Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Q1 2022 Earnings Conference Call May 9, 2022 8:15 AM ET
Company Participants
Santiago Seage - Chief Executive Officer
Francisco Martinez-Davis - Chief Financial Officer
Conference Call Participants
Colton Bean - Tudor, Pickering, Holt & Co.
Julien Dumoulin-Smith - Bank of America
Mark Strouse - JPMorgan
Mark Jarvi - CIBC
David Quezada - Raymond James
William Grippin - UBS
Operator
Welcome to Atlantica’s First 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 thanks for joining us for our first quarter 2022 conference call. I will start with a few key messages. In the first quarter of 2022, revenue has increased by around 7%. And adjusted EBITDA has increased by close to a 5% on a comparable basis, excluding foreign exchange rate effects and non-recurrent impact last year.
We have had year-over-year CAFD growth of a bit more than 6% reaching $54 million. Our Board of Directors following the results has declared a quarterly dividend of $0.44 per share. Regarding growth this year, we have already closed or a earmarked investments between $140 million and $150 million, including acquisitions and construction of new assets, new renewable energy plants.
I will now turn the call over to Francisco, who will take you through our quarterly financial results. Francisco, whenever you want.
Francisco Martinez-Davis
Thank you, Santiago, and good morning to everyone. Please turn to Slide #4, where I will present our key financial for the first quarter of 2022. Revenue in the first 3 months of 2022 reached 400 -- $247.5 million, which represents a 7% growth on a comparable basis. Excluding foreign exchange and the effects of the non-recurring solar project that we discussed last year. Adjusted EBITDA amounted to $173.6 million, representing an increase of 4.8%, on the same comparable basis previously mentioned. Regarding cash available for distribution, we generated $54.4 million in the first quarter of 2022, an increase of 6.3 year-over-year.