Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) amounted to €927m, a 13.4% improvement compared with 2011. Revenue was €7.686bn, 3.2% more than in 2011.
In the UK, subsidiary Amey saw its revenues increase by 16.1% and EBITDA by 4.4%.
Ferrovial said 42.9% decline in net profit is attributable to the extraordinary gains obtained in 2011 (€1.073bn). A significant portion of that figure did not represent a cash inflow since it was attributable to the revaluation of Heathrow Airport Holdings (HAH).
Performance of Ferrovial’s businesses outside Spain offset declines in the domestic market resulting from the economic situation. In addtiion to Amey's growth in revenue and earnings, traffic recovered on US toll roads and Budimex expanded revenues by 7.3% in Poland. At Webber, in Texas, revenues rose by 39.2% and EBITDA by 34.5%.
In airports, Heathrow registered an all-time record of 70m passengers. EBITDA increased notably at the company's two main assets: by 9.8% at the 407 ETR in Canada and by 11.9% at Heathrow Airport, supported by increased traffic, higher tolls and fees, and efficient management.
During the year, the company obtained some major contracts, including maintenance services in Sheffield for 25 years, two waste treatment plants in the Canary Islands, concessions for the Highway 407 East Extension in Canada and the A-66 Benavente-Zamora toll road in Spain, construction of Route 460 in Virginia, USA, and the Padornelo and Del Espino tunnels for the high-speed railway to Galicia in Spain.
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