Abertis Infraestructuras SA said first-quarter profit rose 7 percent, boosted by its Spanish business, as the country’s economic recovery caused traffic to increase on its toll roads.
Net income rose to 133 million euros ($149.7 million) from 125 million euros a year earlier, the Barcelona-based company said in a regulatory filing. Earnings compared with the 135.1 million euros average estimate in a Bloomberg survey of nine analysts.
Revenue rose 6.2 percent to 1.16 billion euros, bolstered by a 6 percent increase in Spanish traffic, the biggest gain since 2007, as drivers of trucks and cars made more journeys in a growing economy, Abertis said. Spain’s economy is on course for average annual growth of about 3 percent through 2018, according to government estimates.
Earnings before interest, tax, depreciation and amortization rose 6.4 percent from a year earlier to 729 million euros, the company said. Traffic in Abertis’s total road network rose 1.3 percent from a year earlier.