2025 Universal Registration Document

Key data

COBRA IS

Revenue

(in €m)

This chart shows Cobra IS revenue in millions of euros for 2024 and 2025. 2024: €7,105m. 2025: €8,004m.

Ebitda(1)

(in €m and as a percentage of revenue)

This chart shows Cobra IS Ebitda(Cash flow from operations before tax and financing costs. See glossary (page 456).) in millions of euros and as a percentage of revenue for 2024 and 2025. 2024: €702m, 9.9%. 2025: €786m, 9.8%.

Operating income from ordinary activities

(in €m and as a percentage of revenue)

This chart shows Cobra IS operating income from ordinary activities in millions of euros and as a percentage of revenue for 2024 and 2025. 2024: €553m, 7.8%. 2025: €644m, 8.0%.

Net income attributable to owners of the parent

(in €m)

This chart shows Cobra IS net income attributable to owners of the parent in millions of euros for 2024 and 2025. 2024: €297m. 2025: €333m.

Net financial surplus(2)

(in €m)

This chart shows Cobra IS net financial surplus(at 31 December 2025) in millions of euros for 2024 and 2025. 2024: €547m. 2025: €352m.

Capital employed(2)

(in €m)

This chart shows Cobra IS capital employed(at 31 December 2025) in millions of euros for 2024 and 2025. 2024: €4,865m. 2025: €5,340m.

Revenue by business activity

(as a percentage)

This donut chart shows Cobra IS revenue by business activity in 2025, as a percentage. EPC projects (Engineering, procurement and construction): 45%. Facilities: 26%. Control systems: 16%. Networks: 14%.

Revenue by geographical area

(as a percentage)

This donut chart shows Cobra IS revenue by geographical area in 2025, as a percentage. Spain: 40%. Latin America: 26%. Germany: 16%. Rest of the world: 11%. Middle East: 4%. Portugal: 3%. Africa: 1%.