Ferrovial N.V. (FER) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everybody. This is Sylvia Ruiz speaking, and I would like to welcome you to Ferrovial's conference call to discuss the financial results for the full year 2024. I am joined here today by our chairman, Rafael Del Pino, our CEO, Ignacio Maridejos, and by our CFO, Ernesto Lopez-Mozo. Just as a reminder, both the results report and the presentation are available on our website since yesterday after the U.S. market closed. At the end of the presentation, there will be a Q&A session. As in previous calls, you will 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. With all this, I will hand over to Rafael. Rafael, the floor is yours. Thank you, Silvia, and good afternoon, everyone. Rovial delivered solid growth across all business divisions in 2024. In toll roads, our North American assets experienced robust traffic performance and revenue per transaction growth that significantly outpaced inflation. In airports, the construction of the new Ternary R1 at JFK continued to advance, with the NTO team achieving significant construction milestones in 2024. And in construction, profitability improved significantly with our adjusted EBIT margin reaching 3.9% for the year, surpassing our target of 3.5%. We ended the year with a strong ex-infrastructure net debt position of minus 1.8 billion. We received 947 million in dividends from our infra-assets, an all-time high figure, including the first dividend distributions from I-66 and I-77 of 89 and 205 million, respectively. In addition to that, we collected $2.6 billion...