completes
asset writedowns
in the first half
of this year
FCC, the Citizen Services Group, recorded
a loss of 607 million euro in the first half of
the year mainly as a result of the writedowns
at subsidiaries Alpine and FCC Energy. Ha-
ving completed those adjustments, the as-
set writedown process that began last year
is practically complete, and the company is
now concentrating on the accelerated exe-
cution of its strategic plan.
The income statement for the six months of
2013 reflects two exceptional circumstan-
ces: the insolvency and subsequent liqui-
dation of Alpine, FCC Construcción’s sub-
sidiary in Central and Eastern Europe, and
the value adjustment at FCC Energy as a
result of the regulatory changes implemen-
ted by the Spanish government. The com-
bined adjustments represent a loss of 570
million euro: 372 million euro at Alpine and
147.9 million euros at FCC Energy.
Losses recognised in the income statement
in the first half of 2013 do not change the
forecasts contemplated in the budget or in
FCC
h e g r o u p
