The construction area of the FCC Group obtained revenues of 1,113.2 million euros during the first nine months of the year

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06/11/2020

The construction area of the FCC Group obtained revenues of 1,113.2 million euros during the first nine months of the year

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The construction area of the FCC Group has obtained revenues of 1,113.2 million euros during the first nine months of the year. Their reduction has been 8.6% compared to the same period in 2019, mainly caused by the emergence of COVID-19 and the mobility reduction measures implemented, especially in Latin America and the Middle East.

By geographical areas, in Spain the turnover increased by 33.9%, to 599.6 million euros, due to the execution of relevant building projects, among which the Santiago Bernabéu football stadium stands out. In Europe and other markets, the turnover grew by 38.2% compared to the previous year and reached 257.6 million euros, thanks to the increased activity in projects started in EU countries, where the new highway contract stands out A ‐ 9 in the Netherlands or the Haren prison in Belgium. In the Middle East and Africa, revenues decreased by 39.4% to 187.9 million euros, mainly due to the lower activity registered in the construction of the Riyadh metro in Saudi Arabia, due to the harsh confinement measures decreed on the the pandemic.

Gross operating profit (EBITDA) decreased 41% compared to the previous year and reached 43.5 million euros due to lower activity in the international area and mobility restrictions in Spain. The periods of confinement in the markets in which we operate have led to a deterioration in margins, especially in the second quarter of the year.

The area's revenue portfolio decreased 6% at the end of September compared to December of the previous year to 5,286.8 million euros. The international area contracted 2%, although the recent awards obtained in recent weeks in Europe have not been included.

By type of activity, civil works in the portfolio represents 78% of the total and increased 3.1%, due to new hires in the international area, reaching 4,115 million euros.

Relevant facts

Last September, a consortium in which FCC Construcción participates was awarded the contract for the design and construction of a new hospital in Jersey. The design amounts to 26.4 million euros and an execution period of one year and a half. Subsequently, the construction phase will begin for another 550 million euros. Among other relevant works, the E6 highway in Norway was awarded for 238.8 million euros. This is the first contract obtained in the country and includes the design and construction of a new 25-kilometer section of the E6 highway, with a completion period of 47 months.

It is noteworthy that this year the design, construction and maintenance of section 2 of the Maya Train (Mexico) was also obtained, together with Carso Infraestructuras y Construcción (CICSA). The project contemplates a length of 200 kilometers, an amount close to 700 million euros and an execution period of 28 months to which is added another five years of maintenance.

FCC Construcción (95%) has been selected together with Roadbridge (5%) for the extension of the A465 motorway in Wales (United Kingdom). We will develop, for the client Future Valleys (of which FCC Concesiones is part), the doubling of the current highway, with a length of 18 kilometers. The planned investment is around 600 million euros.