DOMINION closed the year with a turnover of €1,115M, an organic growth of 10%, and an EBIT (operating profit) of €75 M, 16% more than in the previous year..
Figures that exceed the company's strategic objectives and that, for its president, Antón Pradera, "are proof of DOMINION's resilience in such a complex environment and bring us closer to the compliance with our Strategic Plan that ends this year" .
For Pradera, the key to these results is the company's management model, which has enabled them to face “inflationary pressures” and continue to expand its operating margins, as well as the geographical and sectoral diversification of the business. Also, they claim to be positioned in growing sectors such as sustainability and the energy transition..
During the meeting, the dividend payout was also approved, which this year will amount to €15 million, a third of its net profit and 13% more than the previous year. During 2022, the company also completed its 2nd buy-back program for a value of €24 M and redeemed the shares acquired, equivalent to 5% of its capital.
New Strategic Plan 2023-2026
Throughout the meeting, the company also announced the launch of a new Strategic Plan until 2026. "We believe that we can conclude the 2019-2023 Plan," said Antón Pradera.
Among the reasons, Pradera has also highlighted the uncertainty and new trends that are transforming companies such as the energy, industrial and digital transition, as well as the need to better explain their activity to the market. “We currently believe that the share price does not reflect the real value of our business. For this reason, we are going to accompany the new plan with a simplified equity story that allows us to simplify how we report our activity and emphasize the essence of what we are: a company that provides services and projects”.
DOMINION will report its results in two main segments: 360 Projects, which include the development of renewables and other social infrastructures such as hospitals or power and telecommunications networks, and Sustainable Services, which encompass all its B2B and B2B2C activity, both with companies and with customers. In addition, after announcing strategic operations on its renewable energy area, which will allow the company to increase the recurrence of income and margins with the energy generation, DOMINION will also report a new segment with the results of its participation in these infrastructures.
Regarding sustainability, DOMINION positions itself as a "facilitator of the changes" that companies need to carry out in their transition towards more environment friendly business models. Currently, it has already doubled its eligibility with 32% of its activity in accordance with the European taxonomy and aspires for practically all of its activity to be sustainable as the 6 objectives are developed. "At DOMINION we understand sustainability as long-term efficiency, so this does not mean a radical change, but rather a natural evolution of what we have been doing" concludes Pradera.
