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FCC: Net profits up 16.7%

25/02/2003

FCC: Net profits up 16.7%

FCC's turnover during the first quarter of this year was 1,349 million euros, which represents increase of 10.1% over the same period last year.

The good performance of turnover is basically due to increased business in the construction (+ 14.8%) and service (+10.6%) areas.

(in millions of euros)
% OF SALES
DEC-02 DEC-01 % CHANGE DEC-02
Public services 472,3 426,8 10,6 34,4
Construction 655,0 570,5 14,8 47,6
Cement 188,1 189,7 -0,8 13,7
Grucycsa 56,2 48,0 17,1 4,1
Torre Picasso 3,8 4,1 -7,3 0,3
Intragroup -26,1 -13,7 90,5  
TOTAL 1.349,3 1.225,4 10,1 100,0

Ordinary profits were 104 million euros, with a 12.2% increase over the previous fiscal year. The notably strong growth in profits is primarily due to the equivalency method used to carry the 19.4 million contribution by Realia.

Before tax profits were 106.6 million euros, which represents an increase of 8.9% in relation to the first quarter of last year.

Net profits, after deducting taxes and the portion attributable to minority shareholders, were 67.9 million euros, 16.7% more than the year before. The sales margin is therefore 5%, compared to 4.7% for the first quarter of last year.

A total of 109.6 million euros was invested.

As of 31 March of this year, the portfolio of construction and services pending execution by companies of the FCC Group amounted to a record total of 15,643.8 million euros, which represents a growth of 10% over the same date last year.