Spain · Delayed Price · Currency is EUR Fomento de Construcciones y Contratas Earnings Call Transcripts
Fiscal Year 2025
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Revenues rose 6.9% to EUR 9.7 billion, with strong growth in environment and water, while net debt fell 23% to EUR 2.3 billion despite heavy investment. Results were impacted by one-offs and a major carve-out, but future revenue visibility and financial strength improved.
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Attributable net profit declined due to the Inmocemento carve-out and euro strength, but revenue and EBITDA grew across key segments, especially in environment and water. Construction and concessions saw portfolio and revenue growth, with investments set to remain strong.
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Revenues and EBITDA grew double digits, led by strong environmental and water segments, while net earnings were impacted by the carve-out of cement and real estate. Investments and margins remain robust, with stable outlook and continued expansion in key markets.
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Q1 2025 saw an 8.9% revenue increase and 14.6% EBITDA growth, led by strong environment and water segments, while net profit fell 43.4% due to carve-out and FX effects. Leverage remains robust at 2x EBITDA, with no new M&A in the quarter.
Fiscal Year 2024
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Revenues grew 10.4% to EUR 9.07 billion and EBITDA rose 11.7% to EUR 1.4 billion, driven by strong performance in environment, water, and concessions. Net profit fell 27% due to discontinued activities post-carve-out, while investments and cash flow improved significantly.
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Revenues rose 8.4% to €6.5 billion and EBITDA grew 7.6% to €985.5 million, with strong performance in Environment and Water segments. Net income increased 6.3% to €426.6 million, and over €1 billion was invested, mainly in international expansion.