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March. This transaction made it possible
to reduce the Tranche B debt with a 15%
haircut, strengthen Cementos Portland’s
capital structure and restructure its fun-
ding, reduce leverage, and enhance the
Group’s debt profile and capital structure.
Jarque also described the divestments
performed in 2015 and early in 2016, debt
collection and outstanding claims, new
contracts, and the high rate of contract
renewal.
Better results
As for operations, the CEO emphasised
the synergies between the business units,
cost cutting, centralised procurement —
which saved €34 million in 2015 — and
the implementation of new organisation
structures, among other initiatives.
Referring to governance, Jarque descri-
bed the changes in the Group’s owners-
hip structure, the takeover bid by Grupo
Carso for 100% of FCC and the delisting
takeover bid for Cementos Portland. “All
these measures will be reflected in the fi-
nancial results, as seen in recent months,”
concluded the Group’s CEO.
He also discussed the milestones in the
business areas in 2015. They include the
award to FCC Aqualia of the Abu Rawash
wastewater treatment plant in Egypt, the
Water division’s largest-ever contract,
worth €2.4 billion; the construction of the
Toyo tunnel in Colombia, for €392 million,
and the construction and operation, for 15
years, of a waste recycling plant in Dallas,
under a contract worth up to €270 million,
which as awarded to FCC Environment.
Watch the attached files:
Speech of Esther Alcocer Koplowitz,
Chair of FCC
Report of Carlos M. Jarque, CEO of FCC