|
contents | business | |||||||||
| Ferrovial obtained 512.6 million euro of EBITDA in the first quarter Spanish infrastructure firm Ferrovial obtained 512.6 million euro in EBITDA in the first quarter of 2010, an increase of 2.3% like-for-like. Revenues totalled 2,633.1 million euro in the period. In like-for-like terms, revenues were stable with respect to the same period of 2009 (-1.3%). Net income improved by 24% year-on-year to -80.3 million euro. Traffic recovered strongly on Ferrovial's main assets in 1Q10: 407 ETR in Canada registered a 4.4% increase, while Heathrow saw traffic rise 1.6% despite the British Airways strike and the winter weather. The Services division increased revenues by 4.3% to 932 million euro, and EBITDA rose 3.2% in like-for-like terms. Outstanding performance by Swissport and Amey. The Construction division ended the quarter with a backlog of 9.706 billion euro, 20% more than in March 2009, due to good performance in the international area. This quarter's results were affected by a number of factors such as the euro's depreciation against other currencies (Canadian dollar, Polish zloty and pound sterling), a smaller consolidation scope following the divestments in 2009, and the particularly adverse weather this winter, which slowed civil engineering and road maintenance work. Consolidated net debt amounted to 23,157.9 million euro at 31 March 2010. Excluding infrastructure projects, corporate debt amounted to 1.540 billion euro. Ferrovial's geographic and business diversification strategy has been maintained in recent years and is reflected in its income statement. International revenues accounted for 1,772.3 million euro, 67% of the total. Airports contributed 43.3% of EBITDA, Toll Roads 30.4%, Services 16.5% and Construction 9.6%. Ferrovials international businesses have generated important growth. Those of special note include increased EBITDA in the Toll Roads business (excl. Chile, +21%), Regulated Airports (+19%), Swissport (+48%) and International Construction (+27%), as well as increased revenues in Amey (+12%). write your comments about the article :: © 2010 Construction News :: home page |