Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Ferrovial    FER   ES0118900010

FERROVIAL

(FER)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Ferrovial : completes sale of Broadspectrum to Ventia for 465 million Australian dollar

share with twitter share with LinkedIn share with facebook
07/08/2020 | 07:06am EDT
  • The rest of Ferrovial's services division is still available for sale
  • The transaction was completed within the established deadlines
  • The deal is in line with the company's new strategy, focused on developing, building and operating sustainable infrastructures

Ferrovial has completed the sale of Broadspectrum to Ventia for 465 million Australian dollar (about 291 million euro). The deal is part of the divestment of Ferrovial's services subsidiary that commenced in February 2019 and comprises the Broadspectrum businesses in Australia and New Zealand. The figure does not include Ferrovial's 50% stake in a joint venture with a local partner, for which there is an irrevocable purchase offer issued by Ventia amounting 12 million euros.

The deal was completed after receiving approval from regulators and competition authorities.

Broadspectrum and Ventia are highly complementary businesses. Ventia is a specialist infrastructure services provider in Australia and New Zealand. Broadspectrum reported a backlog of 4,064 million euro at the end of 2019.

Ferrovial acquired Broadspectrum in May 2016, including not only its operations in Australia and New Zealand but also those in the United States, Canada and Chile, which are not covered by this deal. Following the acquisition, those three territories were integrated into Ferrovial Services International.

Moving towards sustainable infrastructure

Ferrovial classified all its Services businesses as 'available for sale' as of 31 December 2018. This decision was the result of an overall strategic review of all the businesses aimed at focusing the company's future on the development of infrastructure, the prime source of value and returns for its shareholders.

In that same vein, this year Ferrovial adopted the Horizon 24 Plan, a strategy for 2020-2024 in which the company will focus on the development, construction and operation of sustainable infrastructure. The plan pursues profitability based on 11% annual EBITDA growth. The objective is excellence in the development and management of sustainable infrastructure through innovation, efficiency, and the selection of businesses and markets.

The sale of Broadspectrum is the first milestone in that process. The divestment of the other Ferrovial Services businesses (including the Spanish, UK and International markets) is ongoing.

Disclaimer

Ferrovial SA published this content on 30 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 July 2020 11:03:04 UTC

share with twitter share with LinkedIn share with facebook
Latest news on FERROVIAL
08/11FERROVIAL : UK's Heathrow Airport passenger numbers down 88% amid ongoing travel..
RE
07/31FERROVIAL : awarded $115 Million IH 35 Project in Laredo
PU
07/30FERROVIAL : reports €128 million in EBITDA in the first half
PU
07/30FERROVIAL : How Is a Company's or Individual's Carbon Footprint Measured?
PU
07/29Pandemic Spoils Food Industry Results -- Earnings at a Glance
DJ
07/29Blue Apron, Scotts Miracle-Gro Benefit From Stay-at-Home Measures -- Earnings..
DJ
07/28FERROVIAL : Collaboration Between Companies, the Key to Addressing Major Social ..
PU
07/24FERROVIAL : awarded €288 million contract to expand Porto Metro
PU
07/20FERROVIAL : Saving Lives with Road Saftey Technology
PU
07/17FERROVIAL : Presentación 1T 2020 (enero – marzo)
PU
More news
Financials
Sales 2020 5 786 M 6 830 M 6 830 M
Net income 2020 -262 M -310 M -310 M
Net Debt 2020 3 387 M 3 998 M 3 998 M
P/E ratio 2020 -62,8x
Yield 2020 2,82%
Capitalization 16 843 M 19 862 M 19 883 M
EV / Sales 2020 3,50x
EV / Sales 2021 3,45x
Nbr of Employees 18 399
Free-Float 63,5%
Chart FERROVIAL
Duration : Period :
Ferrovial Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FERROVIAL
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 26,03 €
Last Close Price 22,93 €
Spread / Highest target 35,2%
Spread / Average Target 13,5%
Spread / Lowest Target -9,73%
EPS Revisions
Managers
NameTitle
Ignacio Madridejos Fernández Chief Executive Officer & Director
Rafael del Pino y Calvo-Sotelo Executive Chairman
Ernesto López Mozo Chief Financial Officer
Federico Flórez Gutiérrez Chief Information & Innovation Officer
María del Pino y Calvo-Sotelo Director
Sector and Competitors