Targets revenue of €84-86bn and operational net profit of €2.2-2.4bn by 2030, resulting in 18-20% of annual profit growth 

ACS Group has outlined its strategy to 2030, targeting revenue of €84-86 billion and operational net profit of €2.2-2.4 billion, as it expands its global infrastructure delivery and investment capabilities across high-growth markets. This is expected to generate an accumulated net operating cash flow (NOCF) of €9-11 billion over the 2027-2030 period. The targets represent compound annual growth rates (CAGR) in revenue of more than 10% from 2026 and in operational net profit of 18-20%.

The strategy builds on ACS’s position as a global integrated infrastructure group, combining end-to-end delivery with infrastructure investment. It focuses growth across AI, digital and technology; critical minerals and natural resources; energy, water and industrial; nuclear; security and defense; and transport infrastructure, while expanding higher-value engineering, end-to-end services and modular delivery. Juan Santamaría, ACS Group Chief Executive Officer, said: “A major cycle of infrastructure investment is under way, driven by technology, electrification, the modernization of ageing infrastructure, access to critical resources and changing geopolitical priorities.” “ACS has the scale, specialist capabilities, local market presence and investment capacity to respond to these opportunities. Our focus to 2030 is disciplined growth, bringing together more of the Group’s capabilities to deliver complex infrastructure for our clients and investing selectively where we see attractive long-term value.” ACS enters its new strategic period having exceeded the financial targets established at its 2024 Capital Markets Day. For 2026, the Group expects revenue of approximately €56 billion and operational net profit of approximately €1.16 billion, compared with the 2024 CMD targets for 2026 of €43-48 billion and €0.85-1.0 billion respectively. Its backlog has grown from €69 billion in 2022 to approximately €111 billion in September 2026, representing a CAGR of 13%. Net operating cash flow in the last 12 months to September 2026 is approximately €2.3 billion, compared with the €1.1-1.3 billion average annual target established for the 2024-2026 period. By 2030, ACS is targeting €84-86 billion in revenue, €2.2-2.4 billion in operational net profit and €9-11 billion in cumulative net operating cash flow between 2027 and 2030. The Group also intends to grow shareholder remuneration continuously, targeting dividends of up to €4.9 per share by 2030, while maintaining an investment-grade rating, strong balance sheet and disciplined approach to capital allocation. Growth across a diversified infrastructure portfolio

ACS will build on its established positions across infrastructure markets where it sees strong long-term demand. In AI, digital and technology, ACS expects data center revenue to grow from €17-18 billion in 2026 to €27-30 billion by 2030, representing a CAGR of 12%. The Group is also developing more than 2 GW of IT capacity through Coravel and ACS Digital & Energy-owned developments, while expanding end-to-end value-added services and modular delivery. In critical minerals and natural resources, ACS plans to expand its engineering-led position across the project lifecycle, from studies and engineering through EPCM and longer-term operations. The Group is targeting backlog of €12-13 billion by 2030, up from approximately €8.5 billion in Q3 2026, with a focus on strategic minerals including copper, lithium and rare earths and expansion across Europe and the Americas. In energy, water and industrial, ACS is scaling its capabilities across energy networks, power generation and storage, water, oil and gas and LNG services, rail electrification, telecommunications and industrial processing infrastructure. Excluding nuclear, the Group is targeting backlog of €8.5-9 billion by 2030, compared with €4.0 billion in Q3 2026, representing a 20% CAGR. In nuclear, ACS is bringing together more than 70 years of engineering and project delivery expertise to become an end-to-end delivery partner for OEMs, utilities and governments. It is targeting nuclear backlog of €8-9 billion by 2030, from €2.5 billion in Q3 2026, representing a 34% CAGR. In security and defense, ACS will build on long-standing relationships with governments, defense primes and critical infrastructure owners as it expands into higher-value services. It is targeting backlog of €10-11 billion by 2030, compared with €5 billion in Q3 2026, representing a CAGR of 20%. Across these markets, ACS’s competitive advantage lies in its end-to-end capabilities through advanced engineering, global supply-chain expertise, project management, self-performance and modular delivery, supported by local execution capabilities across its major geographies. Investing across the infrastructure lifecycle

Infrastructure investment forms a second core component of the strategy. ACS plans to continue investing across digital and energy infrastructure, transport and social infrastructure, including data centers and managed lanes, alongside its brownfield infrastructure portfolio through Abertis. The Group is targeting an additional €3.8 billion investment to 2030 in greenfield infrastructure, while Abertis provides a mature brownfield platform generating resilient recurring cash flows. The combination of infrastructure delivery and investment is designed to generate delivery margins, development upside and recurring asset earnings, with selective asset rotation providing further value-creation optionality. Positioned for long-term growth and value creation

ACS has set an ambition for €77-81 billion of Group intrinsic equity value by 2030. Within this, the Group expects the intrinsic value of its infrastructure investments, both greenfield and brownfield, to reach c.€25 billion by 2030 and €45-48 billion by 2035. Together with continuous growth in dividends to as much as €4.9 per share by 2030, these ambitions reflect ACS’s focus on translating growth in its core infrastructure businesses, expansion in high-growth verticals, margin improvement and the maturing value of infrastructure investments into long-term shareholder value. The full 2026 Capital Markets Day presentation and webcast are available at CAPITAL MARKETS DAY 2026.