FCC records 31% profit jump in UK

Spanish-owned FCC has reported that its profits in the UK rose by 31% in the 2021 calendar year to €135 million (£115 million), after an “excellent” performance.

FCC said it served 16 million UK citizens, mainly through it's EfW portfolio (picture: Millherhill EfW)

The company’s revenue in the UK rose by 17% to £607 million and now account for 22% of FCC’s global revenues, which includes its operations in Spain, Central Europe and the USA.

Across the entire company, revenues were £2.56 billion with profits of £458 million, a 19% jump on the year.

UK

In the report, FCC said it met the challenge Covid-19 presented them “in every way”.

The UK makes up more than 20% of FCC’s turnover

As the COVID crisis continued to affect the globe, the UK business has been working hand in hand with the UK Government as well as municipal and business clients to ensure that the waste and recycling services offered to citizens and industry were maintained,” the report added.

FCC said it serves over 16 million citizens in the UK, with the bulk (13.5 million) served through its energy from waste (EfW) plants, managing 6.2 million tonnes of waste.

The company said it will invest £10 billion and create 40,000 new jobs over the next decade.

It also generated 177MW of energy from its five EfW facilities ( Allington in Kent, Eastcroft in Nottinghamshire, Greatmoor in Buckinghamshire, Millerhill in Edinburgh, and Lincoln in Lincolnshire).

‘Difficult experiences’

Commenting on the group’s performance, the report said: “Our Group has shared difficult experiences together before, moments of uncertainty that we have always faced together with a positive spirit, convinced we would continue moving forward through hard work and determination. And it has worked.

“By reinforcing our operational elasticity and capacity, and maintaining our strong team spirit, we have managed to continue to set FCC apart in the competitive environment we operate”.

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