Ferrovial has registered a 19.1% increase in adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) to €309m ($346.05m) in the first quarter (Q1) of 2025.
The rise was attributed to robust performance across all business divisions.
The company’s revenue reached €2.1bn, marking a 7.4% growth, with the US Highways division significantly contributing to this rise.
The Highways division saw a 14.1% revenue increase to €324m, primarily due to growth in North America.
US Express Lanes reported notable revenue per transaction growth, despite weather and calendar challenges.
In Canada, 407 ETR demonstrated strong performance with double-digit EBITDA growth.
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By GlobalDataFerrovial’s Construction division achieved a 3.3% adjusted EBIT margin, continuing its positive trend and improving from last year’s performance.
The order book reached a record €17.2bn, with North America contributing 45%, Poland 24%, and Spain 14%.
In the Airports division, construction of the New Terminal One (NTO) at JFK International Airport advanced by 6% in the first quarter.
Currently, NTO has secured 18 airline agreements, with 13 contracts executed and five letters of intention.
As of 31 March 2025, Ferrovial reported €5.3bn in liquidity and a consolidated net debt of -€1.8bn.
In the quarter, the company completed the sale of a 50% stake in AGS Airports for €538m and received €19m in dividends from projects during this period.
Additionally, Ferrovial allocated €156m to shareholder distributions and €152m to equity injections in the NTO project.
Ferrovial CEO Ignacio Madridejos said: “We saw strong revenue growth across our North American assets during the first quarter, driven by robust underlying activity in the regions where these assets are located.
“We deliver the connectivity our customers demand. Our Construction division reported a healthy order book, with anticipated limited exposure to macroeconomic uncertainty.”
This February, Ferrovial, through its UK construction division, was awarded a £230m contract for the Grain to Tilbury electricity infrastructure upgrade project by National Grid.
