FCC has obtained an attributable net profit of 315.2 million euros in 2022, which represents a decrease of 45.7% compared to last year due to atypical accounting and minor effects, although it increased its gross operating result by 16.4% (Ebitda) due to the increased activity of its businesses.
The company justifies in its income statement that the decrease in profit is due, among other factors, to the reduction in the book value of the goodwill in the Cement area by 200 million euros and the joint effect of the reduction of 56.5 million euros of the results generated by entities by the equity method and other financial results that, among various headings, include the effect in 2021 of the sale of minority stakes in different companies, mainly concessions and energy.
For its part, the increase in Ebitda to 1,311.4 million euros is explained by the 15.7% increase in revenue, which amounted to 7,706 million euros, and by the positive effect of various acquisitions made in both years .
During this year, the performance of the different activities of the group stood out, with increases in income and sustained high operating margins in the Construction, Environment, Water and Real Estate areas, especially the latter, which obtained growth of 83.1 % Over the previous year.
One of the greatest impacts came from the Cement business, whose operating result fell as a result of higher energy costs in its exploitation operations. Despite this, the group’s gross margin reached 17%, slightly higher than last year.
In fact, the net operating result (Ebit) fell by 23.9%, due to the value adjustment made to the goodwill in the Cement area, which reflects the impact of higher energy costs. Adjusted for extraordinary effects, Ebit increased by 17.4% in 2022.
At the end of the year, the FCC group’s contracted backlog amounted to 40,273.8 million euros, 33.4% more than in 2021, highlighting the growth of 65.4% in the Construction area and 32.2% in that of water In both businesses, the contracts obtained in the international area exceeded 64% of the total.
As of December 31, net debt stood at 3,192.7 million euros, with a slight reduction compared to the end of 2021, despite the acquisitions undertaken and the consolidation of debt. For its part, net worth reached 4,939 million euros, 11.2% higher than that registered in the 2021 financial year.
With regard to the remuneration of the board of directors in the past financial year, the CEO of FCC, Pablo Colio, received a total remuneration of 940,000 euros, which represents a growth of 21% compared to the 775,000 euros he earned one year. back.
This remuneration is made up of 650,000 euros in fixed remuneration, 226,000 euros from the long-term variable plan, 44,000 euros in per diems and 4,000 euros in other concepts, to which is added another 16,000 euros received in other group companies.
As a whole, the board of directors received a total remuneration of 2.56 million euros, 4.3% higher than a year ago. After Colio, the second highest remuneration, of 465,000 euros, was obtained by the CEO of Realia and Cementos Portland -two of its subsidiaries-, Gerardo Kuri, who precisely resigned this week from these two positions, although he has become vice president not executive in both