Performance confirms the stability and resilience of the Águas de Portugal Group
The General Assembly of AdP - Águas de Portugal, SGPS, S.A. shareholders approved the 2021 management report and consolidated accounts for 2021 and highlights the consistency in the positive trajectory of growth across the majority of indicators.
The increase in the investment program, up 25% on recent years, to reach a total of 155 million euros, is backed by the Group’s own capacity to generate sufficient cashflow.
The AdP Group closed the financial year with a net result of 83.3 million euros, with a 6% gain on the preceding year stemming primarily from the reduction in financing costs, a consequence of the 10% cut in the level of debt that corresponds to a multiple of 3.6 for EBITDA.
The consolidated AdP Group business turnover – stripped of any earnings from the construction of concessionary assets and the favourable income from cost recovery – amounted to 725.2 million euros, 1.4% higher year-on-year, deriving from water supply and sanitation activities.
José Furtado, chair of the Board of Directors, highlights that “the technical, economic and financial resilience of the Águas de Portugal Group both endows the stability needed for the companies and empowers them to advance with the investment plans essential to the efficiency, rehabilitation and expansion of infrastructures. This also enables them to correspond appropriately to the new challenges facing the sector, inherent to the ecological and digital transitions”.
According to José Furtado, “the AdP Group holds the capacity and the competences to engage with determination and advance down the path set out in the Strategic Framework of Commitment, safeguarding the high standards of service provided alongside boosting the response capacity across the domains of sustainability, specifically the dynamics associated with climate change, decarbonisation and the circular economy”.
19 of May of 2022