Ferrovial reports strong financial performance
02 November 2023
Spanish contractor Ferrovial has reported a 34.1% increase in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) in its financial results for the first nine months of 2023, with the figure standing at €700 million.
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.
