Acciona Agua set to double its revenue flows by 2013

Acciona Agua’s revenues grew by 19% in 2009 to reach €438 million (39% of which was generated outside Spain), although EBITDA slipped from €40 million to €35 million, despite the company winning a series of headline contracts last year.

Revenue flows from the new contract awards will aid Acciona Agua in its bid to double revenues to €950 million over the next four years, while boosting EBITDA to €90 million over the same timeframe.

The new financial targets were released on 1st March as part of a strategic plan for the entire Acciona Group, which aims to boost revenues by 14% per year and operating profit by 22% between 2010 and 2013.

The water division, under managing director Luis Castilla, plans to invest €400 million over the next four years, and is looking to open new permanent offices in Egypt, Colombia and India in the short term.