Madrid-based FCC Group, which includes waste and recycling services as one of its business units, says it attained net profits of €251.6 million ($286.3 million) in 2018, representing a 113.2 percent increase compared to 2017. The company has cited “the good performance of operating activities, the reduction in financial expenses and the larger contribution from investee and associated companies” as factors in its results.
FCC Group says its revenue in its environmental (waste and recycling) business unit grew by 3.2, less than the 8.7 percent revenue growth in its water operations and 9.5 percent growth in its cement business unit. Overall the environmental services business unit accounted for 51.3 percent of FCC’s earnings in 2018, however.
States FCC, “The performance of the environmental area in terms of the EBITDA (earnings before interest, taxes, depreciation and amortization) growth in the business areas is notable due to its large contribution to the group, as it reflected 3.7 percent growth to €441.4 million ($502.3 million).”
FCC Medio Ambiente commissioned or planned several waste treatment and reduction plants in 2018, says FCC. This includes a thermal plant in Scotland that will be fed via a 25-year contract and the expansion of an “environmental complex” in Spain to help serve a 20-year contract.
Although the United States and Canada accounted for just 1.3 percent of FCC’s revenue in 2018, the company says “the portfolio held by FCC Environmental Services reached $550 million in the United States” last year.
In November of 2018, FCC Environmental Services obtained three new contracts in the state of Texas. It now has 10 such contracts in that state.