Sacyr strengthens its focus on P3 projects and accelerate recourse net debt reduction to further its 2021-2025 Strategic Plan

  • Thus, the company starts actively exploring a divestment process of 49% of Sacyr Services and another one for the entry of a new minority partner in Sacyr Water to speed up its growth.
  • This process will help achieving the goal of reducing recourse net debt to zero two years in advance

Sacyr has decided to actively explore the possibility of carrying out a divestment plan to fast-track the goals in the 2021-2025 Strategic Plan: to increase the focus on the P3 business, reduce recourse net debt, and promote growth in the water management business.

To achieve these goals, the market research plan relays on three actions:

Firstly, a 49% divestment of Sacyr Services. The funds from this operation will be earmarked to reducing recourse net debt.

Additionally, this selection process will look for an investment partner for 49% of Sacyr Water to promote growth in this sector, which shows promising expansion opportunities for the upcoming years.

Lastly, Sacyr will continue with the rotation of non-strategic and/or minority stakes of P3 assets in order to geographically balance the asset portfolio.

Debt reduction two years in advance

Sacyr expects these different operations to be concluded in the next year, with the end goal of drastically reducing recourse net debt two years in advance, an objective set for 2025 in the Strategic Plan.

Despite the complex macroeconomic scenario, the Strategic Plan is on the right path to successful completion. The company will close FY 2022 with revenues higher than €5 billion, close to the €5.5 billion target set for 2025.

Moreover, the goal of 85% of the group’s EBITDA coming from P3 assets was already achieved in 1H 2022. These activities, with low demand risk, produce a steady and recurring income.

More resources for growth

This divestment plan will bring in additional resources to speed up growth in infrastructure P3 assets in the group’s priority markets. Sacyr’s goal is a balanced portfolio distribution, with 33% of assets in Latin America, 33% in Europe and the remaining 33% in English-speaking countries.

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