The Group invested 361 million euros, 148 million of which relate to the contributions made to Alpine before it declared receivership. The remaining
investments were earmarked for the Environment and Water activities.
corporate income tax (+50.6 million euro,
due to a tax credit), net losses at FCC Ener-
gy (-147.9 million euro, due to the succes-
sive regulatory changes implemented by
the Spanish government), other assets re-
classified as discontinued operations (-50.1
million euro), and writing off Alpine (-372
million euro).
Group Capex was 361 million euro, of
which 148 corresponds to injections at Al-
pine prior to its declaration of insolvency.
The remainder was maintenance Capex for
the Environment and Water businesses.
In line with the leverage target contem-
plated in the strategic plan, net interest-
bearing debt declined by 433 million euro,
i.e. 6.1% with respect to December 2012.
The 6.654 billion euro in debt does not yet
reflect the effects of the main divestments
in the first half (50% of Proactiva, for 150
million euro; 49% of the Czech water busi-
ness, for 97 million euro).
Those two operations, together with the
disposal of FCC Construcción real estate
assets and the reduction of the debt due
to the deconsolidation of Alpine, represent
nearly 1 billion euro in total divestments.
All these divestment processes are under
way at present, and the programme is ex-
pected to be completed by year-end or
in the first half of 2014 at the latest. Debt
amounted to less than 5 billion euro as a
result of divestments and cash flow.
In addition to the positive debt performance
backlog expanded to 32.935 billion euro at
the end of the first half, i.e. 6.6% more than
in the same period in 2012. Order intake
increased in the three business areas, es-
pecially in Environmental Services, guaran-
teeing more than 3.5 years’ work.
h e g r o u p
