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Profit up at Ferrovial

31 Oct 12 Business outside Spain has offset declines in Ferrovial’s domestic market, giving the company €488.5m (£392.7m) in net profit in the first nine months of 2012, up 1.4% year-on-year.

Major new contracts includes 25 years of maintenance services in Sheffield, construction of the East Extension of the 407 ETR in Canada and US Route 460 in Virginia, as well as work in Spain for the Padornelo and Del Espino high-speed rail tunnels.

Sales outside Spain accounted for 63% and international projects accounted for 63% of the combined construction and services backlog, which totalled €22.46bn. This does not include the contract to build US Route 460 in Virginia.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) in the first nine months expanded by 10.3% to €660m. Sales in the period totalled €5.653bn, an improvement of 2.5%.

EBITDA increased notably at the company's two main assets: by 10.1% at Heathrow airport and by 9.2% at Canadian toll road 407 ETR.

Ferrovial obtained €207m in dividends from toll roads and airports.

Budimex, in Poland, registered 17.3% growth in revenues, and Webber showed improvements of more than 30% in its main operating areas. Amey's EBITDA rose by 11.4%.

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