Sacyr raises Ebitda by 28% to €923 million in a year with a record backlog25/02/2022
The operating cash flow increases to 15%, to € 629 million, which contributes to cutting net recourse debt by 19%, to € 681 million; this fulfills the company’s commitment to reducing it below € 700 million.
The company registers a net profit of - € 189 million largely due to the change in the accounting method of its participation in Repsol, and the recording of a provision for the Radiales project. This impact only has accounting effects and does not entail cashout flow for the group.
Sacyr’s focus on P3 projects is reflected on its EBITDA: these assets represented 83% of the EBITDA in 2021. Profitability soars to 19.7%, significantly higher (+24%) than that in 2020 (15.9%).
The revenue backlog increases by 17%, to nearly € 46 billion, after a year with a record order intake in which the group accrued an € 11 billion backlog worth of new contracts.