Ferrovial Reports Strong Full-Year 2025 Results with Double-Digit EBITDA Growth and Strategic Investments

summarizeSummary

Ferrovial SE reported strong full-year 2025 results with significant revenue and Adjusted EBITDA growth, driven by robust performance in its North American highways and construction divisions, alongside strategic investments and asset rotation.

check_boxKey Events

• Strong Full-Year 2025 Financials

  Revenue increased 8.6% like-for-like (LfL) to €9.6 billion, and Adjusted EBITDA rose 12.2% LfL to €1.5 billion, driven by strong performance across all businesses. Net profit was €888 million, compared to €3.2 billion in 2024 which included significant capital gains from asset rotation.

• Robust Operational Growth

  The Highways division's revenue grew 13.7% LfL, with North American assets delivering €880 million in dividends. Construction's order book hit an all-time high of €17.4 billion, exceeding its profitability target with a 4.6% adjusted EBIT margin.

• Strategic Asset Rotation and Investments

  The company completed divestments of its 5.25% stake in Heathrow and AGS Airports for a combined €1.072 billion. Concurrently, it acquired an additional 5.06% stake in the 407 ETR highway for €1.3 billion and invested €236 million in JFK's New Terminal One.

• Healthy Financial Position & Shareholder Returns

  Ferrovial maintained strong liquidity of €5.1 billion and improved its consolidated net debt (excluding infrastructure projects) to -€1.3 billion. The company returned €657 million to shareholders through cash dividends (€156 million) and treasury share purchases (€501 million).

auto_awesomeAnalysis

This filing details Ferrovial SE's strong full-year 2025 financial and operational performance, reinforcing its position as a leading global infrastructure company. The double-digit growth in Adjusted EBITDA, coupled with a record-high construction order book and robust cash generation from infrastructure projects, highlights the company's operational efficiency and strategic execution. The strategic divestments of mature assets like Heathrow and AGS, alongside significant investments in growth opportunities such as the 407 ETR and JFK's New Terminal One, demonstrate a clear focus on portfolio optimization and future expansion, particularly in North America. The improved net debt position and substantial shareholder returns further underscore the company's financial health and commitment to value creation. The strong pipeline of new projects in the US suggests continued growth momentum.