Ferrovial reports 11.2% growth for Q1 2023


Ferrovial increased EBITDA to €189m in the first quarter of 2023, and revenue rose to €1,805m up from €1,606m a year earlier.

Ferrovial, the sustainable infrastructure and mobility company, increased EBITDA by 39.4% year and all business units reported good operating performance during the period, especially Toll Roads and Airports, with Heathrow proving particularly strong. All divisions registered higher revenue that resulted in double-digit growth in EBITDA in like-for-like terms.

Milestones during the periodincluded the financial close on a €75m investment in two solar photovoltaic power plants in Andalusia (Spain), and on the construction of a 200 MWp solar photovoltaic power plant in Badajoz (Spain) for more than €100m. Additionally, an agreement was signed during the period with RWE, a leading player in the renewable energy field, to jointly develop floating wind power projects in Spanish waters. Ferrovial was also selected to undertake a water project in Texas (USA) worth approximately €135m.

WSPMarch 2023March 2022
Revenues (millions)€1,805€1,606
EBITDA (millions)€189€137
EBITDA Margin (%)10.58.5
Net debt to EBITDA (ratio)7.610.5
*Order Book (millions)€14,525€14,743
*Booking-to-revenue (ratio)2.43

*For construction division only