The Spanish Sacyr rebounds with a profit of 118 million in 2022

MADRID, Feb 24 (Reuters) – Spanish engineering firm Sacyr on Friday reported net profit of 111 million euros ($117.5 million) in 2022, recouping a loss from a year earlier on the back of rising returns from its motorway concession activities, whose activities are linked to inflation.

“Behind the strong 2022 results is Sacyr’s ability to bring new concession assets into service,” the company said.

In 2021, it recorded losses of 189 million euros.

Last year, Sacyr completed a highway and an airport in Chile, other highways in Colombia and a highway in Italy.

The company plans to sell – in whole or in part – its cleaning services, as well as up to 49% of its water division, as it seeks to focus on expanding its concession assets. infrastructure, which contributed 88% of its gross operating income (EBITDA) for 2022.

Sacyr said it plans to sell parts of some of its businesses this year, mainly to reduce its debt, which stood at 546 million euros at the end of 2022.

(1 dollar = 0.9446 euros)

(Reporting by Corina Pons; Editing by David Latona and Jason Neely;