Canada’s Ferrovial Road has doubled profits as of September to €230 million

Madrid, 13 (European press)

Highway 407 ETR, the world’s largest concession in which Ferrovial holds a 43% stake, earned C$307 million (€230 million) in the first three quarters of the year, which is an increase of 128% over the same period last year. .

This improvement in results is due to a 35% increase in revenue of $965 million (€720 million), as well as gross operating profit (Ebitda) of $834 million (€622 million), an increase of 39%. .

As the company explained on the occasion of presenting its results, the removal by the state of Ontario (Canada) of all restrictions related to Covid-19 led to an increase in traffic by 17%, which boosted the financial results. company.

The Board of Directors resolved to approve a cash dividend of $0.452 per share, which was paid on Wednesday, October 12th. This is the third dividend distributed since distribution was suspended due to the epidemic. Previous issues were delivered in July ($0.258) and in December last year ($0.387 per share).

Of the total payments, Ferrovial owns 43.23%, the controlling proportion of the contribution through its subsidiary Cintra, while the Canada Pension Plan Investment Board Fund owns 50.01% and SNC-Lavalin, the remaining 6.76%.

The motorway is gradually making a comeback, although it is still far from the C$1,126 million (€840 million) it earned in the same period in 2019, before the health crisis erupted, or the C$423 million (€315 million) profit three three years ago. Years.

Ferrovial acquired this franchise in 1999 for a period of 100 years. Until 2019, he controlled the company as he held a majority stake, but the third shareholder sold 10% to the first, so the latter owns more than 50% of the total.

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Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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