Ferrovial has presented its financial results for 2025, a year in which it achieved revenues of 9.627 millones de euros and a 12,2% increase in its adjusted EBITDA. The strong performance in the divisions of Freeways y Construction en North America It has been the main engine of growth for the global company.
Financial results and operating profitability
During the 2025 year, Ferrovial It recorded revenue of €9.627 billion, representing year-on-year growth of 8,6% on a like-for-like basis. Adjusted EBITDA climbed to €1.457 billion. Meanwhile, net profit It stood at 888 million euros, a figure that reflects the normalization of the balance sheet after the exceptional capital gains obtained the previous year from the rotation of strategic assets.
The CEO of the firm, Ignacio Madridejos, has described the year as "outstanding", highlighting in particular the organization's entry into the index Nasdaq-100 in December. "Our assets in North America They have behaved particularly well, and the business of Construction "It has exceeded its profitability target," the executive noted.
| Financial Indicator 2025 | Value (Millions €) | Variation (Comp.) |
|---|---|---|
| Total Revenue | 9.627 | + 8,6 % |
| Adjusted EBITDA | 1.457 | + 12,2 % |
| Net profit | 888 | N/A |
| management | 5.088 | |
| Project Dividends | 968 | Record |
Performance by business unit
The division of Freeways It continues to be the pillar of value generation, with revenues of €1.374 billion (up 13,7%). The success of the Express Lanes en United States and double-digit EBITDA growth in the 407 ETR de to Canada have allowed the company to receive a record 968 million euros in dividends from its concession projects.
In the area of ConstructionThe order backlog has reached a record high of €17.438 billion. The geographical distribution of this backlog underscores the international focus of Ferrovial:
- North America: It represents 46% of the total portfolio.
- Poland: It represents 22% through its local operations.
- . It accounts for 14% of pending orders.
Strategic movements and expansion in the U.S.
The exercise has been marked by intense activity asset turnover and reinvestment. Ferrovial completed the divestment of its stake in the airport of Heathrow for 539 million euros and in AGS Airports for 533 million. Simultaneously, it strengthened its position in the 407 ETR with an investment of 1.271 billion euros and injected 236 million into the New Terminal One (NTO) From the airport JFK de New York.
Looking to the immediate future, the company has been shortlisted for key infrastructure projects such as the Choice Lanes en Tennessee and the lanes Express en Georgia y North Carolina (I-77 Sur), consolidating its leadership in the US transportation market.
Key points and frequently asked questions about Ferrovial's results
What was the main driver of growth in 2025?
Growth was driven by the excellent performance of the highways in North America and the division of Construction, which achieved an adjusted EBIT margin of 4,6%, exceeding its long-term profitability targets.
How important is the United States market to the company?
It is the priority market. Currently, North America represents 46% of the portfolio of Construction and it is the origin of most of the dividends received from infrastructure projects.
What is Ferrovial's current financial situation?
The company maintains a very solvent position with liquidity of 5.088 million euros and consolidated net debt of -1.341 million (excluding projects), after having allocated 657 million to the distribution of dividends and share buybacks.
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