FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

For the month of ~~August~~November, 2016 Commission File Number 1-11080

THE ICA CORPORATION
(Translation of registrant's name into English)

Blvd. Manuel Avila Camacho 36
Col. Lomas de Chapultepec
Del. Miguel Hidalgo
11000 Mexico City
Mexico
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F.....x.... Form 40-F.........

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ..... No...x...

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________

Empresas ICA, S.A.B. de C.V.

~~Second~~Third Quarter 2016 Unaudited Results

~~August~~November 2528, 2016, Mexico ~~City~~ City — Empresas ICA, S.A.B. de C.V. (BMV: ICA), announced today its unaudited results for the second quarter of 2016, which ~~have~~ have been prepared in accordance with International Financial Reporting Standards. During the fourth quarter of 2015, the Company ~~suspended~~ suspended the sale of its social infrastructure projects. Accordingly, these projects are no longer classified as available for sale,. ~~and financial~~ICA ~~statements~~is ~~from~~no ~~prior~~longer ~~periods~~consolidating ~~have~~San ~~been~~Martín, ~~restated~~effective ~~for~~on ~~comparability~~the fourth quarter of 2015. In addition, ICA is no longer consolidating ~~San~~Facchina ~~Martín, effective~~as onof the ~~fourth~~third quarter of ~~2015,~~2016 and has been presented as a ~~result~~discontinued ofoperation. ~~the~~Financial ~~reduction~~statements from inprior ~~ICA’s~~periods ~~shareholding~~have been restated for comparability to ~~31.2%~~reflect ~~from~~the ~~51%~~sale suspension of social infrastructure projects and the deconsolidation of Facchina.

· ~~The~~3Q16 Airports and Concessions segments grew 2129% and 52%, respectively ~~over~~versus ~~the same period in the prior year~~3Q15.

· Construction ~~revenues~~Revenues indecreased ~~Mexico~~71% ~~began~~in ~~stabilizing.~~3Q16 ~~The~~versus ~~decrease~~3Q15 inas ~~revenues~~a result of ~~34%~~our ~~versus~~foreign ~~1Q16~~exit ~~was~~strategy, ~~less~~including ~~than~~Facchina, and the ~~66%~~completion ~~drop versus~~of ~~2Q15~~Mexican ~~and~~projects, principally ~~due~~urban toconstruction ~~the slowdown in Facchina’s U~~works.~~S. projects.~~

· Ps. 24,~~999~~531 million net loss generated principally as a result of the effect of a Ps. 12,~~675~~090 million foreign exchange conversion loss, and the recognition of equity value loss in Facchina, as a result of our foreign exit strategy.

· Comprehensive backlog was Ps. 5852,~~630~~776 million at ~~June~~September 3030th, 2016, of which Ps. 2829,~~685~~360 million corresponds to ICA’s ~~participation~~ participation in non-consolidated affiliates and joint ventures.

· The company continues to focus on its operating restructuring process. ~~For~~as ~~the~~well ~~year~~as preparing to ~~date,~~initiate ~~the~~a ~~company~~negotiation ~~has~~with its ~~reduced~~debt-holders ~~cost and~~that ~~expenses~~will byallow ~~50%~~for the conclusion of its financial restructure.

Consolidated Financial ~~and Operating~~ Results

~~Second~~Third quarter ~~consolidated~~Consolidated ~~net~~Revenues ~~revenues~~ decreased 42 35% to Ps. 5,~~281~~060 million from Ps. 97,~~042~~739 million in ~~2Q15~~3Q15. This reduction was principally the result of the ~~termination~~slow-down in Construction ofRevenues caused by the foreign ~~projects~~exit strategy and the completion of urban construction works. 3Q16 Construction Revenues are stabilized compared to 1Q16.

~~Net~~ICA ~~revenues~~3Q16 ofEarnings ~~the~~Report ~~Construction segment decreased to Ps~~ica.mx ~~2,007~~1/ ~~million in 2Q16 from Ps. 5,943 million in 2Q15.~~27

~~The~~Third ~~consolidated~~quarter ~~net~~Consolidated ~~loss~~Adjusted ~~was~~EBITDA went to Ps. 21,~~999~~ 224 million inand ~~2Q16~~24.2% ~~The~~margin ~~net~~from ~~loss~~Ps. ~~was~~1,713 ~~principally~~million ~~the~~and ~~result~~22.1% ofmargin ~~the~~in ~~foreign~~3Q15. ~~exchange~~For ~~conversion~~the ~~loss~~9-month ~~and~~accumulated ~~the~~period, EBITDA ~~decrease~~margin inincreased ~~revenues due~~ to ~~the~~25.3% ~~slow-down~~ in ~~the~~2016 ~~projects~~from 23.0% in ~~Facchina~~2015. ~~Loss~~This ~~per~~margin ~~share~~increase was ~~Ps.~~the ~~5.49~~result ~~(US$~~of ~~1.2~~Concessions ~~per~~and ~~ADS)~~Airport segments growth and a reduction in general expenses.

~~ICA~~The ~~2Q16~~Consolidated ~~Earnings~~Net ~~Report~~loss ~~www~~was Ps.~~ica~~ 4,531 million in 3Q16.mx The foreign exchange conversion loss was Ps. 2,090 million in 3Q16 and Ps 3,920 million for the 9-month accumulated period. Third quarter loss per share was Ps. 8.13 (US$ 1~~/30~~.66 per ADS).

Liquidity and Debt

Total consolidated debt decreased 4~~.53~~% to to Ps. 6465,~~556~~005 million asat ofSeptember ~~June~~ 30, 2016, as compared to Ps. 67,617 million at December 31, 2015. The decrease was principally the result of loan payments made in 1Q16 to Santander, Deutsche Bank, Barclays, and Value that were secured by the pledge of OMA B shares, payment of a working capital line to BBVA Bancomer, and scheduled amortizations of debt of operating projects from December 31, 2016 to September 30, 2016.

Total cash ~~was~~dropped 12% to Ps. 68,~~949~~186 million at ~~June~~ September 30, 2016 from Ps. ~~The~~9,258 ~~16%~~million at December 31, 2015. This total cash reduction was ~~principally~~ generated in ~~non-restricted~~the ~~cash~~Concessions ~~which~~and Construction ~~decreased~~segments ~~from~~to ~~Ps.~~boost ~~3,997~~production ~~million~~ in ~~June~~major ~~2015~~projects tosuch ~~Ps.~~as ~~2,946~~Palmillas ~~million~~– inApaseo ~~June~~El ~~2016~~Grande toll road.

Ps.4,574 million of total cash is restricted and Ps. 3,612 is unrestricted. Ps. 2,736 million of non-restricted cash is in OMA. On November 2016, as means of preparing the execution of new projects including the new NAICM terminal foundation slab project, ICA Promotora de Infraestructura (ICAPI) and Controladora de Operaciones de Infraestructura (CONOISA) disbursed the first tranch of the Fintech convertible loan.

Comprehensive backlog

Comprehensive backlog, including ICA’s share of ~~backlog of~~ unconsolidated affiliates and joint ventures, ~~reached Ps. 58~~backlog,~~630~~ ~~million~~decreased at18% ~~June 30, 2016, a decrease of Ps. 2,127 million compared~~ to ~~March 2016 and a decrease of~~ Ps. 552,~~913~~776 million ~~compared to December 2015. Consolidated backlog was Ps. 29,897 million, down Ps. 1,232 million compared to last quarter. Total backlog of non-consolidated affiliates and joint ventures (principally~~ at ~~ICA~~September ~~Fluor) decreased Ps. 1~~30,~~802~~ ~~million~~2016 tofrom ~~Ps. 60~~64,~~452 million, of which ICA’s proportional share was Ps. 28,685~~543 million at ~~June~~December 3031, ~~2016.~~

* ICA’s ~~proportional~~3Q16 ~~share~~Earnings inReport ~~ICA~~ica.mx ~~Fluor~~2/ ** ICA’s proportional share in other affiliates and joint ventures27

2015, principally due to the foreign exit strategy, execution of construction work in Mexico and the deconsolidation of Facchina.

Civil Construction Backlog decreased 28% to Ps. 23,416 million at September 30, 2016 from Ps. 32,380 million at December 31, 2015, principally due to the foreign exit strategy and the completion of construction works in Mexico.

ICA’s share of unconsolidated affiliates and joint ventures backlog (mainly ICA Fluor) decreased 9% to 29,360 million at September 30, 2016 from Ps. 32,163 million at December 31, 2015 due to construction works execution during this period.

Reduction in Costs and Expenses

~~From~~Technical-administrative ~~January 2015 to July 2016, the~~ workforce ~~has~~ ~~decreased 54%. In the same period, cost and expense~~ has been reduced by 5051%. ~~This efficiency of resources has permitted the company~~ to ~~maintain~~1,773 atas ~~close~~ of ~~2Q16~~September an30, ~~EBITDA~~2016 ~~margin~~from ~~of 20.5%~~3,619 ~~similar~~as toof ~~the~~December ~~20.3%~~31, ~~reported for 2Q15~~2015.

Financial and Operational Restructuring Activities

ICA is currently focused on the consolidation of its operational ~~restructure~~restructuring and ensuring the long term continuity of the business in order to be in the position to define ~~its~~ its financial restructuring plan.

ICA 2Q16 Earnings Report www.ica.mx 2/30

Subsequent Events

On ~~May~~ 27November 3, 2016, the ~~company,~~Board ~~together with its partners in the consortium, presented a mercantile lawsuit against the Government~~ of ~~Mexico~~Directors ~~City~~named ~~(GDF)~~Guadalupe ~~before~~Phillips ~~the~~as Mexico City courts, in order to recover the totality of the debt owed the consortium by the GDF for the construction of Line 12 of the Mexico City Metro, including additional and extraordinary works, maintenance, and rehabilitation, without waiving any of its other claims or existing lawsuitsCEO.

AsOn October a21st, ~~result of~~ the ~~anticipatory~~company ~~termination~~was ofawarded ~~the~~a ~~TEC~~Ps. II7,555 ~~Lazaro~~million ~~Cardenas~~contract ~~Container~~for ~~Terminal,~~ the ~~company~~New ~~and~~Mexico ~~the~~City ~~client~~International ~~are~~Airport in(NAICM) ~~the~~terminal’s ~~arbitration~~foundation ~~phase,~~slab. inThe ~~which~~new ~~the~~contract ~~company~~will ~~continues~~be toreflected ~~assert its rights~~ in the ~~dispute~~Consolidated ~~regarding~~Backlog ~~this~~at ~~project~~December 31, 2016.

On October 6, ADP announced its decision to sell its shareholding in OMA held through SETA, and ICA ~~2Q16~~therefore ~~Earnings~~consolidates ~~Report~~100% ~~www~~of SETA and continues to own directly and indirectly 14.~~ica~~3% of OMA.mx ~~3/30~~

ICA 3Q16 Earnings Report

ica.mx

3/ 27

Business Segment Results

Construction

~~Revenues~~ICA ~~were~~3Q16 ~~Ps.~~Earnings ~~2,007~~Report ~~million in 2Q16 compared to Ps~~ica.mx ~~5,943~~4/ million in 2Q15. The slow-down was caused principally by our exit from international business and termination of projects in Panama, Costa Rica and Colombia. Additionally, slow-downs in Facchina during 2Q16 have contributed to the decrease in construction revenues.27

AnConstruction ~~operating~~Revenues ~~loss~~dropped of71% to Ps. 1,334 ~~726~~million in 3Q16 from Ps. 4,526 million in ~~2Q16~~ 3Q15 . The slow-down was caused principally by ~~the~~our ~~above~~exit ~~described~~from ~~decrease~~international inbusiness including ~~construction~~the ~~revenues~~deconsolidation of Facchina and ~~due~~the tocompletion ~~higher~~of ~~costs~~projects in ~~U.S.~~Mexico ~~projects~~principally in our urban construction business.

Construction ~~backlog~~Operating ~~decreased~~Loss ~~3.4%~~went tofrom Ps. ~~29,897~~24 million atin ~~June~~2Q15 ~~30,~~to ~~2016,~~359 ~~compared~~million in 3Q16 due to ~~Ps.~~the ~~31,129~~slow-down ~~million~~in atConstruction ~~March~~Revenues ~~31,~~and ~~2016,~~the ~~principally~~adjustment ~~due~~applied to ~~our~~the ~~foreign~~estimates in ~~exit~~Mexican ~~strategy~~mostly urban construction projects.

Construction ~~debt~~Net ~~decreased~~Loss ~~from~~increased ~~Ps.~~142% ~~6,398~~to at2,270 ~~December~~million ~~31,~~in ~~2015~~3Q16 tofrom Ps. ~~3,770~~939 million atin ~~June 30, 2016~~3Q15.

~~ICA~~Construction ~~2Q16~~backlog ~~Earnings~~decreased ~~Report~~28% ~~www~~to Ps.~~ica.mx~~ 4/23,416 million at September 30, 2016, compared to Ps. 32,380 million at December 31, 2016, principally due to our foreign exit strategy and the completion of Mexican construction works.

~~ICA~~Construction ~~2Q16~~Debt ~~Earnings~~decreased ~~Report~~42% ~~www~~to Ps.~~ica.mx~~ 3,706 5/million at September 30, 2016 from Ps. 6,394 million at December 31, 2015 due to the payments of guaranteed debt made in the first quarter of 2016.

Construction Cash and Cash Equivalents fell 60% to Ps. 397 million at September 30, 2016 from Ps. 987 million at December 31, 2015.

ICA 3Q16 Earnings Report

ica.mx

5/ 27

Concessions

Revenues from operating concessions rose 9% to Ps. 483 million compared with the second quarter of 2015. The largest revenue increases came from La Piedad Bypass, the Rio de los Remedios toll road, the Mayab toll road and the Río Verde – Ciudad Valles highway. This increase was partially offset by a 14% drop in the Acapulco Tunnel revenues caused by a reduction in traffic volume.

Concessions total revenues increased 5%, in the amount of Ps. 87 million to Ps. 1,878 million in 2Q16 from Ps. 1,791 million in 2Q15. This increase was principally the result of revenue increases in operating projects.

Average daily traffic volumes [(ADTV)] on operating highways increased 5% compared to 2Q15. The largest increases were on La Piedad bypass, the Río de los Remedios toll road and the Mayab toll road with 13%, 5% and 5% increases, respectively. The increase on the consolidated ADTV was offset by a slow-down in the Acapulco tunnel traffic volume of 19% compared to the same period in 2015.

The growth and higher contribution from operating projects revenues to total revenues generated an increase in concessions’ adjusted EBITDA and adjusted EBITDA margin. Adjusted EBITDA rose 12% to Ps. 1,169 million compared to the same period in 2015, while adjusted EBITDA margin increased from 58.5% in 2Q15 to 62.2% in 2Q16.

Debt of the concessions segment was Ps. 29,252 million at June 30, 2016, a decrease of 4% compared to June 30, 2015. Of total debt, 82% is debt for projects in operation and 18% is debt related to projects in construction.

ICA 2Q16 Earnings Report www.ica.mx 6/30

Concessions Operating Information

ICA ~~2Q16~~3Q16 Earnings Report ~~www.~~ica.mx 76/30 27

Total Concessions Revenues rose 2% to Ps. 2,023 million in 3Q16 from Ps. 1,987 million in 3Q15. The increase came principally from revenues from the operating concessions, which were partially offset by a slow-down in Revenues from concessions under construction.

Operationing concessions revenues increased 9% to Ps. 1,026 million in 3Q16 from Ps. 938 million in 3Q15. The increase came from La Piedad bypass, Mayab toll road, Rio de los Remedios toll road and Rio Verde – Ciudad Valles toll road and was partially offset by a 6% decrease in the Acapulco tunnel revenues caused by decrease in traffic volume.

Revenues from concessions under construction decreased 21% to Ps. 997 million in 3Q16 from Ps. 1,049 million in 3Q15. The reduction was caused by a slow-down in Mitla – Tehuantepec highway and Diamante Tunnel construction works, and the suspension of Barranca Larga – Ventanilla Highway construction works.

Concessions Adjusted EBITDA dropped 23% to Ps. 842 million in 3Q16 from Ps. 1,096 million in 3Q15

principally due to the fair value adjustment of the Mitla – Tehuantepec highway and Diamante Tunnel.

Concessions Net Loss went to Ps. 508 million in 3Q16 from Ps. 70 million in 3Q15 principally due to the fair value adjustment of the Mitla – Tehuantepec highway.

Average daily traffic volumes (ADTV) on operating highways increased 13% to 4,263 million vehicles in 3Q16 from 3,758 million vehicles in 3Q15 caused by an ADTV increase in all operational concessions except for the Acapulco Tunnel.

Concession debt decreased 9% to Ps. 27,818 million at September 30, 2016 from Ps. 30,534 million at December 31, 2015 principally due to the operational concession debt payments. Of this total debt, 83% is debt for projects in operation and 17% is debt related to projects in construction.

Concessions cash and cash equivalents dropped 7% to Ps. 4,692 million at September 30, 2016 from Ps. 5,042 million at December 31, 2016. The drop was caused principally by the resource application to the construction works in Palmillas – Apaseo El Grande highway.

Restricted ash and cash equivalents in concessions was Ps. 4,445 million at September 30, 2016 and is mainly administered in OVT, Sarre, Pápagos and Palmillas – Apaseo El Grande.

ICA 3Q16 Earnings Report

ica.mx

7/ 27

Airports

Airports Revenues increased 29% to Ps. 1,~~327~~481 million in ~~2Q16,~~3Q16 anfrom ~~increase~~Ps. of1,146 ~~21%~~million ~~compared~~in ~~to 2Q15~~3Q15. ~~This~~Aeronautical ~~growth~~revenues ~~resulted~~grew ~~from: i) a 26~~37% ~~increase~~and inNon-Aeronautical ~~aeronautical~~ revenues ~~and~~grew ~~a 26~~3%. ~~increase~~These inincreases ~~non-aeronautical~~were ~~revenues;~~the iiproduct of i) the opening of 1112 domestic routes; ~~iii) strengthening of diversification activities~~ and ivii) ~~steady improvement~~specific intariff ~~commercial~~hikes ~~activities~~during 3Q16.

~~Airport~~Airports ~~construction~~Adjusted ~~revenues~~EBITDA ~~and~~increased ~~costs~~38% ~~are~~to ~~not~~Ps. ~~operational~~816 ~~and~~million ~~represent~~in ~~the~~3Q16 ~~total~~from ~~value~~Ps. of593 ~~airport~~million ~~asset~~in ~~additions~~3Q15. ~~These~~This ~~non-cash~~increase ~~items~~has ~~don’t~~a ~~have~~direct ancorrelation ~~effect~~to ~~on operating~~Revenues ~~income,~~growth ~~adjusted~~described ~~EBITDA nor net profit~~previously.

~~Adjusted~~Airports ~~EBITDA~~Net ~~increased~~Income 41rose 67% to Ps. ~~742~~869 million in ~~2Q16,~~3Q16 ~~with~~from aPs. ~~margin~~521 ofmillion 55in 3Q15.~~9%.~~

~~Debt~~Passenger intraffic ~~the~~volumes ~~Airports~~increased ~~segment~~12% to ~~was Ps~~5.1 ~~4,699~~ million atpassengers ~~June~~in ~~30,~~3Q16 ~~2016,~~from ~~a decrease of~~ 4~~% compared to December 31, 2015~~.6 ~~The~~million ~~ratio~~in of3Q15 ~~net~~principally ~~debt~~due to ~~Adjusted~~the ~~EBITDA~~opening ~~was~~of 1domestic routes.~~86.~~

~~Passenger~~ICA’s ~~traffic~~shareholding ~~volumes~~in ~~increased~~OMA, 9%direct toand 4indirect, was 14.532% ~~million~~at ~~passengers~~September in30, ~~2Q16~~2016. ~~Domestic~~Among ~~passenger~~other ~~traffic~~factors, ~~grew~~ICA’s 10holding of 74.5% of SETA, the strategic partner of OMA that holds all OMA’s Series BB shares and ~~international~~among ~~passenger~~other ~~traffic~~factors ~~decreased~~enables 2%ICA to exercise control of OMA.

~~ICA’s~~Debt ~~shareholding~~ in ~~OMA,~~the ~~direct and~~Airports ~~indirect,~~segment ~~was~~dropped ~~14.32~~4% to Ps. 4,698 million at ~~June~~September 30, 2016. ~~Among~~from ~~other~~Ps. ~~factors~~4,878 ~~ICA’s~~million ~~holding~~at ofDecember ~~74.5% of SETA~~31, ~~the~~2015 ~~strategic~~due ~~partner~~to ~~of OMA~~debt ~~that~~payments ~~holds~~made ~~all~~throughout ~~OMA’s~~the period. ~~Series~~The BBratio ~~shares,~~of ~~enables~~net ~~ICA~~debt to ~~exercise~~Adjusted ~~control~~EBITDA ofwas ~~OMA~~0.87x.

Airports Cash and cash equivalents increased 1% to Ps. 2,737 million at September 30, 2016 from Ps. 2,697 million at December 31, 2016. This growth was caused by cash in-flow from the operation.

The Airports segment includes Grupo Aeroportuario del Centro Norte (known as OMA), Aeroinvest (now merged into Controladora de Operaciones de Infraestructura), and Servicios de Tecnología Aeroportuaria (SETA). The earnings report of GACN, which is the operating company in the Airports segment, can be found at http://ir.oma.aero. Those results differ from the ones presented here as a result of consolidation effects.  

ICA ~~2Q16~~3Q16 Earnings Report ~~www.~~ica.mx 8/30 27

Consolidated Results for the ~~Second~~Third Quarter 2016

Revenues were Ps. 5,~~281~~060 million in ~~2Q16~~3Q16, a reduction of 4235% compared to the prior year period. The reductions were principally the result of the 6671% reduction in Construction segment ~~revenues~~Revenues partially offset by the increase in operating project revenues from the Concessions segment and increase in Airport ~~revenues~~Revenues.

Cost of sales was Ps. 43,~~141~~382 million in ~~2Q16~~3Q16 compared to Ps. 75,~~371~~895 million in ~~2Q15~~3Q15; the reduction was in line with the decrease in ~~revenues~~Construction Revenues.

Selling, general and administrative expenses decreased 1951% to Ps. ~~528~~408 million in ~~2Q16~~3Q16, and were equivalent to 108% of ~~revenues.~~consolidated ~~The accumulated reduction from January 2015 is 50%, approximately~~Revenues.

Other Income (expense), net was a Ps. ~~109~~409 million expense, principally due to ~~restructuring~~the ~~expenses~~fair value adjustment in Mitla – Tehuantepec highway and Diamante Tunnel.

Operating income was Ps. ~~502~~881 million representing a 5725% reduction, caused by the ~~66%~~ drop in Construction ~~revenues~~Revenues.

Adjusted EBITDA was Ps. ~~957~~1,224 million in ~~2Q16,~~3Q16 ~~maintaining~~with a ~~margin of 18~~24.12%, ~~compared with a~~ margin ~~of 18~~.~~5% in 2Q15.~~

ICA ~~2Q16~~3Q16 Earnings Report ~~www.~~ica.mx 9/30 27

Comprehensive financing cost was Ps. 24,~~955~~018 million in ~~2Q16~~3Q16, ~~representing~~the aforeign ~~69%~~exchange ~~increase~~conversion ~~compared~~loss toincreased ~~2Q15. This increase in comprehensive financing costs is principally due~~ to ~~the~~ Ps. 12,~~675~~090 million ~~foreign exchange conversion loss~~.

Share in earnings of affiliated companies and joint ventures was a Ps. ~~225~~123 million ~~loss~~gain in ~~2Q16~~3Q16 principally affected by athe ~~loss~~results inof ICA Fluor ~~caused~~and ~~by a recognition of a contingency reserve for possible cost over-run in~~ Los ~~Ramones project~~Portales.. Supplemental information on the performance of affiliates and joint ventures is presented in the Notes.

Taxes reached Ps. ~~321~~633 million, and were affected by the charge, conservatively, on the asset for tax losses generated in the quarter by ICA and some of its subsidiaries. The Company does not lose the right to use these tax losses before they expire in accordance with tax law.

Consolidated net loss was Ps. 24,~~999~~531 million in ~~2Q16~~3Q16.

Net loss of the controlling interest was 34,~~357~~970 million in ~~2Q16~~3Q16. The loss per share was Ps. 58.4913 and US$ 1.2066 per ADS.

ICA ~~2Q16~~3Q16 Earnings Report ~~www.~~ica.mx 10/30 27

Capital Investments and Divestments

During ~~2Q16~~3Q16, the company invested approximately Ps. 1,~~062~~104 million, principally in the construction works of Palmillas – Apaseo El Grande with Ps. ~~703~~752 million and the ~~Tunnel~~ Diamante Tunnel with Ps. ~~164~~240 million and Airports with Ps. 112 million.

During the second quarter, the company sold investments and assets totaling Ps. 314 million. The most important transactions were a sale of shares for Ps. 120 million, sale of long-term assets for Ps. 143 million and the sale of real estate assets for Ps. 51 million.

Debt and Liquidity

~~Total~~ICA ~~debt~~3Q16 asEarnings ofReport ~~June 30, 2016 decreased by a net Ps~~ica.mx ~~3,061~~11/ million compared to December 30, 2015. Total accumulated debt payments and amortization were Ps. 5,892 million, and included principally payment of loans from Santander, Deutsche Bank, Barclays, and Value that were secured by OMA B shares, the payment of a working capital line to BBVA Bancomer, and scheduled amortization of debt of operating projects. Disbursements, principally related to concessioned highways under construction, totaled Ps. 1,016 million in principal and Ps. 1,473 million in total. Disbursements come principally from the Palmillas – Apaseo el Grande and the Diamante Tunnel projects. Other effects, including currency fluctuations, were Ps. 1,370 million.27

~~ICA~~Total ~~2Q16~~debt ~~Earnings~~as ~~Report~~of ~~www~~September 30, 2016 decreased 4% to Ps.~~ica~~ 65,006 million from Ps.mx ~~11/~~67,617 million at December 31, 2015. The reduction is principally due to the loan payments made in 1Q16 to Santander, Deutsche Bank, Barclays, and Value that were secured by OMA B shares, the payment of a working capital line to BBVA Bancomer, and scheduled amortization of debt of operating projects from December 31, 2015 to September 30, 2016.

~~Beginning~~Total incash ~~the~~and ~~fourth~~cash ~~quarter~~equivalents ~~of 2015,~~decreased ~~the~~12% ~~company~~to ~~announced~~Ps. ~~the~~8,136 ~~suspension~~million ofat ~~payments~~September ~~on unsecured debt~~30, ~~this~~2016 ~~suspension~~from ~~includes~~Ps. ~~interest~~9,258 ~~coupons~~million onat ~~the~~December ~~Notes due in 2017~~31, ~~2021, and 2024~~2015. This ~~decision~~reduction ~~resulted~~was in the ~~balance~~result ~~sheet reclassification to short-term~~ of ~~certain debt obligations~~the inresource ~~the~~application ~~Construction~~to ~~and Concessions segments and~~ the ~~three~~construction ~~corporate~~works ~~bonds~~execution ~~that became due once there was a non-compliance on payment obligations. A total of Ps.29, 287 million~~ in ~~debt~~Palmillas ~~was~~– ~~reclassified~~Apaseo toEl ~~short~~Grande ~~term.~~highway,

~~Total~~Of ~~cash~~total ~~was~~consolidated ~~Ps.~~cash ~~6,949~~and ~~million~~cash ~~at June 30~~equivalents, ~~2016. Of this,~~ Ps. 4,~~003~~574 million was restricted cash, and Ps. 23,~~946~~616 million was unrestricted, of which Ps. 12,~~916~~736 million was unrestricted cash held at OMA. Restricted cash is principally administered in OVT, Sarre, Papagos and Palmillas – Apaseo El Grande.

~~ICA~~Beginning ~~2Q16~~in ~~Earnings~~the ~~Report~~fourth ~~www~~quarter of 2015, the company announced the suspension of payments on unsecured debt, this suspension includes interest coupons on the Notes due in 2017, 2021, and 2024.~~ica~~ This decision resulted in the balance sheet reclassification to short-term of certain debt obligations in the Construction and Concessions segments and the three corporate bonds that became due once there was a non-compliance on payment obligations.mx ~~12/~~A total of Ps.30,265 million in debt was reclassified to short term.

~~ICA~~Of ~~2Q16~~total ~~Earnings~~debt ~~Report~~at ~~www~~September 30, 2016, 78% was securities debt, and 22% was bank debt.~~ica~~ Debt denominated in foreign currency, principally dollars, was 49% of the total.mx ~~13/30~~Short-term maturities represent 50% of total debt; project-related debt represents 56% and parent company debt represents 44%.

OfICA ~~total~~3Q16 ~~debt~~Earnings atReport ~~June 30, 2016, 76% was securities debt, and 24% was bank debt~~ica.mx ~~Debt~~12/ denominated in foreign currency, principally dollars, was 46% of the total. Short-term maturities represent 49% of total debt; project-related debt represents 60% and parent company debt represents 40% of short-term maturities, directly reflecting the administration’s efforts to reduce secured parent company debt.27

ICA 2Q16 Earnings Report www.ica.mx 14/30

Consolidated Financial Statements

ICA ~~2Q16~~3Q16 Earnings Report ~~www.~~ica.mx 1513/30 27

ICA ~~2Q16~~3Q16 Earnings Report ~~www.~~ica.mx 1614/30 27

ICA ~~2Q16~~3Q16 Earnings Report ~~www.~~ica.mx 1715/30 27

ICA ~~2Q16~~3Q16 Earnings Report ~~www.~~ica.mx 1816/30 27

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Annexes: Supplemental Information

Construction Backlog

~~ICA~~Concessions ~~2Q16 Earnings Report www.ica.mx 23/30~~Portfolio

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Non-Consolidated Affiliates and Joint Ventures

Construction

Includes principally the results of ICA Fluor (51%), San Martín (31.2%) and the construction companies for the Nueva Necaxa- Tihuatlán highway (60%).

Non-Consolidated Backlog

AtICA ~~June~~3Q16 ~~30,~~Earnings ~~2016,~~Report ~~non-consolidated backlog totaled Ps~~ica.mx ~~60,451~~22/ ~~million.~~27

At September 30, 2016, ICA’s ~~2Q16~~participation in ~~Earnings~~non-consolidated ~~Report~~backlog ~~www~~dropped 9% to Ps.~~ica~~ 29,360 million from Ps.mx ~~25/30~~32,163 million at December 31, 2015 due to the execution of construction works during this period. Of this amount, Ps. 48 million corresponds to ICA’s participation in San Martin projects.

New contracts and net contract additions were Ps. 2,484 million. The most significant were ICA Fluor projects such as DUBA Madero, Tula 4 A Packet, Tula Cocker Plant, Los Ramones South Gasoduct, and San Martin mining construction projects among others. ICA’s proportionate share is Ps. 1,134 million.

Concessions

Includes principally the concessions for the Nuevo Necaxa - Tihuatlan highway (50%) and the Mitla – Tehuantepec toll road (60%).

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Corporate and Other

Includes principally Actica (50%) and Los Portales in Peru (50%).

Notes and Disclaimer

The unaudited condensed consolidated financial statements of Empresas ICA, S.A.B. de C.V. and subsidiaries have been prepared in accordance with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and presented in accordance with IAS 34 “Intermediate Financial Reporting”. These financial statements include all the adjustments, including those of a normal and recurring nature, required for an adequate presentation of the results of operations. Results for interim reporting periods may not be indicative of full year results. As a result, the reading and analysis of these interim financial statements should be done in conjunction with the financial statements for the year ended December 31, 2015, which were also prepared under IFRS.

Unaudited financials: Financial statements are unaudited statements.

Prior period comparisons: Unless stated otherwise, comparisons of operating or financial results are made with respect to the comparable prior-year period,. ~~or balances~~Percentages asmay vary due to the consideration of ~~December~~the ~~31,~~units’ ~~2015~~numbers+.

Percentage changes: Are calculated based on actual amounts.

Adjusted EBITDA: Adjusted EBITDA is not a financial measure computed under IFRS and should not be considered an indicator of financial performance or free cash flow. We define Adjusted EBITDA as net income of controlling interest plus (i) net income of non-controlling interest, (ii) discontinued operations, (iii) income taxes, (iv) share in net income of affiliates, (v) net comprehensive financing cost, (vi) depreciation and amortization, and (vii) net interest expense included in cost of sales. Our management believes that Adjusted EBITDA provides a useful measure of its performance, supplemental to net income and operating income, because it excludes the effects of financing decisions, non-controlling shareholdings, and other non-operating items. The calculation of Adjusted EBITDA is also provided as a result of requests from the financial community and is widely used by investors in order to calculate ratios and to make estimates of the total value of our company in comparison to other companies. Financial ratios calculated on the base of Adjusted EBITDA are also widely used by credit providers in order to gauge the debt servicing capacity of

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~~EBITDA are also widely used by credit providers in order to gauge the debt servicing capacity of~~ companies and are relevant measures under one or more of our or our subsidiaries’ financing agreements.

Exchange rate

Amounts in U.S. dollars (US$) are converted at an exchange rate of Ps. 1719.~~3361~~5965 per U.S. dollar as of ~~March~~September 3130, 2016, and Ps. 1417.~~9524~~1149 asper ~~of March 31, 2014, and Ps~~U. 17S.~~3398~~ dollar as of ~~December~~ ~~31,~~September 30, 2015.

Financial Derivative Instruments

ICA enters into financial derivative contracts in the subsidiaries where projects are located solely in order to reduce the uncertainty on the returns on projects. The instruments entered into are established on a notional amount. Interest rate derivatives are used in order to fix maximum financial costs. Exchange rate derivatives are entered into in order to reduce the exchange risk on projects that incur labor and materials costs in a currency different from the currency of the financing of the project, as well as to convert foreign debt into domestic currencies. ICA enters into its financings in the same currency as the source of repayment. ICA has a policy of not entering into derivatives for speculative purposes.

From an accounting perspective, there are two classifications for derivative instruments. “Hedging financial instruments” must meet the specific requirements established in IFRS. Other derivative financial instruments that do not meet IFRS requirements for hedge accounting treatment are designated as trading derivatives.

ICA values all derivatives at fair value. Fair value is based on market prices for derivatives traded in recognized markets; if no active market exists, fair value is based on other recognized valuation methodologies in the financial sector, validated by third party experts, and supported by sufficient, reliable, and verifiable information.

Fair value is recognized in the balance sheet as an asset or liability, in accordance with the rights or obligations derived from the contracts executed and in accordance with accounting norms. For hedging derivatives, changes in fair value are recorded temporarily in other comprehensive income within stockholders’ equity, and are subsequently reclassified to results at the same time that they are affected by the item being hedged. For trading derivatives, the fluctuation in fair value is recognized in results of the period as part of Comprehensive Financing Cost.

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Glossary

ADTV: Average Daily Traffic Volume is the number of vehicles that travel the entire length of a highway.

Concessions Revenues are composed of the following:

Operating revenue from concessions: includes tolls and fee payments from the government for the availability of PPP roads and or tariffs based on traffic volume, according to the type of concession.

Operations and maintenance: revenue from the provision of services for operating and maintaining highways for non-consolidated affiliates.

Financial income: results from the i) reimbursement of the cost of financing obtained to build infrastructure assets granted under concession arrangements and ii) interest income earned on concession assets accounted for as long-term accounts receivable.

Construction: the revenue recognized by the concessionaire for costs that are not attributable to the construction company.

PPP: Public-Private Partnership is a legal mechanism that enables a private sector company to provide services to the federal, state, or municipal government clients through fixed term licenses, generally from 20 to 40 years, to finance, construct, establish, operate, and maintain a public means of transportation or communication. The client’s payment consists of a fixed payment for the availability of the highway together with a minimum shadow tariff based on traffic volume.

ICA OVT: Operational platform that holds the concessions for four projects: the Acapulco Tunnel, the Mayab toll road, the Rio Verde-Ciudad Valles highway, and the La Piedad Bypass. ICA has 51% ownership and CDPQ has 49%.

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Analyst coverage

In compliance with the regulations of the Mexican Stock Exchange, the following is the list of analysts that cover ICA’s securities:

Actinver - Ramón Ortiz

BBVA Bancomer - Francisco Chávez

Banorte-Ixe - José Itzamna Espitia

Barclays - Pablo Monsivais

Intercam – Alejandra Marcos

Monex - Roberto Solano

UBS - Marimar Torreblanca

Invex – David Arenas

This press release contains projections or other forward-looking statements related to ICA that reflect ICA’s current expectations or beliefs concerning future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include cancellations of significant construction projects included in backlog, material changes in ~~the~~ the performance or terms of our concessions, additional costs incurred in projects under construction, failure to comply with ~~covenants~~ covenants contained in our debt agreements, developments in legal proceedings, unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms, changes to our liquidity, economic and political conditions and government policies in Mexico or elsewhere, changes in capital markets in general that may affect policies or attitudes towards lending to Mexico or Mexican companies, changes in inflation rates, exchange rates, regulatory developments, customer demand, competition and tax and other laws affecting ICA’s businesses and other factors set forth in ICA’s most recent filing on Form 20-F and in any filing or submission ICA has made with the SEC subsequent to its most recent filing on Form 20-F. All forward-looking statements are based on information available to ICA on the date hereof, and ICA assumes no obligation to update such statements.

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to obtain additional debt or equity financing on attractive terms, changes to our liquidity, economic and political conditions and government policies in Mexico or elsewhere, changes in capital markets in general that may affect policies or attitudes towards lending to Mexico or Mexican companies, changes in inflation rates, exchange rates, regulatory developments, customer demand, competition and tax and other laws affecting ICA’s businesses and other factors set forth in ICA’s most recent filing on Form 20-F and in any filing or submission ICA has made with the SEC subsequent to its most recent filing on Form 20-F. All forward-looking statements are based on information available to ICA on the date hereof, and ICA assumes no obligation to update such statements.

Empresas ICA, S.A.B. de C.V., carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads, water systems, and real estate. Founded in 1947, ICA is listed on the Mexican stock exchange. For more information, visit ir.ica.mx.

For more information, contact:

Christianne Ibáñez

christianne.ibanez@ica.mx

relacion.inversionistas@ica.mx

+(5255) 5272 9991 x 3607

Pablo García

pablo.garcia@ica.mx

Chief Financial Officer

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: ~~August~~November 2629, 2016 Empresas ICA, S.A.B. de C.V. /s/ Pablo Garcia Name: Pablo Garcia Title: Chief Financial Officer

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