v3.24.3

Financial information by segment (Tables) | 9 Months Ended
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Sep. 30, 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 nine-month periods ended September 30, 2024 and 2023:
|  | Revenue |  |  | Adjusted EBITDA |
|  | For the nine-month period ended September 30, |  |  | For the nine-month period ended September 30, |
|  | ($ in thousands) |
Geography |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
North America |  |  | 372,143 |  |  |  | 338,745 |  |  |  | 279,708 |  |  |  | 260,684 |
South America |  |  | 140,779 |  |  |  | 140,269 |  |  |  | 108,406 |  |  |  | 112,049 |
EMEA |  |  | 405,822 |  |  |  | 379,569 |  |  |  | 269,427 |  |  |  | 254,548 |
Total |  |  | 918,744 |  |  |  | 858,583 |  |  |  | 657,541 |  |  |  | 627,281 |
|  | Revenue |  |  | Adjusted EBITDA |
|  | For the nine-month period ended September 30, |  |  | For the nine-month period ended September 30, |
|  | ($ in thousands) |
Business sectors |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Renewable energy |  |  | 675,657 |  |  |  | 640,117 |  |  |  | 476,872 |  |  |  | 460,442 |
Efficient natural gas & heat |  |  | 107,344 |  |  |  | 84,974 |  |  |  | 79,515 |  |  |  | 66,526 |
Transmission lines |  |  | 92,732 |  |  |  | 91,825 |  |  |  | 74,652 |  |  |  | 73,256 |
Water |  |  | 43,011 |  |  |  | 41,667 |  |  |  | 26,502 |  |  |  | 27,057 |
Total |  |  | 918,744 |  |  |  | 858,583 |  |  |  | 657,541 |  |  |  | 627,281 |
The reconciliation of segment Adjusted EBITDA with the profit attributable to the Company is as follows:
|  | For the nine-month period ended September 30, ($ in thousands) |
|  | 2024 |  |  | 2023 |
Profit attributable to the Company |  |  | 32,676 |  |  |  | 46,050 |
Profit attributable to non-controlling interest |  |  | 6,482 |  |  |  | 2,846 |
Income tax |  |  | 28,919 |  |  |  | 11,587 |
Financial expense, net |  |  | 254,710 |  |  |  | 237,924 |
Depreciation, amortization, and impairment charges |  |  | 325,578 |  |  |  | 310,502 |
Depreciation and amortization, financial expense and income tax expense of unconsolidated affiliates (pro rata of Atlantica’s equity ownership) |  |  | 9,176 |  |  |  | 18,372 |
Total segment Adjusted EBITDA |  |  | 657,541 |  |  |  | 627,281 |
Assets and liabilities by geography |
b) | The assets and liabilities by operating segment and business sector as of September 30, 2024, and December 31, 2023 are as follows:
Assets and liabilities by geography as of September 30, 2024:
|  | North America |  |  | South America |  |  | EMEA |  |  | Balance as of September 30, 2024 |
|  | ($ in thousands) |
Assets allocated |  |  |  |  |  |  |  |  |  |  |  |
Contracted concessional, PP&E and other intangible assets |  |  | 3,014,170 |  |  |  | 1,129,109 |  |  |  | 2,907,790 |  |  |  | 7,051,069 |
Investments carried under the equity method |  |  | 162,142 |  |  |  | 5,154 |  |  |  | 44,756 |  |  |  | 212,052 |
Other current financial assets |  |  | 122,562 |  |  |  | 32,941 |  |  |  | 46,490 |  |  |  | 201,993 |
Cash and cash equivalents (project companies) |  |  | 177,961 |  |  |  | 98,883 |  |  |  | 138,092 |  |  |  | 414,936 |
Assets held for sale |  |  | 2,000 |  |  |  | 39,242 |  |  |  | - |  |  |  | 41,242 |
Subtotal allocated |  |  | 3,478,835 |  |  |  | 1,305,329 |  |  |  | 3,137,128 |  |  |  | 7,921,292 |
Unallocated assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 290,655 |
Other current assets (including cash and cash equivalents at holding company level) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 378,487 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 669,142 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,590,434 |
|  | North America |  |  | South America |  |  | EMEA |  |  | Balance as of September 30, 2024 |
|  | ($ in thousands) |
Liabilities allocated |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term project debt |  |  | 1,602,854 |  |  |  | 743,538 |  |  |  | 1,901,951 |  |  |  | 4,248,343 |
Grants and other liabilities |  |  | 908,210 |  |  |  | 34,333 |  |  |  | 186,698 |  |  |  | 1,129,241 |
Liabilities directly associated with the assets held for sale |  |  | - |  |  |  | 53,723 |  |  |  | - |  |  |  | 53,723 |
Subtotal allocated |  |  | 2,511,064 |  |  |  | 831,594 |  |  |  | 2,088,649 |  |  |  | 5,431,307 |
Unallocated liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term corporate debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,204,616 |
Other non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 331,772 |
Other current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 177,948 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,714,336 |
Total liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,145,643 |
Equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,444,791 |
Total liabilities and equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,159,127 |
Total liabilities and equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,590,434 |
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 September 30, 2024:
|  | Renewable energy |  |  | Efficient natural gas & heat |  |  | Transmission lines |  |  | Water |  |  | Balance as of September 30, 2024 |
|  | ($ in thousands) |
Assets allocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracted concessional assets, PP&E and other intangible assets |  |  | 5,681,520 |  |  |  | 430,289 |  |  |  | 768,013 |  |  |  | 171,247 |  |  |  | 7,051,069 |
Investments carried under the equity method |  |  | 171,246 |  |  |  | - |  |  |  | - |  |  |  | 40,806 |  |  |  | 212,052 |
Other current financial assets |  |  | 5,033 |  |  |  | 121,997 |  |  |  | 31,064 |  |  |  | 43,899 |  |  |  | 201,993 |
Cash and cash equivalents (project companies) |  |  | 304,718 |  |  |  | 31,022 |  |  |  | 65,650 |  |  |  | 13,546 |  |  |  | 414,936 |
Assets held for sale |  |  | 41,242 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 41,242 |
Subtotal allocated |  |  | 6,203,759 |  |  |  | 583,308 |  |  |  | 864,727 |  |  |  | 269,498 |  |  |  | 7,921,292 |
Unallocated assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 290,655 |
Other current assets (including cash and cash equivalents at holding company level) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 378,487 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 669,142 |
Total assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,590,434 |
|  | Renewable energy |  |  | Efficient natural gas & Heat |  |  | Transmission lines |  |  | Water |  |  | Balance as of September 30, 2024 |
Liabilities allocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term project debt |  |  | 3,250,365 |  |  |  | 374,393 |  |  |  | 555,282 |  |  |  | 68,303 |  |  |  | 4,248,343 |
Grants and other liabilities |  |  | 1,080,095 |  |  |  | 33,632 |  |  |  | 12,925 |  |  |  | 2,589 |  |  |  | 1,129,241 |
Liabilities directly associated with the assets held for sale |  |  | 53,723 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 53,723 |
Subtotal allocated |  |  | 4,384,183 |  |  |  | 408,025 |  |  |  | 568,207 |  |  |  | 70,892 |  |  |  | 5,431,307 |
Unallocated liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term and short-term corporate debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,204,616 |
Other non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 331,772 |
Other current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 177,948 |
Subtotal unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,714,336 |
Total liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,145,643 |
Equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,444,791 |
Total liabilities and equity unallocated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,159,127 |
Total liabilities and equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,590,434 |
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 nine-month periods ended September 30, 2024 and 2023 are as follows:
|  | For the nine-month period ended September 30, |
Depreciation, amortization and impairment by geography |  | 2024 |  |  | 2023 |
|  | ($ in thousands) |
North America |  |  | (100,022 | ) |  |  | (103,001 | )
South America |  |  | (60,449 | ) |  |  | (46,278 | )
EMEA |  |  | (165,107 | ) |  |  | (161,223 | )
Total |  |  | (325,578 | ) |  |  | (310,502 | )
|  | For the nine-month period ended September 30, |
Depreciation, amortization and impairment by business sectors |  | 2024 |  |  | 2023 |
|  | ($ in thousands) |
Renewable energy |  |  | (306,923 | ) |  |  | (286,611 | )
Efficient natural gas & heat |  |  | 3,759 |  |  |  | (2,196 | )
Transmission lines |  |  | (23,107 | ) |  |  | (22,033 | )
Water |  |  | 693 |  |  |  | 338 |
Total |  |  | (325,578 | ) |  |  | (310,502 | )

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