v3.23.2

Financial information by segment (Tables) | 6 Months Ended
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Jun. 30, 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 six-month periods ended June 30, 2023 and 2022:
|  | Revenue |  |  | Adjusted EBITDA |
|  | For the six-month period ended June 30, |  |  | For the six-month period ended June 30, |
|  | ($ in thousands) |
Geography |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
North America |  |  | 202,171 |  |  |  | 199,271 |  |  |  | 154,038 |  |  |  | 161,180 |
South America |  |  | 91,513 |  |  |  | 78,331 |  |  |  | 74,428 |  |  |  | 58,843 |
EMEA |  |  | 260,935 |  |  |  | 277,682 |  |  |  | 175,362 |  |  |  | 182,282 |
Total |  |  | 554,619 |  |  |  | 555,284 |  |  |  | 403,828 |  |  |  | 402,305 |
|  | Revenue |  |  | Adjusted EBITDA |
|  | For the six-month period ended June 30, |  |  | For the six-month period ended June 30, |
|  | ($ in thousands) |
Business sectors |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Renewable energy |  |  | 411,210 |  |  |  | 420,335 |  |  |  | 292,570 |  |  |  | 296,830 |
Efficient natural gas & heat |  |  | 54,810 |  |  |  | 53,419 |  |  |  | 44,006 |  |  |  | 44,014 |
Transmission lines |  |  | 60,998 |  |  |  | 54,853 |  |  |  | 49,250 |  |  |  | 43,178 |
Water |  |  | 27,601 |  |  |  | 26,677 |  |  |  | 18,002 |  |  |  | 18,283 |
Total |  |  | 554,619 |  |  |  | 555,284 |  |  |  | 403,828 |  |  |  | 402,305 |
The reconciliation of segment Adjusted EBITDA with the profit attributable to the Company is as follows:
|  | For the six-month period ended June 30, ($ in thousands) |
|  | 2023 |  |  | 2022 |
Profit attributable to the Company |  |  | 24,661 |  |  |  | 4,070 |
Profit attributable to non-controlling interests |  |  | 6,130 |  |  |  | 6,728 |
Income tax (benefit)/expense |  |  | (2,168 | ) |  |  | 6,050 |
Financial expense, net |  |  | 159,387 |  |  |  | 155,779 |
Depreciation, amortization, and impairment charges |  |  | 207,118 |  |  |  | 217,809 |
Depreciation and amortization, financial expense and income tax expense of unconsolidated affiliates (pro rata of Atlantica’s equity ownership) |  |  | 8,700 |  |  |  | 11,869 |
Total segment Adjusted EBITDA |  |  | 403,828 |  |  |  | 402,305 |
Assets and liabilities by geography |
b) | The assets and liabilities by operating segments and business sector as of June 30, 2023 and December 31, 2022 are as follows:
Assets and liabilities by geography as of June 30, 2023:
|  | North America |  |  | South America |  |  | EMEA |  |  | Balance as of June 30, 2023 |
|  | ($ in thousands) |
Assets allocated |  |  |  |  |  |  |  |  |  |  |  |
Contracted concessional, PP&E and other intangible assets |  |  | 3,118,246 |  |  |  | 1,211,152 |  |  |  | 2,993,403 |  |  |  | 7,322,801 |
Investments carried under the equity method |  |  | 198,609 |  |  |  | 8,110 |  |  |  | 48,828 |  |  |  | 255,547 |
Other current financial assets |  |  | 98,183 |  |  |  | 31,059 |  |  |  | 46,800 |  |  |  | 176,042 |
Cash and cash equivalents (project companies) |  |  | 146,241 |  |  |  | 100,498 |  |  |  | 166,102 |  |  |  | 412,841 |
Subtotal allocated |  |  | 3,561,279 |  |  |  | 1,350,819 |  |  |  | 3,255,133 |  |  |  | 8,167,231 |
Unallocated assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 338,271 |
Other current assets (including cash and cash equivalents at holding company level) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 392,083 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 730,354 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,897,585 |
|  | North America |  |  | South America |  |  | EMEA |  |  | Balance as of June 30, 2023 |
|  | ($ in thousands) |
Liabilities allocated |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term project debt |  |  | 1,684,666 |  |  |  | 826,638 |  |  |  | 1,926,957 |  |  |  | 4,438,261 |
Grants and other liabilities |  |  | 967,780 |  |  |  | 27,512 |  |  |  | 229,854 |  |  |  | 1,225,146 |
Subtotal allocated |  |  | 2,652,446 |  |  |  | 854,150 |  |  |  | 2,156,811 |  |  |  | 5,663,407 |
Unallocated liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term corporate debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,051,193 |
Other non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 292,700 |
Other current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 182,524 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,526,417 |
Total liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,189,824 |
Equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,707,761 |
Total liabilities and equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,234,178 |
Total liabilities and equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,897,585 |
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 June 30, 2023:
|  | Renewable energy |  |  | Efficient natural gas & heat |  |  | Transmission lines |  |  | Water |  |  | Balance as of June 30, 2023 |
|  | ($ in thousands) |
Assets allocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracted concessional assets, PP&E and other intangible assets |  |  | 5,894,092 |  |  |  | 478,281 |  |  |  | 783,910 |  |  |  | 166,518 |  |  |  | 7,322,801 |
Investments carried under the equity method |  |  | 193,293 |  |  |  | 11,928 |  |  |  | 4,394 |  |  |  | 45,932 |  |  |  | 255,547 |
Other current financial assets |  |  | 8,339 |  |  |  | 92,092 |  |  |  | 30,662 |  |  |  | 44,949 |  |  |  | 176,042 |
Cash and cash equivalents (project companies) |  |  | 293,016 |  |  |  | 41,066 |  |  |  | 52,153 |  |  |  | 26,606 |  |  |  | 412,841 |
Subtotal allocated |  |  | 6,388,740 |  |  |  | 623,367 |  |  |  | 871,119 |  |  |  | 284,005 |  |  |  | 8,167,231 |
Unallocated assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 338,271 |
Other current assets (including cash and cash equivalents at holding company level) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 392,083 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 730,354 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,897,585 |
|  | Renewable energy |  |  | Efficient natural gas & Heat |  |  | Transmission lines |  |  | Water |  |  | Balance as of June 30, 2023 |
Liabilities allocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term project debt |  |  | 3,361,848 |  |  |  | 422,702 |  |  |  | 571,993 |  |  |  | 81,718 |  |  |  | 4,438,261 |
Grants and other liabilities |  |  | 1,184,601 |  |  |  | 32,239 |  |  |  | 5,814 |  |  |  | 2,492 |  |  |  | 1,225,146 |
Subtotal allocated |  |  | 4,546,449 |  |  |  | 454,941 |  |  |  | 577,807 |  |  |  | 84,210 |  |  |  | 5,663,407 |
Unallocated liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term corporate debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,051,193 |
Other non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 292,700 |
Other current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 182,524 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,526,417 |
Total liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,189,824 |
Equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,707,761 |
Total liabilities and equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,234,178 |
Total liabilities and equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,897,585 |
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 six-month periods ended June 30, 2023 and 2022 are as follows:
|  | For the six-month period ended June 30, |
Depreciation, amortization and impairment by geography |  | 2023 |  |  | 2022 |
|  | ($ in thousands) |
North America |  |  | (70,634 | ) |  |  | (79,207 | )
South America |  |  | (30,014 | ) |  |  | (30,150 | )
EMEA |  |  | (106,470 | ) |  |  | (108,452 | )
Total |  |  | (207,118 | ) |  |  | (217,809 | )
|  | For the six-month period ended June 30, |
Depreciation, amortization and impairment by business sectors |  | 2023 |  |  | 2022 |
|  | ($ in thousands) |
Renewable energy |  |  | (189,792 | ) |  |  | (188,524 | )
Efficient natural gas & heat |  |  | (3,770 | ) |  |  | (11,257 | )
Transmission lines |  |  | (14,079 | ) |  |  | (16,794 | )
Water |  |  | 523 |  |  |  | (1,234 | )
Total |  |  | (207,118 | ) |  |  | (217,809 | )

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