Abengoa SA, the Spanish renewable-energy company scrambling to avoid bankruptcy, reported a 1.2 billion-euro ($1.3 billion) loss for 2015 after its business was revalued amid a financial restructuring process.
The Seville-based company shifted to a loss after posting net income of 125.3 million euros the previous year, according to a regulatory filing Monday. The loss was mainly due to negative impacts of 878 million euros, related to a viability plan developed by adviser Alvarez & Marsal, according to the filing. Revenue dropped to 5.8 billion euros from 7.2 billion euros in 2014, while earnings before interest, taxes, depreciation and amortization slid to 515 million euros from 1.4 billion.
Abengoa is currently under preliminary bankrup…
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