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Spain's Sacyr rebounds with $118 million profit for 2022

Headquarters of Spanish construction firm Sacyr in Madrid

MADRID (Reuters) - Spanish engineering firm Sacyr on Friday reported a 2022 net profit of 111 million euros ($117.5 million), rebounding from a loss a year earlier, helped by higher returns from its inflation-indexed concession roads businesses.

"Behind the strong 2022 results are new assets that begin to operate into concession services," the company said.

In 2021 it had posted a loss of 189 million euros.

Last year, Sacyr completed a highway and an airport in Chile, other roads in Colombia and a highway in Italy.

It is seeking to sell - entirely or stakes in - its cleaning services as well as 49% of its water division as it looks to focus on expanding its infrastructure concession assets, which contributed 88% of 2022's earnings before interest tax, depreciation and amortisation (EBITDA).

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Sacyr said it is looking to sell parts of some businesses this year, mostly to reduce its debt, which stood at 546 million euros at the end of 2022.

($1 = 0.9446 euros)

(This story has been refiled to remove garble in paragraph 3)

(Reporting by Corina Pons; editing by David Latona and Jason Neely)