2005 - 2006 - Pinsent Masons Water Yearbook 2012

SPAIN PART 3 (ii): COMPANY ANALYSIS: LOCAL/REGIONAL PLAYERS
FCC (Fomento de Construcciones Y Contratas SA)
Fomento de Construcciones Y Contratas SA (FCC) is the result of the 1992 merger between
Construcciones Y Contratas SA and Formento de Obras y Construcciones SA (Focsa). Focsa was a
Spanish construction company which had traditionally dominated Spain’s urban waste collection and
street cleaning sectors. Focsa was founded in 1900 and gained the Barcelona sewerage contract in
1911. FCC’s water and sewerage operations are, along with VE’s SOGESUR, the second largest in
Spain after Agbar.
In 1999, Alica Koplowitz sold her 28% stake in FCC to VE. While the original aim was for VE to take
control of FCC, the company sold this stake back to Ms Koplowitz for €916 million in July 2004. The
stake sale does not affect the Proactiva joint venture.
Fomento de Construcciones Y Contratas SA, profit and loss account
Y/E 31/12 (€ million) 2000 2001 2002 2003 2004
Turnover – services 1,629 1,579 1,606 1,709 1,819
Total turnover 4,468 5,173 5,497 6,051 6,286
Pre-tax profit 447 470 498 521 570
Net profit 306 476 455 496 603
Net attributable profit 216 241 273 309 388
Water revenues in Spain (Aqualia SA) were €461 million in 2004, with international water revenues of
€53 million. Revenues from Latin America in 2003 were €87 million. The Services Division had an
order backlog of €11.8 billion at the end of 2004, €400 million higher than in 2003. FCC currently
serves 9.5 million people in Spain: it provides sewerage services for 7.2 million people and water (as
well as sewerage) services for 2.3 million.
Sewage treatment works (PE above 200,000)
Municipality Population equivalent
Barcelona (Bogatell) 550,000
Crispijana (Vitoria) 350,000
El Copero (Seville) 550,000
Rejas (Madrid) 543,000
Sistema de Igualada 300,000
Tablada (Sevilla) 200,000
Terrassa (Barcelona) 300,000
Vilaseca Salou (Tarragona) 254,000
Viveros (Madrid) 670,000
Sewerage: O&M contracts (250,000+ people)
Municipality Population equivalent
Barcelona (7 years) 1,505,000
Bilbao 354,000
Córdoba 314,000
Granada 243,000
L´Hospitalet (Barcelona, 10 years) 242,000
Madrid (Central Zone, 4 years) 2,900,000
Málaga (Cartama, 25 years) 534,000
Sevilla (La Ranilla, 13 years) 703,000
Vigo (Pontevedra, 14 years) 287,000
Zaragoza 611,000
321 Pinsent Masons Water Yearbook 2005 – 2006