Engineering and Construction

Revenues in Engineering and Construction increased by 53% compared to the previous year, to €3,526 M (€2,302 M for 2010), while EBITDA increased by 69% to €438 M compared to 2010 (€259 M). These increases were principally due to:

• Start of construction of the Solana solar plant in Arizona (USA).
•  Construction of thermosolar plants in Spain.
• Higher volume of construction of transmission lines in Brazil and Peru, as well as the cogeneration plant for Pemex in Tabasco.
• Construction of the solar-thermal plant in Abu Dhabi.

Concession-type Infrastructures

Revenues in the Concession-type Infrastructures activity increased by 39% compared to the same period the previous year, to €427 M (€308 M in 2010), while EBITDA rose by 44% to €299 M compared to €208 M in 2010. These increases were mainly due to:

• Contribution for the full year of the new solar plants in Spain (Solnova 1, Solnova 3 and Solnova 4), which came into operation at different times during 2010, as well as the beginning of operation of Helioenergy 1, a 50 MW thermosolar plant, during the third quarter of 2011.
• Start-up of the hybrid solar/gas plant in Algeria during the first half of 2011.
• Contribution for the full year from the transmission lines in Brazil (ATE IV-VII), which came online in 2010 as well as the beginning of operation of the ATN transmission line in Peru.

Industrial Production

Revenues in the Industrial Production activity increased by 39% compared to the same period of the previous year, to €3,136 M (€2,250 M in 2010). EBITDA increased by 6% to €366 M compared to €345 M in 2010. These increases were mainly driven by:

• Higher revenues in Bioenergy as a result of higher commodity prices in the company’s three geographical regions (Europe, USA and Brazil) and increased capacity in Europe and the USA as a result of the consolidation during a full year period of the plants in Rotterdam, Indiana and Illinois, which came online at different times during 2010. The decline in EBITDA in Bioenergy was due to the lower margin obtained in Europe and the USA, which was not offset by the higher margins obtained in Brazil.
• The increase in revenues and EBITDA in the recycling business was due to the greater volume and higher prices of industrial waste treated.
•  The increase in Others is mainly due to the higher sales of technological thermosolar licenses.