Spain · Delayed Price · Currency is EUR Sacyr Earnings Call Transcripts
Fiscal Year 2026
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9M revenue, EBITDA and attributable profit grew, with like-for-like operating cash flow up 21% and recourse net debt below 1x. Concession growth, investment-grade ratings and an international project pipeline support expansion while bidding remains selective.
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Revenue and EBITDA each grew 9% year-over-year in H1 2026, with net profit up 157% and a 122% increase in cash dividend. Concession asset value rose 16%, and the backlog reached EUR 73.3 billion, supported by strong performance across all business segments.
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Revenue and EBITDA grew 5% and 9% year-over-year, respectively, with net profit up 40%. Major new concessions, improved margins, and a strong cash position support a 21% dividend increase and continued expansion in key markets.
Fiscal Year 2025
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Revenue grew 12% to EUR 4.66 billion and EBITDA reached EUR 1.358 billion, with net profit up 46% excluding divestments. Five new concession awards and a major Colombian asset sale drove strong cash flow and reduced net recourse debt to record lows.
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Revenue grew 5% year-over-year to EUR 3.412 billion, with net profit (excluding Colombia divestments) up 81%. Four new concession projects were awarded, and an investment grade rating was achieved. Operating cash flow rose 11% to EUR 890 million, and the company remains on track with its strategic plan.
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Revenue rose 6% to €2.237 billion and net income (excluding divestments) surged 85% to €96 million, with strong growth in construction and water divisions. Asset valuation increased 11% to €3.957 billion, and major asset sales and new projects support a robust outlook.
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Revenue grew 7% year-over-year to EUR 1.059 billion, with net profit up 5% and operating cash flow rising 8%. Major new concessions were secured in Paraguay, Chile, and Italy, while the company maintained a strong focus on debt control and governance improvements.
Fiscal Year 2024
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Strong operating cash flow growth, reduced net debt, and increased shareholder remuneration highlight robust 2024 results. Five major new concessions and a record backlog support long-term growth, while asset rotation and divestments are underway to maintain financial flexibility.
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Operating cash flow surged 65% year-over-year to EUR 805 million, driven by new concessions and a record project backlog. Margins remain robust, with stable revenue and strong performance in concessions and water divisions. Strategic growth and capital discipline are on track.
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H1 2024 saw a 60% rise in operating cash flow to EUR 574 million, driven by new concessions and prudent risk management. EBITDA grew 4.5%, while revenue dipped slightly as focus shifted to concessions. Capital was raised for future growth, and major new assets were added.