FCC’s full recovery after years of difficulties during the previous crisis is confirmed with the close of complicated 2020 with an attributable net profit of 262 million. The figure is 1.7% below the 2019 result and includes adverse effects from exchange rates for a total of 51 million, compared to the 15 million positive contribution in 2019.
Sales, of 6,158 million euros, fell 1.9%. The controlling company Carlos Slim He attributes it to the passing of the health crisis and the measures decreed by the governments. Despite this, this morning FCC highlights the behavior of its Environment (43% of EBITDA) and Water (27% of EBITDA), thanks to the continuity of essential services. The Concessions division has also played in favor after the purchase of the majority of the Cedinsa Group.
These “utilities” activities have generated close to 80% of the total gross operating profit, while Construction has made provisions to cover possible risks derived from a pandemic.
The ebitda of FCC At the end of 2020, it stood at 1,047.5 million euros, an increase of 2.1%. In addition to the Water and Environment march, the sale of CO2 rights by Portland Cements.
At the end of fiscal year 2020, the net financial debt was 2,797.8 million, with a reduction of 21.8% compared to 2019.
The revenue portfolio closed as of December 31, 2020 at 29,411.7 million euros.