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FCC’s revenue rose
FCC Group’s revenue was up 2.2%
to 6.476 billion euros in 2015. This
improvement was due to a 9.8% growth
in revenue from international markets,
which was seen across all business areas,
particularly Water (+39.5%). FCC Industrial,
the group’s installation, service and
maintenance business, saw revenues rise
7.5%. Its EBITDA was also up 3.8% due to
collaboration and exploration of synergies
with business across FCC Group.
Conversely, turnover for the Group in Spain
fell 3.7% to 3.4078 billion euros. This was
mainly due to a 13.4% reduction in domestic
revenue for the Construction business
due to growth in international markets
[ Annual Earnings ]
2,2%
in
2015
,
Carlos M. Jarque, executive
director and CEO of FCC:
“2015 was a year of
profound change in the
operation, finance and
management areas of the
Group.”
as a consequence of the continued fall
in domestic infrastructure investment in
recent years.
FCC Group has reduced its net losses
to 46.3 million euros compared with 724
million euros last year. Had it not been for
the impact of discontinued operations
and allowances made for the sanitation
process, profits would have totalled 35.1
million euros.
Among last year’s lines of action, Carlos M.
Jarque, executive director and CEO of FCC,
said that “we have focussed on working
as a Group with synergies in strategic
aspects, new structures in different areas
and reducing costs.” The capital increase
of 709.5 million euros approved on 17
December 2015 and the debt write-off
negotiated and agreed on of at least 15%
of the so-called Tranche B, are among the
milestones of 2015.
“These operations will bolster the capital
and financial structure of the Group.
Furthermore, it will allow us to reduce debt,
strengthen Cementos Portland and harness
resources for other strategic corporate
purposes,” added Jarque. He also stated
that, “2015 was a year of profound change
in the operation, finance and management
areas of the Group.”
The gross operating profit (EBITDA) for the
Group was up 1.3% to 814.6 million euro,
despite the impact of low sales of CO2
emission rights in the Cement area. Without
the effect of these low sales of rights, the
gross operating profit would have been up
3.5%. Savings in Corporate Services also
contributed to the increase in EBITDA.
At the year-end, the Environmental
Services and full-cycle Water Management
businesses accounted for 79.3% of the
gross operating profit of the Group. The
Gross operating profit
(EBITDA) was up 1.3%
to 814.6 million euros
despite the low sale of
CO2 emission rights in
Cemento - without which
profit would have been up
3.5%