The FCC Group Construction area increases the gross operating result (EBITDA) by 70.2% over the same period of the previous year

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30/10/2019

The FCC Group Construction area increases the gross operating result (EBITDA) by 70.2% over the same period of the previous year

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The Construction area of the FCC Group has increased by 70.2% the gross operating result compared to the same period (January-September) of the 2018 financial year, reaching 73.7 million euros.

The revenues of the area increased 6.8% in the period to 1,218.6 million euros mainly due to the good pace of projects in the international area, specifically in Europe, accompanied by the positive effect of the exchange rate in the period, mainly the dollar (appreciation of 6.3%).

In Spain the turnover increases 1.7% to 447.8 million euros, due to the contribution of new contracts in this period, both building and civil works that compensate the completion of others in the previous year. Latin America the turnover is recovered throughout the year and reaches a level similar to the previous year with 247.2 million euros, due to the favorable evolution of works on line 2 of the Lima Metro and the Toyo Tunnel in Colombia.

In Europe, the United States and other markets, the turnover increases by 76.5% to 213.6 million euros, as a result of increased activity in projects initiated in EU countries such as the Haren complex in Belgium or other projects developed in Ireland and especially of various railway lines in Romania.

The net operating result stands at 55 million euros, which represents an increase of 54.9% compared to the previous year, reflecting the evolution already mentioned at the level of the gross operating result.

The area's revenue portfolio grows 8.7% at the end of the third quarter of the year to reach 4,909.3 million euros. Spain experiences a remarkable growth of 78.2% due to new hires such as the remodeling of the Real Madrid football stadium or the construction of the Murcia-Almeria high-speed Mediterranean corridor.

By type of activity, the civil work in portfolio represents 63.1% of the total, although the largest volume of contracting has occurred in the building activity due to the work of the Real Madrid stadium already mentioned. The industrial activity also experienced a 7.3% growth compared to December last year, up to 439.7 million euros due to the development project of a data center in Spain or new contracts for electromechanical installations in Saudi Arabia.