Ferrovial increased adjusted EBITDA by 50% in the first nine months of the year

Traffic grew by 4.6% on 407 ETR in Canada, boosted by mobility and commuting patterns, while revenue rose 13.2% to CAD 1.3 billion. 407 ETR announced a total dividend of CAD 1.1 billion for 2024, surpassing pre-pandemic levels.

The Express Lanes in the U.S. experienced solid growth in revenue per transaction during the period. I-66 Express (Virginia) registered a 34.4% increase, NTE 35W (Texas) 14.3%, I-77 Express (North Carolina) 12.4%, LBJ Express (Texas) 8.2% and NTE (Texas) 4.1%. With regards to traffic, largest increases were registered on NTE 35W (+27.9%), thanks to the opening of Segment 3C in June 2023, and on I-66 Express (+11.9%). NTE saw a 2.3% decline due to construction works to improve capacity. I-77 Express distributed dividends for the first time with an extraordinary dividend amounting to $293 million at 100%.

The Construction division ended the first nine months of the year with a record order book of $17.4 billion, with North America accounting for 49% and Poland 25%. Revenue amounted to $5.7 billion, an increase of 3.2% on a like-for-like basis. The Construction division reported adjusted EBIT of $220 million and an adjusted EBIT margin of 3.9%, on track to meet the 3.5% target for fiscal year 2024.

The Airports division registered strong growth in traffic. Heathrow had its busiest first nine months ever, welcoming 63.1 million passengers between January and September, a 6.2% gain year-over-year.  As a result of the solid demand experienced during the year, the airport upgraded its traffic projections for 2024 to a new record of 83.8 million passengers.

Aberdeen, Glasgow and Southampton airports also performed well in the first nine months, with traffic up 8.5%, while Dalaman airport reported a 7.4% increase.

The New Terminal One (NTO) at JFK International Airport is progressing within budget and schedule. NTO signed long-term agreements with nine airlines as of September, and successfully concluded a $2.55 billion Green Bond issuance in June.

Conference call information
Ferrovial will host a conference call on October 30 at 15:00 CET / 10:00 a.m. ET to discuss its 9M financial results. To access the earnings call, click here or visit the Investor Relations section of the Company's website at https://ferrovial.com/ir-shareholders

KEY FIGURES

(million dollars)

^{*The company reports its results in euros. The figures in this press release have been converted to USD using the closing or the average exchange rate as of September 30, 2024, as appropriate.}

About Ferrovial
Ferrovial is one of the world's leading infrastructure companies. The Company operates in more than 15 countries and has a workforce of over 24,000 worldwide. Ferrovial is triple listed on Euronext Amsterdam, the Spanish Stock Exchanges and Nasdaq and is a member of Spain's blue-chip IBEX 35 index. It is part of the Dow Jones Sustainability Index and FTSE4Good, and all its operations are conducted in compliance with the principles of the UN Global Compact, which the Company adopted in 2002. 

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SOURCE Ferrovial