The Diplomat
Técnicas Reunidas posted a net profit of 41.2 million euros in the first nine months of this year, compared to the ‘red numbers’ of 47.2 million euros in the same period of 2022, the company informed the National Securities Market Commission (CNMV).
The firm detailed that the recorded earnings include an extraordinary item of 15.9 million euros with no impact on cash.
Total sales reached 3,246 million euros between January and September, an increase of 15%, which shows the “strong” recovery of operations, according to the group.
The company has returned to quarterly figures above 1,000 million euros and explained that it expects this level of sales to be maintained in the coming quarters.
Net operating profit (Ebit), meanwhile, was 119.8 million euros during the first nine months of the year, compared to the negative figure recorded in the same period of 2022, of 29.8 million euros.
Técnicas Reunidas’ net cash position at the end of the period stood at 234 million euros, compared to 104 million euros at the end of September 2022, which does not include advances from new awards in the third quarter of this year.
The portfolio amounted to 10,470 million euros at the end of September, after integrating new awards worth 4,064 million euros.
Técnicas Reunidas has updated its targets for 2023 and expects awards to exceed 6,000 million euros, sales to exceed 4,000 million euros, and the EBIT margin for the second half of 2023 to reach a level of 4% or more.
The executive chairman of Técnicas Reunidas, Juan Lladó, stressed that the company “continues, quarter after quarter, to consolidate important achievements, as anticipated since the beginning of the year”, and highlighted as “significant” the commercial efforts, which have materialised in more than 4,000 million euros in new contracts, which means an accumulated level of more than 6,000 million euros so far this year.
He also recalled that the company has just started the “largest decarbonisation project signed to date in Europe” in the steel industry, which places Técnicas Reunidas as a “world-class engineering company” in the energy transition sector.
“I am pleased to confirm that we have positioned Técnicas Reunidas as a world leader in this investment super-cycle,” Lladó said.
