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Mon June 21 2021

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Ferrovial increases net income

26 Apr 13 Ferrovial increased its net income to €100m (£84m) in the first quarter of 2013, from €7.6m in the same period last year.

Its earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to €181m and revenues came to €1.643bn euro. This compares to €192m in the same period last year, while revenues in the period declined by 1.8% like for like, to €1.643bn.

Contract wins in the period included the design, construction, financing and operation of a new section of the North Tarrant Express in Texas, worth an estimated US$1.38bn.

Key activities in the first quarter of 2013 included the acquisition of Enterprise in the UK and Steel Ingeniería in Chile. The integration of Enterprise into Amey will create a business with 21,000 employees and revenues in excess of €2.6bn. The financial closure of this deal was achieved in early April, after the end of the quarter and so it is not included in these results.  

Amey, sold 40% of its stake of the portfolio of PFI projects to Dutch mutual fund DIF for £37m in March. Following the sale, Amey maintains a 10% stake in that company and operates the contracts. Capital gains totalled €20m. Also in the quarter, Heathrow Airport Holdings  completed the sale of Stansted airport to Manchester Airports Group for £1.5bn.

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