Ferrovial reports FY2009 financial results

In comparison with 2008, the 2009 accounting results were affected at the Revenue (-8.0%) and EBITDA (-0.2%) levels by exchange-rate movements (euro appreciation vs. sterling 11% and the zloty 24%). Pro-forma revenues fell 2.1%, EBITDA growth reached 8.9% and EBIT growth 10.4%, with the latter restricted by the sharp increase in depreciation (+7.2%), principally due to the start of operations at Heathrow Terminal 5. Both the EBITDA and EBIT margins improved at the consolidated level, reflecting the positive performance at the Airports and Toll Roads divisions.