Q1 2026 Sacyr SA Earnings Call Transcript
Key Points
- Revenue increased by 5% compared to the first quarter of 2025, reaching EUR1.116 billion.
- EBITDA rose by 9% to EUR327 million, with a margin improvement of 90 basis points.
- Net profit attributable to the parent increased by 40%, reaching EUR38 million.
- The company secured a significant 30-year concession for the Ontario Science Centre in Toronto, marking its first concession in Canada.
- Sacyr's inclusion in the Stoxx Europe 600 enhances its visibility and strengthens its positioning within the European investment community.
- The sale of Colombian assets resulted in a reduction of EUR40 million in EBITDA and cash flow for the quarter.
- The company faces challenges from inflationary pressures, which could impact future tenders and projects.
- Provisions increased to EUR40 million at the holding level due to a prudent approach in the current uncertain context.
- The seasonal effect of negative working capital amounted to EUR90 million, impacting cash flow.
- The debt concerning the Panama project remains unresolved, with expectations for updates only by early 2028.
Good morning. I'm Pedro Siguenza, Chief Executive Officer of Sacyr. Joining me today is Carlos Mijangos, the company's Chief Financial Officer. Thank you all for attending Sacyr's earnings call for the first quarter of fiscal year 2026. I will begin my presentation by addressing the key financials for the quarter.
Revenue increased by 5% compared with the first quarter of 2025, reaching EUR1.116 billion. EBITDA rose by 9% to EUR327 million, representing a margin of 29.3%, 90 basis points higher than in Q1 2025. Operating cash flow amounted to EUR223 million, up 12% year-on-year, excluding the impact of the sale of the Colombian assets.
These financial results demonstrate that the new awards now entering operations are replacing the contribution of the assets divested in Colombia that are no longer in the company's perimeter. Net profit, attributable to the parent, recorded a strong increase of 40%, reaching EUR38 million. Net records debt remained below 1 times, maintaining a solid financial
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