The FCC Group closed 2021 with a net attributable result of 580.1 million euros, more than double that recorded in the previous year. This increase is mainly due to the good performance of the operating result in the different areas of the Group; for the purposes arising from the global consolidation of Realia.

In the company's annual accounts presented, the increase in the Group's consolidated revenues, which stood at 6,659.3 million euros, 8.1% higher than in 2020, also stands out, due to the positive evolution registered by a large part of the business activities, especially the Environment area, which increased by 12.4%.

The Group improved its gross operating result (EBITDA) by 7.6% to EUR1,126.6 million in 2021. This behavior is explained by the growth of operating margins in most business areas, mainly in Construction; and for the entry into global consolidation, in the real estate area, of Realia and Jezzine since November 1, 2021. On the contrary, it significantly affected the sales of CO2 made in Cemento in 2020 and the sale of Cedinsa. Adjusted for non-operating factors, EBITDA would have registered a growth of 17.9% in 2021.

At the end of the year, the areas of Environmental Services and Integral Water Cycle Management accounted for 74% of the Group's gross operating profit, while the remaining 26% came from activities, linked to the construction and management of infrastructures, the production of associated materials and the real estate business.

On the other hand, the net operating result (Ebit) registered a figure of 802.2 million euros, 40.1% more than the previous year. This increase reflects the positive evolution of EBITDA, as well as the accounting impact of Realia's global consolidation and the adjustment made to the asset value of property, plant and equipment and goodwill in the Cement area.

Net financial debt as of December 31 reached 3,225.7 million euros, representing an increase of 427.9 million compared to 2020. This increase is a consequence of the global consolidation of Realia and Jezzine's debt in the Real Estate area with an additional amount of 889.7 million euros at the end of the year.

As for the business portfolio, the figure reached 30,196.9 million euros at the end of last year, with an increase of 2.7% compared to the closing balance of 2020. The contribution of the Environment area stands out in this section, with an increase of 17%.

At the end of the year, net worth registered an outstanding strengthening with 4,440.7 million euros, 52.7% higher than that registered at the end of 2020, explained by the significant increase achieved by the net result and the effect of the global consolidation of Realia and Jezzine.

Relevant milestones

FCC Inmobiliaria strengthens its size and competitive

position On October 8, the Real Estate Head of the Group, FCC Inmobiliaria, reached an agreement with Control Empresarial de Capitales,(CEC) to acquire 13.12% of Realia's share capital for an amount of 83.9 million euros, which gives it a controlling position, a 50.1% stake and its global consolidation in the FCC Group. In addition, 100% of the capital of Jezzine, a rental company owned 100% by a subsidiary of CEC, is incorporated. As a result of this operation, FCC maintains control of FCC Inmobiliaria, with 80.03% of the capital, with an outstanding strengthening of its competitive position, operational synergies and presence in the activity of equity in rent.

Last December, Realia, through Realia Patrimonio, acquired 37.11% of its subsidiary Hermanos Revilla, S.A. for a price of 189 million euros. With this purchase, the realia Group's stake amounts directly and indirectly to 87.76% of its share capital and accesses control of 100% of the company.

Aqualia agrees to purchase 80% of GGU's water activity for USD 180 million

In 2021, Aqualia agreed to acquire 80% of Georgia Global Utilities' (GGU) water activity for $180 million. Since GGU owns water and power generation assets, the purchase process will be carried out in two phases: (i) a first phase, executed in February, in which FCC Aqualia has acquired 65% of the current GGU, which includes water and renewable energy assets, for a price of USD 180 million. (ii) a second phase, in which GGU will spin off the renewable energy assets, leaving in the perimeter of GGU exclusively the water assets (with 4 hydroelectric plants associated with the water cycle), thus reaching FCC Aqualia 80% of GGU and maintaining its previous sole shareholder the remaining 20%.

FCC Medio Ambiente expands its presence in the U.S. and Central Europe

Last December, FCC Environmental Services made its first acquisition in the U.S. with the purchase of Premier Waste Services in Dallas (Texas), a company specialized in the collection of tertiary waste in that area. This operation allows to strengthen the offer of services and increase the operational efficiency in the collection and treatment activities already existing in the State of Texas. In addition, the city of Wellington (Florida) awarded the municipal solid waste collection service for 10 years (with a possible extension of another five), with a portfolio of more than 110 million euros, which is added to the residential and commercial solid waste collection contract of Hillsborough County, also in Florida, for eight years (with a possible extension of four) with a portfolio of 230 million euros.

For its part, FCC Environment Austria was awarded the contract for the transport and treatment of municipal waste of the West Tyrol Waste Treatment Association, which will begin in January 2022, with a term of 5 years, extendable for another 5 years and with a portfolio of 33 million euros.

Aqualia wins three contracts in France

Last November, FCC Aqualia, through its subsidiary SEFO, was awarded the management of the water supply of 16 municipalities around Mantes-la-Ville in the department of Yvelines located in the region of Ile-de-France and very close to Paris. This award includes the concession, for 6 years and for an amount close to 30 million euros, of the supply of drinking water. In this way, the future income portfolio of the integral water management area exceeds 15,000 million euros, with an increase of 2.2% at the end of the year.

FCC Medio Ambiente increases its hiring and increases its revenue portfolio by 17% in the year

The volume of future revenue contracted in the FCC Medio Ambiente area grew by 17% at the end of the year, after increasing its revenues by 12.4% in the year, thanks to the incorporation of important contracts in Spain and the aforementioned in the USA. Among others, those of road collection in Barcelona stand out, which are joined in the fourth quarter by the award in Madrid of two lots of street cleaning, another two of integral management of green areas and two of conservation of urban furniture. This set of contracts contributed a combined contract of 1,585 million euros in the year.

Finally, in the treatment and recycling activity, it stands out that the joint venture led by FCC Medio Ambiente won the contract for the design, development and operation of the Center for Treatment and Disposal of Domestic Waste in Valladolid. With a duration of 11 years and a portfolio of more than 110 million euros. In addition, also in the recovery activity, the new contract for the selective collection and temporary storage of glass packaging waste for ECOVIDRIO in various regions of Spain stands out, with a portfolio of 13.5 million euros and with an 8-year duration.

FCC Construccion strengthens its portfolio in Chile

The project awarded in Chile in the third quarter of 2021 consists of the construction of the Industrial Bridge in the city of Concepcion, which has a budget of more than 125 million euros and an execution period of 32 months.

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