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Ferrovial SE (symbol: FER) is a Spanish multinational company renowned for its expertise in the infrastructure sector. The company is organized into four key segments: Toll Roads, Airports, Construction, and Energy and Mobility Infrastructures. Ferrovial's Toll Roads division is involved in developing and operating toll roads globally. The Airports segment manages four major airports in the United Kingdom: Heathrow, Aberdeen, Glasgow, and Southampton.
The Construction segment is responsible for designing and constructing a variety of infrastructure projects, including buildings, transport networks, and water facilities. Meanwhile, the Energy and Mobility Infrastructures segment focuses on the operation of infrastructure for transport, natural resources, utilities, telecommunications, and waste management.
Ferrovial has made significant strides in its internationalization efforts. Recently, the U.S. Securities and Exchange Commission (SEC) declared its registration statement on Form 20-F effective, leading to the commencement of trading of Ferrovial's ordinary shares on the Nasdaq Global Select Market under the ticker symbol 'FER'. This move marks Ferrovial as the first IBEX 35 index company to list on Nasdaq.
The company has been active in the U.S. market for over two decades, building a substantial portfolio of infrastructure assets. The admission to Nasdaq is a key milestone in Ferrovial's growth strategy in North America.
Financially, Ferrovial reported a robust performance in the first quarter of 2024, with an adjusted EBITDA of $276 million, a 37.6% growth compared to Q1 2023. Revenues also saw a 3.5% increase to $2 billion. The Toll Roads and Construction divisions were the primary drivers of this growth.
Ferrovial is also focused on shareholder value, as evidenced by its recent share buyback program. Launched in May 2024, the program aims to repurchase up to 37 million shares, with a total maximum net investment of EUR 500 million, illustrating the company's strong financial health and commitment to enhancing shareholder value.
In terms of environmental and social responsibility, Ferrovial is recognized as one of the world's leading environmental companies by CDP and is part of the Dow Jones Sustainability Index and FTSE4Good. The company adheres to the principles of the UN Global Compact, which it adopted in 2002, ensuring its operations align with sustainable and ethical standards.
Ferrovial continues to innovate and expand its market presence. Recently, the company partnered with DXC Technology and Microsoft to develop the Quercus generative AI platform, aimed at integrating secure AI solutions across business operations to boost efficiency and profitability.
With a workforce of over 24,000 and operations in more than 15 countries, Ferrovial remains a pivotal player in the global infrastructure landscape, poised for continued growth and success.
Ferrovial (Nasdaq: FER) reported a $447 million net profit for the first half of 2024, a significant increase from $123 million in the same period of 2023. The company's strong performance was driven by:
- 56% increase in Adjusted EBITDA to $652 million
- 7.5% revenue growth to $4.6 billion in like-for-like terms
- Strong growth in North American infrastructure assets
- Record-breaking passenger numbers at Heathrow Airport
Ferrovial's shares are now traded on Nasdaq, Spanish, Dutch, and U.S. markets. The company maintains a solid financial position with $4.6 billion in liquidity and $-38 million in consolidated net debt (excluding infrastructure projects). The Construction division reported a record order book of $17 billion, with a 3.2% adjusted EBIT margin, on track to meet its 3.5% target for 2024.
Ferrovial, a global infrastructure company, has announced leadership changes in its construction division for the U.S. and Canada. Pepe Baraja has been appointed CEO for the region, replacing Angel Luis Sanchez, who has been promoted to Major Projects and Operations Director globally. These changes are part of Ferrovial's strategy to support its next phase of growth, particularly as infrastructure investment strengthens in the U.S.
Baraja, who joined Ferrovial in 2002, will oversee all ongoing projects and business development activities in North America. He previously served as chief operating officer for the U.S. and Canada, involved in key projects like the New Terminal One at JFK International Airport and the Ontario Line in Toronto. Sanchez, a 35-year veteran of the company, will now define strategy and direct major project operations globally.
Ferrovial has announced Frank Raha III as the new U.S. vice president of corporate affairs for its highway division, Cintra.
Raha will oversee government relations and support business development as Ferrovial expands its U.S. footprint. He will report directly to Cintra's U.S. CEO, Alberto Gonzalez.
Raha brings extensive experience in both private and public sectors, having worked with federal, state, and local governments. He has a history of successful public policy initiatives and project launches.
Prior to joining Ferrovial, Raha held leadership roles in government relations at HNTB and Holcim, and served in key positions within the Michigan Department of Transportation.
DXC Technology (NYSE: DXC), Ferrovial (NASDAQ: FER), and Microsoft have announced a collaboration to develop Quercus, a generative AI platform. The platform aims to help organizations worldwide integrate secure, responsible AI solutions to enhance efficiency and profitability. DXC will standardize and commercialize Quercus, running on Microsoft Azure and OpenAI technology. Ferrovial has already implemented an early version, creating an AI virtual assistant for various business activities. This initiative is expected to revolutionize AI-supported business services, offering significant competitive advantages for users.
Ferrovial (Nasdaq: FER) reported a 37.6% increase in adjusted EBITDA for Q1 2024, reaching $276 million. Revenue rose by 3.5% to $2 billion, driven by Toll Roads and Construction divisions. The company's Express Lanes in North America saw significant traffic growth, particularly North Tarrant Express 35W and I-66. Heathrow Airport achieved a record 18.5 million passengers. Ferrovial maintains high liquidity of $5.3 billion with a consolidated net debt of $-720 million. Key investments included a 24% stake in IRB Infrastructure Trust for $803 million and contributions to JFK's New Terminal One. A $129.8 million dividend was approved for Q2. The company was also recognized by CDP for its environmental efforts.
Ferrovial, a leading infrastructure company, has begun trading on the Nasdaq under the symbol 'FER'. The U.S. listing marks a significant step in the company's internationalization efforts and expansion plans in North America. Ferrovial's ordinary shares will also continue to trade in Spain and the Netherlands. The company's admission to the U.S. market aims to showcase the value of its assets and projects to American investors interested in the infrastructure sector. Additionally, Ferrovial has extended its share buyback program to the U.S. markets, with a total net investment of EUR 500 million and a maximum of 37,000,000 shares to be repurchased.
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