Ferrovial announced its financial results for 2025 on Wednesday night. The infrastructure company’s income amounted to €9,627 million last year, which it represented in comparable terms. And it recorded net profits of 888 million euros, 72% lower than , as reflected in the press release sent to the CNMV at the close of the New York Stock Exchange.
In this sense, it should be taken into account that in 2023 it earned 460 million euros, so the company maintains the upward path in profit without taking into account extraordinary elements.
“2025 has been an outstanding year for Ferrovial, which culminated with its entry into the Nasdaq-100 index in December, indicated the CEO of Ferrovial, Ignacio Madridejos, after learning about the company’s performance. And he added: “We recorded solid results, with a significant increase in revenues and adjusted EBITDA in all business divisions. and the construction business has exceeded its profitability target.”
In general, the income of the highway division increased 13.7% year-on-year to 1,374 million euros, due to the result in North America, where the company received 880 million euros in dividends from its projects. Express Lanes in the United States experienced strong growth in transaction revenue, outpacing inflation, the company explains. And in Canada, the 407 ETR high-speed toll road achieved double-digit EBITDA1 growth due to higher revenues. Meanwhile, revenue per trip improved by 11.7%.
For its part, the construction division’s order book reached a record of 17,438 million euros and an adjusted operating result of 4.6%, exceeding the average long-term profitability objective, the company has indicated. North America represented 46%, Poland 22% and Spain 14% of the total order book. Revenues grew by 7.5% to 7,653 million euros, which led to an increase in adjusted operating income by 24.2% to 352 million euros, both in comparable terms.
Ferrovial closed the year with 5,088 million euros in liquidity and a consolidated net debt of -1,341 million euros, excluding infrastructure projects in both cases. During this period, the company completed the divestment of its 5.25% stake in Heathrow (for 539 million euros) and AGS Airports (for 533 million), and obtained a record 968 million in dividends from its projects. In parallel, it completed the acquisition of 5.06% of the 407 ETR highway for 1,271 million and injected €236 million into the New Terminal One (NTO) at JFK international airport. The company allocated 657 million to the distribution of cash dividends (156 million) and to repurchase shares (501 million).
“Looking ahead, we are focused on accelerating our growth in the United States, where we see a robust portfolio of new infrastructure opportunities in highways and airports,” Madridejos also noted.
