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FCC Group: Earnings before tax in 1999 were in excess of 64 billion pesetas


FCC Group: Earnings before tax in 1999 were in excess of 64 billion pesetas

The net consolidated turnover of the Construcciones y Contratas, S.A. (FCC) Group in 1999 amounted to 637.024 million pesetas, a 15.9% increase with respect to the previous year.

The degree of production diversification has been increased, as activities in industries other than construction account for 52.3% of the consolidated turnover, compared with 46% in 1998.

  • Construction (310.631 million pesetas)
  • Cement (72.427 million pesetas)
  • Real estate (20.626 million pesetas)
  • Grucycsa (26.080 million pesetas)
  • Intragroup operations (14.280 million pesetas)
  • Total (637.024 million pesetas)

Particularly outstanding is the excellent performance of the cement business, through Portland Valderrivas, S.A., which grew 37.7%, and of the public services area, which recorded a growth of 33.6%.

Sales abroad amounted to 64.441 million pesetas, increasing 23.6% above the previous year.

The net operating profit has increased 49.2%, from 43.598 million pesetas in 1998 to 65.033 million pesetas in 1999, and is a clear sign of the high degree of effectiveness achieved in the company's management.

Earnings before tax stood at 64.270 million pesetas, 69% more than in 1998. This figures includes the 12.082 million pesetas in extraordinary income obtained from the sale of treasury stock in January 1999.

Earnings after tax amounted to 42.127 million pesetas, compared with 25.649 billion pesetas in 1998.

Investments amounted to 163.627 million pesetas, 54% more than in the previous year. Two of the most outstanding investments during the year have been the purchase of the assets of the Vivendi Group in Spain and the acquisition of the North American cement company Giant Cement Holdings.

On 31 December, the number of people employed in the FCC Group's companies amounted to 45,141, which means that 3,067 new jobs have been created since the same date in the previous year.

The FCC Group's construction work and order book services, on the same date, stood at 1.7 trillion pesetas, 29% more than the previous year. Of the total figure, 1.3 trillion pesetas correspond to services, slightly under 400 billion pesetas to construction, and the rest to other businesses.