The concession division was at the heart of this CMD. Note that, in our NAV, excluding the Repsol stake, which is hedged by a complex collar, the concession division represents some 65% of our gross assets. Key takeaways are: Starting in 2021, Sacyr Concesiones’ equity investments are expected to be fully funded with the portfolio’s annual cash flows. Current portfolio valuation of concession assets is €1.8bn and should reach its maximum value of €2.7bn in 12 years.
06 Jun 2019
This successful CMD backs our investment thesis
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This successful CMD backs our investment thesis
Sacyr SA (VHM:STU) | 0 0 2.6% | Mkt Cap: 1,382m
- Published:
06 Jun 2019 -
Author:
Felix Brunotte -
Pages:
5
The concession division was at the heart of this CMD. Note that, in our NAV, excluding the Repsol stake, which is hedged by a complex collar, the concession division represents some 65% of our gross assets. Key takeaways are: Starting in 2021, Sacyr Concesiones’ equity investments are expected to be fully funded with the portfolio’s annual cash flows. Current portfolio valuation of concession assets is €1.8bn and should reach its maximum value of €2.7bn in 12 years.