Ferrovial’s construction revenue up 14%
11 March 2019
Ferrovial, a Spain-based infrastructure management firm, has seen its revenue increase by 11.3% to €5.74 billion, in comparison with 2017’s results.
This figure is presented without the revenues of the company’s service division which has been classified for sale.
The company’s construction division generated the lion’s share of the revenue, with €5.19 billion in revenue posted for 2018, an increase of 14.3% like-for-like.
Ferrovial’s portfolio includes Budimex, a construction engineering company in Poland which contributed 14.6% greater profits to the group than in 2017.
Another component of Ferrovial – Webber, a US-based infrastructure company – has increased its order backlog by 22.9% like-for-like to over €1.5 billion.
International business is now said to account for 84% of the division’s total work and, looking towards the future, international projects make up 89% of the order backlog.
In total the order backlog for the construction division was €10.97 billion, a fall of 1.6% on the previous year.
The company’s service division has been classified as available for sale after a strategic review.
Revenue for the division amounted to €6.79 billion, a figure which was affected by a selective bidding policy in the UK, offset by the addition of its rail and ministry of defence contracts.
Overall the company’s net profits from continuing operations made up €460 million, 8.6% higher than a year previous.
Ferrovial ended the year with a net cash position, excluding infrastructure, of €1.24 billion including services. Consolidated net debt amounted to €3.65 billion, €186 million higher than in 2017.
EBIT (Earnings before interest and taxes) in 2018 were 10.2% less than the previous year, totalling €138 million.