FCC obtained a profit of 315 million euros in 2022, 45% less than in the previous year, despite the improvement in its business margins in a year marked by inflation and the increase in its international exposure. However, the group's accounts weighed down the extraordinary losses after the sales in 2021 of energy and concession activities, in addition to the high concentration of the business in Spain.
The income of the Spanish construction company of Carlos Slim increased by 15%, up to 7,705 million euros, and the gross operating profit did so by 16%, up to 1,311 million. The group also highlights the reduction in the weight of construction and the growing exposure to both environmental services and the real estate business after its strengthening in Realia and Metrovacesa.
55.4% of the business corresponds to Spain, compared to 13% in the United Kingdom and 10% in North America. Of the income, environment, water and construction account for more than 80%, but the real estate area already accounts for 11% after growing by 83%. The construction company has the Mexican millionaire Carlos Slim as the first shareholder through the company Control Empresarial de Capitales, ahead of Esther Koplowitz's 4.5%.
Despite its lower international exposure than other construction companies such as ACS, Acciona, Ferrovial, Sacyr or OHLA, the group increased the global portfolio by 65% last year, up to 4,700 million euros, thanks to new projects in the United States, Canada, Norway or Saudi Arabia.
Of the contracts obtained last year, 64% correspond to outside of Spain. Despite its growth, the international portfolio is still relatively small when compared to the total of 40,273 million euros, 33% higher than the previous year.
FCC highlights the increase in margins over the past year, up to 17%, thanks to its ability to transfer the rise in inflation to contracts. Rising energy costs have forced it to adjust the value of its cement division. The net debt stood at 3,192 million euros at the end of last year, slightly from the figure at the end of 2021.
Of the contracts last year, the one with Saudi Arabia stands out to build the first tunnels for high-speed and freight railways for 775.2 million euros, or the one with Norway to build a motorway as part of an infrastructure project for 1,230 million euros.
FCC Construcción has also become the first classified to build a commuter line in Toronto, in a project with a total budget of more than 4,000 million euros. In the United States, it was made with a contract of 1,500 million euros in Pensivalnia.
