Ferrovial N.v. · BME:FER
Ferrovial — H1 2025 Earnings Presentation
14 slides from Ferrovial's earnings presentation, Jul 29, 2025
Slide 1: H1 2025 Financial Results
Picture: 407 ETR H1 2025 FINANCIAL RESULTS July 29, 2025 H1 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: H1 2025 Overview
H1 2025 OVERVIEW Robust performance across all business divisions • Highways: Strong revenue and EBITDA1 growth from North American assets • Airports: Construction works at New Terminal One (NTO) continue to progress • Construction: Solid profitability with adjusted EBIT1 margin reaching 3.5% Net de
Slide 4: Highways: Continued growth in US managed lanes
HIGHWAYS CONTINUED GROWTH IN US MANAGED LANES 2025 PERFORMANCE vs. 2024 (Q2 & YTD) 1 EUR M Q2 2025 % Ch H1 2025 % Ch LfL Revenue 352 10.6% 676 14.9% 1 Adj. EBITDA 261 16.0% 496 17.1% 1 Adj. EBITDA mg 74.2% 73.4% PERFORMANCE & CONTRIBUTION FROM US ASSETS +15.9% +14.0% US HIGHWAYS’ US HIGHWAYS’ ADJ. R
Slide 5: 407 ETR: Double-digit EBITDA growth despite schedule provision
407 ETR DOUBLE-DIGIT EBITDA GROWTH DESPITE SCHEDULE 22 PROVISION 2025 PERFORMANCE vs. 2024 (Q2 & YTD) CAD M Q2 2025 VAR. H1 2025 VAR. CAD M Q2 2025 VAR. H1 2025 VAR. Traffic (VKT M) 741 5.8% 1,266 4.1% Revenue 523 16.3% 933 19.7% Total Revenue 523 16.3% 933 19.7% EBITDA 444 11.6% 765 13.0% EBITDA mg
Slide 6: DFW Managed Lanes: Strong growth in revenue and EBITDA
DFW MANAGED LANES STRONG GROWTH IN REVENUE AND EBITDA 2025 PERFORMANCE vs. 2024 (Q2 & YTD) NTE LBJ NTE35W Q2 2025 VAR. H1 2025 VAR. Q2 2025 VAR. H1 2025 VAR. Q2 2025 VAR. H1 2025 VAR. Revenue Adj. EBITDA1 Adj. EBITDA mg1 Revenue/transaction NTE • Traffic impacted by Capacity Improvement construction
Slide 7: I-66 and I-77
I-66 I-77 ROBUST DEMAND DURING PEAK HOURS STRONG REVENUE & ADJ. EBITDA GROWTH 2025 PERFORMANCE vs. 2024 (Q2 & YTD) 2025 PERFORMANCE vs. 2024 (Q2 & YTD) USD M Q2 2025 VAR. H1 2025 VAR. USD M Q2 2025 VAR. H1 2025 VAR. Transactions (M) 6.9% 5.5% Transactions (M) 11 2.3% 1.4% Revenue 29.5% 30.2% Revenue
Slide 8: New Terminal One at JFK and Dalaman
NEW TERMINAL ONE AT JFK DALAMAN PHASE A REFINANCING COMPLETE SOLID ADJ. EBITDA GROWTH EUR M Q2 2025 VAR. H1 2025 VAR. • NTO (New Terminal One) remains on budget & on schedule facing a crucial year for Passengers (M) 1.7 -0.5% 2.0 -0.3% construction and integration Revenue 26 11.2% 29 10.4% 1 • 72% c
Slide 9: Construction: Solid profitability
CONSTRUCTION SOLID PROFITABILITY 2025 PERFORMANCE vs. 2024 (Q2 & YTD) EUR M Q2 2025 Q2 2024 % VAR. H1 2025 H1 2024 % VAR. LfL1 Revenue 1,869 1,895 -1.4% 3,453 3,371 2.6% Adj. EBITDA1 104 116 -10.1% 191 184 4.2% Adj. EBITDA mg1 5.6% 6.1% 5.5% 5.5% Adj. EBIT1 67 75 -10.9% 119 107 11.2% Adj. EBIT mg1 3
Slide 10: P&L Q2 & H1 2025
P&L Q2 & H1 2025 €M Q2 2025 Q2 2024 H1 2025 H1 2024 Revenue 2,410 2,388 4,469 4,267 1 Adjusted EBITDA 347 349 655 603 Depreciation -115 -116 -224 -218 1 233 233 431 385 Adjusted EBIT Disposals & impairments -22 166 275 166 Operating profit/(loss) 211 399 706 551 Financial Results -29 -66 -146 -119 F
Slide 11: H1 2025 Change in Consolidated Net Debt ex-Infrastructure Project Companies
H1 2025 CHANGE IN CONSOLIDATED NET DEBT1 EX-INFRASTRUCTURE PROJECT COMPANIES (€ M) CASH FLOWS EUR -1,974 M OPERATING (EUR 85 M) INVESTING (EUR -1,039 M) FINANCING (EUR -1,019 M) CASH CASH Dividends Construction Other cash Tax payments Cash flows from Interest received Divestments Shareholder Other c
Slide 12: Closing Remarks
CLOSING REMARKS • • • • • • • Picture: I-77 12 12 H1 2025 Financial Results
Slide 13: Q&A
Q&A Pic: NTE (USA) 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 H1 2025 Financial Results