Calcasieu Bridge Partners (CBP) (Sacyr, Acciona, and Plenary Americas) has commenced construction on the I-10 Calcasieu River Bridge Replacement P3 Project in Louisiana, which will modernize one of the most critical infrastructure corridors in the United States.

A groundbreaking event was presided over yesterday by Louisiana Governor Jeff Landry and attended by federal, state, and local officials, as well as consortium executives, including Rafael Gómez del Río, General Manager of Sacyr Engineering and Infrastructure.

Louisiana Governor Jeff Landry highlighted: “This project marks the largest transportation infrastructure investment in Louisiana history. This is an exciting day for Calcasieu Parish and for the entire State”.

The $2.3 billion project involves replacing the existing 1950s-era Calcasieu River Bridge with a state-of-the-art structure engineered to meet 21st-century demands. While the new bridge is under construction, the current bridge and its connecting ramps will undergo strategic upgrades to ensure continued service until the new bridge opens in 2031. The concession period is 50 years.

Glenn Ledet, Secretary of the Louisiana Department of Transportation and Development (LA DOTD), noted: “This massive undertaking requires unprecedented coordination between local industry, railroads, utility providers, and all levels of government”.

“I’m thrilled to join our partners to get shovels in the ground for this project and make travel more convenient in Southwest Louisiana”, added Sean McMaster, Federal Highway Administrator.

CBP Consortium

LA DOTD selected the CBP consortium, integrated by Sacyr (30%), Plenary Americas (40%), and ACCIONA (30%), for the concession contract of this project. The construction work will be executed by a Joint Venture (JV) of Sacyr (50%) and ACCIONA (50%).

The project includes the construction of six interstate highway lanes, various additional structures, the implementation of a free-flow tolling system, and the demolition of the existing bridge. This corridor constitutes the backbone of the U.S. energy sector.

The new infrastructure will enhance capacity and improve traffic comfort and safety. It is projected to serve over 90,000 vehicles daily by 2040.

The project is estimated to bring $3.29 Bn in economic impact to the region, create more than 16,000 jobs during its lifecycle, and generate $1.9 billion in labor income.

Sacyr obtained net profits of €38 million in the first quarter of 2026, a 40% increase compared to the same period in 2025.

Operating cash flow was €223 million in Q1 2026, a 12% increase year-on-year, excluding the cash contribution from assets divested in 2025. Concession assets, largely shielded from demand risk or equipped with mitigation mechanisms, contributed 92% of EBITDA.

Revenue reached €1,116 million (+5%) and EBITDA stood at €327 million (+9%).

Growth in Canada

In February, Sacyr secured its inaugural concession in Canada, the Ontario Science Centre, aligning with its strategy for expansion in English-speaking markets. This contract, valued at €645 million, carries a 30-year concession term.

Furthermore, in April, Sacyr formalized the concession contract for the Coquimbo desalination plant in Chile, a project requiring a €305 million investment.

Cash dividend increase

In January, Sacyr distributed a scrip dividend, offering one new share for every 80 existing shares, equivalent to €0.049 per right. 90% of shareholders opted to receive their dividend in Sacyr shares.

Sacyr will propose at its Annual General Meeting, scheduled for June 4 on second call, the approval of two cash dividends totaling €0.15, a substantial increase compared to the €0.045 cash dividend paid in 2025.

Of this amount, €0.10 is slated for payment next July, with the remaining €0.05 due in January 2027.

This move advances Sacyr's Strategic Plan commitment to distribute at least €225 million in cash to shareholders between 2025 and 2027.

In the first quarter, Sacyr successfully maintained its target recourse net debt to recourse EBITDA ratio (including concessional distributions) at or below one time for the trailing twelve months. Recourse net debt rose to €289 million at March-end.

The company refinanced its syndicated loan to €600 million (+€130M), improving pricing and extending maturity by two years to 2031. This operation was supported by 25 financial institutions, reflecting market confidence in Sacyr’s performance.

Performance by business area

Concessions.– Sacyr Concessions reported revenue of €463 million, marking a 23% increase year-on-year.

Operating revenues saw a 10% rise, while construction revenues surged by 58%, driven by progress on projects such as Ruta del Elqui and Buin Paine Hospital (Chile), the new Velindre Cancer Centre (United Kingdom), Accesos Asunción (Paraguay), and the Buga-Buenaventura highway (Colombia).

EBITDA reached €184 million (+7%), underpinned by robust operating performance, even after the divestment of assets in Colombia.

Engineering and Infrastructure.– The strategy for this business line prioritizes risk control and reduction in third-party projects. Consequently, the portion of the portfolio dedicated to Sacyr Concessions now accounts for 73%, aligning with the 2024-2027 Strategic Plan.

Revenue for the first quarter totaled €712 million (+3%), with EBITDA at €127 million (+8%). These gains reflect strong project advancement in the United Kingdom, Chile, and Spain.

The construction activity's EBITDA margin was 5%.

The total Engineering and Infrastructure backlog hit a record €12,996 million, a 4% increase from year-end 2025.

During the quarter, Sacyr was selected as one of the construction partners for the UK's Hospital 2.0 Alliance (H2A) program, a 12-year initiative with a budget of €42 billion.

Furthermore, Sacyr has forged a strategic alliance with Australian constructor Built to pursue projects in Australia. The joint venture of the two companies has been shortlisted for the Brisbane stadium construction (set to host opening and closing ceremonies for the 2032 Olympic Games) and was also awarded the Peel Health Campus project in Mandurah.

Water.– This business line also experienced significant growth, posting revenue of €76 million (+19%) and EBITDA of €16 million (+21%).

This double-digit expansion stems from robust operational performance and recent contract awards. Notable new contracts secured this quarter include projects in Huelva, Madrid, and Tenerife, totaling €84 million.

Additionally, Sacyr Water acquired Aigües de Esparraguera Vidal, which provides services to 23,000 residents in Esparraguera (Barcelona).

Finally, in April, Sacyr Water successfully closed the financing for the Salar del Carmen Reuse Water Plant, located in Antofagasta, Chile, for an amount of $460 million. The concession term for this project is 35 years.