v3.24.1.u1

Financial information by segment (Tables) | 3 Months Ended
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Mar. 31, 2024
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 segment and business sector for the three-month periods ended March 31, 2024 and 2023:
|  | Revenue |  |  | Adjusted EBITDA |
|  | For the three-month period ended March 31, |  |  | For the three-month period ended March 31, |
|  | ($ in thousands) |
Geography |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
North America |  |  | 86,232 |  |  |  | 72,840 |  |  |  | 55,026 |  |  |  | 51,969 |
South America |  |  | 44,678 |  |  |  | 43,720 |  |  |  | 34,568 |  |  |  | 33,788 |
EMEA |  |  | 112,023 |  |  |  | 125,949 |  |  |  | 74,625 |  |  |  | 88,447 |
Total |  |  | 242,933 |  |  |  | 242,509 |  |  |  | 164,219 |  |  |  | 174,204 |
|  | Revenue |  |  | Adjusted EBITDA |
|  | For the three-month period ended March 31, |  |  | For the three-month period ended March 31, |
|  | ($ in thousands) |
Business sectors |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Renewable energy |  |  | 162,211 |  |  |  | 172,601 |  |  |  | 107,250 |  |  |  | 119,122 |
Efficient natural gas & heat |  |  | 35,970 |  |  |  | 27,403 |  |  |  | 23,287 |  |  |  | 22,610 |
Transmission lines |  |  | 30,486 |  |  |  | 28,831 |  |  |  | 24,827 |  |  |  | 23,470 |
Water |  |  | 14,266 |  |  |  | 13,674 |  |  |  | 8,855 |  |  |  | 9,002 |
Total |  |  | 242,933 |  |  |  | 242,509 |  |  |  | 164,219 |  |  |  | 174,204 |
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) |
|  | 2024 |  |  | 2023 |
Loss attributable to the Company |  |  | (5,392 | ) |  |  | (10,990 | )
Profit attributable to non-controlling interest |  |  | 6 |  |  |  | 5,017 |
Income tax |  |  | (22,620 | ) |  |  | (9,656 | )
Financial expense, net |  |  | 79,626 |  |  |  | 80,434 |
Depreciation, amortization, and impairment charges |  |  | 107,036 |  |  |  | 103,790 |
Depreciation and amortization, financial expense and income tax expense of unconsolidated affiliates (pro rata of Atlantica’s equity ownership) |  |  | 5,563 |  |  |  | 5,609 |
Total segment Adjusted EBITDA |  |  | 164,219 |  |  |  | 174,204 |
Assets and liabilities by geography |
b) | The assets and liabilities by operating segment and business sector as of March 31, 2024, and December 31, 2023 are as follows:
Assets and liabilities by geography as of March 31, 2024:
|  | North America |  |  | South America |  |  | EMEA |  |  | Balance as of March 31, 2024 |
|  | ($ in thousands) |
Assets allocated |  |  |  |  |  |  |  |  |  |  |  |
Contracted concessional, PP&E and other intangible assets |  |  | 3,027,765 |  |  |  | 1,175,129 |  |  |  | 2,910,483 |  |  |  | 7,113,377 |
Investments carried under the equity method |  |  | 171,879 |  |  |  | 8,569 |  |  |  | 45,284 |  |  |  | 225,732 |
Other current financial assets |  |  | 112,351 |  |  |  | 31,001 |  |  |  | 47,134 |  |  |  | 190,486 |
Cash and cash equivalents (project companies) |  |  | 123,539 |  |  |  | 125,443 |  |  |  | 155,361 |  |  |  | 404,343 |
Assets held for sale |  |  | 29,136 |  |  |  | - |  |  |  | - |  |  |  | 29,136 |
Subtotal allocated |  |  | 3,464,670 |  |  |  | 1,340,142 |  |  |  | 3,158,262 |  |  |  | 7,963,074 |
Unallocated assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 333,300 |
Other current assets (including cash and cash equivalents at holding company level) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 412,668 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 745,968 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,709,042 |
|  | North America |  |  | South America |  |  | EMEA |  |  | Balance as of March 31, 2024 |
|  | ($ in thousands) |
Liabilities allocated |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term project debt |  |  | 1,635,455 |  |  |  | 808,991 |  |  |  | 1,856,682 |  |  |  | 4,301,128 |
Grants and other liabilities |  |  | 932,301 |  |  |  | 36,108 |  |  |  | 241,781 |  |  |  | 1,210,190 |
Subtotal allocated |  |  | 2,567,756 |  |  |  | 845,099 |  |  |  | 2,098,463 |  |  |  | 5,511,318 |
Unallocated liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term corporate debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,173,680 |
Other non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 293,098 |
Other current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 192,124 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,658,902 |
Total liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,170,220 |
Equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,538,822 |
Total liabilities and equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,197,724 |
Total liabilities and equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,709,042 |
Assets and liabilities by geography as of December 31, 2023:
|  | North America |  |  | South America |  |  | EMEA |  |  | Balance as of December 31, 2023 |
Assets allocated |  |  |  |  |  |  |  |  |  |  |  |
Contracted concessional, PP&E and other intangible assets |  |  | 3,063,019 |  |  |  | 1,184,599 |  |  |  | 2,956,649 |  |  |  | 7,204,267 |
Investments carried under the equity method |  |  | 177,260 |  |  |  | 9,178 |  |  |  | 43,869 |  |  |  | 230,307 |
Other current financial assets |  |  | 110,016 |  |  |  | 30,803 |  |  |  | 48,067 |  |  |  | 188,886 |
Cash and cash equivalents (project companies) |  |  | 137,480 |  |  |  | 121,945 |  |  |  | 155,551 |  |  |  | 414,976 |
Assets held for sale |  |  | 28,642 |  |  |  | - |  |  |  | - |  |  |  | 28,642 |
Subtotal allocated |  |  | 3,516,417 |  |  |  | 1,346,525 |  |  |  | 3,204,136 |  |  |  | 8,067,078 |
Unallocated assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 297,577 |
Other current assets (including cash and cash equivalents at holding company level) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 349,678 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 647,255 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,714,333 |
|  | North America |  |  | South America |  |  | EMEA |  |  | Balance as of December 31, 2023 |
Liabilities allocated |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term project debt |  |  | 1,629,278 |  |  |  | 808,481 |  |  |  | 1,881,501 |  |  |  | 4,319,260 |
Grants and other liabilities |  |  | 945,888 |  |  |  | 36,307 |  |  |  | 251,613 |  |  |  | 1,233,808 |
Subtotal allocated |  |  | 2,575,166 |  |  |  | 844,788 |  |  |  | 2,133,114 |  |  |  | 5,553,068 |
Unallocated liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term corporate debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,084,838 |
Other non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 301,245 |
Other current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 186,373 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,572,456 |
Total liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,125,524 |
Equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,588,809 |
Total liabilities and equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,161,265 |
Total liabilities and equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,714,333 |
Assets and liabilities by business sector | Assets and liabilities by business sector as of March 31, 2024:
|  | Renewable energy |  |  | Efficient natural gas & heat |  |  | Transmission lines |  |  | Water |  |  | Balance as of March 31, 2024 |
|  | ($ in thousands) |
Assets allocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracted concessional assets, PP&E and other intangible assets |  |  | 5,729,867 |  |  |  | 446,626 |  |  |  | 771,363 |  |  |  | 165,521 |  |  |  | 7,113,377 |
Investments carried under the equity method |  |  | 183,870 |  |  |  | - |  |  |  | - |  |  |  | 41,862 |  |  |  | 225,732 |
Other current financial assets |  |  | 9,209 |  |  |  | 108,167 |  |  |  | 30,950 |  |  |  | 42,160 |  |  |  | 190,486 |
Cash and cash equivalents (project companies) |  |  | 286,002 |  |  |  | 25,617 |  |  |  | 67,893 |  |  |  | 24,831 |  |  |  | 404,343 |
Assets held for sale |  |  | - |  |  |  | 29,136 |  |  |  | - |  |  |  | - |  |  |  | 29,136 |
Subtotal allocated |  |  | 6,208,948 |  |  |  | 609,546 |  |  |  | 870,206 |  |  |  | 274,374 |  |  |  | 7,963,074 |
Unallocated assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 333,300 |
Other current assets (including cash and cash equivalents at holding company level) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 412,668 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 745,968 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,709,042 |
|  | Renewable energy |  |  | Efficient natural gas & Heat |  |  | Transmission lines |  |  | Water |  |  | Balance as of March 31, 2024 |
Liabilities allocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term project debt |  |  | 3,270,473 |  |  |  | 392,364 |  |  |  | 566,387 |  |  |  | 71,904 |  |  |  | 4,301,128 |
Grants and other liabilities |  |  | 1,161,838 |  |  |  | 32,630 |  |  |  | 13,226 |  |  |  | 2,497 |  |  |  | 1,210,190 |
Subtotal allocated |  |  | 4,432,311 |  |  |  | 424,994 |  |  |  | 579,613 |  |  |  | 74,401 |  |  |  | 5,511,318 |
Unallocated liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term corporate debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,173,680 |
Other non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 293,098 |
Other current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 192,124 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,658,902 |
Total liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,170,220 |
Equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,538,822 |
Total liabilities and equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,197,724 |
Total liabilities and equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,709,042 |
Assets and liabilities by business sector as of December 31, 2023:
|  | Renewable energy |  |  | Efficient natural gas & heat |  |  | Transmission lines |  |  | Water |  |  | Balance as of December 31, 2023 |
Assets allocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracted concessional, PP&E and other intangible assets |  |  | 5,798,818 |  |  |  | 460,766 |  |  |  | 777,360 |  |  |  | 167,323 |  |  |  | 7,204,267 |
Investments carried under the equity method |  |  | 189,672 |  |  |  | - |  |  |  | - |  |  |  | 40,635 |  |  |  | 230,307 |
Other current financial assets |  |  | 10,866 |  |  |  | 103,907 |  |  |  | 30,746 |  |  |  | 43,367 |  |  |  | 188,886 |
Cash and cash equivalents (project companies) |  |  | 299,987 |  |  |  | 35,098 |  |  |  | 58,004 |  |  |  | 21,887 |  |  |  | 414,976 |
Assets held for sale |  |  | - |  |  |  | 28,642 |  |  |  | - |  |  |  | - |  |  |  | 28,642 |
Subtotal allocated |  |  | 6,299,343 |  |  |  | 628,413 |  |  |  | 866,110 |  |  |  | 273,212 |  |  |  | 8,067,078 |
Unallocated assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 297,577 |
Other current assets (including cash and cash equivalents at holding company level) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 349,678 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 647,255 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,714,333 |
|  | Renewable energy |  |  | Efficient natural gas & heat |  |  | Transmission lines |  |  | Water |  |  | Balance as of December 31, 2023 |
Liabilities allocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term project debt |  |  | 3,280,618 |  |  |  | 401,460 |  |  |  | 560,906 |  |  |  | 76,276 |  |  |  | 4,319,260 |
Grants and other liabilities |  |  | 1,185,487 |  |  |  | 32,916 |  |  |  | 12,884 |  |  |  | 2,521 |  |  |  | 1,233,808 |
Subtotal allocated |  |  | 4,466,105 |  |  |  | 434,376 |  |  |  | 573,790 |  |  |  | 78,797 |  |  |  | 5,553,068 |
Unallocated liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term corporate debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,084,838 |
Other non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 301,245 |
Other current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 186,373 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,572,456 |
Total liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,125,524 |
Equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,588,809 |
Total liabilities and equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,161,265 |
Total liabilities and equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,714,333 |
Depreciation, amortization and impairment charges recognized |
c) | The amount of depreciation, amortization and impairment charges recognized for the three-month periods ended March 31, 2024 and 2023 are as follows:
|  | For the three-month period ended March 31, |
Depreciation, amortization and impairment by geography |  | 2024 |  |  | 2023 |
|  | ($ in thousands) |
North America |  |  | (38,209 | ) |  |  | (36,347 | )
South America |  |  | (15,819 | ) |  |  | (14,203 | )
EMEA |  |  | (53,008 | ) |  |  | (53,240 | )
Total |  |  | (107,036 | ) |  |  | (103,790 | )
|  | For the three-month period ended March 31, |
Depreciation, amortization and impairment by business sectors |  | 2024 |  |  | 2023 |
|  | ($ in thousands) |
Renewable energy |  |  | (96,476 | ) |  |  | (93,248 | )
Efficient natural gas & heat |  |  | (3,696 | ) |  |  | (3,054 | )
Transmission lines |  |  | (7,517 | ) |  |  | (7,223 | )
Water |  |  | 653 |  |  |  | (265 | )
Total |  |  | (107,036 | ) |  |  | (103,790 | )

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