Ferrovial Celebrates Robust Year at Shareholders Meeting With Future Prospects

Ferrovial Holds Insightful Shareholders Meeting

On April 24, 2025, Ferrovial conducted its Shareholders Meeting, marking a pivotal year filled with strong operational gains and an aggressive rotation of its asset portfolio. This meeting showcased the company's impressive results and strategic vision moving forward.

Key Highlights

Ferrovial's Chairman, Rafael del Pino, opened the meeting by reflecting on the significant milestones achieved throughout 2024. Notably, Ferrovial's shares began trading on Nasdaq, a monumental step coinciding almost 25 years after its initial public offering in Madrid. This move underscores the firm's commitment to expanding its presence within the U.S. market, appealing strongly to shareholders.

With an adjusted EBITDA of €1.3 billion—reflecting a remarkable year-over-year increase of 38.9% in like-for-like terms—Ferrovial closed 2024 on a high note. The company's revenue stood at €9.1 billion, demonstrating a 6.7% increase from 2023, with net profits reaching €3.2 billion— bolstered significantly by strategic divestments of mature assets.

Financial Performance and Asset Management

During his presentation, del Pino highlighted robust performance across Ferrovial's divisions. In the Highways sector, managed lanes in North America demonstrated substantial growth, significantly surpassing inflation rates. The Construction division also observed improved profitability figures. Meanwhile, in Airports, milestones were achieved for the New Terminal One at JFK International Airport, paving the way for operational launch by 2026.

The year also saw the divestment of major stakes, including a 19.75% share in Heathrow Airport for €2 billion and a 5% stake in IRB Infrastructure Developers for €211 million. Shareholder returns were another highlight, with a 23% rise in share price to €40.60, outperforming both the IBEX 35 and Nasdaq indexes.

In total, Ferrovial distributed €831 million to shareholders in 2024. The company plans an additional €570 million for dividends in 2025, along with a new share buyback program aimed at up to €500 million.

Focus on North American Growth

CEO Ignacio Madridejos detailed key factors contributing to the impressive performance. Notably, all assets in the North American Highways segment generated dividends, while the Construction division recorded a new high order book for contracts with an adjusted EBIT margin that exceeded the set goals.

Furthermore, the New Terminal One project at JFK marked a physical completion of 60% by year-end and secured agreements with 16 airlines. Looking ahead, Madridejos emphasized a strategic focus on sustainable growth in North America while also exploring opportunities in other regions.

Sustainability Commitment

Recognizing its leadership in sustainability, Ferrovial was named Europe’s most sustainable company and ranked second globally in the Construction and Engineering sector according to the Dow Jones Best in Class indices. The company has set ambitious carbon emission targets—aiming for a 42% reduction in direct emissions and 25% in indirect emissions by 2030.

Shareholder Resolutions

The Shareholders Meeting officially re-elected del Pino as executive director alongside several other key board members. Additional approvals included a new Directors' Remuneration Policy, the appointment of PricewaterhouseCoopers (PwC) for 2025-2027 as the external auditor, and the issuance of new shares intended for corporate purposes.

Ferrovial continues to monitor its operational footprint, strive for innovative solutions within infrastructure development, and maintain its status as a leader in sustainability. The energy and enthusiasm shown in the Shareholders Meeting signal promising advancements for the year ahead.

In summary, 2024 has proven to be a foundational year for Ferrovial, and with a strategic focus on growth and accountability, the company is poised for success both in existing and new markets.