sacyr.com Results 2018 First Half 27 July 2018
Table of Contents Highlights Operational Development Performance by Business Area Annexes
Highlights Operational Growth Increase in Revenues +18% Revenue increases in all business areas Focused on business profitability • EBITDA €239M +25% Profitability ✓ Eng & Infrastructures ↑ 184% ✓ Concessions ↑ 15% ✓ Services ↑ 13% ✓ Industrial ↑ 5% Group EBITDA Margin 1H 2018 13.2% vs 1S 2017 12.5% • EBIT €170M +25% • Sacyr enters USA , with three projects, meeting one of the milestones of its strategic plan 2015-2020 International Expansion • Relevant awards in strategic markets : Chile, Northern Ireland, Brazil, Peru, Colombia, Australia… • Backlog €42,122M 71% International (Construction 89% - Concessions 82%) Rutas del Desierto • Revenue 60% International 3 1H2018 – Presentation of Results
Highlights Corporate Shareholder Remuneration Shareholder Restart of dividend policy. 2018 profitability = 4.2% Remuneration • January 2018: Scrip Dividend ✓ 1x48 shares or 0.052€ cash ✓ 95.86% of shareholders chose to receive shares • July 2018: Scrip Dividend ✓ 1x48 shares or 0.051€ cash ✓ More than 85% of shareholders chose shares Issue of EMTN program (Euro Medium Term Note Programme) Diversification of Maximum aggregate balance €500 M Funding Sources Bonds between 2 and 7 years Financial closing of 2 projects in Mexico Financial closing • Tlahuac Hospital in Mexico City for an amount of €88 M • Pirámides-Tulancingo-Pachuca highway for an amount of €75 M 4 1H2018 – Presentation of Results
Table of Contents Highlights Operational Development Performance by Business Area Annexes
Operational Development Key Figures (€ Million) 1H 2018 1H 2017 Var. Revenue 1,803 1,523 +18% International 60% 57% +3 p.p. EBITDA 239 191 +25% EBITDA Margin 13.2% 12.5% +0.7 p.p. EBIT 170 136 +25% Financial Result -114 -88 +30% Net Profit 72 60 +20% (€ Million) 1H 2018 1H 2017 Var. Backlog 42,122 30,165 +40% 6 1H2018 – Presentation of Results
Operational Development Contribution by Activity Industrial Industrial Eng & Industrial Eng & Infras. Infras. Services Eng & Services Infras. Revenue EBITDA Backlog Services 1H 2018 1H 2018 1H 2018 Concessions Concessions Concessions Ebitda evolution Profitability € Million • 1H 2017 13.2% • 1H 2018 YoY +25% Growth in all business areas 7 1H2018 – Presentation of Results
Operational Development Backlog: 12-month variation and internationalization Group Backlog 10-year Internationalization Concessions Backlog 71% +40% +60% 1H 2018 International 27% 2008 International Other 3% €1,000m Europe Oceania 1.4% 59% €25,000m Spain Africa 1.3% Asia 0.3% 29% €12,000m America 38% €16,000m 8 1H2018 – Presentation of Results
Operational Development Main contract awards 1H 2018 • Construction of A6 highway in Northern • Sacyr Water. Management of the water cycle • Design and construction of one water Through a consortium led by Sacyr Concesiones, Ireland (United Kingdom). €161 M. the company will carry out the enlargement, in Sotogrande (Cádiz) for 35 years. €400 M. treatment plant in Adelaida (Australia). €85M. construction, upgrading and operation of El • Construction and equipment of Alto Hospicio • Waste collection and transport, street • Construction of one fuel storage and Tepual Airport in Puerto Montt. Hospital in Tarapacá, Chile. €95 M. cleaning and green areas maintenance in distribution facility in Mollendo (Peru). €31M. Bogotá (Colombia). €170 M. 8 -year term. 6-year concession term. • Reconstruction, renovation and widening of a • Construction of several photovoltaic facilities • Cleaning and maintenance of Santiago Metro 12-kilometer section of I75 road. West in Ciudad Real, Spain. €46 M. Backlog €58 M. Florida (USA). €70 M. lines (Chile). €30 M. 42 -month + 12. • Reconversion of Parque de las Astillas in • Expansion of SR82 highway and design and • Management and conservation of 2 roads in Huelva, Spain. €8 M. construction of three new streets and Peru. Total amount €14 M. extension and improvement of two existing • Home Assistance in Madrid. €56 M. 2 years. streets in Miami (USA). €45 M. • Cleaning and waste recovery in Melilla. €53 • Construction and recovery of several M. 4-year concession term + 2. buildings for the Pan American Games 2019 • Cleaning of several metro stations in Madrid. (Peru). €44 M. €34M. 4 -year concession term. • Recovery and upgrading of several urban sites • Home assistance in Valladolid and Ávila. €30 (Colombia). Total €38 M. M. 3 and 2 year term respectively. • Enlargement, construction and upgrading of • Waste recovery and street cleaning in Lérida. El Tepual airport (Chile). €33 M. €28 M. 6 -year concession term. • Construction of one section of San Sebastián • Conservation and maintenance of AP- 66, €10 Subway (Spain). Total €53 M. M. 3-year concession term. • Construction of several tunnels in Plaza de Las • Management of water purification plants for Glories, Barcelona (Spain). €24 M. the agro-food industry. Edares in Asturias and • July 2018. Building the Eastern Line of the Madrid. Fortaleza Metro (Brazil). 9 1H2018 – Presentation of Results
Operational Development Main awardings 1H 2018 • Eng & Infrastructures Construction of one sector of San Sebastián subway. Total €53 M. • Concessions Construction of tunnels in Plaza de • Services las Glories. €24 M. Construction of A6 highway • Industrial €161 M. Enlargement and recovery Hospital Quiron. €18 M. Construction of an hotel in Manga del Mar Menor. €11 M. Management of water cycle in Sotogrande, Cádiz. €400 M. 35 - Preferred bidder for the Enlargement of SR82 highway. €36 M. year term. construction and operation of one waste Design and construction of several Home assistance in Madrid. €56 M. treatment plant. streets and extensión of two existing 2-year term. roads in Miami- Dade. €9 M. Street cleaning and waste recovery Reconstruction, renovation and in Melilla. €53 M. 4 -year term + 2 widening of I75 road. €70 M. Recovery and upgrading of several urban Cleaning of metro stations in zones in Bogotá. €38 M. Madrid. €34 M. 4 -year term. Waste collection and transport, and Home assistance in Valladolid and Street cleaning in Bogotá. €170 M. July 2018. Construction of the Avila. €30 M. 8-year term. Eastern Line of Metro Fotaleza. Construction of several photovoltaic facilities in Ciudad Waste recovery and street cleaning Buildings for Pan-American Games Enlargement of El Tepual Airport. Real. €46 M. in Lérida. €28 M. 6 -year term. 2019. €44 M. €33 M. Reconversion of Parque de las Management and conservation of Construction of Alto Hospicio Astillas in Huelva. €8 M. two roads. €14 M. Hospital. €95 M. Operation of El Tepual Airport. €58 Construction of storage depot and M. 6-year term. fuel distribution. €31 M. Cleaning and maintenance of several metro lines in Santiago de EPC agricultural water Chile. €30 M. 42 -month + 12 treatment plant. €85 M. term. 10 1H2018 – Presentation of Results º
Debt Evolution Net Debt Evolution € Million -19 378 -48 114 114 3,719 -239 3,421 -41 153 -41 Net Debt EBITDA Working Other operating Financial Investments Divestments Financing flows + Net Debt 2H 2017 Capital flows + tax Result forex + other 1H 2018 Debt increase due to Variation in debt Debt increase Net Debt Net Debt Debt decrease due to operating flow due to net investment due to financing with with (127) financial result recourse recourse 359 flow 114 904 995 (48) 11 1H2018 – Presentation of Results
Table of Contents Highlights Operational Development Performance by Business Area Annexes
Performance by Business Area Engineering & Infrastructures Main Figures Revenue € Million 1H 2018 1H 2017 Var. 27% increase over 1H 2017 due to international activity Revenue 804 632 +27% growth (+62%). Ebitda EBITDA 61 22 +184% 184% increase. Margin 7.6%. Good pace of execution in big projects in Italy, Colombia, Uruguay, Perú, Paraguay, Mexico… EBITDA Margin 7.6% 3.4% +4.2 p.p. Backlog Backlog = €5,859 M. Backlog (1H18 / 1H17) 5,859 5,868 89% out of Spain. % International backlog 89% 90% 43 months of activity. Inaugurations: • New section of 5.5 km length of Line 2 in Metro de Sao Paulo. • Liceo Mutu-Ya-Kevela School in Luanda (Angola). Strategic Milestone During the first half of 2018 Sacyr won three construction Puente Hisgaura contracts in USA, in the Florida area. These contracts amount to total backlog of €115 M. 13 1H2018 – Presentation of Results
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