Sacyr (SCYR) investor relations material

Executive summary

• Revenue for H1 2026 rose 9% year-over-year to €2,437M, with EBITDA up 9% to €708M and a margin of 29.1%.

• Net profit attributable to shareholders surged 157% to €78M, driven by the Colombia divestment and maturing concession assets.

• Cash dividend increased 122% to €0.10 per share; total shareholder distributions up 21% year-over-year.

• Concession asset valuation reached €4.6Bn, up 16% from 2025, with a target of €5.1Bn by 2027 and €9–10Bn by 2033.

• Strategic plan execution continues, with robust project pipeline and expansion in key markets including Canada, US, and Chile.

Financial highlights

• Operating cash flow increased 18% to €631M, excluding divested Colombian assets.

• Consolidated net debt stood at €6,788M at June 2026, up from €6,359M at end-2025, mainly due to new concession investments.

• Recourse net debt ratio remained below 1x, with recourse net debt at €264M at June 2026.

• Funds from operations contributed €631M in H1 2026.

• Market capitalization up 36% year-over-year to €3.77Bn.

Outlook and guidance

• Concession portfolio expected to reach €5.1Bn by 2027 and €9–10Bn by 2033.

• Projected total distributions from concessions of nearly €20Bn, up 17% year-over-year.

• Existing assets expected to generate €3.44Bn in distributions 2026–2033, with €1.92Bn net cash available after equity commitments.

• Average annual distributions projected at €430M–€484M through 2033.

• Strategic focus on expanding in the U.S., Canada, and Latin America, with multiple bids for major infrastructure projects.