Fomento de Construcciones y Contratas S A : FCC Group EBITDA climbs 14% in the first half of 2022
July 29, 2022 at 03:55 am EDT
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In the first six months of the year, the FCC Group improved its gross operating profit (EBITDA) by 14% to €603.2 million. This performance reflects operating discipline and sound activity in the vast majority of the business areas.
The positive turnover of €3,584.4 million is 13.1% higher than the same period of the previous year, thanks to the positive performance throughout all the activities, highlighting a greater dynamism in the Environment area with an increase of 12.3%.
Net operating income (EBIT) amounted to €382 million, 18.2% more than in the same period last year, as a result of solid EBITDA performance.
Net attributable profit in the first half of the year was €226.6 million, 2.5% lower versus the same period in 2021, explained by the increase in profit attributable to minority interests.
FCC closed the first half of the year with a revenue portfolio of €38,001.2 million, an increase of 25.8% compared to the end of 2021. Of particular note is the Construction area, whose revenue portfolio increased by 29.8%, and the Water area, where the portfolio increased by 29%; in both business activities, the result is mainly due to international contracts and operations.
Equity rode this strong performance with a 9% year-on-year increase versus 2021 to stand at €4,840.7 million.
At the end of the first half of the year, net financial debt stood at €3,595 million, 369.3 million more than at year-end 2021. This increase is mainly due to the purchase of the company that owns and operates the end-to-end water cycle infrastructures in the capital of Georgia, at the beginning of the year, and to the acquisition of a minority stake by the Real Estate area last June.
KEY FIGURES
(M€)
Jun. 22
Jun. 21
Chg (%)
Net Turnover
3,584.4
3,168.0
13.1%
EBITDA
603.2
529.2
14.0%
EBITDA margin
16.8%
16.7%
0.1 p.p
Net Operating Profit EBIT
382.0
323.3
18.2%
EBIT margin
10.7%
10.2%
0.5 p.p
Income attributable to the parent company
226.6
232.5
-2.5%
Jun. 22
Dec. 21
Chg (%)
Net equity
4,840.7
4,440.7
9.0%
Net financial debt
3,595.0
3,225.7
11.4%
Backlog
38,001.2
30,196.9
25.8%
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FCC - Fomento de Construcciones y Contratas SA published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 07:54:09 UTC.
Fomento de Construcciones y Contratas SA (FCC) is a Spain-based company primarily engaged in the provision of environmental services. The Company's activities are divided into four business areas: Environmental services, Construction, Water management and Cement. The Environmental services division focuses on street cleaning, maintenance of urban parks and gardens, industrial waste management, waste treatment and recycling, among others. The Construction division offers engineering and construction of civil works, such as roads, railways, airports and hydraulic projects, as well as residential and non-residential buildings. The Water management division operates an integrated water management cycle, which includes intake, purification, treatment and distribution of the waste water. The Cement division manufactures cement, concrete, aggregate and mortar. The Company operates through numerous subsidiaries in Europe, the Americas, Africa and the Middle East region.
FOMENTO DE CONSTRUCCIONES Y CONTRATAS, S.A. 
