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| FCC revenues rise in 2007 Fomento de Construcciones y Contratas, S.A., one of Spain's largest construction groups, obtained revenues amounting to 13,880.6 million euro in 2007, a 46.4% increase over the previous year. This increase in revenue is due to organic growth and consolidation of companies acquired in 2006 (WRG, Alpine, Uniland, SmVAK, Lemona and Flightcare Italia). All strategic areas attained double-digit growth. Overseas revenue accounted for 36% of the total (4.996 billion euro), triple the 2006 figure. The areas with the greatest proportion of overseas revenue are Construction (41%) and Environmental Services (36%). Of the total international revenues, 83% were obtained in Europe and 5% in the USA. New contracts in 2007 totalled 13.447 billion euro (+23%) and the backlog of pending projects as of 31 December was 33.148 billion euro, 8% more than at the end of 2006. EBITDA totalled 2,042.1 million euro, i.e. 47.2% year-on-year growth, and the EBITDA margin was 14.7%, 0.1 points more than in 2006. EBIT increased by 47.4% to 1,299.4 million euro and the EBIT margin rose to 9.4% due to the good performance of environmental services. Earnings before taxes (EBT) amounted to 1.270 billion euro, a 43.2% increase. Earnings attributed to equity holders of the parent company, after deducting taxes and minority interests, amounted to 737 million euro, 38% more than in 2006. The tax rate was 27.5% (31.4% in 2006). write your comments about the article :: © 2008 Construction News :: home page |