FCC's net profit up by 22,1% in H1 2004 (ES)

The consolidated net revenues of Fomento de Construcciones y Contratas, S.A. (FCC) during the first half of the year were € 3,035 million, an increase of 4.2% over the same period last year.

The increase in turnover is the result of the positive evolution of all of the Group´s strategic areas: Services (+5.6%), Construction (+ 3.2%) and Cement (+5.5%).

The portfolio of construction work and services as of 30 June was € 15,891.6 million, a figure that is slightly higher than last year´s. Notable within this figure was an 8.7% increase in the construction portfolio.

Gross operating profits (EBITDA) increased by 7.4% to € 400.8 million. The sales margin stood at 13.2%, compared to 12.8% one year ago.

The ordinary results were € 269.6 million which represents an increase of 11.6%, while the profits before taxes (BAI) were € 294.9 million, an increase of 18.2%.

The net profit after minority shareholders grew by 22.1% over the same period last year to € 186.5 million. This increase means that the net sales margin was 6.1%, compared to 5.2% one year ago.

At € 348 million, cash flow during the first six months of the year was noteworthy with an increase of 24.3%.

Investments during the first half of the year amounted to € 253.7 million and the average number of employees was 63,051, which means that 1,261 jobs have been created so far this year.

Source: FCC

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