Slide 1: Results Presentation 2023
Results Presentation 2023 29 February 2024 Pedemontana Veneta Highway, Italy
Slide 2: Table of Contents
Table of Contents 1 Highlights 2 Operating Performance 3 Performance by Business Area 4 Annexes Rutas del Este, Paraguay
Slide 3: Highlights
1 Highlights Idaho University, USA
Slide 4: Sacyr in 2023
Highlights Sacyr in 2023 Global infrastructure company with strong future growth 3,254€M 220€M 26years 93% 3rd Value of concessional Distributions from Average EBITDA from Largest P3 transport assets concessional remaining life of concessional infrastructure 31 Dec. 2023 assets our concessions asset
Slide 5: Milestones 2023: Focus on Concessions
Highlights Milestones 2023 Focus on Concessions Creating value Relevant assets in the portfolio New Concession in the United States Commissioning of I-10 Calcasieu River Bridge Pedemontana-Veneta Highway 1st transportation One of the most relevant infrastructure concession in projects in our por
Slide 6: Great success in contract signings in recent months
Highlights Milestones 2023 Focus on Concessions Great success in contract signings in recent months More than 600€M Equity committed over the next 4 years Contracts awarded and signed Pipeline I-10 5 1st transportation concession in the USA. One of the largest public-private 2 projects in terms of
Slide 7: Active management of portfolio
Highlights Milestones 2023 Active management of portfolio Successful Pipeline sale of assets Ongoing operations Chile • Documentation delivered to potential buyers. • Non-binding offers are expected to be received in March 24. Autovía del Eresma Autopista N6 Colombia • Finalization phase of proces
Slide 8: Shareholder remuneration: continued dividend growth
Highlights Milestones 2023 Shareholder remuneration Continued dividend growth 4.9% 0.136€/share Profitability in 2023 +18% 0.136€/share 0.115€/share +20% Scrip Dividend 1x45 0.058€ 91% shares per chose January 2023 right shares 0.096€/share Scrip Dividend 1x38 0.078€ 93% shares per chose July 2023 r
Slide 9: Sharp reduction in recourse net debt
Highlights Milestones 2023 Sharp reduction in recourse net debt Other milestones <0.8x Ratio: Recourse Net Debt / (Recourse Recourse Net Debt 848 (€M) EBITDA + Distributions from RND / concessional assets) 4.4x x (Recourse EBITDA + Distributions from concessional assets) +148€M Equity Invested in 20
Slide 10: Sustainability
Highlights Milestones 2023 Sustainability Generating positive impact Score 69 AENOR Diversity and Social, Inclusion Management Environmental Sustainable Financing and Economic Framework JANUARY DECEMBER SA8000 Certification for the protection of human and labour National Innovation and rights Design
Slide 11: Results 2023: Focus on Profitability and Cash Generation
Highlights Results 2023 Focus on Profitability and Cash Generation EBITDA EBITDA Margin Operating Net Profit Cash Flow 1,523 €M 33% 848 €M 153 €M +7%* +430bp* +20%* +39%* *The 2022 income statement has been restated by accounting for VSM and Facilities as discontinued operations. Pedemontana, Italy
Slide 12: Main Figures 2023
Highlights Main Figures2023 Million Euros 2023 2022* Chg.% Revenues 4,609 4,977 -7% EBITDA 1,523 1,428 +7% % EBITDA from concessions 93% 91% +200 bp EBITDA Margin 33.0% 28.7% +430 bp Net profit 153 111 +39% Operating Cash Flow 848 705 +20% *2022 income statement has been restated by accounting for V
Slide 13: Operating Performance
2 Operating Performance Hospital Antofagasta, Chile
Slide 14: We continue to generate value
Operating Performance We continue to generate value 93% EBITDA from concessional assets Evolution Total Group EBITDA 1,523€M Operating Cash Flow 93% s/Total +20% 848 EBITDA Group from Concessional Assets 705 1,411€M s/1,523€M EBITDA concessional assets EBITDA ex-concessional assets 93% 7% 2022* 2023
Slide 15: Recurrent, predictable and growing cash generation
Operating Performance Recurrent, predictable and growing cash generation Distributions from concessional assets Compound annual growth rate +43% 220 201 130 115 52 2019 2020 2021 2022 2023 Pedemontana, Italy 15
Slide 16: Financial Strength
Operating Performance Financial Strength Financial Operations After the financial close Syndicated Loan: Redemption of convertible bond 175€M Expansion to 500€M ✓ Acceptance of 99.7%. ✓ Elimination of short positions and reduction ✓ Loan amounting to 300€M. of volatility. ✓ Increase of the liquidity
Slide 17: 2023 Net Debt Evolution
Operating Performance 2023 Net Debt Evolution Million Euros 939 -446 7,490 -1,523 719 -1,446 1,096 6,408 -421 EBITDA WORKING OTHER ADJ. FINANCIAL INVESTMENTS DIVESTMENTS FINANCING CAPITAL +TAX RESULT FLOW, FOREX & OTHER DEC.22 DEC.23 Funds from operations (FFO) -848 719 939 -446 -1,446* (*) 898€M co
Slide 18: 2023 Recourse Net Debt Evolution
Operating Performance 2023 Recourse Net Debt Evolution Million Euros 45 7 -220 173* 546 -112 124 85 -446 67** 269 -75 194 EBITDA WORKING TAXES DISTRIBUTIONS FINANCIAL INVESTMENTS SCRIP DIVESTMENTS FINANCING PAYMENTS CAPITAL FROM EXPENSES DIVIDEND FLOW, FOREX RECEIVED CONCESSIONS & OTHER JANUARY.24 2
Slide 19: Financial Discipline
Operating Performance Financial Discipline Recourse Net Debt Sharp 848 836 (€M) 4.4x RND/ reduction (Recourse EBITDA + Distributions from concessional assets) in 681 3.1x Recourse 3.0x 546 Net Debt 1.7x 269 0.8x 194 0.6x 2023 2019 2020 2021 2022 2023 Proforma 2023 Proforma: includes the 75€M working
Slide 20: Performance by Business Area
3 Performance by Business Area Perth desalination plant, Australia
Slide 21: Concessions: Consolidating our leadership
Performance by Business Area Concessions Consolidating our leadership REVENUES 2,158 2,072 +4% Resilient, predictable and stable model 70 concession assets with an average life of 26 years Operating revenues 1,502 1,365 +10% Infrastructure Concessions 1,304 1,172 +11% Water Concessions 198 193 +3% C
Slide 22: Commissioning of concession assets 2022 and 2023
Performance by Business Area Concessions Commissioning of concession assets 2022 and 2023 99% 100% ✓ Italy 100% Colombia ✓ 100% ✓ 100% 100% ✓ ✓ Paraguay Uruguay Chile 100% ✓ 99% 100% 100% 22 *Commissioning 2024
Slide 23: Concessions – Breakdown by Country
Performance by Business Area Concessions – Breakdown by Country Million Euros PAIS COUNTRY C. NEGOCIOS REVENUE EBITDA EBITDA ACTIVOS ASSETS Italy* 603 472 4 Chile 510 249 19 Colombia 649 309 6 Spain 335 139 22 Uruguay 278 112 2 Mexico 91 43 2 Paraguay 136 51 1 Oman 35 14 1 Peru 39 13 1 Brazil 51 4 1
Slide 24: Valuation: Growth platform with continuous value creation
Performance by Business Area Valuation: Growth platform with continuous value creation Million Euros +443€M 260 361 3,254 (41) (302) 286 165 (252) (34) 2,811 Valuation Rolling Forward Inflation Exchange Refinancing and Δ Interest Higher growth Δ Discount Growth from Valuation ID 2021 Rate Asset Rota
Slide 25: Engineering & Infrastructure
Performance by Business Area Engineering & Infrastructure Million Euros 2023 2022 Chg. Maintenance of REVENUES 2,734 3,162 -14% Operating Profitability EBITDA 570 518 +10% EBITDA Margin 21% 16% ― We continued to consolidate the division's profitability (EBITDA margin of Backlog (vs Dec. 2022) 7,456
Slide 26: Engineering & Infrastructure projects
Performance by Business Area Engineering & Infrastructure Study, Design and Extension Construction Construction AVE Almería Construction Construction Construction Catania, Sicily Section Line 8 FGC several Real Estate Railroad Integration Tranvía Palermo El Loa International “Canal del Dique” Railwa
Slide 27: Annexes
4 Annexes Puente 25 de Abril, Lisboa, Portugal
Slide 28: Income Statement 2023
Annexes Income Statement 2023 Consolidated Income Statement Thousand euros REVENUE 4,609,428 4,976,968 -7.4% Other income 241,635 267,182 -9.6% Total operating income 4,851,063 5,244,150 -7.5% External and Operating Expenses -3,327,798 -3,816,030 -12.8% EBITDA 1,523,265 1,428,120 6.7% Depreciation a
Slide 29: Balance Sheet December 2023
Annexes Balance Sheet December 2023 Thousand euros Thousand euros NON CURRENT ASSETS 10,422,363 11,933,034 -1,510,671 EQUITY 1,750,021 1,358,413 391,608 Intangible Assets 86,749 98,347 -11,598 Shareholder's Equity 795,759 535,662 260,097 Concessions Investments 1,514,656 1,520,034 -5,378 Minority In
Slide 30: Income Statement by Business Area 2023
Annexes Income Statement by Business Area 2023 Consolidated Income Statement 2023 Thousand euros REVENUE 2,158,020 2,734,016 -282,608 4,609,428 Other income 63,160 175,373 3,102 241,635 Total operating income 2,221,180 2,909,389 -279,506 4,851,063 External and Operating Expenses -1,281,467 -2,338,91
Slide 31: Income Statement by Business Area 2022
Annexes Income Statement by Business Area 2022 Consolidated Income Statement 2022* Thousand euros REVENUE 2,071,807 3,161,999 -256,838 4,976,968 Other income 35,881 222,006 9,295 267,182 Total operating income 2,107,688 3,384,005 -247,543 5,244,150 External and Operating Expenses -1,229,142 -2,865,7
Slide 32: Net Debt
Annexes Net Debt Significant reduction of commercial paper by -150€M Million Euros Dec. 23 Dec. 22 Chg. Project Finance 6,139 6,944 -805 Ex-Project Finance (with recourse) 269 546 -277 Total Net Debt 6,408 7,490 -1,082 Classification Maturity Schedule Fixed Rate Debt 2024 2025 2026 2027 2028 & 78% f
Slide 33: Concessions – Breakdown of assets
Annexes Concessions – Breakdown of assets Aunor (51%) Palma - Manacor (40%) Viastur (70%) Road 34 Turia (56%) Barbanza (100%) Eresma (51%) Transport Hub 2 Velindre Hospital (31%) Arlanzón (55%) H. Parla (51%) H. Braga (1%) H. Noreste (51%) Hospital 9 H. Haçor (1%) Int. Plaza Elíptica (51%) Idaho Uni
Slide 34: Concessions Traffic
Annexes Concessions Tr a ff i c 88,381 88,586 34
Slide 35: Concessions Revenues Breakdown
Annexes Concessions Revenues breakdown € thousand Revenues CHILE COLOMBIA 346,204 418,805 359,804 355,366 -3.8% 17.9% Breakdown SPAIN URUGUAY MEXICO 173,917 119,332 88,667 170,033 83,826 74,862 2.3% 42.4% 18.4% PARAGUAY 59,228 43,420 36.4% PERU 37,414 40,732 -8.1% BRAZIL 16,939 9,677 75.1% USA 12,41
Slide 36: Alternative Performance Measures
Annexes Alternative Performance Measures The Sacyr Group presents its earnings in accordance with International Financial Reporting Standards (IFRS). The Group also provide certain additional financial measurements, known as Alternative Performance Measures (APMs) used by management in decision-maki
Slide 37: Note
sacyr NOTE The financial information contained in this document is prepared accordingto the International Financial Reporting Standards. This information has not been audited and therefore maybe modified in the future. This document doesnot constitutean offer, invitation orrecommendationto buy, sell