Industry Distribution:

• Energy: 45%
• Infrastructure: 35%
• Telecommunication: 20%

TOP 3 Markets:

• Spain: 40%
• Latin America: 30%
• USA: 15%

Elecnor, S.A. generates the majority of its revenues from the energy sector, followed by infrastructure projects and telecommunication services. Spain remains the largest market for the company, attributed to its strong presence and established projects in the home country. Latin America and the USA are also significant markets, strengthened by strategic projects and expansions in these regions.

Production Sites of Elecnor, S.A.:

Elecnor, S.A. is a Spanish company operating in the fields of infrastructure, renewable energies, and technology. The company has its production and project sites both in Spain and internationally.

1. Spain: Elecnor has numerous projects and production facilities throughout Spain, as the company is headquartered here and carries out a large part of its infrastructure projects.

2. International: Elecnor is active in over 50 countries, with significant projects in Latin America, Africa, the Middle East, and Asia. These international sites often focus on specific projects in the field of renewable energies and infrastructure development.

The company employs a global strategy to offer its services and products worldwide, relying on local partnerships and joint ventures to expand its production capacities.

Revenue Growth: Estimated 6-8% annually (2026)

Elecnor, S.A. pursues a growth strategy that heavily focuses on diversification and international expansion. The company aims to strengthen its presence in emerging markets, particularly in Latin America and Africa, where it is already carrying out significant projects in the renewable energy and infrastructure development sectors.

Another key focus is on digitalization and the implementation of new technologies to enhance the efficiency and sustainability of its projects. Elecnor is investing in research and development to offer innovative solutions in the fields of energy, environment, and telecommunications.

Additionally, the company aims to expand its market share in the renewable energy sector by investing in wind and solar energy projects. This strategy is supported by the global demand for green energy and the trend towards decarbonization.

Main raw materials: Copper, Aluminum, Steel, Concrete

Countries of origin:

• Copper: Chile, Peru
• Aluminum: China, Russia
• Steel: Germany, South Korea
• Concrete: Locally sourced, partially from neighboring European countries

Elecnor, S.A. is a company operating in the fields of infrastructure, energy, and telecommunications. It requires a variety of raw materials for its projects. Copper and aluminum are crucial for electrical installations and cables, while steel and concrete are needed for construction projects and infrastructure works.

The choice of countries of origin is based on the availability and costs of the raw materials. Chile and Peru are leading copper producers, while China and Russia are significant aluminum suppliers. Germany and South Korea are known for high-quality steel. Concrete is often locally sourced to minimize transportation costs and ensure availability.

Market share: Estimated 10-15% in the Spanish infrastructure and energy services sector (2026)

EBITDA margin: 8.5% (2025)

Elecnor, S.A. has a significant competitive advantage due to its strong market position in Spain and its diversification across various sectors such as energy, infrastructure, and telecommunications. The company benefits from long-term contracts and a solid project pipeline that ensures a stable source of income.

The EBITDA margin of 8.5% demonstrates an efficient cost structure and a profitability capability that exceeds the industry average. This is supported by continuous investments in technology and innovation, which enhance operational efficiency and strengthen competitiveness.

Moreover, Elecnor has built an international presence that reduces risk through geographic diversification and provides new growth opportunities. The ability to successfully execute complex projects in different markets further enhances the company's competitive advantage.

Institutional Investor Share: 45% (2026, estimated)

Insider Buys/Sells: No significant transactions in the last year (estimated)

The institutional investor share in Elecnor, S.A. is estimated to be around 45%. This demonstrates the confidence of institutional investors in the long-term performance of the company.

There were no significant insider buys or sells in the last year, indicating a stable assessment of the company's value by management and other insiders. Such activities are often seen as indicators of the company's future development.

Market share of Elecnor, S.A.: Estimate: 3-5% (2026)

Main competitors and their market share:

1. Iberdrola, S.A.: 15-20%
2. Acciona, S.A.: 10-12%
3. Ferrovial, S.A.: 8-10%
4. ACS Group (Actividades de Construcción y Servicios, S.A.): 7-9%
5. Sacyr, S.A.: 5-7%

Elecnor, S.A. is a significant player in the infrastructure, energy, and telecommunications sectors in Spain. Elecnor's market share is in the low single digits, indicating strong competition in the industry. Iberdrola and Acciona dominate the market with their extensive portfolios and global reach.

Elecnor's moat lies in its specialization in technical services and infrastructure projects that require high technical expertise. This provides some protection against new market entrants, as entering this specialized market requires significant investments and expertise.

However, larger companies like Iberdrola and Acciona have a stronger moat due to their global presence, diversified business models, and substantial financial resources. These factors enable them to take on larger projects and benefit from economies of scale.

In summary, Elecnor has a solid but not insurmountable moat. Competitors often have the advantage of size and diversification, giving them a stronger competitive edge.

Revenue Growth: 8.5% (2025) EBITDA Growth: 7.2% (2025) Backlog: €3.2 billion (End of 2025)

Elecnor, S.A. recorded solid revenue growth of 8.5% in 2025, driven by strong demand in the infrastructure and renewable energy sectors. The 7.2% EBITDA growth reflects stable operational efficiency and cost-effectiveness.

The backlog of €3.2 billion at the end of 2025 indicates a healthy pipeline of future projects, suggesting ongoing business activity and potential growth in the coming years.

Additionally, the company has increased its investments in renewable energy in recent years, which is seen as strategically advantageous in the context of the global energy transition. These factors suggest that Elecnor, S.A. could be an attractive investment opportunity, especially for investors interested in long-term growth.

Dividend Yield: 3.2% (2026, estimated)
Dividend History: Continuous payout over the last 5 years

Elecnor, S.A. has distributed a constant dividend to its shareholders in recent years. The dividend yield is currently estimated at 3.2% for the year 2026. This indicates that the company follows a reliable dividend policy.

The continuous payout over the last five years suggests that Elecnor aims to provide its shareholders with a stable return. The financial stability of the company and its ability to generate profits continuously support this dividend policy.