Unlike other concessionaires, Sacyr has posted a good set of results with revenues up by 3.5% and EBITDA up by 10% despite being affected by COVID-19. It has also reiterated that its position is well hedged in Repsol and Repsol’s plummeting share prices will have no impact on Sacyr’s cash flow. The only red flag we would like to raise is its increasing gearing ratio even if management is reducing the recourse debt.
04 Aug 2020
H1 20: benefited from insignificant traffic dependence
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
H1 20: benefited from insignificant traffic dependence
Sacyr SA (VHM:STU) | 0 0 2.6% | Mkt Cap: 1,382m
- Published:
04 Aug 2020 -
Author:
Sejal Varshney -
Pages:
3
Unlike other concessionaires, Sacyr has posted a good set of results with revenues up by 3.5% and EBITDA up by 10% despite being affected by COVID-19. It has also reiterated that its position is well hedged in Repsol and Repsol’s plummeting share prices will have no impact on Sacyr’s cash flow. The only red flag we would like to raise is its increasing gearing ratio even if management is reducing the recourse debt.