{"id":838469,"date":"2025-04-02T08:11:49","date_gmt":"2025-04-02T13:11:49","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/02\/ferrovial-profit-surges-amid-order-book-boost\/"},"modified":"2025-04-02T08:11:49","modified_gmt":"2025-04-02T13:11:49","slug":"ferrovial-profit-surges-amid-order-book-boost","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/02\/ferrovial-profit-surges-amid-order-book-boost\/","title":{"rendered":"Ferrovial profit surges amid order book boost"},"content":{"rendered":"
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\"Ferrovial-worker.jpg\"<\/p>\n

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Ferrovial\u2019s UK contracting arm has almost tripled its pre-tax profit after its revenue exceeded \u00a3500m for the second year running.\u00a0<\/span><\/p>\n

The London-based subsidiary of the Spanish conglomerate recorded a pre-tax profit of \u00a314.1m in the year to 31 December 2024, compared with \u00a35.5m the year before.\u00a0<\/span><\/p>\n

Turnover at Ferrovial Construction (UK) rose by 1 per cent year-on-year to \u00a3532m compared with \u00a3527m the year before.\u00a0<\/span><\/p>\n

In accounts filed with Companies House yesterday (31 March), Ferrovial said the rise in turnover was in line with \u201cforecasted growth\u201d and due to \u201cthe lifecycle of existing projects\u201d.\u00a0<\/span><\/p>\n

Construction contracts comprised the bulk of the firm\u2019s revenue at \u00a3490.7m, up from \u00a3482.9m in 2023. However, turnover from services slipped from \u00a343.6m to \u00a340.8m. \u00a0<\/span><\/p>\n

The firm said the \u201csteady improvement\u201d in 2024 reflected \u201cprogress made by management to return the company towards the profit margins expected of it\u201d.\u00a0<\/span><\/p>\n

Its profit margin widened to 2.7 per cent, compared with 1 per cent in 2023.\u00a0<\/span><\/p>\n

Costs for subcontractors and materials were broadly flat at \u00a3368.3m in the latest year.<\/p>\n

However, the contractor\u2019s net cash balance at year-end fell to \u00a3131m, compared with \u00a3189m the prior year.<\/p>\n

Ferrovial said this was partly due to completing the \u201cfinal phases of loss-making projects\u201d.\u00a0<\/span><\/p>\n

Before turning a pre-tax profit in the past two years, Ferrovial Construction (UK) suffered a \u00a330m loss due to its Silvertown Tunnel project<\/a>.<\/p>\n

Work on the tunnel has been completed and it is due to open on 7 April.<\/p>\n

No dividend was paid for the second year in a row and there was no external bank loan debt, the accounts revealed.<\/p>\n

The firm reported that its order book at the end of 2024 was nearly \u00a31.4bn, up from \u00a3648m in 2023.\u00a0<\/span><\/p>\n

Two major contract wins accounted for the jump. One of these was a joint venture with Bam for track infrastructure on the entire 140-mile route of HS2<\/a>.<\/p>\n

The other was a \u00a3230m contract with National Grid<\/a> for a 2.2km-long tunnel as part of an upgrade to electricity infrastructure.\u00a0<\/span><\/p>\n

Ferrovial\u2019s average number of staff in 2024 was broadly flat at 563. It employed a monthly average of 566 employees the year before.<\/p>\n

Its overall annual wage bill dropped slightly from \u00a355.3m to \u00a354.2m.\u00a0<\/span><\/p>\n

Looking ahead, the firm said it remained focused on increasing revenue \u201csustainably\u201d, improving its operating margin, growing its cash reserves and boosting its order book.\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n

Read More<\/a>
\n James Wilmore<\/p>\n","protected":false},"excerpt":{"rendered":"

Ferrovial\u2019s UK contracting arm has almost tripled its pre-tax profit after its revenue exceeded \u00a3500m for the second year running.\u00a0 The London-based subsidiary of the Spanish conglomerate recorded a pre-tax profit of \u00a314.1m in the year to 31 December 2024, compared with \u00a35.5m the year before.\u00a0 Turnover at Ferrovial Construction (UK) rose by 1 per<\/p>\n","protected":false},"author":1,"featured_media":838470,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[105406,23002],"tags":[],"class_list":{"0":"post-838469","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ferrovial","8":"category-profit"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/838469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=838469"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/838469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/838470"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=838469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=838469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=838469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}