FCC Group revenue increased by 8.9% during the first quarter of the year, reaching €2,181.7 million. This increase is explained by the 16.7% rise in turnover in the Environment segment, which was strengthened following acquisitions in the United Kingdom, the United States and France in the first half of 2024; and by the contribution of the Water segment, with a 10.1% increase, driven by higher revenue from the concession business. and France in the first half of 2024; and by the contribution of the Water division, which rose by 10.1%, driven by the higher contribution from the integrated cycle concession business, together with the operation and maintenance of various infrastructure assets.

The Group's EBITDA grew by 14.6% to €324.4 million in the period.

It should be noted that in November 2024, FCC completed the partial financial spin-off of its Real Estate and Cement businesses under the Inmocemento brand. Following this operation and due to the lack of contribution from these two activities, the Group's net profit fell by 43.8% in the first quarter of the year compared to the same period in 2024, when these two spun-off areas contributed €35.2 million to the company.

The FCC Group's net financial debt stood at 3,096.2 million euros at 31 March, representing an increase of 3.5% compared to the same date last year. The slight growth in this item is noteworthy considering the Group's expansion through the aforementioned acquisitions.

At the end of the period, the revenue portfolio grew to €45,757.6 million, up 6.3% compared to the end of the first three months of 2024. This result is supported by increased contracting in all business areas, particularly in the Construction business.

First quarter highlights

Environment

• In Spain, new contracts in the field of solid waste collection, street cleaning and other associated services included the award of the contract for the city of Granada, with a budget of €740 million and a duration of 15 years. Also noteworthy for its size is the renewal of the contract with the city of L'Hospitalet de Llobregat (Barcelona), which includes the management of recycling centres and sewerage maintenance in the city, with a portfolio of almost €400 million for the next ten years. Similarly, the contracts for Bilbao (lot 1) and Mercabilbao (lot 2) were renewed, with a portfolio of nearly €268 million for the next five years, as well as the contract for RBU, street cleaning and beach cleaning at the Motril eco-park (Granada) for 12 years, worth €123 million.
• In the US, it is worth mentioning the renewal of two of the first contracts obtained in this market in the last decade. On the one hand, the contract in Houston (Texas), which covers the management of biowaste from the city's wastewater treatment system, with a portfolio of 50 million dollars and a duration of 5 years. On the other hand, Orange County (Florida) renewed its MSW contract (zones 4 and 5), with a duration of seven years and a portfolio of $170 million. 
• In the United Kingdom, last March, the first planning permission was obtained for a renewable energy project by the alliance between FCC Environment UK and Downing Renewable Developments. The collaboration aims to deploy a significant portfolio of facilities to give a second life and environmental use to assets that are no longer productive, such as closed landfills. In this case, it is the Energy Storage Park near Rowley Regis (West Midlands), with a battery storage facility with a capacity of up to 100 MW that will store enough energy to supply up to 300,000 homes at certain times.

Water

• In Spain, the City Council of Llagosta (Barcelona) awarded a 25-year contract for the municipality's drinking water supply service, representing a revenue portfolio of €39.5 million.
• Also, in the area of renewals and extensions, among many other smaller contracts, the contract for the management of the water supply and sewerage service in the El Girasol Community (Cuenca, Spain) stands out, for another four years and worth £23.3 million, as well as the extension of various contracts in Houston (Texas), worth £7.3 million.

Construction

• The consortium led by FCC Construcción with a 50% stake in Toronto (Canada) has begun the development phase of the Scarborough Transit Connect project. This contract, which was awarded in 2022 for around €1.9 billion, extends line 2 of the metro (Bloor-Danforth section) by around eight kilometres in the country's largest city.
• In Spain, the contract to complete the Nou Mestalla stadium (Valencia) stands out, with a duration of 24 months and a budget of €194.6 million. In addition, FCC is participating in a consortium for the extension of Line 5 of the Madrid Metro to its International Airport, for an amount exceeding €180 million and with a planned execution period of 36 months.
• FCC Construcción, through a consortium led by its industrial division, will be responsible for the construction of the facilities that the Volkswagen Group will set up at its electric vehicle battery gigafactory in Sagunto (Valencia). The contract covers the medium and low voltage lines for battery production, as well as other conventional electromechanical installations (PCI, public address system, ventilation, extraction, nitrogen, compressed air, helium and other gases), together with the supply and assembly of auxiliary installations for all contractors.

Concessions

• In the first quarter of the year, the number of users on tram networks grew by an average of around 5% compared to the same period last year. Overall, this represents more than 12 million passengers on the concession networks in the cities of Murcia, Parla and Zaragoza.
• In this first quarter, work began on the refurbishment and improvement of the roads in the Itinerary 8 concession in Aragon (A-129 and A-124).
• During the quarter, the A465 motorway (co-managed by FCC Concesiones, with a 42.5% stake) between Hirwaun and Dowlais in Wales (United Kingdom) became partially operational. The opening to traffic of three of the five sections into which the concession is divided is a major milestone, after more than four years of construction work, which began in October 2020. The remaining two sections are expected to come into operation in the summer of 2025.