Ferrovial on Friday reported an adjusted EBITDA of €1.3bn in 2024, a 38.9% increase year over year in like-for-like terms.
Revenue grew 6.7% to €9.1bn, and net profit amounted to €3.2bn, thanks to capital gains from assets rotation.
“2024 was a pivotal year for Ferrovial, marked by the start of trading on the Nasdaq stock exchange. We reported strong financial results, supported by a solid performance across business units. Our infrastructure assets in North America continued growing significantly, delivering strong dividends. In addition, the construction business improved profitability, surpassing the target for the year and reporting a record order book,” said Ignacio Madridejos, Ferrovial CEO.
“Looking ahead, we see an attractive pipeline of assets in North America, where Ferrovial is well positioned to continue to develop complex, essential infrastructure projects that drive progress and improve the connectivity of a fast-moving world.”
The company is targeting North America for growth. It was shortlisted for bidding on the I-285 East Express Lanes in Atlanta and has submitted the Request for qualification (RFQ) for the I-24 Southeast Choice Lanes project in Tennessee.
It said it foresees additional potential opportunities in Nashville, Atlanta, Charlotte and Alexandria.
During the year, the company received €947m in dividends from infrastructure assets and registered the proceeds from the divestments in Heathrow (€2bn) and IRB Infrastructure Developers (€211m), as well as the vendor loan in relation to the Amey divestment (€176m).
These inflows were allocated to growth investments, including the acquisition of 24% of IRB Infrastructure Trust and equity injections in JFK’s New Terminal One, as well as to shareholders distributions and share buybacks.
- Subscribe here to get stories about construction around the world in your inbox three times a week
