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| Ferrovial net profit reached 224 mln euro in the first quarter of 2011 Ferrovial, the global leader in infrastructure and services, obtained 224 million euro in net profit in the first quarter of 2011, contrasting with losses of 80 million euro in the same period of 2010. In the first few months of 2011, Ferrovial's main businesses improved, particularly airports, and it obtained capital gains from the sale of Swissport and its stake in the M-45 toll road. EBITDA also reflected the improved trading performance, increasing by 8% like-for-like in the first three months of 2011 to 428 million euro. Revenue amounted to 2.281 billion euro, a 3.1% increase in like-for-like terms. At the end of the first quarter, Ferrovial's Construction and Services backlog reached a record 23.412 billion euro, i.e. up 3.8% with respect to December 2010, ensuring future earnings visibility. The backlog reflects the company's internationalization, as 66% in Construction and 50% in Services are located in countries outside of Spain. Consolidated figures for the first quarter of 2011 no longer include earnings from Swissport, 407 ETR (which is equity accounted), or the Chilean toll roads. write your comments about the article :: © 2011 Construction News :: home page |