The construction area of the FCC group increases income more than 18% in 2022
The income of the construction area has increased by 18.5% to 1,966.9 million euros in exercise 2022. By geographical areas, in Spain the business figure was reduced 1.7%, up to 870.1 million euros. In Europe and other markets the business figure grew by 19.7% compared to the previous year and reached 501.7 million euros, mainly due to the development of the A-9 highway in Holland and A-465 in Wales (United Kingdom) , which compensate for the lower contribution of other works, such as the Haren Penitentiary Center in Belgium, already completed.
In America the business figure grew significantly up to 434.2 million euros, 107.1% more about the previous year, largely supported by the largest contribution of the Mayan Train project in Mexico, along with the sustained progress of works such as the Toyo tunnel in Colombia, the Lima Metro in Peru and the beginning of the RER-3 in Toronto (Canada).
The Middle East projects have allowed an expansion of the company's income of 7.6%, to 156.7 million euros. It highlights the work of the Riad Metro, which has extended its completion until April 2024, derived from an additional contracting for FCC construction exceeding 200 million euros, which will be added with the greatest activity in the future, the recent and relevant award of a railway tunnel in the Neom region, in the northwest of the country.
The construction area contributes almost 10% of the EBITDA of the FCC group at the end of the year, increasing the gross exploitation result by 19.7% to 122.8 million euros compared to 102.6 million euros of the last year. This increase is based on the evolution of income together with upward regularizations in the margin of the degree of progress in certain international projects. In this way, the gross operating margin in the 2022 exercise has reached 6.2%.
On the other hand, the net result of registered exploitation was 89.4 million euros compared to 71.1 million euros of the previous year, a reflection of the positive evolution of the construction area.
As for the income portfolio, it increased significantly at the end of December to 6,586 million euros, a highlight of 65.4%. The portfolio has increased in a general way, but more accused in the international area due fundamentally to the new signed contracts such as the Neom Tunnel in Saudi Arabia, that of the Sotra bridge in Norway, the new railway contracts in Romania and the phase Initial of the RER-3 project in Canada, in addition to the increases in the scope of the Riad Metro and the Mayan Train in Mexico.