July 30, 2020 / 9:32 AM / 15 days ago

BRIEF-Acciona CEO Sees Net Debt Falling In Coming Quarters

July 30 (Reuters) - Jose Angel Tejero, CEO of Acciona says:

* EXPECTS NET DEBT TO FALL IN COMING QUARTERS DUE TO NORMALISATION OF EBITDA, ASSET DISPOSALS

* EXPECTS TO MEET GOAL OF ADDING 5GW OF ENERGY CAPACITY BY 2024

* EXPECTS TO SIGN POWER PURCHASE AGREEMENTS WITH TENASKA IN US AND PUSH FURTHER OPPORTUNITIES IN THE BROADER MARKET

* NEW CLAUSES HAVE BEEN INTRODUCED IN NEW CONTRACTS AND TENDERS TO TAKE INTO ACCOUNT COVID PANDEMIC EFFECTS

* NO EBITDA GENERATED IN H1 FROM CONSTRUCTION AND INFRASTRUCTURE SERVICES AS A RESULT OF COVID LOSSES

* CONSIDERING CONCESSIONS AND PARTNERSHIPS IN RENEWABLES TO MEET 1.2 BILLION EURO ASSET ROTATION AND DISPOSAL TARGETS

* ELECTRICITY DEMAND HAS NOT RECOVERED PRE-COVID LEVELS, STILL 15-20% BELOW PRE-COVID LEVELS IN SPAIN

* POSSIBLE EBITDA DILUTION OF AROUND 40 MILLION EUROS AS A RESULT OF DIVESTMENT

* CONSIDERING SOLUTIONS WHICH DO NOT IMPLY THAT KIND OF DILUTION

* ACCIONA WILL HAVE LOWER CAPEX IN H2 BUT NOT DELAYING INVESTMENT PLAN, INSTEAD MINIMISING CASH OUTFLOWS BY PUSHING PAYMENTS INTO 2021

* 24% FALL IN CONCESSIONS EBITDA IS DUE TO TRAFFIC FALLING BY UP TO 80% ON TWO HIGHWAYS IN SPAIN DURING LOCKDOWN Source text for Eikon: Further company coverage: [ ] (Reporting by Clara-Laeila Laudette)

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