DOMINION has presented its results for the first half of the year with an organic growth of 7% in sales measured against the same period of 2022. Specifically, it has registered a turnover of €571m and a net profit of €23.8m.
The growth of the rest of the indicators shows its operating leverage, with an EBITDA that exceeds €71m and an EBIT (net operating income) of €40M, 26% and 21% higher than in 2022 respectively. Comparable net profit also grows despite the significant increase in financial expenses.
Good results that, for the CEO of the company, Mikel Barandiaran, show "the recurrence of our income statement and the strength of our business despite the great impact of external factors such as the increase in financing costs or inflation".
Precisely, this recurrence is one of the main pillars of the new Strategic Plan of the company -which the company presented last May-, together with sustainability and the simplification of its activity. In fact, for the first time, recurring businesses, including their infrastructures, represent 60% of the business.
This new plan has allowed us to emphasize the essence of who we are and what we want to be; a facilitator of the three transitions that the world is experiencing (digital, industrial and sustainable transitions) through our services and projects.
Mikel Barandiaran
| CEO of DOMINION
Growth of its two business segments
The Sustainable Services segment’s contribution margin grows 15.8% despite the inflationary pressures affecting operating costs. This segment is positioned in areas in full growth such as the improvement of sustainability and the digitalization of business processes. Which leads to a continued growth of the segment and new contracts, such as the recent entry into Uruguay, with its first industrial project in the country.
The 360 Projects segment reached a contribution margin 15.1% higher compared to the same period in 2022, exceeding the objectives set by the company, and a project portfolio close to execution of €586M. In the field of renewable energy, the company has several photovoltaic projects under construction in the Dominican Republic and Spain and, during the last quarter of the year, plans to start the execution of new projects in Italy.
Regarding its stakes in infrastructures, last February the company announced its agreement with Corporación Multi Inversiones (CMI) in Latin America and claims to be in the process of negotiations to incorporate a partner in Europe.
Also recently, the company completed its fourth share buyback program for approximately 1% of its capital stock. A program with which they seek to increase the shareholder remuneration policy, by increasing profit per share, to which is added the distribution of the dividend on July 5th for a total of €14.7M.
