A road map that proposes rapid growth, but sustained over time, with prudent but at the same time ambitious figures, and where social responsibility practices leave their mark on the daily life of the company. This is how the strategic plan of Coxabengoa, headed by Enrique Riquelme from Alicante and resulting from the merger of Grupo Cox and Abengoa, can be described. A company that aims to exceed 3,000 million euros in turnover in 2027 and to have a greater presence in the Valencian Community and in particular in the Enrique Riquelme region in Vega Baja.
In this new phase, the group is structured into five well-defined verticals or divisions. On the one hand, we have Coxabengoa Energy, dedicated to the engineering, supply and construction (EPC), electricity generation and marketing of energy assets. On the other hand, there is Coxabengoa Water, which is responsible for the construction of hydraulic infrastructure and specializes in the construction of desalination plants such as Agadir in Morocco, which is considered the largest in Africa. Thirdly, there is Coxabengoa Infra, the infrastructure division, and in particular transmission lines and substations, which was the origin of Sevillian engineering when it was born in 1941. Coxabengoa Services, with its own infrastructure and third-party operation and maintenance, and Coxabengoa Tech, focused on innovation and with 255 patents, complement Abengoa’s group of 11,200 employees, 1,700 of whom were hired in recent months following its acquisition by Cox.
Looking at the strategic plan figures, it is expected to increase from 736 million euro turnover and 109 million euro EBITDA, which is expected to be closed in the first stage this year, to 1 billion 203 million euro revenue and 175 million euro EBITDA next year. ; 2,101 million in revenue and 368 million in ebitda in 2025; 2.685 million and 533 million in 2026; By 2027, the target is to reach 3,020 million in revenue and 609 million in EBITDA, tripling the figure projected for 2024. In this sense, the emphasis will logically be on the energy department. It is the origin of Grupo Cox and Cox Energy, but also of water and infrastructure.
Now Coxabengoa doesn’t just want to keep growing in numbers. It also wants to have a greater presence in the Valencian Community and above all in Vega Baja. In this context, the company’s executive chairman, Enrique Riquelme, has made it clear from the beginning: “Our commitment to Seville is complete and Abengoa will continue to be headquartered in Seville, although Cox is based in Madrid.” But he also emphasizes: “You don’t need to think so much about Seville, Madrid or Alicante. The headquarters is not important, what matters is where the professionals are. “I don’t think I have the right to change the lives of 2,000 people in Seville and just like the people in Madrid “Just as it continues to live, we will continue to create jobs there.”
This does not mean that I cannot add that “on a personal level, since I am from the Valencian Community, my aim is also to invest in the Valencian Community and continue to create jobs.” In this vein, Enrique Riquelme states: “This new Government has treated us very transparently and we will continue to invest and create wealth in this autonomy and, above all, in the Vega Baja region, where we want to grow.” Some of the factories in the region are industrializing. The aim of the businessman, who was born in the municipality of Cox, is to “focus on our growth in some Abengoa verticals in the Valencian Community and Murcia and continue to develop delegations to see how we grow in water and desalination and, above all, in job creation” talent and training.
To achieve its goals, Coxabengoa will appoint Ignacio Moreno, who has extensive experience in the financial sector, as CEO. Coming from Credit Suisse, he spent most of his career at Barclays.
Applied in more than 30 countries worldwide
The merger of Abengoa and Cox Energy will allow the new group Coxabengoa to have a presence in more than 30 countries worldwide. The focus now is on entering new markets and continuing to operate in markets where they already operate, with particular emphasis on the United States. The list of areas where the company is located is quite extensive. Especially in Latin America, where they currently work in Mexico, parts of the Caribbean and Central America, Colombia, Chile, Argentina or Brazil. In Europe, they have a presence in Portugal, Spain, Italy, France and the United Kingdom. Even in Ukraine there are people finishing the transmission line right now. Coxabengoa is also in Algeria, Morocco, South Africa, Kenya, Egypt and throughout the Middle East. In fact, in addition to the Agadir desalination plant in Africa, it also has another facility in Ghana. The aim is to continue investing in water and to become a major player in the Spanish market, especially with the Coxabengoa Water division. “The time has come to get into the water and we want to contribute to the knowledge of becoming the largest global desalination group with our own technology,” says Enrique Riquelme.