Readers of business daily Expansión have chosen Ferrovial as Spain´s top-performing stock. The Salmon award, now in its 15th edition, recognizes not only Ferrovial´s good performance in 2002 (up 22.65%, while the Ibex-35 fell 28%) but also its business track record, financial strength, sound management and transparency.
The prize-giving ceremony yesterday highlighted Ferrovial´s performance in the market (up 8% since its IPO in May 1999) in a market which has been very harsh to most Spanish companies: the Ibex-35 has fallen 40% in the last three and a half years. Expansión readers chose Ferrovial, with Iberia in second place, while recognizing its leading position in the Spanish construction market as well as its diversification and international presence.
Receiving the award, Ferrovial CEO Joaquín Ayuso thanked Expansión and its readers for the award on behalf of all the company´s professionals. He highlighted the group´s sound business track record although it is a newcomer to the stock market, it has been growing solidly and steadily for over fifty years (35% compound annual growth in the last six years) while creating value over the long term.
