Page 5 - FCC-N7_eng

FCC

holds its

Annual General Meeting in Barcelona

On 1 June, FCC held its Annual General Meeting in Barcelona which approved all the items in the agenda, including the an-nual accounts for 2010, a dividend payment of 0.714 Euros per share, and the reelection of the directors.

Following the reelection of the director of Dominum Deega, represented by Esther Alcocer Koplowitz, deputy vice-chairman, and the departure of Miguel Blesa and Ro-bert Peugeot, the FCC Board of Directors now has 18 members.

The Group in fgures

In 2010, the company posted 12.114 billion sales, 4.6% lower year-on-year due to the diffcult scenario.

Baldomero Falcones, CEO and chairman of FCC remarked during the AGM that despite everything, FCC’s proftability and operating margins had increased in 2010. Last year, the Group succeeded in reducing its struc-tural and other indirect costs by 64 million Euros and was also able to streamline per-sonnel expenses.

Gross operating income (EBITDA) was 1,434 million Euros and the EBITDA mar-gin improved by 0.1 percentage point to 11.8%. Worth mentioning is the contribu-tion from the Services Division whose ope-rating income now accounts for 55% of the total.

The FCC staf is the Group’s

strength

After deducting 380 interest income from the 380 million Euro EBIT fgure, income be-fore taxes (EBT) totaled 393 million Euros. After applying tax expenses and minority interests, net proft for the year was 301 mi-llion Euros, 1.8% higher year-on-year.

Baldomero Falcones stated that in the most diffcult year of the economic crisis, the Group was able to increase its income slightly, gain market share in its international activities, improve effciency in all business areas, and keep its debt under control.

The goal is to generate 60% of sales abroad FCC’s objective is to be able to generate 60% of Group sales abroad within three