Ferrovial N.V. (FER) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.395 Hello, everyone. We just released our financial results for 2025. 00:00:03.395 -- 00:00:07.499 I'm here today with our CEO, Ignacio Madrilejos. 00:00:07.499 -- 00:00:11.644 Ignacio, thank you very much for being with us today and congratulations for another 00:00:11.644 -- 00:00:14.587 great set of results. Let's start with the highlights. 00:00:14.587 -- 00:00:16.990 How would you summarize the year? 00:00:16.990 -- 00:00:21.675 Thank you, Silvia. Yes, and as you say, it was a very good year for Ferrovial. 00:00:21.675 -- 00:00:26.187 All our business divisions grew both revenues and EBITDA. 00:00:26.187 -- 00:00:31.254 In the case of our toll roads in North America, I will highlight especially revenue 00:00:31.254 -- 00:00:36.102 per transaction, growing well above inflation in all our assets. 00:00:36.102 -- 00:00:39.186 In the case of construction, very solid results. 00:00:39.186 -- 00:00:43.833 And I will highlight the record backlog that we have in this business. 00:00:43.833 -- 00:00:48.460 In terms of the NASCAR position, a very good year, 1.3 billion euros at the end of the 00:00:48.460 -- 00:00:53.761 year. Several milestones that we achieved during 2025. 00:00:53.761 -- 00:00:58.928 One of them is the rotation of mature assets, in this case, 5% that we have left of 00:00:58.928 -- 00:01:04.155 Hydro. Also, the 50% of our airports in the UK, 00:01:04.155 -- 00:01:09.422 AGS, and other minor investments. We also invested last year an additional 00:01:09.422 -- 00:01:14.967 5% of the 407. Also, continue investing in NTO. 00:01:15.030 -- 00:01:19.335 We were also shortlisted to be two important manned assailants projects in the US this 00:01:19.335 -- 00:01:24.287 year, in Nashville and Atlanta. And also it was a good year ...