DOMINION posts record net income in the first quarter once again

10 / 05 / 2022

DOMINION presented its results for the first quarter of 2022 with a 4% increase in adjusted sales and 23% growth in comparable net income compared to the same period of 2021.

Specifically, the company reported a profit of €11m (prior to attribution to its new Renewable Energy Business minority interest) and revenues of €263m. The rest of the indicators show its operating leverage with EBITDA of €16m, up 9%, and EBIT (or net operating income) of €15m, 9% higher than in 2021.

DOMINION has shown to be capable of generating value on a recurring basis in almost any circumstance and context and positioning itself in activities with great growth prospects.

Mikel Barandiaran

Mikel Barandiaran


Growth in all business segments

Of particular mention is the growth of the B2B Services segment, which achieved €137m in revenues this quarter, 5% more than in 2021, with new projects in energy and telecommunications in Spain and Central Europe.

Its B2B Projects segment posted a turnover of more than €80m in this period and has a contract portfolio of more than €600m for the coming years, driven by major projects such as the construction of the Buin Paine hospital in Chile and its Renewable Energies Business area. DOMINION's clean energy business brought in a minority shareholder, Incus Capital, with a 23.4% stake at the end of 2021, as part of a capital increase that involved a cash in of €75m. In the first months of the year, the company has already begun to execute several projects in the Dominican Republic and Spain.

Finally, the B2C segment reported sales of more than €45m, 4% more than in the same period of 2021, and closed the period with more than 300,000 telecommunications and energy service deliveries, despite the difficulties in attracting new customers due to poor consumption data and high prices in the energy sector.

DOMINION has embarked on a profound transformation of its B2C business to become a home services integrator. The company is committed to diversifying its offering with the launch of different commercial brands, which will be marketed through digital channels and the omnichannel distribution network of Phone House.