Spain's Abertis Infraestructuras SA (ABE.MC) said Monday that its nine-month net profit and revenue increased on year, driven largely by rising vehicular traffic in the group's main markets and the incorporation of new businesses.
Net profit at the toll-road operator increased 2.4% to 735 million euros ($865.8 million) in the period from January to September, up from EUR718 million a year earlier. Revenue was up 16% to EUR4.19 billion.
Traffic volumes in Spain and Italy rose by 4.2%, and in Chile by more than 3%, offsetting a decline in Puerto Rico, where a recent hurricane contributed to a 2.3% drop in traffic.
The company said that the enlargement of its stake in Italian subsidiary A4 Holding SpA and the complete takeover of French subsidiary HIT together contributed EUR117 million to its nine-month net income.
The board has approved an interim dividend of EUR0.40 a share to be paid in November, in line with the company's strategic plan.
Abertis has been in the media spotlight over the past six months after becoming the subject of a bidding war between Italy's Atlantia SpA (ATL.MI) and Germany's Hochtief AG (HOT.XE), which is controlled by Spain's Actividades de Construccion y Servicios SA (ACS.MC).
Hochtief recently launched a EUR18.6 billion bid for Abertis, gatecrashing an earlier offer from Atlantia that valued the company at EUR16.3 billion.
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(END) Dow Jones Newswires
October 23, 2017 03:23 ET (07:23 GMT)