Construction

Construction

International presence

All objectives were met, both in revenues and EBITDA, the backlog has grown and all construction divisions showed a profit. In the process of internationalisation of the construction division, it is significant that 40% of the backlog represents projects to be carried out outside Spain, along with the revenues to be earned.

In spite of the current weakness of the Spanish market, the outlook for this business in 2008 is good because of this diversification in international projects. A significant improvement is expected in Budimex in margins and RBE, following the trend that began in 2007.

The construction activity increased its revenues by 1.1%, and 1.3% its EBITDA with a record backlog of 9.13 billion euro, which represents 21 months' revenues. All international activities represent 31% of the Construction business revenues.

Ferrovial Agromán

It is the flagship company of the Group's construction division, carrying out this activity in all areas of civil engineering, building and industrial projects. In civil engineering, the company designs and builds roads, railways, hydraulic works, maritime works, infrastructure, hydroelectric and industrial works. In 2007, revenues rose to 5,202.1 million euro, with a backlog of 9.13 billion euro.

Cadagua

Water and waste treatment plant engineering and construction company, the Spanish market leader with recognised international prestige in sea water desalination plants. In 2007, the company had 130.4 million euro in revenues and a backlog of 693.8 million euro.

Budimex

Poland's largest construction company in terms of business volume and market capitalisation and a Ferrovial subsidiary since 2000. The company is involved in all types of civil engineering, building and industrial projects. In 2007, it made a profit with an increase of 5.7% in revenues (833.7 million euro) and a backlog of 915 million euro.

Webber

It is one of the three largest construction groups in Texas (United States), specialising in construction of civil engineering infrastructure and the leader in aggregate recycling production and distribution. Acquired by Ferrovial in September 2005, the company began to show a profit in 2007, in spite of the negative  impact of the exchange rate, with revenues of 311.5 million and a backlog of 566 million euro.

Construction division in 2007

Construction division in 2007

Manuel Ruiz de Gopegui, CEO of Ferrovial Agromán, talks through the highlights of 2007 in the construction division.