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Ferrovial S A : H1 revenues rise 6.3% on traffic recovery

07/27/2021 | 01:28pm EDT

MADRID, July 27 (Reuters) - Spanish conglomerate Ferrovial said on Tuesday its revenues rose 6.3% to 2.97 billion euros ($3.51 billion) in the first half of the year, buoyed by construction and toll road business amid a recovery in traffic despite the pandemic.

Ferrovial, which also operates airports and services units, expects its performance to keep improving during the second half of the year as pandemic restrictions ease, Chief Financial Officer Ernesto Lopez said in an online presentation.

Ferrovial said earlier it would sell its waste management business in Spain and Portugal to Germany's PreZero International in a deal valuing the division at 1.13 billion euros.

Ferrovial said it would continue to evaluate selling other non-strategic assets.

The infrastructure group reported 251 million euros in core earnings (EBITDA) for the first half, up 89% from the same period last year when the pandemic took hold and many borders were closed.

The first-half figures were affected by continued restrictions on air traffic and travel more generally in the United Kingdom, where Ferrovial operates London Heathrow airport.

Between January and June, the company booked a net loss of 177 million euros, roughly halving the 384 million euros in losses for the same period of 2020.

($1 = 0.8450 euros) (Reporte de Corina Pons Editing by Clara-Laeila Laudette and Mark Potter)

ę Reuters 2021
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Analyst Recommendations on FERROVIAL, S.A.
More recommendations
Sales 2021 6 387 M 7 490 M 7 490 M
Net income 2021 -24,4 M -28,6 M -28,6 M
Net Debt 2021 2 606 M 3 056 M 3 056 M
P/E ratio 2021 -296x
Yield 2021 2,29%
Capitalization 18 576 M 21 806 M 21 784 M
EV / Sales 2021 3,32x
EV / Sales 2022 3,23x
Nbr of Employees 19 361
Free-Float 62,8%
Duration : Period :
Ferrovial, S.A. Technical Analysis Chart | MarketScreener
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Technical analysis trends FERROVIAL, S.A.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 25,29 €
Average target price 26,36 €
Spread / Average Target 4,23%
EPS Revisions
Managers and Directors
Ignacio Madridejos Fernßndez Chief Executive Officer & Director
Ernesto Lˇpez Mozo Chief Financial Officer
Rafael del Pino y Calvo-Sotelo Executive Chairman
Dimitris Bountolos Chief Information & Innovation Officer
JosÚ Fernando Sßnchez-Junco Mans Independent Director