Sacyr increases Ebitda by 7.2% and achieves net profits despite having to create eur 85 million in provisions for the Panama Canal ruling05/11/2020
- Amid the complex global scenario caused by the Covid-19 pandemic, Sacyr's businesses have improved turnover, EBITDA, and profitability. This shows the strength of the multinational's strategy, focusing on concession assets.
- Sacyr has covered the cost of the recent Panama Canal ruling regarding the basalt and concrete formula. Its strong financial situation allows it to pay the amount stipulated in the ruling using its own cash reserves, without compromising current projects or growth plans.
- The Board of Directors has approved the distribution of a scrip dividend of one share for every 33 securities. In 2020, the dividend yield is above 4%.
In an extremely demanding context due to the global crisis caused by Covid-19, Sacyr increased EBITDA between January and September by 7.2% to 527 million euros.
This increase reflects the strength of the multinational's business model, which focuses on the concession business, with low demand risk. Thanks to this, the company did not suffer any major impacts resulting from the pandemic during the third quarter of the year. 78% of EBITDA has come from concessions businesses in its three major business areas: Concessions, Engineering, and Infrastructure and Services.