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Thu April 22 2021

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Ferrovial profits jump 79%

30 Oct 15 Ferrovial has reported its third-quarter results, including rises in revenue and profit along with an order backlog of more than €30bn (£21.5bn).

Its net profit for the third quarter of this year was €483m, an increase of 79% year-on-year.

Revenue amounted to €7.233bn – which was up 11.5% - and earnings before interest, taxes, depreciation, and amortization grew 16% to €815m.

The order backlog stands at €31.288bn, of which 74% corresponds to international contracts. Notable new contracts in the period include the Toowoomba Second Range Crossing, in Australia; the Bucaramanga-Barrancabermeja-Yondó road in Colombia; construction of the central section of London’s Thames Tideway Tunnel; and the waste management contract for the Isle of Wight.

In Construction, profitability was maintained by a disciplined approach to bidding and through cost management, said Ferrovial. Revenues amounted to €3.233bn, up 10%, while EBITDA increased by 15%. The backlog stands at €8.249bn. International activity continued to grown in importance, thanks to a good performance by Budimex and contributions from new countries.  

Ferrovial said that its main assets continued to performed solidly: 407 ETR and Heathrow Airport increased traffic and revenues by 13% and 4.3%, respectively, in local currency terms.

The company said that the results were underpinned by strong operating performance, with all divisions registering double-digit growth. International revenues increased by 16% to account for 72% of total revenues. 

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