It will create a new company, Voreantis, to group all its concessions together with a new partner


Sacyr will invest around 1,000 million euros in the next four years in the development of concession projects, with the aim of tripling the size of the company, until it has an asset valuation of up to 10,000 million euros in 2033, compared to the current 3.6 billion.

This was announced by the president and CEO of the company, Manuel Manrique, during the celebration of its investor day this Thursday, in which he defended that these figures will make Sacyr “the world leader in the development of greenfield projects.”

To achieve this objective, Sacyr will bring in a partner with a minority stake in a new company that will group concession assets in operation and will call Voreantis, to enhance this type of asset and boost its growth.

All this will contribute to increasing the company’s fundamentals, until achieving a gross operating result (Ebitda) of 1,610 million euros in 2027, 6% more than in 2023, and a net profit of 265 million euros, 73% higher than in 2023.

Manrique has highlighted the development of the previous Strategic Plan 2021-2025, in which the focus was already placed on turning Sacyr into a concessions company, as well as on reducing corporate debt, becoming the third largest infrastructure developer. transport in the world, according to the specialized publication of Public Work Financing, with a managed investment of 22,000 million euros.

The manager has estimated the savings that will be generated between 2024 and 2027 at 40 million euros with the company’s new organizational structure, distributed across three lines of activity in the sector: Concessions, Engineering and Infrastructure and Water.

In the first, Voreantis will continue to boost these assets to 5.1 billion euros in 2027, when 95% of the company’s Ebitda will come from concessions and a similar percentage from international activity, mainly Italy, the United States, Chile, Australia, Canada and Colombia.

“The search for new investment opportunities in the concessional market will focus primarily on English-speaking countries. The focus will be on larger, complex greenfield projects, with income linked to inflation and an emphasis on sustainability. The company will also explore new assets linked to traffic demand,” he explained.

Currently, Sacyr Concesiones is analyzing projects worth 75 billion in 12 countries, of which it expects to be awarded around 10 billion in the coming years.


Regarding the Engineering and Infrastructure area, Sacyr will continue to prioritize profitability over volume, as it has done in recent years, with the aim of achieving an Ebitda margin of 5% in 2027, compared to 4.6% in 2023. .

In the first quarter of 2024, 62% of the portfolio of this business corresponded to work carried out for the group itself, that is, for the construction of its concession assets, and the objective for 2027 is to reach 70%. The construction company is currently analyzing projects in this business worth 7.1 billion euros in ten countries.


For its part, Sacyr Agua’s activity will increase revenues by 75% and Ebitda by 83% in the next four years compared to 2023, thanks to the new contracts awarded.

Currently, it has 16 assets in its five main markets and produces 2.4 million cubic meters of drinking water per day. Sacyr Agua analyzes projects worth 62 billion euros in 15 countries.


Regarding shareholder remuneration, the new strategic plan plans to allocate at least 225 million euros to dividends over the next four years. Since 2020, the dividend has grown 13%.

The plan has also set the objective of achieving a credit rating from the rating agencies sufficient to be at ‘investment grade’.