The consolidated net turnover of Fomento de Construcciones y Contratas, S.A. (FCC) during the first half of the year was 3,308.9 million euros which represents an increase of 7.8% compared to the same period last year.
This rise in revenues was due to the positive evolution of all strategic areas of the Group: Services (+14.3%), Construction (+ 3.1%) and Cement (+6.4%)
The geographical distribution of sales demonstrates the good performance of the domestic market, which was up by 7.5%, as well as the international market where revenues increased by 11%. International business currently accounts for 9.2% of the total. Of this percentage, 46% comes from Europe, 31% from the United States and 23% from Latin America.
Sales by Activity (millions of euros)
| |
30/06/05 |
30/06/04 |
% change |
% Total |
| Public services |
1.289,3 |
1.127,9 |
14,3 |
39,0 |
| Construction |
1.555,4 |
1.507,8 |
3,1 |
47,0 |
| Cement |
472,1 |
443,8 |
6,4 |
14,3 |
| Torre Picasso |
12,0 |
10,6 |
13,2 |
0,4 |
| Intragroup Eliminations |
(19,9) |
(21,6) |
|
-0,6 |
| TOTAL |
3.308,9 |
3.068,5 |
7,8 |
100 |
As of 30 June, the portfolio of construction and service contracts had reached a record high of 18,781.5 million euros, 18.9% higher than on the same date the year before. The total amount includes a notable increase of 23.2% in the construction area.
The gross operating profit (EBITDA) increased by 12.8% to 453.7 million euros. The sales margin was 13.7%, up 0.6 percentage points over the year before.
The profit before taxes totalled 323.8 million euros, an increase of 13.2% and the net profit was 193 million euros, 12.7% higher than the year before. This increase signifies a 0.3 percentage point increase in the net sales margin, which went from 5.5% to 5.8%.
Cash flow during the first six months of the year totalled 347.8 million euros, which represents an increase of 12.4%.
The Group invested a total of 335.6 million euros during the first half of the year, which is 32.3% more than the first six months last year.
The Group's net indebtedness as of 30 June was 409 million euros, which is down by 29.8%. The leveraging rate was 13.8% compared to 20% for the same period last year.
