Financial information by segment (Tables)
|
9 Months Ended |
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
|
)
|
|