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INDUSTRIALS | Construction / Construction & Design Services
ferrovial.com

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Investments

5

Portfolio Exits

4

Partners & Customers

10

About Ferrovial

Ferrovial (FER.MC), together with its subsidiaries, operates as an infrastructure and mobility operator globally. The company is engaged in the design and construction of various public and private works; and development, finance, and operation of toll roads. Its construction activities include highways, tunnels, railways, bridges and viaducts, airports, intelligent toll systems, port and airport infrastructures, buildings, energy restoration, aqueducts, water treatment plants, desalination plants, digesters, thermal drying plants, chimneys and silos, caissons, storage tanks, solar power towers, oil facilities, and other construction. The company is also involved in the operation and maintenance services of urban and industrial waste water treatment plants, and water treatment and desalination plants. It was founded in 1952 and is based in Madrid, Spain.

Ferrovial Headquarter Location

Calle Príncipe de Vergara, 135

Madrid, 28002,

Spain

+34 91 586 2500

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Ferrovial Web Traffic

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Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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Ferrovial Rank

Latest Ferrovial News

Spain’s Ferrovial studies options for stake in Heathrow Airport – sources

Aug 10, 2022

Madrid-based Ferrovial ranks as Heathrow Airport's single largest investor, with a 25% stake LONDON, United Kingdom – Spain’s Ferrovial is looking at options for its 25% stake in London’s Heathrow , two sources told Reuters, and has held preliminary talks with external advisers on the future of its holding in Britain’s biggest airport. The early stage discussions come amid interest in Ferrovial’s stake from private equity firm Ardian, which has held talks with its own advisers on a possible joint proposal with Saudi Arabia’s Public Investment Fund (PIF), these sources and another person familiar with the matter said. Ferrovial has yet to take a final decision and the discussions may not result in a sale, all the sources said. Shares in the Madrid-listed firm rose as much as 4.2% on the Reuters report. At market close they were up 3.7%, scoring their second best day in five months and becoming the third best performing stock across the pan-European STOXX 600 index. Ferrovial and Ardian both declined to comment while PIF did not immediately respond to a request for comment. Ferrovial’s Heathrow holding is worth about 1.6 billion euros ($1.63 billion), Citi analysts said on Tuesday, August 9, commanding an overall valuation of 26 billion euros including debt for the British airport. However, given hefty transaction multiples previously applied to the sale of London’s Luton and Gatwick airports, Ferrovial could cash out for anything between 2.9 billion and 3.5 billion euros, the Citi note said. Insight Investment Research analyst Robert Crimes told Reuters the equity value of Ferrovial’s 25% stake in Heathrow could be close to 2 billion euros. He added Ferrovial’s stock had yet to reflect the post-pandemic recovery in traffic volumes and inflation-linked returns. Heathrow, which Aviation data firm OAG said was the world’s fifth busiest airport in July, was hard hit by coronavirus lockdowns, but raised its 2022 traffic forecast to 54.4 million passengers in June after a travel rebound. Madrid-based Ferrovial, which controls Spanish transport infrastructure developer Cintra and has stakes in motorways in the United States and Canada, has been invested in Heathrow Airport for 16 years and ranks as its single largest investor. Qatar Investment Authority (QIA), which has a 20% stake in Heathrow, is the second biggest investor in the busy British airport, while Caisse de dépôt et placement du Québec (CDPQ), Singapore’s wealth fund GIC, and China Investment Corporation also have sizable holdings. QIA declined to comment while CDPQ, GIC, and China Investment Corporation were not immediately available. Paris-based Ardian teamed up with Credit Agricole Assurances in 2015 to buy a 49% stake in 2i Aeroporti, one of Italy’s largest airport networks, with indirect stakes in Milan’s Malpensa and Linate, among others. A separate source who worked on the 2006 acquisition of Ferrovial’s Heathrow holding said that while the Spanish firm’s board had frequently reviewed its strategy over the years, it had never reached a consensus over selling the stake. This source said Ardian made an initial approach for the Heathrow stake last year, but discussions did not advance. Airport bets Ferrovial appointed aviation veteran Luke Bugeja to run its airports business last year, which one of the sources said could accelerate a strategic review of Heathrow. Airports accounted for a third of Ferrovial’s proportional earnings before interest, taxes, depreciation, and amortization (EBITDA) in the first half of this year, from 45% prior to 2019 before the industry was hit by the COVID-19 pandemic. After a series of losses, Ferrovial pointed last week to a recovery in the airport business, thanks to an easing of restrictions as it posted a profit. It also bet further on the industry in June with a deal to buy a stake in the consortium that will build and operate a new terminal at New York’s JFK International Airport. But its Heathrow experience has been difficult and the chief financial officer of its airports business, Ignacio Castejon, said during last year’s third quarter earnings he was “very skeptical” about contributing further capital, citing a lack of recovery in its economic value and low equity returns. Heathrow said last year it does not expect a full recovery before 2026, after airports globally suffered a huge drop in traffic when the COVID-19 pandemic grounded planes. Ferrovial bought an indirect stake of 55.87% in Heathrow Airport Holdings in 2006. It sold 10.6% to Qatar Holding LLC in 2012 and eventually reduced its stake to 25% in 2013. The firm openly criticized the British aviation regulator’s decision in June to set lower than hoped for caps on landing fees Heathrow can charge over the next four years. While companies have eased off mergers and acquisitions as inflation rages and recession fears rise , the infrastructure sector clocked up one of this year’s biggest deals, a 58-billion-euro take-private bid for Italy’s Atlantia. – Rappler.com $1 = 0.9794 euro

Ferrovial Investments

5 Investments

Ferrovial has made 5 investments. Their latest investment was in Inspiration as part of their Unattributed on May 5, 2022.

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Ferrovial Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/18/2022

Unattributed

Inspiration

$215M

Yes

1

11/8/2021

Corporate Minority - P2P

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$99M

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10

10/7/2021

Seed VC

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$99M

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10

8/26/2021

Series B - IV

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$99M

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10

4/6/2000

Corporate Minority

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10

Date

5/18/2022

11/8/2021

10/7/2021

8/26/2021

4/6/2000

Round

Unattributed

Corporate Minority - P2P

Seed VC

Series B - IV

Corporate Minority

Company

Inspiration

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Amount

$215M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

10

10

Ferrovial Portfolio Exits

4 Portfolio Exits

Ferrovial has 4 portfolio exits. Their latest portfolio exit was Ferrovial - Timec Oil & Gas on December 02, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/2/2021

Divestiture

Ferrovial - Timec Oil & Gas

$99M

1

10/28/2021

Divestiture

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$99M

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10

7/27/2021

Divestiture

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$99M

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10

6/30/2020

Acquired

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$99M

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10

Date

12/2/2021

10/28/2021

7/27/2021

6/30/2020

Exit

Divestiture

Divestiture

Divestiture

Acquired

Companies

Ferrovial - Timec Oil & Gas

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Valuation

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

10

Ferrovial Acquisitions

8 Acquisitions

Ferrovial acquired 8 companies. Their latest acquisition was YDA Group on February 24, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/24/2022

$99M

Corporate Majority

1

7/19/2017

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$99M

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10

10/29/2016

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$99M

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10

5/15/2016

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$99M

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10

4/9/2013

Private Equity

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$99M

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10

Date

2/24/2022

7/19/2017

10/29/2016

5/15/2016

4/9/2013

Investment Stage

Private Equity

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Corporate Majority

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Sources

1

10

10

10

10

Ferrovial Partners & Customers

10 Partners and customers

Ferrovial has 10 strategic partners and customers. Ferrovial recently partnered with cadagua on May 5, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

5/11/2022

Vendor

2

2/1/2022

Partner

United States

Ferrovial and Microsoft establish a global partnership to develop digital solutions for the construction, infrastructure and mobility industries

Ferrovial and Microsoft have established a global alliance to advance the development of sustainable digital solutions for the construction , infrastructure and mobility industries in line with both companies ' commitment to innovation , digital transformation and the decarbonization of the economy .

2

11/18/2021

Vendor

Spain

Telefónica Tech joins Ferrovial initiative to develop the 5G highways of the future

Under the agreement , Telefónica joins existing partners Microsoft , 3M , Kapsch TrafficCom and Capgemini .

1

10/28/2021

Partner

United Kingdom

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10

7/30/2021

Partner

France

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10

Date

5/11/2022

2/1/2022

11/18/2021

10/28/2021

7/30/2021

Type

Vendor

Partner

Vendor

Partner

Partner

Business Partner

Country

United States

Spain

United Kingdom

France

News Snippet

Ferrovial and Microsoft establish a global partnership to develop digital solutions for the construction, infrastructure and mobility industries

Ferrovial and Microsoft have established a global alliance to advance the development of sustainable digital solutions for the construction , infrastructure and mobility industries in line with both companies ' commitment to innovation , digital transformation and the decarbonization of the economy .

Telefónica Tech joins Ferrovial initiative to develop the 5G highways of the future

Under the agreement , Telefónica joins existing partners Microsoft , 3M , Kapsch TrafficCom and Capgemini .

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Sources

2

2

1

10

10

Ferrovial Team

13 Team Members

Ferrovial has 13 team members, including current Chief Executive Officer, Ignacio Madridejos.

Name

Work History

Title

Status

Ignacio Madridejos

Chief Executive Officer

Current

Ignacio Madridejos

Chief Executive Officer

Current

Gonzalo Nieto Mier

Chief Executive Officer

Current

Ernesto López Mozo

Chief Financial Officer

Current

Dimitris Bountolos

Chief Information Officer

Current

Name

Ignacio Madridejos

Ignacio Madridejos

Gonzalo Nieto Mier

Ernesto López Mozo

Dimitris Bountolos

Work History

Title

Chief Executive Officer

Chief Executive Officer

Chief Executive Officer

Chief Financial Officer

Chief Information Officer

Status

Current

Current

Current

Current

Current

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