Upon the release of these results, Juan Lladó, CEO of Técnicas Reunidas, stated that "The first half of 2026 has confirmed the strength and resilience of Técnicas Reunidas' business model. Despite the challenges experienced in the Middle East, we delivered record revenues, strong profitability and robust cash generation. At the same time, we continued to secure major strategic projects that reinforce our medium- and long-term growth strategy.
In the Middle East, project execution is progressively returning to normal operating conditions, while client payments continue to be received on schedule. Accordingly, the €45 million provision recognized in the first quarter remains appropriate, and we remain comfortable with this position.
Our commercial performance during the first half of the year has been exceptional. We have already secured €6 billion in new orders, including the largest contract ever awarded to Técnicas Reunidas as a sole contractor. We now expect total order intake for 2026 to exceed €8 billion, further strengthening our record backlog and providing outstanding visibility for future growth.
Beyond our leadership in the Middle East, we are making significant progress in the strategic areas that will shape the future of Técnicas Reunidas. Power generation and North America are emerging as two key growth engines and are expected to become increasingly important contributors to our revenues in the years ahead. At the same time, our growth strategy remains firmly focused on profitability. The continued expansion of our services business, together with our Digitalization, Artificial Intelligence and Robotics capabilities, offers attractive opportunities to enhance margins and create additional value for our clients.
We are excited about the future of Técnicas Reunidas. The fundamentals of our industry remain highly supportive, with global demand for energy and power infrastructure continuing to grow at a rapid pace. Today, Técnicas Reunidas is stronger, more diversified and better positioned than ever to seize the many opportunities ahead and deliver sustainable, profitable growth for our shareholders."