{"id":135689,"date":"2026-02-25T23:28:28","date_gmt":"2026-02-25T22:28:28","guid":{"rendered":"https:\/\/newsroom.ferrovial.com\/?post_type=press_release&p=135689"},"modified":"2026-03-19T08:52:26","modified_gmt":"2026-03-19T07:52:26","slug":"ferrovial-reports-strong-full-year-2025-results-boosted-by-robust-performance-in-all-businesses","status":"publish","type":"press_release","link":"https:\/\/newsroom.ferrovial.com\/en-us\/press-releases\/ferrovial-reports-strong-full-year-2025-results-boosted-by-robust-performance-in-all-businesses\/","title":{"rendered":"Ferrovial\u00a0reports\u00a0strong full-year 2025 results,\u00a0boosted\u00a0by\u00a0robust performance in all businesses\u00a0\u00a0"},"content":{"rendered":"
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Ferrovial<\/strong>, a leading global infrastructure company, today reported financial results for the full year 2025. Ferrovial closed the year with significant<\/strong><\/span>\u00a0growth, supported by a substantial increase in revenue and adjusted EBITDA<\/strong>\u00a0in\u00a0all businesses<\/strong>, primarily North American highways and Construction. S<\/span>trong\u00a0<\/span>cash\u00a0<\/span><\/strong>flow<\/strong>\u00a0<\/span>generation<\/span>\u00a0was<\/span>\u00a0supported by dividends from infrastructure projects and\u00a0<\/span>asset rotation<\/span>.<\/span><\/span><\/p>\n

Revenue totaled \u20ac9.6 billion, an 8.6%\u00a0increase\u00a0in like-for-like<\/span>\u00a0terms, while adjusted EBITDA<\/span>\u00a0reached\u00a0\u20ac1.5\u00a0billion, a 12.2%\u00a0rise\u00a0year over year in like-for-like<\/span>\u00a0terms.\u00a0Net profit\u00a0amounted\u00a0to\u00a0\u20ac888\u00a0million in 2025 compared to \u20ac3.2 billion a year earlier, when the company accounted\u00a0for capital gains from assets rotation.<\/span>\u00a0<\/span><\/p>\n

“2025 was a remarkable year for Ferrovial,\u00a0culminating in its\u00a0inclusion in the Nasdaq-100\u00a0Index<\/strong> in December. We delivered solid results, with significant revenue and adjusted EBITDA increases across all business divisions.<\/strong> Our North American assets performed particularly well,<\/strong> and the Construction business exceeded its profitability target,\u201d said Ferrovial CEO, Ignacio Madridejos. “Looking ahead, we\u2019re focused on accelerating our growth in the United States<\/strong>, where we see a strong pipeline of new greenfield infrastructure opportunities across highways and airports<\/strong>.\u201d<\/span>\u00a0<\/span><\/p>\n

Ferrovial closed\u00a0the\u00a0year\u00a0with\u00a0a\u00a0solid financial position, with liquidity<\/span>\u00a0of \u20ac5.1\u00a0billion and\u00a0consolidated\u00a0net debt<\/span> of -\u20ac1.3 billion, excluding infrastructure projects in both cases. During this period, the company completed the divestment of its 5.25% stake in Heathrow airport (\u20ac539 million) and AGS Airports (\u20ac533 million) and received a record of \u20ac968 million in dividends from projects. In parallel, Ferrovial closed the <\/span>acquisition of an\u00a0additional\u00a05.06% stake in\u00a0the\u00a0407 ETR\u00a0highway\u00a0for\u00a0<\/span>\u20ac<\/span>1.3\u00a0billion\u00a0and\u00a0<\/span>allocated\u00a0\u20ac236\u00a0million to\u00a0equity injections\u00a0in\u00a0the\u00a0New Terminal One\u00a0(NTO)\u00a0at JFK International Airport.\u00a0The company\u00a0assigned\u00a0\u20ac657\u00a0million to\u00a0cash dividends\u00a0(\u20ac156\u00a0million)\u00a0and\u00a0<\/span>treasury shares repurchases<\/span>\u00a0(\u20ac501\u00a0million).<\/span>\u00a0<\/span><\/p>\n

Operating results<\/span><\/b>\u00a0<\/span><\/h2>\n

The\u00a0<\/span>Highways<\/span><\/b>\u00a0division\u2019s revenue grew 13.7% in like-for-like<\/span> terms to \u20ac1.4 billion, driven by outstanding performance in North America, where the company received \u20ac880 million in dividends from projects. Adjusted EBITDA<\/span>\u00a0increased 12.2% in like-for-like<\/span>\u00a0terms to \u20ac990 million.<\/span>\u00a0<\/span><\/p>\n

U.S. Express\u00a0Lanes\u00a0reported\u00a0strong\u00a0revenue per transaction growth, outpacing\u00a0US\u00a0inflation.\u00a0In Canada,\u00a0the\u00a0407 ETR\u00a0posted\u00a0a\u00a0double-digit EBITDA<\/span>\u00a0rise,\u00a0thanks\u00a0<\/span>to higher revenues. Revenue per tr<\/span>ip\u00a0<\/span>increase<\/span>d<\/span>\u00a0<\/span>by 11.7%.<\/span><\/span><\/p>\n

The<\/span>\u202f<\/span>Construction <\/span><\/b>division’s\u00a0order book<\/span>\u00a0reached an all-time high of \u20ac17.4 billion and delivered a 4.6% adjusted EBIT margin<\/span>,\u00a0<\/span>outperforming the <\/span>average long term profitability target<\/span>.\u00a0<\/span>North America accounted for 46%, Poland for 22% and Spain for 14% of the total order book. Revenues grew 7.5% to <\/span>\u20ac<\/span>7.7 billion\u00a0<\/span>in like-for-like<\/span>\u00a0terms<\/span>, while adjusted EBIT soared\u00a0<\/span>24.2%\u00a0<\/span>to\u00a0<\/span><\/span>\u20ac<\/span><\/span>352 million<\/span>\u00a0<\/span><\/span>in like-for-like<\/span><\/span>\u00a0terms<\/span><\/span>.<\/span><\/span><\/span><\/p>\n

In the\u00a0<\/span>Airports<\/span><\/b>\u00a0division,\u00a0the\u00a0NTO\u00a0<\/span>keeps progressing facing an important\u00a0year for construction and\u00a0systems\u00a0integration.\u00a0<\/span>NTO has reached 25 agreements with airlines, including 16 executed contracts and 9 letters of intent.<\/span>\u00a0<\/span><\/p>\n

The<\/span>\u00a0<\/span><\/b>Energy<\/span><\/b>\u00a0<\/span><\/b>division<\/span>\u00a0<\/span><\/b>reported \u20ac339\u00a0million in revenues and \u20ac3 million in adjusted EBITDA.<\/span>\u00a0<\/span><\/p>\n

Further milestones\u00a0<\/span><\/b>\u00a0<\/span><\/h2>\n

In 2025, a Ferrovial-led consortium\u2019s bid was shortlisted for the I-24 Southeast Choice Lanes in Tennessee and the I-285 East Express Lanes in Georgia. In February 2026, a Ferrovial-led consortium\u2019s bid was shortlisted for the I-77 South Lanes project, in North Carolina.<\/span><\/p>\n

In December 2025, Ferrovial joined the Nasdaq-100 Index\u00ae, a year and a half after the company\u2019s debut in the US market in May 2024.<\/span>\u00a0<\/span><\/p>\n

Conference call information<\/span><\/b>\u00a0<\/span><\/h2>\n

Ferrovial will host a conference call on February 26, 2026 at 15:00 CET \/ 09:00 a.m. ET to discuss full year 2025 financial results. To access the earnings call, click\u00a0<\/span>here<\/span><\/a>\u00a0or visit\u00a0\u00a0<\/span>https:\/\/ferrovial.com\/ir-shareholders<\/span><\/a>\u00a0<\/span><\/p>\n

 <\/p>\n

Forward-Looking Statements<\/span><\/b>\u00a0<\/span><\/p>\n

This press release\u00a0contains\u00a0forward-looking statements.<\/span>\u202f<\/span>Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding estimates and projections provided by the Company and certain other sources with respect to the Company\u2019s financial position, business strategy, plans, and objectives of management for future operations, dividends, capital structure, as well as statements that include the words \u201cexpect,\u201d \u201caim,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cbelieve,\u201d \u201cproject,\u201d \u201cforecast,\u201d \u201cestimate,\u201d \u201cmay,\u201d\u00a0\u201cwill\u201d,\u00a0\u201cshould,\u201d \u201ctarget,\u201d \u201canticipate\u201d and similar statements of a future or forward-looking nature, or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Such statements may reflect various assumptions by the Company concerning\u00a0anticipated\u00a0results and are subject to significant business, economic and competitive uncertainties and contingencies, and known and unknown risks, many of which are beyond the Company\u2019s control and may be impossible to predict. Any forecast made or\u00a0contained\u00a0herein, and actual results, will\u00a0likely vary\u00a0and those variations may be material. The Company makes no representation or warranty as to the accuracy or completeness of such statements, expectations,\u00a0estimates\u00a0and projections contained in this presentation or that any forecast made or\u00a0contained\u00a0herein\u00a0will be achieved.\u00a0Risks and uncertainties that could cause actual results to differ include, without limitation:\u00a0risks related to our diverse geographical operations and business divisions; general economic and political conditions and events and the impact they may have on us, including, but not limited to, impacts on demand or public fund allocation in the industries in which we operate, volatility or increases in inflation rates and rates of interest, exchange rate fluctuations, increased costs and availability of materials, and other ongoing impacts including\u00a0 from, for example, changes in tariff regimes, the Russia\/Ukraine conflict, and the Middle East conflict; our legal and regulatory risks given that we operate in highly regulated environments, and the impact of any changes in governmental laws and regulations, including but not limited to tax regimes or regulations; the fact that our business is derived from a small number of major projects; risks related to government contracting; the impact of competitive pressures in our industries, including on bid success and pricing; risks related to our acquisitions, divestments and other strategic transactions that we may undertake; cyber threats or other technology disruptions; our ability accurately to develop estimates or the impact of changes in our underlying assumptions, with respect to project plans, including project timing and budgets, and our ability to meet contractual expectations with respect thereto; the impacts of accidents, disruptions, or other incidents at our project sites and facilities; our ability to obtain adequate financing or access to capital in the future as needed and the impact of reliance on joint venture and partnership arrangements; our reliance on and ability to locate, select, monitor, and manage subcontractors and service providers; the impact of certain swaps and hedging arrangements we enter into from time to time; limitations on our ability to declare and fund future dividends or other distributions, and distribution processes and timelines; our ability to maintain compliance with the continued listing requirements of Euronext Amsterdam, the Nasdaq Global Select Market and the Spanish Stock Exchanges; lawsuits and other claims by third parties or investigations by various regulatory agencies that we may be subject to; our ability to comply with our ESG commitments or other sustainability demands, including changing or conflicting expectations in connection with sustainability and ESG matters; physical and transitional risks in connection with the impacts of climate change; risks related to the adequacy or existence of our insurance coverage and any non-recoverable losses; and the other important factors discussed under the caption \u201cRisk Factors\u201d in our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (\u201cSEC\u201d) for the fiscal year ended December 31, 2025\u00a0which is available on the SEC website\u00a0at<\/span>\u202f<\/span>www.sec.gov<\/span><\/a>, as such factors may be updated from time to time in our other filings with the SEC. Any forward-looking statements contained in this\u00a0press release\u00a0speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. We\u00a0disclaim\u00a0any obligation or undertaking to update or revise any forward-looking statements contained in this\u00a0press release, whether\u00a0as a result of\u00a0new information, future events or otherwise, other than to the extent required by applicable law. Forward-looking statements in this press release are made\u00a0pursuant to\u00a0the safe\u00a0harbor\u00a0provisions contained in the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by relevant safe\u00a0harbor\u00a0provisions for forward-looking statements (or their equivalent) of any applicable\u00a0jurisdiction. In addition, certain industry data and information contained in this\u00a0press release\u00a0has been derived from industry sources. The Company has not undertaken any independent investigation to confirm the accuracy or completeness of such data and information, some of which may be based on estimates and subjective judgments.\u00a0Accordingly, the Company makes no representation or warranty as to the accuracy or completeness of such data and information. Other than as specified, the information contained in this\u00a0press release\u00a0has not been audited,\u00a0reviewed\u00a0or verified by the external auditor of the Group. The information\u00a0contained\u00a0herein\u00a0should therefore be considered as a whole and in conjunction with all the other publicly available information\u00a0regarding\u00a0the Group.\u00a0<\/span><\/p>\n <\/div>\n <\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":135648,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","nivel-2":[2815,3031],"nivel-5":[2803],"nivel-1":[],"nivel-3":[2950,3026,3166,2800,2801,2802],"nivel-4":[],"class_list":["post-135689","press_release","type-press_release","status-publish","has-post-thumbnail","hentry","nivel-2-corporate-en-us","nivel-2-results-en-us","nivel-5-ferrovial-en-us","nivel-3-australia-en-us","nivel-3-canada-en-us","nivel-3-poland-en-us","nivel-3-spain-en-us","nivel-3-uk-en-us","nivel-3-united-states-en-us"],"acf":[],"yoast_head":"Ferrovial\u00a0reports\u00a0strong full-year 2025 results,\u00a0boosted\u00a0by\u00a0robust performance in all businesses\u00a0\u00a0 Ferrovial<\/title>\n<meta name=\"description\" content=\"Ferrovial, a leading global infrastructure company, today reported financial results for the full year 2025. 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