Full Year 2025 Ferrovial SE Earnings Call Transcript
Key Points
- Ferrovial SE (FER) delivered robust performance across all business divisions in 2025, with significant revenue and EBITDA growth in North American highways and construction.
- The company achieved a solid cash position with negative net debt excluding infrastructure projects, supported by record dividends from infra assets and proceeds from asset sales.
- Ferrovial SE (FER) was shortlisted for several major infrastructure projects in the US, reflecting its strong pipeline and growth prospects in North America.
- The company joined the NASDAQ 100 index in December 2025, highlighting its growing presence and investor confidence in its long-term strategy.
- Ferrovial SE (FER) reported a record construction order book of EUR17.4 billion, with nearly 50% from North America, indicating strong future growth potential.
- The adjusted EBITDA for the fourth quarter declined by 2.9% year-over-year, impacted by foreign exchange and higher bidding costs.
- Traffic in some managed lanes, such as NTE, was negatively affected by ongoing construction works, leading to lower traffic volumes.
- The I-77 managed lanes experienced a decline in traffic due to adverse weather conditions and previous exceptional uplift from hurricane-related lane closures.
- The JFK Terminal 1 project faced a delay, with the first phase of construction now expected to complete in fall 2026, potentially impacting revenue timelines.
- Ferrovial SE (FER) faces challenges in customer segmentation and reaching users in the US managed lanes due to the complexity of the market.
Good afternoon, everybody. This is Silvia Ruiz speaking, and I would like to welcome you to Ferrovial's conference call to discuss the financial results for the full year of 2025. I'm joined here today by our Chairman, Rafael del Pino, our CEO, Innate Maridejos; and our CFO, Ernesto.
Just as a reminder, both the results report and the presentation are available on our website since yesterday evening after the US market was closed. At the end of the presentation, there will be a Q&A session run by our CEO and our CFO. As in previous calls, you will have the opportunity to ask questions live. (Event Instructions)
Before starting, please take a moment to look at the safe harbor statement included in the presentation. And please bear in mind that the presentation contains forward-looking statements and expectations that are subject to certain risks and uncertainties -- so actual figures may differ Other than as required by law, the company assumes no obligation to update forward-looking statements.
During this call, we
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
