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2024

  • SIS signs 320 km in highway projects in Italy

    SIS signs 320 km in highway projects in Italy
    02/05/2024

    SIS consortium, comprising Fininc and Sacyr, has signed the contract to operate and manage the Italian A21 Turin-Alexandria-Piacenza and A5 Turin-Ivrea-Quincinetto highways, the connecting highway A4/A5 Ivrea-Santhià and Turin’s Beltway Highways System (Sistema Autostradale Tangenziale Torinese, SATT) and the Turin-Pinerolo stretch. These roads, already in operation, add up to 320 km in total.

    This contract, awarded by the Italian Ministry for Infrastructures and Transport, is expected to generate traffic revenues over €2.9 billion over the 12-year concession term. This Design Build contract includes improvement works on the road sections with an estimate investment of €800 million.  

    These road networks are considered strategic for connectivity in Northern Italy, as they connect Turin to other large cities in one of the country’s most industrialized areas. 

    Overall, these road infrastructures have an estimated average daily traffic of close to 33,000 vehicles. 

    Growth in Italy

    Italy is a strategic home market for Sacyr. Through SIS, the group operates four P3 road projects: the Pedemontana-Veneta, the A3 Naples-Pompei-Salerno, the Via del Mare and the just signed A-21.

    Sacyr Concesiones is an industry benchmark in infrastructure development and is ranked 3rd in PWF’s World’s Largest Transportation Developers ranking.

    The company currently manages an international and diversified project portfolio, valued at more than €3,250 million

  • Sacyr reaches €339 million in Ebitda (+15%) and €221 million in operating cash flow (+28€)

    Sacyr reaches €339 million in Ebitda (+15%) and €221 million in operating cash flow (+28€)
    29/04/2024

    In Q1 2024, Sacyr reached €339 million in EBITDA, 15% higher than in the same period the previous year, and €221 million (+28%) in operating cash flow.  

    Sacyr’s successful transformation into a P3 firm had its reflection in the first three months of 2024 with a steep increase in profitability rates: EBITDA margin soared to a record 34.1%, 590 b.p. more than in first quarter 2023. 

    The statements reflect the company’s ability to continually create value thanks to its focus on P3 assets, which now make up 90.4% of the company’s EBITDA

    Similarly, net profit reached €25 million, 6% more than in Q1 2023. Revenues were €994 million

    Recourse net debt stood at €322 million at Q1 close, in which net investment was €38 million. 

    New P3 contracts and project deliveries

    In Q1 2024, Sacyr continued to strengthen its P3 activity and its growth platform with new assets and project deliveries.

    Sacyr, as SIS consortium, has signed the operation and management contract over five sections of the A-21 and A-5 highways in the Turin area. This P3 project, requiring a €1.1 Bn investment, has an operation term of 12 years. 

    In addition, a consortium of which Sacyr is a member was selected to develop a 34.8 km urban highway in Lima, Peru. This project calls for a €3.1 Bn investment and will span 30 years. 

    In recent weeks, the company reached financial close of the new Velindre Cancer Centre P3 project (Wales, United Kingdom), a state-of-the-art medical facility that will start construction later this year and be fully operational in April 2027. 

    In 2024, Sacyr delivered the Ferrocarril Central de Uruguay project, with a €900 million investment, and will shortly bring to operation the last stretch of Pamplona-Cúcuta highway (Colombia), with a total investment of more than €590 million. 

    Asset valuation

    Sacyr’s continual value creation-driven business model is reflective in Sacyr Concesiones’ asset valuation, which, as of December 2023, was close to €3.3 Bn, €443 million higher than the valuation performed for the 2021 Investor Day.

    Sacyr has 57 P3 infrastructure assets in its portfolio, with an average lifecycle of 28 years. The company had very positive performance over the past months with new contract awards: the aforementioned Peripheral Ring Road in Peru, a section of the I-10 in the United States, the Vía del Mare and A-21 highways in Italy, and El Loa Airport in Chile.

    As a result, Sacyr has consolidated its position, according to PWF magazine, as the world’s third transportation P3 projects developer, and one of the largest P3 companies in the world.

    Enhanced shareholder remuneration

    In January 2024, Sacyr paid out a scrip dividend of €0.062 per share or one new share per every 50 old ones. 92% of shareholders chose to cash out their dividends in shares. 

    Evolution by activity 

    Concesiones. - Sacyr Concesiones obtained €217 million in EBITDA (+16%), thanks to the contribution of highway projects that were brought to operation, such as Rutas del Este (Paraguay), Ferrocarril Central (Uruguay) and several sections of Pamplona-Cúcuta (Colombia).  

    Sacyr continues to demonstrate its capability to deliver new P3 assets. Since 2022, ten assets have become operational, and Pamplona-Cúcuta highway (Colombia) will fully enter operation in upcoming days.

    Engineering and Infrastructure.– The strategy of Sacyr’s construction unit prioritizes profitability over volume, with EBITDA increasing by 10% to €101 million. The EBITDA purely linked to the construction activity, not accounting the Pedemontana and A3 projects, grew by 2%.

    EBITDA margin for Sacyr’s construction activity stood at 4.9%, improving on the 4.3% in Q1 2023. 

    Backlog for this activity grew 21% to €9.1 Bn. 62% of this comes from Sacyr Concesiones projects.

    Water.– Water is an activity with great growth potential for Sacyr due to the necessity to invest in climate change and drought mitigation efforts. In its first quarter as a separate activity, the Water unit reached revenues of €57 and a €12 million EBITDA.

    Sacyr Water is one of the world’s largest desalinated water producers, supplying 10 million people globally. 

    In this quarter, Sacyr Water was awarded the contract to operate the Alicante desalination plant in Spain and started the operation and maintenance of the Carboneras desalination plant in Almeria, Spain. 
     

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  • Sacyr Proyecta is awarded the EPCM contract for an aluminum recycling plant in Torija (Guadalajara)

    Sacyr Proyecta is awarded the EPCM contract for an aluminum recycling plant in Torija (Guadalajara)
    12/03/2024

    Hydro has chosen Sacyr Engineering and Infrastructure, through its subsidiary Sacyr Proyecta, to execute the EPCM (Engineering, Procurement & Construction Management) contract for a new aluminum recycling plant in Torija (Guadalajara).

    The new facility will have an annual production capacity of 120,000 tonnes of recycled aluminum and will be capable of treating up to 70,000 tonnes of post-consumer scrap per year, enabling the supply of low-emission recycled products to key European sectors such as transport, automotive, building, construction, renewable energy installations and consumer durables markets. Production is expected to begin in 2026.

    With the construction of this state-of-the-art aluminum recycling plant, Hydro, together with its suppliers, are contributing to the decarbonization of the industry, generating low-carbon aluminum, which is essential for achieving the European green transition. The project requires an investment of €180 million.

    "This contract is a reflection of the trust that Hydro places in Sacyr Proyecta after having collaborated in previous phases of the project. We take pride in helping our customer achieve their demand goals for new responsibly produced materials with a low carbon footprint, such as recycled aluminum from this new plant. We are very aware of our role and seek to contribute to a greener and more sustainable future with our interventions," says Raúl López Perdiguero, General Manager of Sacyr Proyecta.

    For Miguel Ferrón, Project Manager at Sacyr Proyecta, "this project is a great challenge for us due to its demanding deadlines, especially those related to civil construction".

    About Sacyr Proyecta

    Sacyr Proyecta has more than 350 professionals and specializes in energy projects, with a focus on the business areas of oil and gas, energy, chemicals and petrochemicals, LNG, and renewable hydrogen.

    It is currently developing, among other projects, the new LNG terminal for HEH in Stade (Germany), the expansion of the LNG facilities of Fluxys in Zeebrugge (Belgium); a gas compressor station in Egypt for GASCO; a Repsol Polyethylene plant in Puertollano (Spain) and a Repsol Advanced Biofuels plants in Spain.

    Sacyr fights climate change through decarbonization and adaptation as fundamental pillars of its Climate Change Strategy, with the commitment to reduce absolute greenhouse gas (GHG) emissions and achieve carbon neutrality by 2050.

  • Sacyr reached €153 million (+39%) in net profit and Ebitda of €1.5 billion (+7%) in 2023

    Sacyr reached €153 million (+39%) in net profit and Ebitda of €1.5 billion (+7%) in 2023
    29/02/2024

    2023 was the year when Sacyr completed its strategic shift towards infrastructure P3 management with the incorporation of new assets into its portfolio and the sale of its two main services units: Valoriza Servicios Medioambientales and Sacyr Facilities. 

    The 2023 balance sheet is reflective of the company’s continual value creation strategy thanks to said focus on P3 assets, currently making up 93% of the group’s EBITDA

    The EBITDA increased 7% in 2023 to €1.5 billion, while profitability (measured as EBITDA margin), grew in 430 basis points to a record 33%.  

    Operating cash flow skyrocketed by 20% and stood at €848 million

    Net profit reached €153 million, 39% higher than the €111 million obtained in 2022. Turnover was €4.6 million.

    P3 asset valuation: €3.3 billion 

    The sustained value creation strategy in Sacyr’s business model is reflected on Sacyr Concesiones’ asset valuation. This figure was €3.3 billion at 2023 year-close, €443 million higher than in the valuation performed for the 2021 Investor Day. 

     

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  • The road born from a volcano

    The road born from a volcano
    14/02/2024

    After the volcano erupted, the lava devastated several towns in the southwest of the island, destroying roads and isolating the the Aridane Valley residents. One of the affected roads was the San Simón-Tajuya connection, part of the LP-2, a 33 km route that we first built in the south of the island. In the eruption, a 3-km section of this road was buried with a flow of up to 50 meters.

    At the request of the Government of the Canary Islands, we got to work to reconnect the affected towns as soon as possible by building an emergency road that detoured from the main route affected by the lava.

    The new road is 2.2 km long with one lane in each direction and is built adjacent to the lava flow while the volcano was erupting.

    Javier Donado, from the project production team, tells us more details about this key project for the island.

  • Sacyr will develop an integrated management system for Hospital Infraestructure

    Sacyr will develop an integrated management system for Hospital Infraestructure
    07/02/2024

    The objective of the Cognitive Hospital project is to develop a smart platform based on innovative technologies such as AI, advanced algorithms, BIM, Big Data, etc. Development and implementation of this project will optimize design, build and operation and maintenance processes, improve energy efficiency and air quality in our hospital assets, as well as reduce the environmental footprint linked to our infrastructures in both the construction and operation stages.

    Sacyr Concesiones leads this project along with eight other companies and the participation of Sacyr Engineering and Infrastructures and corporate services.

    Organizations involved are Sener Mobility, Fracttal, 4Digital, Open Ingenius, Áptica, Tecnalia’s tech centers, UPM and CSIC.

    This is an ambitious project with a €6.1 million budget and €2.9 million in aid funds from the Community of Madrid. This funding is part of the 2023 call to promote public-private cooperation in R&D&I with PPP projects with a traction effect. They are co-financed by the European Regional Development Fund within the ERDF operational program of the Community of Madrid for the 2021-2027 period.

    Implementation at the Hospital del Henares 

    Its implementation will take place at the Hospital del Henares, managed by Sacyr Concesiones, with a three-year execution deadline (2024-2027).

    Antonio Ramírez, Innovation Manager at Sacyr Concesiones said: "Through the application of innovative technologies, we can achieve more efficient hospital management."

    All of this will bring significant benefits to all stakeholders involved in the management and operation of the hospital, as well as for patients and clients.

    Ana Esteban, Innovation Manager at Sacyr Ingeniería e Infraestructuras, highlights that the Cognitive Hospital will "introduce innovation in the center's operation and maintenance environments and improve the patient's experience."

    This project represents a new milestone in public-private partnerships, a cornerstone of Sacyr's business model, maximizing the value offered to our client beyond contractual requirements and bringing together the best internal and external talent.

  • Sacyr recognized with double "A" score for transparency on climate change and water security

    Sacyr recognized with double
    06/02/2024

    Sacyr has been recognized for leadership in corporate transparency and performance on climate change and water security by global environmental non-profit CDP, securing a place on its annual ‘A List’. 

    Based on data reported through CDP’s 2023 Climate Change and Water Security questionnaires, Sacyr is one of a small number of companies that achieved a double 
    ‘A’
    , out of over 21,000 companies scored. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. 

    In 2023, over 740 financial institutions with over US$136 trillion in assets requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. A record-breaking 23,000 companies responded.

    A detailed and independent methodology is used by CDP to assess these companies, 
    allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don’t disclose or provide insufficient information are scored an F.

    Fernando Lozano, Corporate General Manager at Sacyr said "being included in CDP’s A List for the second year in a row is a result of our team’s commitment to fulfill our goals to reduce our CO2 emissions, consuming renewable energy and applying good practices throughout the entire value chain. This year, we obtained a double A score for the first time thanks to our meticulous and responsible water resource management”. 

    Sacyr is committed to a continuous improvement strategy in water resource management and has a strategic goal to reduce its own water consumption in all activities by at least 10% before 2025, both in high and low water-stressed areas. In addition, in 2023, Sacyr renewed its water footprint verification certificate covering all its global activities. Thanks to water treatment and production activities, Sacyr has a highly positive impact, improving water quality and providing freshwater in areas with very high water stress.

    In the fight against climate change, Sacyr works on decarbonization and adaptation as fundamental pillars of its Climate Change Strategy. It is committed to reducing its Scope 1 and 2 greenhouse gas (GHG) emissions by 42%, and Scope 3 emissions by 25% by 2030, aiming for carbon neutrality before 2050. These objectives are validated through the SBTi and are aligned with limiting the increase in global temperature to 1.5°C.

    Sherry Madera, CEO of CDP, said: “Congratulations to all the companies on CDP’s A List, and those companies that started or accelerated their journey towards environmental transparency in 2023 – we saw a 24% increase of disclosures last year and that trajectory is to be applauded. It is only by laying the groundwork of disclosure that companies can show they are serious about the vital part they play in securing a net-zero, nature-positive future. 

    Earning a place on the A List is about more than the score. It’s an indication of high quality, complete data that equips companies with a holistic view of their environmental impact, serves as a baseline for transition plans and – crucially – enables them to follow through on their ambitions. As we move deeper into the Decade of Action, and as CDP continually raises the bar for what represents environmental leadership, the work of A List companies is never complete. We look forward to seeing all companies turn their commitments into further and more meaningful and effective action.”

    The full list of companies that made this year’s CDP A List is available here: 
    https://www.cdp.net/en/companies/companies-scores 

  • On the final stretch on the Almudévar reservoir build

    On the final stretch on the Almudévar reservoir build
    30/01/2024

    We are in the final stretch of the construction of the Almudévar reservoir (Huesca, Spain), which will contribute flow to the irrigation system of Alto Aragón.

    Currently, the professionals at Sacyr Engineering and Infrastructure are working on the automation of the monitoring system, electrical connections, plantations, archaeological excavations, construction of a hermitage, urbanization, and roadworks. After the completion of the project, the commissioning phase will begin, involving the filling of the reservoir.

    More than 120 people have worked daily in the joint venture led by Sacyr Engineering and Infrastructure, along with Lantania, Vías y Construcciones, and Sogeosa. The project's budget is 113 million euros.

    Disassembly of a medieval wall

    The operation has already started disassembling the medieval wall of the old hermitage of Santo Domingo, under the supervision of Cultural Heritage. The wall will be relocated to a hill to be reassembled in a new hermitage that will be built safe from flooding. Meanwhile, archaeological excavations are underway at the Morrón del Villar site.

    The site consists of a core of defensive structures around a tower of Islamic origin, a Romanesque church built from the 12th century onwards, and, around this complex, a series of medieval Christian houses that were likely abandoned due to demographic crises in the 14th century.

    Capacity of 169 cubic hectometers

    The Almudévar reservoir will have a capacity of 169.7 cubic hectometers and will receive the surpluses from the Gállego and Cinca rivers. The reservoir is closed with two dams, for which more than 7.5 million cubic meters of materials, mostly argillites, have been used. In total, it will flood more than 1,152 hectares.

    The conveyance channel has a length of 1,300 meters, transporting water to a reversible station equipped with six pumps, plus a seventh in reserve. The station's design flow is 24 m³/s, conveyed to the reservoir through two parallel pipes of 2,500 mm in diameter. Additionally, the station will have two 5MW turbines to generate electrical energy from the released water.
     

  • Sacyr obtains "Calculo-Reduzco-Compenso" badge for the third year in a row

    Sacyr obtains
    29/01/2024

    The Spanish Ministry for the Ecological Transition and Demographic Challenge has awarded Sacyr with the ‘Calculo-Reduzco-Compenso’ triple badge for the third year in a row. Companies can obtain this badge for calculating and tracking their carbon footprint for a four year-period minimum, having a carbon emission reduction plan in place, effectuating their carbon emission reduction goals and participating in a CO2 absorbtion project.

    The Spanish Office for Climate Change manages the carbon footprint registration forms and companies can subscribe it voluntarily. 

    Sacyr has reduced its average emission intensity in the 2020-2022 period by 74% compared to the 2019-2021 period for Scope 1 and 2 emissions. This reduction is compliant with the company’s firm commitment to carbon footprint goals in the Sacyr Sustainable Action Plan 2021-2025. This plan defines Sacyr’s goals referring to climate change fighting, environmental and social protection in its influence area. 

    Sacyr has compensated part of its 2022 carbon emissions through a CO2 absorption project consisting of reforesting an area in Villanueva de Abajo (Palencia), which will allow to regenerate degraded or natural spaces which have lost their forest cover. This project also contributes to reducing erosion, conserving biodiversity and job creation in the area. 

    The scope of the ‘Calculo-Reduzco-Compenso’ badge encompasses all the activities of Sacyr and its subsidiary companies in Spain. Sacyr continues to work to meet its most ambitious climate commitment goal: being carbon neutral by 2050.

    Climate change strategy

    Sacyr’s Climate Change strategy includes the commitment to have reduced its absolute greenhouse gas (GHG) Scope 1 and 2 emissions by 42% and Scope 3 emissions by 25% by 2030. 

    These goals are aligned with the goal of limiting global warming to 1.5 ºC above pre-industrial levels. The Decarbonization plan guides Sacyr’s actions with over 300 initiatives within its business units’ activities in all locations. 

  • Major project milestones at Belfast Transport Hub

    Major project milestones at Belfast Transport Hub
    12/01/2024

    Since 2021, JV Farrans Sacyr, has been developing the construction works of the Belfast Grand Central Station, set to replace the existing Europa Buscentre and the Great Victoria Street train station. 

    This infrastructure is expected to cater for around 20 million passenger journeys a year.

    Following the completion of the structure in July, the Farrans-Sacyr JV team has achieved notable progress:

    • All eight tracks are installed, with platform fit-out well underway.
    • The station terrazzo flooring is 75% complete, and the ceiling support system is 90% in place.
    • Glass installation is at 85% complete, incorporating two advanced rain protection systems, with final panels currently being fitted in select areas.
    • Work is currently underway to facilitate the final connections of public services.

    Looking ahead to Q1 2024, planned enhancements include the installation of the final fins of the roof, the five lifts that the building will benefit from, and the internal fit final finishes, including doors, toilet fit outs and floor finishes.

    Works are currently underway to allow the final utility connections to take place, and once complete the site wide external finishes will commence, including the development of footpaths and the road network.

    Social Value and Community benefits

    Commissioned by Translink, Northern Ireland's public transport service operator, this project encompasses a range of social and collaborative initiatives. Our commitment to social value is a key driver in this contract, we aim to generate enduring social value for the community. 

    Commmunity benefits initiatives include:

    • 29 individuals from under-represented groups have benefited from the project.
    • Engaged with 13 local Social Enterprises on the project. 
    • 58 education attainment events for 2,500 people
    • 65 Environmental Awareness initiatives on the project.
    • 26 health and well-being initiatives looking after our staff and workforce.
    • The project has raised over £20,000 for charity, through various events, from coffee mornings to mountain hikes.

    These initiatives have contributed to the project receiving the highest score in the Considerate Constructors Scheme award last October, reflecting our excellence in community relations management, environmental care, and employee care.

    For more information about Belfast Grand Central Station, visit the project page.

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