Ferrovial lost 410 million due to the collapse of airport traffic Economie

Ferrovial lost 410 million euros in 2020, compared to a profit of 268 million euros recorded the previous year, as a result of the impact of the epidemic on the movement of airports it controls, which translates into a gap of 447 million euros. EUR, at the same time as his construction business has weathered the economic crisis.

Specifically, London Heathrow Airport – which the Spanish company owns 25% – transported 72.7% fewer passengers, causing revenues to drop 61.7%, while the ASG, which includes Aberdeen, Glaglio and Southampton airports, reduced its sales by 67.4%. . Consequently, the equity method for the airport division resulted in an impact of € 447 million.

In addition to this amount are provisions of 22 million euros from discontinued activities and the judicial decision regarding Autema, a company operating one of its roads in Catalonia, which has an impact of 43 million euros. Another company that has been hit by the crisis is the toll road works, whose sales have decreased by 19.2%, to 405 million euros, also as a result of restrictions on movement and the lack of use of roads in all the countries in which they operate.

Apart from these impacts resulting directly or indirectly from the epidemic, the company headed by Rafael Del Pino managed to increase its global sales level by 4.7% to 6,341 million euros, driven by the good development of the construction business. Thus, the revenue of this division increased by 11.4% to 5,862 million euros, thanks to a batch of projects in the United States and the good performance of the Polish construction company Budimex. In fact, 86% of its construction volume came from its international activity. With all this, the gross operating profit he contributes to the income statement, which excludes depreciation and disposal, came to € 409 million, an increase of 238% over the same data for the previous year.