Técnicas Reunidas consolidates its growth and strong financial performance, driven by the Middle East and power generation for Data Centers

The project margin (EBIT) for the second quarter totaled 73 million euros, up 15% from the same period in 2025, representing a margin on sales of 5%, the highest quarterly profitability in ten years

New contracts secured in the first half-year reached 6,000 million euros and the total for the full year will exceed 8,000 million euros

• Net income for the second quarter was 44 million euros, nearly tripling that of the previous quarter and bringing the figure for the first six months to 59 million euros, which matches that of the same period in 2025.
• Project execution in the Middle East is progressively returning to normal operating conditions, and customer payments continue to be received on schedule. Therefore, the company has decided not to make any new provisions, and to maintain the figure of 45 million euros already applied in the first-quarter results.
• Following 6,000 million euros in new contract awards secured in the first six months of this year, the backlog currently stands at 14,000 million euros.
• Among the major contracts awarded this fiscal year, the one for the “upstream” facilities at a giant oil field in the United Arab Emirates stands out. At over 5,000 million euros, it is the largest contract ever secured by Técnicas Reunidas as a sole contractor in its entire history.
• Another of the most significant contracts of the period is the Greenlight project in Canada. This carbon-capture-ready combined-cycle gas plant will be developed by the subsidiary TR Power and will be dedicated exclusively to supplying power to a large META data center.
• North American market and TR Power’s activities in the energy sector will be the two main drivers of Técnicas Reunidas’ revenue growth in the coming years.
• Two other business that will grow significantly are services—reaching 375 million in new contracts this year—and artificial intelligence, digitalization, and robotics, which will receive an investment of 40 million euros and will have a specialized team of more than 400 professionals by the end of the fiscal year.
• The company’s robust cash generation resulted in a net cash position of 344 million euros at the end of the first half of the year, which is 12 million euros higher than the figure recorded at the end of 2025.
• Based on these solid results, Técnicas Reunidas estimates that, by the end of the current fiscal year, revenue will exceed 6,500 million euros, underlying EBIT will amount to more than 325 million euros, and the underlying EBIT margin will be over 5%, thus reflecting the company’s focus on the profitability of its operations.

Upon the release of these results, Juan Lladó, CEO of Técnicas Reunidas, stated that “The first half of 2026 has confirmed the strength and resilience of Técnicas Reunidas’ business model. Despite the challenges experienced in the Middle East, we delivered record revenues, strong profitability and robust cash generation. At the same time, we continued to secure major strategic projects that reinforce our medium- and long-term growth strategy.

In the Middle East, project execution is progressively returning to normal operating conditions, while client payments continue to be received on schedule. Accordingly, the €45 million provision recognized in the first quarter remains appropriate, and we remain comfortable with this position.

Our commercial performance during the first half of the year has been exceptional. We have already secured €6 billion in new orders, including the largest contract ever awarded to Técnicas Reunidas as a sole contractor. We now expect total order intake for 2026 to exceed €8 billion, further strengthening our record backlog and providing outstanding visibility for future growth.

Beyond our leadership in the Middle East, we are making significant progress in the strategic areas that will shape the future of Técnicas Reunidas. Power generation and North America are emerging as two key growth engines and are expected to become increasingly important contributors to our revenues in the years ahead. At the same time, our growth strategy remains firmly focused on profitability. The continued expansion of our services business, together with our Digitalization, Artificial Intelligence and Robotics capabilities, offers attractive opportunities to enhance margins and create additional value for our clients.

We are excited about the future of Técnicas Reunidas. The fundamentals of our industry remain highly supportive, with global demand for energy and power infrastructure continuing to grow at a rapid pace. Today, Técnicas Reunidas is stronger, more diversified and better positioned than ever to seize the many opportunities ahead and deliver sustainable, profitable growth for our shareholders.”