FCC registered earnings of 6.2 million Euros in the first term of 2015 in comparison to the 31 million Euro loss recorded the year before. It is the first time in the last 10 quarters that FCC has registered a profit, importantly this comes at what is seasonally FCC’s lowest quarter for growth.

The earnings before interest, tax, depreciation and amortisation (Ebitda) increased to 169.3 million euros in this period, which means an increase of 0.6% in spite of the negative impact of not selling CO2 emission rights.

The earnings before interest and tax (Ebit) registered an increase of 2% inter annually, up to 70.9 million Euros, supported by the increase of the gross profit and a smaller amount for the amortization of fixed assets, similar to the reduction of the basic fixed assets of the Group.

Water and environmental services re-launch income

The consolidated income of the Group has increased by 3.1% year on year in the first term of 2015, reaching up to 1.482,4 million Euros. This result is primarily explained by the increase of 10.9% in the invoicing from international markets, especially in the fields of Water Comprehension Management and Environmental Services.

Concrete sales in Spain during the first term show an year on year increase of 13.1% after six years of continuous decrease whilst the Construction Area, more closely linked to the domestic cycle of investment in infrastructures, shows a clear improvement in the term. Although the income in the field in Spain still relinquishes 3.7% inter annually, the rhythm of adjustment is improving considerably in comparison to an accumulated fall of 28% in 2014.

The Company’s portfolio is increasing smoothly (0.4% in comparison to the closure of 2014), up to 33.1154 billion euros, due to the increase in the Environmental Services division.

The financial debt has gone down to 5.6512 billion euros, which supposes an increase of 635.2 million euros in respect to the end of 2014. This evolution is a consequence primarily due to the seasonal capital expansion circulation and the negative impact of the type of change. For its part, the financial net costs are reduced by 21.9% thanks to the reinforcement of the capital structure finalised the previous year.

This quarter’s results stand out given the fact that the assets and debit side of the residual activity in Versia (Cemusa) are classified as “maintained for sale” from 30th June 2013, awaiting the perfection of the sales agreement. In the same way, the corresponding ones to the shares in Globalvía have been registered from 31st December 2013. Therefore, the result is collected in the corresponding record: “results of discontinued activities”. Likewise, Realia has reclassified itself as an ongoing activity since last 31st December.