Ferrovial N.V. (FER) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everybody. This is Silvia Ruiz speaking, and I would like to welcome you to FROEAL's conference call to discuss the financial results for the third quarter of 2025. I'm joined here today by your CFO, Ernesto López-Mozo. Just as a reminder, both the results report and the presentation are available on our website since yesterday evening after the U.S. market was closed. At the end of the presentation, there will be a Q&A session. As in previous calls, you have the opportunity to ask questions live. For that, you will need to join the call through the conference call channel and press star 5 on your phone keypad. If you prefer, you can send them through the forum included in the webcast and I will be reading them out loud at the end of the Q&A session. Before starting, please take a moment to look at the safe harbor statement included in the presentation and please bear in mind that the presentation contains forward-looking statements and expectations that are subject to certain risks and uncertainties, so actual figures may differ. Other than as required by law, the company assumes no obligation to update forward-looking statements. During this call, we will discuss non-IFRS financial measures which are defined and reconciled to the most comparable IFRS measures in our results report. With all this, I will hand over to Ernesto. Ernesto, the floor is yours. Thank you, Silvia, and hello, everyone. Thank you for joining us today for Ferrovial's third quarter of 2025 operating earnings conference call. Starting with the overview, I mean, the first nine months of 2025, we saw continued strong momentum across our business divisions. Our highways delivered outstanding revenue and EBITDA growth fueled by our North American assets. Airports saw continued progre...