Azvi Group increased its turnover by 27.8% in the first six months of 2024, reaching 589.2 million euros. In this way, in the last year as a whole, it will exceed the 1,000 million euros in turnover that it already touched in 2023, when it reached 995 million after growing by 76%. The Andalusian construction company has also boosted its project portfolio, exceeding €3.9 billion as of August 31, 2024.
The positive evolution of income is accompanied by an even greater improvement in profitability. Thus, the company chaired by Manuel Contreras generated a gross operating result (ebitda) of 26.8 million euros between January and June of the recently concluded year, which represents an increase of 36.3% compared to the same period in 2023. A year, this one, in which the ebitda already rose 51%, to 62.8 million.
In parallel with the improvement in operating results, Azvi has increased its order volume in the last year with new works and concessions. The construction portfolio stood at 1,502 million euros as of August 31, including contracts for integrated UTEs (temporary joint ventures). This figure is lower than the 1,601 million that closed 2023. Of the total, 62% corresponded to international works, with Mexico and Chile as spearheads, although there has been a slight reduction due to the advanced level of project execution. railways in Mexico and the change of Sexennium. However, the construction company anticipates that the weight of the Mexican market will be maintained due to the upcoming maintenance contracts on the networks in the completion phase (Mayan Train and Interoceanic Train of the Isth of Tehuantepec) and the new large railway projects planned.
Azvi’s concession portfolio as of June 30 reached 2,408 million, compared to the 2,175.5 million it had at the end of 2023. After the summer, the Andalusian company signed the contract for the Northern Airport Network in Chile (Desierto de Atacama airports and Andrés Sabella). Of the concession portfolio, 45% corresponds to assets in Spain, 31% in Chile, 23% in Uruguay and 1% in Mexico.
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