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| Ferrovial obtains net income of 65 million euro in 1q of 2014 Ferrovial, a global infrastructure and cities company, obtained 65 million euro net profit in the first quarter of 2014, compared with 72 million euro in the same period last year, when the company booked capital gains from the sale of Stansted Airport, along with other extraordinary items. EBITDA expanded by 1.6% to 184 million euro. Revenues increased by 19% to 1.95 million euro, boosted by the consolidation of Enterprise, which was acquired in April 2013 and, therefore, was not included in the accounts for 1Q13. However, excluding the impact of Enterprise, Ferrovial revenues in the first quarter of 2014 would still have reflected solid growth of over 4% due to the good performance of the businesses and the main assets. International revenues increased by 25% compared with the same period last year, and accounted for 66% of total sales. The Construction and Services backlog reached a new high of 25.59 billion euro. International contracts accounted for 67% of the total (65% in Services and 70% in Construction). Notable new contracts in Services include the project to upgrade roads in Central Scotland, for which financial closure was achieved in February; end-to-end management of street lighting in eight districts of Madrid; and railway infrastructure assessment in the UK. In Construction, the company will expand the road between São Paulo and Curitiba in Brazil and complete Expressway S5 between Poznań and Wrocław in Poland. The backlog does not include contracts worth more than 875 million euro that were obtained after the end of the quarter. These include the projects to build, operate and maintain Interstate 77 in North Carolina, upgrade the Pacific Highway in Australia, and build a power plant in Poland and a hydroelectric plant in Chile. write your comments about the article :: © 2014 Construction News :: home page |