Sacyr published a good set of 9m results with revenues up by 5.6% and EBITDA by 7.2%. However, net profit was down due to the €85m in provisions for the Panama decision. It expects about half of the related cash out in FY21 and the rest over the next 3-4 years. Nevertheless, Sacyr and GUPC will continue pursuing their claims against ACP and Panama Estate in various international instances (ICC, UNCITRAL).
06 Nov 2020
9m20: good results but profit down due to Panama decision
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9m20: good results but profit down due to Panama decision
Sacyr published a good set of 9m results with revenues up by 5.6% and EBITDA by 7.2%. However, net profit was down due to the €85m in provisions for the Panama decision. It expects about half of the related cash out in FY21 and the rest over the next 3-4 years. Nevertheless, Sacyr and GUPC will continue pursuing their claims against ACP and Panama Estate in various international instances (ICC, UNCITRAL).