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The Construction area of FCC Group increases the revenue portfolio by 3.7% in the first half of the year compared to the same period in 2019

29/07/2020

The Construction area of FCC Group increases the revenue portfolio by 3.7% in the first half of the year compared to the same period in 2019

The construction area of the FCC Group has reported revenues in the first half of 2020 of 675.3 million euros, despite the slower pace of execution of ongoing projects in the international arena, mainly in Latin America and the Middle East, which have been impacted directly due to the health crisis caused by COVID-19. The good contribution of contracts under development in Spain stands out.

By geographical area, in Spain the turnover increased by 25.8%, to 370.1 million euros, due to the good pace of execution in new contracts obtained throughout the previous year, among which the remodeling of the Real Madrid football stadium and the Loeches environmental treatment complex. In the Middle East and Africa, revenues stood at 122.7 million euros, due to the slower pace of activity registered in the construction works of the Riyadh metro in Saudi Arabia, mainly from the second half of March after the hard confinement measures decreed in the country since that date.

In Europe and other markets, the turnover grew 33.2% compared to the first half of the previous year to 143.1 million euros, thanks to increased activity in projects started in EU countries such as Ireland, the A-9 motorway in the Netherlands or the Haren complex in Belgium, where as in Spain the activity has suffered less disruption than in other jurisdictions.

The gross operating profit (EBITDA) reached 17.4 million euros compared to € 46.8M in the same period of 2019, impacted by the temporary interruption of the projects as a result of the sanitary restrictions of COVID-19 and inefficiencies in the supply chain.

The area's income portfolio increased by 3.7% in the first half of the year compared to the end of the previous year, reaching 5,833.2 million euros. The decrease in Spain is offset by an increase in the international area of 10.2% to 3,981.2 million euros, thanks to the incorporation of new contracts in Mexico and Norway.

By type of activity, civil works in portfolio represents 73.6% of the total and increased 7.6%, due to new hires in the international area reaching 4,295.6 million euros.

Relevant facts

  • Section 2 of the Maya Train: FCC Construcción together with Carso Infraestructuras y Construcción (CICSA), has managed to obtain the contract for the design, construction and maintenance of section 2 of the Maya Train in Mexico, with a length of 200 kilometers in the state of Campeche . The contract has an amount of more than 700 million euros and a term of execution of 28 months to which are added another five years of maintenance. This project is in addition to the many that it has in this infrastructure specialty, with more than 2,600 kilometers of railways currently underway.
  • Award of the E6 Norway section. During the semester, the award of a motorway in Norway was obtained for 253 million euros. This is the first contract obtained in the country and includes the design and construction of a section of the E6, with 25 kilometers of new layout and an execution period of 47 months. Thus, at the end of the first semester the international portfolio of the area grew by 10.2% compared to the end of 2019, with which the total portfolio increased by 3.7%, with 5,833.2 million euros.
  • FCC has been designated as “preferred bidder” for the expansion of the A465 motorway in Wales (United Kingdom). FCC is part of the Future Valleys consortium together with other local and international partners. The project, developed under the PPP model, consists of the splitting of the current highway, with a length of 18 kilometers and is relevant to improve connectivity and development in the region, with a planned investment of over 600 million euros.