Ferrovial N.v. · BME:FER
Ferrovial — H1 2026 Earnings Presentation
13 slides from Ferrovial's earnings presentation, Jul 28, 2026
Slide 1: H1 2026 Financial Results
H1 2026 Financial Results 1 P ic tu re : 4 0 7 ET R (C a n a da ) July 28, 2026 H1 2026 FINANCIAL RESULTS
Slide 2: H1 2026 Overview
H1 2026 Financial Results 2 H1 2026 OVERVIEW Strong performance driven by Highways and Construction businesses • Highways: Outstanding revenue growth across North American highways • Construction: Solid revenue growth while maintaining profitability target (3.5% adj. EBIT1 mg in H1 2026) • Airports:
Slide 3: 407 ETR: Sound Revenue Growth Despite Macro Softening
H1 2026 Financial Results 3 25.4% 23.7% 24.4% 8.2% - 2.7% 1.8% Traffic EBITDA 2026 PERFORMANCE vs. 2025 (Q2 & YTD) 407 ETR SOUND REVENUE GROWTH DESPITE MACRO SOFTENING H1 2026 TRAFFIC (VKTs) & EBITDA PERFORMANCE vs. H1 2025 • In H1 2026, Toll revenue growth primarily driven by higher toll rates • In
Slide 4: DFW Managed Lanes: Strong Underlying Demand Growth
H1 2026 Financial Results 4 2026 PERFORMANCE vs. 2025 (Q2 & YTD) NTE NTE35W LBJ • Traffic trends improved significantly as construction works on the I-635 feeder corridor approached completion, driving stronger usage of the LBJ Express • Traffic impacted by the ongoing Capacity Improvement construct
Slide 5: DFW Managed Lanes: Double-Digit Growth in Revenue per Transaction
H1 2026 Financial Results 5 P ic : L B J 5 Growth % vs. H1 2025 REVENUE PER TRANSACTION DFW MANAGED LANES DOUBLE-DIGIT GROWTH IN REVENUE PER TRANSACTION, OUTPACING INFLATION FAVORABLE TRAFFIC MIX AND MORE MANDATORY MODE EVENTS IN NTE & NTE35W VS. 2025 H1 2026 DIVIDEND DISTRIBUTION (100%): P ic tu re
Slide 6: I-77 and I-66 Performance
H1 2026 Financial Results 6 I-77 LIMITED CONGESTION IN THE CORRIDOR (1) Non-IFRS financial measure. For the definition and reconciliation to the most directly comparable IFRS measure, refer to the Alternative Performance Measures annex of the H1 2026 Results Report. (2) Including Revenue sharing fro
Slide 7: New Terminal One at JFK and Dalaman
H1 2026 Financial Results 7 NEW TERMINAL ONE AT JFK 92% OF CONSTRUCTION COMPLETED DALAMAN INTERNATIONAL TRAFFIC IMPACTED BY MIDDLE EAST CONFLICT • Passengers reached 1.8mn in H1 2026 (-8.1% vs. H1 2025), driven by lower international volumes due to geopolitical challenges in the Middle East. • NTO h
Slide 8: Construction: Solid Revenue Growth and Sustained Profitability
H1 2026 Financial Results 8 CONSTRUCTION SOLID REVENUE GROWTH AND SUSTAINED PROFITABILITY HEALTHY ORDER BOOK1 AT ALL–TIME HIGH • €2,645M contracts not included in June 2026 order book (pre-awards or pending financial close) • Breakdown by geography: • Budimex maintains healthy margins (6.9% adj. EBI
Slide 9: P&L Q2 & H1 2026
H1 2026 Financial Results 9 (1) Non-IFRS financial measure. For the definition and reconciliation to the most directly comparable IFRS measure, refer to the Alternative Performance Measures appendix of the H1 2026 results report P&L Q2 & H1 2026 P ic tu re : I- 6 6 ( U SA ) 9 EUR mn Q2 2026 Q2 2025
Slide 10: H1 2026 Change in Consolidated Net Debt ex-Infrastructure Project Companies
H1 2026 Financial Results 10 H1 2026 CHANGE IN CONSOLIDATED NET DEBT1 EX-INFRASTRUCTURE PROJECT COMPANIES (€ M) (1) Non-IFRS financial measure. For the definition and reconciliation to the most directly comparable IFRS measure, refer to the Alternative Performance Measures annex of the H1 2026 Resul
Slide 11: Q&A
H1 2026 Financial Results 11 Q&A 5 P ic tu re : N T E (U SA )
Slide 12: Disclaimer
H1 2026 Financial Results 12 DISCLAIMER This presentation has been produced by Ferrovial N.V. (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 fo
Slide 13: Investor Relations
H1 2026 Financial Results 13 INVESTOR RELATIONS +34 91 586 25 65 +31 207 983 700 ir@ferrovial.com www.ferrovial.com P ic tu re : N T E (U SA )