DOMINION registers a 17% growth in its operating profit, exceeding the objective set in its strategic plan

26 / 10 / 2022

It registers an EBIT of €52m, which is 17% more than in the same period of 2021, in a quarter characterized by inflation and the increase in interest rates.

DOMINION, the multi-technological services and projects company, has presented the results for the first nine months of the year with a growth of 7% in sales and 10% in comparable net profit compared to the same period in 2021.

Specifically, it has recorded a recurring profit of €33.2m (before attributing the result to its Renewable Energy minority interest) and a turnover of €807m. The growth of the rest of the indicators shows its operating leverage, with an EBITDA that exceeds €88m and an EBIT (operating profit) of €52m, 17% more than in 2021.

The company follows a solid trend of growth in sales and margins, above the objectives of its strategic plan.

We maintain a sustained growth of the business, which anticipates a good end of the year, despite the unfavorable context with the increase in operating and financing costs.

Mikel Barandiaran

Mikel Barandiaran


The behavior of its business segments

The B2B Projects segment grew by double digit (12%) and exceeded €236M turnover in this period, with an accumulated backlog of over €600m for the coming years. Among them, the execution of the Buin Paine hospital in Chile and the projects in its renewable energy area in the Dominican Republic and Europe.

B2B Services also grew above its target and reached a turnover of almost €435m this period, 9% more than in 2021. Particularly noteworthy is its growth in the Energy sector (+29%) and in Telecommunications (+7%).

Finally, the B2C segment, the most affected by the negative environment for consumption, accumulates sales of more than €136m, 4% less than in the same period of 2021. Even so, it reaches a total of 336,000 active services, driven by its telecommunications vertical, and expects to improve the rate of new clients acquisition in the Energy vertical once its recent agreement with Repsol materializes.

Completion of its second share buyback program

Last Friday the company completed its second share-buyback program and already announced that it will redeem the 8 million shares acquired, which are equivalent to 5% of its capital. With this second program, the shareholder remuneration through the cancellation of treasury shares has already reached a 11% profit in the last two years, and represents an additional remuneration to the €13.5m dividend distributed last July.