COMSA Corporación closed the 2025 financial year consolidating its sustained growth and operational strength. The company, which this year celebrates its 135th anniversary, reached €1.007 billion in revenue (+2% compared to 2024) and expects to maintain this positive trend with a forecast turnover of €1.022 billion in 2026.
The order backlog also reflects the group’s positive evolution, standing at €2.149 billion, a volume that ensures an activity level equivalent to the next two years. This result demonstrates the robustness of its business model, enabling stable growth planning with a long-term vision.
COMSA Corporación is Spain’s oldest construction company, and in 2025 increased its workforce by 8.3%, reaching 6,294 professionals to support the rise in activity and execution of major ongoing projects.
From a financial perspective, the company continues to make progress in its main profitability indicators. Net profit reached €10.1 million, representing a 33% increase compared to the previous year. This result consolidates the continuous improvement path followed in recent years.
These results also confirm the soundness of COMSA Corporación’s business model and its capacity to generate value in a competitive and constantly evolving environment. The company’s 2026–2030 Strategic Plan remains focused on sustainable growth, technological innovation and consolidation in high‑potential international markets.
By business area, the Construction division recorded a turnover of €609 million; Industrial Engineering, €224 million; Maintenance and Services, €140 million; and GMF, a company specialising in rolling stock maintenance, €45 million (including €10 million of in‑house work).
135 years driving key infrastructure
Founded in 1891 in Reus and of family origin, COMSA Corporación has a history marked by resilience. Over five generations, it has evolved into a professionalised and sustainable management model, integrating innovation, solid governance and a shared vision that has enabled it to adapt, grow and preserve the values that define a family‑owned company.
Specialised in major mobility projects, the company is the oldest construction firm in Spain and has participated in every high‑speed railway line in the country, as well as in the construction of more than 300 km of metro networks in cities such as Madrid, Barcelona, Bilbao, Lisbon, Porto, Dublin and São Paulo.
In 2025, COMSA Corporación’s Construction division led key projects to reinforce mobility and modernise infrastructure. Highlights include progress on the new rail access to Terminal T1 of Barcelona–El Prat Airport, the modernisation of Chamartín–Clara Campoamor station, and the Bilbao Southern Railway Bypass, among others, strengthening COMSA’s position as a benchmark in the rail sector.
In civil engineering, notable works include the extension of the Baix Llobregat Motorway, the construction of the new bus station at A Coruña’s Intermodal Hub, and the creation of the new bus‑HOV lane between Almonte and El Rocío (Huelva). In building construction, key projects include the new Hall Zero at Fira de Barcelona and Joan XXIII Hospital. In hydraulic works, the company is modernising irrigation systems in Ribera Alta del Porma (León).
The Industrial Engineering division recorded increased activity, with strategic projects such as the electrification of the Port of Bilbao, automation of Line 6 of Madrid Metro, and the renewal of UFD’s (Naturgy) communication network. COMSA Industrial also strengthened its presence in the airport sector through several contracts for modernising aircraft assistance systems at Aena airports.
In Maintenance, Conservation and Services, the group secured new integral maintenance contracts for penitentiary centres across Spain, reinforcing its role as a leading operator in this field. At the same time, COMSA Service continues to focus on specialised hospital maintenance, with contracts for the Regional Ministry of Universal Health and Public Health of the Valencian Community, the Maresme and Selva Health Corporation, and various Vithas Group centres.
Finally, GMF—the group’s company specialising in rolling stock maintenance—continued expanding its activity with projects such as Pecovasa, which involved adapting one hundred car‑carrier wagons to optimise transport capacity. The works, partly funded by Next Generation EU funds, were carried out at GMF’s new facilities in Palmela (Portugal).
International consolidation
Internationally, COMSA Corporación recorded €190 million in revenue, strengthening its presence particularly in Mexico, Portugal, France, Switzerland and Colombia. In Mexico, the company completed the refurbishment of tracks and systems on Line 1 of the Mexico City Metro and was recently awarded a section of the new Querétaro–Irapuato passenger railway line. In Portugal, the group is involved in the expansion of the yellow and green lines of Lisbon Metro, as well as renovation works on the Beira Alta Line, among other projects.
Start of operations as a Railway Undertaking
COMSA carried out its first operation as a Railway Undertaking, following the granting of its Licence in 2024 and the Single Safety Certificate in 2025. This milestone enables the company to achieve greater efficiency, speed and independence in the movement of its own machinery, consolidating its commitment to a modern, technologically advanced fleet that operates to the highest safety standards. Investments exceeding €50 million are planned between 2026 and 2030 for the renewal of specialised machinery.
Digitalisation
COMSA Corporación continues strengthening its digital construction model through the integration of BIM and Lean methodologies in its projects and a strong commitment to collaborative and transparent processes. Since 2014, it has been a pioneer in BIM implementation, supported by a multidisciplinary team dedicated to its organisation‑wide adoption, enabling the methodology to be applied in over one hundred projects.
This digital transformation is complemented by extensive experience in Lean Construction, aimed at optimising processes throughout the value chain and promoting highly collaborative working environments.
In line with its commitment to innovation, the group is involved in around twenty projects aligned with the SDGs, covering areas such as rail transport, circular economy, digitalisation and energy transition.
Commitment to sustainability
In 2025, COMSA Corporación conducted a new Double Materiality analysis aligned with EFRAG guidelines, anticipating the regulatory requirements expected in the coming years. The process involved an in‑depth assessment of the impacts, risks and opportunities generated by the company’s activities on its environment—and those that the environment generates for the company itself. This analysis forms one of the foundations of the 2026–2030 Sustainability Strategy, designed to meet the objectives of the 2030 Agenda.