Tecnicas Reunidas S A : Técnicas Reunidas identifies opportunities for new projects worth €90 billion in the context of the conflict in the Gulf

About this update from Tecnicas Reunidas Sa

On the occasion of the publication of these results, Juan Lladó, Executive Chairman of Técnicas Reunidas, has stated that "the first quarter of 2026 has demonstrated Técnicas Reunidas' solid business performance, reflected in the growth in revenues, cash generation and underlying EBIT. We have also shown the strength of our project management capabilities and our resilience in navigating highly complex environments, such as the current situation in the Middle East. I would like to take this opportunity to express Técnicas Reunidas' solidarity and support for all those affected by the ongoing conflict. Despite the disruptions affecting some projects in the Middle East, execution levels have remained strong. Revenues reached a solid €1,583 million during the period. At the same time, cash generation remained robust, enabling us to close the quarter with a net cash position of €360 million, further strengthening our balance sheet. However, although underlying EBIT reached €76 million, our quarterly results have inevitably been impacted by the ongoing conflict in the Middle East. We believe it is essential to address these temporary disruptions with transparency and prudence while the current uncertainties persist. In this context, we have recognized a provision of €45 million in our accounts, representing our best estimate of the additional costs associated with the situation, assuming that hostilities do not resume and that the Strait of Hormuz reopens in the second quarter of 2026. I would also like to emphasize that we have not experienced any project cancellations. Our clients, with whom we continue to work closely, are requesting our support both for ongoing activities and for the assessment and recovery of certain damaged facilities. In full coordination with our clients, Técnicas Reunidas has implemented a comprehensive and disciplined crisis management approach aimed at protecting our people, supporting project continuity, and safeguarding the company's interests. Beyond these short-term disruptions, we remain highly optimistic about the near future. The current environment is also giving rise to new opportunities. We are witnessing a clear acceleration of key structural trends, including the diversification of energy supply, increasing investment not only in the Middle East but also across other regions, and growing demand for gas, power and electri...

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