Sacyr Sa · BME:SCYR
Sacyr Sa — Investor Day (May 2024)
119 slides from Sacyr Sa's investor day presentation, May 9, 2024
Slide 1: Madrid | 9th May 2024
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Slide 2: Disclaimer
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Disclaimer Sacyr, S.A. and its group companies (the "Sacyr Group") is the exclusive owner of this document and any additional oral presentati
Slide 3: Today's speakers
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Today’s speakers Manuel Manrique Carlos Mijangos Marta Gil de la Hoz Pedro Sigüenza Chairman & CEO Chief Financial Officer Chief ESG, Strateg
Slide 4: Agenda
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Agenda 1 Sacyr Strategic Vision 6 Sacyr Ingeniería e Infraestructuras Manuel Manrique – Chairman & CEO Rafael Gómez del Río – Managing Direct
Slide 5: Sacyr Strategic Vision
1 Sacyr Strategic Vision Manuel Manrique Chairman & CEO Sacyr Pedemontana - Veneta
Slide 6: To become the world's leading developer of greenfield projects in 2033
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Sacyr Strategic Vision To become the world’s leading developer of greenfield transportation, social and water projects in 2033 Buenaventura -
Slide 7: Building on current Sacyr strengths
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Building on current Sacyr Strengths… Sacyr is a global leading infrastructure platform Top 3 infrastructure player (P3 transport)¹ Best platf
Slide 8: Reinforced with a complete reorganization of the company
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A … reinforced with a complete reorganization of the company… Following the divestment of Sacyr Servicios, we have performed an organizational
Slide 9: Reinforced with a complete reorganization of the company
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A … reinforced with a complete reorganization of the company… Following the divestment of Sacyr Servicios, we have performed an organizational
Slide 10: Three efficient and competitive vertically integrated businesses
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A … with 3 efficient and competitive vertically integrated businesses Target assets: Organic growth based on: Mixed contract portfolio: Water
Slide 11: A unique business model
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A A unique business model… We have the Experienced Vertical Sustainability best platform Management team integration to develop greenfield proj
Slide 12: To reach the 2033 Strategic Vision
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A … to reach the 2033 Strategic Vision In the next ten years, Sacyr will develop its full potential… Invested equity Portfolio equity valuatio
Slide 13: Alliance with a partner as a driver to accelerate growth
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Alliance with a partner as a driver to accelerate growth Creation of a vehicle with assets in operation that gives entry to a partner with a
Slide 14: Alliance with a partner as a driver to accelerate growth
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Alliance with a partner as a driver to accelerate growth An alliance that will allow us to accelerate our growth in larger assets and to joi
Slide 15: Objectives of Strategic Plan 2024 – 2027
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Objectives of Strategic Plan 2024 – 2027 Alliance with Establishment of an alliance with a partner to accelerate the growth of the a partne
Slide 16: Objectives: investment grade rating
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Objectives of Strategic Plan 2024 – 2027 Alliance with a partner We remain committed to Investment our goal of achieving an grade rating Ne
Slide 17: Objectives: new remuneration policy, €225M
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Objectives of Strategic Plan 2024 – 2027 Alliance with a partner New shareholder Investment remuneration policy with at least grade rating
Slide 18: Objectives of Strategic Plan 2024 – 2027
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Objectives of Strategic 2023 2027 Plan 2024 – 2027 Operating Cash Flow €850M 1.6x €1,350M Equity Invested €1.6Bn 1.6x €2.6Bn Geographically
Slide 19: Corporate Governance
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Corporate Governance We have Committed to best 50% independent market practice in directors on the Board Corporate Governance Sacyr’s Headqua
Slide 20: Main figures of the Strategic Plan 2024 – 2027
2 Main figures of the Strategic Plan 2024 – 2027 Carlos Mijangos Chief Financial Officer Sacyr A3 Highway
Slide 21: We deliver what we promise: goals achieved from ID 2021
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A We deliver what we promise: We have achieved the goals set out in the ID 2021 ID 2021 5 Pillars of Sacyr Strategy Goals achieved 2 years ahea
Slide 22: Main goals of the Strategic Plan 2024 – 2027
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Main goals of the Strategic Plan 2024 – 2027 2023 2027 CAGR EBITDA €1.5Bn €1.6Bn +1.4% Operating CF €0.85Bn €1.35Bn +12.3% Net Profit €153M €
Slide 23: Operating cash flow guides Sacyr's growth path
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Operating cash flow guides Sacyr’s growth path Intangible asset Financial asset Significant part of Sacyr’s portfolio (majority of assets in
Slide 24: Expected evolution of Operating Cash Flow
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Expected evolution of Operating Cash Flow Operating Cash Flow vs EBITDA The predictable and increasing performance of the operating Operating
Slide 25: Main pillars of the Strategic Plan 2024 – 2027
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Main pillars of the Strategic Plan 2024 – 2027 Growth in Financial Shareholder concessions discipline remuneration Investment grade New shar
Slide 26: On track for our growth ambitions
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A On track for our growth ambitions Growth in concessions Our management skills and cash generation together with the alliance with the strateg
Slide 27: Committed equity vs distributions 2024 – 2027
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Committed equity vs distributions 2024 – 2027 Growth in concessions Distributions to Sacyr Annual Committed Equity Available Cash Flow (96)
Slide 28: Solid performance in portfolio valuation
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Solid performance in portfolio valuation Growth in concessions The company is on a growth path, aiming to reach a portfolio equity valuation
Slide 29: Capital allocation 2024 – 2027
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Capital allocation 2024 – 2027 Financial discipline €1.8Bn - €1.6Bn FCF €0.22Bn – ex-concessions1 €0.18Bn €(0.30)Bn – €(0.25)Bn Preinvestment
Slide 30: Capital allocation 2024 – 2027
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Capital allocation 2024 – 2027 Financial discipline +€0.23Bn Cash distribution €0.8Bn – Group FCF €0.7Bn Equity for further growth at least €
Slide 31: Strong commitment to financial discipline continues
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Strong commitment to financial discipline continues Financial discipline Commitment to recourse net debt reduction in recent years, which dem
Slide 32: Focus on investment grade rating
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Strong commitment to financial discipline continues Financial discipline Continuation of the debt reduction process, towards net cash positio
Slide 33: Interest rate and forex policy
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Interest rate and forex policy Financial discipline Sacyr has debt profile hedged against … and naturally hedged against foreign exchange int
Slide 34: Increasing shareholders' remuneration in the last years
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Increasing shareholders’ Shareholder remuneration remuneration in the last years The increase in the Scrip dividends The scrip dividend schem
Slide 35: Profitable growth will guide the new shareholder remuneration policy
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Profitable growth will guide the new Shareholder remuneration shareholders remuneration policy Sacyr has defined a new shareholder’s remunera
Slide 36: Conclusion: €2.6Bn, €1Bn, €225M
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Conclusion Growth leading platform with a current valuation of €3.6Bn in 2024 and €5.1Bn in 2027 €2.6Bn €1Bn Investment €225M Shareholder Equ
Slide 37: Sustainability
3 Sustainability Marta Gil de la Hoz Chief ESG, Strategy & Innovation Officer, Sacyr Canal del Dique
Slide 38: Sacyr's ESG performance, beyond objectives
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Sacyr’s ESG performance, beyond objectives Sustainability at Sacyr generates real value through the positive impact in our stakeholders Envi
Slide 39: Widely recognized as leaders due to our ESG commitment
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Widely recognized as leaders due to our ESG commitment Development and management of infrastructure that generates a positive social, economi
Slide 40: Sustainability, at the core of our activity
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Sustainability, at the core of our activity Our aim is to continue being one of the sector’s references in terms of sustainability, and to ma
Slide 41: Sustainability, at the core of our activity
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Sustainability, at the core of our activity Our aim is to continue being one of the sector’s references in terms of sustainability, and to ma
Slide 42: Conclusion: Sustainability as a value lever
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Conclusion “Sustainability as a value lever for company growth” Marta Gil de la Hoz Chief ESG, Strategy & Innovation Officer Sacyr Canal del
Slide 43: Sacyr Concesiones
4 Sacyr Concesiones Pedro Sigüenza Managing Director Sacyr Concesiones Autopista al Mar 1
Slide 44: Key messages
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Key messages Our portfolio's increasing Our vertical integration We generate value We have a competitive and predictable positions us as a un
Slide 45: Key financials and operational KPIs
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Key financials and operational KPIs A globally distributed… 41 Brownfield 57 11 Yellowfield Presence in assets 5 Greenfield 12 countries … an
Slide 46: Key financial and operational KPIs
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Key financial and operational KPIs Revenue Backlog at Distributions €48,990 M Mar. 2024 €220 M 2023 Low or non-demand Distributions 90% risk
Slide 47: A unique company that awards and commissions projects
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A A unique company that awards and commissions projects Sacyr has increased its contracting success rate of ~ 30% since the ID 2021 while maint
Slide 48: 7 contracts awarded between 2022 - 2023
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A 7 contracts awarded Via del Mare New Velindre Cancer Centre between 2022 - 2023 • Design, construction, financing, operation and maintenance
Slide 49: 9 projects commissioned between 2022 - 2023
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A 9 projects commissioned between 2022 - 2023 We accomplished our ambitious goals disclosed in the ID 2021, further reinforcing the value of ou
Slide 50: Our vertical integration to maximize value creation
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Our vertical integration to maximize value creation We manage all aspects of the concession lifecycle adding value at every stage: Exit IRR
Slide 51: Strong returns in our asset rotation track record
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Strong returns in our asset rotation track record The multiples on invested equity obtained in recent sales demonstrate the quality of Sacyr'
Slide 52: Pipeline: Forecasted business activity until 2030
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Pipeline: Forecasted business activity until 2030 Complex Greenfield Projects Target Large size, projects Projects restricted to big players
Slide 53: Market Intelligence: Main projects under analysis
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A €75Bn +60 Assets 12 Countries Market Intelligence: Projects analyzed USA/Canada +€32.5Bn UK/Ireland €3Bn Main projects under analysis Austral
Slide 54: Conclusion: Sacyr Concesiones a unique platform for growth
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Conclusion “Sacyr Concesiones a unique platform for growth” Pedro Sigüenza Managing Director Sacyr Concesiones Autopista al Mar 1 54
Slide 55: Sacyr Agua
5 Sacyr Agua Eduardo Campos Managing Director Sacyr Agua Ruta de la Fruta
Slide 56: By 2030, 47% population living in water stress areas
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A By 2030… 47% population living in water stress areas Source: United Nations and OECD 56
Slide 57: Key messages
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Key messages Pioneer player with Profitable Strong backlog with secured +30 years of experience track record that revenues generated by a thr
Slide 58: Privileged position for future growth
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Privileged position for future growth Leading International company with a focus on the full cycle of water projects Specialists in the desi
Slide 59: Privileged position for future growth
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Privileged position for future growth Best Treatment Company 2023 Leading International company with a focus on the full cycle of water proje
Slide 60: Focus on profitable growth reaching €86M EBITDA in 2027
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Focus on profitable growth reaching €86M EBITDA in 2027 Profitability went up by 46% since 2020 and this trend is expected to continue during
Slide 61: Predictable young portfolio consisting of long-term contracts
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Predictable young 16 portfolio consisting of Assets long-term contracts 7 with revenue growth 1 2 Award proposal Torrevieja Top 1 in O&M Desa
Slide 62: Predictable young portfolio: backlog growth
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Predictable young portfolio consisting of +213.2% long-term contracts 4,923 with revenue growth 3,510 Growth of the backlog in last years is
Slide 63: High potential to grow in our target regions
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A €62Bn +103 projects 15 Countries High potential to grow in our target regions Spain €2.4Bn LATAM €22Bn Projects Sacyr Agua has already proven
Slide 64: Innovation, the engine of sustainable development
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Innovation, the engine of sustainable development Innovation has always played a pivotal role in our business strategy. Our model has allow
Slide 65: Conclusion
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Conclusion “Sacyr´s positioning and “Our track record has knowledge places us in a had solid profitable privileged situation to solve growth
Slide 66: Sacyr Ingeniería e Infraestructuras
6 Sacyr Ingeniería e Infraestructuras Rafael Gómez del Río Managing Director Sacyr Ingeniería e Infraestructuras Pamplona - Cúcuta
Slide 67: Key messages
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Key messages Profitable Reliable Predictable We will continue prioritizing Strong technical, Focus on own concessions profitability over inco
Slide 68: Value through vertical integration
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Sacyr Ingeniería Key Figures1 2023 e Infraestructuras Value through €2,131M €99M 4.6% €9,113M vertical integration Revenues EBITDA EBITDA Mar
Slide 69: Value through vertical integration
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Sacyr Ingeniería e Infraestructuras Value through vertical integration Roads Railways Hospitals Water +6,000 km +1,100 km +10,000 beds +300 p
Slide 70: Focus on profitability versus volume
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Focus on profitability versus volume Profitability has gone up 12% since 2021, with a focus on profitability over volume. Our priority for
Slide 71: Best-in-class business model
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Best-in-class business model Reliable Vertically integrated Strict risk mitigation commissioning capacity Combined capacities that Detailed
Slide 72: Diversified backlog with focus on own concessions and low-risk regions
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Diversified backlog with focus on our own concessions and low-risk regions Increased focus on projects from our own Concessions allows us to
Slide 73: Main projects under analysis
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Market Intelligence: Main projects under analysis €7.1Bn 43 Assets 10 Countries Canada UK / Ireland • Windsor Hospital • Dublin Airport • G
Slide 74: Conclusions
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Conclusions Profitable Reliable Predictable “Prioritizing profitability “Proved commissioning “Focus on backlog from over income volume” capa
Slide 75: Portfolio Valuation
7 Portfolio Valuation María Muñoz Head of M&A Sacyr Rumichaca - Pasto
Slide 76: Portfolio Valuation – On the road to accelerate growth
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Portfolio Valuation – On the road to accelerate growth The equity valuation of our portfolio amounts to €3.6Bn and driven by the growth capa
Slide 77: Valuation performance and main assumptions
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Valuation performance and main assumptions Constant value creation supported by the growth levers signature of our infrastructure platform Mi
Slide 78: Valuation of water projects
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Valuation of water projects Sum of parts valuation Given the different business typology within the area and how this kind of projects are Fi
Slide 79: Increased value since ID21 shows robustness of our platform
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A 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
Slide 80: Value of future growth
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Value of future growth – Supported by the accelerated equity investment goal +€740M Incr. Future Growth €3,551M Capturing the impact of our f
Slide 81: Increased cash generation profile of the current infrastructure portfolio
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Increased cash generation profile of the current infrastructure portfolio The growth and active management of our concessional portfolio has
Slide 82: Operating cash flow – Room for re-leverage
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Operating cash flow – Room for re-leverage The current portfolio has a sound capacity to repay its debt service, which decreases over time, a
Slide 83: Conclusions
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Conclusions “Sacyr will receive …representing a major …and becoming the main pillar €16.1Bn cash engine of growth for our of the value of our
Slide 84: Conclusions
8 Conclusions Manuel Manrique Chairman & CEO Sacyr Rutas del Este
Slide 85: Conclusions: Why invest in Sacyr?
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Conclusions Vertical Integration Why invest in Sacyr? World leading 1 concession platform Investment World leading Low-demand Profitable asse
Slide 86: Conclusions: Investment grade rating
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Conclusions Why invest in Sacyr? World leading 1 concession platform Focus on Investment 2 grade target 3 New remuneration policy with cash d
Slide 87: Conclusions: new remuneration policy, €225M
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Conclusions New remuneration policy including minimum €225M cash payout, which reflects our commitment to shareholder remuneration and busine
Slide 88: Conclusions: A unique business model
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Conclusions A unique Why invest in Sacyr? business model… World leading 1 concession platform We are the best platform to develop Greenfield
Slide 89: Conclusions: leading developer by 2033
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Conclusions To become the world’s leading developer of €10Bn Why invest in Sacyr? greenfield transportation, social and water - projects in 2
Slide 90: New Brownfield Vehicle
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A New Brownfield Vehicle Corporate identity Rutas del Este 90
Slide 91: Q&A
9 Q&A Alberto Gárgoles Head of Investor Relations Sacyr AVO I
Slide 92: Thank you
Thank you Let’s make it possible. For all. 92
Slide 93: Appendix
10 Appendix Ferrocarril CentraI
Slide 94: Index
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix Index 10.1 New Global Infra Player on Scene 10.7 Flagship Concessional Assets 10.2 Main 24-27 Strategic Figures 10.8 Concessional Ke
Slide 95: Transition completed: new global infra player on scene
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.1 Transition completed: new global infra player on scene €1,350M €848M Operating Cash Flow €629M 2021 2023 2027 Consolidating Glo
Slide 96: Main strategic objectives
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.2 Main strategic objectives Sacyr 2023 2027 Revenues €4,609M €4,953M EBITDA €1,523M €1,610M Net Profit €153M €265M¹ Recourse Net
Slide 97: We actively manage the portfolio to maximize value creation
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.3 We actively manage the portfolio to maximize value creation Financing since 2021 €2,261M Refinancing since 2021 €1,631M Divestm
Slide 98: Italy Current Portfolio Valuation
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.4 Italy Current Portfolio Valuation Shareholder distributions Equity Contributions 27 years NPV 2052 Distributions / 31 Dec 2024
Slide 99: Chile Current Portfolio Valuation
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.4 Chile Current Portfolio Valuation Shareholder distributions Equity Contributions 24 years NPV 31 Dec 2024 2049 Distributions /
Slide 100: Colombia Current Portfolio Valuation
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.4 Colombia Current Portfolio Valuation Shareholder distributions Equity Contributions NPV 31 Dec 2024 Distributions / CF Equity €
Slide 101: Asset rotation strategy: Chile
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.5 Asset rotation strategy: Chile 1st phase 2nd phase: 3rd phase: Asset Divestments HoldCo Divestment Final Divestment Between 201
Slide 102: Asset rotation strategy: Colombia
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.5 Asset rotation strategy: Colombia Puerta del Hierro Length: 198 km Non-binding offers will be received in June 2024. Pamplona-C
Slide 103: Distribution of the portfolio – Concessional Backlog
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.6 Distribution of the portfolio – Concessional Backlog Backlog by risk profile Backlog by currency 12% 10% 44% 56% 78% Mitigated
Slide 104: Flagship assets in relevant markets
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.7 Flagship assets in relevant markets World’s leading concessions portfolio with 57 assets, mainly transport infrastructure, with
Slide 105: I-10 Louisiana
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.8 I-10 Louisiana Status in detail Construction works are expected to start in 2024 and completion is scheduled for 2031 USA Matur
Slide 106: Anillo Vial Periférico
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.8 Status Anillo Vial Periférico Construction works are expected in detail to start in 2027 and completion is scheduled for 2034 P
Slide 107: Pedemontana-Veneta
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.8 Pedemontana-Veneta Status in detail In full operation since 2023 Italy Maturity 2061 38 years after COD Highlights Sacyr Stake:
Slide 108: Pamplona-Cúcuta
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.8 Pamplona-Cúcuta Status in detail In full operation since 2024 Colombia Maturity 2046 25 years from the award with a 4-year exte
Slide 109: Américo Vespucio Oriente
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.8 Américo Vespucio Status Oriente In operation since 2022 in detail Maturity 2059 Chile 45 years from the award Highlights Sacyr
Slide 110: Concessional assets map
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.9 Concessional assets map Aunor (51%) Palma - Manacor (40%) Viastur (70%) Roads 35 Turia (56%) Barbanza (100%) Eresma (51%) Trans
Slide 111: Concessional Asset list (I/IV)
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.10 Concessional Asset list (I/IV) SACYR´S INVESTMENT UNDER CURRENT START OF END OF REMAINING LIFE REMUNETARION ASSET TYPOLOGY CON
Slide 112: Concessional Asset list (II/IV)
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.10 Concessional Asset list (II/IV) SACYR´S INVESTMENT UNDER CURRENT START OF END OF REMAINING LIFE REMUNETARION ASSET TYPOLOGY CO
Slide 113: Concessional Asset list (III/IV)
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.10 Concessional Asset list (III/IV) SACYR´S INVESTMENT UNDER CURRENT START OF END OF REMAINING LIFE REMUNETARION ASSET TYPOLOGY C
Slide 114: Concessional Asset list (IV/IV)
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.10 Concessional Asset list (IV/IV) REMAINING SACYR´S INVESTMENT UNDER CURRENT START OF END OF REMUNETARION ASSET TYPOLOGY LIFE AS
Slide 115: Intangible asset example
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.11 Intangible P&L Y0 Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Y11 Y12 Y13 Income - - - 29.2 30.4 31.6 32.9 34.2 35.6 37.0 38.5 40.0 41.6 43
Slide 116: Financial asset example
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.11 Financial P&L Y0 Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Y11 Y12 Y13 Financial Income - 4.5 9.7 15.9 15.6 15.1 15.3 14.6 13.6 12.3 11.3
Slide 117: CPI, Forex & Sensitivities
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.12 CPI, Forex & Sensitivities CPI & Forex Long-Term vs EUR Country FX CPI % (30/04/2024)1 Spain 2.2% - - Italy 2.0% - - Colombia
Slide 118: CPI, Forex & Sensitivities
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix 10.12 CPI, Forex & Sensitivities Sensitivities FX Impact Long-Term CPI Impact -10% +10% Country (0.5)% +0.5% Country Country -0.5% +
Slide 119: Alternative Performance Measures
Investor day Strategic Vision Main figures Sustainability Sacyr Concesiones Sacyr Agua Sacyr Ingeniería e Infraestructuras Portfolio Valuation Conclusions Q&A Appendix Alternative Performance Measures The Sacyr Group presents its earnings in accordance with International Financial Reporting Standard