In markets buoyed worldwide by the energy transition, Cobra IS generated €5.5 billion in revenue in 2022. Its order book is at an all-time-high €11.1 billion, or 24 months of average business volume, reflecting the strong momentum in its flow business in most of its host geographies and including the several large contracts it was awarded in 2022.
FLOW BUSINESS
Recurring infrastructure installation, operation and maintenance work accounts for roughly two-thirds of Cobra IS’s business. In Spain, where Cobra IS has strong local roots, these contracts generated €2.1 billion in revenue in 2022. They notably involved work on high-voltage transmission lines and medium- and low-voltage distribution net-works for operators Red Eléctrica de España, Endesa, Viesgo and Naturgy; gas distribution networks for Nedgia in Andalusia and Galicia; and public lighting systems for local authorities. It also provided maintenance services on road traffic systems in a score of cities or provinces, and on aeronautical equipment for several airlines at the Madrid, Barcelona and Palma de Mallorca airports. The new con-tracts Cobra IS was awarded in 2022 include one to roll out and maintain fibreoptic net-works in 10 Spanish cities or provinces for Telefónica, and one to renovate rail signal-ling in the Madrid area for Renfe.
Elsewhere in Europe, Cobra IS is one of the key players in the electricity transmission and distribution infrastructure market in Portugal. In 2022, its subsidiary ProCME notably worked on the uprating of the Palmela–Sines 2 and Palmela–Sines 3 lines (400 kV); refurbishment of the protection and automation systems and very high- voltage and low-voltage equipment at the Palmela substation (400 and 150 kV); construction of the underground section of the Fernão Ferro–Trafaria line (150 kV); and construction, maintenance and services on the distribution networks of E- Redes Distribución Eléctrica (in Lisbon, Algarve and Setúbal). In the United Kingdom, Cobra IS operates and maintains a 50 MW floating wind farm off the coast of Aberdeen. In Germany and Italy, it is regularly entrusted with deploying fibre-optic networks.
In Latin America, Cobra IS operates and maintains over 16,000 km of electricity transmission lines in Brazil and is rolling out and maintaining networks in Mexico, Argentina, Chile, Peru and Colombia with local subsidiaries of operators Enel, Telefónica and Naturgy. In the Caribbean, it is setting up a free-flow motorway toll collection system in Puerto Rico.
On other continents, it is working on a variety of projects including monitoring tunnel management and communication systems on the West Connex motorway network in Sydney, Australia.
