The CEO of Duro Felguera, Jaime Argüelles, presented last Thursday to the market the main lines of the Company’s business plan and the capital increase project to allow two new industrial partners to become shareholders. Before a large representation of analysts and the media, he explained that it is a plan that marks the passage “from a phase of viability to another of growth and expansion” and expressed his conviction that it will be “very beneficial for the shareholders, the stakeholders of Duro Felguera and its workers”.
The CEO emphasised the great opportunities that the Company has before it, both by leveraging the strengths of its traditional lines of activity – conventional energy, industrial plants, services – and by strengthening the Group’s new businesses, focused on current trends related to the energy transition (renewables, focus on the green hydrogen vector and decarbonisation) and digital transformation.
He also highlighted the positive progression of the Company, which “is evolving favourably from a frankly critical situation in which it received public aid that provided a time in which we have managed to turn the situation around, putting us into positive numbers. This, together with our references, our knowledge and the good market prospects, has made Duro Felguera attractive to investors”.
In short, he remarked, “today we are a company that is evolving favourably in terms of results, that has a clear strategic direction and management model to emerge from the crisis by transforming itself into an excellent company. And that is where we are, in growth and transformation as pillars of our strategy”.
As for the main figures in this business plan, Duro Felguera is committed to increasing order intake three times over the figure achieved in 2022, rising from 348 million euros to 1,100 million euros in 2028, by which time it projects an Ebitda 19 times higher than the current figure, which will reach 95 million euros.
“The figures speak for themselves”, said Jaime Argüelles, who expressed his conviction and commitment to “bring the company to 1,000 million euros in four years”, although he did not hide the persistence of difficulties “so it is important to consolidate the capital increase operation” with the entry of Grupo Prodi and Mota Engil Mexico, with whom there are great synergies.
“It is an essential operation to solve the tense cash flow situation, guarantee long-term viability and execute the business plan, bearing in mind, however, that the solution must come from within,” he said.
In the presentation, the CEO explained in detail the financial operation, of which he highlighted the respect for pre-emptive subscription rights “to give opportunities to the shareholders who have accompanied the Company during this difficult period”.
“We are optimistic. The combination of the good evolution of the company, its business and management strategy, the good market prospects and the entry of the investor, will allow us to move on to another much more ambitious stage of results in which the transformation of Duro Felguera itself will be key in order to be competitive in the market”, insisted Argüelles.