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Ferrovial SA
MAD:FER

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Ferrovial SA
MAD:FER
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Price: 47.82 EUR -1.73% Market Closed
Market Cap: €34.9B

Ferrovial SA
Investor Relations

Ferrovial SA is an infrastructure company that builds, operates, and maintains large public-use assets such as toll roads, airports, and other transport facilities. It also works in construction and the long-term management of infrastructure, which means it helps design and deliver projects and then often stays involved to run them over time. The company makes money in a few main ways: by charging tolls on roads it operates, earning fees from airport and transport infrastructure activity, and collecting payments for construction and maintenance work. Its customers include governments, public agencies, airport users, road users, and other organizations that need major infrastructure built or managed. What makes Ferrovial different is that it is not just a builder that finishes a project and moves on. In many cases it takes a long-term role in the assets it helps create, so it can earn recurring income from operating and maintaining critical infrastructure. That puts it in a middle position between public infrastructure owners and the people who use those assets every day.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Jul 29, 2026
AI Summary
Q2 2026

Strong first half: Ferrovial said the semester was driven by standout growth at North American highways and solid Construction results, while the group ended with a net cash position of EUR 1.3 billion, excluding infrastructure projects.

JFK delay: New Terminal One at JFK submitted a remedial plan that pushes Phase A DBO to March 2027; Ferrovial said the timeline is based on the best available information and contractor liquidated damages of EUR 500,000 per day start in July.

407 ETR strength: The Toronto toll road delivered strong revenue and EBITDA growth, helped by higher toll rates and targeted promotions, while management said the pricing strategy is now more focused on value capture and congestion management.

U.S. managed lanes: Dallas-Fort Worth, I-66 and LBJ all posted solid operating performance, with revenue per transaction rising sharply; management said vehicle-classification technology and heavy-vehicle mix were key drivers.

Construction discipline: Construction revenue grew and margins held at 3.5%, with management saying bid costs weighed on the first half but that the long-term margin target remains 3.5%.

Capital allocation: The company highlighted project dividends, buybacks and selective new bids, including two managed lanes bids in Tennessee and Georgia and a Czech highway bid that was flagged as the most cost-effective.

Key Financials
Net cash position
EUR 1.3 billion
Construction revenue
7.1%
Construction adjusted EBIT margin
3.5%
Construction operating cash flow
EUR 329 million
Order book
EUR 18 billion
407 ETR revenue
18.7%
407 ETR toll revenue
20.2%
407 ETR traffic
1.8%
407 ETR EBITDA
24.4%
NTO construction progress
92%
NTO equity investment
EUR 1,041 million
Dalaman passengers
1.8 million
Dallas-Fort Worth revenue per transaction
18.9% in NTE, 11.7% in LBJ, 17.3% in NTE35 West
I-66 traffic
8.5%
I-66 revenue
17.9%
I-77 traffic
5.2%
I-77 adjusted EBITDA
5.4%
407 ETR Schedule 22 provision
CAD 5.5 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Rafael del Pino y Calvo-Sotelo
President & Executive Chairman
No Bio Available
Mr. Ernesto Lopez Mozo
Chief Financial Officer
No Bio Available
Angel Luis Sanchez
Major Projects & Operations Director
No Bio Available
Mr. Ignacio del Pino
Chief Investment Officer
No Bio Available
Mr. Dimitris Bountolos
Chief Information & Innovation Officer
No Bio Available
Silvia Ruiz
Investor Relations Director
No Bio Available
Mr. Pedro Montoya
Group Chief Compliance & Risk Officer
No Bio Available
Ms. Geerte Hesen
General Counsel, Chief Legal & Compliance Officer and Secretary
No Bio Available
Ms. Patricia Leiva
Director of Communication & Corporate Social Responsibility
No Bio Available
Mr. Carlos Cerezo
Chief Human Resources Officer
No Bio Available

Contacts

Address
MADRID
Madrid
Calle Principe de Vergara, 135
Contacts
+34915862500.0
www.ferrovial.com