The FCC received a net profit of 139 million euros in the first quarter of the year, nearly five times what was achieved in the same quarter of 2020, driven by the sale of various infrastructure concessions and exchange rate development. The company’s sales grew 2.1% to 1,516 million thanks to the good development of the business lines that were less affected by the epidemic. The huge result, Which represents nearly half of the profits for the whole of 2020The company said in a statement that it had a relationship with the sale agreed in October for its participation in three concessions in Spain “within the framework of the rotation policy and selective development of projects.”
The company highlights the improvement Produced in those commercial areas Which was less affected by measures to reduce mobility and “continuous monitoring of costs and expenses”, which led to a growth in gross operating profit of 16.5% to 254 million. “This positive result is mainly explained by the improvement in the operational margin that was achieved in the group’s business areas, to which the saving of 20 million euros, included in the same period of the previous year, is added to the prevention and control of the negative effects it caused. In the epidemic, it was reversed later.” Without this adjustment, EBITDA increased by 6.7%.
The debt, which stood at 2,613 million in March, decreased 6.6% compared to the same period last year. The business portfolio of the group headed by Mexican Carlos Slim, one of the richest men in the world, stands at nearly 30,000 million after the increase in employment in environmental areas in the United States.
In Spain, among other landmarks, the FCC is highlighting a $ 397 million contract for waste management in Tenerife for a period of 15 years or awarding a clean-up contract in Barcelona. Aquallia, through its Saudi subsidiary Haaisco, has won another contract to operate and maintain the desalination plant in Jizan Industrial Area (Jizan City for Primary and Downstream Industries), in the far southwest of Saudi Arabia.
The company does not want to be excluded from projects that opt for next-generation EU recovery funds, according to director of markets, Miguel Coronel, who confirmed at a conference with analysts that they would present projects in half of the business areas identified by the government. Specifically, these are the work of home rehabilitation, mobility, water, circular economy, material recovery or promotion of vital waste, as well as for pushing environmental vehicles for garbage collection.
“We have a fairly broad potential for more than 50% of the 70 billion euros included in the plan, after we have identified very clear positions in six or seven tractor programs,” Coronel said in statements compiled by Servimedia. We hope this is a blessing upon their arrival and the effect should be positive.