Ferrovial

Summary

Ferrovial, S.A., together with its subsidiaries, operates as an infrastructure and mobility operator in the United States, Poland, Spain, the United Kingdom, Canada, and internationally. The company engages in the design and construction of various public and private works; and development, finance, and operation of toll roads. Its construction activities include highways, tunnels, railways, bridges and viaducts, airports, intelligent toll systems, port and airport infrastructures, buildings, energy restoration, aqueducts, water treatment plants, desalination plants, digesters, thermal drying plants, chimneys and silos, caissons, storage tanks, solar power towers, oil facilities, and other construction. The company is also involved in the operation and maintenance services of urban and industrial waste water treatment plants, and water treatment and desalination plants. In addition, it develops, manufactures, and markets asphalt and bitumen products; develops, finances, and operates airports; provides integrated solutions for the development and management of electrical transmission networks; provides mobility services, including ZITY, an electric carsharing service application; undertakes engineering works; and sells hydraulic equipment. The company was founded in 1952 and is based in Madrid, Spain.


History

The company was founded by Rafael del Pino y Moreno in 1952 as a railroad construction company called Ferrovial, derived from the Spanish word for "railroad". Ferrovial acquired 98.27% of Agroman, another leading Spanish contractor, in June 1995 and then set up Cintra in February 1998: presided over by Rafael del Pino Calvo-Sotelo, Cintra originally comprised three business lines: Car Parks, Toll Roads and Airports .The company expanded in the early years of the new millennium by acquiring 58.5% of Polish construction company Budimex Dromex S.A. in April 2000 and Bristol Airport in Southwest England in December 2000. Joaquín Ayuso was appointed CEO of the Ferrovial group in January 2002; Santiago Bergareche remained on the Board and was appointed Vice Chairman. In June 2002, Ferrovial acquired the concession for Sydney airport, the largest airport in Australia.The company then expanded in the United Kingdom by acquiring Amey plc, a UK construction company and a major investor in Tube Lines, one of the two public–private partnership companies responsible for the maintenance of London Underground's lines and rolling stock, in April 2003 and Belfast City Airport in May 2003.Acquisitions continued: Texan group Webber, specializing in civil engineering, recycling of aggregates and extraction and supply of sand in Texas and Swissport International were both acquired in August 2005.In 2006, a Ferrovial-led consortium purchased UK company BAA Limited, for £10bn and BAA sold its stake in Bristol airport to Macquarie Airports. Then in 2007, Ferrovial finalized the sale of its stake in Sydney Airport and MAp exercised its call option on Ferrovial Airports' 20.9% stake in Sydney Airport for the agreed price of A$1.009 bn. Also in 2007 Ferrovial sold Budapest Airport to a consortium led by Hochtief AirPort GmbH for £1.3bn and announced changes in its corporate structure. Iñigo Meirás, former Head of the Services Division, was appointed CEO of the new Airports Division. Santiago Olivares, who was head of the international area of the Services division and CEO of the handling subsidiary, Swissport, was appointed CEO of Ferrovial Servicios. Enrique Díaz Rato, then CEO of Cintra, was appointed to head the Toll Roads & Car Parks Division. At the end of the year BAA finalised the sale of its stakes in 6 Australian airports to Hastings Fund Management Limited for approx. €495m.In 2008, BAA sold World Duty Free Europe to Autogrill for £546.6m, 33 properties of Airport Property Partnership to Arora Family Trust, a private group, for £265m and Belfast City Airport Limited to ABN Amro Global Infrastructure Fund / Faros Infrastructure Partners LLC for £132.5m.In 2009, Ferrovial subsidiary Amey and the UK's Birmingham City Council announced financial close on the £2.7bn Birmingham Highways private finance initiative scheme and Cintra completed the sale of its 99.92% stake in subsidiary Cintra Aparcamientos, S.A. to a consortium for €451m, including bank debt. Later in the year, Ferrovial appointed Íñigo Meirás as the new CEO, relieving Joaquín Ayuso who was subsequently named Vice-Chairman of the group. On 21 October 2009, BAA reached an agreement to sell London Gatwick airport to an entity controlled by Global Infrastructure Partnership for £1.5bn and Ferrovial's majority-owned subsidiary Cintra was reacquired in full in December 2009. On 17 December 2009, NTE Mobility Partners LLC, a consortium in which Cintra has a majority stake, completed raising $2 bn to finance the North Tarrant Express Managed Lanes project in Texas and on 29 December 2009, Cintra sold 60% of its Chilean subsidiary to ISA for €209m.In 2010, Ferrovial built the M3 Motorway in Ireland which destroyed 140 monuments, two national monuments including Lismullin. Despite pleas by Conor Newman, a former Director of the government's own Tara Discovery Programme and subsequent chairman of the Irish Heritage Council, the motorway was embedded in the Rath Lugh National Monument also known as the Great Rath. Nobel Laureate Seamus Heaney decried it as "ruthless desecration". Land for proposed Leinster Orbital motorway corridor is reserved and impacts both Tara and Newgrange UNESCO World Heritage archaeological landscapes.That same year, Transport for London completed the deal to purchase PPP contractor Tube Lines from Ferrovial for £310m and Ferrovial subsidiary Amey acquired the national rail consultancy of WYG Engineering Limited , part of the WYG Group . Ferrovial also sold its 50% stake in Autopista Trados 45 for €67m and Ferrovial Servicios subsidiary AmeyCespa acquired Dickerson Group, including its U.K. waste management company Donarbon, for £48.6m.In 2012, BAA sold Edinburgh Airport to Global Infrastructure Partners for £807m. Ferrovial also announced the sale of a 10% stake in the parent company of Heathrow Airport Holdings Ltd to Qatar Holding LLC for £478m. Following this sale Ferrovial now has an indirect interest in Heathrow of 33.65%.On 19 January 2013, Heathrow Airport Holdings announced the sale of Stansted Airport for £1.5bn to Manchester Airport Group and on 21 February 2013, Ferrovial, through Ferrovial Services, reached an agreement with international investor 3i to acquire Enterprise, one of the UK's leading providers of services to utilities and the public sector, for £385m.In April 2016, Ferrovial bought out Broadspectrum , becoming the primary contractor to the Australian government for its internationally often condemned offshore Manus Regional Processing Centre in East Lorengau. Subsequently, Ferrovial announced that it did not want to renew its contract. However, thereupon, the Australian enacted a clause allowing a unilateral extension of the contract for five months.


Mission

Ferrovial is one of the main global operators of infrastructures and managers of services to cities, committed to the development of sustainable solutions.


Vision

The Ferrovial Vision answers three questions about its activity: Why? We improve the future through the development and operation of sustainable cities and infrastructure. How? Committed to the highest levels of security, operational excellence and innovation. What? We create value for society and for our customers, investors and employees.


Key Team

Mr. Dimitris Bountolos (Chief Information & Innovation Officer)

Mr. Ricardo Jiménez (Head of Investor Relations)

Mr. Santiago Ortiz Vaamonde (Gen. Counsel & Sec.)

Mr. Pedro Montoya (Director of Compliance & Risk)

Mr. Carlos Cerezo (Chief HR Officer)

Mr. Iñaki García Bilbao (Chief Financial Officer of Ferrovial Construction)

Ms. María Teresa Pulido (Chief Strategy Officer)


References
Ferrovial
Leadership team

Mr. Ignacio Madridejos Fernandez (CEO & Exec. Director)

Mr. Ernesto Lopez Mozo (Chief Financial Officer)

Products/ Services
Construction, Facility Management, Infrastructure
Number of Employees
20,000 - 50,000
Headquarters
Madrid, Madrid, Spain
Established
1952
Company Registration
SEC CIK number: 0001468522
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
BME:FER
Sat Feb 24 2024
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