Revenues from the construction area of the FCC Group increase by 55.7% in the first quarter of 2023
Revenues from the construction area have grown by 55.7%, reaching 564 million euros during the first quarter of 2023. The start of new projects awarded together with the good pace of projects and activities in all countries in which which it operates explains the positive behavior of revenues.
By geographical area, in Spain turnover stood at 249.2 million euros, an increase of 26.6%. In America, revenues increased by a remarkable 212.6% to 166.6 million euros, which is mainly explained by the greater contribution of the construction of the Mayan Train in Mexico, as well as other projects, such as the Scarborough Subway in Canada or the bridge construction project in Pennsylvania, USA.
In Europe, turnover grew by 39.6%, with 115 million euros, an increase mainly due to the greater contribution of the highway projects in the Netherlands and the United Kingdom (A-9 and A 465, respectively), which offset the completion of other projects, such as the Haren prison in Belgium. For its part, the Middle East registered an increase of 11.4% to 33.2 million euros, which is due to the advanced state of the expansion works for the Riyadh Metro in Saudi Arabia.
The gross operating result reflected the increase in income to reach 33.8 million euros, with an increase of 55.8% compared to the first quarter of 2022. Its behavior is assimilated to that commented on income, mainly linked to the greater execution than expected in certain international projects, such as the Mayan Train in Mexico. The operating margin remains stable, standing at 6.0%, the same level as in the first quarter of the previous year.
For its part, the income portfolio at the end of March was 6,308.8 million euros. In Spain, there was a slight progress in contracting, supported by an increase in the installation and improvement of public service networks. In contrast, in international there were no new contracts in the period, and the area is in advanced stages of bidding processes for important international works.