Formento de Construcciones y Contratas (FCC) Q2 2026 earnings summary

Executive summary

• Revenue rose 13.2% year-over-year to €5,156.2 million, driven by strong Construction activity and Environmental Services growth, including acquisitions in the US and UK.

• EBITDA increased 7.4% to €725 million, with a margin of 14.1%, reflecting higher revenues but a shift in business mix.

• Net profit attributable to the parent company surged 58.7% to €128.1 million, aided by operational growth and favorable one-off items.

• The backlog expanded 6.5% to €54,955.2 million, led by new contract awards in the Water business.

Financial highlights

• Net turnover: €5,156.2 million (+13.2% YoY); EBITDA: €725 million (+7.4% YoY); EBIT: €311.4 million (+22.4% YoY).

• Net financial debt increased 8.8% to €2,504 million, mainly due to seasonal working capital needs.

• Equity remained stable at €4,724.5 million.

• Operating cash flow was €366.7 million (+11.3% YoY); investment cash outflow rose to €354.5 million.

• Dividend of €0.50 per share paid in July 2026.

Outlook and guidance

• Growth expected in Environmental Services, Water, and Construction, supported by new contracts and strategic acquisitions.

• Risks include geopolitical tensions, inflation, interest rates, and supply chain disruptions, but opportunities exist in decarbonization, digitalization, and infrastructure demand.

• Financial structure remains solid, with ongoing focus on risk management and operational efficiency.