Fomento de Construcciones y Contratas SA (LTS:0HAA)
€ 9.26 -0.09 (-0.96%) Market Cap: 4.24 Bil Enterprise Value: 7.04 Bil PE Ratio: 6.82 PB Ratio: 0.89 GF Score: 71/100
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Half Year 2020 Fomento de Construcciones y Contratas SA Earnings Call Transcript

Jul 29, 2020 / 07:00AM GMT
Release Date Price: €5.24 (-2.78%)
Miguel Coronel Granado
Fomento de Construcciones y Contratas, S.A. - Director of Management Control & Capital Markets

Welcome to this earnings presentation of the FCC Group for the first half of 2020. I'm Miguel Coronel. And the results have been published. They were published first thing this morning at the CNMV. I would, first of all, like to highlight a few magnitudes.

So in terms of the earnings, which went down by 6% with respect to 2019, this was due to the contraction in earnings in the different business areas. There's, of course, the effect of the measures taken to fight COVID-19. But it is true that it's been partially offset, first of all, by greater contribution from concessions because of the takeover of Cedinsa and also because of the good evolution of some areas, particularly essential activity areas.

I would also like to mention the net attributable profit, which was EUR 75.9 million, was a little bit lower because of the operational development in terms of the operational profit. The other headings had quite a stable performance, except that we had higher

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