Técnicas Reunidas earns 1.2 million until March compared to losses a year earlier

MADRID, 13 May.

Técnicas Reunidas earns 1.2 million until March compared to losses a year earlier


Técnicas Reunidas recorded a net profit of 1.2 million euros during the first quarter of this year, compared to losses of 61 million euros that were recorded a year earlier, as reported by the company to the National Market Commission on Friday. of Securities (CNMV).

Total sales reached €773 million, an increase of 1% compared to the first quarter of 2021 and an increase of 10% compared to the last quarter of 2021.

This is the first quarter since the start of Covid-19 that shows a recovery in sales both on an annual and quarterly basis.

The company has indicated that this recovery will be more visible in the second half of 2022 since the rescheduled projects will be contributing more to sales, some of last year's awards will enter more advanced stages and a greater pace will be reached in achieving milestones in those projects that are currently in execution.

However, the firm has indicated that it is closely monitoring the current commodity and supply chain environment, as events in Ukraine and lockdowns in China are adding to disruptions in the sector.

The net operating result (Ebit) stood at 7.1 million euros, which represents a margin of 0.9%, while the portfolio at the end of the first quarter of this year stood at 10,378 million euros.

"We are slowly getting back to normal in a progressive way: sales and capacity utilization have improved, and profits and operating margins have returned to positive, despite the fact that we must manage new challenges, related to the events in Ukraine and China ", highlighted the chairman of Técnicas Reunidas, Juan Lladó.

Looking ahead to this year, the company currently expects sales of around 4,000 million euros and an Ebit margin of over 2%.

In addition, Técnicas Reunidas expects awards to be around 4,000 million euros.


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