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h e G r o u p

Esther Alcocer

Koplowitz, chairman of

the Citizen Services Group,

described 2015 as

a historical year, with

the most important

milestones being the debt

refinancing and the capital

increase that allowed

the entry of Carso as a

shareholder

Juan Béjar,

vice-chairman and CEO

of FCC, explained the

Group’s restructuring

process that gave rise to

the capital increase and

said that “there is still a

lot to be done”

refinancing debt and the capital increase,

the largest one in the company’s history,

which allowed the entry of Carso as a refe-

rence partner of the Citizen Services Group.

Alcocer Koplowitz described 2014 ass

“the most difficult year of the harshest cri-

sis in the more than 100 years’ history of

our Group”. “Despite the difficulties”, she

added”, we always had the necessary de-

termination and were fully convinced that

we took the decisions that had to be taken

and that these were the correct ones”.

On his part, Juan Béjar, vice-chairman and

CEO of FCC, explained that 2014 marked

“the end of a cycle” in which FCC consoli-

dated its restructuring process by cleaning

up its balance sheet, its financial structure,

and EBITDA. In these circumstances, the

Group is now back on the road to recovery

and growth, although he warned that “there

is still a lot to be done”.