Ferrovial (ES:FER) has released an update.
Ferrovial has reported a strong H1 2024 performance, with increased toll road revenues due to higher congestion, a record number of passengers at Heathrow Airport, and a significant profitability improvement in construction. The company managed a net debt reduction of €35 million, despite major outflows for growth investments and shareholder distributions, balanced by inflows such as dividends from infrastructure assets and proceeds from stake divestments. Notable corporate actions included the acquisition of a 24% stake in IRB Infrastructure Trust and the partial sale of its stake in FGP Topco.
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