Ferrovial N.v. · BME:FER
Ferrovial — 9M 2025 Earnings Presentation
14 slides from Ferrovial's earnings presentation, Oct 30, 2025
Slide 1: 9M 2025 Financial Results
Picture: 407 ETR 9M 2025 FINANCIAL RESULTS October 28, 2025 9M 2025 1 Financial Results
Slide 2: Disclaimer
DISCLAIMER This presentation has been produced by Ferrovial SE (the “Company”, “we” or “us” and, together with its subsidiaries, the “Group”) for the sole purpose expressed herein. By accessing this presentation, you acknowledge that you have read and understood the following statements. Neither thi
Slide 3: 9M 2025 Overview
9M 2025 OVERVIEW Strong performance across all business divisions • Highways: Continued growth in revenue and EBITDA1 from North American assets • Airports: Continued progress at New Terminal One (NTO) with a focus on operational readiness • Construction: Solid profitability with adjusted EBIT1 marg
Slide 4: Highways: Robust growth in US managed lanes
HIGHWAYS ROBUST GROWTH IN US MANAGED LANES 2025 PERFORMANCE vs. 2024 (Q3 & YTD) EUR M Q3 2025 % VAR 9M 2025 % VAR LfL1 Revenue 345 7.3% 1,021 14.4% Adj. EBITDA1 255 4.2% 751 14.7% 1 Adj. EBITDA mg 73.8% 73.5% PERFORMANCE & CONTRIBUTION FROM US ASSETS +16.4% +15.1% US HIGHWAYS’ US HIGHWAYS’ ADJ. REVE
Slide 5: 407 ETR
407 ETR HIGHER OFFICE OCCUPANCY & PROMOTIONS DRIVING STRONG EBITDA GROWTH 2025 PERFORMANCE vs. 2024 (Q3 & YTD) CAD M Q3 2025 VAR. 9M 2025 VAR. CAD M Q3 2025 VAR. 9M 2025 VAR. Traffic (VKT M) 837 9.4% 2,102 6.2% 1,429 Revenue 578 18.6% 1,511 19.3% Total Revenue 578 18.6% 1,511 19.3% EBITDA 518 20.1%
Slide 6: DFW Managed Lanes
DFW MANAGED LANES STRONG GROWTH IN REVENUE PER TRANSACTION 2025 PERFORMANCE vs. 2024 (Q3 & YTD) NTE LBJ NTE35W Q3 2025 VAR. 9M 2025 VAR. Q3 2025 VAR. 9M 2025 VAR. Q3 2025 VAR. 9M 2025 VAR. Revenue Adj. EBITDA1 Adj. EBITDA mg 1 Revenue/transaction NTE • Traffic impacted by continued Capacity Improvem
Slide 7: I-66 and I-77 Managed Lanes
I-66 I-77 ROBUST PEAK-HOUR GROWTH STRONG REVENUE PER TRANSACTION GROWTH 2025 PERFORMANCE vs. 2024 (Q3 & YTD) 2025 PERFORMANCE vs. 2024 (Q3 & YTD) USD M Q3 2025 VAR. 9M 2025 VAR. USD M Q3 2025 VAR. 9M 2025 VAR. Transactions (M) 13.2% 8.5% Transactions (M) 11 1.5% 1.5% Revenue 28.4% 29.5% Revenue 33 2
Slide 8: New Terminal One at JFK and Dalaman
NEW TERMINAL ONE AT JFK DALAMAN TOWARDS OPERATIONAL READINESS STEADY PERFORMANCE • NTO remains on budget and keeps progressing facing a crucial year for construction EUR M Q3 2025 VAR. 9M 2025 VAR. and integration. Passengers (M) 2.7 -2.3% 4.7 -1.5% • In terms of schedule, acceleration measures are
Slide 9: Construction: Solid profitability
CONSTRUCTION SOLID PROFITABILITY 2025 PERFORMANCE vs. 2024 (Q3 & YTD) EUR M Q3 2025 Q3 2024 % VAR. 9M 2025 9M 2024 % VAR. LfL1 Revenue 1,966 1,866 5.4% 5,420 5,237 4.6% Adj. EBITDA1 120 140 -14.0% 311 324 -2.3% Adj. EBITDA mg 1 6.1% 7.5% 5.7% 6.2% Adj. EBIT 1 83 95 -13.4% 202 203 1.0% Adj. EBIT mg 1
Slide 10: 9M 2025 Main Figures
9M 2025 MAIN FIGURES 9M 2025 REVENUE & PROFITABILITY FIGURES (LfL VARIATION VS. 9M 2024) REVENUE ADJ. EBITDA1 ADJ. EBIT1 €6,911M €1,031M €691M +6.2% +4.8% +6.0% Picture: 407 ETR (Canada) 9M 2025 (1) Non-IFRS financial measure. For the definition and reconciliation to the most directly comparable IFR
Slide 11: 9M 2025 Change in Consolidated Net Debt
9M 2025 CHANGE IN CONSOLIDATED NET DEBT 1 EX-INFRASTRUCTURE PROJECT COMPANIES (€ M) CASH FLOWS EUR -1,497 M OPERATING (EUR +144 M) INVESTING (EUR -506 M) FINANCING (EUR -1,135 M) CASH CASH Dividends Construction Other cash Tax payments Cash flows from Interest Divestments Shareholder Other cash Effe
Slide 12: Closing Remarks
CLOSING REMARKS • • • • • • • Picture: I-77 (USA) 12 12 9M 2025 H1 2025 Financial Results
Slide 13: Q&A
Q&A Picture: NTE (USA) 9M 2025 H1 2025 13 Financial Results
Slide 14: Investor Relations
Picture: NTE (USA) INVESTOR RELATIONS +34 91 586 25 65 +31 207 983 724 ir@ferrovial.com www.ferrovial.com 9M 2025 Financial Results