North America makes up nearly half of Ferrovial’s construction order book

Image: Ferrovial

The news came in a trading update on its first nine months of 2024.

Ferrovial said it ended the first nine months of the year with a record order book of $17.4 billion, with North America accounting for 49% of that figure and Poland 25%.

Revenue in Ferrovial’s construction division increased 3.2% on a like-for-like basis to $5.7 billion, while adjusted earnings before interest and taxation increased to $220 million.

Last year, Ferrovial moved its headquarters from Spain to the Netherlands in a move that was aimed in part at speeding up its application for a US listing, which could allow it to access increased financing in its largest market.

The company, which also operates a toll roads division and an airports division, revealed group-wide revenue of $7.2 billion for Q3 this year, a 6.2% growth on a like-for-like basis. EBITDA was $1.1 billion, a 50% increase year on year in like-for-like terms.

Ignacio Madridejos, Ferrovial CEO, said, “In the first nine months of 2024, Ferrovial saw remarkable financial results, an outstanding achievement propelled by strong performance across all business segments and capital gains from divestments. Our infrastructure assets are located in growing areas, which translates into higher dividends that will help us continue to take advantage of future growth opportunities.”