Sacyr’s Strategic Vision for 2015-2020

Business model

Sacyr’s Strategic Vision for 2015-2020

 
Work at Ulster University, Belsfast,
United Kingdom
 

Profitability, risk control and sustainable growth. Our strategic vision is based on these three parameters, which drives our business model and value creation

 

Sacyr Group's operating environment provides us with new challenges and opportunities as we continue along the path we embarked upon in 2015, when the entire Company's strategy was established.

Sacyr was founded in 1986 and since then we have overcome all the challenges we have faced thanks to our people and our values.

We are a team

Thousands of people who have talent, rigour and the passion for doing a good job. We are driven by collaboration, trust in the Group, loyalty.

Strategic vision

Based on: profitability, risk control and sustainable growth.
We developed 3 areas of strategic focus that drive activities in our value-creating business model

Focus
  • Specialisation in priority business areas
  • International growth with local presence in a select group of regions/countries
Scale
  • Sustainable position against large-sized competitors
  • Ability to operate globally
Sustainability
  • Reduce corporate debt
  • Diversify sources of finance
Aplicación de mortero de base polimérica en firmes para el proyecto Hermes en Perú
Application of polymer-based mortar on pavements for the Hermes project in Peru

Solid Strategic Guides for business development

Driver of growth and stability

  • Greenfield investments focusing on Latin America and North America
  • Rotation of mature assets

2019 RESULTS

REVENUE

1,007

Millions of euros

EBITDA

331

Millions of euros

EBITDA/
REVENUE

64.7%

International leader in large projects

  • International growth focusing on Latin America, North American and the Middle East
  • Combination of organic growth, alliances and inorganic growth in North America (agreement with Manhattan Construction Group)

2019 RESULTS

REVENUE

2,074

Millions of euros

EBITDA

253

Millions of euros

EBITDA/
REVENUE

12.2%

Positioning in energy

  • Strong development in the sector focusing in oil & gas, renewable energy and water, and in Latin America, North America and the Middle East
  • Reinforcement of capacities by a combination of organic growth, alliances and inorganic growth
  • Joint venture with Fluor (Sacyr Fluor)

2019 RESULTS

REVENUE

352

Millions of euros

EBITDA

23

Millions of euros

EBITDA/
REVENUE

6.6%

Quality and technology

  • Infrastructure maintenance: increase capacities/ specialisation and attain scale
  • Environment and facilities: organic growth in Spain and international expansion following the other divisions of the Group
  • Water: development with international focus in Latin America, North America and the Middle East

2019 RESULTS

REVENUE

1,137

Millions of euros

EBITDA

109

Millions of euros

EBITDA/
REVENUE

9.6%

80% of EBITDA comes from concession assets
(infrastructure, water, circular economy and renewable energy)

CONSOLIDATED INCOME STATEMENT (€ thousand) 2019 2018 Chg. 19/18
Revenue 4,169,467 3,795,717 9,8%
Other income 367,192 322,391 13,9%
Total operating income 4,536,659 4,118,108 10,2%
External and operating expenses -3,856,901 -3,574,819 7,9%
EBITDA* 679,758 543,289 25,1%
Depreciation and amortisation -254,126 -138,030 84,1%
Provisions and other non-recurring expenses 15,350 -40,376 -138,0%
EBIT 440,982 364,883 20,9%
Financial result -315,920 -247,260 27,8%
Gains/losses on exchange differences 5,798 48,206 -88,0%
Share of profit from equity-method companies -259,841 200,979 -229,3%
Provisions for financial investments 11,317 -57,600 n.a.
Change in value of financial instruments at fair value through profit or loss -112,682 -11,140 n.a.
Gain/(loss) on disposal of non-current assets 46486 -12,544 n.a.
Profit before tax -183,860 285,525 n.a.
Income tax -89,327 -77,098 15,9%
PROFIT/(LOSS) FROM CONTINUING OPERATIONS -273,187 208,427 n.a.
PROFIT/(LOSS) FROM DISCONTINUED OPERATIONS 0 0 n.a
CONSOLIDATED PROFIT FOR THE YEAR -273,187 208,427 n.a.
Attributable to non-controlling interests -24,546 -58,030 -57,7%
NET ATTRIBUTABLE PROFIT -297,733 150,398 n.a.
Gross margin 16,30% 14,30%

(*): data exclude intakes from water treatment plants operated by Sacyr Agua.

CONSOLIDATED BALANCE SHEET (€ thousand) 2019 2018 Chg. 19/18
Non-current assets 9,309,908 8,895,503 414,405
Intangible assets 21,572 25,901 -4,329
Concession projects 876,679 1,353,656 -476,977
Property, plant and equipment 334,175 441,230 -107,055
Rights of use on leased assets 135,052 0 135,052
Financial assets 3.174,682 3.335,804 -161,122
Receivables from concessions 4,576,454 3,552,834 1,023,620
Other non-current assets 94,967 19,444 75,523
Current assets 4,597,115 4,954,307 -357,192
Non-current assets held for sale 347,254 362,172 -14,918
Inventories 241,321 209,331 31,990
Receivables from concessions 328,912 293,238 35,674
Receivables 1,990,911 1,974,908 16,003
Financial assets 76,821 124,446 -47,625
Cash 1,611,896 1,990,212 -378,316
TOTAL ASSETS/LIABILITIES 13,907,023 13,849,810 57,213
Equity 1,190,370 1,507,190 -316,820
Shareholders' equity 825,198 1,145,833 -320,635
Non-controlling interests 365,172 361,358 3,814
Non-current liabilities 8,178,417 7,915,873 262,544
Financial debt 5,070,098 5,061,232 8,866
Financial instruments at fair value 209,410 105,917 103,493
Lease obligations 90,296 0 90,296
Provisions 214,396 313,917 -99,521
Other non-current liabilities 976,775 817,365 159,410
Other hedged debt 1,617,442 1,617,442 0
Current liabilities 4,538,236 4,426,746 111,490
Liabilities associated with assets classified as held for sale 227,543 170,236 57,307
Financial debt 931,869 1,097,331 -165,462
Financial instruments at fair value 20,555 18,953 1,602
Lease obligations 38,338 0 38,338
Trade payables 2,466,050 2,431,138 34,912
Operating provisions 204,108 157,225 46,883
Other current liabilities 649,773 551,863 97,910

At Sacyr, creativity and innovation grow with each of the projects we undertake


Occidente-Devimar Tunnel, Medellin, Colombia
Occidente-Devimar Tunnel, Medellin, Colombia

Priority technologies for the Sacyr group

Priority technologies for the Sacyr group

We innovate to improve people's quality of life


Tunel de occidente-Devimar, Medellín, Colombia
Interior of the Quirón Hospital in Pozuelo de Alarcón. Madrid. Spain

Sacyr Group innovation strategy

At Sacyr, we innovate to improve people's quality of life through the implementation of large infrastructure and service projects that generate value for our employees, customers and shareholders. We seek change because we want to build a better planet. A world made by and for citizens. Without borders. A world that changes along with us and that we change thanks to the power of our talent and energy. Innovation is the cornerstone that supports the whole transformation process.

Our model rests on four key premises:

Evolution of Sacyr's activity in innovation

Sacyr is carrying out an ambitious development of its innovation activity. Since 2004, we have obtained external and official recognition in the form of funding, subsidies or certification of our content as an R&D&I activity, across a wide portfolio of projects through different tenders from public bodies.

Priority areas of innovation

Certification of the R&D Management System

We see technological innovation, research and development as critical factors in ensuring business success. For this reason, we have an R&D+i Management System certified by AENOR, in accordance with the UNE 166002.214 standard, which helps us to rationalise and systematise all our R&D+i activities.


At Sacyr, we combine synergies, create global teams and contribute to innovation and technology anywhere in the world


Sacyr iChallenges

Sacyr iChallenges is our open innovation and co-creation programme aimed at solving business challenges posed by the company alongside partners in the innovation ecosystem. For more tan nine years, we have committed to collaboration and co-creation with the innovative ecosystem on a global level.

At the last staging of Sacyr iChallenges we expanded the spectrum of innovative agents with whom to co-create in order to consolidate our position as a benchmark programme for open innovation. The programme is open to proposals from large companies, technology firms, joint ventures, research centres, universities, start-ups, etc. Sacyr wants to work alongside all the innovative players that can provide solutions to the challenges posed by its initiative.

These challenges aim to optimise and improve our processes through innovative solutions or new business models in different areas: Engineering and Infrastructure, Industrial, Services and Concessions.

Further information on previous editions of the awards and new calls for entries can be found on the Sacyr iChallenges website: www.sacyrichallenges.com

Rotonda General Bonilla, Ruta Concepción Cabrero. Chile
General Bonilla Roundabout, Concepción Cabrero Route. Chile
SACYR Informe

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