FCC reported an increase in revenue from its waste management and environmental services business in the first three quarters of 2023. New contracts in its home market of Spain and the rapid growth in waste management activities in the US ensured that revenues in the Environment business area rose by just over 6 per cent to €2.858bn, despite stable turnover in the UK and Central Europe, according to its quarterly financial report released last week.
Higher fuel prices and lower revenues from the sale of recovered materials had an adverse impact on gross operating profit. As a result, the year-over-year increase in division earnings before interest, tax, depreciation and amortisation (Ebitda) increased slightly less, climbing 5 per cent to €451m. The division's order backlog had grown by 2 per cent compared to the end of last year to €13.56bn, with a slight decrease in international contracts offset by stronger activity in Spain....
