Isolux Corsán's Revenues Increase 5.2% to €977m in the First Half

The Company's EBITDA reached €93m, a decline of 22% with respect to the same period last year. This decrease is due to higher pressure on margins in some projects in Latin America , among other reasons. Additionally, in the first half of 2014, there were certain positive non-recurring impacts which made the base of comparison higher. Isolux Corsán managed to reduce losses to almost half, posting a net loss of €17m with respect to €28m in the same period in 2014. This drop is driven mainly by the higher result coming from the concessions business, consolidated through the equity method.

The Group's backlog reached €7,150m in the first six months of the year, an increase of 4% with respect to the same period in 2014. The new orders reached €1,222m in the period. The main contracts awarded include a highway in Romania for a total contract value of €120m, the high speed rail (AVE) in the Basque Country ( Spain ) for €101m, and a solar photovoltaic plant in Japan for €60m.

Latin America continues to consolidate, yet another quarter, as a strategic area for the Company and represents 58% of the revenues generated in this period. In the Middle East , Isolux Corsán continues to increase its footprint, as the company has been selected as preferred bidder for the execution of the metro subway in Mecca ( Saudi Arabia ), a project with a budget of over €900m.