Ferrovial Achieves Remarkable Financial Growth in First Half of 2026

Ferrovial Reports Strong Performance in H1 2026

Ferrovial, one of the world’s leading infrastructure companies, has announced impressive financial results for the first half of 2026. The company’s growth has been significantly bolstered by its Construction and Highways segments, showing double-digit revenue increases primarily driven by performance in U.S. highways.

Key Achievements

The company revealed that its adjusted EBITDA reached €746 million, reflecting a remarkable 21.6% increase year-on-year on a like-for-like basis. Furthermore, total revenue climbed to €4.7 billion, marking an 11.3% growth. These figures indicate Ferrovial's resilient performance, especially in North America, where the company has firmly established its presence. Net profit for this period was reported at €258 million, contrasted with €540 million from the first half of 2025, which was inflated by one-time capital gains from asset rotations.

Ignacio Madridejos, the CEO of Ferrovial, highlighted the exceptional growth achieved in the first half of the year. According to him, strong performances across North American assets and a record-breaking order book in the Construction division empower the company to explore more complex greenfield projects in the future.

Strong Financial Position

By the close of the first half, Ferrovial maintained a robust financial standing, with liquidity reported at €4.7 billion and consolidated net cash of €1.3 billion. This financial solidity positions Ferrovial well for upcoming ventures and bolsters investor confidence.

In July 2026, Ferrovial made bids for various significant projects, including the I-24 Southeast Choice Lanes in Tennessee and the I-285 East in Georgia. Additionally, in the Czech Republic, they submitted a cost-effective bid for the D35 Highway, further showcasing their proactive approach in securing new contracts.

Deep Dive into Segments

The Highways division had a particularly strong performance, with revenues growing by 15.8% year-on-year to €740 million. The surging growth can be attributed to the company's assets in North America, which contributed €357 million in dividends. Moreover, adjusted EBITDA in this segment saw a 13.4% increase, indicating healthy profitability metrics. For U.S. Express Lanes, revenue per transaction robustly increased, significantly outstripping U.S. inflation rates, which is a promising indicator of service demand and pricing power. 407 ETR, a significant highway project in Canada, experienced exceptional performance, leading to anticipated dividends of CAD 550 million in Q3 2026.

The Construction division showed steady performance with an adjusted EBIT margin of 3.5%, consistent with long-term targets. The order book achieved an all-time high of €18 billion, with North America contributing to nearly half of this figure.

In the Airports segment, Ferrovial completed vital investments committed for New Terminal One at New York's JFK International Airport, reaching 92% construction progress. As of late July, a total of 32 airline agreements were secured, further enhancing the airport's operational capacity.

Moving Forward

Ferrovial’s leadership is optimistic about the directions the company is heading. With plans for a conference call on July 29, 2026, to further discuss their financial results and operational updates, stakeholders are keen to hear more about the company’s future strategies and potential growth opportunities.

In conclusion, Ferrovial's strong results for the first half of 2026 not only underline its operational strength but also its readiness to tackle future challenges and capitalize on new opportunities in the evolving infrastructure landscape. The company's commitment to innovation and sustainability continues to set it apart in the competitive global market.