Latest news with #Sacyr
Yahoo
2 days ago
- Business
- Yahoo
Sacyr sells Colombian assets for $1.6 billion
(Reuters) -Spanish engineering firm Sacyr has agreed to sell its stake in three toll roads in different regions of Colombia for $1.6 billion, the company said on Tuesday, as it raises cash to expand in the United States. Infrastructure fund Actis will take over the assets in Colombia, Sacyr said in a filing to the stock market regulator. The transaction, which is expected to conclude in the second half of this year, will generate a cash inflow worth $318 million, it added. Sacyr, which focuses on motorway concessions, said earlier this year that it intended to sell assets in Colombia and Chile and was looking for partners to bid for larger and more lucrative highway projects in the U.S. where it competes with bigger construction firms. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
2 days ago
- Business
- Reuters
Sacyr sells Colombian assets for $1.6 billion
June 10 (Reuters) - Spanish engineering firm Sacyr ( opens new tab has agreed to sell its stake in three toll roads in different regions of Colombia for $1.6 billion, the company said on Tuesday, as it raises cash to expand in the United States. Infrastructure fund Actis will take over the assets in Colombia, Sacyr said in a filing to the stock market regulator. The transaction, which is expected to conclude in the second half of this year, will generate a cash inflow worth $318 million, it added. Sacyr, which focuses on motorway concessions, said earlier this year that it intended to sell assets in Colombia and Chile and was looking for partners to bid for larger and more lucrative highway projects in the U.S. where it competes with bigger construction firms.
Reuters
27-02-2025
- Business
- Reuters
Sacyr 2024 profit up 7%, misses forecast, as revenue from completed projects drops
MADRID, Feb 27 (Reuters) - Spanish engineering company Sacyr ( opens new tab posted on Thursday a 7% rise in 2024 net profit, missing market expectations, due to a cyclical drop in revenue after completing construction projects for which it had mostly already been paid. Sacyr finished building several motorways in Latin America and in Italy in the past two years. The company typically receives less for operating these roads compared to during their construction phase, although it has said it has sufficient cash flow for the next 25 years. Sacyr's net profit rose to 113.4 million euros ($118.08 million), below an average of 126 million euros expected by analysts polled by LSEG. Revenues dropped 1% to 4.57 billion euros, as analysts expected. Last year, the company had reported 153 million euros in net profit for 2023, including gains from some divestments, but it has changed the proforma comparison since. The Madrid-based company in 2023 sold its services business to focus on building and running infrastructure projects such as motorways. It is seeking a partner this year to bring cash and allow it to bid for larger, more profitable projects in the U.S. and Canada. Sacyr missed its target to record double-digit core earnings growth in 2023 and 2024. Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 10% in 2024 after rising 7% the year before. ($1 = 0.9603 euros)
