Revenues up at Ferrovial
Ferrovial has reported a net profit of €279m (£242m) in the first nine months of this year together with 6.4% growth in revenue.
The net profit figure was €483m for the same period of 2015, when more ‘extraordinary’ items had made a substantial contribution.
Revenues increased by 6.4% to €7,697m euro and earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to €650m. The company said that this was as a result of good traffic performance by the international construction business, toll roads and airports as well as the integration of Broadspectrum.
The total order backlog reached €34.682bn, of which 79% corresponds to international contracts. Noteworthy new contracts include a section of high-speed railway line in California; the Olsztyn bypass and a number of sections of the S17 and S3 highways, in Poland; maintenance of 370 kilometres of roads in the United Kingdom; highway D4-R7 in Slovakia; and Broadspectrum’s contribution.
Traffic and revenues increased on the 407 ETR toll road in Canada and at Heathrow Airport, with EBITDA rising by 15% and 4.5%, respectively, in local currency terms.
In Construction, revenues totalled €3.033bn, affected by the completion of large projects, although order intake remained strong. Budimex registered growth in revenues of 9.8%, with EBITDA up 55.2%. International activities continued to gain in importance, accounting for 84% of revenues and 82% of the backlog.
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This article was published on 27 Oct 2016 (last updated on 27 Oct 2016).