| BUSINESS
AREAS CONSTRUCTION The main figures in construction were as follows: |
 |
|||
| Millions of euros |
2000
|
1999
|
%
|
|
|||
| Revenues |
2,969.5
|
2,212.0
|
34.2
|
| Operating profit |
96.0
|
79.2
|
21.1
|
| Operating margin |
3.2%
|
3.6%
|
|
| Backlog |
5,283.0
|
4,022.2
|
31.3
|
|
|||
| Because of the acquisition of Budimex, a homogeneous comparison with the 1999 figures is as follows: |
|
|||
| Millions of euros 1999 |
Construction
|
Budimex
|
Total
|
|
|||
| Revenues |
2,212.0
|
0
|
2,212.0
|
| Operating profit |
79.2
|
0
|
79.2
|
| Margin |
3.6%
|
3.6%
|
|
|
|||
| @ | |||
|
|||
| Millions of euros 2000 |
Construction
|
Budimex
|
Total
|
|
|||
| Revenues |
2,353.8
|
615.7
|
2,969.5
|
| Operating profit |
83.4
|
12.6
|
96.0
|
| Margin |
3.5%
|
2.0%
|
3.2%
|
|
|||
|
Excluding
Budimex, construction operating profit and margin growth was impaired
because of the industrial construction area, which adjusted income
by €8.4 million in order to unify accounting criteria with
the rest of the division.This adjustment did not decrease the construction
margin, but merely implies a delay in recognition. Excluding this
effect, the margin grew to 4.0% (3.6% in 1999). |