Sacyr Construcción.- The earnings from this area amounted to €337 million, representing an 8% drop, due mainly to the deceleration of Somague's activity, although it is expected to increase throughout the financial year due to the greater contribution from the contracts in Colombia, Italy, United Kingdom, and Mexico. The EBITDA sustained a slight drop, down to €13 million, due to deceleration in some of Somague's projects.

The portfolio of construction projects amounts to over €4.82 billion and reflects the wise strategy of focusing on international contracting, which represents 84% of the total portfolio. In the first quarter of the financial year, the construction firm won a contract in Angola amounting to €118 million, the construction of a school in the Azores (Portugal) in the amount of €5 million, and an industrial building in Rivas Vaciamadrid (Madrid) for €16 million.

Sacyr Concesiones.- Total revenue reached €132 million in the first quarter of the year (+3% on a like-for-like basis). €70.6 million correspond to concession earnings, which grew 11% due to the improvement of traffic on Spanish concessions (+7%), the entry into operation of the Rutas del Desierto (Chile), and the contributions by income from the Rutas del Algarrobo and Valles del Desierto concessions (Chile). The remaining turnover corresponds to construction earnings, which varied -12% due to the state of progress of construction in our concessions in Chile and Peru in the first quarter.

The generated EBITDA amounts to 46.9 million (7% more than one year ago). The portfolio of the activity amounts to over 12.81 billion, with 58% of the revenue backlog coming from abroad, versus 43% one year ago.

In the first quarter of the year, Sacyr Concesiones finalized the divestment of 98% of the holding company of the equity holdings from the concession of three hospitals in Portugal, for €113 million.

Sacyr Industrial.- The total revenue of Sacyr Industrial grew 63%, up to €86.3 million, and the EBITDA was €6.9 million (+57%), which represents a business margin of 8%. The portfolio also evolved positively, amounting to over €2.48 billion.

The turnover from oil and gas projects tripled, up to €53.3 million, with €6.3 million (+80%) from electrical infrastructures, €2.4 million from environmental and mining, and 23.7 million euros from generation (-36% due to the decrease in the price of the electricity pool because of weather conditions that favored other renewable energies).

In the first quarter of the year, Sacyr Industrial was awarded with its first contract in Ecuador: expansion of the Chimborazo cement plant in Riobamba for €150 million.

Valoriza. Revenue at Valoriza amounted to €187.6 million (+7%), led by increases in the Environment (+5%) and Multiservices (+13%) businesses. The EBITDA reached €14.2 million, which represents a margin of 7.6%. The breakdown of revenue by area was: Environment, €77.6 million; Multiservices, €80.7 million; and Water, €28.7 million. The EBITDA amounted to €14.3 million, and the EBITDA margin is 7.6%. The slight contraction of water activity is due to the handover of the Israel desalination plant. This activity will grow in the upcoming quarters due to the turnover from the plant recently awarded in Sohar (Oman).

Valoriza's revenue backlog stands at over €6.18 billion, of which 32% involves international projects. Highlights from the financial year include the following: the contract awarded to Valoriza Agua for the Sohar desalination plant in Oman in the amount of $1.2 billion; Valoriza Servicios Medioambientales was awarded a contract for the collection and transport of solid urban waste, roadway cleaning, and beach cleaning on Ibiza for 68 million; Valoriza Servicios a la Dependencia will provide the domestic assistance services in the districts of Gracia and El Ensanche (in Barcelona) for the amount of 29 million; and Valoriza Facilities will provide the cleaning services for the buildings and facilities of hospitals and health centers in Elche, Alcoy, and Requena for 15 million.

Sacyr SA published this content on 06 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 May 2016 11:47:02 UTC.

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