Letter from the Chairwoman


Dear employees, shareholders and clients:

On 20 July, 2018, we celebrated a very important date: the company’s official 50th anniversary. Five decades of modernization and development of Spanish transport infrastructures in which Ineco, Goverment’s in-house resource and technical service has actively participated. It has provided its shareholders Enaire, Adif and Renfe, as well as other public and private clients, with the ingenuity and talent of the hundreds of professionals responsible for the transformation of the transport and mobility model in our country since 1968 and was directly involved in the improvement of people’s quality of life.

Half a century of a history also marked by experience gained in improving transport in more than 50 countries.

Throughout 2018, we had the opportunity to take stock of this journey that has led us to grow from  the initial five employees who accompanied our founder, the civil engineer Carlos Roa Rico, in Ineco’s early stages, to the 3,000  professionals  employed by the company today. We have come a long way,  but obviously not without the challenges we have been able to overcome successfully and that have allowed us to continue growing year after year. This is demonstrated by the results of the 2018 financial year, which ended with an increase in turnover of over 20%, with 273.79 million euros, and an operating profit of 8.81 million euros, in comparison with 2017.

However, beyond the figures that show that we are undoubtedly on the right track to successful teamwork, effort and dedication of the professionals at Ineco, the celebration of our 50th anniversary has shown that the values that shape our corporate culture are solid and effective: commitment, respect, rigour, providing value and integrity, as well as our commitment to society as a whole and to the environment. Values that broaden the specific scope of our activity through the firm commitment of our company to the Ten Principles of the Global Compact, as well as effective and real equality between men and women in the field of engineering.

In terms of the activity, we have remained faithful to the spirit of innovation, flexibility and technological evolution of our origins. In 2018, we continued working in the railway sector on large-scale projects, both in Spain and abroad. Since it was founded, Ineco has continued to provide support to Adif and Renfe throughout Spain.

In terms of foreign activity, the company was awarded the first ORAT rail contract for the commissioning of the new Moynihan station in New York, as well as the company’s first railway contract in Australia. 2018 has also marked a milestone with the commissioning of the high-speed line between Makkah and Madinah, in Saudi Arabia, where Ineco will continue to work in the coming years. At the same time, it has continued developing projects like HS2 in Great Britain and others in Mexico, Denmark or Turkey.

In the aviation sector, Ineco has continued its close collaboration with Aena and Enaire on different airport projects as well as the optimisation of airspace and update and improvement of ATM/CNS systems. At international level, it is important to note that the company was awarded a contract for designing a new airport in Heraklion, Crete, and that it has continued its work at Schiphol and Abu Dabi airports, as well as others in Jamaica, Costa Rica or Peru.

As for the area of roads, at an international level, work in Mexico, Argentina or Costa Rica has continued. In Spain, Ineco has continued to support the Ministry of Public Works in multiple initiatives to improve and modernize the national road network.

In the intermodal sector, special emphasis must be given to the increase in activity in smart cities and support for digitisation of the Administration.

In  short, 2018 has closed with a  positive balance as well as the celebration of five decades of  history, projects and experiences of enormous value. Fifty years during which we have had the support of clients and shareholders and, of course, the hundreds of professionals who have made it possible, and we hope to continue to do so. I would like to thank all of you, from the past and the present, and I would like to invite you to join us in facing future challenges, which, like our journey, have only just begun.

Carmen Librero Pintado

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