Sacyr Sa (SYRVF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

I'm Pedro Siguenza, CEO of SACIR. Joining me today is Carlos Mijangos, the company's chief financial officer. Thank you all very much for attending the earnings call of SACIR for the third quarter of fiscal year 2025. CIR continues to grow in line with its 2024-2027 strategic plan, bolstered by the strength of our concession model and backed by the key figures reported in Q3. Revenue grew by 5% compared to the prior year, reaching 3.412 billion euros. Net profit, excluding the effect of divestments in Colombia, rose by 81% to 132 million euros. 92% of EBITDA comes from our concession activities. Operating cash flow increased by 11% to 890 million euros, and we have invested 232 million euros of new capital in the first nine months of the year, bringing the total equity invested in our concessions at the end of September to 2.17 billion euros. Among the most significant milestones of the year, I would like to highlight the four that are shown on the slide. The four new concession awards in Italy, Chile, and Paraguay, which I will describe later, and which represent a clear success in terms of backlog. The investment rating obtained from the global agency Morningstar, DBRS, which will facilitate and increase our sources of financing. Next, our presence intended for the most relevant concession projects currently on the market where we are confident that we will continue to win contracts. As a fourth milestone, I can announce that the divestment of our free concession assets in Colombia has already obtained all the necessary authorizations, so the transaction will be closed and payment will be received during the month of November. As I mentioned, In fiscal year 2025, we have been awarded four new concession projects, which implies a hit rate of 50% on the bids timely s...