- Projects outside Spain account for 56% of the construction backlog and 50% of the services backlog.
Ferrovial, a global infrastructure company, ended the first quarter of 2010 with a record construction and services backlog amounting to 19.666 billion euro, i.e. up 7% (1.3 billion euro) with respect to the end of March 2009.
This growth in backlog guarantees earnings visibility in the coming years. Ferrovial's services backlog totalled 9.960 billion euro at the end of the quarter, i.e. similar to the December 2009 figure (9.967 billion euro). Contracts outside Spain account for 50% of the backlog. Amey, Ferrovial's UK services subsidiary, obtained new contracts in the first quarter amounting to 167 million euro, including the renewal (until 2014) of a 104 million euro contract with Network Rail for track restoration.
The company also recently clinched an agreement to maintain and manage Birmingham highways, which will expand the backlog by 1.4 billion euro in the second quarter. Swissport, another Ferrovial Services subsidiary, was awarded handling contracts in Germany, France, Bulgaria, Algeria and Tanzania and cargo contracts in the US.
In Spain, Cespa was awarded 181 million euro in contracts in the quarter, including street cleaning for the Castro Urdiales city government in Santander (20 million euro) and recycling of construction and demolition waste in Úbeda, Jaén (13 million euro).
Ferroser has obtained 170 million euro in contracts, including various (53 million euro) for road maintenance, covering notably a range of sections of the M40 in Madrid and the A3, among others. Ferroser was also awarded the contract for comprehensive maintenance of the Renault factory in Valladolid. Its subsidiary, Inacua, will operate the Hernán Cortés Sports Centre in Zaragoza.
New construction contracts
New construction contracts Ferrovial's construction division had a backlog of 9.706 billion euro at the end of the first quarter, a 19.6% increase in the last twelve months. Increased activity at Ferrovial Agroman is reflected in the backlog. Business outside Spain accounts for 56% of the total i.e. 5.473 billion euro (compared with 44% in Spain).
In the first quarter, Ferrovial signed a contract to build the new Heathrow Terminal 2 (London), and in December it clinched the deal to build the North Tarrant Express (US). Ferrovial's water treatment subsidiary, Cadagua, was awarded its first contract in India and it expanded operations in Cyprus during the first quarter. The company was awarded contracts for the construction of the new accesses for Barcelona's commuter railway network and the storm reservoirs in Etxebarri (Vizcaya).
Press room
