Sacyr

In Spain 17th September 2023

Sacyr awarded railway construction project in Italy worth €645 million

Intermoney : Sacyr (SCYR) (Buy, PO 4.0 €), as reported on Thursday by the Group with the market open, together with its Italian partner Fininc, has been awarded the construction of a railway line in Catania (Sicily). The project, by Metropolitana Circumetnea, envisages the design and execution of a 10.6 km route between the Misterbianco station and the Ardizzone tunnel, with an investment of around €532 million. In total, the…

In the World 30th August 2023

Abertis and Sacyr bid for concession of four motorways in Puerto Rico, valued at over €2,000 million

Link Securities| Both companies submitted binding bids on Monday for the concession contracts to rehabilitate, maintain and operate four motorways in Puerto Rico, in a deal valued at more than €2 billion, the digital newspaper elEconomista.es reports today. Both Abertis and Sacyr, which declined to confirm their participation, were shortlisted last year by the Public-Private Partnerships Authority (AAPP) to compete in the final bidding for the privatisation of motorways PR-52,…

Spanish economy 13th June 2023

Sacyr sells environmental services business to Morgan Stanley for €734 million (9x EBITDA22)

Sacyr has just announced the sale of 100% of its environmental services business (Valoriza Servicios), for an enterprise value of €734 million, to a company owned by funds managed by Morgan Stanley Infrastructute Partners. The value of the equity is estimated by Sacyr at €425 million, and the transaction is expected to close in 4Q of this year. The capital gains generated are estimated at €270 million. The company states…

Spanish economy 27th March 2023

Sacyr receives 15 bids for its services business, valued at around €500 million

Intermoney | Sacyr has received up to 15 bids for its services business, currently in the process of being sold, according to Cinco Días newspaper. Specifically, the businesses affected are Valoriza Servicios, dedicated to environmental activities, and Sacyr Facilities, focused on maintenance of buildings and facilities. The company expects to complete the process in about three months. Cinco Días reports that the sale price for 100% of these businesses would…

Companies, Ibex, Spanish economy 29th October 2022

Sacyr’s risk profile is lower than the market assumes: Buy (T.P. 3,6 euros/share)

Intermoney | Results 9M 2022e on 7 November – EBITDA +26%, still reflecting the impact of costs in construction. Sacyr will announce its results on Monday 7 November before the market opening, with a conference call at 1300. We expect the company will have continued with the growth seen in past quarters. However, this will have relaxed vs H1’22 due to the impact of the rise in costs and more demanding…

Companies, Ibex, Spanish economy 9th August 2022

Sacyr wins road works contract in Colombia for an investment of €900 M

Intermoney | Sacyr (Buy, Target Price 3,4 euros/share) has won the concession to improve and finish a dual carriageway running between the Colombian municipalities of Buga and Buenaventura, according to the daily Cinco Dias. The investment will be 900 million euros. The length of the new stretch of road is 128 km, and it will be complemented with other works and maintenance jobs on other roads, for a total of 244…

Spanish economy 8th July 2022

CNMC Fines Major Spanish Construction Companies 203 Million Euros For Sharing Contracts Until 2017

The National Markets and Competition Commission (CNMC) has fined six of Spain’s leading construction companies 203.6 million euros for having altered thousands of public tenders for building and civil works infrastructure contracts over 25 years. The companies penalised are Acciona, Dragados, FCC, Ferrovial, OHLA and Sacyr. According to the CNMC, between 1992 and April 2017, the construction companies met weekly to analyse tenders for works carried out by the various…

Spanish economy 6th June 2022

Sacyr Sells 2.9% Of Repsol And Exits The Share Capital

The construction company Sacyr – which hopes to return to the selective Ibex 35 on the 9th – has sold its stake in Repsol 16 years after its entry. At that time, the Sacyr Group invested over 6 billion euros in 20% of the capital, at an average price of 26.71 euros. According to the company, the sale operation has been possible thanks to the increase in the price of…

Markets, Spanish economy, Spanish Small & Mid Caps 30th October 2020

Sacyr Divests Its Construction Business In Africa To Focus On Concessions In Its Key Markets

Sacyr’s selling its construction subsidiaries in Angola, Mozambique and Cape Verde is part of firm’s strategy to reduce the risk of building in non-strategic markets and to focus on concessions in its key markets. This activity already accounts for nearly 80% of the group’s EBITDA. According to analysts at Alphavalue, Sacyr, with a capitalization of just around €800 M, has been “the most resilient” company in the concessions’ sector during the confinement thanks to the type of contracs it has signed.

Markets, Spanish Small & Mid Caps 30th January 2020

Norges Bank’s Stake In Sacyr Exceeds 3% Once Again

Norges Bank has raised its stake in Sacyr to 3.56% from the 2.9% it currently held, once again exceeding 3 pct of the construction and concessions group’s capital. The move coincided with the group’s decision to refocus its strategy on expanding its concession business outside Spain.

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