Técnicas Reunidas’ net profit has grown by 35% compared to the first quarter of 2024

The backlog has reached the highest level in the history of the company, with 15,000 million euros

• EBIT has also been the highest ever achieved by Técnicas Reunidas in a quarter on stand-alone basis, with 56 million euros, 40% more than in Q1 2024.
• Total sales have reached 1,307 million euros, a figure meaning one of the highest quarterly levels ever achieved by the company, with a 30% increase versus Q1 2024.
• This high level has been the result, among other factors, of the historical backlog, which provides strong sales growth visibility for the coming quarters.

• Net income amounted to 28 million euros.
• EBIT margin over sales stood at 4.3%, compared with 4% in the first quarter of last year.
• Net cash position increased to 423 million euros at the end of March, 90 million more than at the end of the first quarter of 2024 and almost 30 million more than at the end of last year.
• Equity reached 626 million euros, 9% higher than at year-end 2024.
• These levels of net cash position and equity are higher than the ones reached before the COVID pandemic.
• Order intake totaled 3.7 billion euros, of which 3.3 billion euros from the Lower Zakum field expansion project for ADNOC Offshore (Abu Dhab)i and 420 million for the Vaca Muerta terminal for YPF (Argentina).
• The pipeline of new opportunities for the next 24 months amounts to more than 66 billion euros, of which 15 billion correspond to decarbonization projects.
• Based on these results, the company is confident that it will achieve the goals set for the current year, which include total sales of over 5.2 billion euros, with an increase of more than 15% compared to 2024 figure; and an EBIT margin of around 4.5%, more than 10% higher of last year’s one.

When the publication of these results, Juan Lladó, executive chairman of Técnicas Reunidas, has stated that the company “has started 2025 with very solid commercial, operational and financial results”.

“On the commercial side, we received great news from Abu Dhabi when ADNOC Offshore awarded TR one of the key packages of the Lower Zakum development, worth more than 3.3 billion euros. With this very important job, we have reached this first quarter a healthy 15 billion backlog”.

“The good news is also that, despite some current macroeconomic uncertainties, we see an environment in which our clients need and want to invest. We are actively engaged with them, bidding for their most emblematic projects. In fact, we are working on a pipeline of new opportunities worth over €66 billion for the next 24 months. An existing pipeline of projects focused on the markets, products and customers we want to be and work for”.

“At the operating level, we are reporting strong and high-quality delivery, which is well reflected both in the revenue line, which exceeded 1.3 billion euros for the quarter, and in our EBIT, which increased to 56 million euros. This has led to a stronger balance sheet with growth in equity and net cash”.

“In summary, we see very positive trends ahead of us. Our backlog and strong commercial pipeline are a direct result of the high recognition of TR’s engineering services and quality delivery. And our visibility of sales and profitability growth give us confidence in achieving our goals for 2025 and beyond.”