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FCC Group

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Fomento de Construcciones y Contratas, S.A.
FCC
Company typeLimited Company (In Spain: Sociedad Anónima)
BMAD: FCC
ISINES0122060314 Edit this on Wikidata
IndustryConstruction, Civil engineering
Founded1900
HeadquartersBarcelona, Spain
Key people
Esther Koplowitz (Chairman)[1]
Pablo Colio Abril (CEO)[2]
RevenueIncrease €9,026.0 million (2023)[3]
Increase €910.3 million (2023)[3]
Increase €744.8 million (2023)[3]
Number of employees
67,000 (2023)[3]
Subsidiaries
Websitewww.fcc.es/en/

The FCC Group, formerly Fomento de Construcciones y Contratas, S. A. (currently one of the group's entities),[4] is a Spanish business group, based in Barcelona. It has specialised in public services. Its shares were first listed on the stock exchange in December 1900. The group is listed on the Spanish Continuous Market and was once part of the IBEX 35.

In 2021, the group was among the top 10 companies that emitted the most tonnes of CO2 equivalent in Spain with 3.5 mtCO2e.[5]

History

[edit]

The business was founded as a construction company in Barcelona in 1900, under the name of Fomento de Obras y Construcciones S.A. and became known as FOCSA. It began operations in public services in 1911 with a contract to clean and maintain Barcelona's sewerage network. In 1992 FOCSA merged with Construcciones y Contratas, a company founded in Madrid in 1944 to form Fomento de Construcciones y Contratas, S.A.[6]

Proactiva was a 50–50 joint venture formed in 1999 between Veolia Environnement and FCC,[7] until Veolia bought the other 50 percent share from FCC in 2013.[8]

In September 2006 FCC acquired the British Waste Recycling Group, excluding its landfill gas operations, from Terra Firma Capital Partners for £1.4 billion.[9][10]

In July 2013, Alpine Bau Holding GmbH, a subsidiary of FCC which had accumulated debt of €2.56 billion and placed €190 million of corporate bonds on the Wiener Börse OTC, went into administration.[11]

In August 2013, FCC sold its subsidiary Alpine Energie, a company of 3,000 employees in the German-speaking Alps that builds and maintains power plants, telecommunications, and traffic infrastructure, to Triton Partners, a private equity company, for just under €100 million ($133 million).[12]

In October 2013, Bill Gates joined the company as a shareholder with a 5.7% stake,[13] reflecting FCC's strong position in sectors linked to his vision of sustainability (Environmental Services and Water). Shortly thereafter, in December of the same year, the financier George Soros became a shareholder of the company with a 3% stake.[14]

In December 2014, FCC carried out a share issue worth €1 billion,[15] facilitating the involvement of business magnate Carlos Slim as a majority shareholder.[16]

FCC was charged with corruption and money laundering by Spain's High Court in October 2019. The charges related to bribes, totalling €82 million ($91 million), to secure transport and hospital contracts in Panama between 2010 and 2014.[17][18][19]

Then, in September 2020, FCC was banned from bidding for contracts by the World Bank for two years following the company's involvement with fraudulent and collusive practices in Colombia.[20] The company was required to pay $5.5m in restitution for its illegal activities.[21]

In July 2022, the company was fined €40.4 million, along with five other contractors, by the Comisión Nacional de los Mercados y la Competencia (CNMC) for bidding collusion in public tenders for building and civil infrastructure works.[22]

In January 2023, the National Court suspended, on a precautionary basis, the sanction imposed by the CNMC against FCC Construcción, which consisted of a fine of €40.4 million and a prohibition to contract with public authorities. The measure was taken while the appeal filed by the company was being resolved.[23][24][25]

In 2022, FCC joined the SDG campaign launched by the UN Global Compact Spain. As part of the campaign, its members are working to advance the climate change agenda, social equity and other global socially important issues.[26]

In July 2023, FCC's shareholders approved an initial public offering to reduce its share capital by 7 per cent by acquiring more than 32 million shares. The maximum allocation for this task was €400 million. At the same time, some minority shareholders were concerned that the move was preparation for an exclusionary placement that would strengthen the position of large shareholders. The deputy secretary of the board of directors, Felipe Garcia Perez, denied this claim.[27]

Operating in more than 29 countries worldwide, over 47.5% of its turnover comes from international markets, mainly from Europe and the United States.[28][29]

Structure

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Its core activities are environmental services management, end-to-end water cycle management, major infrastructure construction, cement production and real estate management.[30]

As of May 2022 the business was divided into the following five major divisions:[31]

  • FCC Environmental
  • Aqualia
  • FCC Construction
  • FCC Real Estate
  • Cementos Portland

Major projects

[edit]
Prince Philip Museum of Science
New Europe Bridge

Major FCC construction projects have included:

Shareholders

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The shareholders are as follows:[39]

FCC offices in Madrid.
Shareholder Total voting rights Direct voting rights Indirect voting rights
Business Capital Control, S.A. de C.V. 69.578% 60.583 % 8.994 % (Dominum Direction and Management)
Melinda French Gates 4.251 % 4.251 % 0.000 %
Esther Koplowitz 3.216 % 0.035 % 3.181 % (Nueva Samede 2016)
Nueva Samede 2016, S.L.U. 3.181 % 3.181 % 0.000 %
Carlos Slim 11.911 % 0.000 % 11.911 % (Finver Investments 2020)

References

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  1. ^ "FCC Board of Directors". Retrieved 26 September 2017.
  2. ^ "Pablo Colio, new CEO of the FCC Group". 12 September 2017. Retrieved 26 September 2017.
  3. ^ a b c d "Annual Report 2023" (PDF). FCC Group. p. 425. Retrieved 24 July 2024.
  4. ^ "Legal warning - FCC". www.fcc.es. Retrieved 2023-06-07.
  5. ^ "Decarbonization 2022". Observatorio de Sostenibilidad. 1 October 2022. Retrieved 6 November 2022.
  6. ^ "History 1991-1993". Fomento de Construcciones y Contratas. Retrieved 27 February 2021.
  7. ^ "Veolia Environnement signs an agreement with FCC to own 100% of Proactiva". Veolia. Archived from the original on 29 January 2018. Retrieved 29 January 2018.
  8. ^ "The history of Veolia : 2010 - 2016". Veolia. Archived from the original on 29 January 2018. Retrieved 29 January 2018.
  9. ^ "FCC completes £1.4bn acquisition of Waste Recycling Group". letsrecycle.com. 28 September 2006. Retrieved 16 October 2012.
  10. ^ "FCC Buys Waste Recycler From Hands for 1.4 Bln Pounds". Bloomberg. 17 July 2006. Retrieved 16 October 2012.
  11. ^ Mirco Galbusera (July 8, 2013). "Austria, fallisce Alpine con buco di 2,6 miliardi". Archived from the original on May 6, 2020.
  12. ^ "Private equity firm Triton buys Alpine Energie from Spain's FCC". Reuters. 13 August 2013. Retrieved 14 November 2014.
  13. ^ "Bill Gates buys 6% of the capital of FCC". Retrieved 21 October 2013.
  14. ^ Carlos Ruano; Sonya Dowsett (14 November 2014). "Soros fund to become key shareholder in Spanish company FCC". Reuters. Thomson Reuters. Retrieved 14 November 2014.
  15. ^ "The FCC capital increase". Retrieved 18 December 2014.
  16. ^ "Carlos Slim is the majority shareholder of FCC". Retrieved 14 January 2015.
  17. ^ "Spain's High Court charges builder FCC over Panama contracts". Reuters. 31 October 2019. Retrieved 15 March 2024.
  18. ^ "Spanish courts charge FCC with corruption over Panama projects". Global Construction Review. 1 November 2019. Retrieved 15 March 2024.
  19. ^ "Spanish company indicted for $91 million bribes to Martinelli frontman Newsroom Panama". Newsroom Panama. 30 October 2019. Retrieved 15 March 2024.
  20. ^ "World Bank Group Debars FCC Construcción S.A." World Bank. 16 September 2020. Retrieved 15 March 2024.
  21. ^ "FCC debarred from World Bank projects over fraudulent Colombian bid". Global Construction Review. 18 September 2020. Retrieved 15 March 2024.
  22. ^ "Spain's six top builders fined, restricted over bidding collusion". Reuters. 7 July 2022. Retrieved 15 March 2024.
  23. ^ "La Justicia paraliza de forma cautelar la multa de la CNMC a FCC de 40 millones". La Informacion. 26 January 2023. Retrieved 15 March 2024.
  24. ^ "La Audiencia Nacional suspende de forma cautelar la sanción de la CNMC a FCC de 40 millones de euros". Europa Pass. 26 January 2023. Retrieved 15 March 2024.
  25. ^ "La Audiencia Nacional suspende de forma cautelar la sanción de la CNMC a FCC de 40 millones de euros". Press Digital. Retrieved 15 March 2024.
  26. ^ "Fomento de Construcciones y Contratas S A : FCC Group joins the SDG campaign promoted by the UN Global Compact in Spain". Marketscreener. 20 September 2022. Archived from the original on 2024-03-25. Retrieved 2024-03-25.
  27. ^ "Spain's FCC Approves Buyback of Shares". Bloomberg. 19 July 2023. Archived from the original on 2024-03-25. Retrieved 2024-03-25.
  28. ^ "Global presence - FCC".
  29. ^ "FCC increases its global presence".
  30. ^ "FCC's portfolio is diverse and reaches all citizens".
  31. ^ "FCC business areas".
  32. ^ "Torre Picasso at Emporis". Emporis GMBH. nd. Archived from the original on June 14, 2004. Retrieved 14 November 2014.{{cite web}}: CS1 maint: unfit URL (link)
  33. ^ "AD Classics: Puerta de Europa / Philip Johnson & John Burgee". Arch Daily. Plataforma Networks Broadcasting Architecture Worldwide ArchDaily LLC. 30 September 2011. Retrieved 14 November 2014.
  34. ^ "El Museu de les Ciències Príncipe Felipe". Structurae, International Database for Civil and Structural Engineering. Wilhelm Ernst & Sohn Verlag. nd. Retrieved 14 November 2014.
  35. ^ "Torre Caja Madrid". Structurae, International Database for Civil and Structural Engineering. Wilhelm Ernst & Sohn Verlag. nd. Retrieved 14 November 2014.
  36. ^ "Potain a ajutat la ridicarea pasajului Basarab" (in Romanian). Masini si Utilaje.ro. nd. Archived from the original on 29 November 2014. Retrieved 14 November 2014.
  37. ^ "FCC inaugurates new Danube Bridge linking Bulgaria and Romania". TheCorner.eu. 14 June 2013. Retrieved 31 March 2014.
  38. ^ "Haren Prison, Belgium", Fomento de Construcciones y Contratas
  39. ^ "Official Records of the CNMV on FCC".
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