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Sacyr raises EBITDA by 32% to €320 million and makes net profit for 31 million (+51%)
09/05/2023Descargar PDF- The company maintains robust growth results in the first quarter, driven by its P3-focused strategy.
- Profit rates stood at 24.8%, 4.5 points higher than in the first quarter of 2022.
- In 2023, Sacyr will commission four major P3 assets, increasing the value of its portfolio.
- Sacyr expects to reduce its recourse net debt throughout 2023. Divestment processes for Sacyr Facilities and Valoriza Medioambiente are currently in the confirmatory due diligence phase and binding offers are scheduled for later in May.
- Backlog grows by 8% and exceeds €58.8 billion.
Sacyr achieved solid growth in the first quarter of 2023, thanks to its business model, focused on P3 development.
The company’s EBITDA reached €320 million, which entails a 32% increase compared to 2022. All three Sacyr business units (Sacyr Concesiones, Sacyr Engineering and Infrastructure and Sacyr Services) contributed to EBITDA growth, driven by the commissioning of new highway sections and good asset performance.
Profitability (EBITDA margin) was 24.8%, 4.5 p.p. higher than in 1Q 2022.
Revenues ended March 2023 at €1,293 million, with an 8% increase, and net profit was €31 million, 51% higher.
P3 assets make up 85% of the EBITDA, which yields a predictable and stable business model. The international backlog is 85% of the total.