FCC will seek partners to develop its new division renewable energy while maintaining its policy of "strict control" investment and debt reduction, announced the group's president, Falcones.
The company remains controlled by Esther Koplowitz and "talks with potential investors interested" in both capital into Energy FCC on the development of different projects or even to accompany subsidiary in its jump to other markets .
The new division of the FCC develops clean energy projects and renewable generation in Britain, and also analyzes the markets Portugal, Italy and Poland. The aim is that energy accounts for 20% of gross profit Group operating within four or five years, compared to 2.6% rate assumed in 2010. The other two businesses 'core business' of the company (infrastructure and cement and services) generated another 40% each.
FCC will, at the path that opened last year with the signing of an agreement with Japan's Mitsui to develop thermal plants. "All our future investment in this division will be part of an agreement with financial investors interested in investing long-term renewable asset, not to press the 'capex' (investment in business development) future of the company to double the capacity we have in renewable without additional resources, "said Falcone during a meeting with the press to present the results of 2010.
currently has a portfolio of energy FCC for its" medium development and long-term "150 megawatts (MW) thermal power plant (three plants of 50 MW each), plus 100 MW wind assets made recently in the public tender in Catalonia.
This is part one of the main objectives of FCC for the next year to reduce its debt. In 2011 hopes to place it below 7,500 million, from 7,750 million end of 2010.
Bonus 800 000 000
In this sense, the FCC chairman said the group keeps an eye on the "opportunities and windows" that open in the market for the two issues bond for which it is authorized by the board for a total of 800 million euros (one convertible to 500 million euros and another single by 300 billion).
debt cut will also help the continuing policy of rotation and non-strategic asset sales that FCC expects to continue in 2011 after selling the car in 2010 and ITV's . Among them may include concessions mature assets in the U.S. cement.
continue with its process of internationalization is the other major strategic objective of FCC, with the ultimate goal of obtaining 66% outside of its total sales by 2013. To do this, in addition to its strategic OECD countries, the company analyzes other emerging markets in Latin America.
construction in Spain, bottomless
In fact, the company relies foreign market virtually all the growth expected in 2011 in its different business areas. The chairman of the FCC believes that the decline in construction sector in Spain has not yet hit bottom.
However, Falcone estimated budget of 2011 may have "slack" to reconsider part of cutting investment in public works announced by Works, since the data deficit and economic growth in Spain are overcoming original objectives.
Another focus of the national market that remains attentive FCC is the privatization of Cattail and Canal de Isabel II in Madrid, processes that will address through its non-environmental services subsidiary Versia.
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