Fomento de Construcciones y Contratas SA (FRA:FCC)
€ 9.26 -0.05 (-0.54%) Market Cap: 4.23 Bil Enterprise Value: 7.03 Bil PE Ratio: 6.81 PB Ratio: 0.89 GF Score: 72/100
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Q3 2020 Fomento de Construcciones y Contratas SA Earnings Call Transcript

Nov 05, 2020 / NTS GMT
Release Date Price: €5.18 (+0.52%)
Miguel Coronel Granado
Fomento de Construcciones y Contratas, S.A. - Director of Management Control & Capital Markets

Hello. Good morning. I'm Miguel Coronel, Director for Markets of the FCC Group. We are delighted to have you here with us this morning. We have -- we're going to present the earnings of the last quarter.

I would like to mention 2 elements of this earnings. First of all, the evolution of the company's EBITDA, which reached EUR 761.5 billion. It grew by 2.8%, and this increase was due to several elements. First of all, we observed a progressive recovery of operational activities, especially in the third quarter. Secondly, there was a greater contribution of concessions, which had already been observed in previous months. And finally, there was a higher contribution of sales of CO2 rights in the Cement area, especially in the third quarter. But if we adjust this last factor, the accumulated EBITDA until September had -- well, recorded a slight fall with respect to the same period of 2019.

Now the attributable net earnings reached EUR 174.5 million, which is 25.1% less. Of

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