Spanish giant FCC’s annual results have revealed a decline in construction revenue for 2016 despite the contribution from its Mersey Gateway project.
The Madrid-based company posted total construction turnover of €1.65bn (£1.42bn) for 2016, down 18 per cent from €2bn in 2015.
Revenue from construction fell by more than a third in the company’s native Spain and by 30 per cent in Latin America, but was up 22 per cent in the Middle East and North Africa.
FCC’s construction turnover from the rest of the world increased 3 per cent to €242m for 2016, with the company citing a “higher contribution” from both its Mersey Gateway project and the Gerald Desmond bridge scheme in Los Angeles.
Merseylink – a consortium of Kier, FCC and Samsung – is expecting to complete work on the £600m Mersey Gateway (pictured) later this year. The six-lane crossing will link Runcorn and Widnes.
Across all business areas – including water, environmental services and cement – FCC’s UK revenue dropped 14 per cent to €889m.
Overall global group revenue fell 8 per cent to €6bn. Global group EBITDA was up 2 per cent to £834m.