Ferrovial reduces its losses

Highway tasks managed in Texas are going nicely

Turnover amounted to € 2.603 billion, of which 82% was generated exterior the Group's authentic territory in Spain. Revenue earlier than curiosity, taxes, depreciation and amortization (EBITDA) amounted to a lack of € 116 million attributable to a possible cost of € 345 million within the development sector, associated to potential losses on sure development contracts in the USA. With out this impact, EBITDA would have been 229 million euros. EBITDA was additionally affected by the classification of the companies division as "obtainable on the market".

The corporate mentioned its principal infrastructure has continued to carry out nicely, significantly the managed lane tasks in Texas. EBITDA elevated for 407 Categorical Toll Route (ETR) (+ 7.1%), Heathrow Airport (+ 7%) and North Tarrant Expressway (NTE) Texas toll roads (+ 45.four%) and Lyndon B Johnson Freeway (+ 23.7%), in native forex in all instances.

Ferrovial obtained € 244 million in dividends on the belongings through which it holds a stake: 407 ETR distributed C $ 500 million (£ 312 million), Heathrow £ 200 million and AGS 20 million GBP. The dividend from toll roads has elevated by 10%. The corporate additionally introduced that NTE will distribute a dividend this yr for the primary time.

Internet money, excluding infrastructure tasks however together with the Companies division, amounted to 482 million euros on the finish of the interval. Consolidated web debt amounted to three.926 billion euros.

The order e-book for development amounted to € 11.405 billion, a brand new report of which 88% exterior Spain, significantly in the USA and Poland. This determine doesn’t but embody 1.250 billion euros of worldwide development tasks.

Within the second quarter, Cintra entered into an settlement to promote 65% of the Ausol concession firm to the Meridian Infrastructure Fund for € 447 million. Cintra will retain a 15% curiosity within the dealership. This operation will generate € 474 million of unrecognized capital features within the first half outcomes.

Companies recorded a turnover of three.597 billion euros (+ 10.5%), with an EBITDA of 168 million euros (+ 9.four% excluding the issues of the corporate). 39; Amey to Birmingham). Spain is nicely behaved, with a turnover up 2.eight%, leading to an EBITDA progress of 5.three%. The UK turnover elevated by 22.7%, with an EBITDA of 18 million euros. Worldwide revenues from nations equivalent to the USA, Poland, Chile and Portugal amounted to 331 million euros, a rise of 31.1% at fixed scope and change charges. The Australian subsidiary Broadspectrum achieved a turnover of 816 million euros in the course of the quarter.

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