Grupo FCC: net profits up by 14.6% (ES)

The revenues of Grupo Fomento de Construcciones y Contratas, S.A. (FCC) during the first nine months of 2004 totalled € 4,631.9 million, which represents an increase of 3.5% in comparison to the same period last year. This increase comes as a result of the evolution of the Group´s activities in Spain (+4.5%).

The portfolio of construction work and services on order as of 30 September 2004 was a record € 16,176.6 million, which represents a 3.9% increase over the same date in 2003. Within this portfolio, the part referring exclusively to the Group´s construction activity is notable for its growth of 13.2% to € 4,018.3 million. This figure represents an increase of more than one month´s business compared to the same figure last year.

The gross operating profit (EBITDA) was € 617.2 million with an increase of 5.1% compared to the first three quarters of 2003. This growth represents a rise in the sales margin of 0.2%, bringing it to 13.3%.

The profits before taxes grew by 8.6% to € 432.9 million and the net profit, after deducting taxes and minority shareholders, was € 265.8 million, 14.6% more than the same period last year. This increase raised the net production margin by 0.5%, to 5.7% compared to its previous 5.2%.

Cash flow increased by 15.4% to € 538.7 million.

During the first nine months of the year the companies of the FCC Group made financial and fixed asset investments in the amount of € 343,100 billion.

Source: FCC

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