Net income attributable significantly below the consensus of €189m. Net debt was stable at €3.6bn, which is a disappointment as the net debt/EBITDA ratio rose to 4.39x vs 4.31x in FY16. The UK registered a 15.1% decrease in revenues. On the positive side, Spain is finally rebounding and adjusted FCFE has reached a pivot point. Moreover, the Environmental Services and Water Management areas accounted for 82% of the group’s EBITDA, namely a solid mix of recurrent EBITDA.
01 Mar 2018
FY17: disappointing bottom line but adjusted FCFE finally in positive territory
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FY17: disappointing bottom line but adjusted FCFE finally in positive territory
Fomento de Construcciones y Contratas, S.A. (FCC:FRA) | 0 0 0.9% | Mkt Cap: 3,516m
- Published:
01 Mar 2018 -
Author:
Felix Brunotte -
Pages:
4
Net income attributable significantly below the consensus of €189m. Net debt was stable at €3.6bn, which is a disappointment as the net debt/EBITDA ratio rose to 4.39x vs 4.31x in FY16. The UK registered a 15.1% decrease in revenues. On the positive side, Spain is finally rebounding and adjusted FCFE has reached a pivot point. Moreover, the Environmental Services and Water Management areas accounted for 82% of the group’s EBITDA, namely a solid mix of recurrent EBITDA.