LISBON: The Águas de Portugal (AdP) water and sanitation provider turned in a €102.4 million profit in 2014, according to a statement from the company Tuesday.
The 2014 financial year “stood out for the very favourable trends in the main economic-financial indicators and from the outset including a reduction in the net debt level that closed on €2.4 billion, down €94.4 million on 2013”.
The group also highlighted that outstanding client debts were down from €559.8 million to €514.2 over the year and primarily due to agreements reached with municipal councils. Group investment also registered growth in 2014 rising 29.5% year-on-year to total €210.5 million whilst its 2014 EBITDA rose 4.5% to €383.9 million.
AdP was founded in 1993, manages total assets worth €7.5 billion and provides direct or indirect water related services to over 80% of the Portuguese population.
