Ferrovial S.E.
TypeSocietas Europaea
BMAD: FER
ISINES0118900010
IndustryTransportation
Founded1952 (1952)
FounderRafael del Pino
HeadquartersKingsfordweg 241, Amsterdam, Netherlands
Area served
Spain, Portugal, United Kingdom, Ireland, Poland, United States, Canada, Chile, Australia
Key people
Rafael del Pino Calvo-Sotelo (Chairman), Ignacio Madridejos (CEO)
ServicesResidential, commercial property and infrastructure construction; toll road operation; airport and infrastructure management; waste management; facility management
RevenueIncrease €12.208 billion (2017)[1]
Increase €638 million (2017)[1]
Increase €454 million (2017)[1]
Total assetsIncrease €8.063 billion (2017)[2]
Total equityIncrease €6.234 billion (2017)[2]
Number of employees
Decrease 95,978 (2017)[2]
DivisionsAirports
Construction
Highways
Services
SubsidiariesAmey plc, AGS Airports (50%), Heathrow Airport Holdings (25%), Broadspectrum, Webber, Budimex, FerroNATS, Ditecpesa, Cintra US, Inacua, FBSerwus, Ferrovial Serviços, Zity, Ferrovial Servicios Chile, Cadagua, Tecpresa, Edytesa, Autema, Vialivre, B2in, BFK
Websitewww.ferrovial.com/en

Ferrovial S.E. (Spanish pronunciation: [feroˈβjal]), previously Grupo Ferrovial, is a Dutch-headquartered Spanish multinational company that operates in the infrastructure sector for transportation and mobility with four divisions: Highways, Airports, Construction, and Mobility and Energy Infrastructure.[3] The Highway sector develops, finances, and operates tolls on highways such as the 407 ETR, the North Tarrant Express, the LBJ Express, Euroscut Azores, I-66, I-77, NTE35W, and Ausol I. The company holds a 25% interest in the operator of Heathrow Airport. The Construction business designs and carries out public and private works such as roads, highways, airports, and buildings. The Mobility and Energy Infrastructure Department is responsible for managing renewable energy, sustainable mobility, and circular economy projects. Ferrovial is present in more than 20 countries where its business lines operate.[4][5]

In 2021, Ferrovial Services' infrastructure services area in Spain was sold to Portobello and the closing of the sale of its Environmental business in Spain and Portugal was signed in an agreement with PreZero, a Schwarz Group company.[6]

History

20th century

Ferrovial was founded by Rafael del Pino y Moreno in 1952 as a company focused on railway construction. Its first works consisted of the renovation of tracks for Renfe and operating railroad tie sleeper workshops.[7][8]

It receives its first international project in 1954: a railway project in Venezuela, and in 1956, it renovated the railway between Bilbao and Portugalete.[9]

In the 1960s, Ferrovial focused on the road market through the Redia Plan11 and the concession of the Bilbao-Behobia Highway, the first toll road tendered with private financing and management in Spain.[10]

The company expanded in the early years of the new millennium by acquiring 58.5% of Polish construction company Budimex Dromex S.A. in April 2000.[11]

In 1974, it obtained its second concession in Spain, the Burgos-Armiñón highway, which linked Burgos with Bilbao and the French border of Behobia. The 1970s came to a close with the award of a construction project on 700 kilometers of roads in Libya, and its construction was completed in 1986.[12]

In 1985, Ferrovial acquired Cadagua, an engineering and construction company for Water Treatment and Purification Plants established in 1971.[13] It was also awarded construction of the High-Speed Train between Madrid and Seville, as well as numerous infrastructure projects for the 1992 Olympic Games in Barcelona and the World Expo of Seville in 1992.[14]

That same year saw the appointment of Rafael del Pino Calvo-Sotelo as CEO, who began a strategic reorganization of the company.[15]

In 1995, Ferrovial acquired the construction company Agroman[16] founded in 1927, which it returned to record profits three years later. In 1997, construction began on the Guggenheim Museum of Modern and Contemporary Art[17] in Bilbao, where Ferrovial implemented a pioneering Environmental Management System in the European structure.[18]

In 1999, Ferrovial went public[19] and integrated all its construction activity into Ferrovial Agroman.[20] Following the founder's retirement in 2000, his son, Rafael del Pino Calvo-Sotelo, became chair.[21] That same year, Ferrovial took over Budimex, then the leading Polish construction company in terms of turnover and market capitalization.[22]

It was also awarded the Ontario Highway 407 407 ETR concession in Toronto, Canada.[23]

21st century

By following the internationalization and diversification strategy, Ferrovial acquired a 20% share in the Sydney Airport in the airport sector in 2002.[24]

Similarly, it acquired two urban services companies in 2003: the British company Amey[25] and Spanish company Cespa.[26] The concessionaire Cintra went public in 2004,[27] and in 2005, Ferrovial acquired the handling company Swissport[28] and the Texan construction company Webber.[29]

In 2006, the company bought the British airport operator BAA[30] and through this operation, it came to manage seven airports in the United Kingdom: Heathrow, Gatwick, Stansted, Glasgow, Edinburgh, Aberdeen, and Southampton, and it took ownership of shares and managing the Budapest Airport in Hungary, the Naples Airport in Italy, and the Melbourne airport in Australia. In 2006, Cintra also obtained the concession for operating the Indiana Toll Road turnpike.[31] and signed an agreement with the Texas Department of Transportation to build and manage Segments 5 and 6 of the SH-130 Turnpike, both of which are in the US.[32]

In 2007, Ferrovial sold the Budapest airport,[33] as well as its holdings in the Australian airports in Sydney, Melbourne, Launceston, Perth, and three airports in the Northern Territory.[34] It also started to concentrate its airport business in the UK. That year, Cintra signed a contract for the construction and operation of the Central Greece Toll Highway (E65),[35] and Amey was chosen by Network Rail (the UK's rail infrastructure manager) as one of its three exclusive providers for Britain's National Rail track renovation services.[36]

In 2008, the Montabliz viaduct, the highest aqueduct in Spain, was inaugurated and connected Cantabria and the plateau by road.[37] A year later, Cintra was awarded the construction, maintenance, and operation of the North Tarrant Express Highway in Texas in the US.[38] At the end of 2009, the company absorbed the highway management company Cintra;[39] it was awarded maintenance and management of the LBJ Express Texan highway;[40] it changed its corporate name to Ferrovial S.A.; and it sold the Gatwick airport for €1.659 billion, according to the British Competition Commission's indications, which opened a file at the end of 2008 for alleged monopoly.[41]

In 2009, the company was reunited under a new logo and brand image, with yellow and white establishing its hallmark. Several designs had been used before then, such as black letters on a yellow background which can still be seen on some old signs.[42]

In 2010, Ferrovial made several divestments in accordance with its asset rotation policy, which meant its departure from Swissport.[43] Through BAA, it announced the sale of its stake in Airport Property Partnership and the Naples Airport.[44] Likewise, Ferrovial, sold all its shares in Tube Lines (concessionaire of three London Underground lines) through Amey;[45] signed an agreement for the construction of Heathrow Terminal 2 in London;[46] and sold 60% of Cintra Chile.[47]

A year later in 2011, it sold 5.88% of BAA.[48] In addition, it announced the sale of the Edinburgh Airport, per the decision of the British Competition Commission.[49] In that same year, the company was also awarded a new construction section of the Crossrail including Farringdon Station,[50] as part of the project to build a fast railway connection passing through the city of London's underground. It had previously been awarded the construction of two tunnels between Royal Oak and Farringdon and the accesses and bays at the Bond Street and Tottenham Court Road stations. The company closed 2011 with a debt of €5.171 billion, one of the lowest in the sector, and it has one of the most international portfolios.[51][52][53][54]

In August 2012, Ferrovial announced the sale of 10.6% of BAA to Qatar Holding for €607 million, retaining a 39.37% stake in the UK airports manager following the deal. In October of the same year, 5.2% of Heathrow Airports Holding was sold for €319.3 million to the firm CIC International.[55]

In 2014, the international trading company Ferrovial International was created.[56] It was based in Spain and aimed to combine the company's active concessions, services, and construction abroad to participate in bids and thus be awarded new contracts. That same year, the company reduced its stake in Heathrow Airport by up to 25% after selling the pension fund for universities and other British educational institutions; this was 8.65% of its shares in the parent company.[57] With a contract to build an urban road in Saudi Arabia for €145 million, Ferrovial strengthened its presence in the Middle East.[58]

In 2015, it purchased 3 British airports (Aberdeen, Glasgow, and Southampton), for about €1.3 billion; it also strengthened its presence in the United Kingdom, where it was already a leader in services.[59] In addition, the central section of the Thames Tideway Tunnel was awarded in consortium with Laing O'Rourke.[60]

In 2016, Ferrovial expanded the 407 ETR in Toronto, Canada.[61] In addition, it signed a contract to manage and renovate the largest and fifth busiest airport in the United States: Denver International Airport.[62] It purchased the waste treatment company Biotran, strengthening its presence in the industrial services market.[63] That same year, and for the fifteenth consecutive year, it appeared on the Dow Jones Sustainability Index (DJSI) and was the only Spanish company in the sector in the global and European index.[64] Moreover, Ferrovial acquired Broadspectrum in May 2016. On June 30, 2018, it closed the sale of this company to Ventia.[65]

The company earned €376 million in 2016. Sales increased by 11% to €10.759 billion, and the Gross Operating Income (GOI) amounted to €944 million.[66]

At the end of the decade, in 2017, Ferrovial entered the urban mobility business by working with Renault to launch the carsharing operator Zity in Madrid.[65] In 2018, the company launched Wondo,[67] a Mobility as a Service start-up to provide residents access to the main urban mobility services in Madrid. In 2021, it finalized the sale of Wondo to the Finnish company MaaS Global.[68][69]

In the town of El Salado, Colombia, the company delivered a new water system[70] as part of the Social Infrastructures program: an aqueduct that is energetically powered by a solar panel facility, making it unique in the country. To spread the word about this project, the company worked with local artists to release a graphic novel as part of the campaign "Water for peace."[71]

Ignacio Madridejos was appointed as the new CEO of the company in 2019. The sale of Broad spectrum to Ventia for €303 million of Equity Value was also announced. The RiverLinx consortium, which Ferrovial participates in, was chosen to manage the Silvertown Tunnel in London.[70]

The start of the new '20s were marked by the fight against COVID-19. The company established the "Ferrovial Together COVID-19" fund, through which it donated €8.7 million to fight the pandemic through social, health-related, and research spheres.[72] In October 2021, Ferrovial launched its new Energy Infrastructure and Mobility business unit. That year, the divestment of the Services business unit also began with the sale of its Environmental business in Spain and Portugal to PreZero. The company was awarded the construction of a section of the Sydney Metro for €1.240 billion.[73] In the field of innovation, Ferrovial launched the AIVIA initiative for developing the 5G roads of the future; it renewed its agreement with MIT for another five years and with Lilium for developing a network of more than 10 vertiports in the United States.[74][75]

In April 2023, the company announced that it was moving its headquarters from Madrid to Amsterdam.[76]

In November 2023, the company announced the sale of its 25% stake in Heathrow Airport for £2.37 billion.[77][78] The equity is intended to be sold to Ardian, which would acquire 15%, and Saudi Arabia's Public Investment Fund, which would acquire the remaining 10%.[77] It was reported that Ferrovial expects to complete the sale by mid-2024, which is subject to regulatory conditions.[78]

Business Lines

Ferrovial operates through four divisions:

Highways

Through its subsidiary Cintra, Ferrovial is dedicated to the promotion and management of more than 20 highways with over 1,500 kilometers in 9 countries.

In Spain, it operates the Autema highway concession, A66, and the Autopista del Sol (E15), as well as the SerranoPark car park in Madrid.[79][80][81][82]

In Portugal, it owns a share in the Scut Açores highway. In Canada and the United States, it operates highways under a barrier-free toll system, including the 407 ETR, the 407 East Phase 2, and the 407 EDG highways (Toronto), the LBJ Expressway, the North Tarrant Express and NTE Extension (Dallas), and I-77 (North Carolina).[83][84][85]

In European countries, Ferrovial has a share in the M3 and M4 highways in Ireland, and it's carrying out the M8 improvement project in Scotland.[86][87][88][89]

In 2015, the group increased its profit by 80% to €720 million, following the sale and deconsolidation of highways.[90]

Airports

Ferrovial's first foray into private airport management was with the purchase of a share in the Mexican company Aeropuertos del Sureste in 1998.[91] Since then, Ferrovial has managed different airports around the world.[92]

With the acquisition of BAA in 2006,[56][57] now called Heathrow Airport Holdings (HAH),[93] it went on to manage seven airports in the United Kingdom: Heathrow, Gatwick, Stansted, Southampton, Aberdeen, Glasgow and Edinburgh. It also acquired two airports in Europe in Naples and Budapest, which it would later sell. Following the British Competition Commission's decision,[94] Ferrovial sold Gatwick Airport in 2009,[41] announced the sale of Edinburgh Airport in April 2012,[95] and put the Stansted airport up for sale in August of the same year.[96]

Ferrovial currently operates four airports in the United Kingdom: Heathrow, Southampton, Glasgow, and Aberdeen.[97][98]

At the beginning of 2021, Ferrovial Airports announced its foray into the urban air mobility (UAM) and advanced air mobility (AAM) business through the construction and design of vertiports, the infrastructures needed by eVTOLs. Currently, Ferrovial has announced its plans for the development of vertiport networks in Spain, the United Kingdom, and the United States.[99]

In 2022, Ferrovial Airports reached an agreement with the Turkish infrastructure company YDA Group for the acquisition of a 60% stake in the company that manages the concession of Dalaman International Airport in Turkey.[100][101][102]

Construction

The company's construction division, which was called Ferrovial Agroman until 2020, is now Ferrovial Construction, and has been involved in the following major projects:

Construction subsidiaries

Mobility and Energy Infrastructure

Ferrovial Mobility and Energy Infrastructures promote the transition to a sustainable and clean economy and are involved in projects such as offshore wind farms.[115]

Services

In 2021, Ferrovial Services' infrastructure services area in Spain was sold to Portobello, and it came to an agreement with PreZero, a Schwarz Group company, on closing the sale of its Environmental business in Spain and Portugal. This division was in charge of the maintenance and conservation of infrastructures and services, as well as managing urban and environmental services. It has the following international subsidiaries:[68][116]

  • Broadspectrum in Australia and New Zealand was acquired in May 2016; it is dedicated to services in the area of transportation, urban infrastructure, natural resources, and provisions for public administrations.[117]
  • Amey in the United Kingdom engaged in infrastructure maintenance and facility and waste management. The British subsidiary will manage 370 kilometers of highways in the United Kingdom.[118]
  • Steel Ferrovial Services provides mining services in Chile.[119]

Sustainability

Ferrovial has been recognized by global entities for its sustainable practices.

Guggenheim museum, Bilbao.
  • Dow Jones: Since 2002, it has been listed on the index of the most sustainable companies in the world.[120]
  • FTSE4Good: Ferrovial has been on the FTSE4Good Global Index since 2004.[121]
  • Carbon Disclosure Project: ranked among the companies with the best practices in reducing carbon emissions.[122]
  • MSCI Global Sustainability Index: "A" rating. Through the analysis carried out by its research department, MSCI Research, it uses information to make investments with sustainable criteria.[123]
  • GRESB: rating of 87 out of 100. We're also part of the GLIO/GRESB ESG Index.[124]

Criticism

The Palau Case

As part of the Palau Case investigation, Anti-Corruption discovered "sufficient evidence" of Ferrovial Agroman paying illicit commissions to the Democratic Convergence of Catalonia (CDC) party through the Palau de la Música Catalana to ensure that public works such as the City of Justice and the unfinished line 9 of the Barcelona Metro station would be awarded to them.[125]

On January 15, 2018, the Provincial Court of Barcelona issued a judgment in the Palau Case, acquitting the two executives related to Ferrovial Agroman. The prosecution appealed that acquittal, but the appeal was dismissed by the Supreme Court.[125]

References

  1. 1 2 3 "Business Performance 2017". Ferrovial. Retrieved 17 March 2018.
  2. 1 2 3 "Business Performance 2017". Ferrovial. Retrieved 17 March 2018.
  3. ↑ "Ferrovial: premio a la presencia exterior" (in Spanish). 3 November 2014.
  4. ↑ "The World's Biggest Public Companies". Forbes.
  5. ↑ "Grupo Ferrovial SA". Bloomberg.
  6. ↑ Magariño, Javier Fernández (2022-02-01). "Ferrovial cierra la venta a Portobello del área de servicios a infraestructuras en España por 170 millones". Cinco Días (in Spanish). Retrieved 2023-03-10.
  7. ↑ Rafael Castro Balaguer, Rafael de Pino y Montero – Ferrovial (1), [in:] Finanzas para mortales website 11.07.17, available here
  8. ↑ Ferrovial Business Lines: 1990s
  9. ↑ "Official Cintra Website - History". Archived from the original on 2014-08-12. Retrieved 2009-02-02.
  10. ↑ Ferrovial - History
  11. ↑ Investment Profile Poland: Page 21 Archived 2007-10-16 at the Wayback Machine
  12. ↑ Spanish firm set to buy Amey
  13. ↑ Spanish firm secures Northern Ireland Airport
  14. ↑ Webber Acquisition
  15. ↑ "Bloomberg Politics - Bloomberg". Bloomberg News. Archived from the original on 2006-02-06.
  16. ↑ BAA agrees to Ferrovial takeover
  17. ↑ "Reuters | Breaking International News & Views". Reuters.
  18. ↑ Ferrovial sells Sidney airport
  19. ↑ "Newsfeed". Ferrovial. Archived from the original on 2012-11-30. Retrieved 2017-11-12.
  20. ↑ Ferrovial Management Changes
  21. ↑ BAA completes sale of Australian assets
  22. ↑ BAA sells World Duty Free shops
  23. ↑ Ferrovial's BAA agrees to the partial sale of APP assets for 265 mln stg
  24. ↑ "Ferrovial sells Belfast". Archived from the original on 2012-02-17. Retrieved 2022-02-18.
  25. ↑ Amey reaches financial close on £2.7bn Birmingham Highways PFI
  26. ↑ "Cintra Sells Car Parks Division". Archived from the original on 2016-03-03. Retrieved 2010-09-14.
  27. ↑ "BAA sells Gatwick airport for 1.657 billion euro". Archived from the original on 2012-02-29. Retrieved 2010-09-14.
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  29. ↑ "Cintra finishes raising 2 billion dollars to finance the North Tarrant Express in Texas". Archived from the original on 2012-02-29. Retrieved 2010-09-14.
  30. ↑ "Cintra sells 60% of its Chilean subsidiary to ISA for 209 million euros". Archived from the original on 2012-02-29. Retrieved 2010-09-14.
  31. ↑ "Razed M3 site 'was national monument'". The Irish Times. Retrieved 2019-07-23.
  32. ↑ "Top 10 Discoveries of 2007 - Lismullin Henge, Tara, Ireland - Archaeology Magazine Archive". archive.archaeology.org. Retrieved 2019-07-23.
  33. ↑ Harvey, Adam. "Dispute over effects of M3 work". The Irish Times. Retrieved 2019-07-23.
  34. ↑ "Tara". DiscoveryProgramme. Retrieved 23 July 2019.
  35. ↑ "Rath Lugh - Images of Destruction".
  36. ↑ "Heaney hits out over 'tar on Tara'". 2008-03-01. Retrieved 2019-07-23.
  37. ↑ "M45 Motorway". www.irishmotorwayinfo.com. Retrieved 2019-07-23.
  38. ↑ TfL completes Tube Lines buy out
  39. ↑ Amey buys WYG rail division
  40. ↑ "Ferrovial sells its 50% stake in Autopista Trados 45 for 67 million euro". Archived from the original on 2012-02-29. Retrieved 2010-09-14.
  41. 1 2 Spanish firm acquires U.K. waste management firm
  42. ↑ Edinburgh Airport sold to Global Infrastructure Partners for £807m BBC, 23 April 2012
  43. ↑ Ferrovial completes sale of 10.62% of Heathrow Airport Holdings to Qatar Holding
  44. ↑ BBC News - Stansted Airport being sold to Manchester for £1.5bn
  45. ↑ Ferrovial buys Enterprise from 3i for £385m The Telegraph, 21 February 2013
  46. ↑ Davidson, Helen (29 October 2017). "Manus Island: dark chapter of Australian immigration poised to close". The Guardian. Retrieved 30 October 2017.
  47. ↑ "Ferrovial y el Gobierno de Madrid, enfrentados por la autopista M-203". Expansión.
  48. ↑ "Serrano a 16,5 metros bajo tierra". El País. 26 October 2010.
  49. ↑ "Ferrovial y Unicaja venden el 85% de la Autopista del Sol (Málaga)" [Ferrovial and Unicaja sell 85% of the Autopista del Sol (Málaga)]. Cincodias.elpais.com (in Spanish). El País. 14 June 2019. Retrieved 1 September 2019. Ferrovial y Unicaja han vendido el 85% de la Autopista del Sol (Ausol), infraestructura en la que el banco tenía el 20% del capital y la constructora, el 20% restante. Tras la operación, Ferrovial se quedará con una participación del 15% sobre la que pesa una opción de compra y de venta, mientras que Unicaja sale del capital. El precio total de la operación ha sido de 584,6 millones entre las dos operaciones. BBVA ha sido asesor en la operación de Cintra, propietaria de Ausol, y de Unicaja.
  50. ↑ "Se abre al tráfico la primera autopista de Ferrovial en Portugal". Euroinmo.
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  53. ↑ "Ferrovial vende una participación en dos autopistas irlandesas". El País. 15 September 2015.
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  55. ↑ "El calculado adiós a México de Ferrovial". América Económica. Archived from the original on 2016-03-07. Retrieved 2018-11-01.
  56. 1 2 "Ferrovial se hace con el 83% de BAA con su opa". El Mundo.
  57. 1 2 "Annual accounts". Página web antigua BAA.
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  59. ↑ "Ferrovial vende el aeropuerto de Edimburgo por casi mil millones". Expansión.
  60. ↑ "Ferrovial abandona la lucha legal y venderá el aeropuerto de Stansted". El Mundo.
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  62. ↑ "Los aeropuertos de Heathrow y Gatwick registran récord de viajeros en mayo". Expansión.
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  64. ↑ "Ferrovial adquiere una de las mayores constructoras de Texas, Webber Group". El Mundo.
  65. 1 2 Magariño, Javier Fernández (2021-05-27). "Ferrovial entra en la finlandesa MaaS Global con la aportación de su 'app' de movilidad Wondo". Cinco Días (in Spanish). Retrieved 2023-03-11.
  66. ↑ "Ferrovial, el constructor de autopistas de EEUU" (in Spanish).
  67. ↑ "Ferrovial entrega sistema de agua en El Salado, Colombia". The Manufacturer. Retrieved 2023-03-11.
  68. 1 2 Magariño, Javier Fernández (2022-02-01). "Ferrovial cierra la venta a Portobello del área de servicios a infraestructuras en España por 170 millones". Cinco Días (in Spanish). Retrieved 2023-03-11.
  69. ↑ "Ferrovial y Renault lanzan 'Zity' para competir con Car2Go en Madrid".
  70. 1 2 "Ignacio Madridejos, nombrado Consejero Delegado de Ferrovial Ferrovial". Ferrovial (in Spanish). Retrieved 2023-03-11.
  71. ↑ "Ferrovial gana el Túnel Silvertown de Londres por unos 2.000 millones".
  72. ↑ EP (2021-07-16). "Ferrovial y Acciona se adjudican la construcción de un tramo del Metro de Sídney por 1.240 millones". Cinco Días (in Spanish). Retrieved 2023-03-11.
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  74. ↑ Magariño, Javier Fernández (2021-04-16). "Ferrovial renueva por cinco años su acuerdo de investigación con el MIT". Cinco Días (in Spanish). Retrieved 2023-03-11.
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  76. ↑ "'Ferrovial is not leaving Spain' says chairman, as HQ move to Netherlands approved - Spain in English". Spain in English. 14 April 2023. Retrieved 12 August 2023.
  77. 1 2 Strydom, Martin (2023-11-29). "Ferrovial sells its 25% stake in Heathrow for £2.4bn". ISSN 0140-0460. Retrieved 2023-11-29.
  78. 1 2 "Ferrovial to sell its 25% stake in London's Heathrow for $3 billion". Reuters. 2023-11-29. Retrieved 2023-11-29.
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  80. ↑ "Ferrovial refuerza su apuesta por Estados Unidos con la compra de la texana Webbe" (in Spanish). 10 August 2005.
  81. ↑ "Company Overview of Ferrovial Agroman US Corp". Bloomberg News (in Spanish).
  82. ↑ "Ferrovial reorganiza su filial de servicios para crecer más en Australia y EEUU" (in Spanish).
  83. ↑ "Ferrovial prolongará la autopista 407 en Canadá por 780 millones" (in Spanish). 23 May 2012.
  84. ↑ "Ferrovial awarded two road maintenance contracts in Canada worth 200 million euro". Ferrovial. Retrieved 4 January 2020.
  85. ↑ "Broadspectrum finally gives into Ferrovial's overtures".
  86. ↑ "Ferrovial entra al mercado de la transmisión eléctrica con la compra de Transchile". El País (in Spanish). 13 September 2016.
  87. ↑ Gerrard, Bradley (6 April 2017). "Heathrow's largest shareholder sees 'positive side effects' from Brexit". The Telegraph.
  88. ↑ "Ferrovial cierra la compra de la británica Amey y la excluye de Bolsa" (in Spanish). 30 May 2003.
  89. ↑ Morby, Aaron (14 June 2021). "Ferrovial UK arm edges into profit after five years of losses". Construction Enquirer. Retrieved 14 June 2021.
  90. ↑ "18 companies suspended from Prompt Payment Code". PBCToday. 17 July 2019. Retrieved 17 July 2019.
  91. ↑ "Ferrovial history: 1990s". Archived from the original on 2010-08-06. Retrieved 2007-12-01.
  92. ↑ "Top 10 Discoveries of 2007 - Lismullin Henge, Tara, Ireland - Archaeology Magazine Archive". archive.archaeology.org. Retrieved 2019-07-23.
  93. ↑ "Hotel Marqués de Riscal". On Diseño.
  94. ↑ "CaixaForum Madrid". Herzog & de Meuron. Retrieved 1 November 2018.
  95. ↑ "Montabliz, con 198 metros, es el viaducto más alto de España". El Diario Montanes. 3 September 2018.
  96. 1 2 'Celtic Tiger threatens 'very soul of historic Ireland'
  97. ↑ "Ferrovial y Sando se adjudican las obras de ampliación del aeropuerto de Málaga por 17,4 millones". La opinión de Málaga. 26 April 2006.
  98. ↑ "Los mil y un viaductos de Ferrovial en las Azores". Expansion.
  99. ↑ "Ferrovial construirá 25 vertiports eVTOL en Reino Unido. - Avatar Energía, blog de Energías Renovables". avatarenergia.com (in Spanish). 2021-10-30. Retrieved 2023-03-11.
  100. ↑ "Ferrovial compra el Aeropuerto de Dalaman en Turquía por 140 millones".
  101. ↑ Cáceres, Iván (2021-12-16). "Vertipuertos y taxis aéreos, la próxima revolución del transporte que encabeza Ferrovial en España". Business Insider España (in Spanish). Retrieved 2023-03-11.
  102. ↑ EFE (2021-10-18). "Ferrovial planifica su primer vertipuerto para aerotaxis eléctricos en Florida". Cinco Días (in Spanish). Retrieved 2023-03-11.
  103. ↑ "Ferrovial history: 1990s". Archived from the original on 2010-08-06. Retrieved 2007-12-01.
  104. ↑ "Ferrovial history: 2000 - 2004". Archived from the original on 2009-02-07. Retrieved 2007-12-01.
  105. ↑ "Hotel Marqués de Riscal". On Diseño.
  106. ↑ "CaixaForum Madrid". Herzog & de Meuron. Retrieved 1 November 2018.
  107. ↑ "Montabliz, con 198 metros, es el viaducto más alto de España". El Diario Montanes. 3 September 2018.
  108. ↑ "Ferrovial y Sando se adjudican las obras de ampliación del aeropuerto de Málaga por 17,4 millones". La opinión de Málaga. 26 April 2006.
  109. ↑ "Los mil y un viaductos de Ferrovial en las Azores". Expansion.
  110. ↑ "Ferrovial Agroman to build Heathrow Airport's new Terminal 2". Archived from the original on 2011-07-10. Retrieved 2010-09-14.
  111. ↑ "Crossrail awards major construction contracts for Farringdon and Whitechapel stations". Crossrail. 23 November 2011. Retrieved 1 September 2019.
  112. ↑ "Ferrovial toma el 20% del aeropuerto de Sidney por 233 millones". abc (in Spanish). 2002-06-26. Retrieved 2023-03-11.
  113. ↑ "Ferrovial adquirirá la constructura de Banesto, Agroman, por 2.000 millones de pesetas".
  114. ↑ Sevilla, Diario de (2008-06-16). "Muere Rafael del Pino, el hombre que hizo de las traviesas un imperio". Málaga Hoy (in European Spanish). Retrieved 2023-03-11.
  115. ↑ "Ferrovial and RWE team up on offshore wind in Spain". RWE. Retrieved 11 March 2023.
  116. ↑ EENDA. "PreZero completa la compra de la división de Medio Ambiente de Ferrovial". www.eysmunicipales.es (in Spanish). Retrieved 2023-03-11.
  117. ↑ EFE (2015-09-15). "Ferrovial vende una participación en dos autopistas irlandesas". Cinco Días (in Spanish). Retrieved 2023-03-11.
  118. ↑ "Ferrovial mantendrá 885 km de autopistas en Escocia por 114 millones de euros". La Vanguardia (in Spanish). 2014-06-17. Retrieved 2023-03-11.
  119. ↑ Redacción (2017-03-07). "Cintra: una excelencia española en Eslovaquia". Buenos diás Eslovaquia (in Spanish). Retrieved 2023-03-11.
  120. ↑ "Ferrovial se hace con el 83% de BAA con su opa | elmundo.es". www.elmundo.es. Retrieved 2023-03-11.
  121. ↑ DÍAS, CINCO (2022-08-10). "Ferrovial baraja vender su 25% en el aeropuerto de Heathrow". Cinco Días (in Spanish). Retrieved 2023-03-11.
  122. ↑ Magariño, Javier Fernández (2021-10-28). "Ferrovial crea el área de Infraestructuras Energéticas y Movilidad con Gonzalo Nieto al frente". Cinco Días (in Spanish). Retrieved 2023-03-11.
  123. ↑ Maza, Celia (2015-12-12). "Ferrovial, atrapada en la batalla política por la ampliación de Heathrow". elconfidencial.com (in Spanish). Retrieved 2023-03-11.
  124. ↑ "Participant members".
  125. 1 2 "El Supremo ratifica las condenas de Millet y Montull, y el comiso de 6, 6 millones a CDC". La Vanguardia (in Spanish). 2020-04-30. Retrieved 2023-03-11.
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