Spanish company Ferrovial increases its income thanks to highways

First Amendment: 01/11/2023 – 00:45

1 minute

In the period from January to September, the group specializing in the construction and management of transport infrastructure achieved sales of 6,221 million euros ($6,583 million), which is 12.3% more than in the same period last year (5,555 million euros), with similar figures, as determined by The group said in a statement.

The total operating profit of Ferrovial – which owns an extensive portfolio of assets around the world – increased by 34.1% compared to the first nine months of 2022, reaching 700 million euros.

But the company did not announce net profits.

“All business units witnessed good operational performance,” the company said. “The most notable were highways, particularly US managed corridors, and airports, highlighting the strength of Heathrow,” he added of the areas that saw notable increases in overall operating results.

London Airport, which recorded growth in domestic and commercial tourism, received 59.4 million passengers between January and September, which is 34.4% more than the same period of the previous year.

This improvement means that Heathrow Airport in September was able to reach its pre-pandemic traffic level, according to Ferrovial.

It also benefited from increased traffic, especially in the US, where the company’s toll road division improved its income by 41.2% in similar figures, to €781 million.

The construction division recorded sales of €5,140 million, representing an 8.5% increase compared to the figures.

Ferrovial sparked intense controversy at the beginning of the year by announcing its desire to move its headquarters to the Netherlands. Despite the reluctance of the progressive government led by socialist Pedro Sanchez, the group finally made its move into effect in June, and is now listed on the Madrid and Amsterdam stock exchanges.

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