Record backlog for Ferrovial
By Sarah McCay30 July 2014
Ferrovial saw its backlog reach a record high during the first half of 2014, reaching €26 billion, of which 68% represented international contracts.
Revenues for the Spanish firm increased 11% to €4.16 billion. International revenues increased by 14% compared with the same period last year, and accounted for 68% of the total.
Ferrovial’s international construction business expanded to account for 75% of revenues and 71% of the backlog. Ferrovial Agroman obtained its first important projects in Brazil, Saudi Arabia and Australia during the first half of 2014. Total revenues declined by 3%, to €1.8 billion.
Earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 4.8% to €435 million.
The contractor reported a first half net profit of €168 million, compared with €287 million in the same period in 2013 (which included €138 million in capital gains from the sale of Stansted Airport, and other extraordinaries).