Dear readers,
What was debated only a few decades ago is now a reality with clearly visible effects across the globe. Despite some encouraging news about the slowdown in greenhouse gas emissions, changes in climate are already a constant that we will have to live with in the coming decades.
According to the World Economic Forum, extreme weather events and critical changes in earth systems have become one of the major global concerns of the decade. The year 2023 closed as the hottest year on record. Human history is filled with challenges and lessons, where technology has played a crucial role. Recognising the threats, we are developing and applying transformative solutions at an impressive pace. The expansion of renewable energy is facilitating the development and growth of new technologies and businesses, such as battery storage, new energy vectors or the modernization of clean road transport.
These are just some of the first initiatives that will create a series of cascading effects having a positive impact on global emissions and contributing substantially to the modernization of the economy.
We believe that, in this accelerated transformation, agility and consistency of vision will be key. Our business strategy, closely aligned with global trends, places ACCIONA in a privileged position to respond to today's demands, consolidating its position as the world's most complete provider of sustainable infrastructure solutions.
Positive balance
at the end of the year
ACCIONA achieved revenues of 17,021 million euros, EBITDA of almost 2,000 million euros and net profit of 541 million euros in 2023. We have made net investments totalling 3,327 million euros, bringing the Net Debt to EBITDA ratio to 3.3 times.
2023 was a year of significant achievements for ACCIONA, marked mainly by three milestones. Firstly, we set an all-time record in infrastructure contracting, with 9.4 billion euros awarded and 34 billion euros in the infrastructure backlog. Secondly, we achieved a record in new megawatts of renewable generation installed in a single financial year, adding 1,700 MW. And third, the change in Nordex's economic and financial trend, returning to positive EBITDA figures after complicated years for this industry.
ACCIONA achieved revenues of 17,021 million euros, EBITDA of almost 2,000 million euros and net profit of 541 million euros in 2023.
Positive contribution
and robust balance sheet
Throughout our history, ACCIONA has demonstrated our ability to adapt to change, always with the aim of driving the transformation of economic models towards more sustainable development, as demonstrated by our results.
Commitment to sustainability
Our investments are 99% aligned with the European Taxonomy of Sustainable Activities, reflecting our commitment to sustainability. This positive impact is evidenced by 79% of our gross corporate debt being green or sustainability-linked. Clean electricity generation has avoided the emission of 13.6 million tonnes of CO2 this year. In addition, we continue to promote the development of water resilience. In total, 1,190 hm³ of water was treated this year, 47% of which was in water-stressed countries.
Social contribution
ACCIONA continues to stand out for its contribution to the creation of wealth for society as a whole, which we call social cash flow. In 2023, this flow reached 19,407 million euros, 59% more than in 2022. This figure was mainly distributed in payments to suppliers amounting to 12,453 million euros, 2,056 million euros in tax contributions, up 36% compared to 2022, and 1,943 million euros in wages and salaries, 42% more than in the previous year.
Robust financial strategy
On the financial front, ACCIONA continues to increase the number of concession assets in various sectors - including energy, infrastructure and water - enabling recurring and predictable cash flows in the medium and long term. In 2023, more than 86% of our accumulated capital (11,394 million euros) was allocated to businesses such as renewable generation, infrastructure concessions (transport, social and water) and real estate. This capital allocation strategy reflects our focus on stable, low-risk investments that support sustainable growth and lasting value creation.
Opportunities in a new sector
The decarbonisation of the economy is already underway and ACCIONA will continue to contribute to accelerating this process. However, we must still face the impacts and consequences of global warming. Our business model, focused on clean energy and sustainable solutions such as regenerative infrastructure and low-emission transport, is now more necessary than ever.
Globally, investment in zero-carbon technologies already far outpaces investment in fossil fuels. And while we are at a crossroads of climate policy urgencies and the effects of global warming, exponential investment in decarbonisation offers hope of reversing this trend.
The decarbonisation of the economy is already underway and ACCIONA will continue to contribute to accelerating this process.
Ahead of us lie years that, far from being quiet, will be full of transformations. These promise to be challenging, but also full of opportunities. ACCIONA, thanks to its unique business model, has managed to stay at the forefront of change, growing and taking advantage of transformative opportunities.
Let me conclude by remembering the work of all those who have contributed to our progress over the years, and especially our late Luis Castilla, whose legacy of experience, talent and charisma lives on. I am confident that together we will continue to work towards a more sustainable future, contributing to the continued success of our company for decades to come.