Sacyr

What Sacyr does

Sacyr, S.A. is a Spanish multinational infrastructure and concessions company founded in 1986 and listed on the IBEX 35 (ticker: SCYR / SYRVF), headquartered in Madrid. The company designs, finances, builds, and operates long-term (20-30+ year) infrastructure concessions across three core business units: Sacyr Concesiones (transport, hospital, and airport P3 concessions), Sacyr Ingeniería e Infraestructuras (engineering and construction services), and Sacyr Agua (desalination, water treatment, and reuse). Sacyr serves government counterparties exclusively — national, regional, and municipal authorities across 15+ countries in Europe, Latin America, North America, Oceania, and the Middle East — through public-private partnership procurement and direct negotiations.

FY2025 revenue reached €4,660 million (+12% YoY), with operating cash flow of €1,359 million exceeding EBITDA (€1,358 million) for the first time, marking a structural shift toward a self-sustaining concessions model. The €10.6 billion construction backlog and €1,629 million in new concession awards in 2025 reflect active project origination. Underlying technology includes AENOR-certified BIM information management, digital twins combined with sensors, drones, and inspection robots for predictive asset management, and over 700 AI initiatives with 50+ in production. AI analyzes documentation and optimizes infrastructure operations across water, concessions, and construction segments.

Sacyr's revenue model combines long-duration recurring concession cash flows (toll collection, availability payments, service fees over 20-30+ years) with project-based engineering and construction revenue. Capital recycling — divestment of mature brownfield assets (most recently three Colombian toll roads to Actis for US$1.6 billion in June 2025) — funds new greenfield concessions. Recourse net debt has fallen 93% since 2019 to €59 million, securing investment-grade rating from DBRS Morningstar. The strategic plan targets doubling concession asset valuation to €10 billion by 2033, supported by recent market entries in the US (I-10 Calcasieu Bridge P3) and Canada (Ontario Science Centre P3).

Name

Sacyr

Legal name

Sacyr, S.A.

Website

https://sacyr.com

Company type

Public

Founded year

1986

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Sacyr is a Spanish IBEX 35-listed multinational infrastructure and concessions company that designs, finances, builds, and operates long-term (20-30+ year) P3 projects across transport, hospitals, and water sectors, serving government clients in more than 15 countries.

Ownership category

akta.pro rank

Product category

Infrastructure Concessions and Public-Private Partnerships

NAICS

Utility System Construction (2371), Waste Management and Remediation Services (562)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD)

akta.pro secondary industry

Source-Separated Recycling (Paper/Plastics/Metals/Glass) Processing (IMAIAFAE)

Keywords

• Infrastructure concessions
• Public-private partnerships
• Toll road operations
• Water treatment services
• Engineering and construction

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices14 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Infrastructure Concessions: Sacyr designs, finances, builds, and operates long-term infrastructure concessions (20-30+ years) across transport (toll roads), social infrastructure (hospitals), and water sectors. Revenues are generated through toll collection, availability payments, and service fees under public-private partnership arrangements. The company is transitioning from a construction-focused model to an operational concessions business, with operating cash flow (€1.359 billion in 2025) now exceeding EBITDA (€1.358 billion), marking a key milestone.
2. Construction and Engineering Services: Engineering and Infrastructure division generated €2,971 million in revenue in 2025 (up 8%), delivering construction services for highways, hospitals, airports, railways, and other infrastructure projects on a project-by-project basis.
3. Water Services: Sacyr's Water segment grew 25% to €307 million in 2025, encompassing desalination, water treatment, and water reuse operations and maintenance services.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Sacyr is a multinational infrastructure company that designs, finances, builds, and operates long-term infrastructure concessions (20-30+ years) across transport (toll roads), social infrastructure (hospitals), and water sectors. The company delivers end-to-end public-private partnership (P3) solutions including project identification, financing structuring, construction management, and long-term asset operation and maintenance, with operations in more than 15 countries globally.

Product overview

Sacyr operates as a diversified infrastructure group with three core business units: Concesiones (infrastructure concessions and P3 projects), Ingeniería e Infraestructuras (engineering and construction), and Agua (water management). The company designs, finances, builds, and operates long-term infrastructure projects (20-30+ years) across transport (toll roads), social infrastructure (hospitals), and water/environmental sectors. Operations span Europe (Spain, Italy) and Latin America (Chile, Colombia, Peru, Paraguay), with recent expansion into North America (USA, Canada). Key products include toll road concessions (AVO I in Chile, I-10 in USA, Ruta PY02 in Paraguay), hospital P3s (12 de Octubre in Madrid, Novara Hospital in Italy, Ontario Science Centre in Canada), water infrastructure (desalination plants, wastewater treatment), and airport concessions. The company is transitioning from a construction-focused model to an operational concessions business, with AI being integrated across all three business areas.

Differentiator

Problem solved

Functional benefit

Brands

• Sacyr iChallenges: Open innovation program launched by Sacyr to engage startups, entrepreneurs, and innovation centers with challenges posed by the company
• Sacyr Green
• Sacyr Proyecta

Products and services

• Infrastructure Concessions
• Construction and Engineering Services
• Water Services
• Autopista Américo Vespucio Oriente I (AVO I)
• Hospital 12 de Octubre (Madrid)
• I-10 Calcasieu River Bridge (Louisiana)
• Desaladora de Sohar (Oman)
• Ruta PY02 (Paraguay)
• Buenaventura-Loboguerrero-Buga Highway (Colombia)
• Turin Health Complex P3 (Italy)
• Antofagasta and Atacama Airports P3 (Chile)
• Ontario Science Centre Museum P3 (Canada)

Quantifiable outcome

• Operating cash flow exceeded EBITDA for the first time in 2025 (€1,359 million vs €1,358 million), marking a strategic inflection point toward a self-sustaining concessions model.
• +5 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered minor, strategic and core.

• Talgo (Portugal High-Speed Rail)minorStrategic or Co-development Partner · 10 July 2026Sacyr and Talgo are positioned for Portugal's high-speed rail construction opportunity worth €1.6 billion, serving future connections between Madrid-Lisbon and Vigo-Porto, with the 2030 FIFA World Cup as a target milestone.
• Eurolink Consortium (Messina Bridge)strategicStrategic or Co-development Partner · 15 June 2026The Eurolink consortium (including Japanese company IHI, Italian construction giant Webuild, and Spain's Sacyr) is pursuing the long-delayed bridge across Italy's Strait of Messina. The project has a €13.5 billion price tag and faces environmental and seismic concerns, with a newly opened corruption investigation.
• Calcasieu Bridge Partners / Louisiana DOTDcoreStrategic or Co-development Partner · 8 June 2026Sacyr participates in the consortium building the I-10 Calcasieu River Bridge P3 in Louisiana, working with the Louisiana Department of Transportation and Development and Calcasieu Bridge Partners. Arcadis provides design and engineering support. The project broke ground on April 29, 2026, with Arcadis participating in the ceremony.
• Dragados (Outer Port Tender)minorChannel Partner/ Reseller/ Distributor · 9 October 2025The Dragados-Sacyr Consortium and China Railway Construction Corporation Group joined the international tender for the Outer Port, with seven companies prequalified for the project.
• Novality (Urban Bike Facilities)minorStrategic or Co-development Partner · 5 October 2025Sacyr Green partnered with Novality to set up urban bike locker facilities, combining infrastructure development with sustainable mobility solutions.
• AENORminorStrategic or Co-development Partner · 3 June 2025Sacyr became the first infrastructure company to verify its environmental footprint with AENOR, obtaining environmental footprint verification certification.
• CaptoplasticminorStrategic or Co-development Partner · 28 May 2025Strategic collaboration agreement between Sacyr and Captoplastic to tackle microplastics in water, combining Sacyr's water treatment capabilities with Captoplastic's technology for capturing microplastics.

Scale indicators16 records

Recent moves11 records

Expansion highlights6 records

Others

• Brookfield Infrastructure Partners: Large infrastructure investor comparable to Sacyr's capital recycling counterparties (Actis, Goldman Sachs). Less a direct competitor but representative of the institutional capital base that finances Sacyr's concessions and represents potential buyers for mature assets.

Broad incumbents

• Abertis: Leading global toll road operator headquartered in Spain. Operates mature toll road concessions globally — highly comparable business model to Sacyr's concessions portfolio, though Abertis is the operator/buyer side of mature assets that Sacyr develops and recycles.
• Vinci: Global infrastructure and concessions major (French). Operates a comparable concession portfolio (toll roads, airports) plus construction services — a larger-scale reference point for Sacyr's targeted transformation into a global P3 concession leader.
• Atlantia: Italian infrastructure group formerly controlled by the Benetton family. Comparable toll road and airport concession portfolio, particularly in Italy and Latin America where Sacyr also operates.

Direct peers

• ACS Group: Spanish infrastructure and construction group, larger direct competitor in P3 concessions, toll roads, and engineering services across global markets. Competes head-to-head with Sacyr in Spanish and Latin American tenders.
• Ferrovial: Spanish infrastructure major (now headquartered in the Netherlands) with Cintra toll road subsidiary. Direct competitor in P3 concessions, often partnering with Sacyr in consortia (e.g., Lima Peripheral Ring Road, Toronto) but also competing for the same projects.
• OHLA: Spanish construction and concessions company (formerly Obrascón Huarte Lain). Competes directly with Sacyr in P3 highway and hospital concessions, particularly in Latin America.
• Acciona: Spanish infrastructure company with overlapping concessions, water, and renewable energy businesses. Direct competitor in P3 procurement and a frequent consortium partner in Latin American projects.
• Cintra (Ferrovial subsidiary): Ferrovial's toll road development subsidiary, arguably the most direct peer to Sacyr Concesiones. Competes for the same P3 highway tenders globally, including the I-77 North Carolina project where Sacyr is also shortlisted.
• FCC: Spanish infrastructure and environmental services group. Direct competitor in P3 concessions, water, and construction, with comparable geographic exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCwZ8xRk_7tSmfC2L5pL6F5A
• LinkedInlinkedin.com/company/94516
• Xx.com/SomosSacyr

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries5 records

Funding overview

Funding rounds4 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sacyr