Ferrovial Q1 Revenue Climbs 10.2% to €2.1B, EBITDA Up 15%
Ferrovial's Q1 revenue reached €2.1 billion, up 10.2% like-for-like, while adjusted EBITDA rose 15% to €321 million. North American highways drove growth with 13.7% higher revenue of €336 million, while liquidity stood at €5.5 billion against net debt of -€1.2 billion.
1. Q1 Financial Performance
Ferrovial reported Q1 2026 revenue of €2.1 billion, a 10.2% increase like-for-like, and adjusted EBITDA of €321 million, up 15% year-on-year. Consolidated liquidity stood at €5.5 billion and net debt excluding infrastructure projects was -€1.2 billion.
2. Highways Division Highlights
The Highways division saw 13.7% like-for-like revenue growth to €336 million and adjusted EBITDA rose 10% to €235 million. U.S. Express Lanes outpaced inflation in revenue per transaction despite adverse weather, while Canada's 407 ETR delivered double-digit EBITDA growth and approved a CAD 500 million dividend.
3. Construction and Airports Progress
Construction order book reached a record €17.6 billion with North America at 45%, Poland 25% and Spain 14%, and adjusted EBIT margin at 3.1%. The JFK New Terminal One project advanced to 87% completion, securing 21 airline agreements and nine letters of intent.