The FCC Group’s revenues increased by 8.9% in the first quarter of the year, reaching €2,181.7 million. This improvement follows a 16.7% increase in revenues at the Environment division, where business has become busier due to the acquisitions of companies in the United Kingdom, the United States and France in the first half of 2024. It also follows an increased contribution from the Water area (+10.1%), specifically in relation to concessions of the integral water cycle, together with the operation and maintenance of various infrastructures.

The FCC Group’s gross operating profit (EBITDA) was up 14.6% in the period to reach €324.4 million.

In November 2024, FCC completed the partial financial spin-off of its Real Estate and Cement businesses under the Inmocemento brand. Following this split, and because naturally these two activities have made no further contribution to the Group's earnings, the Group saw a 43.8% reduction in its net profit in the first quarter of the year, compared to the same period of 2024, a period in which these two segments contributed €35.2 million to the company's earnings.

The FCC Group’s net financial debt amounted to €3,096.2 million at 31 March, up 3.5% year on year. This item has been growing gently, given the Group’s expansion through the acquisitions mentioned earlier.

At the end of the period, the revenue backlog increased to €45,757.6 million, up 6.3% on 31 March 2024, driven by an increase in order intake across all business areas, but most notably at Construction.

First quarter milestones

Environment

• In Spain, one of the most notable developments during this period was the awarding of the Granada city contract, worth €740 million and running for a 15-year term, for solid waste collection, street cleaning and related services. Also significant in terms of volume is the renewal of the contract for the city of L'Hospitalet de Llobregat (Barcelona), which covers the management of clean points and sewer maintenance, with a backlog valued at nearly €400 million over the coming ten years. Similarly, the contracts for Bilbao (Lot 1) and Mercabilbao (Lot 2) were also renewed, with a combined portfolio of close to €268 million over the next five years, along with the RBU contract for street and beach cleaning at the Motril (Granada) eco-park, running for 12 years and worth €123 million.
• Moving across to the US platform, highlights included the successful roll-over of two of the earliest contracts secured in this market over the past ten years. Firstly, it renewed the existing project in Houston (Texas), for the management of biowaste from the city's wastewater treatment system, with a five-year term and a backlog worth $50 million. Meanwhile, Orange County (Florida) extended its MSW contract covering Zones 4 and 5, securing a seven-year agreement with a backlog worth $170 million.  
• In the United Kingdom, a notable event occurred in March with the granting of the first planning permission for a renewable power initiative stemming from the partnership between FCC Environment UK and Downing Renewable Developments. The partnership aims to roll out a substantial network of installations that repurpose non-productive assets—such as closed landfills—by giving them a renewed environmental utility. The project in question is the Energy Storage Park near Rowley Regis (West Midlands), featuring a mixed battery storage system with a capacity of up to 100 MW, capable of storing sufficient energy to power up to 300,000 homes during specific time intervals.

Water

• In Spain, the municipality of Llagosta (Barcelona) awarded FCC a contract for the supply of drinking water to the municipality for a term of 25 years, representing a backlog of €39.5 million in revenue.
• Also in relation to rollovers and extensions, and among many other smaller contracts, the management contract for the supply of water and sewerage services at the El Girasol Community (Cuenca, Spain) was extended for a further four years, for an amount of €23.3 million. Meanwhile, several contracts in Houston (Texas) were renewed, worth a total of €7.3 million.

Construction

• The consortium, headed up by FCC Construcción with a 50% stake, is now in the development phase of the Scarborough Transit Connect project in Toronto, Canada. This contract, which was awarded in 2022 and is worth around €1,900 million, envisions the extension of line 2 of the Metro (Bloor – Danforth section) by nearly eight kilometres in what is the country’s largest city.
• In Spain, the standout contracting project was the completion of the Nou Mestalla stadium in Valencia, with a 24-month term under a contract worth €194.6 million. Meanwhile, FCC is taking part in a consortium to extend Line 5 of the Madrid Metro to reach the city’s international airport, in a contract worth more than €180 million and with the work due to take 36 months to complete.
• FCC Construcción, heading up a consortium with its industrial division, has been tasked with building the infrastructure for the Volkswagen Group's electric vehicle battery plant in Sagunto (Valencia). The contract covers the medium and low voltage lines for battery production, along with a range of other conventional electromechanical installations such as PCI, PA, ventilation, extraction, nitrogen, compressed air, helium, and various gases. It also involves the supply and installation of auxiliary facilities for all contractors.

Concessions

• In the first quarter of the year, the number of users on tram lines increased by around 5% on average compared with the same period of 2024. Overall, this represents over 12 million passengers across the Company’s concession-based operations in the cities of Murcia, Parla, and Zaragoza.
• In the first quarter of 2025, work commenced on the rehabilitation and enhancement of the concession roads along Route 8 in Aragón (A-129 and A-124).
• During the quarter, the A465 main road (co-managed by FCC Concesiones, with a 42.5% stake) began partial operation between the towns of Hirwaun and Dowlais in Wales (United Kingdom). The opening to traffic of three of the five sections of the concession marks a significant milestone, following more than four years of construction work that began in October 2020. The remaining two sections are expected to enter operation in the summer of 2025.