Ferrovial kicks off 2025 with strong figures driven by North America

The infrastructure giant Ferrovial has announced a robust start to 2025, with significant growth in its revenue and EBITDA adjusted during the first quarter. The company highlighted the strong performance of its highways in North America as the main driver of this positive result, according to the statement issued today.

 

Ferrovial's adjusted EBITDA reached €309 million in the first quarter, representing a 19,1% increase on a comparable basis compared to the same period last year. Revenue also experienced a considerable increase, reaching €2.059 billion, up 7,4% year-over-year.

 

Ignacio MadridejosFerrovial's CEO, Mr. Ferrovial, expressed optimism regarding these figures, stating: "We saw solid revenue growth across all of our North American assets in the first quarter, driven by strong underlying activity in the regions where they are located. We are delivering the connectivity our customers need."

 

The manager also highlighted the good progress of the division of Construction, which achieved a "vigorous order book" and anticipates "limited exposure to macroeconomic uncertainty."

 

In Canada, 407 ETR delivered excellent results during the first quarter, with double-digit EBITDA growth.

 

Performance by Divisions:

• Freeways: This division experienced a notable 14,1% increase in comparable revenue, reaching €324 million. This growth is primarily attributed to the performance of Express Lanes in the United States, where transaction revenue significantly outperformed inflation. In Canada, the 407 ETR highway also posted excellent results, with double-digit EBITDA growth.
• Construction: The Construction division continued its positive trend, achieving an adjusted EBIT margin of 3,3%, a significant improvement year-over-year. This division's order backlog reached a record high of €17.187 billion, with a significant presence in North America (45%), Poland (24%), and Spain (14%).
• Airports: Regarding the Airports division, Ferrovial highlighted the continued progress of construction on New Terminal One (NTO) at JFK International Airport in New York, which advanced 6% during the first quarter.

 

Solid Financial Position:

 

Ferrovial closed the first quarter of 2025 with a solid financial position, recording liquidity of €5.334 billion and consolidated net debt of -€1.847 billion, excluding infrastructure projects. During the period, the company completed the sale of 50% of AGS Airports for 538 million euros and received 19 million euros in dividends from its projects. In addition, it allocated 156 million euros to shareholder remuneration and invested 152 million euros in capital in the New Terminal One at JFK.

 

With these results, Ferrovial begins the year with a positive outlook, supported by the strength of its operations in North America and a robust order book in its Construction division.