A plan that comes before finishing 2023 “due to the high visibility on the compliance with the current plan and the transformation that our business has undergone since the previous one was formulated" says its CEO, Mikel Barandiaran. The company expects to reach an EBITDA of around €150M and an Operating Cash generation of over €70M this year, and has announced an annual growth target of 7% and 9% respectively for both indicators until 2026.
Also, the "uncertainty and new market trends -marked by the energy, industrial and digital transition- and the need to simplify how we report our activity so that the stock market reflects the real value of our company" has led them to present this new plan together with a simplification of their equity story. “We want to emphasize the essence of what we are: a company that provides services and sustainable projects”.
The 360 approach that they apply to their projects also includes finding financing solutions to protect their industrial margins and to stablish a long-term relationship with their clients. The company has taken minority stakes in renewable and social impact infrastructures: "We have already done it on other occasions: relying on bilateral organizations or, in the case of developing hospitals, acquiring a concessional stake that has allowed us to have greater control over the projects and to be able to ensure the provision of operation and maintenance services in the long term”.
As for sustainability, it has been very present in the company's new strategic plan. DOMINION has already doubled its eligibility with 32% of its activity in line with the European taxonomy and aims for almost all of its activity to be sustainable as the 6 taxonomic objectives are developed. “At DOMINION we understand sustainability as long-term efficiency, so incorporating it does not mean a radical change, but rather a natural evolution of what we have been doing” assured Barandiaran.
Revenues of €281m in the first quarter of 2023
On April 27th DOMINION announced the results for the first quarters 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, DOMINION also reported a new segment with the results of its participation in these infrastructures.
DOMINION achieved a 7% growth in sales, with a turnover of €281 million, and a net profit 9% higher compared to the same period in 2022. They also reached an EBITDA of €34 million, 25% higher, and an EBIT (operating profit) of €19 million.
