Formento de Construcciones y Contratas (FCC) Q1 2026 earnings summary

Executive summary

• Revenue increased by 10% year-over-year to €2,398.8m in Q1 2026, driven by organic growth in Construction and acquisitions in the Environment sector in the UK and US.

• EBITDA rose 6.5% to €345.5m, with a margin of 14.4%, slightly lower due to a higher Construction contribution.

• Net profit attributable to shareholders grew 11.9% to €65.8m, supported by positive operating performance and favorable euro exchange rate movements.

• Net financial debt increased 11.5% to €2,565.8m, reflecting investments in contract renewals and a seasonal working capital rise.

• Backlog expanded 5% to €54,176.7m, led by strong growth in the Water division.

Financial highlights

• Equity rose 2.7% to €4,871.5m compared to December 2025.

• EBITDA margin declined by 0.5 percentage points year-over-year to 14.4%.

• Net financial debt increased by €264m since December 2025.

Outlook and guidance

• Growth in backlog, especially in Water and Construction, positions the group for continued expansion.

• Recent contract wins and renewals in key markets support a positive operational outlook.