Operating profit improved across all business lines in the first half of 2011. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) amounted to €1.014bn, 18.4% more than in the same period of 2010 in like-for-like terms. Revenue was €4.874bn, a 2.4% increase in like-for-like terms.
Ferrovial ended the first six months of 2011 with a construction and services order book amounting to €22.788bn. Two thirds of the work backlog in construction is outside Spain and 50% in the case of services.
The services division attained €1.346bn in revenue in the first half of 2011 – a 5.7% growth in like-for-like terms, while EBITDA amounted to €143m, an increase of 7.8%. Amey increased revenue by 8% in like-for-like terms to €583 million euro due to starting up the street infrastructure maintenance contract in Birmingham and also to performance of the London Underground maintenance contract, among others. Its order book amounted to €6.408bn.
Overall, the service division’s backlog of work increased by 4.2% to €12.893bn, including other new contracts such as a waste treatment plant in Catalonia and the contract for waste collection and processing in Murcia.
EBITDA increased notably at the company's two main assets: by 29% at Heathrow airport and by 8% at the 407 ETR Canadian toll road.
The construction division obtained €1.985bn in revenue and €103m in EBITDA in the first half of 2011. The backlog remained stable at €9.895 billion euro. The international backlog amounted to €6.665bn, due to new contracts at Webber and Budimex and the Crossrail project awarded to Ferrovial in the UK, which is worth €184m.
The Polish subsidiary increased revenues by 48.3% to €549m and EBITDA by 46.6% to €32m. Webber's backlog increased by 7% to €1.5bn due to new highway contracts in Texas (H-290, US-75 and IH-35). Revenue in the domestic market amounted to 895 million euro and the backlog totaled €3.23bn.
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