Concessional activities (water and waste management) were resilient as expected and construction and cement activities saw limited impacts due to major projects in its current portfolio. However, net profits to the parent company took a nosedive (-60%) due to additional provisions, a lower contribution from its subsidiaries, and a negative FX.
06 May 2020
Q1 20: affected by underperforming subsidiaries and COVID-19 provisions
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Q1 20: affected by underperforming subsidiaries and COVID-19 provisions
Fomento de Construcciones y Contratas, S.A. (FCC:FRA) | 0 0 0.9% | Mkt Cap: 3,516m
- Published:
06 May 2020 -
Author:
Sejal Varshney -
Pages:
2
Concessional activities (water and waste management) were resilient as expected and construction and cement activities saw limited impacts due to major projects in its current portfolio. However, net profits to the parent company took a nosedive (-60%) due to additional provisions, a lower contribution from its subsidiaries, and a negative FX.