Sacyr's P3 activity success boosts construction backlog to record high €10.6 billion

  • Sacyr increased its construction backlog by 42% in 2024. 71% comes from other Sacyr projects, in line with the objectives in the 2024-2027 Strategic Plan.
  • The project backlog for Sacyr Concesiones has doubled in the past year, increasing from €3,787 million to €7,480 million.

By 2024 year-end, Sacyr Engineering and Infrastructure had a record backlog of €10.6 billion, 41% more than by 2023 year-end. In addition, Sacyr's construction business line had contract awards, which are pending signing, worth another €2,607 million.

Sacyr's success in winning new P3 project awards has boosted its project backlog to an all-time high.

71% of this project backlog is from Sacyr P3 projects, compared to 51% the previous year. One of the goals in the 2024-2027 Strategic Plan was precisely to achieve 70% of its project backlog to be for its own P3 projects.

The €10,606 million backlog of Sacyr Engineering and Infrastructure exceeds the previous record, which was reached in 2009, at €8,324 million.

The project backlog for Sacyr Concesiones has increased by 98% in the past year, from €3,787 million to €7,480 million.

In 2024, Sacyr has contracted projects and works for €3,134 million euros, of which €2,286 million (73%) are from Sacyr Concesiones’ projects. Noteworthy contract awards signed in 2024 include the I-10 Calcasieu River Bridge project in Louisiana (USA), Lima’s Peripheral Ring Road (Peru), the new Velindre Cancer Centre in Wales, five sections of the A21 and A5 highways in Turin (Italy) under a P3 project scheme, the Via del Mare highway P3 project (Italy) and the Northern Airport Network of Chile.

As for the projects won and that are still in the process of being awarded, the Turin Health Complex (Italy), Ruta 68 "Santiago – Valparaíso", Ruta del Itata, and the "Melipilla-Machoco" railway section, all in Chile; as well as the "Misterbianco-Paternó" railway section in Sicily (Italy) are worthy mentions. 

By geography, Italy is the country where Sacyr holds the largest backlog proportion with 26%, followed by the United States (16%), Chile (14%) and Spain (14%). 

P3 projects

The aim by the end of the 2024-2027 Strategic Plan among other objectives, is for Sacyr Engineering and Infrastructure to develop 70% of work for Sacyr Concesiones and 30% for third parties. 

The Engineering and Infrastructure business line focuses on projects for Sacyr Concesiones and Sacyr Water, allowing its activity to grow with the group's portfolio, optimize design and ensure the delivery of projects on time and quality. 

Attention to guarantee the success of any construction project, keeping contract balance between parties, compliance with deadlines and quality execution are all Sacyr Engineering and Infrastructure hallmarks. 

High-value assets

It is worth emphasizing the consolidation in strategic markets with new P3 projects in the United States, the United Kingdom and Italy, the increase in contract awards volume in Spain as part of Sacyr’s strategy, focusing on civil and construction works, as well as the contract awards in the Water activity.
 

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Floating concrete caissons and recycled materials at the Port of Bilbao

With this project, Sacyr provides agile and sustainable construction solutions to culminate three decades of works in Bilbao's port area. 

Sacyr has extensive experience in port and harbor construction that has now been transferred to the second phase of the Central Breakwater in the Expansion of the Port of Bilbao. With this project, Sacyr provides agile and sustainable construction solutions to culminate three decades of works in Bilbao's port area. 

Miguel Tejeda, Project manager, explains that the initiative stems from the growing demand for freight traffic at the port and the need to expand port facilities in the Pass due to the rezoning of port areas located upstream of the estuary for urban development purposes.

The Central Breakwater represents the final stage in the Expansion of the Port of Bilbao in the Outer Pass.

In the Summer of 2024, the Bilbao Port Authority awarded a joint venture, led by Sacyr Engineering and Infrastructure, the contract for this second phase. This phase encompasses a 310,000 sqm area and is scheduled to be completed within two years.

The project applies construction methods such as the use of reinforced concrete caissons and the development of a mass concrete superstructure, with an optimized design aimed at minimizing disruptions to existing port operations and maximizing the efficiency of the new quay. 
 

 


 

The floating dock is made of four towers that have been brought by ship from Lisbon.

 

Additionally, the project includes the construction of 1,011 as an meters of new berthing docks: 664 meters for the new A3 Quay and 347 meters for the existing A4 Quay.

The caissons will be manufactured on-site using the Sacyr Uno floating dock.

The dock measures 56 meters in length, 36 meters in beam, and 15.9 meters in depth. During the process, the designed prop will be adjusted afloat, utilizing the naval stability of the caisson to optimize the slab construction for the subsequent caisson. 

The floating dock comprises four towers and 16 ballast tanks, enabling the platform to be submerged to the desired depth. This allows for smooth formwork sliding and ensures the stability of the entire assembly.

The main construction works include the fabrication of new concrete caissons and their subsequent filling with sand dredged from maritime deposits. Additional activities include constructing the breakwater, creating pier backs with land-based placement of riprap, executing the seaside and landside superstructures, extending the rainwater drainage network and installing port equipment.

The second phase will focus exclusively on building the vertical quay using reinforced concrete caissons topped with a mass concrete superstructure. 18 concrete caissons in total will be constructed using a floating platform or caisson-builder that facilitates continuous production.

Once completed, the caissons will be floated to their designated positions at the quay. They will be anchored by filling their cells with water until they sink to rest on the prepared foundation. Afterward, the cells will be filled with material, the joints will be sealed using concrete piping, and the gaps between the caissons will be filled with gravel.

 


 

Environmentally Friendly Construction


The project has undergone an Environmental Impact Assessment and has received the corresponding Environmental Impact Statement (EIS). It incorporates measures to mitigate turbidity during construction, such as the use of containment barriers and anti-turbidity curtains. Air quality and noise levels will also be closely monitored.

Furthermore, the filling material for the esplanade will be sourced from excavation surpluses from nearby projects.

The materials to fill the caissons will be extracted from a marine area parallel to the Petronor dike, located two miles off the coast to the north, spanning approximately 7.9 square kilometers.

Extensive Port Construction Experience


Sacyr has considerable expertise in port infrastructure projects, such as the extension of the Punta Sollana dock in the Port of Bilbao, the jetty at the Port of Langosteira in A Coruña, the protective works and Cruise Ship Dock at the North Extension of the Port of Valencia, the expansion of the Port of Garrucha (Almería), the fishing port of Blanes (Girona), and the Port of Marín.

Sacyr's maritime bases have allowed the company to develop many projects in the Azores Islands.

Members of the Sustainability and Corporate Governance Committee
Name Position
María Jesús de Jaén Beltrá Chairman
Elena Jiménez de Andrade Astorqui Director
Luis Javier Cortés Domínguez Director
Demetrio Carceller Arce Director
Adriana Hoyos Vega Director
Ana María Sala Andrés Secretary non director
Alfonso Aguirre Díaz- Guardamino Vice secretary non director

Code of Ethics and Conduct

Our Code of Ethics and Conduct includes guidelines for the professional and personal conduct that the Board of Directors of Sacyr, S.A. considers necessary to create value for our shareholders, investors, employees, Group companies, and other stakeholders.

This Code is the basis and foundation of the Sacyr Group Regulatory Compliance Model for Criminal Prevention and Competition Defence and its implementing regulations.The oversight of the Model correct functioning corresponds to the Audit Committee, which has the support of the Regulatory Compliance Unit for its executive management.

We provide convenient access to this Code of Ethics and Conduct in order to ensure that not only our employees, executives, and directors, but also our clients, suppliers, partners and all other stakeholders understand and share the values, commitments and standards that guide our actions.

Code of Ethics and Conduct - 26730 Kb

Codigo Ético e de Conduta - 26739 Kb

Year Share Capital (€) Number of Shares
2025 796,857,798 796,857,798
2024 779,906,655 779,906,655
2023 683,083,887 683,083,887
2022 653,467,691 653,467,691
2021 629,055,895 629,055,895
2020 604,572,039 604,572,039
2019 582,005,888 582,005,888
2018 553,555,329 553,555,329
2017 533,110,718 533,110,718
2016 517,430,991 517,430,991
2015 517,430,991 517,430,991
2014 502,212,433 502,212,433
2013 465,914,792 465,914,792
2012 443,728,374 443,728,374
2011 422,598,452 422,598,452
2010 394,152,216 394,152,216
2009 304,967,371 304,967,371
2008 304,967,371 304,967,371
2007 284,636,213 284,636,213
2006 284,636,213 284,636,213
2005 274,470,634 274,470,634
2004 266,153,343 266,153,343
2003 245,810,851 245,810,851
2002 154,764,041 154,764,041

Compliance policies

The commitments we assume under our Code of Ethics and Conduct are developed in the Group’s internal regulation, which is also part of our Regulatory Compliance Model for Criminal Prevention and Competition Defence.

The main policies for the development of our Code of Ethics and Conduct are as follows:

Policy regarding Regulatory Compliance for Criminal Prevention - 248 Kb

Política de Cumprimento Normativo em matéria de Prevenção de Delitos - 276 Kb

Policy Regarding Regulatory Compliance for Competition Defence - 254 Kb

Política de Cumprimiento Normativo em Matéria de Defesa da Concorrência - 283 Kb

Policy regarding Anti-corruption and Relations with Public Officials and Authorities - 227 Kb

Política Anticorrupção e de Relações com Funcionários Públicos e Autoridades - 236 Kb

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