Spanish-based contractor FCC has recorded revenues of €4.38 billion for the first nine months of 2016 – an 8.6% decrease from the same period a year ago.

The company said the decrease was due to the declining Spanish market, as well as the British pound’s depreciation.

The company did, however, record an increase of 3.4% in its earnings before interest, taxes, depreciation and amortization (EBITDA) to €613.3 million for the same period.

The company’s revenues were dominated by activities in Spain, where 51.7% of its sales were recorded. The UK attributed to 15.4%.

The company recorded 5.5% of its EBITDA from its construction operations, while environmental services dominated its earnings at 51.9%.

Last December, FCC approved a capital increase of around €709.5 million by issuing over 118 million new shares for a unit price of €6 each.

FCC said at the time that its primary aim was to reinforce the company's capital structure and reduce its level of debt.

Newsletter

Delivered directly to your inbox World Construction Week features the pick of the breaking news stories, product launches, show reports and more!

Sign up for free

Newsletter

Delivered directly to your inbox World Construction Week features the pick of the breaking news stories, product launches, show reports and more!

Go to newsletters