Spanish construction company Sacyr has announced that its net profit for the first nine months of the year rose by 36%, in line with analysts' expectations, thanks to its toll road business, whose revenues are linked to inflation.

Sacyr posted a net profit of 92.4 million euros ($98.18 million), while its earnings before interest, taxes, depreciation and amortization (EBITDA), a measure of operating profitability, rose 12% to 980 million euros.

Its highway concession contracts, a business that the company intends to make its core business, accounted for 90% of its EBITDA.

Sacyr, one of the world's largest transport infrastructure operators, had a turnover of 3.24 billion euros in the first nine months of the year, compared to 3.46 billion euros a year ago. The indicators were in line with analysts' expectations.

Sacyr said the value of its concession assets will reach 3.2 billion euros by December 2023.

Toll roads in several Latin American countries, in the United States and Canada and in Italy will provide the construction group with cash flow for the next 25 years, it said. Most of Sacyr's concession contracts are linked to inflation.

Sacyr agreed earlier this year to sell its cleaning services subsidiary Sacyr Facilities businesses and its waste management subsidiary Valoriza.

The sale of Valoriza to Morgan Stanley Infrastructure Partners was completed at the end of October and that of Sacyr Facilities will close before the end of this year.

The infrastructure company said it had used the proceeds from the asset sales to reduce its debts and focus on its concessions business.

(1 dollar = 0.9412 euros)

(Reporting by Corina Pons, editing by Inti Landauro and Tomasz Janowski; Edited in Spanish by Flora Gómez)