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Grupo FCC: Net Profits up by 15.2%


Grupo FCC: Net Profits up by 15.2%

Sales increased 10.8%

Madrid, 11 November 2003. The net turnover of Grupo Fomento de Construcciones y Contratas, S.A. (FCC) for the first nine months of 2003 was 4.5 billion euros, which represents a 10.8% increase compared to the year before. This increase was possible thanks to the excellent results of the Group's activities in Spain (+15,6%), where all strategic areas grew at a hearty pace: Services (+16.5%), Construction (+17.9%) and Cement (+11.1%)

Turnover by Activity (in millions of euros)
  Sep-03 Sep-02 % change
Services 1.539,0 1.376,4 11,8
Construction 2.173,3 1.912,1 13,7
Cement 652,8 640,4 1,9
Other 187,9 171,0 9,8
Intragroup Eliminations (79,0) (62,7)  
TOTAL 4.474,0 4.037,2 10,8

The portfolio of pending construction work and services as of 30 September reached a record high of 15.6 billion euros, a 6.1% increase over the same date the year before.

The gross operating profit (EBITDA) was 587.2 million euros, a 5.9% increase compared to the first three quarters of 2002. It is worth noting that EBITDA increased by 12.2% during the third quarter compared to the same period the year before, accentuating the year's upward trend. The sales margin was 13.1.

Profits before taxes rose by 14% to 398.6 million euros and the net profit, after deductions for taxes and minority shareholders, was 232 million euros, 15,2% more than the same period last year.

During the first nine months of the year, the companies of the FCC Group made financial investments and fixed asset investments valued at 453.3 million euros.