Sacyr's profit soars 157% to 78 million and the value of its concession assets rises to 4.601 billion

Semiannual Results

Sacyr closed the first half of 2026 with a net profit of €78 million, 157% higher than in 2025, driven by the strong performance of its concession assets. The company increased its operating cash flow by 18% to €631 million and raised its cash dividend.

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The multinational infrastructure and services company Sacyr has presented solid results for the first half of 2026, a period in which it obtained a net profit of 78 million eurosThis figure represents a 157% increase compared to the same period of the previous year. This growth stems primarily from the strength of its business model focused on concession assets, which already contribute 91% of the group's EBITDA.

The company's revenue reached €2.437 billion, a 9% increase, while gross operating profit (EBITDA) stood at €708 million, also with a 9% increase. operating cash flow, a key indicator of the business's financial health, rose to 631 millones de euros, 18% more than in the same comparable period of 2025.

Keys to solid growth

The business model of SacyrFocused on concession assets with low or no demand risk, the company demonstrates its resilience and value creation capabilities. In the first half of the year, the company met its strategic objective of maintaining its net recourse debt ratio below one to recourse EBITDA plus concession distributions. In this regard, the Net debt with recourse was reduced to 264 million of euros at the end of June, compared to 289 million in March.

This performance has allowed Sacyr to increase shareholder returns. In 2026, it paid a dividend of €0,149 per share, 21% higher than in 2025, highlighting a 122% increase in cash paymentsThis policy aligns with the 2024-2027 Strategic Plan, which envisions a cash outlay of at least 225 million euros during that period.

The strategic value of concession assets

Sacyr has updated the value of its concession portfolio, which amounts to 4.601 millones de eurosThis valuation, excluding divestments already made, represents a 16% increase compared to 2025 and a remarkable 30% increase compared to the 2024 Investor Day figure. This growth is attributed to factors such as asset maturation, efficient operational management, and the awarding of new strategic projects.

The current portfolio generates a solid forecast of distributions totaling €19.900 billion, 17% higher than in the previous valuation. Strategic Plan 2024-2027 It sets an asset value target of 5.100 billion euros in 2027, with a long-term projection of between 9.000 and 10.000 billion euros by 2033.

International expansion and evolution by business areas

During the first half of the year, the company formalized four new concession agreements that strengthen its global presence. Canadá, signed its first concession in the country, the Museo de Ciencias de Ontario. In ChileThe Pie de Monte highway and the Coquimbo desalination plant were awarded to the company, strengthening its water division. Finally, in Italia, signed the contract for the City of Health and Science Novara.

Concessions

The division Sacyr Concesiones It recorded a turnover of €977 million (+20%). EBITDA stood at €402 million (+15%), reflecting solid operating performance despite the removal of assets sold from its scope of operations. ColombiaThe growth in construction revenue (+37%) was due to the start of key projects in Canadá and the pace of execution in projects of Chile, Paraguay y Colombia.

Engineering and Infrastructure

This area achieved a turnover of €1.584 million (+10%) and an EBITDA of €270 million (+4%). The project pipeline reached a record figure of 13.019 millones de euros4% more than at the end of 2025. The division's strategy focuses on risk reduction, prioritizing projects for Sacyr Concesioneswhich already represent 76% of the portfolio. The selection of Sacyr for the program Hospital 2.0 Alliance (H2A) de Inglaterra.

Water

The water division experienced remarkable growth, with revenues of €185 million (+33%) and EBITDA of €35 million (+8%). The division's net profit increased by 45%. This boost is due to strong operational performance and new projects such as the reuse plant of Antofagasta (Chile) and the acquisition of Aigües de Esparraguera (EspañaThe portfolio of Sacyr Agua It grew by 18%, to 8.200 billion euros.

Consolidated Financial Results (Thousands of euros)
Description	1S 2026	1S 2025	Was. %
Net Turnover	2.437.105	2.236.822	9,0%
EBIT	708.002	646.876	9,4%
EBIT	518.360	463.893	11,7%
Profit before tax	223.131	203.459	9,7%
NET ATTRIBUTABLE PROFIT	78.322	30.517	156,7%