Revenues from the FCC Group's construction area grow by almost 50% during the first half of 2023
Revenues from the construction area of the FCC Group grow by almost 50% during the first half of 2023, compared to the results obtained in the same period in 2022. The turnover during the first six months of 2023 reached 1,282.3 million euros, due to the sustained good pace of execution in ongoing projects together with the new ones obtained throughout the past year, mainly in America and various European countries.
By geographical area, in Spain revenues increased by 35.9%, to 535.5 million euros, with a good rate of progress in all the works in progress and the start-up of new ones, mostly in the public sphere.
In the same sense, in the rest of Europe and other markets, turnover grew by 42.1% compared to the previous year and reached 276.9 million euros, mainly due to the progress of the A-9 motorway in the Netherlands and A-465. in Wales (United Kingdom), which more than compensate for the completion of other works, such as the Haren prison in Belgium, which has become one of the largest infrastructure projects in Brussels. In America, the turnover grew significantly to 396.9 million euros, largely supported by the greater contribution of the Mayan Train project in Mexico and the start of railway works in Toronto (Canada) and the rehabilitation of various bridges in the state of Pennsylvania (USA), together with the sustained progress of others such as the Lima Metro and progress in the Guillermo Gaviria Tunnel projects in Colombia or the Industrial Bridge and Mapocho Rio in Chile.
The gross operating result (EBITDA) increased by 37% to 76.9 million euros compared to the 56.1 million euros obtained in the first half of 2022. This increase is based on the evolution of income.
For its part, the registered net operating result was 53.4 million euros, 30.9% higher than in 2022, reflecting the evolution at the level of gross operating result and the higher depreciation of machinery relative to the higher level of activity.
The income portfolio during the first half of 2023 fell by 7.3%, to 6,106.5 million euros. The international sphere concentrated a reduction of 13.5%, after the strong cumulative increase in hiring in the previous year. For its part, Spain maintained a sustained recovery, with an 8.9% increase, mainly explained by the award of new works, among which the construction of the new ONCE headquarters stands out.
The construction area contributed 10.5% of the FCC Group's EBITDA at the end of the period. By type of activity, civil works continues to dominate, with 81.4% of the total, which is concentrated in large public contracts in certain selective markets in Europe, America and the Middle East.