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Ferrovial profit jumps 79%

26 Feb 16 Ferrovial has reported a net profit of €790m (£625m) for 2015, representing a 79% increase on the previous year’s results.

The results also show 10% growth in revenue to €9.7bn  and a 4.5% increase in earnings before interest, taxes, depreciation and amortisation (EBITDA) to €1.027bn.

The principal assets - the 407 ETR toll road in Canada and Heathrow Airport - continued to increase traffic, revenues and EBITDA. Traffic on two new managed lanes projects in Texas is exceeding expectations.

Orders are at a record high of €31.5bn, of which 75% corresponds to international business. Construction accounts for €8.731bn of the order backlog.

Ferrovial landed additional contracts in core markets, such as the US, the UK, Poland and Canada, and also in new markets, including Australia and Colombia.

The company said that figures are a result of good business performance, including outstanding growth in airport and toll road traffic and a considerable increase in toll road and construction revenues and EBITDA. International revenues increased by 15% to account for 72% of the total.

Construction increased revenues by 8.8%, EBITDA by 13% and the backlog by 7.9%. This trend was underpinned by good performance by Budimex in Poland, which increased EBITDA by 23% and its backlog by 38%. International revenues increased by 14% due to contributions from new markets such as Australia and the Middle East, as well as continuing performance in established countries such as the US and the UK. The backlog expanded by 7.9% to €8.731bn, 81% of which is international. The main contracts include the Thames Tideway Tunnel in London, highway I-285 in Atlanta and several sections of the S7 and S3 in Poland.

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MPU
MPU

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