Sacyr Sa · BME:SCYR
Sacyr Sa — Q1 2025 Earnings Presentation
34 slides from Sacyr Sa's earnings presentation, Apr 30, 2025
Slide 1: Results Presentation Q1-2025
Results Presentation Q1-2025 April 30, 2025
Slide 2: Table of contents
Table of contents Highlights Operating & financial performance Performance by business area Annexes I75 – USA
Slide 3: Highlights
Highlights Valles del desierto - Chile Milestones Shareholder Corporate Sustainability & Main Figures Q1-2025 remuneration Governance environment Q1-2025
Slide 4: Increasing cash generation and boosting the concession business
Milestones Q1-2025 Increasing cash generation and boosting the concession business Revenues Net Operating EBITDA from Net invested profit Cash Flow concessions Equity 1,059€M 27€M 240€M 92% 1,920€M +7% vs Q1-24 +5% vs Q1-24 +8% vs Q1-24 +180bp vs Q1-24 +135€M vs Dec.24 4
Slide 5: Milestones Q1-2025
Milestones Q1-2025 New Contract: Signing of Project Divestment of Annual General Rutas del Este contracts Commissioning assets in Colombia Meeting 2025 Sacyr Concesiones has Ruta del Itata (Chile). - In January, Sacyr Binding offers Sacyr's AGM will take signed a new contract Concession contract Con
Slide 6: Shareholder remuneration
Shareholder remuneration July 2025 Scrip dividend January 2025 First dividend payment in cash 1 x 40 0.078€ 87% 0.045€ gross per share will be shares per right chose shares proposed at the 2025 Annual General Meeting, thus fulfilling the commitment made in the Strategic Plan 24-27 6
Slide 7: Corporate Governance
Corporate Governance Commitments accomplished We are making progress Reach at least ✓ New Board skill matrix 40% in gender diversity ✓ New Board composition post General on the Board Shareholders Meeting 2025: Separation of functions Independence Diversity Chairman – Chief Executive Officer 50% 43%
Slide 8: Sustainability and environment
Sustainability and environment Through our initiatives we seek to achieve the goals established by the Sustainable Development Goals (SDGs). Sustainalytics Standard & Poor’s MSCI We reduce risk We improve our We improve rating Low 18.3 score 74 A CDP Percentile Top 1% Platinum We improve rating 87 A
Slide 9: Main Figures Q1-25
Main Figures Q1-25 Million euros Q1-25 Q1-24 Chg. REVENUES 1,059 994 +6.5% EBITDA 301 339 -11.4% % EBITDA from concessions 92.2% 90.4% +180bp NET PROFIT 27 25 +5.2% Operating Operating Cash- Cash Flow Flow / EBITDA 240€M 80% +8% vs Q1-24 vs 65% Q1-24 9 Ruta 78 - Chile
Slide 10: Operating & financial performance
Operating & financial performance Via del Mare - Italy Equity Net debt Growth Concessions evolution opportunities
Slide 11: Equity Concessions
Equity Concessions Boosting growth Increased investment due to successful contract awards in 2024 Equity invested in concession Total equity* invested in projects Q1-25 concession projects 135€M 1,920€M 135€M 1,920€M 1,798€M 37€M 34€M 1,623€M Q1-2023 Q1-2024 Q1-2025 2023 2024 Q1-2025 11 *Total equit
Slide 12: Net debt Evolution Q1-25
Net debt Evolution Q1-25 -86 204 6,891 -301 157 6,926 -150 211 WORKING OTHER ADJ + FINANCIAL NET FINANCING FLOW, DEC 2024 EBITDA CAPITAL TAXES RESULT INVESTMENT FOREX AND OTHER MAR 2025 6,891 Funds from operations (FFO) -240 157 204 -86 6,926 12
Slide 13: Recourse net debt Evolution Q1-25
Recourse net debt Evolution Q1-25 Increased investment for growth during the quarter 140 -20 8 -26 3 -35 276 13 70 146 -23 FINANCING WORKING DSTRIBUTIONS FROM FINANCIAL INVESTMENT BARBANZA SCRIP DEC 2024 EBITDA CAPITAL TAXES CONCESSIONS EXPENSES (*) DIVESTMENT DIVIDEND FLOW, FOREX MAR 2025 & OTHER 1
Slide 14: Growth opportunities
Growth opportunities CANADA • Windsor Hospital • Ontario science museum USA • Trans-Canada highway • I-285 East Express Lanes (Georgia) • I-285 West Express Lanes (Georgia) • I-24 Southeast Choice Lanes (Tennessee) ITALY • I-77 South Express Lanes (North Carolina) • Novara Hospital • I-495 Southside
Slide 15: Performance by business area
Performance by business area Ruta de la Fruta - Chile
Slide 16: Leaders in the development of greenfield projects
Million euros Q1-25 Q1-24 Chg. Leaders in the development of REVENUES 376 378 0% greenfield projects ▪ Operating income and EBITDA decreased by 16% and 21%, Operating income 271 322 -16% respectively, during the quarter, mainly due to the accounting impact of the evolution of the financial assets Co
Slide 17: Consolidated experience in projects of high technical and technological capacity
Consolidated experience in Q1-25 Q1-24 Chg. Million euros projects of high technical and REVENUES 691 559 +24% technological capacity Italian concessional assets 164 94 n.a. ▪ Revenue(+24%) and EBITDA (+17%) increased thanks to the start-up of the Italian concession asset A-21, which Pure Constructi
Slide 18: Sacyr Agua as an engine for the development
Q1-25 Q1-24 Chg. Million euros Sacyr Agua as an engine for the REVENUES 63 57 +11% development ▪ Double digit growth in revenues (+11%) and EBITDA (+13%) EBITDA 13 12 +13% due to the new contracts awarded in 2024, mainly in Levante and the Canary Islands, and the good performance of the internationa
Slide 19: Conclusions
Conclusions Increased operating cash flow (+8%) Boosting concessional growth with higher investment in the quarter Continuing with the sale process of the Colombian assets Accomplished our commitment to the recourse net debt ratio < 1x 19
Slide 20: Annexes
Annexes A3 Highway - Italy
Slide 21: Map Concessional assets
Map Concessional assets Roads 35 Aunor (51%) Palma – Manacor (40%) Viastur (70%) Velindre Cancer Centre (31%) Transport Hubs 2 Turia (56%) Pedemontana-Veneta (49%) Eresma (51%) Braga Hosp. (1%) A3 (49%) Arlanzón (55%) Hospitals 10 Hacor Hosp. (1%) A21 (49%) Parla Hospital (51%) Vilafranca Hosp. (1%)
Slide 22: Valuation Evolution
Valuation Evolution Increased value since ID21 which shows the robustness of our platform + €740M €3,551M (83) (40) 310 311 269 FX rate Interest rates and other Inflation (298) Incr. Future Growth 443 Increase 440 Discount rates (302) €2,811M Rolling Forward Value extracted New projects and Deriskin
Slide 23: Distributions from current portfolio
Distributions from current portfolio Sacyr will receive distributions amounting to €17,000M (+6.5x the company’s market cap) Increased distributions of + €1,000M thanks to 4 new projects post-Investor Day 24 € 800 M Distributions 2025 - 2033 €3,500M € 700 M € 600 M Total distributions €17 billion €
Slide 24: Equity and distributions
Equity and distributions Committed Equity and Distributions including new contracts post-ID24 Concessional distributions Committed equity 4 new concessions post Investor Day 24 2025 2026 2027 2028 2029 2030 2031 2032 2033 Distributions to Sacyr +830 €M (2025-2027) +2,700 €M (2028-2033) Committed equ
Slide 25: Income Statement Q1-2025
Income Statement Q1-2025 Co nso lidat ed I nco me St at ement Chg. % Q1 2 0 2 5 Q1 2 0 2 4 Thousand euros 25/ 24 REVENUE 1,0 5 9 ,0 27 9 9 4 ,4 30 6 .5 % Other income 72,541 55,0 77 31.7% Tot al operat ing income 1,131,5 6 8 1,0 4 9 ,5 0 7 7.8 % External and Operating Expenses - 831,0 21 - 710 ,218
Slide 26: Consolidated balance sheet March 2025
Consolidated balance sheet March 2025 A sset s Mar. Dec. Chg. Equi t y & Li abi li t i es Mar. Dec. Chg. Thousand euros 20 25 20 24 25/ 24 20 25 20 24 25/ 24 Thousand euros NON CURRENT ASSETS 11,16 3 ,111 11,14 6 ,2 5 8 16 ,8 5 3 EQUITY 2 ,0 8 6 ,5 6 0 2 ,0 6 2 ,6 4 4 2 3 ,9 16 Int angible Asset s 8
Slide 27: Income Statement by Business Area Q1-2025
Income Statement by Business Area Q1-2025 Co nso li dat ed Inco me St at ement Q1 2 02 5 Sacyr Sacyr Sacyr Holding & Tot al Thousand euros Concesiones Ing & Inf ra. Wat er Adjust ment s REVENUE 376,458 690 ,724 63,343 -71,498 1,0 59,0 27 Ot her income 3,352 72,899 2,256 -5,966 72,541 Tot al operat i
Slide 28: Income Statement by Business Area Q1-2024
Income Statement by Business Area Q1-2024 Co nso li dat ed Inco me St at ement Q1 2 02 4 Sacyr Sacyr Sacyr Holding & Tot al Thousand euros Concesiones Ing & Inf ra. Wat er Adjust ment s REVENUE 378,231 558,914 56,846 439 994,430 Ot her income 5,505 44,073 2,162 3,337 55,077 Tot al operat ing income
Slide 29: Net debt
Net debt Million euros Mar 25 Dec. 24 Chg. Project finance 6,650 6,745 -95 Ex-project finance (recourse net debt) 276 146 130 Total net debt 6,926 6,891 35 Ex-Project Fixed-rate finance 276€M 77% Floating-rate 4% By mitigated by Debt interest inflation type rate 14% Project finance Floating-rate 6,6
Slide 30: Traffic Concessions
Traffic Concessions A ccumulat ed A DT 1 T 2025 1 T 2024 Chg . % 25 /24 SHA DOW TOLL HI GHW A Y SPA I N AUTOV.TURIA CV-35 42,774 41,0 32 4.2% PALMA MANACOR MA-15 24,975 24,660 1.3% VIASTUR AS-II 25,393 25,244 0 .6% AUTOV. ARLANZÓN 19,691 19,752 -0 .3% AUTOV. NOROESTE C.A.R.M. 13,891 13,548 2.5% AUTO
Slide 31: Pedemontana-Veneta, A3 and A21 Impact
Pedemontana-Veneta, A3 and A21 Impact Eng & Infra ex Pedemontana Pedemontana Veneta A3 A21 Million euros A3 & A21 Revenues 65 23 76 527 EBITDA 46 8 38 26 EBITDA margin - - - 4.9% 31
Slide 32: Main contract awards Q1-25 Sacyr Ingeniería e Infraestructuras
Main contract awards Q1-25 Sacyr Ingeniería e Infraestructuras Construction Northern Construction link Residential Railway Alameda airport I-75 construction for Melipilla network in Florida various developers 271 €M 199€M 24€M 118€M Construction of Joan Construction of Construction Avda. Constructio
Slide 33: Alternative Performance Measures
Alternative Performance Measures The Sacyr Group presents its earnings in accordance with International Financial Reporting Standards (IFRS). The Group also p rovide certain additional financial measurements, known as Alternative Performance Measures (APMs) used by management in decision-making and
Slide 34: Note
Note The financial information contained in this document is prepared according to the International Financial Reporting Standards. This information has not been audited and therefore may be modified in the future. This document does not constitute an offer, invitation or recommendation to buy, sell