The construction area of the FCC Group revenues grew 15% in the first quarter of 2024 to 648 million euro. The growth in revenues is explained by the start of new projects awarded during the past year, including most notably industrial projects in the development of renewable energy and gas plants, as well as international projects related to railway and road infrastructure. By geographical area, turnover in Spain increased by 13.2% to 282.2 million euros, with a good rate of progress in all the works underway, especially railways, as well as the start of new projects such as renewable energy production plants. In Europe, turnover grew by 61.3% with 179.2 million euros, mainly due to the progress of the A-465 motorways in the United Kingdom and the A-9 in Holland and the Sotra Bridge project in Norway.

The Middle East and Australia area increased revenues by 18.1% to 43.8 million euros, due to a higher contribution from the NEOM railway line works in Saudi Arabia.

EBITDA reflected the increase in revenues to EUR 38.9 million, up 15.1% compared to the same period in 2023. Its performance is similar to that of revenues, with no appreciable variations in the contribution of the works in progress, so that the operating margin remained stable at 6% in this period, identical to the level reached in the first three months of 2023.

The revenue backlog at the end of March 2024 was EUR 6,830.8 million, 6.3% higher than in 2023. In international construction, the FCC Group's construction area increased its order book by 10.5% to 4,464.8 million euro, 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 first phase of project management of a future nuclear reactor in Holland standing out.

Milestones in the FCC Group's construction area:

• The Department of Infrastructure of Ontario (Canada) has awarded FCC Construcción the contract to build new tunnels and stations in the Toronto underground network. FCC Construcción will build three kilometres of twin tunnels on Papa Avenue, two underground stations (Pape and Cosburn) and a rail changeover, as well as the exits and emergency services.
• Contract for the Rubí: Casa da Música - Santo Ovidio line on the Porto Metro (Portugal), worth 227.7 million euro for FCC.
• A consortium made up of FCC Industrial, CAF and Revenga has won the Adif tender for the deployment of signalling and railway traffic management on the Murcia-Almería section, which is vital for the promotion of the Mediterranean Corridor in Spain.