The FCC Group's construction division increased its revenues by 9.7% to 1,406.9 million euro in the first half of 2024. The start of the new projects awarded, as well as the good performance of the projects under execution, among which the Industrial projects under development stand out, are the following of renewable energy and gas plants, as well as other relevant international projects in rail and road infrastructure, explain the good performance of revenues. 

By geographical area, in Spain turnover increased by 11.2% to 595.5 million euros, with a good rate of progress in all the works underway, especially in railways and the start-up of new projects, including the construction of solar installations in Guillena (Seville), which have offset the lower contribution, due to completion, of the Santiago Bernabéu Stadium (Madrid). In European projects, turnover grew by 41% with 381.5 million euros, mainly supported by the progress of the A-465 motorways in the United Kingdom, the A-9 in Holland and the Sotra Bridge in Norway, which is the most important infrastructure under construction in the country. In the Americas, turnover fell to 277.8 million euros, with a slight decline compared to the first half of 2023, explained by the completion of the Tren Maya project in Mexico, which was not offset by the growing contribution of the railway works in Toronto (Canada) and Pennsylvania (USA). In the Middle East, Africa and Australia, revenues increased by 91.8%, reaching 152.1 million euros, due to a greater contribution, among others, from the NEOM railway line works in Saudi Arabia.

The FCC Group's construction division contributed 13.5% of the FCC Group's EBITDA in the period. Its activity focuses on the design and construction of large civil, industrial and building projects, with a selective presence in certain regions that currently include more than 15 countries. Of note is the participation in large-scale railway, tunnels, bridges and motorway projects, which account for a large part of the project portfolio. Gross operating profit reflected the increase in revenues to EUR 82 million, up 6.6% compared to the same period of 2023. Its performance does not include appreciable variations in the contribution of all works in progress, although the greater weight of industrial projects resulted in an operating margin of 5.8%, somewhat lower than that achieved in the same period of the previous year.

Net operating income amounted to 58.1 million euros, 8.8% higher than in the previous year, reflecting the aforementioned evolution of gross operating income.

The revenue backlog at the end of June remained virtually unchanged from December 2023 at EUR 6,409.8 million. The international order book increased by 3.2% to Euro 4,167.5 million, with the contract for the Rubí line of the Oporto Metro, the construction of a regasification terminal in Germany for Hanseatic Energy Hub and the construction of a regasification terminal in Germany for Hanseatic Energy Hub being of particular note.

Germany for Hanseatic Energy Hub and the first phase of project management of a future hospital nuclear reactor in the Netherlands. The backlog in Spain declined 6% due to the completion of certain singular projects. At the end of the first half and by type of activity, civil works continued to dominate, accounting for 74.8% of the total, concentrated in large public contracts in certain selective markets in Europe, America and the Middle East.