Ferrovial see 8.3% increase in construction division revenue
28 July 2023
Ferrovial reported that the company has achieved a significant increase in net profit, reaching €114 million in the first half of 2023 compared to €52 million in the same period of 2022.
This growth is said to have been primarily driven by the company’s infrastructure assets, which showed robust performance with higher revenue and improved margins.
Total revenue for the first half reached €3,940 million, showing a strong 12.2% increase compared to the €3,534 million reported in the same period of 2022. Ferrovial says that they remain financially stable with a liquidity position of €5,521 million and net cash, excluding infrastructure projects, standing at €819 million.
The Construction division reported a revenue of €3,258 million during the first half, marking an 8.3% increase compared to the same period in 2022. However, the division was impacted by the completion of large infrastructure projects in the United States, which is scheduled to be finalized this year.
Despite this, the Construction backlog remained robust, concluding the period at €14,857 million, excluding approximately €1,730 million in pre-assigned contracts.