Ferrovial, a prominent global player in infrastructure development, has reported an impressive increase in its financial performance during the first nine months of 2024. The company achieved an adjusted EBITDA of $1.1 billion, marking a substantial 50% year-over-year growth on a like-for-like basis. Total revenue for the period reached $7.2 billion, reflecting a 6.2% increase under similar terms. This impressive performance is attributed to robust operations across all business segments and significant capital gains from strategic divestments.

Ignacio Madridejos, CEO of Ferrovial, highlighted that the company's assets are positioned in growth-prone areas, ensuring higher dividends that bolster future growth potential. The company concluded the period maintaining a strong financial stature, boasting liquidity of $3.9 billion alongside a net debt of $466 million, excluding infrastructure projects. Over the nine-month span, Ferrovial amassed $532 million in dividends from North American assets and proceeds from the sale of a 5% stake in IRB Infrastructure Developers, and divestments of Amey and Serveo. These financial inflows were primarily channeled towards shareholder distributions and strategic investments, including acquiring a 24% stake in IRB Infrastructure Trust and contributing to equity investments in JFK's New Terminal One.

In operational highlights, the Toll Roads division saw a remarkable 21.9% rise in revenue on a like-for-like basis, amounting to $996 million, powered by robust growth in North America. The division's adjusted EBITDA climbed by 22.8%, reaching $731 million. Notably, traffic on the 407 ETR in Canada increased by 4.6%, accompanied by a revenue rise of 13.2% totaling CAD 1.3 billion. The division's performance was further accentuated by Express Lanes in the U.S. experiencing significant growth in revenue per transaction, with I-66 Express in Virginia witnessing a 34.4% surge. Additionally, NTE 35W in Texas recorded a 27.9% growth in traffic, largely driven by the opening of Segment 3C in June 2023.

The Construction division sustained its momentum with a record order book of $17.4 billion, with North America and Poland contributing 49% and 25% respectively. Its revenue climbed by 3.2% and the division remained on track to achieve its adjusted EBIT margin target for the year. The Airports division registered substantial traffic growth, with Heathrow welcoming a record number of 63.1 million passengers in the first nine months, a 6.2% increase from the previous year. This surge has led the airport to revise its annual passenger projection to a fresh peak of 83.8 million.

Success was also seen in Aberdeen, Glasgow, and Southampton airports with a notable 8.5% uplift in traffic. Meanwhile, Dalaman airport saw a 7.4% growth in passenger numbers. At JFK International Airport, the New Terminal One (NTO) project is progressing as per budget and timetable, thanks to securing long-term agreements with airlines and a successful $2.55 billion Green Bond issuance. Ferrovial is set to conduct a conference call on October 30 to delve into its financial results with stakeholders. This will provide deeper insights into the company's robust performances while ensuring transparency and engagement with its investor community.

About Ferrovial: Headquartered in Europe, Ferrovial operates across more than 15 countries and employs a dedicated workforce of over 24,000 individuals. As a publicly traded entity on Euronext Amsterdam, the Spanish Stock Exchanges, and Nasdaq, Ferrovial is a prestigious member of Spain's IBEX 35 index. It consistently adheres to sustainable practices, being part of the Dow Jones Sustainability Index and FTSE4Good. Since 2002, the company has integrated the UN Global Compact's principles into its operations, reinforcing its commitment to ethical business standards.