | 25,327 |  |  |  | 22,610 |  |  |  | 21,699 |
Transmission lines |  |  | 28,831 |  |  |  | 26,620 |  |  |  | 23,470 |  |  |  | 20,523 |
Water |  |  | 13,674 |  |  |  | 13,404 |  |  |  | 9,002 |  |  |  | 9,181 |
Total |  |  | 242,509 |  |  |  | 247,452 |  |  |  | 174,204 |  |  |  | 173,626 |
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) |
|  | 2023 |  |  | 2022 |
Loss attributable to the Company |  |  | (10,990 | ) |  |  | (12,042 | )
Profit attributable to non-controlling interests |  |  | 5,017 |  |  |  | 2,200 |
Income tax |  |  | (9,656 | ) |  |  | (3,906 | )
Financial expense, net |  |  | 80,434 |  |  |  | 80,467 |
Depreciation, amortization, and impairment charges |  |  | 103,790 |  |  |  | 100,925 |
Depreciation and amortization, financial expense and income tax expense of unconsolidated affiliates (pro rata of Atlantica’s equity ownership) |  |  | 5,609 |  |  |  | 5,982 |
Total segment Adjusted EBITDA |  |  | 174,204 |  |  |  | 173,626 |
Assets and liabilities by geography |
b) | The assets and liabilities by operating segments and business sector as of March 31, 2023 and December 31, 2022 are as follows:
Assets and liabilities by geography as of March 31, 2023:
|  | North America |  |  | South America |  |  | EMEA |  |  | Balance as of March 31, 2023 |
|  | ($ in thousands) |
Assets allocated |  |  |  |  |  |  |  |  |  |  |  |
Contracted concessional, PP&E and other intangible assets |  |  | 3,138,564 |  |  |  | 1,226,461 |  |  |  | 3,067,671 |  |  |  | 7,432,696 |
Investments carried under the equity method |  |  | 202,969 |  |  |  | 8,236 |  |  |  | 47,059 |  |  |  | 258,264 |
Other current financial assets |  |  | 106,038 |  |  |  | 31,233 |  |  |  | 49,483 |  |  |  | 186,754 |
Cash and cash equivalents (project companies) |  |  | 159,132 |  |  |  | 96,217 |  |  |  | 237,712 |  |  |  | 493,061 |
Subtotal allocated |  |  | 3,606,703 |  |  |  | 1,362,147 |  |  |  | 3,401,925 |  |  |  | 8,370,775 |
Unallocated assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 321,855 |
Other current assets (including cash and cash equivalents at holding company level) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 413,053 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 734,908 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,105,683 |
|  | North America |  |  | South America |  |  | EMEA |  |  | Balance as of March 31, 2023 |
|  | ($ in thousands) |
Liabilities allocated |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term project debt |  |  | 1,714,357 |  |  |  | 843,014 |  |  |  | 2,039,252 |  |  |  | 4,596,623 |
Grants and other liabilities |  |  | 980,663 |  |  |  | 30,272 |  |  |  | 235,498 |  |  |  | 1,246,433 |
Subtotal allocated |  |  | 2,695,020 |  |  |  | 873,286 |  |  |  | 2,274,750 |  |  |  | 5,843,056 |
Unallocated liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term corporate debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,077,360 |
Other non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 310,040 |
Other current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 165,398 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,552,798 |
Total liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,395,854 |
Equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,709,829 |
Total liabilities and equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,262,627 |
Total liabilities and equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,105,683 |
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 business sector | Assets and liabilities by business sector as of March 31, 2023:
|  | Renewable energy |  |  | Efficient natural gas & heat |  |  | Transmission lines |  |  | Water |  |  | Balance as of March 31, 2023 |
|  | ($ in thousands) |
Assets allocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracted concessional assets, PP&E and other intangible assets |  |  | 5,995,445 |  |  |  | 479,715 |  |  |  | 792,405 |  |  |  | 165,131 |  |  |  | 7,432,696 |
Investments carried under the equity method |  |  | 199,817 |  |  |  | 9,563 |  |  |  | 4,450 |  |  |  | 44,434 |  |  |  | 258,264 |
Other current financial assets |  |  | 5,120 |  |  |  | 104,851 |  |  |  | 30,656 |  |  |  | 46,127 |  |  |  | 186,754 |
Cash and cash equivalents (project companies) |  |  | 361,982 |  |  |  | 40,116 |  |  |  | 67,235 |  |  |  | 23,728 |  |  |  | 493,061 |
Subtotal allocated |  |  | 6,562,364 |  |  |  | 634,245 |  |  |  | 894,746 |  |  |  | 279,420 |  |  |  | 8,370,775 |
Unallocated assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 321,855 |
Other current assets (including cash and cash equivalents at holding company level) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 413,053 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 734,908 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,105,683 |
|  | Renewable energy |  |  | Efficient natural gas & heat |  |  | Transmission lines |  |  | Water |  |  | Balance as of March 31, 2023 |
|  | ($ in thousands) |
Liabilities allocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term project debt |  |  | 3,495,259 |  |  |  | 428,079 |  |  |  | 588,356 |  |  |  | 84,929 |  |  |  | 4,596,623 |
Grants and other liabilities |  |  | 1,206,035 |  |  |  | 32,090 |  |  |  | 5,814 |  |  |  | 2,494 |  |  |  | 1,246,433 |
Subtotal allocated |  |  | 4,701,294 |  |  |  | 460,169 |  |  |  | 594,170 |  |  |  | 87,423 |  |  |  | 5,843,056 |
Unallocated liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term corporate debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,077,360 |
Other non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 310,040 |
Other current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 165,398 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,552,798 |
Total liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,395,854 |
Equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,709,829 |
Total liabilities and equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,262,627 |
Total liabilities and equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,105,683 |
Assets and liabilities by business sector 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 |
Depreciation, amortization and impairment charges recognized |
c) | The amount of depreciation, amortization and impairment charges recognized for the three-month periods ended March 31, 2023 and 2022 are as follows:
|  | For the three-month period ended March 31, |
Depreciation, amortization and impairment by geography |  | 2023 |  |  | 2022 |
|  | ($ in thousands) |
North America |  |  | (36,347 | ) |  |  | (31,692 | )
South America |  |  | (14,203 | ) |  |  | (14,205 | )
EMEA |  |  | (53,240 | ) |  |  | (55,028 | )
Total |  |  | (103,790 | ) |  |  | (100,925 | )
|  | For the three-month period ended March 31, |
Depreciation, amortization and impairment by business sectors |  | 2023 |  |  | 2022 |
|  | ($ in thousands) |
Renewable energy |  |  | (93,248 | ) |  |  | (95,270 | )
Efficient natural gas & heat |  |  | (3,054 | ) |  |  | 2,144 |
Transmission lines |  |  | (7,223 | ) |  |  | (7,407 | )
Water |  |  | (265 | ) |  |  | (392 | )
Total |  |  | (103,790 | ) |  |  | (100,925 | )

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