Sorigué reinvests 190 million euros in sustainability

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Sorigué reinvests 190 million euros in sustainability

June 29, 2022

The business group has grown 7% compared with the previous year, while its EBITDA increased by 19.2%, reflecting its robust and stable growth. In 2021, the company expanded its workforce from 4,000 to 4,500 people, of which around 80% have permanent contracts.

A benchmark in sectors such as services, construction and the water cycle, Sorigué closed the 2021 financial year with consolidated sales of 655.3 million euros and EBITDA of 34.8 million euros, representing an increase of 7% and 19.2% on the previous year.

The business portfolio in 2021 amounted to 1.347 billion euros, while net profit amounted to 17.2 million euros. The group’s own funds make up 40% of the 2021 balance sheet, attesting to its robustness and stability.

This year, Sorigué also grew in terms of human resources. Its workforce increased by 500 people, going from 4,000 to 4,500. Around 80% of the workforce have permanent contracts.

For Luis Villena, CEO of the group, “this development allows the company to maintain its solid financial position and competitive business growth, and to reinvest with a sustainable approach. Our goal is to consolidate our business model and to contribute value in all our activities, particularly in urban services, energy efficiency, waste management and green infrastructure.”

Investments with a sustainable approach

Upholding its commitment to ongoing improvement, the Sorigué business group will reinvest 190 million euros in sustainable projects over the next five years:

• CLD, Sorigué’s environmental services company, will invest 75 million euros to upgrade its facilities in L’Hospitalet de Llobregat and to turn its machinery and
vehicles into an eco-friendly fleet powered mainly by its photovoltaic self-consumption installation. This investment is in response to the start of the new street cleaning contract in Barcelona, in which CLD will be responsible for the Sarrià-Sant Gervasi, Les Corts and Sants-Montjuïc districts.

• In September 2022, it will open its first recovery plant to serve industry and large waste producers in the Barcelona metropolitan area. As such, the group is involved in the integral waste management cycle and goes one step further in its commitment to the circular economy.

• In its commitment to the green transition, Sorigué will continue to invest in its Energy division through inorganic growth. The group is finalising the acquisition of another company this summer and looking into the acquisition of a third by 2023. In 2021, Sorigué acquired the company Ecotelia, an engineering firm in La Rioja specialising in renewable energies. Along these lines, the company is working to increase the energy efficiency off all its centres.

• Sorigué maintains its strategy of supporting technological-growth companies linked to decarbonisation and climate change, both from the point of view of co-investment and support in the management and development of their business models.

Innovation projects

In the last four years, Sorigué has invested 4.2 million euros into research, particularly in projects related to the circular economy.

The group has carried out over 100 innovation projects in areas such as the water cycle, waste recovery, reuse of construction materials, efficient asphalt management, and others.

In 2019, the group acquired the start-up Biobubble for the manufacture of single-serve biodegradable packaging and, in 2020, it teamed up with the company Platio for the distribution of photovoltaic pavement.

This year, Sorigué is participating in Water Harmony, a collaborative project between international entities from 17 countries. The initiative is seeking to generate new knowledge about water management through the exchange of good practices, research and innovative developments.

The group maintains lines of collaboration with entities such as the Spanish Centre for the Development of Industrial Technology (CDTI), the Catalan Agency for Business Competitiveness (ACCIÓ), The Catalan Waste Agency of the Generalitat de Catalunya, the Institute of Photonic Sciences (ICFO), and the Institute of Agri-Food Research and Technology (IRTA), among others.

Consolidation in urban services and geographic diversification

Sorigué continues to expand its range of services to the city with a sustainable approach and green innovation proposals, and to strengthen its territorial presence in different Spanish communities.

In Madrid in 2021, Sorigué reached a framework agreement for the comprehensive maintenance of the buildings and facilities in the Puente de Vallecas district for the Municipal Government of Madrid, and in 2022 it has begun the comprehensive maintenance of Plaza España in the city.

In Catalonia, the company began the comprehensive maintenance of the iconic Tibidabo theme park in Barcelona in 2021, and in 2022, it will begin waste pickup services in three districts in the city.

In Andalusia, since last year, it has been responsible for the comprehensive maintenance of 8 hospitals in the provinces of Jaén and Córdoba for the Alto Guadalquivir Hospital Public Business Agency. Also in 2022, it has begun a framework agreement for repair works on the drinking water and sewer networks in the city of Malaga.

Statement of Non-financial Information and Consolidated Report

In line with its commitment to transparency and social responsibility, this year Sorigué presents its Statement of Non-Financial Information and Consolidated Report together for the first time. The document brings together its financial and non-financial results. The group presented its first Sustainability Report in 2015, following the parameters of the Global Reporting Initiative (GRI).

Of note in this report is the renewal of the IQNet SR10 certification, which guarantees a Social Responsibility management system, and the UNE 19601, which certifies the group’s Criminal Compliance management system.

The environmental sustainability measures integrated into the business include the following: Green Infrastructure uses plant material from pruning to turn into biomass; in its water network maintenance contract in Barcelona, it recycles 100% of the aggregate extracted; in its asphalt contracts using cold recycling techniques, it recycles 100% of the milling material, and through its warm mix techniques, it reduces CO2 emissions by 49% in the manufacturing process, among other initiatives.

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