Ferrovial reports huge net profit as airports division shrinks; BAA confident for 2011

BAA and its consortium parent Ferrovial have issued their year-end financial statements for 2010. In the case of the Spanish company revenues, EBIT and EBITDA all fell slightly in the airports division but an EBITDA margin of around 45% was achieved. [2461 words]

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This report contains the following subheadings:

• Downsizing exposure to airports
• Swissport sold
• BAA narrows its losses
• Lower gearing
• Recovery, what recovery?
• Clutching at straws over order to sell
• All change
• On the railroad to nowhere

This report contains the following charts and tables:

• Table 1: Ferrovial consolidated financial highlights for the 12 months ended Dec-2010
• Table 2: BAA financial highlights for the 12 months ended Dec-2010