The FCC Group, which is controlled by Mexican tycoon Carlos Slim, earned 97 million euros in the first quarter of this year, 14% more than the previous year, driven by revenue growth. In the first quarter of this year, its revenue increased by 21.2% to 2,026.7 million thanks to increased activity and registered double-digit growth in most business areas, especially in construction, according to an account submitted to CNMV.

Gross operating results (ebitda) grew by 19.3% to 332.1 million, supported by increased revenues, including larger contributions from the cement and construction sectors. Group revenue portfolio as of March 31 grew by 4.5%, to 42,073.8 million, despite the large increase in contracts achieved over the past year. Its expansion is primarily due to contracts for the integral water cycle and, to a lesser extent, for the environment.

By geographical area, almost 55% of revenue comes from Spain which is 1.109 million, 12% more. The group’s net financial debt closed at 3,417.4 million, an increase of 7% compared to December 2022, due to the development of various projects.

Most of the revenue came from the environmental business with 912.4 million, 9.5% more, due to the start-up and renewal of various road collection and cleaning contracts in Spain and the US, as well as the highest maintenance and restoration activities in the US and UK.

Ebitda area increased 3.6% to 135.8 million and registered portfolio totaled 13,662.9 million, 3.1% more. Revenue from construction area grew by 55.7% to 564 million, thanks to the commencement of new projects awarded last year, mainly internationally, while ebitda reached 33.8 million, a further 55.8%.

The water division increased its turnover by 16.6% to 335.2 million due to increased water cycle concession and service activities due to the incorporation into the GGU company perimeter in Georgia, as well as new contracts in Colombia and Saudi Arabia. Ebitda grew by 1.6% to 74.3 million.

Revenue from cement area increased 32.8% to 149.5 million due to higher prices, slightly increased volumes in Tunisia and stability in Spain compared to the same period last year. Positive ebitda of 31.8 million compared to a loss of 0.9 million the previous year. The real estate division entered 67.2 million, a 17.4% decrease over the previous year due to reduced housing and land development activities. Similarly, ebitda fell 9.3%, to 35 million, due to lower land sales.

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