Ferrovial, the Spanish construction company, has reported a strong operating performance for the first nine months of the year, with all business units showing an increase in revenue and earnings.
Revenue Growth
The company announced that revenue has climbed by 12% on a like-for-like basis, reaching $6.74 billion.
Earnings Up
Ferrovial also revealed that earnings before interest, taxes, depreciation and amortization (EBITDA) have risen by 34% for the nine-month period, amounting to $758 million on a like-for-like basis.
Toll Road Division Success
One of the standout performers was the toll road division, which experienced a remarkable 41% increase in revenue on a like-for-like basis. This growth can be attributed to strong traffic and revenue figures in the U.S., which is the division’s top revenue contributor.
Airports Division Thrives
The airports division also delivered a positive performance, driven by Heathrow. In September, it reached pre-pandemic traffic levels for the first time since the start of the global health crisis.
Future Outlook
Ferrovial has set its sights on achieving a 3.5% EBIT margin by 2024. While the company did not expect significant advance payments from new contracts this year, it remains focused on its long-term goals.