The FCC Group’s construction division has seen its revenue rise by 29.9 per cent to €1,757.5 million during the first half of 2026. This growth in revenue is attributable to the contribution of new projects in the portfolio, notably railway and sports infrastructure projects, both international and domestic. By geographical region, revenue in Spain rose by 43.6 per cent to €812.9 million, driven by the greater progress made on the Nou Mestalla (Valencia) project, various power station projects and new photovoltaic plants recently added to the portfolio.

In Europe, revenue fell by 11.4 per cent to 377.8 million euros due to the progress of projects. In the Americas, turnover reached €427.3 million, representing a 46.4 per cent increase on the previous year, thanks to the growing contribution from railway works in Toronto (Canada), as well as in Pennsylvania and New York (United States). Finally, in the Middle East and Australia, there was remarkable growth of 103.9 per cent to €139.5 million, driven primarily by progress on the Qiddiya stadium and a social housing project in Australia.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 20.2% to 91.1 million euros, with an operating margin of 5.2%, down from 5.6% the previous year. This change in earnings and the contribution margin is due to the trend in revenue and a shift in the composition of the project portfolio, in line with the planned strategy for the period.

Meanwhile, net operating profit stood at €68.6 million, representing a 34.2% increase compared with the previous period, with lower depreciation and amortisation allowing for a greater rise in EBITDA.

At the end of the first half of the year, the project portfolio fell by 4.5% compared with December 2025, standing at €9,150.8 million. This reduction was due to a slowdown in the pace of new contract awards, following the sharp increase recorded over the whole of the previous financial year (+50.5% compared with 2024). Internationally, the order book fell by 4.8 per cent to €6,516.0 million. Meanwhile, the domestic order book recorded a decrease of 3.7 per cent, as a result of the completion of several contracts.

At the end of the period, by type of activity, civil engineering continued to be the dominant sector, accounting for 73.1 per cent of the total portfolio, which is concentrated on major public contracts in certain select markets in Europe and the Americas.