Sacyr increases turnover vy 7% and Ebitda by 17% to 194 million Euros06/05/2021
Sacyr increased its EBITDA by 17% in the first quarter of 2021, reaching 194 million euros, due to the positive evolution of its businesses and the soundness of its business model, firmly based on its concessions. In effect, concession assets, with a limited demand risk, contributed 81% of this EBITDA, four percentage points more than in the same quarter of 2020.
This growth has been achieved in the challenging environment created by the COVID-19 crisis. During the quarter Sacyr has continued to implement preventive measures to confront the pandemic at all workplaces, with the safety of its employees, collaborators and clients as a priority in the development of its activities.
In the first quarter of the year turnover grew 7%, to 1.057 billion euros, and profitability (margin-to-EBITDA) climbed to 18.3%, significantly higher than the level achieved in the first quarter of last year (16.8%). Operating cash flow was up 31%, reaching 117 million euros.
Net profit reached 26 million euros, 20.6% less than in the January-March 2020 period, because last year extraordinary income was recorded from the sale of the Guadalmedina highway.
The future revenue backlog ended the quarter at 40.189 billion euros, 3% more than at the end of 2020 as a consequence of the incorporation of new construction and concession projects.