Ferrovial

Companies, European economy, Ibex 27th June 2022

Heathrow hikes passenger estimates for 2022: will recover 67% of pre-Covid levels this year

Bankinter | The UK’s Heathrow airport has improved its passengers’ estimate for 2022 to 54,4 million, which would mean a recovery of 67% of 2019 levels. It’s an improvement of 3% on the 52,8 million forecast in April. The company foresees revenues doubling to 2.593 billion pounds and adjusted EBITDA growing 257% to 1.370 billion pounds. That said, it has warned that uncertainty remains high and that there are significant…

Spanish economy 8th June 2022

Ferrovial finalising sale of Amey to consortium of funds, venture capital firms for €234 M

Intermoney | Ferrovial (Hold, Target Price 24 euros) would be finalising the sale of Amey, its services division based in the UK, for close to 234 million euros. This is according to information on Tuesday from daily Cinco Días, citing Sky News. The buyer would be a consortium of funds and venture capital firms, specifically One Equity Partners and Buckthorn Partners. It is expected that the process will be closed…

World economy 6th June 2022

Ferrovial agrees to buy Carlyle’s stake in the new Terminal 1 at JFK airport for $1.140 B

Bankinter | Ferrovial has reached an agreement with Carlyle to buy its stake in the new Terminal 1 at JFK airport (New York). It will acquire 96% of the vehicle through which The Carlyle Global Infrastructure Fund holds 51% of the concession. Ferrovial’s investment will be 1.140 billion dollars. The accord is subject to certain suspensive conditions and the company will provide more details on 9 June at 18:00h. The…

Spanish economy 26th May 2022

ACS, Ferrovial both chosen to present final bids for the Inglewood Transit Connector, worth €1.3 Bn

Link Securities | The consortia led by Spanish infrastructure and services groups ACS and Ferrovial have been selected, along with a third alliance, by the authorities of the city of Ingelwood, in Los Angeles, to present their final bids for a the Inglewood Transit Connector contract. This contract is for the design, construction, financing, operating and maintenance of the automated transit connector, according to yesterday’s elEconomista.es. The project consists of…

World economy 21st April 2022

Ferrovial: partial divestment in Amey, wins three water projects in Texas

Renta 4 | Ferrovial (FER)‘s partial sale of its UK services affiliate Amey to the fund Rubicon Partners would be at an advanced stage, according to the press. We are talking specifically about the utilities business, focused on electricity and water. This activity invoiced 200 million GBP in 2020 (9.4% of the sales of this division in the UK and 3.5% of total group sales. More residual weighting in terms…

Spanish economy 14th April 2022

Ferrovial Combines Protection Against Inflation With Exposure To Recovery In The Cycle; Buy. T.P. €28,5/share (-5%)

Bankinter | Exposure to North America and protection against inflation. Ferrovial offers a good combination of protection against inflation and exposure to the recovery in the cycle, via traffic. Of its total cashflow, 80% comes from North America (US and Canada), where the impact of the war in Ukraine will be less. And salaries have capacity to grow. Whatsmore, Ferrovial has a solid financial structure, with net cash in the…

Spanish economy 18th February 2022

Ferrovial could earmark $1 Bn to build the new terminal at JFK airport

Renta 4 | Ferrovial, along with its partner Carlyle, could invest 1 billion dollars (approximately 880 million euros and accounting for 7% of the group’s construction portfolio) to build the new terminal at New York’s JFK airport. The concession period would last until 2060 and Ferrovial-Carlyle would hold 51%, according to the news. Valuation: Positive news, both at the quantative level (the size of the project) and the qualitative level (the…

Spanish economy 30th December 2021

Cintra, Ferrovial’s Toll Road Subsidiary, Has Acquired 24.86% Of The Indian Company IRB Infrastructure Developers For €369 million

Cintra, Ferrovial’s toll road subsidiary, has completed the acquisition of a 24.86% stake in Indian company IRB Infrastructure Developers for €369 million. The deal has been completed after a preferential share issue by IRB Infrastructure Developers, a leading infrastructure player in India, where it manages 24 projects spanning more than 2,500 kilometers of toll road. As a result, Ferrovial is now a significant minority shareholder with representation on the company’s…

European economy 13th November 2021

Heathrow Airport still struggles to reach pre-pandemic passenger growth

More than 3 million passengers used Heathrow airport in October, encouraged by the easing of UK travel restrictions prior to the Autumn half-term holiday. Spanish infrastructure group Ferrovial is the largest stakeholder in Heathrow, with 25 percent.

Spanish economy 28th October 2021

Cintra (Ferrovial) Presents A Bid For Up To 24.9% Of Indian Company IRB Infrastructure Developers

Cintra, Ferrovial’s toll road subsidiary, has filed a bid to acquire up to 24.9% of Indian company IRB Infrastructure Developers, representing an investment of around 364 million euros. The deal will be conducted in the form of a preferential share issue. IRB Infrastructure Developers is a leading player in the Indian market, where it manages 23 projects and around 2,000 kilometers of toll road. If the deal is completed, Cintra…

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