Infrastructure company Ferrovial (FRRVY.PK, FRRVF.PK) reported that its adjusted EBITDA amounted to 309 million euros in the first quarter of 2025, a 19.1% increase year over year in like-for-like terms. Quarterly revenue was 2.1 billion euros, a 7.4% growth in like-for-like terms, boosted by substantial growth across the board.
The Highways division's revenue grew 14.1% in like-for-like terms to 324 million euros, driven by solid growth in North America. U.S. Express Lanes posted robust revenue per transaction growth, significantly outpacing inflation. However, the traffic was impacted by weather conditions and the calendar effect.
The Construction division reached a 3.3% adjusted EBIT margin, continuing the positive trend from previous quarters and showing a significant improvement compared to last year's performance. Order book reached an all-time high of 17.2 billion euros. North America accounted for 45%, Poland 24% and Spain 14%.
In the Airports division, the New Terminal One at JFK International Airport progressed as planned, with construction advancing by 6% in the first quarter.
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