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| FCC Announces a 40.7% Net Profit Increase Fomento de Construcciones y Contratas, S.A. (FCC) obtained 1,819.2 million euro in revenues in the first quarter of 2006, a 19.2% increase on the same period of 2005. Construction, still the largest revenue source, expanded by 9.9%, and Cement increased revenues by 39% due to strong performance in Spain and the United States. International revenues increased by 46.2%, boosted by the recent acquisition of Austrian waste management company ASA and strong performance by the cement subsidiaries in the US, and now represent 11% of the Group total. A large volume of new contracts boosted the works and services backlog to a record 22,080.2 million euro at 31 March, 24.6% more than at the same date in 2005. EBITDA increased by 26.3% to 248.2 million euro and the EBITDA margin was 13.6%, up from 12.9% in 1Q05. EBIT rose by 36.3% to 168.7 million euro, giving an EBIT margin of 9.3%, up from 8.1% in the first quarter of 2005. Earnings before taxes (EBT) amounted to 183.8 million euro, a 39.8% increase. Earnings attributed to the parent company amounted to 113.8 million euro, 40.7% more than in 1Q05. write your comments about the article :: © 2006 Construction News :: home page |