Ferrovial held its Investor’s day on Tuesday in London. The event focused its attention on the Spanish firm’s services division (Amey, Cespa and Ferroser). Ahorro Corporación Financiera’s (ACF) analysts expect that Ferrovial will give more visibility to the services business, since
“it could surface some hidden value in this unit or even generate new share price catalysts”.
Experts argue that
“after Swissport and Tubelines sale, 60% of the services’ EBITDA comes from the facility and energy management business, as well as from the infraestructure maintenance in Spain (through Cespa y Ferroser), while the remaining 40% derives from Amey, which is devoted to infrastructure maintenance in the UK.
“Ferrovial should focus on Amey, through which it manages its London tube lines, the Birmimgham roads’s maintenance and the Cambridge county waste management.”
ACF values Ferrovial’s services division at €1.834bn.
Ferrovial is the third best market performer of IBEX in the current year, increasing by 15% since January. It is also the most recommended company by Consenso del Mercado since several months.