FCC Concesiones achieved a turnover of €81.4 million in the first nine months of 2025, representing a remarkable increase of 38%. This growth is mainly due to the development phase of the Aragón concession (Route 8) and the entry into global consolidation of Ibisan (Ibiza) in Spain. Likewise, the increase in both road and tram traffic has contributed to the positive performance recorded.

By geographical area, most of the revenue is concentrated in Spain, with a total of €77.9 million, representing an increase of 48.4% over the previous year. The Cotuco concession in Mexico accounts for 4.3% of turnover.

Gross operating profit reached €44.6 million, an increase of 8.3% compared to the same period last year, thanks to increased traffic and the addition of new concessions. The operating margin stood at 54.8%, compared to 70.1% in the first nine months of 2024, due to the fact that the road concession in Aragon is currently in the development phase, generating a reduced temporary contribution margin, which will increase when it enters its long-term concession operation phase.

At the end of September 2025, the concession portfolio had fallen very slightly by 2.6% to €3,199 million. This decrease was mainly concentrated in Spain, where the decline was 3%, while internationally the contraction was insignificant.

Operational milestones and contracting

• User traffic on tram concessions grew by between 1.6% and 5.5% in the first nine months of the year compared to the same period last year. More than 33 million passengers used the lines in operation in Murcia, Parla and Zaragoza. Meanwhile, traffic levels (IMD) across all road concessions grew by between 1% and 3% during the first nine months of the year.
• On 26 March, the Barcelona Port Authority awarded us, through World Trade Centre (in which we hold a 24% stake), the Blue Tech Port concession, with a duration of 36 years and an estimated capex of €45 million.
• Between April and May, the last two sections of the A465 motorway between Hirwaun and Dowlais in Wales (co-managed by FCC Concesiones, with a 42.5% stake) came into operation, adding to the three that already came into operation at the beginning of the year. This milestone marks the completion of the construction phase of the contract, which began in October 2020.