Sacyr increases its concessionary profile and raises its EBITDA to €680 million (+25%)28/02/2020
Sacyr achieved an EBITDA of €680 million in 2019, up by 25% compared with the previous financial year. Revenue grew by 10% over the year, to €4.17 billion.
The net profit generated by the businesses was €120 million (+48%), but the group’s share of net income was -€298 million, due to the impact of -€354 million caused by the holding in Repsol. This is exclusively an accounting impact, which does not affect the company’s cash flow, the operation of the businesses, the dividend or the group’s strategy. The active management of derivatives that protect the participation in Repsol has allowed monetizing more than 70 million euros of cash for the group.
In 2019, Sacyr made progress in the achievement of all its objectives. Sacyr placed the focus on the concessionary businesses, and this is reflected in its income statement: 80% of EBITDA, amounting to €538 million, came from concessionary activities in the past year.
In addition, the growth of the main indicators was accompanied in 2019 by an improvement in the profitability of the businesses, which is another of Sacyr’s key objectives. The EBITDA margin increased by two percentage points over the year, reaching 16.3%.