MADRID, 24 Apr. (EUROPA PRESS) – FCC obtained net attributable profit of 96.9 million euros in the first quarter of the year, a figure 13.9% higher than that of the same period in 2022, the group reported on Monday.
FCC’s gross operating result (Ebitda) reached 332.1 million euros between January and March, which represents an increase of 19.3% compared to the first quarter of the previous year.
The company has explained that its quarterly Ebitda has been supported by the good evolution of revenues, especially in the Cement and Construction areas, due to the high increase in activity in the first quarter of the year.
The group has attributed the lower growth of its net profit compared to Ebitda to the lower contribution in the variation of the exchange rate registered in this period compared to the first quarter of 2022 and to the higher tax rate accrued between January and March of this year.
The company has also explained that the impact of the moderation in energy costs is counterbalanced by the effect of lower recovery of provisions in the Water area and of certain planned stoppages of activity in the Environment area.
All in all, FCC has highlighted that its gross operating margin stood at 16.4%, similar to the 16.6% of the previous year.
THE CONSTRUCTION DIVISION BOOSTS THE GROUP’S TURNOVER
FCC’s turnover amounted to 2,026.7 million euros in the first quarter, representing an increase of 21.2% compared to the same period in 2022, due to the “good performance” of all the businesses, especially the Construction area, which grew by 55.7%.
At the end of the quarter, FCC’s net worth reached 5,066.2 million euros, 2.6% higher than that registered in the same period of 2022.
The group’s net financial debt closed March at 3,417.4 million euros, with an increase of 7% compared to December 2022, largely explained by the application of working capital.
The group’s revenue portfolio stood at 42,073.8 million euros at the end of the first quarter, which represents an increase of 4.5% compared to the same date of the previous year, thanks to the contribution of the Water area, followed by that of the Environment area.
By geographical area, in Spain, revenue grew by 7.2%, to 494.4 million euros, due to the contribution of new contracts in the waste collection and street cleaning activities, and to a lesser extent, to ” good behavior” in the treatment activity.
In the United Kingdom, FCC’s turnover grew by 3.1%, to 187.2 million euros, while in Central Europe the group’s revenues fell by 1.7%, to 141.8 million euros.
Lastly, revenues in the United States and other markets increased by 91%, reaching 89 million euros, due to the contribution of new contracts in the collection and treatment activities, mainly in the markets of Florida, Texas and California.
