Aankondiging • Aug 06
Acciona, S.A. has completed a Follow-on Equity Offering in the amount of €359.535 million. Acciona, S.A. has completed a Follow-on Equity Offering in the amount of €359.535 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,650,000
Price\Range: €217.9
Transaction Features: Regulation S; Rule 144A Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €215, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 15x in the Electric Utilities industry in Europe. Total returns to shareholders of 75% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €181 per share. Aankondiging • Aug 05
Acciona, S.A. has filed a Follow-on Equity Offering. Acciona, S.A. has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,650,000
Transaction Features: Regulation S; Rule 144A Reported Earnings • Aug 04
First half 2026 earnings released: EPS: €1.54 (vs €9.66 in 1H 2025) First half 2026 results: EPS: €1.54 (down from €9.66 in 1H 2025). Revenue: €10.7b (up 4.0% from 1H 2025). Net income: €83.0m (down 84% from 1H 2025). Profit margin: 0.8% (down from 5.1% in 1H 2025). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 5.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Earnings are forecast to decline by an average of 2.9% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (5.2% average weekly change). Large one-off items impacting financial results. Aankondiging • Jul 10
Acciona, S.A. (BME:ANA) agreed to acquire 80% stake in Johnson Landscape, Inc (Vertical Earth). Acciona, S.A. (BME:ANA) agreed to acquire 80% stake in Johnson Landscape, Inc.(Vertical Earth) on July 8, 2026.
For the period ending December 31, 2025, Johnson Landscape, Inc. reported total revenue of $217 million.
The transaction is subject to approval by regulatory board / committee. The expected completion of the transaction is before year end. The company's founder and CEO, Brett Johnson, will retain a 20% stake and continue to lead the business. Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. Lead Independent Director Maria Madrinan was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jun 30
Upcoming dividend of €4.58 per share Eligible shareholders must have bought the stock before 07 July 2026. Payment date: 09 July 2026. Payout ratio is a comfortable 38% and the cash payout ratio is 81%. Trailing yield: 2.0%. Lower than top quartile of Austrian dividend payers (4.1%). Lower than average of industry peers (3.6%). Declared Dividend • Jun 01
Dividend of €4.58 announced Shareholders will receive a dividend of €4.58. Ex-date: 7th July 2026 Payment date: 9th July 2026 Dividend yield will be 1.9%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (38% earnings payout ratio) and cash flows (81% cash payout ratio). The dividend has increased by an average of 8.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 28% over the next 3 years. However, it would need to fall by 57% to increase the payout ratio to a potentially unsustainable range. Aankondiging • May 15
Acciona, S.A., Annual General Meeting, Jun 24, 2026 Acciona, S.A., Annual General Meeting, Jun 24, 2026. Location: campus acciona, avenida de la gran via de hortaleza 3, madrid., Spain New Risk • Mar 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 79% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Reported Earnings • Feb 28
Full year 2025 earnings released Full year 2025 results: Revenue: €22.2b (up 6.3% from FY 2024). Net income: €803.0m (up 90% from FY 2024). Profit margin: 3.6% (up from 2.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 3.5% growth forecast for the Electric Utilities industry in Europe. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to €248, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 15x in the Electric Utilities industry in Europe. Total returns to shareholders of 52% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €139 per share. Aankondiging • Feb 18
Acciona, S.A. to Report Fiscal Year 2025 Results on Feb 26, 2026 Acciona, S.A. announced that they will report fiscal year 2025 results After-Market on Feb 26, 2026 Reported Earnings • Aug 01
First half 2025 earnings released: EPS: €9.66 (vs €2.13 in 1H 2024) First half 2025 results: EPS: €9.66 (up from €2.13 in 1H 2024). Revenue: €10.3b (up 8.6% from 1H 2024). Net income: €526.0m (up 353% from 1H 2024). Profit margin: 5.1% (up from 1.2% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.8% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 1.9%. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Declared Dividend • Jun 05
Dividend of €4.25 announced Shareholders will receive a dividend of €4.25. Ex-date: 8th July 2025 Payment date: 10th July 2025 Dividend yield will be 2.8%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (68% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 19% over the next 3 years. However, it would need to fall by 25% to increase the payout ratio to a potentially unsustainable range. Declared Dividend • May 18
Dividend of €4.25 announced Shareholders will receive a dividend of €4.25. Ex-date: 8th July 2025 Payment date: 10th July 2025 Dividend yield will be 3.2%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (68% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 13% over the next 3 years. However, it would need to fall by 25% to increase the payout ratio to a potentially unsustainable range. Aankondiging • May 15
Acciona, S.A., Annual General Meeting, Jun 25, 2025 Acciona, S.A., Annual General Meeting, Jun 25, 2025. Location: campus acciona, avenida de la gran via de hortaleza 3, madrid Spain Reported Earnings • Feb 28
Full year 2024 earnings released Full year 2024 results: Revenue: €20.9b (up 16% from FY 2023). Net income: €422.0m (down 22% from FY 2023). Profit margin: 2.0% (down from 3.0% in FY 2023). Revenue is expected to decline by 4.6% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 3.1%. New Risk • Feb 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 7.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 141% Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 7.1% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). Buy Or Sell Opportunity • Sep 06
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 8.2% to €129. The fair value is estimated to be €106, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to decline by 0.6% per annum. Earnings are forecast to grow by 13% per annum over the same time period. Reported Earnings • Aug 02
First half 2024 earnings released: EPS: €2.13 (vs €8.54 in 1H 2023) First half 2024 results: EPS: €2.13 (down from €8.54 in 1H 2023). Revenue: €9.45b (up 25% from 1H 2023). Net income: €116.0m (down 75% from 1H 2023). Profit margin: 1.2% (down from 6.2% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 1.8% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 3% per year. New Risk • Aug 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.0% Last year net profit margin: 5.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.5x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 140% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.0% net profit margin). New Risk • Jul 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 4.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Earnings are forecast to decline by an average of 6.7% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (4.3% average weekly change). Large one-off items impacting financial results. Aankondiging • May 12
Acciona, S.A., Annual General Meeting, Jun 19, 2024 Acciona, S.A., Annual General Meeting, Jun 19, 2024. Location: campus acciona, avenida de la gran via de hortaleza 3, madrid, Spain Buy Or Sell Opportunity • May 03
Now 22% overvalued Over the last 90 days, the stock has fallen 4.2% to €115. The fair value is estimated to be €94.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to decline by 1.0% per annum. Earnings are also forecast to decline by 7.7% per annum over the same time period. New Risk • Mar 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 87% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Share price has been highly volatile over the past 3 months (5.8% average weekly change). Earnings are forecast to decline by an average of 4.8% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Buy Or Sell Opportunity • Mar 15
Now 21% overvalued Over the last 90 days, the stock has fallen 15% to €115. The fair value is estimated to be €94.97, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to decline by 2.5% per annum. Earnings are also forecast to decline by 4.8% per annum over the same time period. New Risk • Mar 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings are forecast to decline by an average of 5.0% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Mar 03
Full year 2023 earnings released: EPS: €9.89 (vs €8.06 in FY 2022) Full year 2023 results: EPS: €9.89 (up from €8.06 in FY 2022). Revenue: €18.0b (up 47% from FY 2022). Net income: €541.0m (up 23% from FY 2022). Profit margin: 3.0% (down from 3.6% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 13
Now 22% overvalued Over the last 90 days, the stock has fallen 14% to €114. The fair value is estimated to be €93.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 8.7% per annum. Earnings are forecast to decline by 6.1% per annum over the same time period. New Risk • Nov 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 3.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. High level of non-cash earnings (21% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (3.9% average weekly change). Reported Earnings • Jul 31
First half 2023 earnings released: EPS: €8.54 (vs €3.68 in 1H 2022) First half 2023 results: EPS: €8.54 (up from €3.68 in 1H 2022). Revenue: €7.58b (up 35% from 1H 2022). Net income: €467.0m (up 132% from 1H 2022). Profit margin: 6.2% (up from 3.6% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is expected to fall by 2.3% p.a. on average during the next 3 years compared to a 3.6% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. New Risk • Jul 30
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 11% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings are forecast to decline by an average of 11% per year for the foreseeable future. High level of non-cash earnings (21% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Upcoming Dividend • Jun 27
Upcoming dividend of €3.65 per share at 2.9% yield Eligible shareholders must have bought the stock before 04 July 2023. Payment date: 06 July 2023. Payout ratio is a comfortable 56% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Austrian dividend payers (5.4%). Lower than average of industry peers (5.0%). Aankondiging • Jun 14
Acciona, S.A. (BME:ANA) and Corporación Acciona Energías Renovables, S.A. (BME:ANE) acquired unknown majority stake in Solideo Eco Systems S.L. Acciona, S.A. (BME:ANA) and Corporación Acciona Energías Renovables, S.A. (BME:ANE) acquired unknown majority stake in Solideo Eco Systems S.L. on June 12, 2023.Acciona, S.A. (BME:ANA) and Corporación Acciona Energías Renovables, S.A. (BME:ANE) completed the acquisition of unknown majority stake in Solideo Eco Systems S.L. on June 12, 2023. Reported Earnings • Mar 02
Full year 2022 earnings released: EPS: €8.06 (vs €6.08 in FY 2021) Full year 2022 results: EPS: €8.06 (up from €6.08 in FY 2021). Revenue: €12.2b (up 41% from FY 2021). Net income: €441.0m (up 33% from FY 2021). Profit margin: 3.6% (down from 3.8% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 1.0% p.a. on average during the next 3 years compared to a 3.4% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 14% per year. Aankondiging • Feb 18
Acciona, S.A. to Report Fiscal Year 2022 Results on Feb 28, 2023 Acciona, S.A. announced that they will report fiscal year 2022 results at 5:30 PM, Romance Standard Time on Feb 28, 2023 Aankondiging • Jan 27
Acciona, S.A. (BME:ANA) reached an agreement to acquire an unknown stake in Renomar, Energías Renovables Mediterráneas, S.A. from Grupo Med Wind Energy, SL. Acciona, S.A. (BME:ANA) reached an agreement to acquire an unknown stake in Renomar, Energías Renovables Mediterráneas, S.A. from Grupo Med Wind Energy, SL on January 26, 2023. Reported Earnings • Jul 31
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €148.0m from profit in 1H 2021). Profit margin: (down from 3.8% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is forecast to decline by 13% while the industry in Austria is not expected to grow. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 28
Upcoming dividend of €3.32 per share Eligible shareholders must have bought the stock before 05 July 2022. Payment date: 07 July 2022. Payout ratio is a comfortable 67% but the company is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of Austrian dividend payers (5.1%). Lower than average of industry peers (4.5%). Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. Independent Director Maria Dolores Dancausa Trevino was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 16% share price gain to €162, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 86% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €94.75 per share. Reported Earnings • Feb 28
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €6.08 (down from €6.98 in FY 2020). Revenue: €8.33b (up 15% from FY 2020). Net income: €332.0m (down 13% from FY 2020). Profit margin: 4.0% (down from 5.2% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 8.2%. Over the next year, revenue is expected to shrink by 6.5% compared to a 5.9% growth forecast for the industry in Austria. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 18% per year. Aankondiging • Feb 16
Acciona, S.A. to Report Fiscal Year 2021 Results on Feb 24, 2022 Acciona, S.A. announced that they will report fiscal year 2021 results After-Market on Feb 24, 2022 Aankondiging • Feb 09
Acciona, S.A. to Report First Half, 2022 Results on Jul 28, 2022 Acciona, S.A. announced that they will report first half, 2022 results on Jul 28, 2022 Aankondiging • Jan 13
Acciona Reportedly Preparing to Sell Down 8% Acciona Energia Stake Acciona, S.A. (BME:ANA) is preparing to sell down 8% of its renewable energy subsidiary Corporación Acciona Energías Renovables, S.A. (BME:ANE) (Acciona Energia), in a deal that could fetch between €800 million ($906.9m) and €1 billion, Spanish finance newspaper Cinco Dias reported on January 12, 2022. The process is reportedly not imminent and could get underway in the form of an accelerated bookbuild on the public market in the coming months. Reported Earnings • Jul 31
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €2.01b (up 28% from 2Q 2020). Net income: €51.0m (up €106.8m from 2Q 2020). Profit margin: 2.5% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 28
Upcoming dividend of €3.16 per share Eligible shareholders must have bought the stock before 05 July 2021. Payment date: 07 July 2021. Trailing yield: 3.1%. Lower than top quartile of Austrian dividend payers (3.3%). Lower than average of industry peers (3.8%). Reported Earnings • May 12
First quarter 2021 earnings released: EPS €1.78 (vs €1.43 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: €1.71b (down 9.8% from 1Q 2020). Net income: €97.0m (up 24% from 1Q 2020). Profit margin: 5.7% (up from 4.1% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Mar 17
Ark Energy Corporation entered into an agreement to acquire 30% stake in MacIntyre Wind Farm in Queensland from Acciona, S.A. (BME:ANA) on March 16, 2021. Ark Energy Corporation entered into an agreement to acquire 30% stake in MacIntyre Wind Farm in Queensland from Acciona, S.A. (BME:ANA) on March 16, 2021.ACCIONA will own the remaining 70% of the project. ACCIONA will remain responsible for managing the project through its development, construction, operations and maintenance stages. In addition to the MacIntyre Wind Farm, ACCIONA will build the Karara Wind Farm (103MW), owned by CleanCo. The two projects will jointly mobilise investments of around AUD 2 billion will be key to the State of Queensland’s goal of achieving a 50% share of renewable energy in its electricity consumption by 2030. Reported Earnings • Feb 25
Full year 2020 earnings released: EPS €6.98 (vs €6.46 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €7.26b (down 7.8% from FY 2019). Net income: €380.3m (up 8.1% from FY 2019). Profit margin: 5.2% (up from 4.5% in FY 2019). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improved over the past week After last week's 17% share price gain to €144, the stock is trading at a trailing P/E ratio of 34.8x, up from the previous P/E ratio of 29.8x. This compares to an average P/E of 12x in the Electric Utilities industry in Europe. Total returns to shareholders over the past three years are 127%. Is New 90 Day High Low • Feb 19
New 90-day high: €138 The company is up 35% from its price of €102 on 20 November 2020. The Austrian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electric Utilities industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €180 per share. Aankondiging • Feb 17
ACCIONA and Plug Power Sign Memorandum of Understanding to Launch a Joint-Venture Headquartered in Madrid ACCIONA S.A. and Plug Power Inc. announced the signing of a memorandum of understanding (MOU) to launch a 50-50 joint-venture (JV) headquartered in Madrid. This JV will be a green hydrogen platform serving clients in Spain and Portugal, providing cost-efficient and competitive green hydrogen to multiple end markets. The parties expect the JV will develop, operate, and maintain green hydrogen projects, serving the growing demand in the Iberian Peninsula. The new company also plans to provide storage, transportation, and delivery services to its customers, initially targeting the industrial and the mobility business segments. The goal is to reach a 20% market share of the green hydrogen business in Spain and Portugal by 2030, which will entail an initially planned investment of over €2 billion. Plug Power will serve as the preferred supplier of electrolyzer technology to the JV, with ACCIONA as the preferred clean electricity provider. The JV will also use ACCIONA’s GreenH2Chain® blockchain platform to provide guarantees of renewable origin for the hydrogen supplied. ACCIONA and Plug Power have complementary strengths to create the leading green hydrogen platform in the Iberia Peninsula. The joint venture company is subject to definitive documentation and is expected to be launched by the end of the first half of 2021. The initial projects to be selected are already under development. The joint venture combines Plug Power’s technology and ACCIONA’s status as the largest 100% renewable power retailer in Spain. Aankondiging • Feb 12
Acciona, S.A. to Report Fiscal Year 2020 Results on Feb 18, 2021 Acciona, S.A. announced that they will report fiscal year 2020 results After-Market on Feb 18, 2021 Is New 90 Day High Low • Jan 27
New 90-day high: €133 The company is up 47% from its price of €90.30 on 28 October 2020. The Austrian market is up 37% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electric Utilities industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €122 per share. Aankondiging • Jan 22
Stoa Sa acquired 12.3% stake in Concessionaria Linha Universidade S.A from Acciona, S.A. (BME:ANA). Stoa Sa acquired 12.3% stake in Concessionaria Linha Universidade S.A from Acciona, S.A. (BME:ANA) on January 20, 2021. Stoa Sa has committed an equity investment in Concessionaria Linha Universidade of BRL 317 million which will be deployed during the construction period.
Stoa Sa completed the acqusition of 12.3% stake in Concessionaria Linha Universidade S.A from Acciona, S.A. (BME:ANA) on January 20, 2021. Is New 90 Day High Low • Jan 06
New 90-day high: €119 The company is up 22% from its price of €97.50 on 08 October 2020. The Austrian market is up 27% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Electric Utilities industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €103 per share. Is New 90 Day High Low • Dec 16
New 90-day high: €114 The company is up 12% from its price of €102 on 17 September 2020. The Austrian market is up 18% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Electric Utilities industry, which is also up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €54.08 per share. Aankondiging • Dec 01
Meridiam Infra Invest Fund, Meridiam Infrastructure Finance S.a.r.l. and BESTINVER S.A. entered into an agreement to acquire eight concession assets in Spain from Acciona, S.A. (BME:ANA) for approximately €480 million. Meridiam Infra Invest Fund, Meridiam Infrastructure Finance S.a.r.l. and BESTINVER S.A. entered into an agreement to acquire stake in eight concession assets in Spain from Acciona, S.A. (BME:ANA) for approximately €480 million on November 30, 2020. The consideration includes €357 million as purchase price and €127 million of debt related to assets. Meridiam will pay €312 million for the leading stakes and BESTINVER will pay €45 million and will take minority stakes in the CM-42 Highway and in two of the hospitals. A partial payment of €234 million will be made before the end of 2020. The transaction is subject to various authorizations and is expected to close in first half of 2021. Crédit Agricole Corporate and Investment Bank has acted as sole financial advisor to Acciona in the transaction. Is New 90 Day High Low • Nov 26
New 90-day high: €104 The company is up 3.0% from its price of €101 on 27 August 2020. The Austrian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electric Utilities industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €44.29 per share. Analyst Estimate Surprise Post Earnings • Nov 10
Revenue misses expectations Revenue missed analyst estimates by 1.2%. Over the next year, revenue is forecast to stay flat compared to a 18% growth forecast for the Electric Utilities industry in Austria. Is New 90 Day High Low • Oct 29
New 90-day low: €90.30 The company is down 5.0% from its price of €95.25 on 30 July 2020. The Austrian market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electric Utilities industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €324 per share. Aankondiging • Sep 29
Acciona, S.A. (BME:ANA) acquired 240 MW AC and 315 MW DC photovoltaic (PV) project in Texas from Diode Ventures, LLC Acciona, S.A. (BME:ANA) acquired 240 MW AC and 315 MW DC photovoltaic (PV) project in Texas from Diode Ventures, LLC on September 28, 2020. With the transaction, ACCIONA extends its footprint in U.S. solar generation as demand for renewable energy grows due to increasing efforts to decarbonize the electric sector.
Acciona, S.A. (BME:ANA) completed the acquisition of 240 MW AC and 315 MW DC photovoltaic (PV) project in Texas from Diode Ventures, LLC on September 28, 2020. Aankondiging • Sep 18
Accicona S.A. Signs One Year Renewable Power Supply Deal with Madrid Calle 30 SA Acciona S.A. announced that it has signed a one-year contract to supply certified 100% renewable energy power to road manager Madrid Calle 30 SA. Under the terms of the deal, Acciona will deliver 36 GWh of clean energy to power the buyer's energy management system, responsible for the correct operation of its lighting, ventilation, traffic control, security and communications systems. With this contract, Madrid Calle 30 will be able to avoid more than 5,800 tones of carbon dioxide (CO2) emissions per year. 
