Fomento de Construcciones y Contratas SA (OTCPK:FMOCF)
$ 10.60647 0.71 (4.95%) Market Cap: 4.47 Bil Enterprise Value: 7.42 Bil PE Ratio: 6.77 PB Ratio: 0.89 GF Score: 81/100
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Full Year 2018 Fomento de Construcciones y Contratas SA Earnings Call Transcript

Feb 27, 2019 / 08:00AM GMT
Release Date Price: $10.21
Miguel Coronel Granado
Fomento de Construcciones y Contratas, S.A. - Director of Management Control & Capital Markets

Good morning. Ladies and gentlemen, my name is Miguel Coronel, Director for Capital Markets and Management Control at FCC. Welcome to the presentation of results of the year 2018 of the FCC Group, which as you know, we have sent this morning to the market. Amongst the main highlights, I'd like to mention the increase in net profit, which has gone up by more than 113% reaching EUR 251.6. That is more than twice what we had last year in net profit. This increase can be explained thanks to the contribution of several factors, for example, all of our operational activities had behaved well, we've reduced our financial cost. Thanks to lower and more competitive level of debt, and we also have the contribution of both participated and associated companies.

I would like to underscore the sale of a minority share, 49%, of FCC Aqualia for an amount of EUR 1.024 billion, so the subsidiary is still consolidated within the group. As we already said, in the third quarter most of this

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