Ferrovial UK posts strong profit growth

Adebayo Sobitan, Section Engineer at Ferrovial Construction (UK) working at Heathrow Airport

The Spanish entrepreneur saw his UK turnover increase by 19% during the year to 31st December, reaching £456m from £381m in 2020 and £345m before Covid 2019.

Operating profit rose from £1.0m in 2020 to £5.6m in 2021 and profit before tax rose from £1.5m to £5.4m.

Ferrovial Agroman (UK) – as it was then – had recorded pre-tax losses in 2018 and 2019 of £11m and £31m respectively, so the 2021 results mark a resurgence for the company.

The company said its 2021 results “demonstrate that the company’s financial position is getting better and better.” The net cash balance increased from £158m to £195m during the year. The order book is stable at £1bn.

More than half of Ferrovial Construction (UK) revenue comes from the rail sector, bringing in £245m in 2021; £91m came from the water sector and around £45m each from airports and highways £45m.

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The publication of the results of its construction activity in the United Kingdom follows the recent announcement that the global activity increased its turnover by 5.4% at constant scope to reach 6,778 million euros ( £5.7 billion) in 2021 thanks to contributions from its Cintra toll road business. as well as building.

Managing Director of Ferrovial Construction (UK), Karl Goose, said: “It’s great to see the result of the team’s hard work, confirming that we are continuing to move in the right direction despite the challenges of the pandemic. The role of infrastructure in the UK’s economic recovery is clear and we are working to contribute to this in a sustainable way now and over the long term to support our customers, the supply chain and the communities where we work.

“Our growing and diverse team remains at the heart of our business and we will continue to prioritize their development, career progression, and health and well-being. Our community of young talent will form 25% of our employee base by the end of 2022, with 62% of this year’s graduates coming from a Black or Asian background.

“Our focus for the coming year will be to continue to deliver innovation and excellent delivery to our customers and to the industry, ensuring that we meet our carbon reduction targets as endorsed by the Science initiative. -Based Targets as we work with industry to achieve carbon neutral construction.”

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