Intermoney | Ferrovial are to build a new data centre for Microsoft in San Sebastián de los Reyes (Madrid), according to the business and finance daily, Cinco Días. Although the amount of the investment has not been disclosed, the newspaper’s sources put it at “hundreds of millions”…
Microsoft plans to invest up to 12 billion euros in 17 data centres in Europe; in this way, the company would comply with the demands of the banking sector and the administration that its data be stored in the country of origin. In Spain, in addition to the one mentioned in the news item, the US company is planning two other facilities in the Madrid region, specifically in Algete and Meco.
Valuation: Good news for Ferrovial, which thus highlights the value of the strategic alliance it signed with Microsoft in February 2022. The Spanish company already has experience in the construction of this type of asset, such as those built for Telefónica and several financial institutions. On the other hand, the contract will help increase the weight of Ferrovial’s domestic construction business, which, in line with other listed companies in the sector, represents a small fraction of turnover, less than 20% of the total, approximately. The company closed 3Q 2022 with a construction backlog of more than €13bn, while margins at the former Agromán, now known as Ferrovial Construcción, remain in negative territory.
