Fomento de Construcciones y Contratas expanded its footprint in 2022 within the infrastructure sector. The year closed with revenue totaling 7,705.7 million euros, marking a 15.7 percent increase from the previous year. Gross operating profit rose to 1,311.4 million euros, while net operating result declined by 23.9 percent to 610.5 million. The decline was attributed to a value adjustment in cement field goodwill, reflecting the impact of higher energy costs on the business mix.
FCC Group held a contract backlog of 40,273.8 million euros as of December 31, a 33.4 percent rise compared with 2021. Construction activity advanced 65.4 percent and the water segment grew 32.2 percent, together accounting for more than 64 percent of the total portfolio. The figures were presented in a document to the National Securities Market Commission. The company is publicly traded and largely controlled by Mexican entrepreneur Carlos Slim, carrying a net debt position of 3,192.7 million euros.
Among the notable milestones highlighted for the year, FCC’s takeover bid for Metrovacesa resulted in a 14.3 percent stake in the company, positioning FCC as the third-largest shareholder after Banco Santander and BBVA. The group also announced the acquisition of Murcia Tram for 48.5 million euros, gaining control of the sole tram line in the city for the next forty years.
National and international conventions
The construction division secured a project valued at 2,700 million euros, leading a consortium to construct the first tunnels for both high-speed and freight railways in Saudi Arabia. This project is part of the RV 555 highway corridor that connects the island of Sotra with Bergen in Norway. The group also won two railway contracts in Romania and extended its contract to operate the Maya Train in Mexico. It is slated to build a commuter line in Toronto and will participate in the Stations, Trains and Systems contract for the Scarborough subway expansion in Canada, with FCC set to receive half of the contract value. In the United States, FCC will join a consortium to deliver six bridges along a highway project in Pennsylvania.
In the environmental division, which specializes in waste collection and treatment, contracts worth 1,000 million euros were secured in the United States. Projects include facilities in Placer and Port Saint Lucie in Florida, as well as Palm Coast and Lake County in Florida, along with Hillsborough County in Florida. The company also expanded its footprint by acquiring Houston Waste Solutions, a municipal solid waste firm serving the Houston metropolitan area. In Spain, agreements were signed to treat waste valued at 2,300 million euros across locations such as Badajoz, Mijas, Granollers, Tenerife, Zaragoza, Vigo, Madrid, Salamanca, Alicante and Girona.
Additionally, Aqualia, the water treatment subsidiary of FCC, signed three new contracts and completed acquisitions that will serve eight million people in Saudi Arabia. It acquired 100 percent of Saur Colombia SAS, which includes six concession companies along Colombia’s north coast, and 80 percent of the water business of Georgia Global Utilities JSC, the city’s infrastructure operator. Notable projects include initiatives in Tbilisi, Mtskheta, and Rustavi, reinforcing FCC’s strategic expansion in water services across multiple regions.