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PREVIEW-Acciona set for 15 pct rise in 9mth earnings

MADRID, Nov 12 (Reuters) - Spanish conglomerate Acciona is expected to post a 15 percent increase in core earnings on Monday after markets close, as solid growth at the group's energy business offsets weakness in other areas. Higher electricity prices and high load factors for windfarms in Acciona's main Spanish market should give momentum to the group's conversion from construction firm to energy group. Acciona's services division and its private equity interest Bestinver should also also post positive figures, offsetting weakness in construction, real estate and transport, all hit by Spain's slow recovery from recession. Acciona is holding a conference call on at 1700 GMT on Monday, where it is likely to face investor questions about uncertainty over subsidies for renewable energy in Spain and the United States, as well as the outlook for Spain's beleagured property market. Acciona's nine month earnings before interest, taxes, depreciation and amortisation are expected to come in at 821 million euros ($1.12 billion), compared to 712 million a year earlier, according to an average of eight analysts' estimates. Net profit is expected to come in at 112 million euros, with the year-earlier comparison distorted by one time gains posted in 2009. Following is a break-down of forecasts (simple average in millions of euros): 9mth2010 Q12009 PCT CHANGE RANGE EBITDA 821 712 15% 793-883 Net profit 112 1,231 -91% 90-153 Contributors: Citigroup, Exane, Intermoney, UBS, CSFB, Mirabaud, Caja Madrid and an analyst who asked not to be named. (Reporting by Jonathan Gleave, editing by Jane Merriman) ($1=.7332 Euro) Keywords: ACCIONA RESULTS/ (jonathan.gleave@thomsonreuters.com; +34 91 585 2159; Reuters Messaging: jonathan.gleave.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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