MADRID (Reuters) -Spanish construction giant Ferrovial reported on late on Tuesday a rise of 30% in first-half profit as its toll road business in the United States and Canada continued to deliver
Ferrovial Reports 30% Profit Increase Driven by U.S. Toll Roads
MADRID (Reuters) -Spanish construction giant Ferrovial reported on late on Tuesday a rise of 30% in first-half profit as its toll road business in the United States and Canada continued to deliver strong revenues.
Net income soared to 540 million euros ($623.92 million), up from 414 million euros during the same period a year ago.
The Spanish company's revenue increased 5% in the first half of the year partly due to a "strong performance across its North American assets", Ferrovial's Chief Executive, Ignacio Madridejos, said in a statement.
Ferrovial's first-half revenue from its highways division rose 15%, thanks to the strong performance and higher traffic on its U.S. express lanes and Canada's 407 highway.
Ferrovial had reported a higher freight traffic on toll roads in the United States in the first months of the year, reflecting an uptick in commercial activity at ports and roadways while the U.S. President Donald Trump's administration discusses new tariffs.
The company, which builds and manages motorways and airports concessions, said its construction division achieved a 3.5% adjusted EBIT margin. It added North America accounted for 45% of its 17.3 billion euros order book.
Ferrovial is building a new terminal at New York's John F. Kennedy International Airport, due to be completed by 2027 and it is focusing on bidding for express-lane projects in the U.S.
($1 = 0.8655 euros)
(Reporting by Corina Pons, editing by Inti Landauro)
