challenge success - sacyr 2020 eng… · tech heavy quality of their executed works compliance...
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Challenge Success
sacyr.com
Group overview
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MilestonesCompany is founded
2
1986
1996
2000 2004
2006 2013
2014
20152003
2009
First concession awarded in Chile
Somague acquired (27%) *100% -2004
Public services business strengthened
Stake inRepsol
Awarded Panama Canal expansion contract
Birth of Sacyr Concesiones
Change of corporate name
Capital structure enhanced
Birth of Sacyr Fluor
2016
Opening of the Panama Canal expansion
2017
2018
New corporate identity
Cancellation of Repsol debt
2019
4th largest global developer of
greenfield projects
1st infrastructure company in Chile
and Colombia
2nd largest contractor in Latin
America
Stock market flotation
Group overview
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INVESTMENT
▪Focused on construction activities:
– Civil works
– Building
– Turnkey/EPC
▪Tech heavy
▪ Quality of their executed works
▪ Compliance deadlines
▪ Investment portfolio in transport and social infrastructure in 10 countries:
– 45 assets with 13.3 billion investment managed
▪Remaining asset life of27 years
▪ Specialist in greenfield projects, generating value across all phases of the asset life cycle
▪High growth potential and increasing value
▪Focused on public services concessions:
– Water, environment, facilities, conservation and catering
– Stable cash generating activity in the long run
▪Sound portfolio of public and private contracts
▪Long and distinguished track record
▪Improving turnover and margins
▪Focused on EPC projects related to energy, oil, & gas waste treatment and water:
- +100 power plants
- +300 water plants
– Technical and technological experts
– Great growth potential
– Joint venture with Fluor
8% stake in Repsol
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Backlog
Group overview
€42,965 Mbacklog
Canada
United States
Mexico
Panama
Ecuador
Peru
Chile
Bolivia
Colombia
Paraguay
Brazil
UruguayAustralia
United Kingdom
Ireland
Portugal
Spain
ItalyQatarOman
Revenue portfolio bybusiness unit
70%Concessions
16%Engineering and Infrastructure
12%Services
2% Industrial
Revenue portfolio bycontinent
50% Europe
47% America
3%Rest of the world
Sacyr Group
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Group comprising four divisions with a distinctly concession-based profile:
80% of EBITDA comes from assets under concession
Key figures
Sacyr Group: we welcome and embrace any challenge to transform society and improve the citizens
quality of life
employees
>43,460 €1,513 MStock market capitalization
Dec 30, 2019
24 €42,965 M€4,169 M
€4,315 M
€680 M
€3,467 M
16.3%
Net financial debt
Key financial data (2019)
Non-recourse debt
(80% of total debt)
EBITDA margin
NFD / EBITDA
Over 30 years of experience have made Sacyr an international leader in
concessions and the construction of infrastructure and services
7th largest concessionaire of transport infrastructure in the world
3rd largest Spanish company for water capacity
2nd largest multinational infrastructure company in Latin America
4th largest developer of greenfield projects
11th largest in the world
Revenue EBITDA
Countries Backlog
6.3x
Group overview
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Key figuresWe are a global company that undertakes projects with cutting-edge technology
Geographical distribution and revenue – 2019
Turnover – 2019
EBITDA – 2019
45% Engineering and
Infrastructure
25%Services
8%Industrial
22%Concessions
46% Concessions
35% Engineering
and Infrastructure
4%Industrial
15%Services
80% of EBITDA comes from concession assets (infrastructures, water, waste and industrial)
57% Europe
6% Rest of world
37% America
€ M 2019 Var %
Turnover 4,169 +10%
EBITDA 680 +25%
EBITDA margin 16.3% +2 pp
EBIT 441 +21%
Net profit from activities 120 +47%
Operating cash flow 510 +24%
Backlog 42,965 +3%
Employees 43,467 +15%
Sacyr Concessions
Pedemontana-Veneta highway,Italy
CONCESSIONS
Sacyr Concessions
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With over 20 years of experience under our belt, we have undertaken 74 projects for a total investment of €27 billion
We are a leading company in the development of greenfield projects.
The main generator of value for the Group
2019 2018
Backlog (€ M) 30,028 +11%
Spain 16% 18%
International 84% 82%
Length Km 3,600 3,229
Hospital beds 2,500 2,500
€ M 2019 Var %
Turnover 1,007 +27%
Concessions 511 +18%
Construction 496 +38%
EBITDA 331 +22%
EBITDA margin 64.7% +1.8 pp
Sacyr Concessions
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We currently manage:
2,500 hospital beds
3,600 km of highway
37 million travelers
per year
2.6 million passengers
per year
273 km of rail track
Key figures
Countries
27Years of remaining average life
Investment managed at Dec 31, 2019
€13.3 billion
International ranking
4thGlobal developer of greenfield projects
7thWorld's largest concessionaire of transport infrastructure
Leaders in developing infrastructure with a highly diversified portfolio.
We offer end-to-end project management, generating added value across all phases: design, construction, financing, operation and maintenance.
Concessions
10 45
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BacklogWe have a diversified portfolio that reports sustainable growth
We currently manage 45 assets in 10 countries in Europe and Latin America
15 Assets under construction
30 Assets in operation
Hospital de Tláhuac (51%)
Pirámides - Tulancingo -
Pachuca (51%)
Vial Sierra Norte (67%)
Valles del Desierto (31%)
Rutas del Desierto (26%)
Valles del Bío-Bío (26%)
Ruta del Algarrobo (26%)
Ruta del Limarí (26%)
Vespucio Oriente (50%)
Los Vilos – La Serena (100%)
Antofagasta Hospital (26%)
El Tepual Airport (32%)
Chacalluta Airport (63%)
Camino de la Fruta (100%)
H. Vilafranca (1%)
H. Braga (1%)
H. Haçor (1%) Brisal
(5%)
N6 (45%)
Pedemontana (49%)
Corredor Vial 21 and 24 (51%)
Ferrocarril Central (40%)
Rutas 2 and 7 (60%)
Toll road
Shadow toll road
Road subject to availability payment system
Road with mitigation mechanisms
Transport hub
Airport
Railway
Hospital
Parking lot
Other
Aunor (51%)
Viastur (70%)
Palma - Manacor (40%)
Turia (56%)
Barbanza (100%)
Eresma (80%)
Arlanzón (55%)
H. Parla (51%)
H. Noreste (51%)
Int. Plaza Elíptica (51%)
Int. Moncloa (51%)
Guadalmedina (52.5%)
Daoiz y Velarde (100%)
Juan Esplandiu (100%)
Plaza del Milenio (100%)
Virgen del Romero (100%)
Plaza Encarnación (100%)
Mercado del Val (100%)
Vial Montes de María (100%)
Desarrollo Vial al Mar (38%)
Rumichaca Pasto (60%)
Pamplona-Cúcuta (100%)
Sacyr Concessions
Sacyr Concessions
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Recent milestones
Four roads in Colombia
Global investment: €2.200 billion
Ferrocarril Central, UruguayInvestment: €886 million
Pedemontana highway - Veneta (Italy)Investment: €2.500 billion
El Tepual Airport (Puerto Montt) and Pachuca, Chile.
Investment: €133 millionAmérico Vespucio Oriente Highway, Chile
Investment: €919 million
Hospital Tláhuac and Pirámides-Tulancingo- Pachuca road, Mexico.Investment: €216 million
Under construction:
In operation:▪ Hospital de Antofagasta, Chile
▪ Commissioning of the first section of the Pedemontana –Veneta highway in Italy
▪ Start-up of Ruta 21 and 24 in Uruguay
▪ Commissioning of three highways in Chile: Vallenar-Caldera, access routes to Iquique and Concepción-Cabrero.
Sacyr Infrastructure and Engineering
Third set of locks at the Panama Canal, Panama
INFRASTRUCTURE AND ENGINEERING
Sacyr Infrastructure and Engineering
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Leader in infrastructure and a proven expert in all manner of civil works projects (highways, metro and railway projects, buildings, airports, ports and hydro facilities) and building work.
Our principles: meeting deadlines, fostering innovation, consolidating our internationalization, high standards of safety and quality and absolute respect for the environment.
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▪ Business focused on infrastructure projects (81% of total business)
▪ Targeting projects with high value added (88% international)
▪ Stable margins
▪ Proven expertise in highly technical and technology-heavy projects
€ M 2019 Var %
Turnover 2,074 21%
EBITDA 253 50%
EBITDA margin 12.2% +2.4 pp
Backlog 7,134 15%
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BacklogBacklog – 2019: €7,134 MBy country
By activity
20.9% Italy
24.3%Chile
12.2% Spain
9.5% Colombia
5.5% Other
6.3% United States
4%Uruguay
3.1% United Kingdom
55.4% Highways
2%Airports
5.3%Non-residentialbuilding
12.5% Railway
1.3% hydro
1.6% urban developments
8.7% Other
3.5%Residentialbuilding
3.4% Paraguay
5%Brazil
9.7% Hospitals
2.2% Peru
3.6%Portugal
Sacyr Infrastructure and Engineering
By geographical zone
56% America
40% Europe
4% Rest of the world
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SpainExpansion of Terminal 4 at Madrid Barajas AirportMadrid-Barcelona-French border high-speed rail: Sants-La Sagrera tunnelBasque Country high-speed railExtension of line 9 of the Madrid Subway SystemLas Pedrizas highwayLas Setas in SevilleTorre Castellana 259 B in Madrid
QatarQEZ-1 urban development at Ras Bufontas
Ras Bufontas Bridge
ColombiaPumarejo BridgeCorridor 5 motorwayMar 1 motorwayHisgaura Bridge
ChileAmerico Vespucio Oriente urban highwayLos Vilos-La Serena highwayChacalluta and Puerto Montt AirportsAntofagasta Hospital
PortugalFoz de Tua damNew hospital in Braga
MexicoStretch of line 3 of theGuadalajara tramwayPirámides-Tulancingo-Pachuca highway Querétaro HospitalHospital Tlahuac in Mexico City
PanamaExpansion of the Panama Canal:Third set of locks
ItalyPedemontana-Veneta highwayPalermo tramway
United KingdomPhase two of Ulster UniversityEdinburgh TramwayA6 road (Dungiven - Durmahoe)Dualling (Northern Ireland)
United StatesSR23 road in Jacksonville (Florida)US 59 road in Diboll and IH35 (Texas)
PeruVial Sierra NortePan American Games
Milestones
Sacyr Infrastructure and Engineering
Sacyr Services
Sohar desalination plant, Oman
SERVICES
Sacyr Services
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We perform a wide range of activities:
Water: Integral water cycle, water treatment plants
Environment: municipal services, waste treatment,
environmental works
Facilities: facility services, social services
Infrastructure maintenance, mining
Cafestore: catering services
€ M 2019 % Var
Turnover 1,137 5.7%
Environment 474 8%
Multi-services 532 5%
Water 126 2%
EBITDA 109 15%
EBITDA margin 9.6% +0.8pp
Backlog 6,408 12%
• We provide an end-to-end service to our clients, covering all their needs and ensuring sustained profitability.
• The 3rd largest Spanish company and 11th in the world in terms of installed capacity for desalinated water, according IDA.
• We provide the latest and most advanced technologies and develop innovation projects that improve the efficiency, sustainability and safety of our employees and the services we provide
Sacyr Services
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Sacyr Environment▪ Street cleaning and waste collection in Spain and Colombia
▪ Maintenance of 1,450 hectares of green space with +700,000 trees
▪ Mobility: +100,000 parking points and stands
▪ +580 towns and cities with +5 million beneficiaries
Waste treatment:
▪ 48 waste treatment plants built
▪ 3 million tons of waste managed each year
▪ State-of-the-art technology for waste treatment in Spain, Australia and the United States
Sacyr Services
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Sacyr Water
Water treatment, purification, desalination, purification and reuse; design and construction (Sacyr Industrial-Sadyt), operation and maintenance, services and project finance (Sacyr Water)
+100 reverse osmosis plants
Major BOT projects in Algeria
Construction of the world's largest EDR plant
Construction of three of the world's largest UF plants (Binningup, Australia; Sohar, Oman; and Ashdod, Israel)
Integral management of the water cycle: 10 million inhabitants supplied in 6 different countries
3rd largest Spanish company and 11th in the world in terms of installed capacity for desalinated water (2008-2019)*: production exceeding 2.2 million m3/day, enough to supply over 14.6 million people per day.*IDA Water Security Handbook 2019-20
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Sacyr Maintenance
• +14,000 km of roads maintained: 4th largest operator in Spain by revenue from infrastructure maintenance.
• In Chile, it is the country's largest maintenance company, with +6,000 km of highway.
• We also operate in Italy, Peru, Mexico and Uruguay.
Sacyr ServicesMultiservices
Cafestore• 2nd largest catering operator on highways and freeways in Spain. • We provide catering for hospitals, public bodies and companies bearing with Deliquo brand• We serve upwards of 5 million customers a year at our 46 points of sale
Valoriza Minería▪ Mining projects in Spain, mostly in the form of copper, gold, tin, lithium
and tungsten deposits
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Sacyr Facilities
• Top 5 company in Spain for facility services: facility management, cleaning, comprehensive maintenance of facilities, energy services and auxiliary services. Also operates in Chile and Mexico.
▪ One of the largest operators of integrated facilities contracts in the hospitalsector.
▪ Our Special Employment Center employs more than 400 people (90% with some disability)
Sacyr ServicesMultiservices
Sacyr Social
▪ Top 3 in Spain for social services, employing over 10,000 workers
▪ Home support for more than 35,000 users
▪ We manage 35 residential homes and day-care centers (+1,500 users)
Sacyr Industrial
La Pampilla Refinery,HDS Units, Peru
Sacyr Industrial
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Experts in the engineering and construction of industrial facilities.
We offer a wide range of highly innovative end-to-endsolutions. With over 1,600 professionals, all our projects andservices are widely known for their unrivaled environmentalprotection, excellence, security and social responsibility.
Water T&D and Renewables Oil & Gas Energy, Industry & Environment
€ M 2019
Turnover 352
EBITDA 23
EBITDA margin 6.6%
Backlog 679
Sacyr Industrial
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Water
T&D and Renewables
▪ Design, construction and O&M of waste treatment plants across all technologies, since 1985
▪ Expert in-house engineering
▪ Water treatment, purification, desalination and industrial water plants
▪ Development of public-private partnerships (PPPs, Sacyr Services)
▪ BOOT projects and project financing
▪ Turnkey EPC and BOP projects for wind farms and large photovoltaic plants
▪ Operation and maintenance of renewable energy
▪ Especialists on geothermal energy and biomass generation
▪ EPC of medium- and high-voltage grids
▪ BOOT projects and project financing
TOP 11 in the world in seawater desalination
Over 3hm3 /day of treatedwater
Upwards of 300 plants designed and built
Over 250 expert professionals
Maintenance on 8,000 km of power lines
Services to more than 900,000 people in LATAM
Engineering“In-house” insolar, geothermal and biomass
Power transmission lines and substations up to 400kV
Sacyr Industrial
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Oil & Gas
Energy, Industry & Environment
▪ Engineering and EPC projects in refining and the petrochemical industry
▪ Wellhead, gas pipelines, compressor stations and storage depots
▪ Storage of LNG, liquefaction and regasification plants, including offshore facilities
▪ End-to-end maintenance of refineries and storage depots: Sacyr Nervión
▪ International engineering in house
▪ BOOT projects and project financing
▪ Turnkey EPC projects at industrial facilities, including Energy, Mining and Environment
▪ Conventional and renewable power facilities employing all technologies
▪ Waste treatment plants and energy valorization facilities (WTE)
▪ EPC projects for cement and lime plants
▪ Operation and maintenance of power plants and industrial facilities
Engineering capacityof 800,000 hours/year
+7 million man hours with no accidents in 2019
3 million hours of maintenance at refineries
ISO 45001: 2018New safety managementcertified
+100 cogeneration projects
Over 1 million operating hours
Own engineering with over 450 professionals
Energy for +2 million homes
Sustainability
Montes de María highway, Colombia
Sustainability
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Governance and transparency
Committed to a sustainable future
▪ Creation of the Sustainability and Corporate Governance Committee• Supervision of ESG aspects
▪ Creation of the Sustainability Committee• Strategy aligned with the SDGs (Sustainable
Development Goals)• Integral Risk Management system
Certification of the CSR Management System – SGE21 Standard
Governance and transparency: beyond mere compliance
Board of Directors(ensures the Company's sustainable development
and approves corporate policies)
Sustainability and Corporate Governance Committee(supervises and recommends
corporate policies)
Sustainability Committee
(takes action relating to sustainability)
Corporate Governance: Management SystemGlobal Company – 2020
Sustainability
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Global Company – 2020
People• Equality Plan• Diversity and Inclusion Plan• +1,020 disabled workers• 43 ISO 45001 (Health and
Safety) certificates
Society• €660 M in taxes paid in 2019
(+12.8%)• +40 social welfare projects
worldwide• +€350,000 in direct investment in
the community and +600 volunteers
• +100,000 beneficiaries
Environment• Agreement for the Circular
Economy• Committed to the fight against
climate change: reducing emissions for the fourth straight year
• Protecting biodiversity• +900 suppliers assessed
Sustainability
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Safety
We perform R&D+i projects and remain at the cutting edge of technology to ensure the best possible health and safety of our workers and collaborators.
We work to improve the occupational health and well-being of our workers and collaborators. We therefore have a Health and Safety Management System in place, which has been developed under international standard ISO 45001 and certified by an external expert of international renown. The system effectively ensures the sound management of occupational risks and the adoption of safety and risk prevention measures, as well as training for our workers and programs to improve the health of our employees.
Sustainability
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Environment
We work on five main fronts: integrated management system (quality, environment and energy), climate change, circular economy and biodiversity, all fully aligned with the Sustainable
Development Goals (SDG’s)
We have an integrated management system for which we currently have 153 assurances in the form of internationally recognized standards (ISO, UNE, EMAS, etc.)
We undertake prominent international projects subject to sustainable construction requirements, including the likes of LEED, BREEAM and VERDE.
LEED 63%
BREEAM25%
VERDE 3%
CES HOSPITALES 3%
GSAS DESIGN & BUILD 3% CEEQUAL 3%
Construction works with sustainable certificactions
Quality 40%
Environment36%
Energy 10%
EMAS 2%
Others 12%
Certifications
We are signatories to the Agreement for the Circular Economy, which seeks to ensure that the products, materials and resources we use remain within the economic cycle for as long as possible, thus reducing the amount of waste we generate.
We have taken a further step in working towards the Environmental Product Declaration (EPD).
Sustainability
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EnvironmentOur commitment to fighting climate change is reflected through the following actions:o Policy against climate change.o Management of risks and opportunities following the recommendations of the Financial Stability
Board (FSB), supported by the G-20.o We disclose information on its carbon footprint to the competent
government departments, obtaining the CALCULATE AND REDUCE seal.o Disclosure of climate change performance through the CDP.o Fostering initiatives to support the fight against climate change.
57.09% of the material consumed in 2019 was recycled.
In 2019, we effectively reduced our drinking water consumption by 766,397 m3 by focusing on recycled water.
Over the last three years, we have cut our GHG emissions by 7.34%.
Sustainability
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Environment
We take part in sustainability forums and working groups, working together to design strategies and methods for tackling environmental concerns.
We comply with national and international initiatives that champion sustainable growth through environmental protection, focusing chiefly on climate change and the circular economy.
We invested a total of €26.4 M in helping to protect and conserve the environment in 2019, 52.75% more than was the case two years ago.
The management of natural capital is a key tool in protecting biodiversity across all our businesses. We implement custom action plans for each center, specially designed to protect native and protected species. As a further measure, we launch training and awareness campaigns for employees, external partners and local communities.
In 2019, we rolled out measures to protect 1,081 species.
Sustainability
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Corporate social responsibilityWe view CSR as a responsible management model that
must be fully aligned with the UN Sustainable Development Goals and human rights; which transcend all our management decisions.
Our Strategic CSR Plan identifies the SDGs with the areas of action of the Sacyr Foundation.
• People: SDGs 1, 2, 3, 4 and 5 with food collection campaigns, donating blood, refurbishing schools, and actions to promote community living with vulnerable groups of society, among others.
• The environment: SDGs 6,12, 13,14 and 15, with planting and reforestation initiatives, beach and seabed clean-ups and projects to improve access to drinking water, among others.
• Prosperity: SDGs 7, 8, 9, 10 and 11, with training initiatives for socially excluded segments of society, along with the Sacyr Innovation Awards.
We carry out these partnerships through the Sacyr Foundation and the Corporate Volunteering Plan,
which undertook more than 20 initiatives in 2019, with the support of over 600 volunteers.
We have been working alongside the Sacyr Foundationsince 2010 in promoting the Sacyr Innovation Awards, in which we ask the creators and innovators to come up with co-creation projects and brainstorm new ideas to overcome business challenges.
Sustainability
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Innovation
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We are fully committed to innovation on the path to finding solutions that improve our processes and make us more efficient, as we incorporate new technologies and
business models to improve people's quality of life.
We transform because we believe in a better planet. A world made by all of us, for all of us. Without frontiers.
Digital twins of industrial plants
#sustainability
#industria4.0
#machinelearning
Aurora Project
Sacyr prediction tool
Virtual O&M
Ecologically friendly silent rubber pavements
Click to clip13
€7.7 M
47 projects under development
in R&D+i projects
certified Group companies (UNE 166002)
projects launched in 2019
Digitization of the road inspection process
Predicting pavement distress through Machine Learning
Additive for bituminous mixes from ground used tires
Generation of power for remote facilities
#digitization#circulareconomy
Committed to sports
Committed to sport
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We are committed to sports, through which we champion shared values,
such as hard work, improvement, high performance and team work, alongside:
Sacyr Sports Club: 48 different activities in 15 countries, with over 900 employees
Sponsorship of inspiring sportsmen and women, whom we support and help with their career in sports:
o Spanish Handball Federation (female and male)
o Triathletes Mario Mola (three time world champion), Carolina Routier
and Dani Molina (world champion paralympic triathlete)
We also give our name to the Spanish male handball league, which is now known as
Liga Sacyr Asobal.
Disclaimer
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Sacyr, S.A. and its company group (the "Sacyr Group") is the exclusive owner of this document. This document may not be copied, distributed, divulged or published without the prior express consent of the Sacyr Group.
This document does not constitute an offer or invitation to purchase or subscribe for shares under current legislation on the securities market.
This document contains forward-looking statements, which may include statements as to our present intention, belief or expectations about the Sacyr Group and its management, including statements regarding trends that are affected by general economic conditions, financial ratios, the results of operations, businesses, strategies, foreign markets, cost savings, investments or dividends. These statements do not constitute assurances regarding future performance, prices, margins, exchange rates or other events, and are subject to material risks, uncertainties, changes and other factors that are beyond the control of the Sacyr Group or that are difficult to predict.
The Sacyr Group undertakes no obligation to update publicly or revise the forward-looking statements, even where changes in circumstances suggest changes to projections, conditions, or future events, including, inter alia, changes in the Company's business or in its business development strategy. The contents of this disclaimer must be borne in mind by any person or entity handling this document who may be in charge of decision-making and investment. Any such person is invited to consult the documents and public information reported or filed by the Sacyr Group with the major securities markets’ supervisory bodies, in particular, Spain's Comisión Nacional del Mercado de Valores.
The information contained in this document has not been reviewed by the auditors of the Sacyr Group.
Therefore, the information is not final and may be modified in future.
sacyr.com
Pumarejo Bridge in Barranquilla, Colombia