* ATLANTICA YIELD REPORTS FIRST QUARTER 2018 FINANCIAL RESULTS* SAYS REACHED AGREEMENT WITH ALGONQUIN POWER & UTILITIES CORP. FOR SALE OF REMAINING 16.47 PERCENT OF SHARE CAPITAL OF ATLANTICA YIELD* SAYS THE SALE OF 25% STAKE IN ATLANTICA YIELD WAS COMPLETED FOR $607.6 MILLION, WITH CAPITAL GAIN OF ABOUT 108.0 MILLION EUROS Source text for Eikon: Further company coverage: 7 (Gdynia Newsroom)* ATLANTICA YIELD PLC - INITIATING GUIDANCE FOR 2018 WITH AN EXPECTED FURTHER ADJUSTED EBITDA IN RANGE OF $770 MILLION TO $820 MILLION* SAYS ALL CONDITIONS FOR SALE OF 25 PERCENT OF ATLANTICA YIELD HAVE BEEN SATISFIED OR WAIVED* GETS REQUIRED CONSENTS FROM ITS CREDITORS TO CLOSE THE SALE OF 25 PCT STAKE IN ATLANTICA YIELD Source text for Eikon:Quote and financial data from Refinitiv.
Dividend . CAFD pre-corporate debt service is calculated as CAFD plus interest paid by Atlantica Yield plc. In addition, CAFD is used by our management team for determining future acquisitions and managing our growth. Atlantica expects to use proceeds to finance new investments in renewable assets. Key Information—Risk Factors" and the description of our segments and business sectors in the section entitled "Item 4B.
May 7, 2020 – Atlantica Yield plc (NASDAQ: AY) (“Atlantica” or the “Company”), the sustainable infrastructure company that owns a diversified portfolio of contracted assets in the energy and environment sectors, reported today its financial results for the first quarter of 2020.Health and safety remains Atlantica’s top priority. Adjusted EBITDA and CAFD are widely used by other companies in the same industry. Atlantica continues to provide reliable service to its clients, with no significant disruptions in availability or production due to COVID-19 until now.Revenue for the first quarter of 2020 was $210.4 million, representing a 5.0% decrease compared with the first quarter of 2019. It has operating facilities in North America, including United States, Canada and Mexico; South America, including Peru, Chile and Uruguay, and EMEA, including Spain, Algeria and South Africa. It operates in business sectors, such as Renewable energy, Efficient natural gas, Electric transmission and Water. Atlantica has become a very active player in green financing thanks to its late issuances at both corporate and project level. Atlantica Sustainable Infrastructure To Exercise Option To Acquire Tax Equity Investor's Equity Interest In SolanaAtlantica Sustainable Infrastructure Announces Proposed Offering Of $100 Mln Green Exchangeable Senior NotesAtlantica Reports First Quarter 2020 Financial ResultsAtlantica Sustainable Infrastructure PLC, formerly Atlantica Yield plc, is an infrastructure company. We calculate constant currency amounts by converting our current period local currency revenue and Adjusted EBITDA using the prior period foreign currency average exchange rates and comparing these adjusted amounts to our prior period reported results. Net corporate debt is calculated as long-term corporate debt plus short-term corporate debt minus cash and cash equivalents at Atlantica corporate level.CAFD pre-corporate debt service is calculated as CAFD plus interest paid by Atlantica Yield plc.On May 6, 2020, the Board of Directors of Atlantica approved a dividend of $0.41 per share. Our management believes CAFD is a relevant supplemental measure of the Company’s ability to earn and distribute cash returns to investors and that CAFD is useful to investors in evaluating our operating performance because securities analysts and other interested parties use such calculations as a measure of our ability to make quarterly distributions. In some cases, you can identify forward-looking statements by terminology such as "aim," "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "guidance," "intend," "is likely to," "may," "plan," "potential," "predict," "projected," "should" or "will" or the negative of such terms or other similar expressions or terminology.By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements speak only as of the date of this presentation and are not guarantees of future performance and are based on numerous assumptions.
On February 13, 2019, the board of directors of Atlantica Yield plc (“Atlantica” or the “Company”) formed a strategic review committee (the “Committee”) with the purpose of evaluating a wide range of strategic alternatives available to the Company to optimize the value of the Company and to improve returns to shareholders. This dividend is expected to be paid on June 15, 2020 to shareholders of record as of June 1, 2020.As of March 31, 2020, Atlantica’s available corporate liquidity stood at approximately $406 million, out of which approximately $155 million was corporate cash.The weighted average corporate debt maturity, as of today, is approximately 4.7 years. Likewise, the senior management will hold conference calls with investors on May 11, 2020, please contact the Company for further information at This press release contains forward-looking statements. Atlantica Sustainable Infrastructure PLC, formerly Atlantica Yield plc, is an infrastructure company. The first investment was the acquisition of an approximately 50 MW solar PV plant in an area with excellent solar resource.
The Solana solar plant is a 280 MW gross solar electric generation facility located in Arizona. About Atlantica Yield Atlantica Yield is a total return company that owns a diversified portfolio of contracted renewable energy, power generation and electric transmission assets in North America, South America and certain markets in EMEA (Spain, Algeria and South Africa). Atlantica has successfully refinanced more than $550 million dollars of corporate debt in the last twelve months, with significant improvements in cost and flexibility, but most importantly, significantly extending its maturities. During the last year, Atlantica has issued a Green Project Finance Facility, a Green Corporate Private Placement and an ESG-linked Financial Guarantee Line.Atlantica’s CEO, Santiago Seage and CFO, Francisco Martinez-Davis, will hold a conference call and a webcast on Thursday, May 7, 2020, at 8:45 am (New York time).In order to access the conference call participants should dial: + 1 631-510-7495 (US), +44 (0) 844-571 8892 (UK) or +1-866-992-6802 (Canada), followed by the confirmation code 2207538 for all phone numbers.