Acciona will construct a desalination plant in Saudi Arabia with a daily capacity of 210,000 cubic metres, having won the contract worth more than 200 million euros with the Saudi public company Saline Water Conversión Corporation (SWCC).
Utilities in Europe have made a sudden stock market comeback since late July, after performing well in May, underpinned by strong Q1 earnings and some speculation about possible further consolidation in the industry. Q2 results have also been solid and fuelled earnings upgrades.
Acciona has obtained one of the biggest rail contracts currently underway in Australia, namely the upgrade of a line to boost the service in Melbourne worth 518 million Australian dollars (around 350 million euros). It sees 100 billion euros of infrastructure development opportunities in Australia and New Zealand in the next 10 years.
Analysts at Carax- Alphavalue have been holding sceptical views as a rule about the benefits of holding stakes in companies held by families or under their influence. However they may have to change their mind thanks to a couple of charts of the relative performance of a universe made of 104 stocks tagged as “under family influence”. They hence provides a list of “family” stocks with a significant upside potential, which includes Spanish Corporación Financiera Alba ranking first, and Acciona fourth.
Fernando Rodríguez | Barely 10% of Spain’s 6 listed constructors’ business is generated at home. But problems like the recent cancellation of the real estate plan included in Madrid’s Operacion Chamartin, due to the decision of the city council which is close to Podemos, are all contributing to maintaining the generic perception that they are “Spanish companies” subject to political risk.