International gains for Ferrovial
By Sarah Ann McCay21 February 2013
Spanish contractor Ferrovial put in a positive business performance for 2012 with EBITDA achieving €927 million, a jump of 13.4% on 2011 figures. Revenue also showed growth, up 3.2% to €7.7 billion.
However, net profit did drop to €710 million for 2012, down from €1.2 billion in 2011. The company attributed the 42.9% decline to extraordinary gains obtained in 2011 (€1.073 billion).
Ferrovial’s construction division continued on an upward path, with even greater gains seen overseas. The division achieved revenues of €4.3 billion, up 1.9% on 2011, while EBITDA gained 36.8% to €337 million.
According to Ferrovial, greater order intake outside Spain offset the decline in domestic activity caused by cutbacks in government tenders.
The construction backlog amounted to €8.7 billion, of which €6 billion (70%) is for projects outside Spain. New contract wins include the 407 ETR East Extension in Canada, US highway 460 in Virginia, and the Tokamak complex at the ITER (International Thermonuclear Experimental Reactor) in France, in addition to existing contracts such as Crossrail in London.
Polish subsidiary Budimex increased revenues by 7.3%, to €1.4 billion. The company obtained an initial contract to design and build a waste treatment plant in Bialystok, a Cultural Encounter Centre in Lublin, and a runway at Katowice International Airport.
Webber expanded its key figures by over 30% in 2012, with revenues amounting to €592 million and EBITDA of €23 million.