FCC increases its profit by 43% and its work portfolio in Spain by 15%

  • The award of the Bernabéu adds to this growth in the list of projects in the domestic market
  • It increased its income in the first three months by 7.9%, reaching 1,437.7 million

FCC got a net profit of 72.4 million euros in the first quarter of the year, which means shoot 43.9% earnings a year earlier, thanks to the lower financial expense it supports after cutting its debt and the higher contribution from investee companies.

The group controlled by Carlos Slim increased its revenues in the first three months by 7.9%, reaching 1,437.7 million, driven by the growth of all businesses, especially construction.

On his side, the gross operating profit (Ebitda) stood at 207.8 million, which implies an increase of 4.1% over last year, after registering a margin of 14.5%.

The water businesses of the Aqualia subsidiary and those of environmental services contributed 77% of Ebitda, despite the fact that the traditional construction activity increased its contribution to this item by 37.8%.

The division of environmental services, which FCC will restructure to give it independence as a subsidiary, also remains the primary source of income. It contributed 703 million, 3.5% more and 48.9% of the total.

WORK PORTFOLIO INCREASE IN SPAIN

Regarding the construction business, the company highlightsl 15.4% growth than its portfolio of works in the quarter, with a volume of 1,241 million euros, thanks to the achievement of contracts such as the remodeling of the Plaza de España in Madrid or the construction of a hospital in Seville.

At this closing amount for March it is necessary add the ‘macro-contract’ for the expansion and renovation of the Santiago Bernabéu stadium that Real Madrid awarded to the group this Wednesday for 470 million euros.

Despite this, FCC keeps the thickness outside (73%) of its total portfolio of pending projects of 4,587 million. This construction activity shot up its income by 12%, to 363.4 million, thanks to this new contract and the “good rhythm of international works”.

Nevertheless, the cement division is the one that grew the mostOr, 22%, due to the increase in demand, while Aqualia contributed 269 million, 9.8% more. This water subsidiary is the first by portfolio of contracts, with 15,455 million, ahead of environment (10,487 million) and construction.