Ferrovial reports strong financial performance

Ferrovial continue to deliver strong results in 2023. Photo: Ferrovial

Revenue for the same period amounted to €6.2 billion, a 12.3% increase compared with the same period in 2022.

The company said all its business units had experienced “robust” operating performance during this period.

Notably, Ferrovial’s Toll Road division saw a 41.2% increase in revenue to €781 million in like-for-like terms, with the US market accounting for 82.7% of this division’s revenue.

Within the company’s Airports division, the UK’s Heathrow stands out, with passenger numbers reaching 59.4 million during the first nine months of 2023, representing a 34.4% year-on-year increase.

Construction revenue growth

The Construction division reported €5.14 billion in revenue, an 8.5% increase in like-for-like terms, with an EBIT (earnings before interest and taxes) of €35 million.

In the Energy Infrastructure and Mobility unit, revenue increased by 16.8% in like-for-like terms to €253 million, achieving €10 million in EBITDA during the period.

Ferrovial maintained a strong financial position throughout the first nine months of 2023, with €4.92 billion in liquidity.

The construction backlog also maintained a positive pace, ending the period at €14.9 billion, not including approximately €2.5 billion in pre-assigned contracts.

In Europe, Ferrovial subsidiary Budimex is part of a consortium set to build a high-speed railway line in Latvia worth €3.7 billion, and the company was recently selected as part of a consortium, to construct a commuter railway line in Barcelona.