Its net profit is €7.3 million as a result of the increase of financial expenses, derived from payment commitments that fell due in this first month of the year. Among them, the disbursement corresponding to the purchase of Incus's minority stake in its renewables area or the payment to acquire practically the entire DOMINION-Bygging company, with which they operate in India.
The growth in business profitability stands out, with an EBITDA of €35M, 3% higher, which reaches a percentage of sales of 12.3%. It is the second quarter that the company surpasses the 12-percentage point barrier, improving its operational efficiency.
With the presentation of the new Strategic Plan last year, the company announced its objective of focusing its business on activities with higher profitability margins. According to its CEO, Mikel Barandiaran, “the results at the end of 2023 and this first quarter of 2024 show that we are advancing in our strategy of simplification and search for greater recurrence, betting on activities with greater added value that allow us to position ourselves as a benchmark in 360 sustainability. This has led us to reach, even exceed, the target margins that we set for our services and projects.”
Contribution margins of its two segments
Sustainable Services reached a turnover of €193.6 M this quarter despite the business restructuring that has occurred in this segment. Its contribution margin grows to 12% thanks to the good performance of its Environmental Services area and the great performance of the world of telecommunications with contracts in both Latin America and Europe.
The 360º Projects segment exceeds a turnover of €86M in this period and registers a contribution margin of 18.7%. While waiting to begin the development of new parks in Europe, the company is about to begin the procedures for interconnecting the La Victoria and the Washington Capital 2 and 3 solar parks, in the Dominican Republic.
This quarter the company has also won new contracts in the area of industrial infrastructures and has successfully executed the design and construction of the Paine II data center in Chile in record time.
