Sacyr Sa (SYRVF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. I'm Pedro Siguenza, Chief Executive Officer of SASIR. Joining me today is Carlos Mijangos, the company's Chief Financial Officer. Thank you all for attending SASIR's Earnings School for the first quarter of fiscal year 2026. I will begin my presentation by addressing the key financials for the quarter. Revenue increased by 5% compared with the first quarter of 2025, reaching 1.116 billion euros. EBITDA rose by 9% to 327 million euros, representing a margin of 29.38%, 90 basis points higher than in Q1 2025. Operating cash flow amounted to 223 million euros, up 12% year-on-year, excluding the impact of the sale of the Colombian assets. These financial results demonstrate that the new awards now entering operation are replacing the contribution of the assets divested in Colombia that are no longer in the company's perimeters. Net profit attributable to the parent recorded a strong increase of 40%, reaching 38 million euros. Net recourse debt remained below one times, maintaining a solid financial structure and delivering on our financial commitments. Amongst the most significant milestones of the quarter, I would like to highlight the award of the Ontario Science Centre in Toronto, Our first concession in Canada, this 30-year concession will deliver what is said to become one of the country's most iconic buildings and will undoubtedly transform Toronto's skyline. It will be one of the most advanced science outreach centers in the world. With this award, for which a €645 million contract is already underway, we are taking another important step in delivering our 2024-2027 strategic plan, by expanding our portfolio as timely committed in English-speaking countries, where we are currently bidding for major opportunities and expect to secure further awards. CE...