Técnicas Reunidas paints many bright horizons after the crisis caused by the pandemic, which forced the company to seek help from the strategic company rescue fund managed by SEPI. This Thursday, the infrastructure builder presented its roadmap for the next five years during the ELcapital market day taking place in Abu Dhabi (United Arab Emirates). A new strategic model with which the company plans to increase its operating profit by two and a half times, which will increase it to approximately 380 million euros in 2028, compared with 157 million achieved last year, according to assurances from investors and analysts.
With these efforts, the company hopes to reach 500 million in its own resources next year and has set a goal of distributing dividends to its shareholders again in 2026, with an estimated payout (profit distributed to dividends) of 30%. . It will be able to do this once it has paid out €340 million in state aid, which it hopes to do in the same year, keeping to the schedule set by SEPI in receiving the lifeboat in early 2022.
The group’s new strategy is called SALTA and will create a new internal organization model based on five business areas: engineering and services, energy, North America, Europe and the rest of the world, and the Middle East and Asia-Pacific. The company emphasized the role of the new services division, which aims to generate 30% of the results generated by operations.
According to Técnicas Reunidas, these five business units will provide “greater intimacy and relationships with clients, stronger risk sharing and control, and better talent retention.” The company expects to complete implementation of this new organizational model in the second half of 2024, so it will be fully operational in 2025.
Once the plan is implemented, Técnicas Reunidas expects sales related to its engineering and service activities to account for 10% of total turnover in 2028, which it believes will allow it to significantly improve its profitability by increasing its return on sales to 8 %. , which would mean doubling the 4% margin level with which it closed 2023. Following the presentation of the new strategic route, the company’s shares soared almost 17% at midday.
“The portfolio, balance sheet and income statement are proof of the normalization of our activities after the effects of Covid and the war in Ukraine. Now is the time to take a decisive step forward and enter a phase of growth and transformation,” Técnicas Reunidas executive president Juan Lladó told investors. The company made a net profit in the first quarter of 20 million euros.
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