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

The company reported robust performance in all business areas and growing dividends from infrastructure assets

Toll roads in North America experienced strong growth in revenue per transaction, while Heathrow served a record number of passengers

Higher profitability in Construction, placing the unit on track for 2024 target

AMSTERDAM, Oct. 29, 2024 /PRNewswire/ -- Ferrovial, a leading global infrastructure company, reported adjusted EBITDA of $1.1 billion in the first nine months of 2024, a 50% increase year over year in like-for-like terms. Revenue amounted to $7.2 billion in the period, a 6.2% growth on a like-for-like basis. 

"In the first nine months of 2024, Ferrovial saw remarkable financial results, an outstanding achievement propelled by strong performance across all business segments and capital gains from divestments. Our infrastructure assets are located in growing areas, which translates into higher dividends that will help us continue to take advantage of future growth opportunities," said Ignacio Madridejos, Ferrovial CEO.

Ferrovial ended the period in a solid financial position, with liquidity of $3.9 billion and consolidated net debt of $466 million, excluding infrastructure projects in both cases. In the first nine months, the company received $532 million in dividends from infrastructure assets in North America and registered the proceeds from the divestment of a 5% stake in IRB Infrastructure Developers and the sale of Amey and Serveo. These inflows were mainly allocated to shareholder distributions, the acquisition of 24% of IRB Infrastructure Trust and equity investments in the JFK's New Terminal One.

Operating results

The Toll roads division recorded a 21.9% increase in revenue in like-for-like terms to $996 million as a result of solid growth in North America. Adjusted EBITDA improved by 22.8% in like-for-like terms to ...