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| Ferrovial net profit increased by 219% in the first half of 2007  Spanish construction giant Ferrovial attained a sizeable increase in all income statement line items in the first half of 2007, basically as a result of integrating airport manager BAA, which has transformed the company's profile. Net profit in the first half of 2007 amounted to 756 million euro, 219% more than in the same period of 2006. This rapid growth was underpinned by recurring businesses and enhanced by capital gains on the sale of Sydney and Budapest airports.EBITDA increased by 132.1% to 1,467 million euro. 80% of EBITDA was obtained in other countries, with only 20% coming from activities in Spain. The UK is Ferrovial's second "domestic" market, having contributed 59% of EBITDA in the first half. BAA contributed 767.7 million euro in EBITDA, 52% of the total. EBIT amounted to 916.8 million euro, a 112.4% increase. Net sales totalled 7,099.8 million euro, 44.8% more, due to BAA's contribution of 1,859.4 million euro. The international market contributed 63% of the company's revenues, i.e. 4, 490.9 million euro. The UK market (41% of the total) is now larger than the Spanish market (37%), and the other big contributors are Canada and the US (8%), the rest of Europe (Ireland, Switzerland, Italy and Portugal: 6%) and Poland (6%). At the end of the period, Ferrovial's net debt (excluding infrastructure project finance) was 1,786.4 million euro, 46.1% less than in the same period of 2006. write your comments about the article :: © 2007 Construction News :: home page |