Ferrovial has taken one more step in the reorganisation of its Services division with the sale of 100% of its water supply and distribution business to Aguas de Barcelona for 43.3 million euros.
This divestment, which must be approved by the competition authorities, includes the transfer of a total of 14 concessions in 32 Spanish municipalities, including most notably Ubeda, Ponferrada and Estepona.
Ferrovial´s integrated water management business serves a population of over 250,000 (450,000 in summer) and currently has more than 130,000 customers. Revenues from this activity amounted to 16.3 million euros in 2003.
One of Europe´s largest services operators
According to Iñigo Meirás, General Manager of Ferrovial Servicios, Services are a strategic activity for Ferrovial since this business has growth potential, makes a stable contribution to earnings and involves long-term contracts. In this market, we are pursuing a strategy of consolidation and growth in three areas: urban services (street cleaning, solid and industrial waste collection and treatment, and gardening), facility management (the comprehensive maintenance of buildings and facilities), and integral infrastructure maintenance (roads, railways and metro).
Owing to the acquisitions last year (Cespa in Spain and Amey in the UK), Ferrovial is one of the largest services operators in Europe: it is present in Spain, Portugal and the UK, and revenues in this area will exceed 2 billion euros in 2004 (over 30% of total Group revenues).