The FCC Group's construction division recorded a significant 20% increase in its project portfolio, reaching €7.619 billion during the first half of the year. The international division experienced solid growth of 25%, reaching €4.9433 billion, driven mainly by the award of a new phase of the Scarborough railway project in Canada, which is part of one of the main railway infrastructure projects being developed in the country. In Spain, the portfolio rose by 10.9%, with the award of the contract for the extension of line 5 of the Madrid metro and the High Performance Centre of the Madrid ATM, among other significant projects.

During the first half of 2025, revenues remained stable, with a slight reduction of 3.9%, reaching €1,352.6 million. The initial progress of some awarded projects, including industrial projects for renewable energy and gas plants, as well as other significant international projects in rail and road infrastructure, explain the evolution of revenues. In Europe and America, turnover grew by 11.7% and 5.1% respectively, reaching €426.3 million and €291.9 million, mainly supported by progress on motorways in the United Kingdom, the Netherlands and Romania, as well as the growing contribution of projects in Toronto (Canada) and Pennsylvania (USA).

In Spain and the Middle East, turnover fell significantly due to the completion of industrial projects in Spain (photovoltaic plants in Guillena and Tagus) and the Riyadh and NEOM metro projects, both in Saudi Arabia. In Australia, turnover continues to grow due to the positive performance and growth of recently awarded projects.

The FCC Group's construction division contributed 11.2% to the FCC Group's EBITDA in the first half of 2025. Gross operating profit remained stable with a slight decrease of 7.6% to €75.8 million, with an operating margin of 5.6%, similar to the same period in 2024. This variation in the result and its contribution margin is due to the evolution of revenues and a change in the composition of the project portfolio, in line with the planning for the period.

On the other hand, the net operating profit was £41.1 million, with a similar margin evolution to EBITDA.

FCC Construcción continues to consolidate its international leadership, being recognised in various rankings. It is the fourth largest Spanish construction company internationally, leading the way in the design and construction of complex transport infrastructure projects, as well as unique sports, healthcare and cultural buildings. The company continues to grow in markets such as Europe, the Americas, the Middle East and Australia.

Milestones during the first half of 2025 in the FCC Group's construction division. FCC Construcción strengthens its portfolio in Spain and notably in Canada

In Spain, FCC Construcción is leading the consortium for the extension of Line 5 of the Madrid Metro to its international airport, with a contract value of over €180 million and a planned completion period of 36 months. Likewise, last May, the consortium in which various companies in the area participate was awarded one of the largest railway contracts of the year, for the first section of the high-speed line that will connect Castile and León with the Basque Country, with a length of 8.4 kilometres and a value of over €390 million.

In building construction, the contract to complete the Nou Mestalla stadium (Valencia), one of the country's main sports infrastructures, stands out. For its part, the area's industrial division, through a consortium it leads, will be responsible for the execution of the facilities that the Volkswagen Group will set up in its electric vehicle battery gigafactory in Sagunto (Valencia). The contract includes medium and low voltage lines for battery production, as well as other conventional electromechanical installations, together with the supply and assembly of auxiliary installations for all contractors, worth more than €90 million.

In Canada, it is worth noting that the consortium led by FCC Construcción (50%) has begun the development phase of the Scarborough Transit Connect project in Toronto, after completing the first definition phase. This contract was awarded in 2022 and extends Line 2 of the metro (Bloor-Danforth section) by nearly eight kilometres in the country's largest city, adding a total of €1.816 billion to the total portfolio for the area at the end of the first half of the year.