Sacyr increases EBITDA by 28% with a record backlog

The net profit for this fiscal year was - €189 million, mainly due to the change in the accounting method of the participation in Repsol (Sacyr's participation has gone from 8% to 3.1% after some of the derivatives over Repsol shares had reached maturity), and to the recording of a provision for the Radiales project.

This negative figure only has accounting effects and does not entail cashout flow.

In turn, the net income attributable to business activity increased 23% to € 111 million, despite the negative impact the exchange rates had on the P3 business.

The reduction of net recourse debt is a strategic priority, and in 2021 we took significant steps in that direction. Last fiscal year, we cut it down by 19%, to € 681 million. This amount fulfills the company's market commitments to reduce it below € 700 million. Net recourse debt has undergone a 40% reduction since 2018; back then it was at € 1.1 billion.

Sacyr achieved a record backlog in 2021, with € 11 billion of new contracts. In total, the revenue backlog amounted to nearly € 46 billion at the end of 2021, with a 17% increase.

Around 80% of this revenue backlog comes from P3 assets and their geographical distribution of the backlog is as follows: Europe, 46%; America, 51%; and other countries, 3%.

Last October, we announced that some of the derivatives over Repsol shares had reached maturity, thus, at the end of 2021 our participation in Repsol was reduced to 3.1%.

This reduction has simplified the company’s balance and allows to put more focus on its strategic activities.

The shareholders’ remuneration policy is one of the pillars of the 2021-2025 Strategic Plan. In 2021, Sacyr paid two scrip dividends with a share price of € 0.096 gross price per share, which represents a 4.6% dividend yield; this fulfills the company’s goals and market commitments.

Making Sacyr's activities sustainable is at the core of our decision making. In 2021, the Group has obtained excellent scores in international sustainability ratings, that situate us as industry leaders such as Sustainalytics, Standard & Poor's and CDP.

If you wish to learn more about these results in greater detail, please, refer to the attached documents or visit our website.

More on the 2021 results:    Shareholders and investors