Annual rank72
Spain · Industrials
ACS
Develops, finances, builds and operates infrastructure spanning transport, energy, digital facilities, healthcare, education, manufacturing and defence.
FY2022–FY2025
FY2022–FY2025
FY2022–FY2025
current context only
Company profile
Contractor network, project developer and infrastructure investor
ACS is a Spanish listed infrastructure group spanning construction, engineering, asset development, investment and selected operations. The name on a site may be Turner, Dragados, FlatironDragados, UGL or another controlled business, so the group's role changes by project: builder at one, developer or equity sponsor at another, and lifecycle partner through a joint venture elsewhere. The examples below separate those roles from the responsibilities of clients, public authorities and project partners.
Digital infrastructure
Builder at Hyperion, co-developer through Coravel
At Meta's Hyperion campus in Richland Parish, Turner is a construction partner; a Meta-Blue Owl joint venture will develop and own the campus, while Meta will provide construction-management and property-management services. The planned expansion targets 5 GW and nearly 10 million square feet. In Texas, ACS has a different role. Coravel is the operating brand for a 50:50 ACS-GIP joint venture formed to develop and operate a Dallas-Fort Worth campus. Its first lease covers about 140 MW across three facilities, with rights for about 100 MW more; phased service dates run through 2028 and Turner leads construction.
- Enter Meta's Hyperion construction site Turner's contractor role, planned scale and community programme
- Map Hyperion's ownership Meta and Blue Owl's joint venture, financing and operating boundaries
- Open the first Coravel lease Capacity, expansion rights, future service dates and Turner's delivery role
- See how the ACS-GIP platform began The completed joint venture and its initial 1.7 GW development portfolio
- ▶ VideoWatch: students explore a live data-centre project English film from ACS showing Turner and Dragados at work in Madrid
Mobility and concessions
The SR 400 roles are divided by contract
Georgia's 16-mile SR 400 Express Lanes separates project roles. GDOT and SRTA are the public counterparties. SR 400 Peach Partners - ACS Infra, Acciona and Meridiam - is the developer and equity consortium; FlatironDragados and Acciona lead construction, and Parsons is lead designer. The agreement exceeds 55 years and combines design, construction, finance, operations and maintenance. These roles describe a consortium, not sole ACS ownership of the corridor.
- Read the current SR 400 role map Developer, equity sponsors, construction leaders and public partners
- Explore the 16-mile corridor Alignment, express-lane connections and project resources
- Meet the project consortium Equity members, design-build joint venture and long-term operating role
- ▶ VideoWatch: the infrastructure lifecycle ACS Infra's English explainer on development, delivery and operation
Energy and critical minerals
Contractor, supplier and investor roles change by project
At Western Downs in Queensland, Neoen owns and operates the battery; CIMIC's UGL is the Stage 3 balance-of-plant contractor. The project under construction adds 305 MW / 1,220 MWh and 312 Tesla Megapacks, with operation expected in the Australian summer of 2027/28. In Germany's Upper Rhine Valley, Vulcan is developing Lionheart. Sedgman and HOCHTIEF Infrastructure are EPCM contractors for its extraction and processing plants; HOCHTIEF separately committed project and equity investment and is preferred for civil works. Lionheart targets 24,000 tonnes of battery-grade lithium hydroxide annually. These are planned outputs, not current production.
- See who owns Western Downs Neoen's operating assets, Stage 3 launch and Tesla-UGL notices
- Follow UGL's Stage 3 work Earthworks, trenching, concrete and Megapack preparation
- Read the Lionheart role map EPCM appointment, investment commitment and preferred civil works
- Explore Vulcan's integrated process Geothermal brine, lithium conversion and future production targets
- ▶ VideoWatch: CIMIC's integrated solutions English film connecting construction, UGL, Sedgman and Thiess
Operating model
Control, partnerships and accounting are not the same
ACS's directory separates Integrated Solutions (Turner and CIMIC), Engineering & Construction (Dragados, FlatironDragados and HOCHTIEF Europe) and Infrastructure Investment (including Iridium, ACS Infra and HOCHTIEF PPP Solutions). CIMIC states that HOCHTIEF is its direct parent and ACS is HOCHTIEF's majority owner. Abertis requires another label: ACS's 2025 integrated report records a 50% group interest within equity-method investments, so Abertis road operations are not those of a wholly owned ACS subsidiary.
- Navigate the ACS company directory Operating businesses separated by activity and platform
- Trace CIMIC's parentage CIMIC's own explanation of HOCHTIEF and ACS relationships
- Read the 2025 integrated report Group structure, activities and Abertis accounting treatment
- ▶ VideoWatch: engineering and construction English primer on civil engineering, transport, water and public-building capabilities
Official profile sources: Integrated Solutions - Activities - Grupo ACS · Our purpose & strategy - About ACS - Grupo ACS · ACS forecasts double digit growth in 2008 and a 15% rise in ordinary profit · About ACS - Grupo ACS
Current 2026 update
What has changed in 2026?
Australian energy projects announced 22 July 2026 · 22 July 2026
Australian energy projects announced 22 July 2026latest official update
4company-specific highlights
+40%2026 stock return · context only
Sales
Q1 sales reached EUR 12.34 billion, up 4.7% year on year and 12.5% adjusted for exchange rates.
Profit
Attributable net profit rose 21.5% to EUR 232 million.
Backlog
The Q1 backlog reached EUR 99.82 billion, up 9.9% year on year and 13.5% adjusted for exchange rates.
Two Australian energy projects
CIMIC companies were selected for the 179 MW Narrogin wind farm and awarded Transgrid enabling works at two New South Wales substations.
Official 2026 sources: ACS Group increased its net profit by 21.5% to €232 million · 12 May 2026 · CIMIC is moving forward with Australia's energy transition through two new projects · 22 July 2026
Annual record
Ranking history
Future editions add rows; they do not rewrite the 2026 record.
| Edition | Measurement period | Rank | Revenue growth | Net-income growth | Stock return |
|---|---|---|---|---|---|
| 2026 | FY2022–FY2025 | 72 | +48% | +42% | +325% |