Building Tomorrow: Ferrovial's Vision for Sustainable Growth and Shareholder Value

Annual General Meeting Highlights: A New Era of Growth and Shareholder Confidence

At its 2026 Annual General Meeting, Ferrovial showcased a robust performance for the fiscal year 2025, revealing a substantial increase in financial metrics and reaffirming its strategic direction. The meeting, presided over by Executive Chairman Rafael del Pino, highlighted the company's strong operational capabilities and commitment to its shareholders, with critical resolutions receiving overwhelming support.

Financial Triumphs: Record Revenue and Soaring Profitability in 2025

Ferrovial's 2025 financial report presented an impressive landscape of growth, with revenues reaching EUR 9.6 billion, marking an 8.6% increase on a like-for-like basis. Adjusted EBITDA also saw a significant surge of 12.2%, totaling EUR 1.5 billion. The company reported a net profit of EUR 888 million, alongside a healthy ex-infrastructure liquidity of EUR 5.1 billion and a net cash position of EUR 1.3 billion, underscoring its financial strength and efficient capital management.

Shareholder Rewards and Strategic Financial Initiatives: The €1 Billion Scrip Dividend

A pivotal moment at the AGM was the shareholder endorsement of an interim EUR 1 billion scrip dividend plan. This initiative offers shareholders the flexibility to receive dividends either in shares or cash, demonstrating Ferrovial's dedication to providing attractive returns. This move, coupled with an 8% year-to-date increase in share price, reinforces investor confidence and the company's robust market position.

Portfolio Evolution: Divestments and Major Investments Reshaping the Future

Ferrovial continued to strategically optimize its portfolio through key divestments and substantial new investments. The company divested its remaining stake in Heathrow Airport for EUR 539 million and sold AGS Airports for EUR 533 million. Concurrently, it committed approximately EUR 2 billion to new infrastructure projects, including further investment in the 407 ETR highway and the New Terminal One at JFK Airport, signaling a focused expansion in high-growth areas.

North American Expansion and Market Recognition: Joining the Nasdaq-100

A significant milestone for Ferrovial in 2025 was its inclusion in the prestigious Nasdaq-100 index, just eighteen months after its initial U.S. listing. This achievement reflects the company's accelerating growth and increasing influence in the North American market, validating its strategic focus on the region and enhancing its global investment profile.

Operational Excellence Across Divisions: Highways, Construction, and Beyond

CEO Ignacio Madridejos elaborated on the exemplary operational performance across Ferrovial's diverse business units. The highways division, particularly in North America, demonstrated strong revenue growth. The construction sector achieved a record order book of EUR 17.4 billion and surpassed its long-term profitability targets, while the airports and energy segments also contributed positively to the overall robust results, showcasing the company's balanced and effective operational strategy.

Financial Transparency and Audit Integrity: A Testament to Governance

The AGM also featured a detailed review of the company's financial practices and audit results. PricewaterhouseCoopers Accountants N.V., in its first year as Ferrovial's external auditor, issued an unqualified opinion on the 2025 financial statements. The discussion included key audit matters and provided limited assurance on the sustainability statement, underscoring Ferrovial's commitment to transparency and adherence to international reporting standards.

Ferrovial's Business Model: A Symphony of Infrastructure Development and Management

Ferrovial, headquartered in Madrid, distinguishes itself as a multinational powerhouse in infrastructure, specializing in the development, construction, operation, and maintenance of transport and urban infrastructure. Its core activities encompass large-scale civil engineering projects, the management of transport concessions like toll roads and airports, and the delivery of urban and industrial services. Operating predominantly through long-term concession and public-private partnership models, Ferrovial seamlessly integrates construction expertise with asset management and operational excellence, ensuring a comprehensive and sustainable approach to infrastructure development.