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    ANA   ES0125220311

ACCIONA, S.A.

(ANA)
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Acciona S A : B.C. regional district cancels wastewater treatment plant deal after delays

10/15/2021 | 09:10pm EST

VANCOUVER — The head of the Metro Vancouver Regional District says it has lost confidence in the contractor hired to build a wastewater treatment plant in North Vancouver, B.C., and has terminated its contract with the company.

Jerry Dobrovolny, chief administrative officer for the regional district, says the price tag rose from $500 million to $1 billion.

Acciona, the company behind the plant's construction, was unavailable for an interview and did not immediately return a request for comment.

Dobrovolny says Acciona left the regional district with "no choice" after construction delays and the rise in price.

He says the project is 36 per cent complete when by Acciona's timeline it should be at 55 per cent, and the project was intended to be completed by 2020.

Dobrovolny says it's unusual to cut ties with a contractor, but the decision was made to shield taxpayers from further costs.

Acciona's website says the company is also responsible for the construction of the Broadway SkyTrain expansion as well as the Pattullo Bridge replacement.

"This is a last resort, certainly not something we would have wanted to do or a position we would have wanted to be in. At some point we have to say enough is enough," Dobrovolny said in an interview.

He said the regional district will now work to find a contractor on an expedited basis.

This report by The Canadian Press was first published Oct. 15, 2021.

© 2021 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Analyst Recommendations on ACCIONA, S.A.
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Financials
Sales 2021 7 456 M 8 418 M 8 418 M
Net income 2021 364 M 411 M 411 M
Net Debt 2021 4 602 M 5 196 M 5 196 M
P/E ratio 2021 24,3x
Yield 2021 2,45%
Capitalization 8 842 M 9 939 M 9 983 M
EV / Sales 2021 1,80x
EV / Sales 2022 1,77x
Nbr of Employees 38 967
Free-Float 43,3%
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Number of Analysts 12
Last Close Price 161,80 €
Average target price 168,31 €
Spread / Average Target 4,02%
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Managers and Directors
JosÚ Manuel Entrecanales Domecq Chairman & Chief Executive Officer
JosÚ ┴ngel Tejero Santos Group Chief Financial Officer
Arantza Ezpeleta Puras Director-Technology & Innovation
Vicente SantamarÝa de Paredes Castillo Director-Compliance
Jerˇnimo Marcos Gerard Rivero Independent Director
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