Abengoa Reports Nine-Month Loss as Auditor Highlights Concerns
- Abengoa says main reason for loss is Abengoa Yield charge
- Deloitte says `significant doubts' could arise over its future
This article is for subscribers only.
Abengoa SA, the Spanish renewable-energy company that’s lost almost half its value this year, reported a nine-month loss and pledged to sell assets to raise funds as its auditor highlighted risks to its future.
The Seville, Spain-based company’s B shares fell as much as 8.2 percent after the firm swung to a 193.9 million-euro ($208 million) loss from a profit a year earlier. Deloitte, the auditor, said Abengoa’s losses, slumping shares and difficulty accessing financing could generate “significant doubts” over its ability to keep operating.