Sacyr is awared the urbanization works in south al Meshaf (Qatar) for 114 million euros.17/05/2019
The Qatar State Company Asghal has awarded the consortium formed by Sacyr Engineering and Infrastructure and Medgulf the urbanization works in South Al Meshaf (Qatar) in the south of Doha for a total of 114 million euros.
The project will consist of the urbanization of the surrounding area of 117 hectares located in the south of Doha, 5 kilometers west of Al Wakrah (Qatar), which will include 9.5 kilometers of roads and a waste collector by building a 6.5-kilometer-long micro tunnel, with a diameter of 2 and 2.4 meters located at a depth of 25 and 38 meters.
The works will commence next June and will have a duration of 42 months.
Sacyr already has other projects underway in the country, such as the design and construction of the building works of QEZ-1, as well as the sewerage of plots A and B in the same area, among others.
This project South Al Meshaf is yet another example of the company’s consolidation and commitment in this strategic market.
Results of the First Quarter of 201910/05/2019
- The results of the first quarter of the financial year reflect the company's focus on profitability and cash generation.
- he multinational company strengthens its concessional profile: 77% of EBITDA comes from low demand risk assets.
- The company's future revenue backlog reached €42.912 billion (+3%). 72% of this is international.
- The strength of the results and the business have allowed the company to resume regular dividend distributions. In February, the first dividend was paid on the back of the 2018 results, under the scrip dividend modality.
Sacyr posted an EBITDA of €143 million in the first quarter of 2019, up 28% compared to the same period last year. Net profit stood at 38 million € between January and March, with an increase of 10%.
The strong growth posted in the first quarter of the year confirms the success of Sacyr's strategy. This strategy places the focus on profitability, financial discipline, consolidation in our strategical markets and business with a clear concessionary profile. Indeed, 77% of EBITDA comes from low demand risk assets.
During the first quarter, Sacyr recorded a significant increase in EBITDA in its business divisions: Concessions (+27%), Engineering and Infrastructure (+40%), Services (+24%).
Furthermore, business profitability, measured by the EBITDA margin, grew from 12.6% in the first half of 2018 to 14.7%.
Sacyr's turnover was €972 million, up +10% compared to last year. This growth is a result of the success in contracting registered by all business areas during the last financial years.
The future income backlog closed the first quarter at 42,912 million euros (+3%). The backlog reflects the strong internationalization of the company: 72% is already located outside Spain. This figure rises to 88% in the case of Engineering and Infrastructure and 82% in the case of Concessions.
During 2019, Sacyr is awarding significant contracts in its strategic markets. This is the case, for example, of the Los Vilos - La Serena highway (Chile), the extension of the Edinburgh tramway (United Kingdom), two sections of high-speed railways in Spain and Portugal and the new terminal of the Tenerife Airport.
The group's net debt stood at €4,177 million at the end of the first quarter, with a slight increase compared to the end of 2018 (€4,045 million). The net recourse debt, of €1,124 million, is reduced compared to the 1,138 million at the end of last financial year.
Sacyr disinvested its stake in Itínere Infraestructuras in the first quarter, for which it obtained a total of €202 million. Furthermore, after March, it completed the rotation of 49% of seven Chilean assets for a total amount of €440 million.
During the first quarter, the company completed the return of the advances to the Panama Canal Authority.
The company keeps a regular shareholder compensation policy. Last February it paid the dividend on account of the 2018 results through a scrip dividend: one share for each 35 or €0.051 per right. 95% of the capital chose to receive shares, which proves investor confidence in the stock.
Change by business area
Concessions.- Sacyr Concessions posted a turnover of €218 million, up 51% compared to that of the first quarter of 2018.
Of the total, €117 million came from concession revenues, which grew 22% as a result of assets operation growth, the start of Tepual airport (Chile) operations and the improvement in highway traffic figures. The remaining 101 million (+108%) come from construction revenues, which are growing strongly due to the execution of projects in Colombia, Chile and Mexico.
EBITDA reached €75 million, up 27%.
The backlog of future revenue reached €28.064 million (+4%), with its international business accounting for 82% of this figure.
During the first quarter, Sacyr was awarded two major projects in Chile, the Los Vilos-La Serena highway (€864 million) and the Challacuta Airport (€203 million).
Engineering and Infrastructure.- The turnover of this division reached €456 million, with 14% growth compared to the same period of 2018.
EBITDA increased 40% to €41 million and the EBITDA margin improved to 9%, compared to 7.3% in January-March 2018.
The infrastructure backlog reached €6,554 million, up 6%, and represents 43 months of activity. 88% of the backlog is located outside Spain.
It is worth noting the award of relevant projects in Chile, such as the construction of the Sótero del Rio hospitals (€328 million) and Cordillera Province (€153 million). In addition, Sacyr was awarded the construction of the Évora high-speed line in Portugal (€130 million) and the stretch of AVE Arejos-Níjar in Almería (€98 million). In the UK, the extension of the Edinburgh tramway will be performed (€120 million) and in Tenerife (Spain) the building linking terminals 1 and 2 of Tenerife South Airport (€44 million) will be built.
Services. - The turnover of this division grew by 5%, to €266 million. EBITDA reached €24 million, 24% more compared to 2018, on the back of the contribution from all areas. Environment (+15%), Multiservices (+98%) and Water (+20%). The EBITDA margin grows and is up from 7.7% to 9%.
The Services backlog totaled €5,836 million, similar to the figure registered in March 2018 (€5,899 million).
29% of the backlog is international. In this sense, the contracts obtained in Peru for the conservation of roads in the first quarter stand out, with a volume of €19 million, in Chile (€13 million) and Portugal (€7 million).
Industrial.- The revenue of the Industrial division reached €110 million (-17%) and EBITDA totaled €7 million (-25%). The company has completed large backlog projects, such as Nuevo Mundo and La Pampilla (Peru).
The Industrial backlog reached €2,458 million, up 9% compared to the first quarter of 2018. 11% of which is international.
Sacyr Industrial has signed two BOP contracts for the construction of two 84 MW wind farms in Bio Bio and 155 MW in Antofagasta. Both projects total €61 million.
In addition, the construction of a 5 MW pilot geothermal plant in Laguna Colorada (Bolivia) has been awarded for €15 million.
Sacyr wins new building projects totalling 60 million euros30/04/2019
Sacyr Engineering and Infrastructures has won several residential construction projects in Estepona, Málaga, Huelva and Mataró totalling 60.5 million euros.
For Kronos Home, we will build the "Oasis 325" development in Estepona (Málaga), which will have 127 design homes with storage rooms, garages, heated pool and community pool in the first phase. The project consists of six blocks with 4 graded floors, each distributed in 2 basements, ground floor, 2 floors and attic.
For Metrovacesa, Sacyr Infrastructures will build the "Edificio Halia” complex, in the area of Torre del Río on Málaga’s beach front. The property will include 99 homes, parking lots, storage rooms and swimming pools; it will be arranged on 3 floors below ground, ground floor, 6 floors and an attic. The project has been carried out by the architects Mario Romero González and Javier Higuera Mata of HCP Arquitectos Urbanistas.
We are going to build the second phase of the development that we are already running called "La Joya", for SDIN Residencial, in Huelva. It consists of two blocks on the ground floor and 7 floors. The basements are already completed as they belong to the first phase of this development. The project was drafted by architects Teresa Escribano and Gustavo Águila of Arquitectura Valparaiso studio. The surface area to be built will be 9,190 m2.
In Mataró (Barcelona), we are going to build the "Mirador del Maresme” for Port Mataró: a residential complex of 97 homes with 15 shops and parking lots distributed in 3 blocks of 10 storeys.
Sacyr and Farrans are awarded the extension of the Edinburgh tram23/04/2019
The joint venture formed by Sacyr and Farrans has been awarded the Infrastructure and Systems contract which covers the design and construction, systems integration, testing, commissioning and bringing into operational service of the Edinburgh Tram York Place to Newhaven project.
This 4.7 kilometer new stretch will have eight stops and will extend the tram line to the north of the city, which currently connects the airport with Haymarket Station and Princes Street in the City Centre. The project total budget stands at 207 million pounds (241.5 million euros).
The Early Contractor Involvement stage will begin in mid May, when the SNF Joint Venture will commence to work in collaboration with the other contractor (utilities diversion), Morrison Utility Services, the City of Edinburgh Council and the other stakeholders to develop the design and program of the works.
16 million users
The construction of the infrastructure will begin in September this year and will have a duration of 40 months. The first passengers are projected to use the new line at the beginning of 2023.
When it begins to operate, the new line connecting the airport with the northern area of Newhaven will serve 16 million people per year.
Growth in the United Kingdom
The United Kingdom is one of the markets in which Sacyr plans to grow in the coming years. Last year, the Spanish multinational was awarded the contract for the design and construction of the A6 highway between Dungiven and Drumahoe in Northern Ireland, with a total budget of 229 million pounds (258 million euros).
The project includes the design and construction of a 26 kilometers highway. The works, which began last October, will have a duration of four years.
Sacyr is also currently delivering the design and construction of the Ulster University new campus, in Belfast.
Sacyr adopts corporate responsibility practices for Biodiversity in Peru17/04/2019
Sacyr Engineering and Infrastructure, in order to protect biodiversity, has carried out a conservation project on the plant species located in the project site of the Andrés Avelino Cáceres Sports Complex of Villa María del Triunfo, Lima, for the 2019 Pan American and Parapan American Games.
The aim of this project is to guarantee the survival of all the specimens that were found in the work area and to increase the area of plant cover with creeping plants.
In this environmental project, over 800 specimens belonging to more than 20 different species found in the area were relocated in a nursery, for their care and conservation, being able to duplicate the number of specimens a few months later, until more than 1,600 specimens were obtained, which have been integrated into the landscaping of the sports complex.
Simultaneously, we have been working on the propagation of creeping plants in the sandy areas of the project where there was no vegetation cover, since they are able to fully cover the ground in an abundant way through cuttings of mother plants. The results that are being obtained are equally successful, having revegetated 1,322 m² presently and with an estimated 2,800 m² to be reached. It is important to stress that creeping plants require little maintenance and a minimum amount of water to survive, therefore they are used as an alternative to traditional turf.
With this species protection environmental alternative, Sacyr contributes to achieving Goal 15 of the Sustainable Development Goals (SDG) of the UN, by adopting significant measures that reduce the effect on natural habitats, avoid the loss of biological diversity and protect threatened species. And Goal 12 by adopting responsible production and consumption measures, by promoting the efficient use of water.
Sacyr will build the los Arejos-Níjar (Almería)high speed railway section for 98 million euros01/04/2019
Adif Alta Velocidad ha adjudicado a Sacyr Ingeniería e Infraestructuras la construcción del tramo Los Arejos – Níjar (Almería), dentro del Corredor Mediterráneo de Alta Velocidad Murcia – Almería. El contrato tiene un importe de 118,5 millones de euros y un plazo de ejecución de 32 meses.
El trazado, de 17,7 kilómetros, cuenta con 9,2 km en doble vía (plataforma de 14 m) y otros 8,5 km en vía simple (plataforma de 8,5 m).
Las principales actuaciones del tramo son:
- 10 viaductos, de los que tres son de grandes dimensiones (más de 900 m de longitud)
- 5 pasos superiores sobre carreteras o caminos
- 11 pasos inferiores
- un muro de protección.
Además, dentro del proyecto se incluye el movimiento de tierras (demoliciones, desmontes, terraplenes, capa de forma y subbalasto); el drenaje longitudinal y transversal de la plataforma; y la reposición de servicios eléctricos, de telefonía y servidumbres.
Sacyr cuenta con una amplia experiencia en obras de alta velocidad ferroviaria con 400 km ejecutados (40 km con tuneladora TBM y 35 km de túnel convencional). Ha participado en 42 proyectos con la puesta en operación de 739 km.
En la línea Madrid-Barcelona-frontera francesa (tramos Sants - La Sagrera, Torrassa - Sants, Sant Joan Despí - Sants, nudo de Castellbisbal, Massanes-Maçanet, Hospitalet - La Torrassa en Barcelona; tramos Cornellá del Terri-Vilademuls y Borrassà - Figueres (Girona).
En la conexión de LAV Madrid-Castilla La Mancha - Comunidad Valenciana-Región de Murcia los tramos: Alzira-Algemesí y Orihuela- Colada de la Buena Vida.
También ha realizado la entrada a Málaga de la línea ferroviaria de alta velocidad y ha participado en las obras de los túneles de Guadarrama y del valle de Abdalajís.
Sacyr wins a 34 Million -eruo contract to build a 205-km Road in Peru19/03/2019
Sacyr, through Sacyr Engineering and Infrastructure, will take on the technical work and construction of the 205-kilometer road in Áncash.
The company was awarded this project, put out to tender by the Department for Transport and Communications, and forming part of the fifth phase of road building under the “Reconstrucción con Cambios” [Rebuilding with Changes] initiative. The contract has a budget of over 126 million soles (around 34 million euros).
It is expected that the project will get underway in March 2019, and will continue over a period of 16 months.
It is the largest of the six road reconstruction packages designed to improve connections within the region and in the country as a whole, in the wake of the damage wrought by the El Niño Costero phenomenon in 2017.
A more secure infrastructure
The construction work to improve road communications will comprise: preparatory work, earth moving, road surfacing, art work and drainage work, complementary work, transportation of materials and waste, the installation of road signaling and safety measures, and environmental protection.
“With this project in Áncash, we are committed to providing a quality infrastructure for all users of this road, linking safer towns, and resulting in both shorter journey times and in improved connections. The project will, without question, make a positive contribution to the reconstruction of the country’s road network following the disastrous consequences of El Niño Costero”, stated Carlos Martínez-Almeida, General Manager of Sacyr Engineering and Infrastructure in Peru.
Sacyr will build the building joining terminals 1 and 2 the Tenerife sur airport for 44 Million euros15/03/2019
SACYR Engineering and Infrastructure will build the building joining T1 and T2 of the Tenerife Sur airport for 44.16 million euros The project, awarded by Aena, will increase the useful space of the airport by 14,000 m2 and will include a complete transformation of the airport facility by integrating both buildings into a single terminal area.
In addition to being responsible for the distribution of the outer urbanization of the terminal area to adapt to the new configuration, the works also include the construction of a modern security control, which is centralized and based on a single level, with two large side billing areas in terminals T1 and T2. As a result, the current T1 will readjust the passenger flow and expand the commercial area.
The building will also be equipped with two new entrance ramps to accommodate four new boarding gates.
The works, which will begin in April, will have a duration of around 23 months and will be carried out in phases so that the impact on the operation of the airport is minimal.
Sacyr has extensive experience in the implementation of airport projects in Spain, Portugal and Angola with over 1,600 million euros of works carried out, including the T4 at the Adolfo Suárez Madrid Barajas Airport, Murcia, Ciudad Real. It is currently carrying out the improvement works for the El Tepual (Puerto Montt, Chile) and Chiclayo (Peru) airports.
Sacyr Engineerign and Infraestructures is awarded new building projects in Madrid for 65 million euros16/01/2019
Sacyr Engineering and Infrastructures has won several construction projects in Madrid totaling 65 million euros. Among these the construction of three residential developments with 380 homes and the complete renovation of the Manoteras 12 building in Madrid stand out.
For Onix Capital Partners, we will carry out the complete renovation and expansion of seven floors of the building located on Avenida de Manoteras 12, to turn it into a sustainable and efficient office building aspiring to the highest Leed and Well Gold certifications. To this end, we will undertake the renovation of the existing 5,310 m2 and will expand the area to reach 21,200 m2 built with the most modern construction techniques.
For Inmoglaciar, we will build the Ciudad Futura Residential development in Arganda del Rey (Madrid), which will consist of 103 homes, business premises, garages, storage rooms and community swimming pool. The project will be developed in two blocks, one located to the north in an inverted U with basement, four floors and an attic and another to the south in linear distribution with basement, seven floors and an attic.
And for promoter AEDAS Homes, Sacyr Infrastructures will carry out the Orellana I and Orellana II developments in Alcalá de Henares (Madrid). Each of these residential projects will consist of a five-floor, U-shaped building with 74 houses (148 units in total) with the common areas and the swimming pool.
And for Promyva Inmuebles IV, we will build Residential Cubic II located in Rivas Vaciamadrid: 129 homes with storage rooms, garage and common areas. This open-block residential building, intended for homes with garages, storage rooms and common areas, will have six floors and two floors below ground.