Sacyr raises EBITDA by 32% to €320 million and makes net profit for 31 million (+51%)09/05/2023
- 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.
Sacyr raised Ebitda by 63% to €1,502 million, and achieved record 26% profitability rates24/02/2023
Sacyr experienced record growth in 2022 thanks to its successful business model, focused on the development of concession assets.
The company’s EBITDA climbed to €1,502 million, a 63% increase compared to 2021. This growth was due to the commissioning of several highway sections and the fact that the concession assets’ revenues are directly linked to inflation.
This improvement in results came with a substantial increase in profitability (EBITDA margin), that raised the result to a record 25.7%, 6 pp higher than in 2021 (19.7%).
Revenues in 2022 stood at €5,852 million, a 25% increase compared to 2021, and net profit was €111 million, compared to the €189 million in the red in 2021.
Sacyr proved the soundness of its predictable and stable business model in 2022. Concession assets made up 88% of the EBITDA, compared to 83% in 2021.
In 2022, Sacyr fulfilled the main goals in the 2021-2025 Strategic Plan in terms of revenues (€5,852 M vs. €5,500 M), EBITDA (€1,502 M vs. €1,200 M), profitability (26% vs 22%) and percentage of EBITDA contributed by concessions (88% vs. 85%).
Sacyr announced a divestment plan in October 2022 to fulfill the target of drastically reducing the recourse net debt well ahead of schedule.
Sacyr partners with Mooevo to create urban micromobility solutions21/02/2023
- Both firms will market sustainable electric carts for municipal services and last mile delivery under the brand MOOEVO Green.
MOOEVO and Sacyr have founded the MOOEVO Green joint venture to develop and distribute electric carts for a more sustainable and cleaner transport of wares and urban services.
MOOEVO Green will market the new Clean street cleaning electric carts. Valoriza purchased a fleet to provide the municipal services in the city of Madrid and are already functioning.
These electric carts allow logistics workers to carry loads up steep slopes, sidewalks, and obstacles with less effort. The new Clean carts have full 8-hour autonomy and can fit two 70-liter or 100-kilogram bins.
Additionally, the new joint venture will market other multi-industry vehicles, to clean both sidewalks and roads and to transport people and wares in urban locations. These vehicles are used by major courier companies.
MOOEVO Green’s catalogue will include electric carts for waste collection and other types of vehicles for persons with reduced mobility and their companions. The latter have already been used in Ifema during the Covid-19 crisis and other hospitals.
“This joint venture also offers novel electric solutions to transport people and wares. The global growth of e-commerce activity, as well as the ever increasing urban and legal restrictions on wheeled vehicles are driving logistics companies to use alternative vehicles that are compliant with the law and are financially viable in order to make their deliveries”, explained Ignacio Estellés, CEO of MOOEVO Green.
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We use solar power to transform tires into rubber dust16/02/2023
We have installed over 1,000 solar panels that will compensate 20% of facility’s power consumption
At our Chiloeches facility, in Guadalajara, Spain, we convert end-of-life-tires into rubber dust to add into the bitumen formulation to build roads.
We used to power this process with primary energy sources, but from now on, we will cover 20% with photovoltaic energy thanks to the solar panels recently installed in the facility.
“We’ve assembled 1,112 panels in total, 440 kW, across the entire south area of the warehouse”, said Luis Muñoz, Head of service at our Chiloeches facility, a Sacyr Green project.
With Chiloeches being a self-consumtion, no-surplus facility, it will adapt to the facility’s production demands, but in the future, it is expected that it will sell any surplus to the general electric network on the weekends.
“Currently, our shredding line consumes a lot. Right now, we are on a maintenance stoppage, but whenever we put it back up, consumption rates rise. With this new system, we will save 20% in consumption”, Muñoz explains.
In terms of the reduction of carbon emissions, we expect a self-consumption of 718,000 kWh/year, with an estimated reduction of 186 Tn CO2/year.
We receive a ‘Pajaritas Azules’ award for our work in Soria16/02/2023
Aspapel has given this award to the Soria Citiy Hall, where Valoriza provides the waste management and street cleaning services
This award recognizes the work of the organizations responsible for the municipal services of paper and carboard sorting. In this edition, the organization has insisted on the importance of doing better at recycling, by applying measures to improve the quality of recovered paper and cardboard products.
Soria has received three Pajaritas Azules (máximo reconocimiento) for the sixth time. Other organizations have received one or two.
Other cities’ municipal contracts managed by Valoriza, like Madrid (1), Barcelona (3), Cádiz (3), Reus (2), Mollet del Vallés (3) and Pinto (2) also received their Pajaritas Azules.
This time, Pablo Fernandez de Castro, Valoriza deputy at Castilla y León, Asturias and Cantabria collected the award. Pablo had the company of Fernando Baena, Head of service for Valoriza in Soria and Ángel González, NE regional managing director at Valoriza.
Valoriza starts providing street cleaning and waste collection services in Puertollano16/02/2023
- The contract has a duration of 4 years and 11 months and is valued at €19.2 million
- The current vehicle and machinery fleet will be upgraded to new equipment, more eco-efficient and sustainable, and less noisy.
Valoriza Medioambiente started providing the street cleaning and waste collection and management service in Puertollano. The contract has a duration of four years and 11 months and is valued at €19.2 million.
The presentation of the new service provider was facilitated by the local mayor, Adolfo Muñiz, along with the Environment council woman Noelia Caballero, and Juan Carlos Uzal, Director for Valoriza in Castilla-La Mancha.
Valoriza will upgrade the fleet of street cleaning and waste collection vehicles in Puertollano, and will update 1,600 bins and 160 trashcans in the town and take in their yearly maintenance. It will also allot 5.3% more staff to increase service frequency and manage the local drop-off recycling site.
Valoriza will replace all vehicles and machinery and part of the new fleet will be upgraded to be more eco-efficient and powered by electricity. The fleet will generate less pollutant emissions
sustituirá todos los vehículos y la maquinaria, parte de ellos ecoeficientes propulsados por energía eléctrica. La flota generará menos emisiones contaminantes y será mucho más respetuosa con el medio ambiente.
Technological innovations in the vehicles and machinery make the equipment able to self-diagnose and communicate work and performance data in real time, which facilitates service management and control tasks at al all times.
The new bins are noteworthily easy to use. Moreover, they are designed for easy, agile and efficient cleanup and maintenance in optimal conditions.
Valoriza promotes diversity and labor inclusion of people with disabilities or at risk of social exclusion as part of its commitment to equal access to opportunities. Thus, this service will include staff from special hiring centers or labour inclusion organizations.
Over €2,000 million backlog
With this new contract, Valoriza reinforces its waste management and street cleaning business, with over 400 municipalities in Spain (Madrid, Barcelona, Santa Cruz de Tenerife, Albacete, Toledo, Cádiz, Soria, Guadalajara, and more) and Colombia. The company’s backlog is higher than €2,000 million in total and provides service to over 4.5 million citizens.
We won a National Innovation Award 202213/02/2023
Today, Manuel Manrique, Chairman of Sacyr, received the National Innovation and Design Award in the Large company category, from their Majesties, King Felipe and Queen Letizia of Spain.
Diana Morant, Minister for Science and Innovation, and Adrian Barbón, President of the Principality of Asturias, attended the award-giving ceremony held in Avilés, among other authorities.
These awards, given by the Spanish Ministry for Science and Innovation, recognize Sacyr’s business model, that “uses innovation as a foundational and strategic value”.
“To us, innovation is a driver and generator of competitive advantages. It’s a tool that helps us prepare for the future through new ways of designing, building and managing our infrastructures and services”, Manrique explained.
With this award, the Government of Spain acknowledges how Sacyr faces the digitization and ecological transition challenges to find new business opportunities based on open innovation and public-private collaboration
45 innovation projects
In 2022 we developed 45 innovation projects with a budget of over €13 million. Nearly 350 Sacyr professionals are involved in innovation-related initiatives.
Out of a total 11,500 companies, Sacyr joined the other 483 companies as a member of the index in 2023.03/02/2023
"We continue to see an increase in both interest and membership globally, reflecting a shared goal of transparency in gender-related metrics”, he added.
To construct the GEI, Bloomberg assesses gender equality practices in companies across five pillars: leadership & talent pipeline, equal pay & gender pay parity, inclusive culture, anti-sexual harassment policies, and external brand.
Some of the greatest challenges in traditionally male-dominated fields are opening the doors to female talent and ending the glass ceiling. Sacyr is above the industry average in indicators such as new hires, percentage of women in the workforce, and women in executive and middle management roles.
The company, that obtained the highest possible score in disclosure, positioned itself as the highest-scored in the transport infrastructure industry and got remarkable results in the ‘Equal pay & gender pay parity’ chapter.
“For Sacyr, this new milestone represents the recognition of our commitment to equality and talent, both cornerstones of the 2021-2025 Strategic Plan”, highlighted Patricia Martínez, Chief People Officer at Sacyr.
Committed to gender equality
As part of its commitment to equality, Sacyr has a Diversity, Equality and Inclusion Policy and a Protocol for the prevention and action in cases of harassment and discrimination, as well as an action plan to increase women in leadership.
Additionally, Sacyr also sponsors STEM education programs for women and girls and is signatory of the UN Women's Empowerment Principles and participates in the Target Gender Equality program, both Global Compact initiatives.