In the first quarter of 2026, the FCC Group’s revenue reached 2,398.8 million euros, up 10% on the same period of the previous year. This growth reflects the strong performance across the business areas, particularly the Construction division, further supported by the contribution from acquisitions completed in 2025 in the Environment division, both in the United Kingdom and the United States.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 6.5% in the first three months of the year to 345.5 million euros. The Group’s gross operating margin stood at 14.4%, slightly lower than the figure for the same period of the previous year, reflecting the greater contribution made by the Construction division, which operates with lower margins than the Group’s utilities businesses.

FCC reported a 11.9% increase in attributable net profit to €65.8 million, driven by the solid contribution from all business areas. The movement in the euro exchange rate against various currencies made a positive contribution to this result, generating a favourable impact of €28.2 million under the heading ‘Other financial income’.

Equity increased by 2.7% to 4,871.5 million euros, driven by the Group’s higher profit in the quarter.

The FCC Group’s revenue portfolio stood at €54,176.7 million in the first quarter, representing a 5% increase compared with the end of the same period last year. This growth was driven by the End-to-end Water Cycle business division.

Milestones

Environment

In Spain, there have been a number of notable contract renewals and new contract awards in the waste collection sector: 

• Barcelona City Council has renewed FCC Medio Ambiente’s contract for the cleaning and maintenance of the city’s sewerage network. The contract is valued at €121 million over an initial eight-year term, with a potential two-year extension. This latest renewal cements a bond of trust with FCC Medio Ambiente that dates back to 1911. Additionally, the Group secured the municipal waste collection and transport contract in Figueres (Catalonia), adding €35.2 million to the backlog over an eight-year term and serving a population of 50,000. Furthermore, Parla Town Council has once again awarded the contract for municipal solid waste collection, street cleaning and the management of recycling centres to the temporary consortium formed by FCC Medio Ambiente. The contract represents an attributable backlog of €75.8 million over the next 11 years and involves an investment of €10 million.
• In the US, FCC Environmental Services, a subsidiary of FCCenviro and one of the largest comprehensive waste management and recycling companies in the United States, has renewed its household waste collection and recycling contract for Palm Beach County (Service Area 4). Originally awarded in 2019, this new seven-year agreement will commence in October 2026 and represents a $130 million addition to the Group’s revenue backlog.
• The Group strengthened its waste treatment operations in February with the 14-year contract for the El Puerto de Santa María recovery and recycling centre, adding €62.7 million to the revenue backlog.

Water

• FCC Aqualia has reaffirmed its international leadership after receiving an award at the National Water Company (NWC) Partners Forum in Saudi Arabia. This high-level summit, which brings together the leading stakeholders in the country’s water sector, serves as a platform to highlight the most significant contributions aimed at improving efficiency and transforming the nation’s water cycle.
• The accolade, in the Best MOMC (Management, Operation and Maintenance Contract) category, highlights the technical expertise, operational capacity, and reliability demonstrated by FCC Aqualia in its regional projects. Through the implementation of sustainable management models and cutting-edge technologies, the Group has aligned itself with the transformation of the Saudi market, reinforcing its status as a key partner in the delivery of the ambitious national water agenda.
• In the first quarter, a number of contract extensions and renewals were secured in Spain, where the win rate in this segment remains above 90%. These agreements represent an aggregate value of over €60 million, notably including a €24.2 million extension in Santa Marta de Tormes and the renewal of the water supply, sewerage, wastewater treatment, and ancillary works contract for the municipality of Sant Joan de Labritja (Balearic Islands), valued at €17.5 million.

Construction

• In February, the consortium led by FCC Construcción secured a contract worth over €735 million for the construction of the third runway at Riyadh International Airport, including all associated ancillary infrastructures. The project has an estimated construction period of 3.5 years and contributes over €400 million to the Group’s attributable backlog. 
• In the Spanish civil engineering sector, notable awards include the Arco Norte de Murcia and a section upgrade of the A-4 motorway—with a combined value of €125 million. Additionally, the Group is part of the winning consortium for a €135.8 million contract to construct 11.8 kilometres of double-track railway in Catalonia (Cambrils to Vila-seca Adif station), featuring eleven stops, including two interchanges.
• A landmark project of particular significance is the consortium involving FCC Construcción, which in March secured a €174 million contract for the design and construction of IFMIF-DONES. This particle accelerator, to be built in Escúzar (Granada), will facilitate fusion energy research, driving the transition toward a new model of clean, limitless energy—harnessing the same processes that power the stars.

Concessions

• In the first quarter, passenger numbers exceeded 12 million across all urban transport concessions in the cities of Murcia, Parla and Zaragoza. 
• On road concessions, traffic volumes have risen by between 1% at Ibisan and 7.6% at Auconsa.
• Work on the Route 8 motorway concession in Aragón is progressing, with 60% of the work completed by the end of the period.