Pedro Siguenza Hernandez
CEO & Director

Good morning. I'm Pedro Siguenza, Chief Executive Officer of Sacyr. Joining me today is Carlos Mijangos, the company's Chief Financial Officer. Thank you all for attending Sacyr's earnings call for the first quarter of fiscal year 2026.

I will begin my presentation by addressing the key financials for the quarter. Revenue increased by 5% compared with the first quarter of 2025, reaching EUR 1.116 billion. EBITDA rose by 9% to EUR 327 million, representing a margin of 29.3%, 90 basis points higher than in Q1 2025.

Operating cash flow amounted to EUR 223 million, up 12% year-on-year, excluding the impact of the sale of the Colombian assets. These financial results demonstrate that the new awards now entering operation are replacing the contribution of the assets divested in Colombia that are no longer in the company's perimeter.

Net profit attributable to the parent recorded a strong increase of 40%, reaching EUR 38 million. Net recourse debt remained below 1x, maintaining a solid financial structure and delivering on our financial commitments.

Amongst the most significant milestones of the quarter, I would like to highlight the award of the Ontario Science Center in Toronto, our first concession in Canada. This 30-year concession will deliver what is set to become one of the country's most iconic buildings and will undoubtedly transform Toronto's skyline. It could be one of the most advanced science outreach centers in the world.

With this award, for which a EUR 645 million