Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Q2 2022 Earnings Conference Call August 3, 2022 8:15 AM ET

Company Participants

Santiago Seage - Chief Executive Officer

Francisco Martinez-Davis - Chief Financial Officer

Conference Call Participants

Julien Dumoulin-Smith - Bank of America

David Quezada - Raymond James

William Grippin - UBS

Operator

Welcome to Atlantica's Second Quarter 2022 Financial Results Conference Call. Atlantica is a sustainable infrastructure company. Just a reminder that this call is being webcast live on the Internet and a replay of this call will be available on Atlantica's corporate website.

Atlantica will be making forward-looking statements during this call based on current expectations and assumptions which are subject to risks and uncertainties. Actual results could differ materially from our forward-looking statements if any of our key assumptions are incorrect or because of other factors discussed in today's earnings presentation or because of other factors discussed, including the Risk Factors section of the accompanying presentation and in our latest reports and filings with the Securities and Exchange Commission, all of which can be found on our website. Atlantica does not undertake any duty to update any forward-looking statements.

Joining us for today's conference call are Atlantica's CEO, Santiago Seage; and CFO, Francisco Martinez-Davis. As usual, at the end of the conference call, we will open the lines for the Q&A session.

I will now pass you over to Mr. Seage. Please, sir, go ahead.

Santiago Seage

Thank you very much. Good morning and thank you for joining us for our second quarter 2022 conference call.

A few key messages to start with. In the first half of the year, revenue has increased by 4.7% and adjusted EBITDA has increased by 3.7% on a comparable basis, while CAFD growth has been 6.7% up to $117 million. Our Board of Directors has declared a quarterly dividend of $0.445 per share. Regarding growth and investments in growth, in the first half of the year until now, we have closed or earmarked investments between $160 million and $180 million.

With that, I will turn the call over to Francisco, who will guide us through our financial results.

Francisco Martinez-Davis

Thank you, Santiago and good morning to everyone.

Please turn to Slide number 4, where I will present our key financials for the first half of 2022. Revenue reached $555 million which represents a 4.7% growth on a comparable basis, excluding the effect of the nonrecurring solar project that we discussed last year and foreign exchange. Adjusted EBITDA amounted to $402 million, representing an increase of 3.7% on the same comparable basis. Regarding cash available for distribution, we generated $117 million in the first half of 2022, an increase of 6.7% year-over-year.