The FCC Group improved its gross operating profit (EBITDA) by 16.6% to 1,529.6 million in 2023, compared to the 1,311.4 million obtained in 2022, due to the stability recorded in the Group's main business areas, with a more relevant impact on Cement activity.

The consolidated Ebitda operating margin was 16.9%, similar to that obtained last year.

The amount of turnover amounted to 9,026 million euros, 17.1% more than that recorded in the previous year. Cement (18.9%) and Construction (43.5%) activities have contributed notably to this growth, followed by a strong increase in the Water area (12.4%).

For its part, Ebit rose by 49.1% to 910.3 million euros, due to the increase in Ebitda and the base effect of the adjustment carried out in 2022 of 200 million euros in the value of various property, plant and equipment assets and of the goodwill of the Cement area.

The attributable net result increased by 87.5% to 591 million euros reached in the year, due to the good evolution of the operating result together with the effect of the inclusion by equity method of Metrovacesa's participation in the Real Estate area. for an amount of 142.4 million euros.

Likewise, net worth registered considerable growth as of December 2023, 24.4% more than the previous year, reaching 6,145.9 million euros, due to the increase in consolidated profit and the impact derived from the sale of a 24.99% stake in the head of FCC Medio Ambiente.

At the end of the 2023 financial year, the FCC Group's net financial debt stood at 3,100.1 million euros, 2.9% lower than in 2022.

The income portfolio reached 41,620.8 million euros as of December 31, with an increase of 3.3% compared to the end of the previous year, mostly attributable to the notable increase in Water activity.

Operational and hiring milestones

FCC closes the sale of 24.99% of the head of the Environment area for 965 million euros

On October 31, the entry into the capital of the head of the environmental area of ??the Canadian pension fund CPP Investment was completed, following the agreement reached on June 1 to acquire a minority stake of 24.99%, for an amount of 965 million euros. The entry of the new shareholder will allow us to reinforce the positioning and strategic development of the subsidiary, its areas and geographical zones of activity.

The Real Estate area reinforces its competitive position with new acquisitions

Last December, the real estate area, through its parent company FCyC, reinforced its competitive position by investing 178.8 million euros in the purchase of shares in Metrovacesa and Realia, to enhance the enhancement of all its assets and real estate opportunities. After these acquisitions, reported to the stock market regulator, its participation amounted to 21.19% in Metrovacesa and 66.29% in Realia.

FCC Medio Ambiente strengthens its presence in waste treatment in the United Kingdom, Spain and the US.

Last December, FCC Servicios Medio Ambiente agreed to buy the Urbaser group's business in the United Kingdom. The enterprise value (including debt and equity) amounts to GBP398 million. The transaction is expected to be completed in the second quarter of 2024, subject to the satisfaction of certain conditions, customary in this type of transaction. The acquired business in the United Kingdom consists mainly of recycling and waste treatment activities.

In Spain, among others, the award to modernize and operate the comprehensive treatment plant in the Jerez region stands out, which will serve nearly half a million people. The new facilities will increase their recovery capacity and reduce shipment to landfill and are estimated to be operational in 18 months, with an associated exploitation contract for 20 years and expected revenues of 317 million euros. In addition, it is worth mentioning the renewal last September of the street cleaning and MSW contract for the northern area of ??the city of Valencia, for a period of fifteen years and which will provide an income portfolio of 486.5 million euros.

In the United States, the strengthening continues, with the award in St. Johns County (Florida) of the MSW collection service for 575 million dollars; with a duration of seven years and two possible five-year extensions and a covered population of 300,000 residents. The planned investments include the acquisition of a fleet of 62 compressed natural gas collection trucks and 13 auxiliary vehicles. Likewise, work continues to expand and modernize the first recycling center in California (Placer County), with an investment of more than 120 million dollars and an operating period of 20 years. The complex will be one of the largest of its kind, with a treatment capacity of 650,000 tons per year. Finally, the renewal in Polk County (Florida) of the MSW collection contract in its western area also stands out, with a turnover close to 140 million euros, for a period of five years and three possible extensions of a anus.

FCC Aqualia expands its international activity and seals its entry into the US market.

Last December FCC Aqualia entered the US market with the purchase of MDS (Municipal District Services), a company based in Texas, for 81.4 million euros. MDS manages the integral water cycle of more than 360,000 inhabitants, mostly in the outskirts of Houston, with nearly 140 service contracts with different district clients.

Regarding new comprehensive cycle management contracts, the one obtained for the design, construction, rehabilitation and operation of hydraulic infrastructure in Riohacha-La Guajira in Colombia stands out, with a portfolio of 292.7 million euros for a period of 30 years. which is added to other relevant ones obtained in France and Saudi Arabia.

With the increase obtained in the entire water cycle management activity, the portfolio at the end of the year grew by 7% and the international portfolio already represents 68.4% of the area's total.

FCC Construction obtains an important industrial contract in Germany

FCC Industrial, a specialized subsidiary of the Group's construction head, has obtained, in consortium with other companies, the provisional award of the contract for the construction of a regasification terminal in Germany for Hanseatic Energy Hub, with a revenue portfolio of 270 million of euros and will be the second LNG regasification plant in Germany. Likewise, FCC Industrial has also been awarded a contract to build solar facilities in Guillena (Spain), with a total capacity of 263 MW and an investment of 140 million euros.

In the last quarter of the year, it is worth noting that the consortium led by FCC Construction has been chosen as the preferred bid to carry out the works on the new Porto metro line, called Rubi (H), for more than 379 million euros. The new line will add 6.3 kilometers to the city's metro network. Furthermore, in Spain, the joint venture in which FCC Construction participates has been awarded the works for the undergrounding of line R2 in Montcada i Reixac (Barcelona) and the construction of the new station in this municipality, for an amount attributable to FCC Construction. 148.9 million euros.

In December, FCC completed the voluntary takeover bid for the amortization of its own shares

The Board of Directors held on June 28 announced the call for an Extraordinary General Meeting for the acquisition of treasury shares for subsequent amortization, through a takeover bid to be formulated by the Company and addressed to FCC shareholders for a maximum of 32,027 ,600 own shares, representing approximately 7% of the share capital, at a price per share of 12.50 euros. The Extraordinary Meeting, held on July 19, approved its presentation. The CNMV authorized the operation on October 25 and the acceptance period ended on November 30. The result reached 4.502% of the share capital, with 20,560,154 shares being redeemed. In this way, the company's share capital at the end of December 2023 was set at 436,106,917 shares.

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