Sacyr Sa · BME:SCYR
Sacyr Sa — Investor Day (October 2021)
82 slides from Sacyr Sa's investor day presentation, Oct 7, 2021
Slide 1: Investor Day
Investor Day 7th October 2021 sacyr.com sacyrconcesiones.com
Slide 2: The time to invest in Sacyr is now
The time to invest in Sacyr is now Strong commitment to reduce recourse net debt close to zero Sacyr Concesiones assets’ current valuation is €2.8bn 2
Slide 3: Today's speakers
Today´s speakers Manuel Carlos Rafael Manrique Mijangos Gómez del Río President & CEO CFO CEO Sacyr Group Sacyr Group Sacyr Concesiones Rodrigo Marta María Jiménez-Alfaro Gil Muñoz CFO General Manager of Head of M&A Sacyr Concesiones Strategy, Innovation Sacyr Group and Sustainability Sacyr Group 3
Slide 4: Contents – Investor Day 2021
CONTENTS – INVESTOR DAY 2021 SACYR OUR OUR A CLOSER CONCLUSION A UNIQUE SUCCESSFUL COMPETITIVE LOOK AT INVESTMENT ENTRY IN THE STRENGTHS ITALY OPPORTUNITY US MARKET 1ST INFRA. SACYR ESG VALUATION COMPANY CONCESIONES CREATING IN CHILE AND WHO ARE WE? SHARED VALUE COLOMBIA
Slide 5: Sacyr - A Unique Investment Opportunity
SACYR - A UNIQUE INVESTMENT OPPORTUNITY Carlos Mijangos CFO / Sacyr Group
Slide 6: New business model focused on value creation through concessions
SACYR GROUP New business model focused on value creation through concessions Global Infrastructure player: Markets: Global and diversified geographical presence Stable cash-flow generation based on resilient business performance with limited risk Priority Markets (Home Markets) with significant loca
Slide 7: Five pillars of Sacyr's strategy
SACYR GROUP Five pillars of Sacyr’s strategy 1 Significant 2 Strong focus on 3 Stable shareholder reduction of the concessional remuneration recourse net debt business €100M Recourse net €1 billion distributions from concessional 5% annual shareholder retribution debt in 2025 assets expected over th
Slide 8: Profitable and stable business model driven by concession business
SACYR GROUP Profitable and stable business model driven by concession business Our engine of growth Perfect partners for Sacyr Concesiones leveraging synergies ▪ High and stable EBITDA margin: ▪ Stable EBITDA margin: ▪ Stable EBITDA margin: 5-6%. 8-9%. • c.65 % infrastructure concessions ▪ Preferenc
Slide 9: c.80% of Group EBITDA from concessional assets
SACYR GROUP c.80% of Group EBITDA from concessional assets Strong operating performance and high quality backlog Revenues EBITDA Backlog1 EBITDA margin €15M 2% 54% 11% 9% 7% 23% 12% 20% 28% 14% €4.5Bn €724M 49% €365M 49% €39.2Bn 2020 2020 2020 39% 79% 52% €188M 26% EBITDA from concessional assets €5
Slide 10: High growth potential supported by the change in the business model
SACYR GROUP High growth potential supported by the change in the business model Revenues (€M) EBITDA (€M) Concessional EBITDA of total EBITDA EBITDA 9% 16% 22% ~ Margin ~ ~5,500 78% ~85% 4,548 ~1,200 2,718 724 26% 239 2014 2020 2025E 2014 2020 2025E 2014 2020 2025E Operating Cash Flow (€M) Recourse
Slide 11: Expected free cash flow generation of €735M until 2025
SACYR GROUP Expected free cash flow generation of €735M until 2025 2021-25 Accumulated Figures (€M) FCF ex-Concessions 350 Distributions 1,014 Recourse debt interest (150) Committed Equity (479) Engineering and Concessions Infrastructure Free Cash 200 Services FCF 735 + Potential Asset Rotation Debt
Slide 12: Expected free cash flow generation of €735M until 2025
SACYR GROUP Expected free cash flow generation of €735M until 2025 High visibility over the 2021-25 accumulated Free Cash Flow generation (€M) FCF ex-Concessions 350 (479) Recourse debt interest (150) Free Cash 200 1,014 1,214 735 200 Free Distributions FCF before Committed FCF Cash from Assets Comm
Slide 13: Sacyr is a unique investment opportunity
SACYR GROUP Sacyr is a unique investment opportunity Business model focused on value creation through concessions (80% of 2020 Sacyr EBITDA, c.85% expected in 2025) Demonstrated resilient performance despite COVID and compared to main peers due to the development of low demand risk projects Commissi
Slide 14: Sacyr Concesiones – Who are we?
SACYR CONCESIONES – WHO ARE WE? Rafael Gómez del Río CEO / Sacyr Concesiones
Slide 15: Main current figures of Sacyr Concesiones
SACYR CONCESIONES - WHO ARE WE? Main current figures of Sacyr Concesiones PPP leading company focused on high-complexity greenfield projects with Recognitions mitigated or low demand risk. 4th Developer of Greenfield Diversified and globally distributed portfolio with 65 projects in 15 countries pro
Slide 16: Our integrated approach to maximize value creation
SACYR CONCESIONES - WHO ARE WE? Our integrated approach to maximize value creation Sacyr Concesiones strategy is supported by vertical integration. We manage all aspects of the concession’s lifecycle adding value in each stage: Asset Market Intel / Design / Financing Management Rotation Bidding Comm
Slide 17: Young portfolio - Higher value through de-risking, refinancing and rolling forward
SACYR CONCESIONES - WHO ARE WE? Young portfolio - Higher value through de-risking, refinancing and rolling forward Young asset portfolio with high potential: Weighted avg. remaining life TOTAL Average financing maturity 18 Average tail 7 25 years University of Idaho 2060 2070 Pedemontana 2047 2061 A
Slide 18: Our Key Assets at a glance
SACYR CONCESIONES-WHO ARE WE? Our Key Assets at a glance University of Idaho Pedemontana First concession in USA. USA Main axis of the industrial areas Sustainable management of the utilities of Vicenza and Treviso. 50Y concession Italy 39Y concession after COD Demand Risk Mitigation Mechanism Deman
Slide 19: EBITDA and Revenue doubled since 2015
SACYR CONCESIONES - RELIABLE TRACK RECORD EBITDA and Revenue doubled since 2015 1,381 2020 EBITDA margin Strong operational performance and increased profitability over the years c.65% 1,121 Infrastructure concessions Revenues Sacyr Concesiones1 Operational revenues 917 c.16% EBITDA Water, Waste & E
Slide 20: Stable, predictable and reliable awarding and commissioning
SACYR CONCESIONES - RELIABLE TRACK RECORD Stable, predictable and reliable awarding and commissioning Awarding: Commissioning: 20 projects 10 projects Successful entry in Average 15-21 Average 15-21 6 countries ~3/Year ~2/Year US UY 20 18 BR 15 14 MX 10 10 9 PY 7 7 5 COL 4 4 3 1 2015 2016 2017 2018
Slide 21: Goals fulfilled even in a complex environment
SACYR CONCESIONES - RELIABLE TRACK RECORD Goals fulfilled even in a complex environment Since our last Investor Day in 2019 we have been able to meet the objectives set at the time, despite an unprecedent situation caused by the pandemic. Self-sustaining portfolio from All 2021 equity deployments (€
Slide 22: The three pillars of our Growth strategy for 2021 - 2025
SACYR CONCESIONES - GROWTH STRATEGY FOR 2021 - 2025 The three pillars of our Growth strategy for 2021 - 2025 Our Goals Profitable and continuous growth ▪ Award 2~ 3 projects/year 1 ▪ Complex infrastructure projects with mitigated Our priorities or low demand risk: motorways, railways, hospitals, tra
Slide 23: On our way to €1Bn EBITDA in 2025 supported by our current portfolio
SACYR CONCESIONES - GROWTH STRATEGY FOR 2021 - 2025 On our way to €1Bn EBITDA in 2025 supported by our current portfolio EBITDA Sacyr Concesiones - Strong visibility over Sacyr EBITDA goal c.85% of Group EBITDA Our current concessions asset portfolio is expected to generate €1Bn EBITDA by 2025 c.72
Slide 24: Our growth strategy is focused on English speaking countries and European countries
SACYR CONCESIONES - GROWTH STRATEGY FOR 2021 - 2025 Our growth strategy is focused on English speaking countries and European countries Target Countries Denmark Sweden Norway Well-defined public-private- Canada partnership framework €4.1Bn Ireland UK Europe €14.1Bn Political and social stability USA
Slide 25: A closer look into our current Pipeline
SACYR CONCESIONES - GROWTH STRATEGY FOR 2021 - 2025 A closer look into our current Pipeline Next 12 months pipeline in English speaking & European countries Approximately 1/3 of our pipeline is located on English speaking countries and 1/3 in Europe The success rate in prequalification processes for
Slide 26: Our Competitive Strengths
OUR COMPETITIVE STRENGTHS Rafael Gómez del Río CEO / Sacyr Concesiones Rodrigo Jiménez-Alfaro CFO / Sacyr Concesiones
Slide 27: Our competitive strengths provide us a clear visibility for a sustained value creation
SACYR CONCESIONES Our competitive strengths provide us a clear visibility for a sustained value creation Consistency Resilient and Vertical Reliable Financial in project Diversified Integration Commissioning Strength awarding Portfolio ▪ Combined ▪ Leader in our ▪ Solid track record ▪ 96% low or non
Slide 28: Optimized global structure with synergies in tenders/execution
SACYR CONCESIONES – OUR COMPETITIVE STRENGTHS Optimized global structure with synergies in tenders/execution v Vertical Integration Consistency in project awarding Reliable Commissioning Resilient and Diversified Portfolio Financial Strength Mutual understanding and optimal allocation of risks durin
Slide 29: High success awarding rates and successful entry in key markets
SACYR CONCESIONES – OUR COMPETITIVE STRENGTHS High success awarding rates and successful entry in key markets v Vertical Integration Consistency in project awarding Reliable Commissioning Resilient and Diversified Portfolio Financial Strength Our strong track record in awarding new projects is the b
Slide 30: Proven success in assets commissioning
SACYR CONCESIONES – OUR COMPETITIVE STRENGTHS Proven success in assets commissioning v Vertical Integration Consistency in project awarding Reliable Commissioning Resilient and Diversified Portfolio Financial Strength We comply with the proposed objectives, adding value to our investments by carryin
Slide 31: Resilient portfolio – 96% of our portfolio is low or no demand risk
SACYR CONCESIONES – OUR COMPETITIVE STRENGTHS Resilient portfolio – 96% of our portfolio is low or no demand risk v Vertical Integration Consistency in project awarding Reliable Commissioning Resilient and Diversified Portfolio Financial Strength Very resilient portfolio as demonstrated during COVID
Slide 32: Stable performance despite COVID proving stronger resilience than peers
SACYR CONCESIONES – OUR COMPETITIVE STRENGTHS Stable performance despite COVID proving stronger resilience than peers v Vertical Integration Consistency in project awarding Reliable Commissioning Resilient and Diversified Portfolio Financial Strength Strong evolution of the concessional business in
Slide 33: Turning point in our cash generation profile reaching a self-sustaining portfolio
SACYR CONCESIONES – OUR COMPETITIVE STRENGTHS Turning point in our cash generation profile reaching a self-sustaining portfolio v Vertical Integration Consistency in project awarding Reliable Commissioning Resilient and Diversified Portfolio Financial Strength Self-sustaining portfolio from 2021 whi
Slide 34: Strong financing capacities with transactions worth over €4.8Bn in 2 years
SACYR CONCESIONES – OUR COMPETITIVE STRENGTHS Strong financing capacities with transactions worth over €4.8Bn in 2 years v Vertical Integration Consistency in project awarding Reliable Commissioning Resilient and Diversified Portfolio Financial Strength ▪ Tailor-made financing, with innovative struc
Slide 35: Integrated approach to maximize value creation
SACYR CONCESIONES – OUR COMPETITIVE STRENGTHS Integrated approach to maximize value creation 1. High profitability generation (Illustrative Example) CLEAR VISIBILITY FOR SUSTAINED VALUE CREATION IRR Stage EqV Multiple Increase of Value 8 - 12% Bidding: €150M Financial Close €195M x 1,3 €45M Asset Co
Slide 36: Strong returns in our asset rotation track record
SACYR CONCESIONES – OUR COMPETITIVE STRENGTHS Strong returns in our asset rotation track record ▪ +16-20% 50% return on our past rotation operations, crystalizing the value of our equity investments ▪ Our strategy for the next years will be based on a selective asset rotation 50% 45% IRR Sacyr Purch
Slide 37: ESG – Creating Shared Value
ESG – CREATING SHARED VALUE Marta Gil General Manager of Strategy, Innovation and Sustainability / Sacyr Group
Slide 38: Our activity contributes to social and economic progress with environmental commitment
ESG – CREATING SHARED VALUE Our activity contributes to promote social and economic progress with a solid environmental commitment based on the SDGs… SOCIO-SANITARY TRANSPORT CIRCULAR ECONOMY INFRASTRUCTURE Safer roads, Improved transit Key player Modern social Water and Facilities that reducing tra
Slide 39: Our public commitment continues increasing…
ESG – CREATING SHARED VALUE Our public commitment continues increasing… 47climate risks and opportunities assessed in 2020 …what has been strongly recognized by the market Medium Risk 20.8 A- FTSE4Good IBEX Index ▪ Top 1 in Spain, Construction and CDP Climate Rating 47climatesector. Engineering risk
Slide 40: Long-term commitment to the environment
ESG – CREATING SHARED VALUE Long-term commitment to the environment Driving a positive impact for the environment is one of the cornerstones of the company’s vision for the future (16)% (25)% GHG reduction (1) +50% 2050 2020 GHG emissions 2025 environmental Carbon reduction (20)% (vs. 2019) emission
Slide 41: We create social value
ESG – CREATING SHARED VALUE We create social value Committed to the sustainable development of the communities in which we are present and the promotion of personal and professional growth of our employees 2020 RESULTS Examples of social action 2,800 employees € 1.6 M +100,000 99% investment direct
Slide 42: Effective governance practices
ESG – CREATING SHARED VALUE Effective governance practices ONLY COMPANY IN THE SECTOR WITH Our practices are aimed at ensuring the proper management of the SGE21 CERTIFICATION Company, guaranteeing the interests of every stakeholder and reporting with maximum transparency MAIN CORPORATE GOVERNANCE A
Slide 43: Innovation has always been at the core of our business
ESG – CREATING SHARED VALUE Innovation has always been at the core of our business Latest technology to maximize the value of our projects, providing the best-in-class customer service and respecting the environment Tunnel lighting system of Sustainable revolutionary the future additive for making a
Slide 44: A Closer Look at Italy
A CLOSER LOOK AT ITALY Rafael Gómez del Río CEO / Sacyr Concesiones
Slide 45: Italy: Our strong position
ITALY Our strong position in Italy Number Investment under Backlog1 Pedemontana Motorways of projects management (€Bn) 39Y €4.6Bn Maturity2 A5-A21 162Km 3 535km 12.6 12Y Maturity2 320Km OUR STRATEGY PIPELINE A3 25Y Maturity2 ▪ SIS, the consortium made up ▪ Currently eligible 52Km between Sacyr (49%)
Slide 46: Italy: Pedemontana, A5-A21 and A3
ITALY Our strong position in Italy Sacyr Stake: 49% PEDEMONTANA Full Consolidation Number Sacyr Stake: 49% Sacyr’s jewel in the crown. Greenfield motorway project of A5-21 Full Consolidation €2.6Bn of total Investment in Veneto Region. of projects Yellowfield motorway project of Pedemontana Remunera
Slide 47: 1st Infrastructure Company in Chile and Colombia
1ST INFRASTRUCTURE COMPANY IN CHILE AND COLOMBIA Rafael Gómez del Río CEO / Sacyr Concesiones
Slide 48: Chile outlook and main assets
CHILE Chile outlook and main assets Number €3.9Bn Investment under Algarrobo of projects 17 management Backlog1 (€Bn) 7.6 25Y Maturity2 187Km Hospital Million Motorways 1,070km beds 870 Passengers /year 3 C. De la Fruta AVO 42Y Maturity2 142Km 37Y Maturity2 9Km AMÉRICO VESPUCIO ORIENTE Sacyr Stake 5
Slide 49: Colombia outlook and main assets
COLOMBIA Colombia outlook and main assets Mar 1 Number 22Y Maturity2 Puerta de Hierro of projects 181Km PAMPLONA - CÚCUTA Sacyr Stake: 100% 22Y Maturity2 4 198Km This greenfield motorway project of €592M of total investment constitutes a solution to connect the borders between Colombia and Venezuela
Slide 50: Our Successful Entry in the US Market
OUR SUCCESSFUL ENTRY IN THE US MARKET Rafael Gómez del Río CEO / Sacyr Concesiones
Slide 51: Entry in the US market
USA Entry in the US market University UNIVERSITY OF IDAHO Sacyr Stake: 50% of Idaho Yellowfield project with €189M of total investment in the University of Idaho including operation, maintenance, and improvement of energy, water, and steam generation and distribution systems on the university's camp
Slide 52: Valuation
VALUATION María Muñoz Head of M&A / Sacyr Group
Slide 53: Sacyr Concesiones Assets Valuation – Constant growth portfolio
SACYR CONCESIONES - VALUATION Sacyr Concesiones Assets Valuation – Constant growth portfolio Sacyr Concesiones valuation is €2,811M with €2,614M coming from our current asset portfolio, calculated in an unfavourable macro context, which shows the resilience of our assets Future Investments €6,000m M
Slide 54: Water - Understanding of the division and its value
SACYR CONCESIONES - VALUATION Water - Understanding of the division and its value SUM OF PARTS Figures €M Given the different business typology within the area and how this kind of projects are usually valued, two main groups of projects/assets should be considered, (1) 10.5x EBITDA Integrated Cycle
Slide 55: Increased value since ID2019 sustained by new projects and portfolio management
SACYR CONCESIONES - VALUATION Increased value since ID2019 sustained by new projects and portfolio management 196 2,811 209 2,614 Like for like value increase, without including new project awards between ID 19 and ID 21 Value captured 263 2,405 Water from Future Investments 595 (151) 73 2,142 Contr
Slide 56: Current portfolio has reached the valuation estimated in ID 2019
SACYR CONCESIONES - VALUATION In 2021, our current portfolio has reached the valuation estimated in ID 2019 (€2,400 M) even after the 95% Guadalmedina divestment Valuation (€M) 6,000 €3,691M 5,000 €3,083M €2,811M 4,000 €2,614M 3,000 €2,861M 2,000 c.€2,400M €2,370M 1,000 - 2021 2022 2023 2024 2025 20
Slide 57: Diversified portfolio with high presence in Italy and developed countries
SACYR CONCESIONES - VALUATION Diversified portfolio with high presence in Italy and developed countries TOTAL PORTFOLIO VALUATION BREAKDOWN – 2021 (€M) TOTAL PORTFOLIO VALUATION BREAKDOWN – 2025 (€M) Italy has become our main market by EUR and USD countries concessional asset valuation gain weight i
Slide 58: Our Key Assets for long term value creation
SACYR CONCESIONES - VALUATION Our Key Assets for long term value creation Our Key Assets represent c.60% of the total valuation NPV 31 Dec 2021 Our Key Assets (8 assets) represent c. 60% (€1,674M) of the total portfolio valuation as of 31st December 2021 €2,811M €6,000m Pedemontana €5,000m AVO Rumic
Slide 59: Italy valuation
SACYR CONCESIONES - VALUATION Italy valuation Value approximation NPV 22 years 31 Dec 2021 2044 Distributions / Equity Value €958M Max: €1,375M 2.19 €/Share CF Equity contributions 1,600 1.52 €/Share Pedemontana 1,400 End of financing 175 1,200 1,000 125 800 600 75 400 200 25 - (200) Avg. Distributi
Slide 60: Chile valuation
SACYR CONCESIONES - VALUATION Chile valuation Value approximation NPV 28 years 31 Dec 2021 2050 Max: €1,071M Distributions / Equity Value €523M 1.70 €/Share CF Equity contributions 0.83 €/Share 1,000 250 AVO Refinancing 800 200 C. De la Fruta Refinancing 600 150 400 100 200 50 - - Avg. Distribution
Slide 61: Colombia valuation
SACYR CONCESIONES - VALUATION Colombia valuation Value approximation NPV 17 years 31 Dec 2021 Distributions / Equity 2039 Value €474M Max: €588M 0.93 €/Share CF Equity contributions 0.75 €/Share 250 550 200 450 150 350 250 100 150 50 50 - (50) Avg. Distribution from 2022 - €74M / year Rumichaca Past
Slide 62: Current infrastructure portfolio - Strong cash generation profile
SACYR CONCESIONES – INFRASTRUCTURE Current infrastructure portfolio - Strong cash generation profile CURRENT INFRASTRUCTURE PORTFOLIO’S EXPECTED CASH GENERATION 2022-2030 Cash Flows Avg Distribution €213M Total portfolio distributions of €11.5Bn €500m DSC Ratio 1,3x Avg Cash Yield 11.3% €400m 2031-2
Slide 63: Conclusion
CONCLUSION Manuel Manrique President & CEO / Sacyr Group
Slide 64: The time to invest in Sacyr is now
CONCLUSION The time to invest in Sacyr is now Strong commitment to reduce recourse net debt close to zero Sacyr Concesiones assets’ current valuation is €2.8bn In 2025 will be above €3.5bn Perfect Time High quality portfolio ESG commitment In 2022 we will be commissioning Stable cash flow generation
Slide 65: Annexes
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Slide 66: ESG: Additional information
ESG: Additional information 2020 RESULTS 2025 TARGETS Investment Investment +30% +50% environmental investment (vs. 2019) €34 M environmental investment Other Other 56% 84% 100% 80% recycled materials recycling rate of non biodiversity conservation in new contracts overall recycling rate consumed ha
Slide 67: Backlog: Evolution & Distribution
Backlog: Evolution & Distribution BACKLOG EVOLUTION (€BN) DISTRIBUTION BY CURRENCY +16% 26% Infra 42% projects 2015 18% 21% 19% CAGR 11% 15-20 +WWE Integration 48% 36.0 of WWE 2020 26% 20% 30.0 30.9 27.7 7% 27.1 27.2 1H2021 51% 14.2 EUR 13.3 19% USD* 10% CLP 2015 2016 2017 2018 2019 2020 2020* 1H 20
Slide 68: Business breakdown
Business breakdown Integration of Water, Waste and Energy (WWE) into Sacyr Concesiones to: i) group all concessions under the same division, ii) crystalize the value of our WWE projects leveraging our worldwide financial capacity and iii) Optimize structure and reduce costs. 4% 1% 11% Main figures 2
Slide 69: Portfolio: Geographical Distribution
Portfolio : Geographical Distribution Aunor (51%) Palma - Manacor (40%) Viastur (70%) N6 (45%) Turia (56%) Barbanza (100%) Eresma (80%) H. Braga (1%) Arlanzón (55%) H. Haçor (1%) H. Parla (51%) University of Idaho (50%) H. Vilafranca (1%) H. Noreste (51%) Brisal (5%) Int. Plaza Elíptica (51%) Viaexp
Slide 70: Position in Italy (I)
Position in Italy (i) Number Investment under Backlog1 Motorways of projects management (€Bn) Pedemontana 3 €4.6Bn 535km 12.6 39Y Maturity2 A5-A21 162Km OUR STRATEGY PIPELINE 12Y Maturity2 ▪ Usually tender in consortium / JV with local partner. ▪ 50% success rate (4 awards of 8). 320Km ▪ SIS, the co
Slide 71: Position in Italy (II)
Number Investment under Motorways Backlog1 Position in Italy (II) of projects management (€Bn) 3 €4.6Bn 535km 12.6 Pedemontana Sacyr Stake: 49% A3 Full Consolidation 39Y Maturity2 A5-A21 162Km Description Remuneration Scheme Maturity Yellowfield motorway project 25 years from the Toll revenues from
Slide 72: Position in Chile
Position in Chile Number €3.9Bn Investment under of projects 17 management Backlog1 (€Bn) 7.6 Algarrobo AVO Million Hospital 25Y Maturity2 37Y Maturity2 Motorways 1,070km beds 870 Passengers /year 3 187Km 9Km C. De la Fruta AMÉRICO VESPUCIO ORIENTE (AVO) Sacyr Stake: 50% Bío Bío 42Y Maturity2 142Km
Slide 73: Position in Colombia
Position in Colombia Number Investment under Motorways Backlog1 Puerta de Hierro of projects management* (€Bn) 22Y Maturity2 4 €2.25Bn 524km 4.2 Mar 1 198Km RUMICHACA-PASTO Sacyr Stake: 60% 22Y Maturity2 Pamplona Cucuta 181Km Description Maturity: 25 years from the award of the concession with a 24Y
Slide 74: University of Idaho
USA University of Idaho Sacyr Stake DESCRIPTION STATUS 50% Operating, maintaining, and improving the energy, water, and steam ▪ Asset under operation. generation and distribution systems on the university's campus, an area of 650 hectares. The improvements include reducing the carbon footprint made
Slide 75: Water, Waste and Energy (WWE) – An integrated business into our concession division
Water, Waste and Energy (WWE) – An integrated business into our concession division 5 Water integrated cycles Sacyr Stake 51% Emmasa Sacyr Stake 95% Guadalajara Sacyr Stake 100% ▪ Concession Period End – Perpetuity ▪ CPE – March. 2031 ▪ Remuneration Scheme – Regulated sanitary ▪ RS – Fixed payment (
Slide 76: Asset Portfolio List - Infrastructure
Asset Portfolio List - Infrastructure INVESTMENT UNDER OPERATION/ START OF END OF REMAINING LIFE AS OF REMUNERATION # COUNTRY ASSET TYPOLOGY SACYR'S STAKE CONSOLIDATION MANAGEMENT CONSTRUCTION OPERATION CONCESSION 31/12/2020 SCHEME (€M) 1 Autopista Pedemontana Veneta Motorway 49% 2,584 Construction
Slide 77: Asset Portfolio List - Infrastructure
Asset Portfolio List - Infrastructure INVESTMENT UNDER OPERATION/ START OF END OF REMAINING LIFE AS OF REMUNERATION # COUNTRY ASSET TYPOLOGY SACYR'S STAKE CONSOLIDATION MANAGEMENT CONSTRUCTION OPERATION CONCESSION 31/12/2020 SCHEME (€M) 26 Autopista del Guadalmedina Motorway 5% 408 Operation 2011 20
Slide 78: Asset Portfolio List - WWE
Asset Portfolio List - WWE INVESTMENT UNDER OPERATION/ START OF END OF REMAINING LIFE AS OF REMUNERATION # COUNTRY ASSET TYPOLOGY SACYR'S STAKE CONSOLIDATION MANAGEMENT CONSTRUCTION OPERATION CONCESSION 31/12/2020 SCHEME (€M) 1 University of Idaho WWE 50% 189 Operation 2021 2070 49 Full Consolidatio
Slide 79: Sensitivities theoretical impact
Sensitivities theoretical impact FX Impact CPI Impact (10)% +10% Country Country (0.5)% +0.5% Depreciation Appreciation COP €(43)M +€53M Spain €(24)M +€25M CLP €(46)M +€56M Colombia €(22)M +€23M Other excl. USD €(12)M +€14M Chile €(22)M +€24M USD €(5)M +€6M Italy €(48)M +€50M Subtotal €(116)M +€122M
Slide 80: Main hypothesis
Main hypothesis Long-term Exchange COUNTRY Inflation Rate Spain 2.0% NA Italy 2.0% NA Chile 3.1% 851 CLP/EUR Colombia 4.0% 4,040 COP/EUR Brazil 4.5% 5.4 BRL/ EUR Uruguay 7.0% 45.1 UYU/EUR Mexico 4.0% 23.3 MXN/EUR Paraguay 4.1% 7,393 PYG/EUR Peru 3.0% 1.15 USD/EUR USA 2.0% 1.15 USD/EUR 80
Slide 81: Disclaimer
Disclaimer Sacyr, S.A. and its group companies (the "Sacyr Group") is the exclusive owner of this document, which has been prepared exclusively for use during the presentation of the Investor Day addressed to investors and analysts. This document may not be copied, distributed, divulged or published
Slide 82: Thank you for your attention
Thank you for your attention Should you require further information, please do not hesitate to contact Sacyr Investor Relation’s department: ir@sacyr.com +34 91 545 50 00 sacyr.com 82