The transaction allows DOMINION to divest activities, such as multi-technical maintenance and assembly line automation, which have lower margins than the average of its activities and are poorly aligned with its sustainability strategy. This business, geographically based in Spain, represents a turnover of approximately 100 million euros and a recurring EBITDA of 4.8 million euros, and has a workforce of 1,500 employees.

The transaction amounts to 27.5 million euros and is expected to close before the end of the 2024 financial year, pending authorization by the National Markets and Competition Commission (CNMC).

“This divestment is a further step in our strategic transformation, strengthening our positioning as a company focused on sustainable high value-added projects and services, and demonstrates our commitment to fulfilling the 2023-26 plan”, says Mikel Barandiaran, CEO of the company.

Value creation strategy

This transaction is part of DOMINION's strategy to simplify its activity and, through it, the company strengthens its positioning in higher added value businesses with strong growth levers, such as decarbonization, energy efficiency, waste management and circular economy services, which contribute to the sustainability of its industrial customers.

The divestment also furthers DOMINION's path towards a reduction of its net financial debt position, in line with its strategic plan.