Through its subsidiary, Dragados, and in partnership with Amey and Costain, it will carry out improvement works at South Kensington and Elephant & Castle Underground stations, expected to take up to four years. Report by Link Securities Dragados, a subsidiary of ACS, is one of three companies to have secured a framework contract with Transport for London (TfL), the public body that manages public transport in the English capital, to…

Reported by Consejeros Editorial Team ACS Chairman Florentino Pérez highlighted the company’s remarkable stock market appreciation during the 2026 annual general meeting held last Friday. The Spanish construction firm’s share price rose by 100% last year and has risen by a further 62% this year, reaching nearly 140 per share. According to Pérez, this success is down to rigorous risk management and efficient resource allocation. Consequently, he announced an annual…

Intermoney | ACS (Hold, Target Price €90 from €84) will announce its results for the year to 26 March next Tuesday, 12 May, likely after the market opens, holding a conference call on the same day at 12 noon. Almost all relevant operational figures will then already be known following Hochtief’s publication the previous day. In these results, we expect a slowdown in year-on-year EBITDA growth due to a strong…

Morgan Stanley | Nic Mora (analyst) upgrades ACS to OW, seeing greater growth potential in its data centre construction division. Nic acknowledges the strong share price rally (5x in 4 years), which reflects the impressive data centre construction business (Turner), with global leadership, growth and potential for margin expansion. His new EBITDA estimates are 9–15% above the consensus, driven by both revenue growth and improved margins in data centres. Furthermore,…

Link Securities | Cimic, the Australian subsidiary of ACS, has been awarded a contract to develop a large-scale data centre project in Malaysia, further consolidating its presence in the Asian region. Its subsidiary Leighton Asia will be responsible for the comprehensive execution of the campus works, drawing on its regional expertise and strong partnerships with suppliers. Preliminary works and preparatory activities have enabled a smooth transition to the execution of…

Link Securities | ACS (ACS) has strengthened its position in the UK by winning, through a consortium in which its subsidiary Hochtief is a partner, a €200 million contract for the University of Southampton’s accommodation project, according to the newspaper Expansión. The University of Southampton plans to increase its student numbers to 30,000 by 2031 and needs to expand its accommodation facilities to meet this demand. Hochtief, which forms part…

Alphavalue / Divacons | Hochtief, the German subsidiary of ACS, has been awarded a €900 million contract in Sweden to design and extend a 26-kilometre section of the East Link railway line near Stockholm. The project, carried out in collaboration with Swedish administrator Trafikverket, is scheduled for completion in 2024, strengthening the group’s infrastructure portfolio in the Scandinavian market. The OL31 Vagnhärad project, located southwest of Stockholm, is part of…