Sacyr Group turns fortunes around

Spanish contractor Sacyr Group saw figures back in the black this year as the company reported an attributable net profit of €82.4 million for the first nine months ended September 2013 - up considerably on last year’s loss.

According to the company, its financial turnaround was a result of a good business performance that saw Sacyr refocus on its core businesses of construction, infrastructure, concessions and services. The company also launched a new industrial division and entered new markets, as it continued its international expansion in 2013.

Operating revenue for the group totalled €2.4 billion, down by 5% on the first to third quarter 2012 figures. Sacyr attributed this to a continued slowdown in its domestic market.

International turnover accounted for 55% of the total, up from a 42% share the previous year. This year saw Sacyr enter five new markets - the UK, Peru, Qatar, India and Mozambique, as well as securing new business in Brazil, Chile, Angola and Cape Verde. The group plans to continue its international expansion in the coming quarters.

Sacyr’s backlog stood at €37.8 billion at 30 September, 2013.