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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 1/05/24 Ferrovial SE 20FR12B 6:61M Toppan Merrill/FA |
Document/Exhibit Description Pages Size 1: 20FR12B Registration Statement by a Foreign Non-Canadian HTML 10.91M Issuer 2: EX-1.1 Underwriting Agreement or Conflict Minerals Report HTML 158K 3: EX-4.1 Instrument Defining the Rights of Security Holders HTML 104K 4: EX-4.2 Instrument Defining the Rights of Security Holders HTML 294K 5: EX-8.1 Opinion of Counsel re: Tax Matters HTML 60K 6: EX-15.1 Letter re: Unaudited Interim Financial Info HTML 5K
tm2326351-11_20fr12b - none - 87.0104735s |
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Ordinary shares, par value EUR 0.01 per share
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FER
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Nasdaq Global Select Market
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| ☐ Large accelerated filer | | | ☐ Accelerated filer | | | ☒ Non-accelerated filer | | | ☐ Emerging growth company | |
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☐ U.S. GAAP
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☒ International Financial Reporting Standards as issued by the International Accounting Standards Board
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| | ☐ Other | |
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| | | | F-1 | | |
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As of June 30, 2023
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(in millions of euros)
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Cash and cash equivalents
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| | | | 4,685 | | |
Total long-term debt
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| | | | 10,436 | | |
Guaranteed
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| | | | — | | |
Secured(1)
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| | | | 7,546 | | |
Unguaranteed/unsecured(2)
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| | | | 2,890 | | |
Total short-term debt
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| | | | 852 | | |
Guaranteed
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| | | | — | | |
Secured(1)
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| | | | 52 | | |
Unguaranteed/unsecured(2)
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| | | | 800 | | |
Equity | | | | | | | |
Share capital
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| | | | 7 | | |
Share premium
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| | | | 4,348 | | |
Retained earnings and other reserves
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| | | | 317 | | |
Total equity
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| | | | 5,856 | | |
Total capitalization
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| | | | 21,829 | | |
Date
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Event
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Description
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2009 | | | Reverse merger | | |
In 2009, Grupo Ferrovial, S.A. underwent a merger with Cintra Concesiones, a subsidiary listed on the Spanish Stock Exchange. The merger was structured as a “reverse” merger (fusión inversa) where the subsidiary, Cintra Concesiones, increased its capital to absorb the parent, Grupo Ferrovial, S.A. Following the merger, Cintra Concesiones remained listed on the Spanish Stock Exchanges and became the parent of the Group, at that moment comprising Ferrovial and its subsidiaries, and changed its corporate name to Ferrovial, S.A. As a consequence of this merger, the minority shareholders of Cintra Concesiones became shareholders of Ferrovial.
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2019 | | | Corporate reorganization | | |
In 2019, the Group completed the implementation of a reorganization of its corporate structure. This corporate reorganization was aimed at splitting the Group’s national and international activities to benefit from the cross-capabilities of the different businesses in each country and with respect to each client. Through the reorganization, the Group’s non-Spanish businesses were consolidated into one subgroup of companies, headed by the Company.
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2020 | | | Corporate reorganization | | |
In 2020, as a result of the approval and start of the implementation of the Horizon 24 Strategic Plan, the Group embarked on additional projects in mobility and electrification and transmission.
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2023 | | | The Merger | | |
On June 16, 2023, we completed: (i) our re-domiciliation from Spain to the Netherlands through the Merger and (ii) the admission to listing and trading of our ordinary shares on Euronext Amsterdam. Our ordinary shares began trading on Euronext Amsterdam and the Spanish Stock Exchanges on June 16, 2023.
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Business Division
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Group Companies
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Description
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Toll Roads
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Cintra Infraestructuras España, S.L.U., Cintra Infrastructures SE, Cintra Global SE, Cintra Holding US Corp and subsidiaries.
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Development, financing, and operation of toll road infrastructure.
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Airports
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Ferrovial Airports International, S.E., Ferrovial Airports Holding US Corp. and subsidiaries.
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Development, financing, and operation of airports and vertipots.
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Construction
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Ferrovial Construcción, S.A., Ferrovial Construction International S.E., Budimex, S.A., Ferrovial Construction US Corp., Webber, LLC and subsidiaries.
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Development, financing, and operation of construction activities, including the design and construction of all types of public and private works and, most notably, the construction of public infrastructures.
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Energy Infrastructure and Mobility
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Ferrovial Infraestructuras Energéticas S.A.U., Ferrovial Mobility S.L.U., Ferrovial 004, S.A., Ferrovial Transco International B.V., Ferrovial Services International SE, Thalia Waste Treatment B.V. and subsidiaries.
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Development of energy transmission and renewable energy infrastructure; also includes the Mobility business and the outstanding (non-divested) Services business activities.
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For the year ended December 31, 2022
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Toll Road
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Country
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Ownership
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Fully consolidated assets | | | | | | | |
NTE 1-2
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| | U.S. | | |
63.0%
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LBJ
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| | U.S. | | |
54.6%
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NTE 35W
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| | U.S. | | |
53.7%
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I-77
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| | U.S. | | |
72.2%
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I-66
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| | U.S. | | |
55.7%
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Autema
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| | Spain | | |
76.3%
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Aravia(1) | | | Spain | | |
100.0%
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Azores(2) | | | Portugal | | |
89.2%
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Via Livre
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| | Portugal | | |
84.0%
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Equity-accounted assets | | | | | | | |
407 ETR
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| | Canada | | |
43.2%
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IRB
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| | India | | |
24.9%
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M4
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| | Ireland | | |
20.0%
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M3
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| | Ireland | | |
20.0%
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A-66 Benavente Zamora
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| | Spain | | |
25.0%
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Serrano Park
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| | Spain | | |
50.0%
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EMESA(3) and Calle 30(4)
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| | Spain | | |
50.0% / 20.0%
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Toowoomba
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| | Australia | | |
40.0%
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OSARs
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| | Australia | | |
50.0%
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Zero ByPass (Bratislava)
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| | Slovakia | | |
35.0%
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Toll Road
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Country
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For the year ended December 31,
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| | | | | | | |
2021
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2020
|
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(in millions of transactions)
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Fully consolidated assets
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| | | | | | | | | | | | | | | | | | | | | |
NTE 1-2
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| | US | | | | | 36 | | | | | | 33 | | | | | | 25 | | |
LBJ
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| | US | | | | | 40 | | | | | | 37 | | | | | | 30 | | |
NTE 35W
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| | US | | | | | 35 | | | | | | 35 | | | | | | 28 | | |
I-77
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| | US | | | | | 35 | | | | | | 29 | | | | | | 20 | | |
Equity-accounted assets | | | | | | | | | | | | | | | | | | | | | | |
407 ETR (*)
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| | Canada | | | | | 2,213 | | | | | | 1,696 | | | | | | 1,500 | | |
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Company
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Country of Incorporation
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Percentage Ownership and
Voting Interest |
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Main Activities
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| Ferrovial Construcción, S.A. (through Spanish branch) | | | Spain | | |
100.0%
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One of the two head entities of the Construction Business Division (Spain)
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| Ferrovial Construction International SE (direct) | | | The Netherlands | | |
100.0%
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One of the two head entities of the Construction Business Division (excluding Spain and the U.S. construction business, for which Ferrovial Construction US Holding Corp. is the parent company)
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| Ferrovial Airports International SE (direct) | | | The Netherlands | | |
100.0%
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One of the two head entities of the Airports Business Division (excluding Spain and except U.S. airports business for which Ferrovial Airports Holding US Corp. is the parent company)
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| Cintra Infraestructuras España, S.L.U. (through Spanish branch) | | | Spain | | |
100.0%
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One of the three head entities of the Toll Roads Business Division (Spain)
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| Cintra Global SE (direct) | | | The Netherlands | | |
100.0%
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One of the three head entities of the Toll Roads Business Division (excluding Spain)
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| Cintra Infrastructures SE (direct) | | | The Netherlands | | |
100.0%
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One of the three head entities of the Toll Roads Business Division (excluding Spain). It indirectly holds the various subsidiaries and affiliates responsible for the U.S. businesses across all Business Divisions
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| Ferrovial Infraestructuras Energéticas S.A.U. (through Spanish branch) | | | Spain | | |
100.0%
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Head entity of the Spanish energy infrastructure subdivision of the Energy Infrastructure and Mobility Business Division
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| 407 International Inc (equity-accounted) | | | Canada | | |
43.2%
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Management of 407 ETR concession
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| IRB Infrastructure Developers Limited (equity-accounted) | | | India | | |
24.9%
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Management of network of toll roads in India
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| FGP Topco Limited (equity-accounted) | | | England and Wales | | |
25.0%
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Management of Heathrow concession
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For the six months ended June 30,
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For the year ended December 31,
|
| ||||||||||||||||||||||||
Airports
|
| |
2023
|
| |
2022
|
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2022
|
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2021
|
| |
2020
|
| |||||||||||||||
| | |
(in million passengers)(1)
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Heathrow
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| | | | 37.1 | | | | | | 26.1 | | | | | | 61.6 | | | | | | 19.4 | | | | | | 22.1 | | |
Aberdeen, Glasgow and Southampton
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| | | | 4.9 | | | | | | 4.0 | | | | | | 9.2 | | | | | | 3.5 | | | | | | 3.3 | | |
Dalaman
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| | | | 1.8 | | | | | | 1.5 | | | | | | 4.5 | | | | | | 2.3 | | | | | | 1.6 | | |
Passenger trends(1)
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| |
Q1-22
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Q2-22
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Q3-22
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Q4-22
|
| |
2022(2)
|
| ||||||||||||||||||||
Heathrow
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| | | | (46) | % | | | | | | (21) | % | | | | | | (18) | % | | | | | | (13) | % | | | | | | (24) | % | | |
Aberdeen
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| | | | (45) | % | | | | | | (30) | % | | | | | | (30) | % | | | | | | (24) | % | | | | | | (32) | % | | |
Glasgow
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| | | | (45) | % | | | | | | (24) | % | | | | | | (12) | % | | | | | | (18) | % | | | | | | (26) | % | | |
Southampton
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| | | | (76) | % | | | | | | (70) | % | | | | | | (61) | % | | | | | | (56) | % | | | | | | (65) | % | | |
TOTAL AGS
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| | | | (49) | % | | | | | | (31) | % | | | | | | (29) | % | | | | | | (25) | % | | | | | | (33) | % | | |
Dalaman
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| | | | (16) | % | | | | | | (15) | % | | | | | | (7) | % | | | | | | 12 | % | | | | | | (8) | % | | |
Traffic trends(1)
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| |
Q1-22
|
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Q2-22
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| |
Q3-22
|
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Q4-22
|
| |
2022
|
| ||||||||||||||||||||
407 ETR
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| | | | (34) | % | | | | | | (19) | % | | | | | | (12) | % | | | | | | (15) | % | | | | | | (19) | % | | |
NTE
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| | | | (1) | % | | | | | | 9 | % | | | | | | 9 | % | | | | | | 11 | % | | | | | | 7 | % | | |
LBJ
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| | | | (20) | % | | | | | | (12) | % | | | | | | (19) | % | | | | | | (19) | % | | | | | | (18) | % | | |
NTE 35W
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| | | | 9 | % | | | | | | 11 | % | | | | | | 2 | % | | | | | | 4 | % | | | | | | 6 | % | | |
Traffic trends (*)
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| |
Q1-22
|
| |
Q2-22
|
| |
Q3-22
|
| |
Q4-22
|
| |
2022
|
| |||||||||||||||
407 ETR
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| | | | 46% | | | | | | 66% | | | | | | 18% | | | | | | 14% | | | | | | 30% | | |
NTE
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| | | | 21% | | | | | | 10% | | | | | | 5% | | | | | | 5% | | | | | | 9% | | |
LBJ
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| | | | 21% | | | | | | 8% | | | | | | 2% | | | | | | 2% | | | | | | 7% | | |
NTE 35W
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| | | | 10% | | | | | | (5)% | | | | | | (8)% | | | | | | (3)% | | | | | | (2)% | | |
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For the six months ended June 30,
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| | | | |
2022
|
| |
% Variation
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(in millions of euros)
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Revenues
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| | | | 3,940 | | | | | | 3,534 | | | | | | 11.5% | | |
Other operating income
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| | | | 1 | | | | | | 1 | | | | | | — | | |
Revenues and other operating income
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| | | | 3,941 | | | | | | 3,535 | | | | | | 11.5% | | |
Materials consumed
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| | | | 497 | | | | | | 581 | | | | | | (14.5)% | | |
Other operating expenses
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| | | | 2,265 | | | | | | 1,925 | | | | | | 17.7% | | |
Personnel expenses
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| | | | 778 | | | | | | 716 | | | | | | 8.7% | | |
Total operating expenses
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| | | | 3,540 | | | | | | 3,222 | | | | | | 9.9% | | |
Fixed asset depreciation
|
| | | | 201 | | | | | | 143 | | | | | | 40.6% | | |
Impairment and disposal of fixed assets
|
| | | | 0 | | | | | | 0 | | | | | | — | | |
Operating profit/(loss)
|
| | | | 200 | | | | | | 170 | | | | | | 17.5% | | |
Net financial income/(expense) from financing
|
| | | | (153) | | | | | | (109) | | | | | | 40.4% | | |
Profit/(loss) on derivatives and other net financial income/(expense)
|
| | | | (12) | | | | | | (66) | | | | | | (81.8)% | | |
Net financial income/(expense) from infrastructure projects
|
| | | | (165) | | | | | | (175) | | | | | | (5.7)% | | |
Net financial income/(expense) from financing
|
| | | | 50 | | | | |
|
11
|
| | | | | 354.5% | | |
Profit/(loss) on derivatives and other net financial income/(expense)
|
| | | | 15 | | | | | | 46 | | | | | | (67.4)% | | |
Net financial income/(expense) from ex-infrastructure projects
|
| | | | 65 | | | | | | 57 | | | | | | 14.0% | | |
Net financial income/(expense)
|
| | | | (100) | | | | | | (118) | | | | | | (15.2)% | | |
Share of profits of equity-accounted companies
|
| | | | 83 | | | | | | 55 | | | | | | 50.9% | | |
Profit/(loss) before tax from continuing operations
|
| | | | 183 | | | | | | 107 | | | | | | 71.0% | | |
Income tax / (expense)
|
| | | | (20) | | | | | | (21) | | | | | | (4.8)% | | |
Profit/(loss) net of tax from continuing operations
|
| | | | 163 | | | | | | 86 | | | | | | 89.5% | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 6 | | | | | | (5) | | | | | | 220.0% | | |
Net profit/(loss)
|
| | | | 169 | | | | | | 81 | | | | | | 108.6% | | |
Net profit/(loss) for the period attributed to non-controlling interests
|
| | | | (54) | | | | | | (28) | | | | | | 92.9% | | |
Net profit/(loss) for the period attributed to the parent company
|
| | | | 115 | | | | | | 53 | | | | | | 117.0% | | |
| | |
For the six months ended June 30,
|
| |||||||||||||||||||||
| | | | |
2022
|
| |
% Variation
|
| |
%LfL(1)
|
| |||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||
Toll Roads
|
| | | | 492 | | | | | | 355 | | | | | | 38.7% | | | | | | 38.0% | | |
Airports
|
| | | | 28 | | | | | | 7 | | | | | | — | | | | | | (37.8)% | | |
Construction
|
| | | | 3,258 | | | | | | 3,053 | | | | | | 6.7% | | | | | | 6.8% | | |
Energy Infrastructure and Mobility
|
| | | | 175 | | | | | | 139 | | | | | | 25.9% | | | | | | 25.4% | | |
Others(2) | | | | | (13) | | | | | | (20) | | | | | | 35.0% | | | | | | 33.5% | | |
Total | | | | | 3,940 | | | | | | 3,534 | | | | | | 11.5% | | | | | | 10.9% | | |
| | |
For the year ended December 31,
|
| ||||||||||||||||||
| | | | |
2021
|
| |
% Variation
|
| |||||||||||||
| | |
(in millions of euros)
|
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Revenues
|
| | | | 7,551 | | | | | | | 6,910 | | | | | | | 9.3 | % | | |
Other operating income
|
| | | | 2 | | | | | | | 1 | | | | | | | 100.0 | % | | |
Revenues and other operating income
|
| | | | 7,553 | | | | | | | 6,911 | | | | | | | 9.3 | % | | |
Materials consumed
|
| | | | 1,197 | | | | | | | 1,085 | | | | | | | 10.3 | % | | |
Other operating expenses
|
| | | | 4,182 | | | | | | | 3,923 | | | | | | | 6.6 | % | | |
Personnel expenses
|
| | | | 1,446 | | | | | | | 1,293 | | | | | | | 11.8 | % | | |
Total operating expenses
|
| | | | 6,825 | | | | | | | 6,301 | | | | | | | 8.3 | % | | |
Fixed asset depreciation
|
| | | | 299 | | | | | | | 270 | | | | | | | 10.7 | % | | |
Impairment and disposal of fixed assets
|
| | | | (6) | | | | | | | 1,139 | | | | | | | (100.5) | % | | |
Operating profit/(loss)
|
| | | | 423 | | | | | | | 1,479 | | | | | | | (71.4) | % | | |
Net financial income/(expense) from financing
|
| | | | (243) | | | | | | | (220) | | | | | | | 10.4 | % | | |
Profit/(loss) on derivatives and other net financial income/(expense)
|
| | | | (122) | | | | | | | (87) | | | | | | | 40.2 | % | | |
Net financial income/(expense) from infrastructure projects
|
| | | | (365) | | | | | | | (307) | | | | | | | 18.9 | % | | |
Net financial income/(expense) from financing
|
| | | | 1 | | | | | | | (27) | | | | | | | 103.7 | % | | |
Profit/(loss) on derivatives and other net financial income/(expense)
|
| | | | 47 | | | | | | | 2 | | | | | | | n.a. | | | |
Net financial income/(expense) from ex-infrastructure projects
|
| | | | 48 | | | | | | | (25) | | | | | | | 292.0 | % | | |
Net financial income/(expense)
|
| | | | (317) | | | | | | | (332) | | | | | | | (4.5) | % | | |
Share of profits of equity-accounted companies
|
| | | | 165 | | | | | | | (178) | | | | | | | 192.7 | % | | |
Profit/(loss) before tax from continuing operations
|
| | | | 271 | | | | | | | 969 | | | | | | | (72.0) | % | | |
Income tax / (expense)
|
| | | | (30) | | | | | | | 9 | | | | | | | (433.3) | % | | |
Profit/(loss) net of tax from continuing operations
|
| | | | 241 | | | | | | | 978 | | | | | | | (75.4) | % | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 64 | | | | | | | 361 | | | | | | | (82.3) | % | | |
Net profit/(loss)
|
| | | | 305 | | | | | | | 1,339 | | | | | | | (77.2) | % | | |
Net profit/(loss) for the year attributed to non-controlling interests
|
| | | | (117) | | | | | | | (138) | | | | | | | (15.2) | % | | |
Net profit/(loss) for the year attributed to the parent company
|
| | | | 188 | | | | | | | 1,201 | | | | | | | (84.3) | % | | |
| | |
For the year ended December 31,
|
| |||||||||||||||||||||
| | | | |
2021
|
| |
%
Variation |
| |
%LfL(1)
|
| |||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||
Toll Roads
|
| | | | 780 | | | | | | 588 | | | | | | 32.6% | | | | | | 21.8% | | |
Airports
|
| | | | 54 | | | | | | 2 | | | | | | — | | | | | | — | | |
Construction
|
| | | | 6,463 | | | | | | 6,077 | | | | | | 6.3% | | | | | | 2.4% | | |
Energy Infrastructure and Mobility
|
| | | | 296 | | | | | | 252 | | | | | | 17.5% | | | | | | 18.0% | | |
Others(2) | | | | | 178 | | | | | | 157 | | | | | | 13.4% | | | | | | 13.9% | | |
Adjustments(3) | | | | | (220) | | | | | | (166) | | | | | | 32.5% | | | | | | — | | |
Total | | | | | 7,551 | | | | | | 6,910 | | | | | | 9.3% | | | | | | 4.3% | | |
| | |
For the year ended December 31,
|
| |||||||||||||||
| | | | |
2020
|
| |
% Variation
|
| ||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||
Revenues
|
| | | | 6,910 | | | | | | 6,641 | | | | | | 4.0% | | |
Other operating income
|
| | | | 1 | | | | | | 3 | | | | | | (66.7)% | | |
Revenues and other operating income
|
| | | | 6,911 | | | | | | 6,644 | | | | | | 4.0% | | |
Materials consumed
|
| | | | 1,085 | | | | | | 1,000 | | | | | | 8.5% | | |
Other operating expenses
|
| | | | 3,923 | | | | | | 3,950 | | | | | | (0.7)% | | |
Personnel expenses
|
| | | | 1,293 | | | | | | 1,282 | | | | | | 0.9% | | |
Total operating expenses
|
| | | | 6,301 | | | | | | 6,232 | | | | | | 1.1% | | |
Fixed asset depreciation
|
| | | | 270 | | | | | | 240 | | | | | | 12.5% | | |
Impairment and disposal of fixed assets
|
| | | | 1,139 | | | | | | (9) | | | | | | 12,755.5% | | |
Operating profit/(loss)
|
| | | | 1,479 | | | | | | 163 | | | | | | 807.4% | | |
Net financial income/(expense) from financing
|
| | | | (220) | | | | | | (244) | | | | | | (9.8)% | | |
Profit/(loss) on derivatives and other net financial income/(expense)
|
| | | | (87) | | | | | | 37 | | | | | | (335.1)% | | |
Net financial income/(expense) from infrastructure
projects |
| | | | (307) | | | | | | (207) | | | | | | 48.3% | | |
Net financial income/(expense) from financing
|
| | | | (27) | | | | | | (9) | | | | | | 200.0% | | |
Profit/(loss) on derivatives and other net financial income/(expense)
|
| | | | 2 | | | | | | (31) | | | | | | 106.5% | | |
Net financial income/(expense) from ex-infrastructure projects
|
| | | | (25) | | | | | | (40) | | | | | | (37.5)% | | |
Net financial income/(expense)
|
| | | | (332) | | | | | | (247) | | | | | | 34.4% | | |
Share of profits of equity-accounted companies
|
| | | | (178) | | | | | | (373) | | | | | | (52.3)% | | |
Profit/(loss) before tax from continuing operations
|
| | | | 969 | | | | | | (457) | | | | | | 312.0% | | |
Income tax / (expense)
|
| | | | 9 | | | | | | 35 | | | | | | (74.3)% | | |
Profit/(loss) net of tax from continuing operations
|
| | | | 978 | | | | | | (422) | | | | | | 331.8% | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 361 | | | | | | 45 | | | | | | 702.20% | | |
Net profit/(loss)
|
| | | | 1,339 | | | | | | (377) | | | | | | 455.2% | | |
Net profit/(loss) for the year attributed to non-controlling interests
|
| | | | (138) | | | | | | (51) | | | | | | 170.6% | | |
Net profit/(loss) for the year attributed to the parent company
|
| | | | 1,201 | | | | | | (428) | | | | | | 380.6% | | |
| | |
For the year ended December 31,
|
| |||||||||||||||||||||
| | | | |
2020
|
| |
% Variation
|
| |
%LfL(1)
|
| |||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||
Toll roads
|
| | | | 588 | | | | | | 439 | | | | | | 33.9% | | | | | | 36.8% | | |
Airports
|
| | | | 2 | | | | | | 1 | | | | | | 100.0% | | | | | | 74.9% | | |
Construction
|
| | | | 6,077 | | | | | | 5,984 | | | | | | 1.6% | | | | | | 3.0% | | |
Energy Infrastructure and Mobility*
|
| | | | 252 | | | | | | 217 | | | | | | 16.1% | | | | | | 15.8% | | |
Others(2) | | | | | 157 | | | | | | 128 | | | | | | 22.6% | | | | | | 22.4% | | |
Adjustments(3) | | | | | (166) | | | | | | (128) | | | | | | 29.7% | | | | | | — | | |
Total | | | | | 6,910 | | | | | | 6,641 | | | | | | 4.0% | | | | | | 5.5% | | |
Companies
|
| |
2021
|
| |
2020
|
| ||||||
| | |
(in million of euros)
|
| |||||||||
HAH
|
| | | | (238) | | | | | | (396) | | |
407 ETR
|
| | | | 52 | | | | | | 33 | | |
AGS
|
| | | | (20) | | | | | | (51) | | |
Other
|
| | | | 28 | | | | | | 41 | | |
Total | | | | | (178) | | | | | | (373) | | |
| | |
For the six months ended June 30, 2023
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll roads
|
| |
Airports
|
| |
Energy
Infrastructures and Mobility |
| |
Other(1)
|
| |
Adjustments(2)
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Revenues
|
| | | | 3,258 | | | | | | 492 | | | | | | 28 | | | | | | 175 | | | | | | 95 | | | | | | (108) | | | | | | 3,940 | | |
Total operating expenses
|
| | | | 3,197 | | | | | | 132 | | | | | | 30 | | | | | | 169 | | | | | | 120 | | | | | | (108) | | | | | | 3,540 | | |
Fixed asset depreciation
|
| | | | 66 | | | | | | 116 | | | | | | 6 | | | | | | 10 | | | | | | 3 | | | | | | — | | | | | | 201 | | |
Impairment and disposal of fixed assets
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Operating profit/(loss)
|
| | | | (4) | | | | | | 244 | | | | | | (8) | | | | | | (4) | | | | | | (28) | | | | | | — | | | | | | 200 | | |
Profit/(loss) on derivatives and other net financial income/(expense)
|
| | | | (17) | | | | | | (1) | | | | | | 7 | | | | | | 5 | | | | | | 9 | | | | | | — | | | | | | 3 | | |
Net financial income/(expense) from financing
|
| | | | 51 | | | | | | (108) | | | | | | 1 | | | | | | (3) | | | | | | (44) | | | | | | — | | | | | | (103) | | |
Net financial income/
(expense) |
| | | | 34 | | | | | | (109) | | | | | | 8 | | | | | | 2 | | | | | | (35) | | | | | | — | | | | | | (100) | | |
Share of profits of equity-accounted companies
|
| | | | 1 | | | | | | 74 | | | | | | 5 | | | | | | 3 | | | | | | — | | | | | | — | | | | | | 83 | | |
Profit/(loss) before tax from continuing operations
|
| | | | 31 | | | | | | 209 | | | | | | 5 | | | | | | 1 | | | | | | (63) | | | | | | — | | | | | | 183 | | |
Income tax / (expense)
|
| | | | (14) | | | | | | (4) | | | | | | — | | | | | | — | | | | | | (2) | | | | | | — | | | | | | (20) | | |
Profit/(loss) net of tax from continuing operations
|
| | | | 17 | | | | | | 205 | | | | | | 5 | | | | | | 1 | | | | | | (65) | | | | | | — | | | | | | 163 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6 | | | | | | — | | | | | | 6 | | |
Net profit/(loss)
|
| | | | 17 | | | | | | 205 | | | | | | 5 | | | | | | 1 | | | | | | (59) | | | | | | — | | | | | | 169 | | |
Net profit/(loss) for the period attributed to non-controlling interests
|
| | | | (4) | | | | | | (50) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (54) | | |
Net profit/(loss) for the period
attributed to the parent company |
| | | | 13 | | | | | | 155 | | | | | | 5 | | | | | | 1 | | | | | | (59) | | | | | | — | | | | | | 115 | | |
| | |
For the six months ended June 30, 2022
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll roads
|
| |
Airports
|
| |
Energy
Infrastructures and Mobility |
| |
Other(1)
|
| |
Adjustments(2)
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Revenues
|
| | | | 3,053 | | | | | | 355 | | | | | | 7 | | | | | | 139 | | | | | | 84 | | | | | | (104) | | | | | | 3,534 | | |
Total operating expenses
|
| | | | 2,976 | | | | | | 99 | | | | | | 26 | | | | | | 135 | | | | | | 89 | | | | | | (103) | | | | | | 3,222 | | |
Fixed asset depreciation
|
| | | | 52 | | | | | | 82 | | | | | | — | | | | | | 6 | | | | | | 3 | | | | | | — | | | | | | 143 | | |
Impairment and disposal of fixed assets
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Operating profit/(loss)
|
| | | | 26 | | | | | | 174 | | | | | | (19) | | | | | | (1) | | | | | | (9) | | | | | | (1) | | | | | | 170 | | |
Profit/(loss) on derivatives and other net financial income/(expense)
|
| | | | (13) | | | | | | (67) | | | | | | 5 | | | | | | 1 | | | | | | 55 | | | | | | (1) | | | | | | (20) | | |
Net financial income/(expense) from financing
|
| | | | 10 | | | | | | (96) | | | | | | — | | | | | | (4) | | | | | | (8) | | | | | | — | | | | | | (98) | | |
Net financial income/
(expense) |
| | | | (3) | | | | | | (163) | | | | | | 5 | | | | | | (3) | | | | | | 47 | | | | | | (1) | | | | | | (118) | | |
Share of profits of equity-accounted companies
|
| | | | — | | | | | | 50 | | | | | | 3 | | | | | | (1) | | | | | | — | | | | | | 3 | | | | | | 55 | | |
Profit/(loss) before tax from continuing operations
|
| | | | 23 | | | | | | 61 | | | | | | (11) | | | | | | (5) | | | | | | 38 | | | | | | 1 | | | | | | 107 | | |
Income tax / (expense)
|
| | | | (12) | | | | | | (15) | | | | | | (1) | | | | | | — | | | | | | 7 | | | | | | — | | | | | | (21) | | |
Profit/(loss) net of tax from continuing operations
|
| | | | 11 | | | | | | 46 | | | | | | (12) | | | | | | (5) | | | | | | 45 | | | | | | 1 | | | | | | 86 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (5) | | | | | | — | | | | | | (5) | | |
Net profit/(loss)
|
| | | | 11 | | | | | | 46 | | | | | | (12) | | | | | | (5) | | | | | | 40 | | | | | | 1 | | | | | | 81 | | |
Net profit/(loss) for the period attributed to non-controlling interests
|
| | | | (3) | | | | | | (25) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (28) | | |
Net profit/(loss) for the period
attributed to the parent company |
| | | | 8 | | | | | | 21 | | | | | | (12) | | | | | | (5) | | | | | | 40 | | | | | | 1 | | | | | | 53 | | |
| | |
For the year ended December 31, 2022
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll roads
|
| |
Airports
|
| |
Energy
Infrastructures and Mobility |
| |
Other(1)
|
| |
Adjustments(2)
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Revenues
|
| | | | 6,463 | | | | | | 780 | | | | | | 54 | | | | | | 296 | | | | | | 178 | | | | | | (220) | | | | | | 7,551 | | |
Total operating expenses
|
| | | | 6,289 | | | | | | 230 | | | | | | 56 | | | | | | 283 | | | | | | 189 | | | | | | (222) | | | | | | 6,825 | | |
Fixed asset depreciation
|
| | | | 113 | | | | | | 160 | | | | | | 7 | | | | | | 12 | | | | | | 7 | | | | | | — | | | | | | 299 | | |
Impairment and disposal of fixed assets
|
| | | | — | | | | | | (3) | | | | | | — | | | | | | (3) | | | | | | — | | | | | | — | | | | | | (6) | | |
Operating profit/(loss)
|
| | | | 63 | | | | | | 387 | | | | | | (9) | | | | | | (2) | | | | | | (16) | | | | | | — | | | | | | 423 | | |
Profit/(loss) on derivatives and other net financial income/(expense)
|
| | | | (34) | | | | | | (110) | | | | | | 19 | | | | | | 1 | | | | | | 51 | | | | | | (2) | | | | | | (75) | | |
Net financial income/(expense) from financing
|
| | | | 35 | | | | | | (240) | | | | | | — | | | | | | (9) | | | | | | (30) | | | | | | 2 | | | | | | (242) | | |
Net financial income/
(expense) |
| | | | 1 | | | | | | (350) | | | | | | 19 | | | | | | (8) | | | | | | 21 | | | | | | — | | | | | | (317) | | |
Share of profits of equity-accounted companies
|
| | | | 1 | | | | | | 158 | | | | | | 7 | | | | | | (1) | | | | | | — | | | | | | — | | | | | | 165 | | |
Profit/(loss) before tax from continuing operations
|
| | | | 65 | | | | | | 195 | | | | | | 17 | | | | | | (11) | | | | | | 5 | | | | | | — | | | | | | 271 | | |
Income tax / (expense)
|
| | | | (5) | | | | | | (39) | | | | | | 2 | | | | | | (4) | | | | | | 16 | | | | | | — | | | | | | (30) | | |
Profit/(loss) net of tax from continuing operations
|
| | | | 60 | | | | | | 156 | | | | | | 19 | | | | | | (15) | | | | | | 21 | | | | | | — | | | | | | 241 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 64 | | | | | | — | | | | | | 64 | | |
Net profit/(loss)
|
| | | | 60 | | | | | | 156 | | | | | | 19 | | | | | | (15) | | | | | | 85 | | | | | | — | | | | | | 305 | | |
Net profit/(loss) for the year attributed to non-controlling interests
|
| | | | (42) | | | | | | (65) | | | | | | (9) | | | | | | — | | | | | | — | | | | | | (1) | | | | | | (117) | | |
Net profit/(loss) for the year attributed to the parent company
|
| | | | 18 | | | | | | 91 | | | | | | 10 | | | | | | (15) | | | | | | 85 | | | | | | (1) | | | | | | 188 | | |
| | |
For the year ended December 31, 2021
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll roads
|
| |
Airports
|
| |
Energy
Infrastructures and Mobility |
| |
Other(1)
|
| |
Adjustments(2)
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Revenues
|
| | | | 6,077 | | | | | | 588 | | | | | | 2 | | | | | | 252 | | | | | | 157 | | | | | | (166) | | | | | | 6,910 | | |
Total operating expenses
|
| | | | 5,833 | | | | | | 173 | | | | | | 28 | | | | | | 264 | | | | | | 168 | | | | | | (165) | | | | | | 6,301 | | |
Fixed asset depreciation
|
| | | | 112 | | | | | | 141 | | | | | | — | | | | | | 12 | | | | | | 5 | | | | | | — | | | | | | 270 | | |
Impairment and disposal of fixed assets
|
| | | | 22 | | | | | | 1,117 | | | | | | — | | | | | | — | | | | | | 1 | | | | | | (1) | | | | | | 1,139 | | |
Operating profit/(loss)
|
| | | | 154 | | | | | | 1,392 | | | | | | (26) | | | | | | (24) | | | | | | (16) | | | | | | (1) | | | | | | 1,479 | | |
Profit/(loss) on derivatives and other net financial income/(expense)
|
| | | | (24) | | | | | | (86) | | | | | | (6) | | | | | | 4 | | | | | | 26 | | | | | | 1 | | | | | | (85) | | |
Net financial income/(expense) from financing
|
| | | | (6) | | | | | | (198) | | | | | | — | | | | | | (7) | | | | | | (36) | | | | | | — | | | | | | (247) | | |
Net financial income/
(expense) |
| | | | (30) | | | | | | (284) | | | | | | (6) | | | | | | (3) | | | | | | (10) | | | | | | 1 | | | | | | (332) | | |
Share of profits of equity-accounted companies
|
| | | | — | | | | | | 81 | | | | | | (254) | | | | | | (6) | | | | | | 1 | | | | | | — | | | | | | (178) | | |
| | |
For the year ended December 31, 2021
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll roads
|
| |
Airports
|
| |
Energy
Infrastructures and Mobility |
| |
Other(1)
|
| |
Adjustments(2)
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Profit/(loss) before tax from continuing operations
|
| | | | 124 | | | | | | 1,189 | | | | | | (286) | | | | | | (33) | | | | | | (25) | | | | | | — | | | | | | 969 | | |
Income tax / (expense)
|
| | | | (49) | | | | | | (71) | | | | | | 7 | | | | | | 5 | | | | | | 116 | | | | | | 1 | | | | | | 9 | | |
Profit/(loss) net of tax from continuing operations
|
| | | | 75 | | | | | | 1,118 | | | | | | (279) | | | | | | (28) | | | | | | 91 | | | | | | 1 | | | | | | 978 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 115 | | | | | | — | | | | | | — | | | | | | — | | | | | | 246 | | | | | | — | | | | | | 361 | | |
Net profit/(loss)
|
| | | | 190 | | | | | | 1,118 | | | | | | (279) | | | | | | (28) | | | | | | 337 | | | | | | 1 | | | | | | 1,339 | | |
Net profit/(loss) for the year attributed to non-controlling interests
|
| | | | (105) | | | | | | (29) | | | | | | — | | | | | | — | | | | | | (3) | | | | | | (1) | | | | | | (138) | | |
Net profit/(loss) for the year attributed to the parent company
|
| | | | 85 | | | | | | 1,089 | | | | | | (279) | | | | | | (28) | | | | | | 334 | | | | | | — | | | | | | 1,201 | | |
| | |
For the year ended December 31, 2020
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll
roads |
| |
Airports
|
| |
Energy
Infrastructures and Mobility |
| |
Other(1)
|
| |
Adjustments(2)
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Revenue
|
| | | | 5,984 | | | | | | 439 | | | | | | 1 | | | | | | 217 | | | | | | 128 | | | | | | (128) | | | | | | 6,641 | | |
Total operating expenses
|
| | | | 5,771 | | | | | | 159 | | | | | | 24 | | | | | | 227 | | | | | | 178 | | | | | | (127) | | | | | | 6,232 | | |
Fixed asset depreciation
|
| | | | 113 | | | | | | 109 | | | | | | 1 | | | | | | 11 | | | | | | 5 | | | | | | 1 | | | | | | 240 | | |
Impairment and disposal of fixed assets
|
| | | | 0 | | | | | | 9 | | | | | | 0 | | | | | | (18) | | | | | | 0 | | | | | | 0 | | | | | | (9) | | |
Operating profit/(loss)
|
| | | | 101 | | | | | | 180 | | | | | | (23) | | | | | | (40) | | | | | | (55) | | | | | | 0 | | | | | | 163 | | |
Profit/(loss) on derivatives and other net financial income/(expense)
|
| | | | (19) | | | | | | 45 | | | | | | (3) | | | | | | 0 | | | | | | (15) | | | | | | (2) | | | | | | 6 | | |
Net financial income/(expense) from financing
|
| | | | 1 | | | | | | (206) | | | | | | 0 | | | | | | (7) | | | | | | (43) | | | | | | 2 | | | | | | (253) | | |
Net financial income/(expense)
|
| | | | (18) | | | | | | (161) | | | | | | (3) | | | | | | (7) | | | | | | (58) | | | | | | 0 | | | | | | (247) | | |
Share of profits of equity-accounted companies
|
| | | | 1 | | | | | | 67 | | | | | | (439) | | | | | | (2) | | | | | | 0 | | | | | | 0 | | | | | | (373) | | |
Profit/(loss) before tax
|
| | | | 84 | | | | | | 86 | | | | | | (465) | | | | | | (49) | | | | | | (113) | | | | | | 0 | | | | | | (457) | | |
Income tax / (expense)
|
| | | | (29) | | | | | | (8) | | | | | | 7 | | | | | | 2 | | | | | | 63 | | | | | | 0 | | | | | | 35 | | |
Profit/(loss) net of tax from continuing operations
|
| | | | 55 | | | | | | 78 | | | | | | (458) | | | | | | (47) | | | | | | (50) | | | | | | 0 | | | | | | (422) | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 35 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 10 | | | | | | 0 | | | | | | 45 | | |
Net profit/(loss)
|
| | | | 90 | | | | | | 78 | | | | | | (458) | | | | | | (47) | | | | | | (40) | | | | | | 0 | | | | | | (377) | | |
Net profit/(loss) for the year attributed to non-controlling interests
|
| | | | (42) | | | | | | (7) | | | | | | 0 | | | | | | 1 | | | | | | (3) | | | | | | 0 | | | | | | (51) | | |
Net profit/(loss) for the year attributed to the parent
company |
| | | | 48 | | | | | | 71 | | | | | | (458) | | | | | | (46) | | | | | | (43) | | | | | | 0 | | | | | | (428) | | |
| | |
For the six months ended
June 30, |
| |
For the year ended
December 31, |
| ||||||||||||||||||||||||
| | | | |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| ||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||
U.S.
|
| | | | 1,344 | | | | | | 1,392 | | | | | | 2,906 | | | | | | 2,639 | | | | | | 2,558 | | |
Poland
|
| | | | 935 | | | | | | 860 | | | | | | 1,842 | | | | | | 1,735 | | | | | | 1,726 | | |
Spain
|
| | | | 749 | | | | | | 556 | | | | | | 1,154 | | | | | | 1,092 | | | | | | 981 | | |
UK
|
| | | | 369 | | | | | | 362 | | | | | | 708 | | | | | | 644 | | | | | | 524 | | |
Canada
|
| | | | 70 | | | | | | 48 | | | | | | 100 | | | | | | 80 | | | | | | 87 | | |
Other
|
| | | | 473 | | | | | | 316 | | | | | | 841 | | | | | | 721 | | | | | | 765 | | |
Total revenues
|
| | | | 3,940 | | | | | | 3,534 | | | | | | 7,551 | | | | | | 6,910 | | | | | | 6,641 | | |
| | |
For the six months ended
June 30, |
| |
For the year ended
December 31, |
| ||||||||||||||||||||||||
| | | | |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| ||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||
Net profit/(loss)
|
| | | | 169 | | | | | | 81 | | | | | | 305 | | | | | | 1,339 | | | | | | (377) | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | (6) | | | | | | 5 | | | | | | (64) | | | | | | (361) | | | | | | (45) | | |
Income tax/(expense)
|
| | | | 20 | | | | | | 21 | | | | | | 30 | | | | | | (9) | | | | | | (35) | | |
Share of profits of equity-accounted companies
|
| | | | (83) | | | | | | (55) | | | | | | (165) | | | | | | 178 | | | | | | 373 | | |
Net financial income/(expense)
|
| | | | 100 | | | | | | 118 | | | | | | 317 | | | | | | 332 | | | | | | 247 | | |
Impairment and disposal of fixed assets
|
| | | | 0 | | | | | | 0 | | | | | | 6 | | | | | | (1,139) | | | | | | 9 | | |
Adjusted EBIT
|
| | | | 200 | | | | | | 170 | | | | | | 429 | | | | | | 340 | | | | | | 172 | | |
| | |
For the six months ended June 30, 2023
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy
Infra. And Mobility |
| |
Other
|
| |
Adjustments
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Net profit/(loss)
|
| | | | 17 | | | | | | 205 | | | | | | 5 | | | | | | 1 | | | | | | (59) | | | | | | 0 | | | | | | 169 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | (6) | | | | | | 0 | | | | | | (6) | | |
Income tax/(expense)
|
| | | | 14 | | | | | | 4 | | | | | | 0 | | | | | | 0 | | | | | | 2 | | | | | | 2 | | | | | | 20 | | |
Share of profits of equity-accounted companies
|
| | | | (1) | | | | | | (74) | | | | | | (5) | | | | | | (3) | | | | | | 0 | | | | | | 0 | | | | | | (83) | | |
Net financial income/(expense)
|
| | | | (34) | | | | | | 109 | | | | | | (8) | | | | | | (2) | | | | | | 35 | | | | | | 0 | | | | | | 100 | | |
Impairment and disposal of
fixed assets |
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | |
Adjusted EBIT
|
| | | | (4) | | | | | | 244 | | | | | | (8) | | | | | | (4) | | | | | | (28) | | | | | | 0 | | | | | | 200 | | |
| | |
For the six months ended June 30, 2022
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy
Infra. And Mobility |
| |
Other
|
| |
Adjustments
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Net profit/(loss)
|
| | | | 11 | | | | | | 46 | | | | | | (12) | | | | | | (5) | | | | | | 40 | | | | | | 1 | | | | | | 81 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 5 | | | | | | 0 | | | | | | 5 | | |
Income tax/(expense)
|
| | | | 12 | | | | | | 15 | | | | | | 1 | | | | | | 0 | | | | | | (7) | | | | | | 0 | | | | | | 21 | | |
Share of profits of equity-accounted companies
|
| | | | 0 | | | | | | (50) | | | | | | (3) | | | | | | 1 | | | | | | 0 | | | | | | (3) | | | | | | (55) | | |
Net financial income/(expense)
|
| | | | 3 | | | | | | 163 | | | | | | (5) | | | | | | 3 | | | | | | (47) | | | | | | 1 | | | | | | 118 | | |
Impairment and disposal of fixed assets
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | |
Adjusted EBIT
|
| | | | 26 | | | | | | 174 | | | | | | (19) | | | | | | (1) | | | | | | (9) | | | | | | (1) | | | | | | 170 | | |
| | |
For the six months ended June 30,
|
| |||||||||||||||||||||
| | | | |
2022
|
| |
% Variation
|
| |
%LfL
|
| |||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||
Toll Roads
|
| | | | 244 | | | | | | 174 | | | | | | 40.2% | | | | | | 33.2% | | |
Airports
|
| | | | (8) | | | | | | (19) | | | | | | 57.9% | | | | | | 12.8% | | |
Construction
|
| | | | (4) | | | | | | 26 | | | | | | — | | | | | | — | | |
Energy Infrastructure and Mobility
|
| | | | (4) | | | | | | (1) | | | | | | — | | | | | | — | | |
Others(1) | | | | | (28) | | | | | | (10) | | | | | | (180.0)% | | | | | | (180.1)% | | |
Total | | | | | 200 | | | | | | 170 | | | | | | 17.6% | | | | | | 11.2% | | |
| | |
For the year ended December 31, 2022
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy
Infra. And Mobility |
| |
Other
|
| |
Adjustments
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Net profit/(loss)
|
| | | | 60 | | | | | | 156 | | | | | | 19 | | | | | | (15) | | | | | | 85 | | | | | | 0 | | | | | | 305 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | (64) | | | | | | 0 | | | | | | (64) | | |
Income tax/(expense)
|
| | | | 5 | | | | | | 39 | | | | | | (2) | | | | | | 4 | | | | | | (16) | | | | | | 0 | | | | | | 30 | | |
Share of profits of equity-accounted companies
|
| | | | (1) | | | | | | (158) | | | | | | (7) | | | | | | 1 | | | | | | 0 | | | | | | 0 | | | | | | (165) | | |
Net financial income/(expense)
|
| | | | (1) | | | | | | 350 | | | | | | (19) | | | | | | 8 | | | | | | (21) | | | | | | 0 | | | | | | 317 | | |
Impairment and disposal of fixed
assets |
| | | | 0 | | | | | | 3 | | | | | | 0 | | | | | | 3 | | | | | | 0 | | | | | | 0 | | | | | | 6 | | |
Adjusted EBIT
|
| | | | 63 | | | | | | 390 | | | | | | (9) | | | | | | 1 | | | | | | (16) | | | | | | 0 | | | | | | 429 | | |
| | |
For the year ended December 31, 2021
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy
Infra. And Mobility |
| |
Other
|
| |
Adjustments
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Net profit/(loss)
|
| | | | 190 | | | | | | 1,118 | | | | | | (279) | | | | | | (28) | | | | | | 337 | | | | | | 1 | | | | | | 1,339 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | (115) | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | (246) | | | | | | 0 | | | | | | (361) | | |
Income tax/(expense)
|
| | | | 49 | | | | | | 71 | | | | | | (7) | | | | | | (5) | | | | | | (116) | | | | | | (1) | | | | | | (9) | | |
Share of profits of equity-accounted companies
|
| | | | 0 | | | | | | (81) | | | | | | 254 | | | | | | 6 | | | | | | (1) | | | | | | 0 | | | | | | 178 | | |
Net financial income/(expense)
|
| | | | 30 | | | | | | 284 | | | | | | 6 | | | | | | 3 | | | | | | 10 | | | | | | (1) | | | | | | 332 | | |
Impairment and disposal of fixed
assets |
| | | | (22) | | | | | | (1,117) | | | | | | 0 | | | | | | 0 | | | | | | (1) | | | | | | 1 | | | | | | (1,139) | | |
Adjusted EBIT
|
| | | | 132 | | | | | | 275 | | | | | | (26) | | | | | | (24) | | | | | | (17) | | | | | | 0 | | | | | | 340 | | |
| | |
For the year ended December 31, 2020
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy
Infra. And Mobility |
| |
Other
|
| |
Adjustments
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Net profit/(loss)
|
| | | | 90 | | | | | | 78 | | | | | | (458) | | | | | | (47) | | | | | | (40) | | | | | | 0 | | | | | | (377) | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | (35) | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | (10) | | | | | | 0 | | | | | | (45) | | |
Income tax/(expense)
|
| | | | 29 | | | | | | 8 | | | | | | (7) | | | | | | (2) | | | | | | (63) | | | | | | 0 | | | | | | (35) | | |
Share of profits of equity-accounted companies
|
| | | | (1) | | | | | | (67) | | | | | | 439 | | | | | | 2 | | | | | | 0 | | | | | | 0 | | | | | | 373 | | |
Net financial income/(expense)
|
| | | | 18 | | | | | | 161 | | | | | | 3 | | | | | | 7 | | | | | | 58 | | | | | | 0 | | | | | | 247 | | |
Impairment and disposal of fixed assets
|
| | | | 0 | | | | | | (9) | | | | | | 0 | | | | | | 18 | | | | | | 0 | | | | | | 0 | | | | | | 9 | | |
Adjusted EBIT
|
| | | | 101 | | | | | | 171 | | | | | | (23) | | | | | | (22) | | | | | | (55) | | | | | | 0 | | | | | | 172 | | |
| | |
For the year ended December 31,
|
| |||||||||||||||||||||
| | | | |
2021
|
| |
% Variation
|
| |
%LfL
|
| |||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||
Toll Roads
|
| | | | 390 | | | | | | 275 | | | | | | 41.8% | | | | | | 25.4% | | |
Airports
|
| | | | (9) | | | | | | (26) | | | | | | 65.4% | | | | | | (38.7)% | | |
Construction
|
| | | | 63 | | | | | | 132 | | | | | | (52.5)% | | | | | | (50.2)% | | |
Energy Infrastructure and Mobility
|
| | | | 1 | | | | | | (24) | | | | | | 104.2% | | | | | | 102.2% | | |
Others(1) | | | | | (16) | | | | | | (17) | | | | | | 5.9% | | | | | | 31.6% | | |
Total | | | | | 429 | | | | | | 340 | | | | | | 26.2% | | | | | | 10.4% | | |
| | |
For the year ended December 31,
|
| |||||||||||||||||||||
| | | | |
2020
|
| |
% Variation
|
| |
%LfL
|
| |||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||
Toll Roads
|
| | | | 275 | | | | | | 171 | | | | | | 60.8% | | | | | | 60.9% | | |
Airports
|
| | | | (26) | | | | | | (23) | | | | | | (13.0)%. | | | | | | (14.6)% | | |
Construction
|
| | | | 132 | | | | | | 101 | | | | | | 30.7% | | | | | | 32.5% | | |
Energy Infrastructure and Mobility
|
| | | | (24) | | | | | | (22) | | | | | | (9.1)% | | | | | | (46.4)% | | |
Others(1) | | | | | (17) | | | | | | (55) | | | | | | 69.1% | | | | | | 49.0% | | |
Total | | | | | 340 | | | | | | 172 | | | | | | 97.7% | | | | | | 71.2% | | |
| | |
For the six months ended June 30,
|
| |
For the year ended December 31,
|
| ||||||||||||||||||||||||
| | | | |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| ||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||
Net profit/(loss)
|
| | | | 169 | | | | | | 81 | | | | | | 305 | | | | | | 1,339 | | | | | | (377) | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | (6) | | | | | | 5 | | | | | | (64) | | | | | | (361) | | | | | | (45) | | |
Income tax/(expense)
|
| | | | 20 | | | | | | 21 | | | | | | 30 | | | | | | (9) | | | | | | (35) | | |
Share of profits of equity-accounted companies
|
| | | | (83) | | | | | | (55) | | | | | | (165) | | | | | | 178 | | | | | | 373 | | |
Net financial income/(expense)
|
| | | | 100 | | | | | | 118 | | | | | | 317 | | | | | | 332 | | | | | | 247 | | |
Impairment and disposal of fixed assets
|
| | | | 0 | | | | | | 0 | | | | | | 6 | | | | | | (1,139) | | | | | | 9 | | |
Fixed asset depreciation
|
| | | | 201 | | | | | | 143 | | | | | | 299 | | | | | | 270 | | | | | | 240 | | |
Adjusted EBITDA
|
| | | | 401 | | | | | | 313 | | | | | | 728 | | | | | | 610 | | | | | | 412 | | |
| | |
For the six months ended June 30, 2023
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy
Infra. And Mobility |
| |
Other
|
| |
Adjustments
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Net profit/(loss)
|
| | | | 17 | | | | | | 205 | | | | | | 5 | | | | | | 1 | | | | | | (59) | | | | | | 0 | | | | | | 169 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | (6) | | | | | | 0 | | | | | | (6) | | |
Income tax/(expense)
|
| | | | 14 | | | | | | 4 | | | | | | 0 | | | | | | 0 | | | | | | 2 | | | | | | 0 | | | | | | 20 | | |
Share of profits of equity-accounted companies
|
| | | | (1) | | | | | | (74) | | | | | | (5) | | | | | | (3) | | | | | | 0 | | | | | | 0 | | | | | | (83) | | |
Net financial income/(expense)
|
| | | | (34) | | | | | | 109 | | | | | | (8) | | | | | | (2) | | | | | | 35 | | | | | | 0 | | | | | | 100 | | |
Impairment and disposal of fixed assets
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | |
Fixed asset depreciation
|
| | | | 66 | | | | | | 116 | | | | | | 6 | | | | | | 10 | | | | | | 3 | | | | | | 0 | | | | | | 201 | | |
Adjusted EBITDA
|
| | | | 62 | | | | | | 360 | | | | | | (2) | | | | | | 6 | | | | | | (25) | | | | | | 0 | | | | | | 401 | | |
| | |
For the six months ended June 30, 2022
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy
Infra. And Mobility |
| |
Other
|
| |
Adjustments
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Net profit/(loss)
|
| | | | 11 | | | | | | 46 | | | | | | (12) | | | | | | (5) | | | | | | 40 | | | | | | 1 | | | | | | 81 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 5 | | | | | | 0 | | | | | | 5 | | |
Income tax/(expense)
|
| | | | 12 | | | | | | 15 | | | | | | 1 | | | | | | 0 | | | | | | (7) | | | | | | 0 | | | | | | 21 | | |
Share of profits of equity-accounted companies
|
| | | | 0 | | | | | | (50) | | | | | | (3) | | | | | | 1 | | | | | | 0 | | | | | | (3) | | | | | | (55) | | |
Net financial income/(expense)
|
| | | | 3 | | | | | | 163 | | | | | | (5) | | | | | | 3 | | | | | | (47) | | | | | | 1 | | | | | | 118 | | |
Impairment and disposal of fixed assets
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | |
Fixed asset depreciation
|
| | | | 52 | | | | | | 82 | | | | | | 0 | | | | | | 6 | | | | | | 3 | | | | | | 0 | | | | | | 143 | | |
Adjusted EBITDA
|
| | | | 78 | | | | | | 256 | | | | | | (19) | | | | | | 5 | | | | | | (6) | | | | | | (1) | | | | | | 313 | | |
| | |
For the year ended December 31, 2022
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy
Infra. And Mobility |
| |
Other
|
| |
Adjustments
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Net profit/(loss)
|
| | | | 60 | | | | | | 156 | | | | | | 19 | | | | | | (15) | | | | | | 85 | | | | | | 0 | | | | | | 305 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | (64) | | | | | | 0 | | | | | | (64) | | |
Income tax/(expense)
|
| | | | 5 | | | | | | 39 | | | | | | (2) | | | | | | 4 | | | | | | (16) | | | | | | 0 | | | | | | 30 | | |
Share of profits of equity-accounted companies
|
| | | | (1) | | | | | | (158) | | | | | | (7) | | | | | | 1 | | | | | | 0 | | | | | | 0 | | | | | | (165) | | |
Net financial income/(expense)
|
| | | | (1) | | | | | | 350 | | | | | | (19) | | | | | | 8 | | | | | | (21) | | | | | | 0 | | | | | | 317 | | |
Impairment and disposal of fixed assets
|
| | | | 0 | | | | | | 3 | | | | | | 0 | | | | | | 3 | | | | | | 0 | | | | | | 0 | | | | | | 6 | | |
Fixed asset depreciation
|
| | | | 113 | | | | | | 160 | | | | | | 7 | | | | | | 12 | | | | | | 7 | | | | | | 0 | | | | | | 299 | | |
Adjusted EBITDA
|
| | | | 176 | | | | | | 550 | | | | | | (2) | | | | | | 13 | | | | | | (9) | | | | | | 0 | | | | | | 728 | | |
| | |
For the year ended December 31, 2021
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy
Infra. And Mobility |
| |
Other
|
| |
Adjustments
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Net profit/(loss)
|
| | | | 190 | | | | | | 1,118 | | | | | | (279) | | | | | | (28) | | | | | | 337 | | | | | | 1 | | | | | | 1,339 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | (115) | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | (246) | | | | | | 0 | | | | | | (361) | | |
Income tax/(expense)
|
| | | | 49 | | | | | | 71 | | | | | | (7) | | | | | | (5) | | | | | | (116) | | | | | | (1) | | | | | | (9) | | |
Share of profits of equity-accounted companies
|
| | | | 0 | | | | | | (81) | | | | | | 254 | | | | | | 6 | | | | | | (1) | | | | | | 0 | | | | | | 178 | | |
Net financial income/(expense)
|
| | | | 30 | | | | | | 284 | | | | | | 6 | | | | | | 3 | | | | | | 10 | | | | | | (1) | | | | | | 332 | | |
Impairment and disposal of fixed
assets |
| | | | (22) | | | | | | (1,117) | | | | | | 0 | | | | | | 0 | | | | | | (1) | | | | | | 1 | | | | | | (1,139) | | |
Fixed asset depreciation
|
| | | | 112 | | | | | | 141 | | | | | | 0 | | | | | | 12 | | | | | | 5 | | | | | | 0 | | | | | | 270 | | |
Adjusted EBITDA
|
| | | | 244 | | | | | | 416 | | | | | | (26) | | | | | | (12) | | | | | | (12) | | | | | | 0 | | | | | | 610 | | |
| | |
For the year ended December 31, 2020
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy
Infra. And Mobility |
| |
Other
|
| |
Adjustments
|
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Net profit/(loss)
|
| | | | 90 | | | | | | 78 | | | | | | (458) | | | | | | (47) | | | | | | (40) | | | | | | 0 | | | | | | (377) | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | (35) | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | (10) | | | | | | 0 | | | | | | (45) | | |
Income tax/(expense)
|
| | | | 29 | | | | | | 8 | | | | | | (7) | | | | | | (2) | | | | | | (63) | | | | | | 0 | | | | | | (35) | | |
Share of profits of equity-accounted companies
|
| | | | (1) | | | | | | (67) | | | | | | 439 | | | | | | 2 | | | | | | 0 | | | | | | 0 | | | | | | 373 | | |
Net financial income/(expense)
|
| | | | 18 | | | | | | 161 | | | | | | 3 | | | | | | 7 | | | | | | 58 | | | | | | 0 | | | | | | 247 | | |
Impairment and disposal of fixed assets
|
| | | | 0 | | | | | | (9) | | | | | | 0 | | | | | | 18 | | | | | | 0 | | | | | | 0 | | | | | | 9 | | |
Fixed asset depreciation
|
| | | | 113 | | | | | | 109 | | | | | | 1 | | | | | | 11 | | | | | | 5 | | | | | | 1 | | | | | | 240 | | |
Adjusted EBITDA
|
| | | | 214 | | | | | | 280 | | | | | | (22) | | | | | | (11) | | | | | | (50) | | | | | | 1 | | | | | | 412 | | |
| | |
For the six months ended
June 30, |
| |
For the year ended
December 31, |
| ||||||||||||||||||||||||
| | | | |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| ||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||
Revenues | | | | | 3,940 | | | | | | 3,534 | | | | | | 7,551 | | | | | | 6,910 | | | | | | 6,641 | | |
Exchange rate effect(1)
|
| | | | 0 | | | | | | (1) | | | | | | — | | | | | | 286 | | | | | | (89) | | |
Fixed asset impairments(2)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Operating results of disposed companies(3)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 0 | | |
Restructuring costs
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Operating results from new acquired companies(4)
|
| | | | (24) | | | | | | — | | | | | | (44) | | | | | | — | | | | | | — | | |
Accounting model adjustments(5)
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (3) | | |
Non-current impacts(6)
|
| | | | — | | | | | | — | | | | | | — | | | | | | 0 | | | | | | 0 | | |
Revenues Comparable (Like-for-like) from continuing operations
|
| | | | 3,916 | | | | | | 3,533 | | | | | | 7,507 | | | | | | 7,196 | | | | | | 6,549 | | |
| | |
For the six months
ended June 30, |
| |
For the year ended
December 31, |
| ||||||||||||||||||||||||
| | | | |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| ||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||
Net profit/(loss)
|
| | | | 169 | | | | | | 81 | | | | | | 305 | | | | | | 1,339 | | | | | | (377) | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | (6) | | | | | | 5 | | | | | | (64) | | | | | | (361) | | | | | | (45) | | |
Income tax/(expense)
|
| | | | 20 | | | | | | 21 | | | | | | 30 | | | | | | (9) | | | | | | (35) | | |
Share of profits of equity-accounted companies
|
| | | | (83) | | | | | | (55) | | | | | | (165) | | | | | | 178 | | | | | | 373 | | |
Net financial income/(expense)
|
| | | | 100 | | | | | | 118 | | | | | | 317 | | | | | | 332 | | | | | | 247 | | |
Impairment and disposal of fixed assets(1)
|
| | | | 0 | | | | | | 0 | | | | | | 6 | | | | | | (1,139) | | | | | | 9 | | |
Exchange rate effect(2)
|
| | | | 0 | | | | | | 2 | | | | | | 0 | | | | | | 20 | | | | | | (6) | | |
Operating results of disposed companies(3)
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | |
Restructuring costs
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 22 | | |
Operating results from new acquired companies(4)
|
| | | | (8) | | | | | | 0 | | | | | | (28) | | | | | | 0 | | | | | | 0 | | |
Accounting model adjustments(5)
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 6 | | |
Non-current impacts(6)
|
| | | | 0 | | | | | | 1 | | | | | | 3 | | | | | | 6 | | | | | | 4 | | |
Adjusted EBIT Comparable (Like-for-like) from continuing operations
|
| | | | 192 | | | | | | 173 | | | | | | 405 | | | | | | 366 | | | | | | 199 | | |
| | |
For the six months
ended June 30, |
| |
For the year ended
December 31, |
| ||||||||||||||||||||||||
| | | | |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| ||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||
Net profit/(loss)
|
| | | | 169 | | | | | | 81 | | | | | | 305 | | | | | | 1,339 | | | | | | (377) | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | (6) | | | | | | 5 | | | | | | (64) | | | | | | (361) | | | | | | (45) | | |
Income tax/(expense)
|
| | | | 20 | | | | | | 21 | | | | | | 30 | | | | | | (9) | | | | | | (35) | | |
Share of profits of equity-accounted companies
|
| | | | (83) | | | | | | (55) | | | | | | (165) | | | | | | 178 | | | | | | 373 | | |
Net financial income/(expense)
|
| | | | 100 | | | | | | 118 | | | | | | 317 | | | | | | 332 | | | | | | 247 | | |
Impairment and disposal of fixed assets(1)
|
| | | | 0 | | | | | | 0 | | | | | | 6 | | | | | | (1,139) | | | | | | 9 | | |
Fixed asset depreciation(2)
|
| | | | 201 | | | | | | 143 | | | | | | 299 | | | | | | 270 | | | | | | 240 | | |
Exchange rate effect(3)
|
| | | | 0 | | | | | | 3 | | | | | | 0 | | | | | | 35 | | | | | | (9) | | |
Operating results of disposed companies(4)
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | |
Restructuring costs
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 22 | | |
Operating results from new acquired companies(5)
|
| | | | (15) | | | | | | 0 | | | | | | (35) | | | | | | 0 | | | | | | 0 | | |
Accounting model adjustments(6)
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 3 | | |
Non-current impacts(7)
|
| | | | 0 | | | | | | 1 | | | | | | 3 | | | | | | 6 | | | | | | 4 | | |
Adjusted EBITDA Comparable (Like-for-like) from continuing operations
|
| | | | 386 | | | | | | 313 | | | | | | 697 | | | | | | 645 | | | | | | 431 | | |
| | |
As of June 30, 2023
|
| |||||||||||||||
| | |
Total
|
| |
Fair Value
Adjustments |
| |
Before Fair Value
Adjustments |
| |||||||||
| | |
(in million of euros)
|
| |||||||||||||||
Operating profit / (loss)
|
| | | | 200 | | | | | | 6(1) | | | | | | 194 | | |
Net financial income / (expense)
|
| | | | (100) | | | | | | 6(2) | | | | | | (106) | | |
Share of profits of equity-accounted companies
|
| | | | 83 | | | | | | 2(3) | | | | | | 81 | | |
Profit/(loss) before tax from continuing operations
|
| | | | 183 | | | | | | 14 | | | | | | 169 | | |
Income tax / (expense)
|
| | | | (20) | | | | | | (1)(4) | | | | | | (19) | | |
Profit/(loss) net of tax from continuing operations
|
| | | | 163 | | | | | | 13 | | | | | | 150 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 6 | | | | | | 0 | | | | | | 6 | | |
Net profit/(loss)
|
| | | | 169 | | | | | | 13 | | | | | | 156 | | |
Net profit/(loss) for the period attributed to non-controlling interests
|
| | | | (54) | | | | | | (2)(5) | | | | | | (52) | | |
Net profit/(loss) for the period attributed to the parent company
|
| | | | 115 | | | | | | 11 | | | | | | 104 | | |
| | |
As of June 30, 2022
|
| |||||||||||||||
| | |
Total
|
| |
Fair Value
Adjustments |
| |
Before Fair Value
Adjustments |
| |||||||||
| | |
(in million of euros)
|
| |||||||||||||||
Operating profit / (loss)
|
| | | | 170 | | | | | | 0 | | | | | | 171 | | |
Net financial income / (expense)
|
| | | | (118) | | | | | | (14)(1) | | | | | | (104) | | |
Share of profits of equity-accounted companies
|
| | | | 55 | | | | | | 9(2) | | | | | | 45 | | |
Profit/(loss) before tax from continuing operations
|
| | | | 107 | | | | | | (5) | | | | | | 112 | | |
Income tax / (expense)
|
| | | | (21) | | | | | | 3(3) | | | | | | (24) | | |
Profit/(loss) net of tax from continuing operations
|
| | | | 86 | | | | | | (2) | | | | | | 88 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | (5) | | | | | | 0 | | | | | | (5) | | |
Net profit/(loss)
|
| | | | 81 | | | | | | (2) | | | | | | 83 | | |
Net profit/(loss) for the period attributed to non-controlling interests
|
| | | | (28) | | | | | | 14(4) | | | | | | (42) | | |
Net profit/(loss) for the period attributed to the parent company
|
| | | | 53 | | | | | | 12 | | | | | | 41 | | |
| | |
As of December 31, 2022
|
| |||||||||||||||
| | |
Total
|
| |
Fair Value
Adjustments |
| |
Before Fair Value
Adjustments |
| |||||||||
| | |
(in million of euros)
|
| |||||||||||||||
Operating profit / (loss)
|
| | | | 423 | | | | | | 1(1) | | | | | | 422 | | |
Net financial income / (expense)
|
| | | | (317) | | | | | | (52)(2) | | | | | | (265) | | |
Share of profits of equity-accounted companies
|
| | | | 165 | | | | | | 7(3) | | | | | | 158 | | |
Profit/(loss) before tax from continuing operations
|
| | | | 271 | | | | | | (44) | | | | | | 315 | | |
Income tax / (expense)
|
| | | | (30) | | | | | | 5(4) | | | | | | (35) | | |
Profit/(loss) net of tax from continuing operations
|
| | | | 241 | | | | | | (39) | | | | | | 280 | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 64 | | | | | | 0 | | | | | | 64 | | |
Net profit/(loss)
|
| | | | 305 | | | | | | (39) | | | | | | 344 | | |
Net profit/(loss) for the year attributed to non-controlling interests
|
| | | | (117) | | | | | | 23(5) | | | | | | (140) | | |
Net profit/(loss) for the year attributed to the parent company
|
| | | | 188 | | | | | | (16) | | | | | | 204 | | |
| | |
As of December 31, 2021
|
| |||||||||||||||
| | |
Total
|
| |
Fair Value
Adjustments |
| |
Before Fair Value
Adjustments |
| |||||||||
| | |
(in million of euros)
|
| |||||||||||||||
Operating profit / (loss)
|
| | | | 1,479 | | | | | | 1,100(1) | | | | | | 379 | | |
Net financial income / (expense)
|
| | | | (332) | | | | | | (83)(2) | | | | | | (249) | | |
Share of profits of equity-accounted companies
|
| | | | (178) | | | | | | (3)(3) | | | | | | (174) | | |
Profit/(loss) before tax from continuing operations
|
| | | | 969 | | | | | | 1,014 | | | | | | (44) | | |
Income tax / (expense)
|
| | | | 9 | | | | | | 21(4) | | | | | | (13) | | |
Profit/(loss) net of tax from continuing operations
|
| | | | 978 | | | | | | 1,035 | | | | | | (57) | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 361 | | | | | | 0 | | | | | | 361 | | |
Net profit/(loss)
|
| | | | 1,339 | | | | | | 1,035 | | | | | | 304 | | |
Net profit/(loss) for the year attributed to non-controlling interests
|
| | | | (138) | | | | | | 15(5) | | | | | | (153) | | |
Net profit/(loss) for the year attributed to the parent company
|
| | | | 1,201 | | | | | | 1,050 | | | | | | 151 | | |
| | |
As of December 31, 2020
|
| |||||||||||||||
| | |
Total
|
| |
Fair Value
Adjustments |
| |
Before Fair Value
Adjustments |
| |||||||||
| | |
(in million of euros)
|
| |||||||||||||||
Operating profit / (loss)
|
| | | | 163 | | | | | | 15(1) | | | | | | 148 | | |
Net financial income / (expense)
|
| | | | (247) | | | | | | 44(2) | | | | | | (291) | | |
Share of profits of equity-accounted companies
|
| | | | (373) | | | | | | (50)(3) | | | | | | (323) | | |
Profit/(loss) before tax from continuing operations
|
| | | | (457) | | | | | | 9 | | | | | | (466) | | |
Income tax / (expense)
|
| | | | 35 | | | | | | (13)(4) | | | | | | 48 | | |
Profit/(loss) net of tax from continuing operations
|
| | | | (422) | | | | | | (4) | | | | | | (418) | | |
Profit/(loss) net of tax from discontinued operations
|
| | | | 45 | | | | | | 0 | | | | | | 45 | | |
Net profit/(loss)
|
| | | | (377) | | | | | | (4) | | | | | | (373) | | |
Net profit/(loss) for the year attributed to non-controlling interests
|
| | | | (51) | | | | | | (9)(5) | | | | | | (42) | | |
Net profit/(loss) for the year attributed to the parent company
|
| | | | (428) | | | | | | (13) | | | | | | (415) | | |
| | |
For the six months ended June 30, 2023
|
| |||||||||||||||
| | |
Reviewed
|
| |
Adjustment(1)
|
| |
Proportional
|
| |||||||||
| | |
(in millions of euros)
|
| |||||||||||||||
Revenues | | | | | | | | | | | | | | | | | | | |
United States(2)
|
| | | | 1,344 | | | | | | (201) | | | | | | 1,143 | | |
Poland(2) | | | | | 935 | | | | | | (466) | | | | | | 469 | | |
Spain
|
| | | | 749 | | | | | | 92 | | | | | | 841 | | |
Canada(3) | | | | | 70 | | | | | | 210 | | | | | | 280 | | |
United Kingdom(3)
|
| | | | 369 | | | | | | 546 | | | | | | 915 | | |
Other
|
| | | | 473 | | | | | | 72 | | | | | | 545 | | |
Total Group
|
| | | | 3,940 | | | | | | 253 | | | | | | 4,193 | | |
| | |
For the year ended December 31, 2022
|
| |||||||||||||||
| | |
Audited
|
| |
Adjustment(1)
|
| |
Proportional
|
| |||||||||
| | |
(in millions of euros)
|
| |||||||||||||||
Revenues | | | | | | | | | | | | | | | | | | | |
United States(2)
|
| | | | 2,906 | | | | | | (469) | | | | | | 2,437 | | |
Poland(2) | | | | | 1,842 | | | | | | (918) | | | | | | 923 | | |
Spain
|
| | | | 1,154 | | | | | | 289 | | | | | | 1,443 | | |
Canada(3) | | | | | 100 | | | | | | 424 | | | | | | 523 | | |
United Kingdom(3)
|
| | | | 708 | | | | | | 954 | | | | | | 1,661 | | |
Other
|
| | | | 841 | | | | | | 242 | | | | | | 1,085 | | |
Total Group
|
| | | | 7,551 | | | | | | 522 | | | | | | 8,073 | | |
| | |
As of June 30,
|
| |
As of December 31,
|
| ||||||||||||
| | | | |
2022
|
| |
2021
|
| ||||||||||
Budimex | | | | | 3,071 | | | | | | 3,181 | | | | | | 3,092 | | |
Webber | | | | | 3,620 | | | | | | 3,372 | | | | | | 2,747 | | |
Ferrovial Construction
|
| | | | 8,166 | | | | | | 8,190 | | | | | | 6,377 | | |
Construction | | | | | 14,857 | | | | | | 14,743 | | | | | | 12,216 | | |
| | |
For the six months
ended June 30, |
| |
For the year ended
December 31, |
| ||||||||||||||||||||||||
| | | | |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| ||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||
Cash flows from operating activities
|
| | | | 282 | | | | | | 139 | | | | | | 1,002 | | | | | | 810 | | | | | | 1,093 | | |
Cash flows from (used in) investing activities
|
| | | | 124 | | | | | | (163) | | | | | | (732) | | | | | | 457 | | | | | | 383 | | |
Cash flows from (used in) financing activities
|
| | | | (982) | | | | | | (389) | | | | | | (316) | | | | | | (2,221) | | | | | | 430 | | |
Cash and cash equivalents at the end of the period
|
| | | | 4,685 | | | | | | 5,081 | | | | | | 5,130 | | | | | | 5,536 | | | | | | 6,544 | | |
| | |
As of December 31,
|
| |||||||||||||||||||||||||||||||||
| | | | |
2021
|
| |||||||||||||||||||||||||||||||
| | |
Bonds
|
| |
Bank
borrowings |
| |
Total
|
| |
Bonds
|
| |
Bank
borrowings |
| |
Total
|
| ||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||
Long-term | | | | | 4,123 | | | | | | 3,770 | | | | | | 7,893 | | | | | | 3,890 | | | | | | 3,472 | | | | | | 7,362 | | |
U.S. toll roads
|
| | | | 4,123 | | | | | | 2,438 | | | | | | 6,561 | | | | | | 3,890 | | | | | | 2,237 | | | | | | 6,127 | | |
Spanish toll roads
|
| | | | — | | | | | | 626 | | | | | | 626 | | | | | | — | | | | | | 632 | | | | | | 632 | | |
Portuguese toll roads
|
| | | | — | | | | | | 264 | | | | | | 264 | | | | | | — | | | | | | 277 | | | | | | 277 | | |
Other concessions
|
| | | | — | | | | | | 33 | | | | | | 33 | | | | | | — | | | | | | 45 | | | | | | 45 | | |
Airports
|
| | | | — | | | | | | 95 | | | | | | 95 | | | | | | — | | | | | | — | | | | | | — | | |
Construction
|
| | | | — | | | | | | 95 | | | | | | 95 | | | | | | — | | | | | | 93 | | | | | | 93 | | |
Energy and mobility
infrastructures |
| | | | — | | | | | | 219 | | | | | | 219 | | | | | | — | | | | | | 187 | | | | | | 187 | | |
Short term
|
| | | | — | | | | | | 74 | | | | | | 74 | | | | | | 1 | | | | | | 46 | | | | | | 47 | | |
U.S. toll roads
|
| | | | — | | | | | | — | | | | | | — | | | | | | 1 | | | | | | — | | | | | | 1 | | |
Spanish toll roads
|
| | | | — | | | | | | 13 | | | | | | 13 | | | | | | — | | | | | | 11 | | | | | | 11 | | |
Portuguese toll roads
|
| | | | — | | | | | | 17 | | | | | | 17 | | | | | | — | | | | | | 14 | | | | | | 14 | | |
| | |
As of December 31,
|
| |||||||||||||||||||||||||||||||||
| | | | |
2021
|
| |||||||||||||||||||||||||||||||
| | |
Bonds
|
| |
Bank
borrowings |
| |
Total
|
| |
Bonds
|
| |
Bank
borrowings |
| |
Total
|
| ||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||
Other concessions
|
| | | | — | | | | | | 13 | | | | | | 13 | | | | | | — | | | | | | 15 | | | | | | 15 | | |
Energy and mobility
infrastructures |
| | | | — | | | | | | 9 | | | | | | 9 | | | | | | — | | | | | | 3 | | | | | | 3 | | |
Construction
|
| | | | — | | | | | | 4 | | | | | | 4 | | | | | | — | | | | | | 3 | | | | | | 3 | | |
Airports
|
| | | | — | | | | | | 18 | | | | | | 18 | | | | | | — | | | | | | — | | | | | | — | | |
Total | | | | | 4,123 | | | | | | 3,844 | | | | | | 7,967 | | | | | | 3,892 | | | | | | 3,517 | | | | | | 7,409 | | |
|
| | |
Fair
value 2022 |
| |
Carrying
amount 2022 |
| |
2023
|
| |
2024
|
| |
2025
|
| |
2026
|
| |
2027
|
| |
2028
and beyond |
| |
Total
maturities |
| |||||||||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||
Infrastructure project obligations
|
| | | | 3,007 | | | | | | 4,123 | | | | | | 0 | | | | | | 0 | | | | | | 1 | | | | | | 8 | | | | | | 1 | | | | | | 2,716 | | | | | | 2,726 | | |
Toll roads
|
| | | | 3,007 | | | | | | 4,123 | | | | | | 0 | | | | | | 0 | | | | | | 1 | | | | | | 8 | | | | | | 1 | | | | | | 2,716 | | | | | | 2,726 | | |
USD
|
| | | | 3,007 | | | | | | 4,123 | | | | | | 0 | | | | | | 0 | | | | | | 1 | | | | | | 8 | | | | | | 1 | | | | | | 2,716 | | | | | | 2,726 | | |
EUR
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | |
Bank borrowings of infrastructure project companies
|
| | | | 3,844 | | | | | | 3,844 | | | | | | 107 | | | | | | 68 | | | | | | 81 | | | | | | 257 | | | | | | 79 | | | | | | 4,820 | | | | | | 5,412 | | |
Toll roads
|
| | | | 3,404 | | | | | | 3,404 | | | | | | 90 | | | | | | 49 | | | | | | 59 | | | | | | 56 | | | | | | 53 | | | | | | 4,647 | | | | | | 4,955 | | |
USD
|
| | | | 2,438 | | | | | | 2,438 | | | | | | 49 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 3,944 | | | | | | 3,994 | | |
EUR
|
| | | | 966 | | | | | | 966 | | | | | | 41 | | | | | | 49 | | | | | | 59 | | | | | | 56 | | | | | | 53 | | | | | | 703 | | | | | | 961 | | |
Airports
|
| | | | 112 | | | | | | 112 | | | | | | 9 | | | | | | 10 | | | | | | 14 | | | | | | 16 | | | | | | 18 | | | | | | 57 | | | | | | 124 | | |
EUR
|
| | | | 112 | | | | | | 112 | | | | | | 9 | | | | | | 10 | | | | | | 14 | | | | | | 16 | | | | | | 18 | | | | | | 57 | | | | | | 124 | | |
Construction
|
| | | | 99 | | | | | | 99 | | | | | | 3 | | | | | | 4 | | | | | | 4 | | | | | | 4 | | | | | | 5 | | | | | | 79 | | | | | | 99 | | |
EUR
|
| | | | 94 | | | | | | 94 | | | | | | 3 | | | | | | 4 | | | | | | 4 | | | | | | 4 | | | | | | 5 | | | | | | 74 | | | | | | 94 | | |
PLN
|
| | | | 5 | | | | | | 5 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 5 | | | | | | 5 | | |
Energy infrastructure and mobility
|
| | | | 228 | | | | | | 228 | | | | | | 4 | | | | | | 5 | | | | | | 5 | | | | | | 181 | | | | | | 3 | | | | | | 37 | | | | | | 234 | | |
USD
|
| | | | 177 | | | | | | 177 | | | | | | 1 | | | | | | 2 | | | | | | 2 | | | | | | 178 | | | | | | 0 | | | | | | 0 | | | | | | 183 | | |
GBP
|
| | | | 51 | | | | | | 51 | | | | | | 3 | | | | | | 3 | | | | | | 3 | | | | | | 3 | | | | | | 3 | | | | | | 37 | | | | | | 51 | | |
Total infrastructure project borrowings
|
| | | | 6,851 | | | | | | 7,967 | | | | | | 107 | | | | | | 68 | | | | | | 82 | | | | | | 265 | | | | | | 80 | | | | | | 7,536 | | | | | | 8,137 | | |
| | |
As of December 31,
|
| |||||||||||||||||||||||||||||||||
| | | | |
2021
|
| |||||||||||||||||||||||||||||||
| | |
Long term
|
| |
Short term
|
| |
Total
|
| |
Long term
|
| |
Short term
|
| |
Total
|
| ||||||||||||||||||
| | |
(in million of euros)
|
| |||||||||||||||||||||||||||||||||
Corporate bonds and debentures
|
| | | | 2,072 | | | | | | 16 | | | | | | 2,088 | | | | | | 2,069 | | | | | | 517 | | | | | | 2,586 | | |
Euro Commercial Paper
|
| | | | 0 | | | | | | 696 | | | | | | 696 | | | | | | 0 | | | | | | 250 | | | | | | 250 | | |
Corporate liquidity lines
|
| | | | 802 | | | | | | 3 | | | | | | 805 | | | | | | 60 | | | | | | 241 | | | | | | 301 | | |
Other borrowings
|
| | | | 9 | | | | | | 88 | | | | | | 97 | | | | | | 22 | | | | | | 42 | | | | | | 64 | | |
Total financial borrowings excluding infrastructure project companies
|
| | | | 2,883 | | | | | | 804 | | | | | | 3,686 | | | | | | 2,151 | | | | | | 1,050 | | | | | | 3,201 | | |
| | |
Fair
value 2022 |
| |
Carrying
amount 2022 |
| |
2023
|
| |
2024
|
| |
2025
|
| |
2026
|
| |
2027
|
| |
2028
and beyond |
| |
Total
maturities |
| |||||||||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate debt
|
| | | | 3,385 | | | | | | 3,589 | | | | | | 696 | | | | | | 300 | | | | | | 750 | | | | | | 781 | | | | | | 560 | | | | | | 500 | | | | | | 3,587 | | |
EUR
|
| | | | 3,385 | | | | | | 3,589 | | | | | | 696 | | | | | | 300 | | | | | | 750 | | | | | | 781 | | | | | | 560 | | | | | | 500 | | | | | | 3,587 | | |
Other borrowings
|
| | | | 97 | | | | | | 97 | | | | | | 22 | | | | | | 3 | | | | | | 9 | | | | | | 17 | | | | | | 8 | | | | | | 2 | | | | | | 59 | | |
EUR
|
| | | | 13 | | | | | | 13 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 1 | | | | | | 2 | | |
PLN
|
| | | | 14 | | | | | | 14 | | | | | | 0 | | | | | | 1 | | | | | | 9 | | | | | | 3 | | | | | | 1 | | | | | | 1 | | | | | | 14 | | |
CLP
|
| | | | 23 | | | | | | 23 | | | | | | 22 | | | | | | 1 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 22 | | |
Other
|
| | | | 48 | | | | | | 48 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 14 | | | | | | 7 | | | | | | 0 | | | | | | 21 | | |
Total financial borrowing excluding infrastructure project companies
|
| | | | 3,482 | | | | | | 3,686 | | | | | | 718 | | | | | | 303 | | | | | | 759 | | | | | | 798 | | | | | | 568 | | | | | | 502 | | | | | | 3,646 | | |
| | |
As of
June 30, |
| |
As of December 31,
|
| ||||||||||||||||||||||||
| | | | |
2022
|
| |
2021
Continuing Operations |
| |
2021
Discontinued Operations |
| |
2021(**)
|
| ||||||||||||||||
| | | | | | | | |
(in million of euros)
|
| | | | | | | |||||||||||||||
Cash and cash equivalents excluding infrastructure projects
|
| | | | 4,526 | | | | | | 4,962 | | | | | | 5,329 | | | | | | 112 | | | | | | 5,441 | | |
Forwards hedging cash flows
|
| | | | (27) | | | | | | 151 | | | | | | (22) | | | | | | — | | | | | | (22) | | |
Non-current restricted cash
|
| | | | 38 | | | | | | 41 | | | | | | 0 | | | | | | — | | | | | | 0 | | |
Short and long-term borrowings
|
| | | | (3,691) | | | | | | (3,686) | | | | | | (3,201) | | | | | | (1) | | | | | | (3,202) | | |
Cross currency swaps
|
| | | | (8) | | | | | | (5) | | | | | | (9) | | | | | | — | | | | | | (9) | | |
Intragroup position(*)
|
| | | | (18) | | | | | | (25) | | | | | | (37) | | | | | | — | | | | | | (37) | | |
Other short term financial assets
|
| | | | — | | | | | | 0 | | | | | | 11 | | | | | | — | | | | | | 11 | | |
Net debt of ex-infrastructure projects
|
| | | | 819 | | | | | | 1,439 | | | | | | 2,071 | | | | | | 111 | | | | | | 2,182 | | |
Cash and cash equivalents from infrastructure projects
|
| | | | 159 | | | | | | 168 | | | | | | 207 | | | | | | 7 | | | | | | 214 | | |
Non- current restricted cash
|
| | | | 279 | | | | | | 556 | | | | | | 579 | | | | | | — | | | | | | 579 | | |
Short and long-term borrowings
|
| | | | (7,597) | | | | | | (7,967) | | | | | | (7,409) | | | | | | (54) | | | | | | (7,463) | | |
Intragroup position(*)
|
| | | | 18 | | | | | | 25 | | | | | | 37 | | | | | | — | | | | | | 37 | | |
Net debt of infrastructure projects
|
| | | | (7,141) | | | | | | (7,219) | | | | | | (6,586) | | | | | | (47) | | | | | | (6,633) | | |
Consolidated Net Debt
|
| | | | (6,321) | | | | | | (5,781) | | | | | | (4,515) | | | | | | 64 | | | | | | (4,451) | | |
| | |
For the six months ended June 30, 2023
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | |
Reclassifications
|
| |
Cash and cash equivalents to Consolidated Net Debt
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows(1) |
| |
IFRS 16(2)
|
| |
Interest
Received(3) |
| |
Restricted
Cash(4) |
| |
Incorporation
of CCX and forwards(5) |
| |
Incorporation
of debt(6) |
| |
Movement in
borrowing(7) |
| |
Other
movement in borrowings (not cash)(8) |
| |
Reclassifications
of FX to financing activity(9) |
| |
Reclassification
change in scope in consolidation to financing activity(10) |
| |
Adjusted
Cash Flows |
| |||||||||||||||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from (used in) operating activities
|
| | | | 282 | | | | | | (39) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 243 | | |
Cash flows from (used in) investing activities
|
| | | | 124 | | | | | | — | | | | | | (119) | | | | | | (271) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (266) | | |
Cash flows from (used in) financing activities
|
| | | | (982) | | | | | | 39 | | | | | | 119 | | | | | | — | | | | | | — | | | | | | — | | | | | | (46) | | | | | | (9) | | | | | | 109 | | | | | | 253 | | | | | | (517) | | |
Cash and cash equivalents at the end of the
period / Consolidated Net Debt(11)
|
| | | | 4,685 | | | | | | — | | | | | | — | | | | | | 317 | | | | | | (35) | | | | | | (11,288) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (6,321) | | |
| | |
For the six months ended June 30, 2022
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | |
Reclassifications
|
| |
Cash and cash equivalents to Consolidated Net Debt
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows(1) |
| |
IFRS 16(2)
|
| |
Interest
Received (3) |
| |
Restricted
Cash(4) |
| |
Incorporation
of CCX and forwards(5) |
| |
Incorporation
of debt(6) |
| |
Movement
in borrowing(7) |
| |
NCP
Other long-term receivables(8) |
| |
Incorporation
of discontinuation in op. NCP(9) |
| |
Other
movement in borrowings (not cash)(10) |
| |
Reclassifications
of FX to financing activity(11) |
| |
Reclassification
change in scope in consolidation to financing activity(12) |
| |
Adjusted
Cash Flows |
| |||||||||||||||||||||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from
(used in) operating activities |
| | | | 139 | | | | | | (49) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 89 | | |
Cash flows from
(used in) investing activities |
| | | | (163) | | | | | | — | | | | | | (16) | | | | | | (26) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (205) | | |
Cash flows from
(used in) financing activities |
| | | | (389) | | | | | | 49 | | | | | | 16 | | | | | | — | | | | | | — | | | | | | — | | | | | | (170) | | | | | | — | | | | | | — | | | | | | (31) | | | | | | (504) | | | | | | 12 | | | | | | (1,015) | | |
Cash and cash
equivalents at the end of the period / Consolidated Net Debt(13) |
| | | | 5,081 | | | | | | — | | | | | | — | | | | | | 601 | | | | | | (45) | | | | | | (11,350) | | | | | | — | | | | | | — | | | | | | 130 | | | | | | — | | | | | | — | | | | | | — | | | | | | (5,583) | | |
| | |
For the year ended December 31, 2022
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | |
Reclassifications
|
| |
Cash and cash equivalents to Consolidated Net Debt
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows(1) |
| |
IFRS 16(2)
|
| |
Interest
Received(3) |
| |
Restricted
Cash(4) |
| |
Incorporation
of CCX and forwards(5) |
| |
Incorporation
of debt(6) |
| |
Movement
in borrowing(7) |
| |
Other
movement in borrowings (not cash)(8) |
| |
Reclassifications
of FX to financing activity(9) |
| |
Reclassification
change in scope in consolidation to financing activity(10) |
| |
Adjusted
Cash Flows |
| |||||||||||||||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from (used in) operating activities
|
| | | | 1,002 | | | | | | (72) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 930 | | |
Cash flows from (used in) investing activities
|
| | | | (732) | | | | | | — | | | | | | (47) | | | | | | (18) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (797) | | |
Cash flows from (used in) financing activities
|
| | | | (316) | | | | | | 72 | | | | | | 47 | | | | | | — | | | | | | — | | | | | | — | | | | | | (543) | | | | | | (71) | | | | | | (456) | | | | | | (197) | | | | | | (1,463) | | |
Cash and cash equivalents at the end of the period / Consolidated Net Debt(11)
|
| | | | 5,130 | | | | | | — | | | | | | — | | | | | | 597 | | | | | | 146 | | | | | | (11,653) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (5,781) | | |
| | |
For the year ended December 31, 2021
|
| | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | |
Reclassifications
|
| |
Cash and cash equivalents to Consolidated Net Debt
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows(1) |
| |
IFRS 16(2)
|
| |
Interest
Received(3) |
| |
Restricted
Cash(4) |
| |
Incorporation
of CCX and forwards(5) |
| |
Incorporation
of debt(6) |
| |
Movement
in borrowing(7) |
| |
NCP
Other long-term receivables(8) |
| |
Incorporation
of discontinuation in op. NCP(9) |
| |
Other
movement in borrowings (not cash)(10) |
| |
Reclassifications
of FX to financing activity(11) |
| |
Reclassification
change in scope in consolidation to financing activity(12) |
| |
Adjusted
Cash Flows |
| | | |||||||||||||||||||||||||||||||||||||||||||
| | |
(in millions of euros)
|
| | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from (used in)
operating activities |
| | | | 810 | | | | | | (131) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 679 | | | | | ||||
Cash flows from (used in)
investing activities |
| | | | 457 | | | | | | — | | | | | | (3) | | | | | | (119) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 336 | | | | | ||||
Cash flows from (used in)
financing activities |
| | | | (2,221) | | | | | | 131 | | | | | | 3 | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,119 | | | | | | — | | | | | | — | | | | | | (17) | | | | | | (202) | | | | | | (1,738) | | | | | | (2,926) | | | | | ||||
Cash and cash
equivalents at the end of the period / Consolidated Net Debt(13) |
| | | | 5,536 | | | | | | — | | | | | | — | | | | | | 579 | | | | | | (31) | | | | | | (10,610) | | | | | | — | | | | | | 11 | | | | | | 63 | | | | | | — | | | | | | — | | | | | | — | | | | | | (4,451) | | | | |
| | |
For the year ended December 31, 2020
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | |
Reclassifications
|
| |
Cash and cash equivalents to Consolidated Net Debt
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows(1) |
| |
IFRS 16(2)
|
| |
Interest
Received(3) |
| |
Restricted
Cash(4) |
| |
Incorporation
of CCX and forwards(5) |
| |
Incorporation
of debt(6) |
| |
Movement
in borrowing(7) |
| |
Incorporation
of discontinuation in op. NCP(8) |
| |
Other
movement in borrowings (not cash)(9) |
| |
Reclassifications
of FX to financing activity(10) |
| |
Reclassification
change in scope in consolidation to financing activity(11) |
| |
Adjusted
Cash Flows |
| ||||||||||||||||||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from (used in) operating activities
|
| | | | 1,093 | | | | | | (89) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,004 | | |
Cash flows from (used in) investing activities
|
| | | | 383 | | | | | | — | | | | | | (25) | | | | | | (253) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 104 | | |
Cash flows from (used in) financing activities
|
| | | | 430 | | | | | | 89 | | | | | | 25 | | | | | | — | | | | | | — | | | | | | — | | | | | | (1,309) | | | | | | — | | | | | | (51) | | | | | | 201 | | | | | | 78 | | | | | | (692) | | |
Cash and cash equivalents at the end
of the period / Consolidated Net Debt(12) |
| | | | 6,544 | | | | | | — | | | | | | — | | | | | | 654 | | | | | | 12 | | | | | | (9,762) | | | | | | — | | | | | | 12 | | | | | | — | | | | | | — | | | | | | — | | | | | | (2,541) | | |
| | |
For the six months ended June 30,
|
| |||||||||||||||||||||||||||||||||||||||||||||
| | | | |
2022
|
| |||||||||||||||||||||||||||||||||||||||||||
| | |
Infrastructure
Cash Flows |
| |
Ex-infrastructure
Cash Flows(1) |
| |
Adjustments
|
| |
Adjusted
Cash Flows |
| |
Infrastructure
Cash Flows |
| |
Ex-infrastructure
Cash Flows(1) |
| |
Adjustments
|
| |
Adjusted
Cash Flows |
| ||||||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||||||||
Dividends received from consolidated infrastructure project companies
|
| | | | — | | | | | | 287 | | | | | | (287) | | | | | | — | | | | | | — | | | | | | 74 | | | | | | (74) | | | | | | — | | |
Other cash flows from (used in) operating activities
|
| | | | 395 | | | | | | (152) | | | | | | — | | | | | | 243 | | | | | | 272 | | | | | | (183) | | | | | | — | | | | | | 89 | | |
Cash flows from (used in) operating
activities (1) |
| | | | 395 | | | | | | 135 | | | | | | (287) | | | | | | 243 | | | | | | 272 | | | | | | (109) | | | | | | (74) | | | | | | 89 | | |
Investment in consolidated infrastructure project companies
|
| | | | — | | | | | | (86) | | | | | | 86 | | | | | | — | | | | | | — | | | | | | (143) | | | | | | 143 | | | | | | — | | |
Other cash flows from (used in) investing activities
|
| | | | (138) | | | | | | (128) | | | | | | — | | | | | | (266) | | | | | | (295) | | | | | | 90 | | | | | | — | | | | | | (205) | | |
Cash flows from (used in) investing
activities (2) |
| | | | (138) | | | | | | (214) | | | | | | 86 | | | | | | (266) | | | | | | (295) | | | | | | (53) | | | | | | 143 | | | | | | (205) | | |
Dividends paid by consolidated infrastructure project companies
|
| | | | (287) | | | | | | — | | | | | | 287 | | | | | | — | | | | | | (74) | | | | | | — | | | | | | 74 | | | | | | — | | |
Investment received by consolidated infrastructure project companies
|
| | | | 86 | | | | | | — | | | | | | (86) | | | | | | — | | | | | | 143 | | | | | | — | | | | | | (143) | | | | | | — | | |
Other cash flows from (used in) financing activities
|
| | | | 23 | | | | | | (540) | | | | | | — | | | | | | (517) | | | | | | (516) | | | | | | (499) | | | | | | — | | | | | | (1,015) | | |
Cash flows from (used in) financing
activities (3) |
| | | | (178) | | | | | | (540) | | | | | | 201 | | | | | | (517) | | | | | | (447) | | | | | | (499) | | | | | | (69) | | | | | | (1,015) | | |
Net Debt / Cash variation (1+2+3)
|
| | | | 79 | | | | | | (619) | | | | | | — | | | | | | (540) | | | | | | (470) | | | | | | (661) | | | | | | — | | | | | | (1,131) | | |
Initial Net Debt Position (4)
|
| | | | (7,219) | | | | | | 1,439 | | | | | | — | | | | | | (5,781) | | | | | | (6,633) | | | | | | 2,182 | | | | | | — | | | | | | (4,451) | | |
Final Net Debt Position (4) +
(1+2+3) |
| | | | (7,140) | | | | | | 819 | | | | | | — | | | | | | (6,321) | | | | | | (7,103) | | | | | | 1,521 | | | | | | — | | | | | | (5,583) | | |
| | |
For the year ended December 31,
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | |
2021
|
| |
2020
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Infra-
structure Cash Flows |
| |
Ex-infrastructure
Cash Flows(1) |
| |
Adjustments
|
| |
Adjusted
Cash Flows |
| |
Infra-
structure Cash Flows |
| |
Ex-infrastructure
Cash Flows(1) |
| |
Adjustments
|
| |
Adjusted
Cash Flows |
| |
Infra-
structure Cash Flows |
| |
Ex-infrastructure
Cash Flows(1) |
| |
Adjustments
|
| |
Adjusted
Cash Flows |
| ||||||||||||||||||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends received from consolidated infrastructure project companies
|
| | | | — | | | | | | 191 | | | | | | (191) | | | | | | — | | | | | | — | | | | | | 276 | | | | | | (276) | | | | | | — | | | | | | — | | | | | | 159 | | | | | | (159) | | | | | | — | | |
Other cash flows from (used in) operating
activities |
| | | | 629 | | | | | | 302 | | | | | | — | | | | | | 930 | | | | | | 469 | | | | | | 210 | | | | | | — | | | | | | 679 | | | | | | 413 | | | | | | 591 | | | | | | — | | | | | | 1,004 | | |
Cash flows from
(used in) operating activities (1) |
| | | | 629 | | | | | | 493 | | | | | | (191) | | | | | | 930 | | | | | | 469 | | | | | | 486 | | | | | | (276) | | | | | | 679 | | | | | | 413 | | | | | | 750 | | | | | | (159) | | | | | | 1,004 | | |
Investment in consolidated infrastructure
project companies |
| | | | — | | | | | | (414) | | | | | | 414 | | | | | | — | | | | | | — | | | | | | (65) | | | | | | 65 | | | | | | — | | | | | | — | | | | | | (18) | | | | | | 18 | | | | | | — | | |
Other cash flows from (used in) investing
activities |
| | | | (784) | | | | | | (13) | | | | | | — | | | | | | (797) | | | | | | (239) | | | | | | 574 | | | | | | — | | | | | | 336 | | | | | | (128) | | | | | | 233 | | | | | | — | | | | | | 104 | | |
Cash flows from (used in) investing activities (2)
|
| | | | (784) | | | | | | (427) | | | | | | 414 | | | | | | (797) | | | | | | (239) | | | | | | 509 | | | | | | 65 | | | | | | 336 | | | | | | (128) | | | | | | 215 | | | | | | 18 | | | | | | 104 | | |
Dividends paid by consolidated infrastructure project companies
|
| | | | (191) | | | | | | — | | | | | | 191 | | | | | | — | | | | | | (276) | | | | | | — | | | | | | 276 | | | | | | — | | | | | | (159) | | | | | | — | | | | | | 159 | | | | | | — | | |
Investment received by consolidated infrastructure project companies
|
| | | | 414 | | | | | | — | | | | | | (414) | | | | | | — | | | | | | 65 | | | | | | — | | | | | | (65) | | | | | | — | | | | | | 18 | | | | | | — | | | | | | (18) | | | | | | — | | |
Other cash flows from (used in) financing
activities |
| | | | (654) | | | | | | (809) | | | | | | — | | | | | | (1,463) | | | | | | (2,122) | | | | | | (804) | | | | | | — | | | | | | (2,926) | | | | | | (87) | | | | | | (605) | | | | | | — | | | | | | (692) | | |
Cash flows from (used in) financing activities (3)
|
| | | | (431) | | | | | | (809) | | | | | | (223) | | | | | | (1,463) | | | | | | (2,332) | | | | | | (804) | | | | | | 210 | | | | | | (2.926) | | | | | | (228) | | | | | | (605) | | | | | | 141 | | | | | | (692) | | |
Net Debt / Cash variation (1+2+3)
|
| | |
|
(586)
|
| | | |
|
(743)
|
| | | |
|
—
|
| | | |
|
(1,330)
|
| | | |
|
(2,102)
|
| | | |
|
(191)
|
| | | |
|
—
|
| | | |
|
(1,911)
|
| | | |
|
57
|
| | | |
|
360
|
| | | | | — | | | | |
|
416
|
| |
Initial Net Debt Position (4)
|
| | | | (6,633) | | | | | | 2,182 | | | | | | — | | | | | | (4,451) | | | | | | (4,532) | | | | | | 1,991 | | | | | | — | | | | | | (2,541) | | | | | | (4,588) | | | | | | 1,631 | | | | |
|
—
|
| | | | | (2,957) | | |
Final Net Debt Position (4) +
(1+2+3) |
| | | | (7,219) | | | | | | 1,439 | | | | | | — | | | | | | (5,781) | | | | | | (6,633) | | | | | | 2,182 | | | | | | — | | | | | | (4,451) | | | | | | (4,532) | | | | | | 1,991 | | | | |
|
—
|
| | | | | (2,541) | | |
| | |
For the six months ended June 30, 2023
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows (I)(1) |
| |
Infrastructure
cash flows and adjustments under IAS 7 elimination (II)(2) |
| |
Ex-infrastructure
cash flows under IAS 7 (III = I+II)(3) |
| |
IFRS 16 (IV)(4)
|
| |
Interest
received (V)(5) |
| |
Cash and cash
equivalents to Consolidated Net Debt (VI)(6) |
| |
Ex-Infrastructure
Cash Flows (III+IV+V+VI) |
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Cash flows from (used in) operating activities
|
| | | | 282 | | | | | | (108) | | | | | | 174 | | | | | | (39) | | | | | | — | | | | | | — | | | | | | 135 | | |
Cash flows from (used in) investing activities
|
| | | | 124 | | | | | | (229) | | | | | | (106) | | | | | | — | | | | | | (105) | | | | | | (3) | | | | | | (214) | | |
Cash from (used in) financing activities
|
| | | | (982) | | | | | | 313 | | | | | | (669) | | | | | | 39 | | | | | | 105 | | | | | | (16) | | | | | | (540) | | |
Cash and cash equivalents at the end of
the period / Consolidated Net Debt(7) |
| | | | 4,685 | | | | | | (159) | | | | | | 4,526 | | | | | | — | | | | | | — | | | | | | (3,707) | | | | | | 819 | | |
| | |
For the six months ended June 30, 2023
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows (I) (1) |
| |
Ex-infrastructure
cash flows and adjustments under IAS 7 elimination (II)(2) |
| |
Infrastructure
cash flows under IAS 7 (III = I+II)(3) |
| |
IFRS 16 (IV)(4)
|
| |
Interest
received (V)(5) |
| |
Cash and cash
equivalents to Consolidated Net Debt (VI)(6) |
| |
Infrastructure
Cash Flows (III+IV+V+VI) |
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Cash flows from (used in) operating activities
|
| | | | 282 | | | | | | 113 | | | | | | 395 | | | | | | — | | | | | | — | | | | | | — | | | | | | 395 | | |
Cash flows from (used in) investing
activities |
| | | | 124 | | | | | | 22 | | | | | | 145 | | | | | | — | | | | | | (15) | | | | | | (268) | | | | | | (138) | | |
Cash from (used in) financing activities
|
| | | | (982) | | | | | | 466 | | | | | | (516) | | | | | | — | | | | | | 15 | | | | | | 322 | | | | | | (178) | | |
Cash and cash equivalents at the end of
the period / Consolidated Net Debt(7) |
| | | | 4,685 | | | | | | (4,526) | | | | | | 159 | | | | | | — | | | | | | — | | | | | | (7,300) | | | | | | (7,140) | | |
| | |
For the six months ended June 30, 2022
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows (I)(1) |
| |
Infrastructure
cash flows and adjustments under IAS 7 elimination (II)(2) |
| |
Ex-infrastructure
cash flows under IAS 7 (III = I+II)(3) |
| |
IFRS 16 (IV)(4)
|
| |
Interest
received (V)(5) |
| |
Cash and cash
equivalents to Consolidated Net Debt (VI)(6) |
| |
Ex-Infrastructure
Cash Flows (III+IV+V+VI) |
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Cash flows from (used in) operating activities
|
| | | | 139 | | | | | | (198) | | | | | | (59) | | | | | | (49) | | | | | | — | | | | | | — | | | | | | (109) | | |
Cash flows from (used in) investing activities
|
| | | | (163) | | | | | | 126 | | | | | | (38) | | | | | | — | | | | | | (15) | | | | | | — | | | | | | (53) | | |
Cash from (used in) financing activities
|
| | | | (389) | | | | | | 70 | | | | | | (319) | | | | | | 49 | | | | | | 15 | | | | | | (245) | | | | | | (499) | | |
Cash and cash equivalents at the end of
the period / Consolidated Net Debt(7) |
| | | | 5,081 | | | | | | (219) | | | | | | 4,862 | | | | | | — | | | | | | — | | | | | | (3,342) | | | | | | 1,521 | | |
| | |
For the six months ended June 30, 2022
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows (I)(1) |
| |
Ex-infrastructure
cash flows and adjustments under IAS 7 elimination (II)(2) |
| |
Infrastructure
cash flows under IAS 7 (III = I+II)(3) |
| |
IFRS 16 (IV)(4)
|
| |
Interest
received (V)(5) |
| |
Cash and cash
equivalents to Consolidated Net Debt (VI)(6) |
| |
Infrastructure
Cash Flows (III+IV+V+VI) |
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Cash flows from (used in) operating activities
|
| | | | 139 | | | | | | 133 | | | | | | 272 | | | | | | — | | | | | | — | | | | | | — | | | | | | 272 | | |
Cash flows from (used in) investing activities
|
| | | | (163) | | | | | | (105) | | | | | | (269) | | | | | | — | | | | | | (1) | | | | | | (26) | | | | | | (295) | | |
Cash from (used in) financing activities
|
| | | | (389) | | | | | | 388 | | | | | | 1 | | | | | | — | | | | | | 1 | | | | | | (449) | | | | | | (447) | | |
Cash and cash equivalents at the end of
the period / Consolidated Net Debt(7) |
| | | | 5,081 | | | | | | (4,862) | | | | | | 219 | | | | | | — | | | | | | — | | | | | | (7,322) | | | | | | (7,103) | | |
| | |
For the year ended December 31, 2022
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows (I)(1) |
| |
Infrastructure
cash flows and adjustments under IAS 7 elimination (II)(2) |
| |
Ex-infrastructure
cash flows under IAS 7 (III = I+II)(3) |
| |
IFRS 16 (IV)(4)
|
| |
Interest
received (V)(5) |
| |
Cash and cash
equivalents to Consolidated Net Debt (VI)(6) |
| |
Ex-Infrastructure
Cash Flows (III+IV+V+VI) |
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Cash flows from (used in) operating activities
|
| | | | 1,002 | | | | | | (437) | | | | | | 565 | | | | | | (72) | | | | | | — | | | | | | — | | | | | | 493 | | |
Cash flows from (used in) investing activities
|
| | | | (732) | | | | | | 310 | | | | | | (421) | | | | | | — | | | | | | (47) | | | | | | 41 | | | | | | (427) | | |
Cash from (used in) financing activities
|
| | | | (316) | | | | | | 177 | | | | | | (140) | | | | | | 72 | | | | | | 47 | | | | | | (788) | | | | | | (809) | | |
Cash and cash equivalents at the end of
the period / Consolidated Net Debt(7) |
| | | | 5,130 | | | | | | (168) | | | | | | 4,962 | | | | | | — | | | | | | — | | | | | | (3,523) | | | | | | 1,439 | | |
| | |
For the year ended December 31, 2022
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows (I) (1) |
| |
Ex-infrastructure
cash flows and adjustments under IAS 7 elimination (II)(2) |
| |
Infrastructure
cash flows under IAS 7 (III = I+II)(3) |
| |
IFRS 16 (IV)(4)
|
| |
Interest
received (V)(5) |
| |
Cash and cash
equivalents to Consolidated Net Debt (VI)(6) |
| |
Infrastructure
Cash Flows (III+IV+V+VI) |
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Cash flows from (used in) operating activities
|
| | | | 1,002 | | | | | | (373) | | | | | | 629 | | | | | | — | | | | | | — | | | | | | — | | | | | | 629 | | |
Cash flows from (used in) investing activities
|
| | | | (732) | | | | | | 11 | | | | | | (720) | | | | | | — | | | | | | (4) | | | | | | (60) | | | | | | (784) | | |
Cash from (used in) financing activities
|
| | | | (316) | | | | | | 359 | | | | | | 42 | | | | | | — | | | | | | 4 | | | | | | (476) | | | | | | (431) | | |
Cash and cash equivalents at the end of
the period / Consolidated Net Debt(7) |
| | | | 5,130 | | | | | | (4,962) | | | | | | 168 | | | | | | — | | | | | | — | | | | | | (7,387) | | | | | | (7,219) | | |
| | |
For the year ended December 31, 2021
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows (I)(1) |
| |
Infrastructure
cash flows and adjustments under IAS 7 elimination (II)(2) |
| |
Ex-infrastructure
cash flows under IAS 7 (III = I+II)(3) |
| |
IFRS 16 (IV)(4)
|
| |
Interest
received (V)(5) |
| |
Cash and cash
equivalents to Consolidated Net Debt (VI)(6) |
| |
Ex-Infrastructure
Cash Flows (III+IV+V+VI) |
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Cash flows from (used in) operating activities
|
| | | | 810 | | | | | | (193) | | | | | | 617 | | | | | | (131) | | | | | | — | | | | | | — | | | | | | 486 | | |
Cash flows from (used in) investing activities
|
| | | | 457 | | | | | | 63 | | | | | | 520 | | | | | | — | | | | | | (8) | | | | | | (3) | | | | | | 509 | | |
Cash from (used in) financing activities
|
| | | | (2,221) | | | | | | 82 | | | | | | (2,138) | | | | | | 131 | | | | | | 8 | | | | | | 1,195 | | | | | | (804) | | |
Cash and cash equivalents at the end of
the period / Consolidated Net Debt(7) |
| | | | 5,536 | | | | | | (207) | | | | | | 5,329 | | | | | | — | | | | | | — | | | | | | (3,147) | | | | | | 2,182 | | |
| | |
For the year ended December 31, 2021
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows (I)(1) |
| |
Ex-infrastructure
cash flows and adjustments under IAS 7 elimination (II)(2) |
| |
Infrastructure
cash flows under IAS 7 (III = I+II)(3) |
| |
IFRS 16 (IV)(4)
|
| |
Interest
received (V)(5) |
| |
Cash and cash
equivalents to Consolidated Net Debt (VI)(6) |
| |
Infrastructure
Cash Flows (III+IV+V+VI) |
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Cash flows from (used in) operating activities
|
| | | | 810 | | | | | | (341) | | | | | | 469 | | | | | | — | | | | | | — | | | | | | — | | | | | | 469 | | |
Cash flows from (used in) investing activities
|
| | | | 457 | | | | | | (585) | | | | | | (129) | | | | | | — | | | | | | 6 | | | | | | (116) | | | | | | (239) | | |
Cash from (used in) financing activities
|
| | | | (2,221) | | | | | | 1,928 | | | | | | (292) | | | | | | — | | | | | | (6) | | | | | | (2,033) | | | | | | (2,332) | | |
Cash and cash equivalents at the end of
the period / Consolidated Net Debt(7) |
| | | | 5,536 | | | | | | (5,329) | | | | | | 207 | | | | | | — | | | | | | — | | | | | | (6,841) | | | | | | (6,633) | | |
| | |
For the year ended December 31, 2020
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows (I)(1) |
| |
Infrastructure
cash flows and adjustments under IAS 7 elimination (II)(2) |
| |
Ex-infrastructure
cash flows under IAS 7 (III = I+II)(3) |
| |
IFRS 16 (IV)(4)
|
| |
Interest
received (V)(5) |
| |
Cash and cash
equivalents to Consolidated Net Debt (VI)(6) |
| |
Ex-Infrastructure
Cash Flows (III+IV+V+VI) |
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Cash flows from (used in) operating activities
|
| | | | 1,093 | | | | | | (254) | | | | | | 839 | | | | | | (89) | | | | | | — | | | | | | — | | | | | | 750 | | |
Cash flows from (used in) investing activities
|
| | | | 383 | | | | | | (147) | | | | | | 235 | | | | | | — | | | | | | (17) | | | | | | (4) | | | | | | 215 | | |
Cash from (used in) financing activities
|
| | | | 430 | | | | | | 399 | | | | | | 829 | | | | | | 89 | | | | | | 17 | | | | | | (1,539) | | | | | | (605) | | |
Cash and cash equivalents at the end of
the period / Consolidated Net Debt(7) |
| | | | 6,544 | | | | | | (186) | | | | | | 6,358 | | | | | | — | | | | | | — | | | | | | (4,367) | | | | | | 1,991 | | |
| | |
For the year ended December 31, 2020
|
| |||||||||||||||||||||||||||||||||||||||
| | |
Cash
Flows (I)(1) |
| |
Ex-infrastructure
cash flows and adjustments under IAS 7 elimination (II) (2) |
| |
Infrastructure
cash flows under IAS 7 (III = I+II)(3) |
| |
IFRS 16 (IV)(4)
|
| |
Interest
received (V)(5) |
| |
Cash and cash
equivalents to Consolidated Net Debt (VI)(6) |
| |
Infrastructure
Cash Flows (III+IV+V+VI) |
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Cash flows from (used in) operating activities
|
| | | | 1,093 | | | | | | (680) | | | | | | 413 | | | | | | — | | | | | | — | | | | | | — | | | | | | 413 | | |
Cash flows from (used in) investing activities
|
| | | | 383 | | | | | | (253) | | | | | | 129 | | | | | | — | | | | | | (8) | | | | | | (249) | | | | | | (128) | | |
Cash from (used in) financing activities
|
| | | | 430 | | | | | | (970) | | | | | | (540) | | | | | | — | | | | | | 8 | | | | | | 304 | | | | | | (228) | | |
Cash and cash equivalents at the end of
the period / Consolidated Net Debt(7) |
| | | | 6,544 | | | | | | (6,358) | | | | | | 186 | | | | | | — | | | | | | — | | | | | | (4,717) | | | | | | (4,532) | | |
| | |
As of
June 30, |
| |
As of December 31,
|
| ||||||||||||
| | | | |
2022
|
| |
2021
|
| ||||||||||
| | | | | | | | |
(in million of euros)
|
| |||||||||
Cash and cash equivalents
|
| | | | 4,526 | | | | | | 4,962 | | | | | | 5,329 | | |
Non- current restricted cash
|
| | | | 38 | | | | | | 41 | | | | | | — | | |
Other short term financial assets
|
| | | | | | | | | | | | | | | | 11 | | |
Undrawn credit lines
|
| | | | 985 | | | | | | 964 | | | | | | 782 | | |
Forward hedging cash flows
|
| | | | (27) | | | | | | 151 | | | | | | (22) | | |
Total liquidity ex infrastructure
|
| | | | 5,521 | | | | | | 6,118 | | | | | | 6,100 | | |
| | |
For the six months ended June 30,
|
| |
For the year ended December 31,
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| ||||||||||||||||||||||||||||||||||||||||||||||
| | |
Investments
|
| |
Divestments
|
| |
Investments
|
| |
Divestments
|
| |
Investments
|
| |
Divestments
|
| |
Investments
|
| |
Divestments
|
| |
Investments
|
| |
Divestments
|
| ||||||||||||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Toll Roads
|
| | | | (79) | | | | | | — | | | | | | (132) | | | | | | — | | | | | | (473) | | | | | | 134 | | | | | | (864) | | | | | | 47 | | | | | | (125) | | | | | | 102 | | |
Airports
|
| | | | (66) | | | | | | — | | | | | | (13) | | | | | | — | | | | | | (186) | | | | | | — | | | | | | (54) | | | | | | — | | | | | | — | | | | | | — | | |
Construction
|
| | | | (40) | | | | | | 3 | | | | | | (38) | | | | | | 1 | | | | | | (97) | | | | | | 5 | | | | | | (55) | | | | | | 529 | | | | | | (53) | | | | | | 98 | | |
Services
|
| | | | — | | | | | | — | | | | | | (18) | | | | | | 179 | | | | | | (21) | | | | | | 316 | | | | | | (67) | | | | | | 1,040 | | | | | | (80) | | | | | | 300 | | |
Others(1) | | | | | (22) | | | | | | (10) | | | | | | (33) | | | | | | — | | | | | | (78) | | | | | | (27) | | | | | | (72) | | | | | | 5 | | | | | | (28) | | | | | | 2 | | |
Total | | | | | (207) | | | | | | (7) | | | | | | (234) | | | | | | 180 | | | | | | (856) | | | | | | 429 | | | | | | (1,112) | | | | | | 1,621 | | | | | | (286) | | | | | | 501 | | |
|
Date of issuance
|
| |
Notional amount as of
December 31, 2022 |
| |
Maturity
|
| |
Annual Coupon
|
|
|
(in millions of euros)
|
| |||||||||
|
15/7/2014
|
| |
300
|
| |
15/7/2024
|
| |
2.500%
|
|
|
29/3/2017
|
| |
500
|
| |
31/3/2025
|
| |
1.375%
|
|
|
14/5/2020
|
| |
650
|
| |
14/5/2026
|
| |
1.382%
|
|
|
24/6/2020
|
| |
131
|
| |
14/5/2026
|
| |
1.382%
|
|
|
12/11/2020
|
| |
500
|
| |
12/11/2028
|
| |
0.540%
|
|
| | |
2023
|
| |
2024
|
| |
2025
|
| |
2026
|
| |
2027
|
| |
2028
and beyond |
| |
Total
|
| |||||||||||||||||||||
| | |
(in millions of euros)
|
| |||||||||||||||||||||||||||||||||||||||
Toll Roads
|
| | | | 89 | | | | | | 10 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 100 | | |
Airports
|
| | | | 16 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 16 | | |
Energy and Mobility
|
| | | | 3 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3 | | |
Investments in fully-consolidated infrastructure project companies
|
| | | | 108 | | | | | | 10 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 118 | | |
Toll Roads
|
| | | | 5 | | | | | | — | | | | | | 26 | | | | | | — | | | | | | — | | | | | | — | | | | | | 31 | | |
Airports
|
| | | | 221 | | | | | | 474 | | | | | | 249 | | | | | | 69 | | | | | | — | | | | | | — | | | | | | 1,013 | | |
Construction
|
| | | | 1 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1 | | |
Investments in equity-accounted infrastructure project companies
|
| | | | 229 | | | | | | 478 | | | | | | 278 | | | | | | 69 | | | | | | — | | | | | | — | | | | | | 1,045 | | |
Total investments in infrastructure project companies
|
| | | | 337 | | | | | | 488 | | | | | | 278 | | | | | | 69 | | | | | | — | | | | | | — | | | | | | 1,163 | | |
Name
|
| |
Age
|
| |
Position
|
| |||
Directors | | | | | | | | | | |
Rafael del Pino
|
| | | | 65 | | | | Executive Director (Chairman) | |
Óscar Fanjul
|
| | | | 74 | | | | Non-Executive Director (Vice-Chairman) | |
| | | | 58 | | | | Executive Director (Chief Executive Officer) | | |
María del Pino
|
| | | | 67 | | | | Non-Executive Director | |
José Fernando Sánchez-Junco
|
| | | | 76 | | | | Non-Executive Director | |
Philip Bowman
|
| | | | 71 | | | | Non-Executive Director | |
Hanne Sørensen
|
| | | | 58 | | | | Non-Executive Director | |
Bruno Di Leo
|
| | | | 66 | | | | Non-Executive Director | |
Juan Hoyos
|
| | | | 70 | | | | Non-Executive Director (Lead Director) | |
Gonzalo Urquijo
|
| | | | 62 | | | | Non-Executive Director | |
Hildegard Wortmann
|
| | | | 57 | | | | Non-Executive Director | |
Alicia Reyes
|
| | | | 51 | | | | Non-Executive Director | |
Executive Officers(1) | | | | | | | | | | |
Rafael del Pino
|
| | | | 65 | | | | Executive Director (Chairman) | |
| | | | 58 | | | | Executive Director (Chief Executive Officer) | | |
| | | | 59 | | | | Chief Financial Officer | | |
Andrés Sacristán
|
| | | | 52 | | | | Chief Executive Officer of Cintra | |
Luke Bugeja
|
| | | | 55 | | | | Chief Executive Officer of Ferrovial Airports | |
Ignacio Gastón
|
| | | | 53 | | | | Chief Executive Officer of Ferrovial Construction | |
Gonzalo Nieto
|
| | | | 49 | | | |
Chief Executive Officer of Energy Infrastructure and Mobility
|
|
| | |
Applies to
|
| |
Amount
|
|
Fixed fee ...........................................................
|
| | All | | | EUR 35,000 | |
Complementary Fixed Emolument .....................
|
| | Chairman | | | EUR 92,000 | |
| | | Deputy Chairman 1 | | | EUR 80,500 | |
| | | Deputy Chairman 2 | | | EUR 57,500 | |
| | | Other members of the Board | | | EUR 46,000 | |
Attendance fees (EUR per meeting) ...................
|
| | Board | | | EUR 6,000 | |
| | | Executive Committee | | | EUR 2,200 | |
| | | Audit and Control Committee | | | EUR 2,200 | |
| | | Nomination and Remuneration Committee | | | EUR 1,650 | |
Director
|
| |
Fixed
Emolument |
| |
Attendance
fees |
| |
Complementary
Fixed Emolument |
| |
Total
|
| ||||||||||||
| | |
(Thousands of EUR)
|
| | | |||||||||||||||||||
Rafael del Pino
|
| | | | 35 | | | | | | 103 | | | | | | 107 | | | | | | 245 | | |
Óscar Fanjul
|
| | | | 35 | | | | | | 73 | | | | | | 96 | | | | | | 204 | | |
| | | | 35 | | | | | | 51 | | | | | | 61 | | | | | | 148 | | | |
María del Pino
|
| | | | 35 | | | | | | 51 | | | | | | 61 | | | | | | 148 | | |
José Fernando Sánchez-Junco
|
| | | | 35 | | | | | | 58 | | | | | | 61 | | | | | | 154 | | |
Philip Bowman
|
| | | | 35 | | | | | | 47 | | | | | | 61 | | | | | | 143 | | |
Hanne Sørensen
|
| | | | 35 | | | | | | 41 | | | | | | 61 | | | | | | 137 | | |
Bruno Di Leo
|
| | | | 35 | | | | | | 49 | | | | | | 61 | | | | | | 146 | | |
Juan Hoyos
|
| | | | 35 | | | | | | 51 | | | | | | 61 | | | | | | 148 | | |
Gonzalo Urquijo
|
| | | | 35 | | | | | | 54 | | | | | | 61 | | | | | | 150 | | |
Hildegard Wortmann
|
| | | | 35 | | | | | | 36 | | | | | | 61 | | | | | | 132 | | |
Alicia Reyes
|
| | | | 35 | | | | | | 47 | | | | | | 61 | | | | | | 143 | | |
Executive Director
|
| |
Fixed Remuneration
|
| |
Annual Variable Remuneration
|
| |
Long-Term Value Remuneration
|
|
Chairman and Executive and Proprietary Director..............
|
| | EUR 1,500,000 | | | Target: 125% of the Fixed Remuneration Maximum: 190% of the Fixed Remuneration | | | Maximum (annualized): 150% of the Fixed Remuneration | |
Chief Executive Officer and Executive Director.................
|
| | EUR 1,450,000 | | | Target: 100% of the Fixed Remuneration Maximum: 150% of the Fixed Remuneration | | | Maximum (annualized): 150% of the Fixed Remuneration | |
| | |
Long-term
incentive plan |
| |
At the
beginning of 2022 financial year |
| |
Granted
during the 2022 financial year |
| |
Granted
during the 2023 financial year |
| |
Consolidated during the
2022 financial year |
| |
Consolidated during the
2023 financial year |
| |
Instruments
expired and not exercise (2022) |
| |
At the end
of the 2022 financial year |
| |
Instruments
expired and not exercised 2023 |
| |
At June
of the 2023 financial year |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
Plan
|
| |
Grant
|
| |
No. of
Equivalent shares |
| |
No. of
Equivalent shares |
| |
No. of
Equivalent shares |
| |
No. of
Equivalent shares |
| |
No. of
consolidated equivalent shares |
| |
Consolidated
share price (EUR) |
| |
Gross profit
from consolidated shares (EUR thousand) |
| |
No. of
Equivalent shares |
| |
No. of
consolidated equivalent shares |
| |
Consolidated
share price (EUR) |
| |
Gross profit
from consolidated shares (EUR thousand) |
| |
No. of
instruments (units) |
| |
No. of
Equivalent shares |
| |
No. of
instruments (units) |
| |
No. of
Equivalent shares |
| ||||||||||||||||||||||||||||||||||||||||||||||||
Chairman
|
| | 2019(1) | | | | | 2019 | | | | | | 70,000 | | | | | | — | | | | | | — | | | | | | 35,000 | | | | | | 35,000 | | | | | | 25,242 | | | | | | 883 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 35,000 | | | | | | — | | | | | | — | | | | | | — | | |
| | | 2020-2022 | | | | | 2020 | | | | | | 46,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 29,704 | | | | | | 29,704 | | | | | | 26,77 | | | | | | 795 | | | | | | — | | | | | | 46,500 | | | | | | 16,796 | | | | | | — | | |
| | | | | | | | 2021 | | | | | | 67,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 67,500 | | | | | | — | | | | | | 67,500 | | |
| | | | | | | | 2022 | | | | | | — | | | | | | 56,400 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 56,400 | | | | | | — | | | | | | 56,400 | | |
| | | 2023-2025 | | | | | 2023 | | | | | | — | | | | | | — | | | | | | 50,680 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 50,680 | | |
Chief Executive
Officer |
| | 2019 | | | | | 2019 | | | | | | 14,468 | | | | | | — | | | | | | — | | | | | | 7,234 | | | | | | 7,234 | | | | | | 25,242 | | | | | | 183 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,234 | | | | | | — | | | | | | — | | | | | | — | | |
| | | 2020-2022 | | | | | 2020 | | | | | | 46,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 29,704 | | | | | | 29,704 | | | | | | 26,77 | | | | | | 795 | | | | | | — | | | | | | 46,500 | | | | | | 16,796 | | | | | | — | | |
| | | | | | | | 2021 | | | | | | 67,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 67,500 | | | | | | — | | | | | | 67,500 | | |
| | | | | | | | 2022 | | | | | | — | | | | | | 56,400 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 56,400 | | | | | | — | | | | | | 56,400 | | |
| | | 2023-2025 | | | | | 2023 | | | | | | — | | | | | | — | | | | | | 69,925 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 69,925 | | |
| | |
2022
|
| |||
| | |
(Thousands of EUR)
|
| |||
Chairman | | | | | | | |
Fixed remuneration
|
| | | | 1,500 | | |
Variable remuneration
|
| | | | 2,609 | | |
Plans linked to shares
|
| | | | 883 | | |
Other(i) | | | | | 10 | | |
Total | | | | | 5,002 | | |
Chief Executive Officer | | | | | | | |
Fixed remuneration
|
| | | | 1,150 | | |
Variable remuneration
|
| | | | 1,538 | | |
Share plan linked to objectives
|
| | | | 183 | | |
Other(i) | | | | | 5 | | |
Total | | | | | 2,876 | | |
| | |
2023
(until June 30) |
| |
2022
|
| |
2021
|
| |
2020
|
| ||||||||||||
Number of shares at beginning of year
|
| | | | 1,782,127 | | | | | | 2,054,531 | | | | | | 2,468,724 | | | | | | 3,125,747 | | |
Plans granted
|
| | | | 653,611 | | | | | | 702,675 | | | | | | 909,578 | | | | | | 622,004 | | |
Plans settled
|
| | | | (277,493) | | | | | | (356,958) | | | | | | (292,413) | | | | | | (930,106) | | |
Shares surrendered and other
|
| | | | (177,854) | | | | | | (526,552) | | | | | | (954,346) | | | | | | (307,068) | | |
Shares exercised
|
| | | | (9,395) | | | | | | (91,569) | | | | | | (77,012) | | | | | | (41,853) | | |
Number of shares at year-end
|
| | | | 1,970,996 | | | | | | 1,782,127 | | | | | | 2,054,531 | | | | | | 2,468,724 | | |
Name of Beneficial Owner
|
| |
Number of
Ordinary Shares Beneficially Owned |
| |
Percentage of
Ordinary Shares Beneficially Owned |
| ||||||
5% or Greater Shareholders | | | | | | | | | | | | | |
Rafael del Pino(1)
|
| | | | 152,251,078 | | | | | | 20.73% | | |
María del Pino(2)
|
| | | | 61,160,900 | | | | | | 8.33% | | |
Lazard Asset Management LLC(3)
|
| | | | 43,186,418 | | | | | | 5.88% | | |
Executive Officers and Board Members | | | | | | | | | | | | | |
Rafael del Pino(1)
|
| | | | 152,251,078 | | | | | | 20.73% | | |
Óscar Fanjul
|
| | | | 46,069 | | | | | | * | | |
| | | | 88,464 | | | | | | * | | | |
María del Pino(2)
|
| | | | 61,160,900 | | | | | | 8.33% | | |
José Fernando Sánchez Junco
|
| | | | 182,871 | | | | | | * | | |
Philip Bowman
|
| | | | 32,760 | | | | | | * | | |
Hanne Sørensen
|
| | | | — | | | | | | — | | |
Bruno Di Leo
|
| | | | — | | | | | | — | | |
Juan Hoyos
|
| | | | 5,931 | | | | | | * | | |
Gonzalo Urquijo
|
| | | | 215 | | | | | | * | | |
Name of Beneficial Owner
|
| |
Number of
Ordinary Shares Beneficially Owned |
| |
Percentage of
Ordinary Shares Beneficially Owned |
| ||||||
Hildegard Wortmann
|
| | | | — | | | | | | — | | |
Alicia Reyes
|
| | | | — | | | | | | — | | |
| | | | 202,178 | | | | | | * | | | |
Ignacio Gastón
|
| | | | 55,890 | | | | | | * | | |
Luke Bugeja
|
| | | | — | | | | | | — | | |
Gonzalo Nieto
|
| | | | 13,463 | | | | | | * | | |
Andrés Sacristán
|
| | | | 23,066 | | | | | | * | | |
As of December 31
|
| |||||||||||||||||||||
(Thousands of EUR)
|
| |||||||||||||||||||||
| | | | | |
2020
|
| |||||||||||||||
Company Name
|
| |
Transactions
|
| |
Amount
|
| |
Profit or loss
|
| |
Balance
|
| |||||||||
Marsh
|
| |
Receipt of insurance services
|
| | | | (7) | | | | | | 0 | | | | | | 0 | | |
| | | | | |
Year ended December 31,
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | |
2021
|
| |
2020
|
| ||||||||||||||||||||||||||||||||||||||||||||||
| | | | | |
(Thousands of EUR)
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||
Name/Company Name
|
| |
Transactions
|
| |
Amount
|
| |
Profit or
loss |
| |
Balance
|
| |
Amount
|
| |
Profit or
loss |
| |
Balance
|
| |
Amount
|
| |
Profit or
loss |
| |
Balance
|
| |||||||||||||||||||||||||||
Rafael del Pino y Calvo-Sotelo
|
| | Services rendered | | | | | 2 | | | | | | — | | | | | | — | | | | | | 7 | | | | | | — | | | | | | 1 | | | | | | 7 | | | | | | — | | | | | | 1 | | |
María del Pino y Calvo-Sotelo
|
| | Services rendered | | | | | 5 | | | | | | 1 | | | | | | — | | | | | | 6 | | | | | | 1 | | | | | | — | | | | | | 8 | | | | | | 1 | | | | | | — | | |
Mrs. Ana María Calvo-Sotelo y
Bustelo |
| | Services rendered | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 45 | | | | | | 2 | | | | | | 4 | | |
Criu, S.L.
|
| | Services rendered | | | | | 1 | | | | | | — | | | | | | — | | | | | | 17 | | | | | | 1 | | | | | | 2 | | | | | | 19 | | | | | | 1 | | | | | | 2 | | |
Cummins and group companies
|
| | Services received | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (1,129) | | | | | | — | | | | | | — | | |
Centro de Innovación de
Infraestructuras Inteligentes Foundation |
| | Collaboration agreements | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (800) | | | | | | — | | | | | | — | | |
| | | Services rendered | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 18 | | | | | | — | | | | | | — | | |
Haya Real Estate, S.A.
|
| | Services rendered | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1 | | |
Holcim Ltd. and group
companies |
| |
Purchase of cement and
related materials |
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (1,724) | | | | | | — | | | | | | (53) | | |
| | | Waste collection | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 52 | | | | | | 1 | | | | | | 18 | | |
Maxam Holding and Group
Companies |
| |
Services rendered
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1 | | | | | | — | | | | | | — | | |
Marsh Group Companies
|
| |
Receipt of insurance services
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (6,877) | | | | | | — | | | | | | 13 | | |
Polan, S.A.
|
| | Services received | | | | | (12) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | Services rendered | | | | | 17 | | | | | | 1 | | | | | | — | | | | | | 159 | | | | | | 1 | | | | | | 59 | | | | | | 152 | | | | | | 2 | | | | | | 42 | | |
Sidecu, S.A.
|
| | Services rendered | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1 | | | | | | — | | | | | | — | | |
Ferrovial Scrip Dividend history
|
| |
2022
|
| |
2021
|
| |
2020
|
| |||||||||
|
November
|
| |
May
|
| |
November
|
| |
May
|
| |
November
|
| |
June
|
| ||
Guaranteed set price to purchase rights
|
| |
0.414
|
| |
0.278
|
| |
0.305
|
| |
0.197
|
| |
0.2
|
| |
0.312
|
|
Rights per ordinary share
|
| |
56
|
| |
87
|
| |
87
|
| |
120
|
| |
100
|
| |
71
|
|
% Ferrovial shareholders who chose ordinary shares as dividends
|
| |
92.0%
|
| |
47.1%
|
| |
91.2%
|
| |
91.9%
|
| |
81.1%
|
| |
59.3%
|
|
% Ferrovial shareholders who chose cash as dividends
|
| |
8.0%
|
| |
52.9%
|
| |
8.8%
|
| |
8.0%
|
| |
18.9%
|
| |
40.8%
|
|
Number of new ordinary shares issued
|
| |
12,116,333
|
| |
3,968,559
|
| |
7,743,557
|
| |
5,615,714
|
| |
6,012,605
|
| |
6,134,989
|
|
Number of rights purchased
|
| |
59,056,364
|
| |
388,337,800
|
| |
64,828,548
|
| |
59,016,522
|
| |
140,089,808
|
| |
299,631,164
|
|
Ferrovial share buy-back and amortization history
|
| |
Six Months Ended June 30,
|
| |
Year Ended December 31,
|
| |||||||||
| | |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| |||
Number of Ferrovial Shares acquired by Ferrovial
|
| |
0
|
| |
7,856,823
|
| |
15,743,329
|
| |
12,659,166
|
| |
11,704,701
|
|
Percentage of share capital at the end of the program
|
| |
n/a
|
| |
n/a
|
| |
2.1%
|
| |
1.7%
|
| |
1.6%
|
|
Exhibit No.
|
| |
Description
|
|
1.1* | | | | |
4.1* | | | | |
4.2+* | | | | |
8.1* | | | | |
15.1* | | | |
|
Dated:
|
| |
Ferrovial SE
By:
Name: Ignacio Madridejos
Title: Chief Executive Officer
|
|
| | | |
By:
Name: Ernesto López Mozo
Title: Chief Financial Officer
|
|
| | | | | F-32 | | | |
| | | | | F-35 | | | |
| | | | | F-37 | | | |
| Consolidated Statements of Comprehensive Income for the years ended December 31, 2022, 2021 and 2020 | | | | | F-38 | | |
|
Consolidated Statements of Changes in Equity for the years ended December 31, 2022, 2021
and 2020 |
| | | | F-39 | | |
| | | | | F-40 | | | |
|
Notes to Consolidated Financial Statements for the years ended December 31, 2022, 2021 and
2020 |
| | | | F-41 | | |
|
(Million euro)
|
| |
NOTE
|
| |
06.30.2023
|
| |
12.31.2022
|
|
| Non-current assets | | | | | |
18,393
|
| |
18,925
|
|
| Goodwill | | |
5.2
|
| |
477
|
| |
480
|
|
| Intangible assets | | | | | |
138
|
| |
138
|
|
| Fixed assets in infrastructure projects | | | | | |
13,270
|
| |
13,667
|
|
|
Intangible asset model
|
| |
5.3
|
| |
13,106
|
| |
13,504
|
|
|
Financial asset model
|
| | | | |
164
|
| |
163
|
|
| Property, plant and equipment | | | | | |
533
|
| |
479
|
|
| Right-of-use | | | | | |
154
|
| |
183
|
|
| Investments in associates | | |
5.4
|
| |
2,049
|
| |
1,951
|
|
| Non-current financial assets | | |
8
|
| |
815
|
| |
1,095
|
|
|
Loans granted to associates
|
| | | | |
239
|
| |
246
|
|
|
Non-current restricted cash
|
| |
7
|
| |
317
|
| |
597
|
|
|
Other non-current receivables
|
| | | | |
259
|
| |
252
|
|
| Deferred taxes assets | | |
5.7
|
| |
798
|
| |
784
|
|
| Long-term financial derivatives at fair value | | |
8.2
|
| |
159
|
| |
148
|
|
| Current assets | | | | | |
7,305
|
| |
7,411
|
|
| Inventories | | | | | |
476
|
| |
476
|
|
| Current income tax assets | | | | | |
47
|
| |
19
|
|
| Short-term trade and other receivables | | |
5.5
|
| |
1,769
|
| |
1,600
|
|
|
Trade receivables for sales and services
|
| | | | |
1,439
|
| |
1,300
|
|
|
Other short-term receivables
|
| | | | |
330
|
| |
300
|
|
| Cash and cash equivalents | | |
7
|
| |
4,685
|
| |
5,130
|
|
|
Infrastructure project companies
|
| | | | |
159
|
| |
168
|
|
|
Restricted cash
|
| | | | |
29
|
| |
38
|
|
|
Other cash and cash equivalents
|
| | | | |
130
|
| |
130
|
|
|
Ex-infrastructure project companies
|
| | | | |
4,526
|
| |
4,962
|
|
| Short term financial derivatives at fair value | | |
8.2
|
| |
36
|
| |
184
|
|
| Assets held for sale | | |
1.3
|
| |
292
|
| |
2
|
|
| TOTAL ASSETS | | | | | |
25,698
|
| |
26,336
|
|
|
(Million euro)
|
| |
NOTE
|
| |
06.30.2023
|
| |
12.31.2022
|
|
| Equity | | |
6
|
| |
5,856
|
| |
6,473
|
|
| Equity attributable to shareholders | | | | | |
3,809
|
| |
4,233
|
|
| Equity attributable to non-controlling interests | | | | | |
2,047
|
| |
2,240
|
|
| Non-current liabilities | | | | | |
14,061
|
| |
14,486
|
|
| Deferred income | | | | | |
1,379
|
| |
1,410
|
|
| Employee benefit plans | | | | | |
2
|
| |
2
|
|
| Long-term provisions | | |
5.6
|
| |
283
|
| |
290
|
|
| Long-term lease liabilities | | | | | |
70
|
| |
120
|
|
| Borrowings | | |
7
|
| |
10,436
|
| |
10,776
|
|
|
Debentures and borrowings of infrastructure project companies
|
| | | | |
7,546
|
| |
7,893
|
|
|
Debentures and borrowings of ex-infrastructure project companies
|
| | | | |
2,890
|
| |
2,883
|
|
| Other payables | | | | | |
918
|
| |
898
|
|
| Deferred taxes | | |
5.7
|
| |
903
|
| |
924
|
|
| Long-term financial derivatives at fair value | | |
8.2
|
| |
70
|
| |
66
|
|
| Current liabilities | | | | | |
5,781
|
| |
5,377
|
|
| Short-term lease liabilities | | | | | |
84
|
| |
64
|
|
| Borrowings | | |
7
|
| |
852
|
| |
877
|
|
|
Debentures and borrowings of infrastructure project companies
|
| | | | |
52
|
| |
74
|
|
|
Bank borrowings of ex-infrastructure project companies
|
| | | | |
800
|
| |
803
|
|
| Financial derivatives at fair value | | |
8.2
|
| |
39
|
| |
47
|
|
| Current income tax liabilities | | | | | |
35
|
| |
30
|
|
| Short-term trade and other payables | | |
5.5
|
| |
3,533
|
| |
3,429
|
|
|
Trade payables
|
| | | | |
1,819
|
| |
1,663
|
|
|
Advance payments from customers and work certified in advance
|
| | | | |
1,405
|
| |
1,364
|
|
|
Other short-term payables
|
| | | | |
309
|
| |
402
|
|
| Short-term provisions | | |
5.6
|
| |
933
|
| |
930
|
|
| Liabilities held for sale | | |
1.3
|
| |
305
|
| |
—
|
|
| TOTAL LIABILITIES AND EQUITY | | | | | |
25,698
|
| |
26,336
|
|
|
Income statement (million euro)
|
| |
Note
|
| | | | |
06.30.2023
|
| |
06.30.2022
|
|
| Revenues | | |
4
|
| | | | |
3,940
|
| |
3,534
|
|
| Other operating income | | | | | | | | |
1
|
| |
1
|
|
| Revenues and other operating income | | | | | | | | |
3,941
|
| |
3,535
|
|
| Materials consumed | | | | | | | | |
497
|
| |
581
|
|
| Other operating expenses | | | | | | | | |
2,265
|
| |
1,925
|
|
| Personnel expenses | | |
11
|
| | | | |
778
|
| |
716
|
|
| Total operating expenses | | | | | | | | |
3,540
|
| |
3,222
|
|
| Fixed asset depreciation | | | | | | | | |
201
|
| |
143
|
|
| Impairment and disposal of fixed assets | | |
9.1
|
| | | | |
—
|
| |
—
|
|
| Operating profit/(loss) | | | | | | | | |
200
|
| |
170
|
|
| Net financial income/(expense) from financing | | | | | | | | |
(153)
|
| |
(109)
|
|
| Profit/(loss) on derivatives and other net financial income/(expense) | | | | | | | | |
(12)
|
| |
(66)
|
|
| Net financial income/(expense) from infrastructure projects | | | | | | | | |
(165)
|
| |
(175)
|
|
| Net financial income/(expense) from financing | | | | | | | | |
50
|
| |
11
|
|
| Profit/(loss) on derivatives and other net financial income/(expense) | | | | | | | | |
15
|
| |
46
|
|
| Net financial income/(expense) from ex-infrastructure projects | | | | | | | | |
65
|
| |
57
|
|
| Net financial income/(expense) | | |
9.2
|
| | | | |
(100)
|
| |
(118)
|
|
| Share of profits of equity-accounted companies | | |
5.4
|
| | | | |
83
|
| |
55
|
|
| Profit/(loss) before tax from continuing operations | | | | | | | | |
183
|
| |
107
|
|
| Income tax / (expense) | | |
9.3
|
| | | | |
(20)
|
| |
(21)
|
|
| Profit/(loss) net of tax from continuing operations | | | | | | | | |
163
|
| |
86
|
|
| Profit/(loss) net of tax from discontinued operations | | |
9.4
|
| | | | |
6
|
| |
(5)
|
|
| Net profit/(loss) | | | | | | | | |
169
|
| |
81
|
|
| Net profit/(loss) for the period attributed to non-controlling interests | | | | | | | | |
(54)
|
| |
(28)
|
|
| Net profit/(loss) for the period attributed to the parent company | | | | | | | | |
115
|
| |
53
|
|
| Net earnings per share attributed to the parent company (in euros) | | | | | |
Diluted
|
| |
0.15
|
| |
0.07
|
|
| | | | | | |
Basic
|
| |
0.15
|
| |
0.07
|
|
| Net earnings per share attributed to the parent company Continuing Operations (in euros) | | | | | |
Diluted
|
| |
0.14
|
| |
0.07
|
|
| | | | | | |
Basic
|
| |
0.14
|
| |
0.07
|
|
|
(Million euro)
|
| |
Note
|
| |
06.30.2023
|
| |
06.30.2022
|
|
| a) Net profit/(loss) | | | | | |
169
|
| |
81
|
|
|
Attributed to the parent company
|
| | | | |
115
|
| |
53
|
|
|
Attributed to non-controlling interests
|
| | | | |
54
|
| |
28
|
|
| b) Income and expenses recognized directly in equity | | |
6
|
| |
(22)
|
| |
463
|
|
|
Fully-consolidated companies
|
| | | | |
(24)
|
| |
317
|
|
|
Impact on hedge reserves
|
| |
8
|
| |
17
|
| |
174
|
|
|
Impact on defined benefit plan reserves
|
| | | | |
—
|
| |
—
|
|
|
Currency translation differences
|
| | | | |
(46)
|
| |
183
|
|
|
Tax effect
|
| | | | |
5
|
| |
(40)
|
|
|
Companies classified as held for sale
|
| | | | |
—
|
| |
(7)
|
|
|
Impact on hedge reserves
|
| | | | |
—
|
| |
—
|
|
|
Impact on defined benefit plan reserves
|
| | | | |
—
|
| |
—
|
|
|
Currency translation differences
|
| | | | |
—
|
| |
(7)
|
|
|
Tax effect
|
| | | | |
—
|
| |
—
|
|
|
Equity-accounted companies
|
| | | | |
2
|
| |
153
|
|
|
Impact on hedge reserves
|
| | | | |
9
|
| |
80
|
|
|
Impact on defined benefit plan reserves
|
| | | | |
—
|
| |
—
|
|
|
Currency translation differences
|
| | | | |
(3)
|
| |
91
|
|
|
Tax effect
|
| | | | |
(4)
|
| |
(18)
|
|
| c) Transfers to income statement | | |
6
|
| |
—
|
| |
(40)
|
|
|
Fully-consolidated companies
|
| | | | |
—
|
| |
(47)
|
|
|
Transfers to income statement
|
| | | | |
—
|
| |
(62)
|
|
|
Tax effect
|
| | | | |
—
|
| |
15
|
|
|
Companies held for sale
|
| | | | |
—
|
| |
7
|
|
|
Transfers to income statement
|
| | | | |
—
|
| |
9
|
|
|
Tax effect
|
| | | | |
—
|
| |
(2)
|
|
|
Equity-accounted companies
|
| | | | |
—
|
| |
—
|
|
|
Transfers to income statement
|
| | | | |
—
|
| |
—
|
|
|
Tax effect
|
| | | | |
—
|
| |
—
|
|
| a+b+c TOTAL COMPREHENSIVE INCOME | | | | | |
147
|
| |
504
|
|
|
Attributed to the parent company
|
| | | | |
118
|
| |
364
|
|
|
Attributed to non-controlling interests
|
| | | | |
29
|
| |
140
|
|
|
(Million euro)
|
| |
Share
capital |
| |
Share
premium |
| |
Treasury
shares |
| |
Other equity
instruments |
| |
Measurement
adjustments |
| |
Retained
earnings and other reserves |
| |
Attributed to
shareholders |
| |
Attributed to
non- controlling interests |
| |
Total
equity |
|
| Balance at 12.31.22 | | |
145
|
| |
—
|
| |
(26)
|
| |
508
|
| |
(778)
|
| |
4,384
|
| |
4,233
|
| |
2,240
|
| |
6,473
|
|
| Merger impact | | |
(138)
|
| |
4,400
|
| |
—
|
| |
—
|
| |
(10)
|
| |
(4,252)
|
| |
—
|
| |
—
|
| |
—
|
|
| Balance at 01.01.23 | | |
7
|
| |
4,400
|
| |
(26)
|
| |
508
|
| |
(788)
|
| |
131
|
| |
4,233
|
| |
2,240
|
| |
6,473
|
|
| Consolidated profit/(loss) for the period | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
115
|
| |
115
|
| |
54
|
| |
169
|
|
| Income and expenses recognized directly in equity | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
3
|
| |
—
|
| |
3
|
| |
(25)
|
| |
(22)
|
|
| Transfers to the income statement | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
| Total income and expenses recognized for the period | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
3
|
| |
115
|
| |
118
|
| |
29
|
| |
147
|
|
| Scrip dividend agreement | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
| Other dividends | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
(295)
|
| |
(295)
|
|
| Treasury share transactions | | |
—
|
| |
(52)
|
| |
(52)
|
| |
—
|
| |
—
|
| |
52
|
| |
(52)
|
| |
—
|
| |
(52)
|
|
| Shareholder remuneration | | |
—
|
| |
(52)
|
| |
(52)
|
| |
—
|
| |
—
|
| |
52
|
| |
(52)
|
| |
(295)
|
| |
(347)
|
|
| Share capital increases/reductions | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
71
|
| |
71
|
|
| Share-based remuneration schemes | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
7
|
| |
7
|
| |
—
|
| |
7
|
|
| Other movements | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
14
|
| |
14
|
| |
2
|
| |
16
|
|
| Other transactions | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
21
|
| |
21
|
| |
73
|
| |
94
|
|
| Perpetual subordinated bond issues | | |
—
|
| |
—
|
| |
—
|
| |
(508)
|
| |
—
|
| |
(3)
|
| |
(511)
|
| |
—
|
| |
(511)
|
|
| Scope changes | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
| Balance at 06.30.2023 | | |
7
|
| |
4,348
|
| |
(78)
|
| |
—
|
| |
(785)
|
| |
317
|
| |
3,809
|
| |
2,047
|
| |
5,856
|
|
|
(Million euro)
|
| |
Share
capital |
| |
Share
premium |
| |
Treasury
shares |
| |
Other equity
instruments |
| |
Measurement
adjustments |
| |
Retained
earnings and other reserves |
| |
Attributed to
shareholders |
| |
Attributed to
non- controlling interests |
| |
Total
equity |
|
| Balance at 12.31.21 | | |
147
|
| |
218
|
| |
(124)
|
| |
507
|
| |
(1,299)
|
| |
4,707
|
| |
4,156
|
| |
1,790
|
| |
5,946
|
|
| Consolidated profit/(loss) for the period | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
53
|
| |
53
|
| |
28
|
| |
81
|
|
| Income and expenses recognized directly in equity | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
351
|
| |
—
|
| |
351
|
| |
112
|
| |
463
|
|
| Transfers to the income statement | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
(40)
|
| |
—
|
| |
(40)
|
| |
—
|
| |
(40)
|
|
| Total income and expenses recognized for the period | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
311
|
| |
53
|
| |
364
|
| |
140
|
| |
504
|
|
| Scrip dividend agreement | | |
1
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
(109)
|
| |
(108)
|
| |
—
|
| |
(108)
|
|
| Other dividends | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
(119)
|
| |
(119)
|
|
| Treasury share transactions | | |
—
|
| |
(218)
|
| |
(248)
|
| |
—
|
| |
—
|
| |
218
|
| |
(248)
|
| |
—
|
| |
(248)
|
|
| Shareholder remuneration | | |
1
|
| |
(218)
|
| |
(248)
|
| |
—
|
| |
—
|
| |
109
|
| |
(356)
|
| |
(119)
|
| |
(475)
|
|
| Share capital increases/reductions | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
151
|
| |
151
|
|
| Share-based remuneration schemes | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
(1)
|
| |
(1)
|
| |
—
|
| |
(1)
|
|
| Other movements | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
3
|
| |
3
|
| |
—
|
| |
3
|
|
| Other transactions | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
2
|
| |
2
|
| |
151
|
| |
153
|
|
| Perpetual subordinated bond issues | | |
—
|
| |
—
|
| |
—
|
| |
(6)
|
| |
—
|
| |
(3)
|
| |
(9)
|
| |
—
|
| |
(9)
|
|
| Scope changes | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
(1)
|
| |
(1)
|
|
| Balance at 06.30.2022 | | |
148
|
| |
—
|
| |
(372)
|
| |
501
|
| |
(988)
|
| |
4,868
|
| |
4,157
|
| |
1,961
|
| |
6,118
|
|
|
(Million euro)
|
| |
NOTE
|
| |
2023
|
| |
2022
|
|
| Net profit/(loss) attributable to the parent company | | | | | |
115
|
| |
53
|
|
| Adjustments to profit/(loss) | | | | | |
286
|
| |
326
|
|
|
Net profit/(loss) for the period attributed to non-controlling interests
|
| | | | |
55
|
| |
28
|
|
|
Profit (loss) net of tax from discontinued operations
|
| | | | |
(6)
|
| |
5
|
|
|
Income tax / (expense)
|
| | | | |
19
|
| |
21
|
|
|
Share of profits of equity-accounted companies
|
| | | | |
(83)
|
| |
(54)
|
|
|
Net financial income/(expense)
|
| | | | |
100
|
| |
118
|
|
|
Impairment and disposal of fixed assets
|
| | | | |
—
|
| |
—
|
|
|
Fixed asset depreciation
|
| | | | |
201
|
| |
143
|
|
|
Operating profit/(loss) Discontinued Operations ex - depreciation/amortization & impairment
|
| | | | |
—
|
| |
65
|
|
| Tax payments | | | | | |
(66)
|
| |
(34)
|
|
| Change in working capital (receivables, payables and other) | | |
5.5
|
| |
(108)
|
| |
(218)
|
|
| Dividends received from equity accounted infrastructure project companies | | |
5.4
|
| |
55
|
| |
12
|
|
| Cash flows from operating activities | | | | | |
282
|
| |
139
|
|
| Investments in property, plant and equipment/intangible assets | | | | | |
(44)
|
| |
(34)
|
|
| Investments in infrastructure projects | | |
5.3
|
| |
(138)
|
| |
(295)
|
|
| Loans granted to associates/acquisition of companies | | | | | |
(77)
|
| |
(56)
|
|
| Interest received | | |
9.2
|
| |
119
|
| |
16
|
|
| Investment of long-term restricted cash | | | | | |
271
|
| |
26
|
|
| Divestment of infrastructure projects | | | | | |
—
|
| |
—
|
|
| Divestment/sale of companies | | |
1.2
|
| |
(7)
|
| |
180
|
|
| Cash flows from (used in) investing activities | | | | | |
124
|
| |
(163)
|
|
| Financing activities | | | | | |
|
| | | |
| Capital cash flows from non-controlling interests | | |
6
|
| |
83
|
| |
114
|
|
|
Scrip dividend
|
| | | | |
—
|
| |
(108)
|
|
|
Treasury shares purchases
|
| | | | |
(52)
|
| |
(248)
|
|
| Shareholder remuneration | | |
6
|
| |
(52)
|
| |
(356)
|
|
| Dividends paid to non-controlling interests of investees | | |
6
|
| |
(292)
|
| |
(115)
|
|
| Other movements in shareholder’s funds | | |
6
|
| |
(515)
|
| |
3
|
|
| Interest paid | | |
9.2
|
| |
(213)
|
| |
(156)
|
|
| Lease payments | | | | | |
(39)
|
| |
(49)
|
|
| Increase in borrowings | | | | | |
127
|
| |
228
|
|
| Decrease in borrowings | | | | | |
(81)
|
| |
(36)
|
|
| Net change in borrowings from discontinued operations | | | | | |
—
|
| |
(22)
|
|
| Cash flows from (used in) financing activities | | | | | |
(982)
|
| |
(389)
|
|
| Effect of exchange rates on cash and cash equivalents | | | | | |
164
|
| |
13
|
|
| Changes in cash and cash equivalents from assets held for sale | | |
7
|
| |
(33)
|
| |
(55)
|
|
| Change in cash and cash equivalents | | |
7
|
| |
(445)
|
| |
(455)
|
|
| Cash and cash equivalents at beginning of period | | | | | |
5,130
|
| |
5,536
|
|
| Cash and cash equivalents at end of period | | | | | |
4,685
|
| |
5,081
|
|
|
(Million euro)
|
| |
JUN. 2023
|
|
| Non-current assets | | |
253
|
|
| Fixed assets in infrastructure projects | | |
249
|
|
| Deferred taxes | | |
4
|
|
| Current assets | | |
39
|
|
| Short-term trade and other receivables | | |
7
|
|
| Cash and cash equivalents | | |
25
|
|
| Other current assets | | |
7
|
|
| TOTAL assets classified as held for sale | | |
292
|
|
|
(Million euro)
|
| |
JUN. 2023
|
|
| Non-current liabilities | | |
280
|
|
| Long-term provisions | | |
8
|
|
| Bank borrowings | | |
265
|
|
| Financial derivatives at fair value | | |
7
|
|
| Current liabilities | | |
25
|
|
| Bank borrowings | | |
20
|
|
| Short-term trade and other payables | | |
1
|
|
| Financial derivatives at fair value | | |
3
|
|
| TOTAL liabilities classified as held for sale | | |
305
|
|
|
(Million euro)
|
| |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy and
mobility infrastructures |
| |
Other
|
| |
Adjustments
|
| |
June 2023
|
|
| Revenues | | |
3,258
|
| |
492
|
| |
28
|
| |
175
|
| |
95
|
| |
(108)
|
| |
3,940
|
|
| Total operating expenses | | |
3,197
|
| |
132
|
| |
30
|
| |
169
|
| |
120
|
| |
(108)
|
| |
3,540
|
|
| Fixed asset depreciation | | |
66
|
| |
116
|
| |
6
|
| |
10
|
| |
3
|
| |
-
|
| |
201
|
|
| Impairment and disposal of fixed assets | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Operating profit/(loss) | | |
(4)
|
| |
244
|
| |
(8)
|
| |
(4)
|
| |
(28)
|
| |
-
|
| |
200
|
|
| Profit/(loss) on derivatives and other net financial income/(expense) | | |
(17)
|
| |
(1)
|
| |
7
|
| |
5
|
| |
9
|
| |
-
|
| |
3
|
|
| Net financial income/(expense) from financing | | |
51
|
| |
(108)
|
| |
1
|
| |
(3)
|
| |
(44)
|
| |
-
|
| |
(103)
|
|
| Net financial income/(expense) | | |
34
|
| |
(109)
|
| |
8
|
| |
2
|
| |
(35)
|
| |
-
|
| |
(100)
|
|
| Share of profits of equity-accounted companies | | |
1
|
| |
74
|
| |
5
|
| |
3
|
| |
-
|
| |
-
|
| |
83
|
|
|
Profit/(loss) before tax from continuing operations
|
| |
31
|
| |
209
|
| |
5
|
| |
1
|
| |
(63)
|
| |
-
|
| |
183
|
|
| Income tax/(expense) | | |
(14)
|
| |
(4)
|
| |
-
|
| |
-
|
| |
(2)
|
| |
-
|
| |
(20)
|
|
|
Profit/(loss) net of tax from continuing operations
|
| |
17
|
| |
205
|
| |
5
|
| |
1
|
| |
(65)
|
| |
-
|
| |
163
|
|
| Profit/(loss) net of tax from discontinued operations | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
6
|
| |
-
|
| |
6
|
|
| Net profit/(loss) | | |
17
|
| |
205
|
| |
5
|
| |
1
|
| |
(59)
|
| |
-
|
| |
169
|
|
| Net profit/(loss) for the period attributed to non-controlling interests | | |
(4)
|
| |
(50)
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(54)
|
|
| Net profit/(loss) for the period attributed to the parent company | | |
13
|
| |
155
|
| |
5
|
| |
1
|
| |
(59)
|
| |
-
|
| |
115
|
|
|
(Million euro)
|
| |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy and
mobility infrastructures |
| |
Other
|
| |
Adjustments
|
| |
June 2022
|
|
| Revenues | | |
3,053
|
| |
355
|
| |
7
|
| |
139
|
| |
84
|
| |
(104)
|
| |
3,534
|
|
| Total operating expenses | | |
2,976
|
| |
99
|
| |
26
|
| |
135
|
| |
89
|
| |
(103)
|
| |
3,222
|
|
| Fixed asset depreciation | | |
52
|
| |
82
|
| |
-
|
| |
6
|
| |
3
|
| |
-
|
| |
143
|
|
| Impairment and disposal of fixed assets | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Operating profit/(loss) | | |
26
|
| |
174
|
| |
(19)
|
| |
(1)
|
| |
(9)
|
| |
(1)
|
| |
170
|
|
| Profit/(loss) on derivatives and other net financial income/(expense) | | |
(13)
|
| |
(67)
|
| |
5
|
| |
1
|
| |
55
|
| |
(1)
|
| |
(20)
|
|
| Net financial income/(expense) from financing | | |
10
|
| |
(96)
|
| |
-
|
| |
(4)
|
| |
(8)
|
| |
-
|
| |
(98)
|
|
| Net financial income/(expense) | | |
(3)
|
| |
(163)
|
| |
5
|
| |
(3)
|
| |
47
|
| |
(1)
|
| |
(118)
|
|
| Share of profits of equity-accounted companies | | |
-
|
| |
50
|
| |
3
|
| |
(1)
|
| |
-
|
| |
3
|
| |
55
|
|
|
Profit/(loss) before tax from continuing operations
|
| |
23
|
| |
61
|
| |
(11)
|
| |
(5)
|
| |
38
|
| |
1
|
| |
107
|
|
| Income tax/(expense) | | |
(12)
|
| |
(15)
|
| |
(1)
|
| |
-
|
| |
7
|
| |
-
|
| |
(21)
|
|
|
Profit/(loss) net of tax from continuing operations
|
| |
11
|
| |
46
|
| |
(12)
|
| |
(5)
|
| |
45
|
| |
1
|
| |
86
|
|
| Profit/(loss) net of tax from discontinued operations | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(5)
|
| |
-
|
| |
(5)
|
|
| Net profit/(loss) | | |
11
|
| |
46
|
| |
(12)
|
| |
(5)
|
| |
40
|
| |
1
|
| |
81
|
|
| Net profit/(loss) for the period attributed to non-controlling interests | | |
(3)
|
| |
(25)
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(28)
|
|
| Net profit/(loss) for the period attributed to the parent company | | |
8
|
| |
21
|
| |
(12)
|
| |
(5)
|
| |
40
|
| |
1
|
| |
53
|
|
|
AVERAGE EXCHANGE RATE
|
| |
06.30.2023
|
| |
06.30.2022
|
| |
Change 23/22 (*)
|
|
| Pound sterling | | |
0.876
|
| |
0.844
|
| |
3.78%
|
|
| US dollar | | |
1.081
|
| |
1.088
|
| |
(0.64)%
|
|
| Canadian dollar | | |
1.456
|
| |
1.381
|
| |
5.42%
|
|
| Australian dollar | | |
1.600
|
| |
1.519
|
| |
5.32%
|
|
| Polish zloty | | |
4.625
|
| |
4.651
|
| |
(0.58)%
|
|
| Chilean peso | | |
871.458
|
| |
902.318
|
| |
(3.42)%
|
|
|
CLOSING EXCHANGE RATE
|
| |
06.30.2023
|
| |
12.31.2022
|
| |
Change 23/22 (*)
|
|
| Pound sterling | | |
0.859
|
| |
0.885
|
| |
(2.94)%
|
|
| US dollar | | |
1.091
|
| |
1.071
|
| |
1.91%
|
|
| Canadian dollar | | |
1.445
|
| |
1.451
|
| |
(0.39)%
|
|
| Australian dollar | | |
1.638
|
| |
1.572
|
| |
4.20%
|
|
| Polish zloty | | |
4.433
|
| |
4.685
|
| |
(5.39)%
|
|
| Chilean peso | | |
874.660
|
| |
908.160
|
| |
(3.69)%
|
|
|
(Million euro)
|
| |
BALANCES
AT 12.31.2022 |
| |
ADDITIONS
|
| |
OTHER
|
| |
EXCHANGE
RATE |
| |
BALANCES
AT 06.30.2023 |
|
| Construction | | |
132
|
| |
2
|
| |
-
|
| |
3
|
| |
136
|
|
| Budimex | | |
65
|
| |
2
|
| |
-
|
| |
4
|
| |
70
|
|
| Webber | | |
67
|
| |
-
|
| |
-
|
| |
(1)
|
| |
66
|
|
| Toll roads | | |
265
|
| |
-
|
| |
(2)
|
| |
(5)
|
| |
258
|
|
| I-66 Express Mobility Partners Hold. LLC | | |
265
|
| |
-
|
| |
(2)
|
| |
(5)
|
| |
258
|
|
| Airports | | |
27
|
| |
-
|
| |
-
|
| |
-
|
| |
27
|
|
| Dalaman | | |
27
|
| |
-
|
| |
-
|
| |
-
|
| |
27
|
|
| Energy and Mobility | | |
56
|
| |
-
|
| |
-
|
| |
-
|
| |
55
|
|
| TransChile | | |
56
|
| |
-
|
| |
-
|
| |
-
|
| |
55
|
|
| TOTAL | | |
480
|
| |
2
|
| |
(2)
|
| |
(3)
|
| |
477
|
|
|
(Million euro)
|
| |
BALANCE AT
01.01.23 |
| |
TOTAL
ADDITIONS |
| |
FOREIGN
EXCHANGE EFFECT |
| |
OTHER
|
| |
BALANCE AT
06.30.23 |
|
| Spanish toll roads | | |
714
|
| | | | | | | |
-
|
| |
714
|
|
| US toll roads | | |
12,547
|
| |
187
|
| |
(236)
|
| | | | |
12,498
|
|
| Other toll roads | | |
391
|
| |
-
|
| |
-
|
| |
(387)
|
| |
4
|
|
| Toll road investment | | |
13,653
|
| |
187
|
| |
(236)
|
| |
(387)
|
| |
13,216
|
|
| Accumulated depreciation | | |
(781)
|
| |
(99)
|
| |
9
|
| |
132
|
| |
(738)
|
|
| Net investment in toll roads | | |
12,872
|
| |
88
|
| |
(227)
|
| |
(254)
|
| |
12,478
|
|
| Investment in other infrastructure projects | | |
632
|
| |
(5)
|
| | | | | | | |
627
|
|
|
Total net investment in other infrastructure projects
|
| |
632
|
| |
(5)
|
| |
-
|
| |
-
|
| |
627
|
|
| TOTAL INVESTMENT | | |
14,285
|
| |
182
|
| |
(236)
|
| |
(387)
|
| |
13,844
|
|
| TOTAL DEPRECIATION AND PROVISION | | |
(781)
|
| |
(99)
|
| |
9
|
| |
132
|
| |
(738)
|
|
| TOTAL NET INVESTMENT | | |
13,504
|
| |
83
|
| |
(227)
|
| |
(254)
|
| |
13,106
|
|
|
(Million euro)
|
| |
HAH
|
| |
407 ETR
|
| |
AGS
|
| |
IRB
|
| |
JFK NTO
|
| |
OTHER
|
| |
TOTAL
|
|
| Balance at 12.31.22 | | |
0
|
| |
1,063
|
| |
0
|
| |
377
|
| |
235
|
| |
276
|
| |
1,951
|
|
| Changes in share capital | | | | | |
0
|
| |
0
|
| |
5
|
| |
66
|
| |
0
|
| |
71
|
|
| Share of profit/(loss) | | |
0
|
| |
69
|
| |
0
|
| |
3
|
| |
2
|
| |
8
|
| |
83
|
|
| Dividends | | |
0
|
| |
(44)
|
| |
0
|
| |
0
|
| |
0
|
| |
(11)
|
| |
(55)
|
|
| Foreign exchange differences | | | | | |
4
|
| |
0
|
| |
(4)
|
| |
(5)
|
| |
9
|
| |
5
|
|
| Derivatives | | | | | |
0
|
| |
0
|
| |
0
|
| |
(4)
|
| |
10
|
| |
6
|
|
| Other | | |
0
|
| |
0
|
| |
0
|
| |
0
|
| |
0
|
| |
(11)
|
| |
(11)
|
|
| Balance at 06.30.23 | | |
0
|
| |
1,091
|
| |
0
|
| |
382
|
| |
294
|
| |
283
|
| |
2,049
|
|
|
2022 (Million euro)
|
| |
HAH (25%)
|
|
| Balance at 12.31.2022 without IAS 28 | | |
(197)
|
|
| Share of profit/(loss) | | |
21
|
|
| Derivatives | | |
23
|
|
| Pensions | | |
(8)
|
|
| Currency translation differences | | |
(5)
|
|
| Balance at 06.30.2023 without IAS 28 | | |
(165)
|
|
| Result not consolidated under IAS 28 | | |
175
|
|
| Other equity effects not consolidated under IAS 28 | | |
(11)
|
|
| Balance at 06.30.2023 | | |
-
|
|
|
2023 (Million euro)
|
| |
AGS (50%)
|
|
| Balance at 12.31.2022 without IAS 28 | | |
(58)
|
|
| Share of profit/(loss) | | |
(8)
|
|
| Derivatives | | |
(1)
|
|
| Other equity movements | | |
17
|
|
| Currency translation differences | | |
(1)
|
|
| Balance at 06.30.2023 without IAS 28 | | |
(51)
|
|
| Result not consolidated under IAS 28 | | |
76
|
|
| Other equity effects not consolidated under IAS 28 | | |
(25)
|
|
| Balance at 06.30.2023 | | |
-
|
|
|
(Million euro)
|
| |
12.31.2022
|
| |
Exchange rate
|
| |
Consolidation
scope changes |
| |
Other
|
| |
06.30.2023
|
|
| Total inventories | | |
476
|
| |
7
|
| |
-
|
| |
(7)
|
| |
476
|
|
| Trade receivables for sales and services | | |
894
|
| |
14
|
| |
(6)
|
| |
(76)
|
| |
826
|
|
| Completed work pending certification | | |
406
|
| |
12
|
| |
-
|
| |
195
|
| |
613
|
|
| Other receivables | | |
300
|
| |
5
|
| |
-
|
| |
25
|
| |
330
|
|
| Total short-term trade and other receivables | | |
1,600
|
| |
31
|
| |
(6)
|
| |
144
|
| |
1,769
|
|
| Trade payables | | |
(1,663)
|
| |
(19)
|
| |
(1)
|
| |
(136)
|
| |
(1,819)
|
|
| Progress billing for construction work | | |
(962)
|
| |
(1)
|
| |
-
|
| |
(42)
|
| |
(1,005)
|
|
| Advance payments from customers | | |
(402)
|
| |
(7)
|
| |
-
|
| |
9
|
| |
(400)
|
|
| Other short-term payables | | |
(402)
|
| |
(7)
|
| |
-
|
| |
99
|
| |
(310)
|
|
| Total short-term trade and other payables | | |
(3,429)
|
| |
(34)
|
| |
(1)
|
| |
(70)
|
| |
(3,534)
|
|
| TOTAL | | |
(1,353)
|
| |
4
|
| |
(7)
|
| |
67
|
| |
(1,289)
|
|
|
(Million euro)
|
| |
Long-term
provisions |
| |
Short-term
provisions |
| |
TOTAL
|
|
| Balance at December 31, 2022 | | |
290
|
| |
930
|
| |
1,220
|
|
| Impact of scope changes and other transfers | | |
(8)
|
| |
(4)
|
| |
(12)
|
|
| Impact of foreign exchange differences | | |
-
|
| |
36
|
| |
36
|
|
| Other movements during the year: | | |
2
|
| |
(29)
|
| |
(27)
|
|
|
Charges /reversals affecting EBIT (other operating expenses)
|
| |
5
|
| |
62
|
| |
67
|
|
|
Charges/reversals with an impact in other income or expense items
|
| |
14
|
| |
1
|
| |
15
|
|
| TOTAL impact of charges /reversals | | |
19
|
| |
63
|
| |
82
|
|
|
Amounts used with an impact on working capital
|
| |
(3)
|
| |
(85)
|
| |
(88)
|
|
|
Other amounts used
|
| |
(15)
|
| |
(7)
|
| |
(22)
|
|
| TOTAL impact of amounts used | | |
(19)
|
| |
(92)
|
| |
(111)
|
|
| Balance at June 30, 2023 | | |
283
|
| |
933
|
| |
1,216
|
|
|
Deferred taxes (million euro)
|
| |
12.31.2022
|
| |
Var.
|
| |
06.30.2023
|
|
| Assets | | |
784
|
| |
13
|
| |
798
|
|
| Tax-loss carryforwards | | |
349
|
| |
(5)
|
| |
344
|
|
| Derivatives | | |
86
|
| |
(2)
|
| |
84
|
|
| Other deferred tax assets | | |
349
|
| |
20
|
| |
370
|
|
| Liabilities | | |
924
|
| |
(21)
|
| |
903
|
|
| Derivatives | | |
64
|
| |
(6)
|
| |
58
|
|
| Other deferred tax liabilities | | |
860
|
| |
(16)
|
| |
845
|
|
|
(Million euro)
|
| |
Attributed to
shareholders |
| |
Attributed to non-
controlling interests |
| |
Total equity
|
|
| Equity at 01.01.2023 | | |
4,233
|
| |
2,240
|
| |
6,473
|
|
| Consolidated profit/(loss) for the period | | |
115
|
| |
54
|
| |
169
|
|
| Impact on hedging reserves | | |
26
|
| |
1
|
| |
27
|
|
| Impact on defined benefit plan reserves (*) | | |
-
|
| |
-
|
| |
-
|
|
| Currency translation differences | | |
(23)
|
| |
(26)
|
| |
(49)
|
|
| Income and expenses recognized directly in equity | | |
3
|
| |
(25)
|
| |
(22)
|
|
| Amounts transferred to the income statement | | |
-
|
| |
-
|
| |
-
|
|
| TOTAL RECOGNIZED INCOME AND EXPENSES | | |
118
|
| |
29
|
| |
147
|
|
| Scrip dividend/other dividends | | |
-
|
| |
(295)
|
| |
(295)
|
|
| Treasury share transactions | | |
(52)
|
| |
-
|
| |
(52)
|
|
| SHAREHOLDER REMUNERATION | | |
(52)
|
| |
(295)
|
| |
(347)
|
|
| Share capital increases/reductions | | |
-
|
| |
71
|
| |
71
|
|
| Share-based remuneration schemes | | |
7
|
| |
-
|
| |
7
|
|
| Hybrid bond | | |
(511)
|
| |
-
|
| |
(511)
|
|
| Consolidation scope changes | | |
-
|
| |
-
|
| |
-
|
|
| Other movements | | |
14
|
| |
2
|
| |
16
|
|
| OTHER TRANSACTIONS | | |
(490)
|
| |
73
|
| |
(417)
|
|
| Equity at 06.30.2023 | | |
3,809
|
| |
2,047
|
| |
5,856
|
|
|
TRANSACTION PERFORMED/ OBJECTIVE |
| |
NUMBER OF SHARES
PURCHASED |
| |
NUMBER OF SHARES
APPLIED TO PURPOSE |
| |
TOTAL NUMBER OF
SHARES |
|
| Balance at 12.31.2022 | | | | | | | | |
1,168,290
|
|
| Share capital | | |
2,000,000
|
| |
-
|
| |
2,000,000
|
|
| Remuneration schemes | | |
-
|
| |
(288,482)
|
| |
(288,482)
|
|
| Shares received - scrip dividend | | |
-
|
| |
-
|
| |
-
|
|
| Balance at 06.30.2023 | | | | | | | | |
2,879,808
|
|
|
(Million euro)
|
| |
JUN.2023
|
| |
DEC.2022
|
| |
CHANGE
|
|
| Short-term restricted cash | | |
31
|
| |
29
|
| |
2
|
|
| Other cash and cash equivalents | | |
4,495
|
| |
4,933
|
| |
(438)
|
|
| Total short-term cash and cash equivalents | | |
4,526
|
| |
4,962
|
| |
(436)
|
|
| Long-term restricted cash | | |
38
|
| |
41
|
| |
(3)
|
|
| Cash-related forwards | | |
(27)
|
| |
151
|
| |
(178)
|
|
| Total cash and cash equivalents | | |
4,536
|
| |
5,154
|
| |
(618)
|
|
|
(Million euro)
|
| |
DEC. 2022
|
| |
NET
DRAWDOWNS |
| |
EXCHANGE
RATE |
| |
SCOPE
CHANGES |
| |
JUN.2023
|
|
| Toll roads | | |
7,527
|
| |
17
|
| |
(123)
|
| |
(286)
|
| |
7,135
|
|
| Construction | | |
99
|
| |
(2)
|
| |
-
|
| |
-
|
| |
97
|
|
| Airports | | |
113
|
| |
(4)
|
| |
-
|
| |
-
|
| |
109
|
|
| Energy and mobility infrastructures | | |
228
|
| |
30
|
| |
(2)
|
| |
-
|
| |
256
|
|
| Total infrastruct. project borrowings | | |
7,967
|
| |
41
|
| |
(125)
|
| |
(286)
|
| |
7,597
|
|
|
(Million euro)
|
| |
DEC. 2022
|
| |
OTHER
COMPANIES - NET CHANGE |
| |
EXCHANGE
RATE |
| |
JUN.2023
|
|
| Construction | | |
22
|
| |
(2)
|
| |
1
|
| |
21
|
|
| Corporate and other | | |
3,664
|
| |
10
|
| |
(4)
|
| |
3,670
|
|
| Total ex-infrastructure project company borrowings | | |
3,686
|
| |
8
|
| |
(3)
|
| |
3,691
|
|
|
(Million euro)
|
| |
DEC. 2022
|
| |
INCREASE/
REDUCTION IN CASH EFFECT |
| |
FOREIGN
EXCHANGE EFFECT |
| |
CAPITALISED/
ACCRUED INTEREST AND OTHER |
| |
JUNE 2023
|
|
| Borrowings ex-infrastructure projects | | |
3,686
|
| |
10
|
| |
(3)
|
| |
(2)
|
| |
3,691
|
|
| Cross-currency swaps | | |
5
|
| |
-
|
| |
3
|
| |
-
|
| |
8
|
|
| Gross borrowing position, ex-infrastruct. project companies | | |
3,691
|
| |
10
|
| |
-
|
| |
(2)
|
| |
3,699
|
|
|
(Million euro)
|
| |
06.30.2023
|
| |
12.31.2022
|
| |
Var.
|
|
| Non-current financial assets | | |
815
|
| |
1,095
|
| |
(280)
|
|
| Long-term loans to associates | | |
239
|
| |
246
|
| |
(7)
|
|
| Restricted cash and other non-current financial assets | | |
317
|
| |
597
|
| |
(279)
|
|
| Other non-current financial assets | | |
259
|
| |
252
|
| |
6
|
|
| Financial derivatives at fair value (net) | | |
87
|
| |
219
|
| |
(131)
|
|
| Financial derivatives at fair value (assets) | | |
195
|
| |
331
|
| |
(136)
|
|
| Financial derivatives at fair value (liabilities) | | |
(108)
|
| |
(113)
|
| |
5
|
|
|
(Million euro)
|
| |
Notional
amounts at 06.30.2023 |
| |
Balance at
06.30.2023 |
| |
Balance at
12.31.2022 |
| |
Var.
|
| |
Impact on
reserves |
| |
Impact on
P&L - Fair value |
| |
Other
effects on the balance sheet or P&L |
|
| Index-linked derivatives (inflation) | | |
66
|
| |
73
|
| |
77
|
| |
(4)
|
| |
1
|
| |
-
|
| |
(5)
|
|
| Cash flow hedges | | |
66
|
| |
73
|
| |
77
|
| |
(4)
|
| |
1
|
| |
-
|
| |
(5)
|
|
| Interest rate derivatives | | |
1,339
|
| |
10
|
| |
-
|
| |
9
|
| |
6
|
| |
(1)
|
| |
5
|
|
| Cash flow hedges | | |
1,339
|
| |
10
|
| |
-
|
| |
9
|
| |
1
|
| |
(1)
|
| |
9
|
|
| Fair value hedges | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
4
|
| |
-
|
| |
(4)
|
|
| Speculative | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Cross-currency swaps | | |
2,100
|
| |
11
|
| |
(32)
|
| |
44
|
| |
10
|
| |
-
|
| |
34
|
|
| Cash flow hedges | | |
250
|
| |
(7)
|
| |
(5)
|
| |
(2)
|
| |
2
|
| |
-
|
| |
(5)
|
|
| Fair value hedges | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Net foreign investment hedges | | |
1,850
|
| |
18
|
| |
(28)
|
| |
46
|
| |
7
|
| |
-
|
| |
38
|
|
| Foreign exchange derivatives | | |
3,785
|
| |
(22)
|
| |
174
|
| |
(195)
|
| |
-
|
| |
3
|
| |
(198)
|
|
| Cash flow hedges | | |
492
|
| |
3
|
| |
2
|
| |
1
|
| |
-
|
| |
6
|
| |
(6)
|
|
| Fair value hedges | | |
133
|
| |
-
|
| |
3
|
| |
(2)
|
| |
-
|
| |
-
|
| |
(2)
|
|
| Net foreign investment hedges | | |
3,160
|
| |
(25)
|
| |
169
|
| |
(194)
|
| |
-
|
| |
(4)
|
| |
(190)
|
|
| Speculative | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Equity swaps | | |
65
|
| |
15
|
| |
2
|
| |
12
|
| |
-
|
| |
12
|
| |
-
|
|
| Speculative | | |
65
|
| |
15
|
| |
2
|
| |
12
|
| |
-
|
| |
12
|
| |
-
|
|
| TOTAL | | |
7,355
|
| |
87
|
| |
221
|
| |
(134)
|
| |
17
|
| |
14
|
| |
(165)
|
|
|
(Million euro)
|
| |
2023
|
| |
2022
|
| |
Change (%)
|
|
| Financial income from infrastructure project financing | | |
15
|
| |
1
|
| |
n.s.
|
|
| Financial expense from infrastructure project financing | | |
(168)
|
| |
(110)
|
| |
53%
|
|
| Net financial income/(expense) from financing, infrastructure project companies | | |
(153)
|
| |
(109)
|
| |
40%
|
|
| Net financial income/(expense) from derivatives and other fair value adjustments, infrastructure project companies (*) | | |
-
|
| |
(58)
|
| |
(100)%
|
|
| Other net financial income/(expense), infrastructure project companies | | |
(12)
|
| |
(8)
|
| |
50%
|
|
| Other net financial income/(expense), infrastructure project companies | | |
(12)
|
| |
(66)
|
| |
(82)%
|
|
| Net financial income/(expense) from infrastructure projects | | |
(165)
|
| |
(175)
|
| |
(6)%
|
|
| Financial income, other companies | | |
108
|
| |
28
|
| |
286%
|
|
| Financial expense, other companies | | |
(58)
|
| |
(17)
|
| |
241%
|
|
| Net financial income/(expense) from financing, other companies | | |
50
|
| |
11
|
| |
n.s.
|
|
| Net financial income/(expense) from derivatives and other fair value adjustments, other companies (*) | | |
7
|
| |
44
|
| |
(84)%
|
|
| Other net financial income/(expense), other companies | | |
8
|
| |
2
|
| |
n.s.
|
|
| Other net financial income/(expense), other companies | | |
15
|
| |
46
|
| |
(67)%
|
|
| Net financial income/(expense), other companies | | |
65
|
| |
57
|
| |
14%
|
|
| Total Net financial income/(expense) | | |
(100)
|
| |
(118)
|
| |
(15)%
|
|
|
(Million euros)
|
| |
06.30.2023
|
| |
06.30.2022
|
|
| Tax expense of the year | | |
(20)
|
| |
(21)
|
|
| Current tax of the year | | |
(24)
|
| |
(23)
|
|
| Deferred tax expense | | |
(3)
|
| |
(4)
|
|
| Withholdings in a foreign operation | | |
(7)
|
| |
(1)
|
|
| Change to the prior-year tax evaluation and other | | |
14
|
| |
6
|
|
| | | |
06.30.2023
|
| |||||||||
|
CATEGORY
|
| |
MEN
|
| |
WOMEN
|
| |
TOTAL
|
| |
VAR. 23/22
|
|
| Executive Directors | | |
2
|
| |
-
|
| |
2
|
| |
—%
|
|
| Senior Management | | |
11
|
| |
2
|
| |
13
|
| |
—%
|
|
| Manager and higher categories | | |
2,731
|
| |
745
|
| |
3,476
|
| |
14.0%
|
|
| Senior professionals/Supervisors | | |
1,580
|
| |
837
|
| |
2,417
|
| |
10.0%
|
|
| Professionals | | |
2,472
|
| |
1,221
|
| |
3,693
|
| |
3.0%
|
|
| Admin/Support | | |
554
|
| |
670
|
| |
1,224
|
| |
1.0%
|
|
| Blues Collars | | |
12,571
|
| |
635
|
| |
13,206
|
| |
(2.0)%
|
|
| Total | | |
19,921
|
| |
4,110
|
| |
24,031
|
| |
2.0%
|
|
| | | |
06.30.2022
|
| ||||||
|
CATEGORY
|
| |
MEN
|
| |
WOMEN
|
| |
TOTAL
|
|
| Executive Directors | | |
2
|
| |
-
|
| |
2
|
|
| Senior Management | | |
12
|
| |
1
|
| |
13
|
|
| Manager and higher categories | | |
2,486
|
| |
572
|
| |
3,058
|
|
| Senior professionals/Supervisors | | |
1,496
|
| |
703
|
| |
2,199
|
|
| Professionals | | |
2,340
|
| |
1,232
|
| |
3,572
|
|
| Administratives/Support | | |
598
|
| |
616
|
| |
1,214
|
|
| Blues Collars | | |
12,736
|
| |
708
|
| |
13,444
|
|
| Total | | |
19,670
|
| |
3,832
|
| |
23,502
|
|
| | | |
06.30.2023
|
| |||||||||
|
BUSINESS
|
| |
MEN
|
| |
WOMEN
|
| |
TOTAL
|
| |
VAR. 23/22
|
|
| Construction | | |
15,816
|
| |
3,243
|
| |
19,059
|
| |
(2.0)%
|
|
| Toll roads | | |
471
|
| |
187
|
| |
658
|
| |
35.0%
|
|
| Airports | | |
196
|
| |
41
|
| |
237
|
| |
372.0%
|
|
| Energy Infrastructure and mobility | | |
3,223
|
| |
322
|
| |
3,545
|
| |
8.0%
|
|
| Other | | |
262
|
| |
243
|
| |
505
|
| |
16.0%
|
|
| Total | | |
19,969
|
| |
4,035
|
| |
24,004
|
| |
1.0%
|
|
| | | |
06.30.2022
|
| ||||||
|
BUSINESS
|
| |
MEN
|
| |
WOMEN
|
| |
TOTAL
|
|
| Construction | | |
16,370
|
| |
3,175
|
| |
19,545
|
|
| Toll roads | | |
331
|
| |
155
|
| |
486
|
|
| | | |
06.30.2022
|
| ||||||
|
BUSINESS
|
| |
MEN
|
| |
WOMEN
|
| |
TOTAL
|
|
| Airports | | |
35
|
| |
15
|
| |
50
|
|
| Energy Infrastructure and mobility | | |
2,964
|
| |
304
|
| |
3,268
|
|
| Other | | |
257
|
| |
180
|
| |
437
|
|
| Total | | |
19,957
|
| |
3,829
|
| |
23,786
|
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Thousands of euros
|
| |
06.30.2023
|
| | |
06.30.2022
|
| ||||||||||||||||||
|
EXPENSES AND
INCOME: |
| |
a) Transactions
with Ferrovial SE |
| |
b) Transactions
with subsidiaries |
| |
Total
expenses and income |
| |
Balance at
06.30.2023 |
| | |
a) Transactions
with Ferrovial SE |
| |
b) Transactions
with subsidiaries |
| |
Total
expenses and income |
| |
Balance at
06.30.2022 |
|
| Financial expenses | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| | |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Services received | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| | |
-
|
| |
8
|
| |
8
|
| |
3
|
|
| EXPENSES | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| | |
-
|
| |
8
|
| |
8
|
| |
3
|
|
| Financial income | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| | |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Services rendered | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| | |
-
|
| |
20
|
| |
20
|
| |
-
|
|
| INCOME | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| | |
-
|
| |
20
|
| |
20
|
| |
-
|
|
| Recognition of revenue from long-term construction contracts | | |||
|
Description of the Matter
|
| |
As more fully described in notes 1.3.3.4, 1.3.4, and 4.4 to the consolidated financial statements, the Company enters into long-term construction contracts where revenue is recognized over time in accordance with either the output or input method. For the fiscal year ended December 31, 2022, the Company recognized revenue from long-term construction contracts for EUR 6,287 million.
Revenue recognition for contracts accounted for under the output method requires estimating the surveying by performance units completed to date. Contracts accounted for under the input method require estimating the total forecasted cost to complete. For both methods, management estimates, when applicable, the total amount of revenue to be recognized including variable consideration, modifications or claims.
To calculate the revenue due to variable consideration, management estimates the amount of incurred costs that will give rise to these additional sources of, or reductions to, revenue and whether such revenue meets the conditions for variable consideration, modifications or claims.
Auditing management’s measurement of revenue recognized over time on long-term construction contracts is especially challenging because it involves subjective management assumptions regarding the estimated surveying by performance units completed to date, the estimated total costs forecast to complete the work that could span several years and the amount of incurred costs that would give rise to additional sources of revenue. These assumptions could be impacted by future market and economic conditions.
|
|
|
How We Addressed the Matter in Our Audit
|
| |
We obtained an understanding of the policies and procedures that the Group applies in recognizing revenues from long-term construction contracts using the output or input method and the underlying assumptions and estimates.
Our audit procedures also included, among others, evaluating the application of the Company’s revenue recognition method, performing analytical procedures and test of details on a sample of contracts to assess the relevant contractual clauses, and compare the inputs to the Company’s historical data or experience for similar contracts, and to assess the reasonableness of management’s assumptions and estimates.
We further assessed the reasonableness of the estimated surveying by performance units completed to date and the estimated total forecasted costs to complete the work through meetings with management, as well as comparative analysis of deviations between originally planned costs and actual costs, the deviations’ impact on the estimated project margins, and certifications received by the customer, as applicable. We performed a comparative analysis of budgeted versus actual revenues recognized from contracts completed during the year, and look-back analyses to historical actual costs to assess management’s ability to estimate.
For variable consideration, we assessed the estimated amount of incurred costs that will give rise to additional sources of revenue by comparing actual construction progress to contractual completion dates and milestones, and evaluated if these are reasonably met to recognize the revenue.
For contract modifications, we assessed the evidence of the underlying technical report approvals and the status of the negotiation with the customers. For the amounts recognised in claims, we assessed the reasonableness of
|
|
| | | |
management’s judgement in recognizing such items as revenues by inspecting supporting technical reports and legal confirmations.
|
|
| Recoverability of investments in infrastructure projects operated under concession arrangements | | |||
|
Description of the Matter
|
| |
As more fully described in note 1.3.3.2, 1.3.4 and 3.3 to the consolidated financial statements, concession arrangements that fall in scope of IFRIC 12, for which the consideration received consists of the right to charge fees based on the degree of use of the public service are classified as intangible assets. At December 31, 2022, the Company recorded EUR 13,504 million of intangible assets related to concession agreements.
Management assesses, at each reporting date, whether there is an indication that the concession asset may be impaired. The related impairment tests are based on a discounted cash flow model, which involves management assumptions related to future traffic volumes, prices applied to customers, future operating expenses and the discount rate.
Auditing management’s estimates of recoverability of investments in infrastructure projects operated under concession arrangements is complex due to significance of the amounts involved, and required subjective auditor judgement due to the significant estimation required in the future traffic volumes, prices applied to customers, future operating expenses and discount rate management assumptions. Changes in the assumptions used could materially affect the recoverability of such investments in infrastructure projects.
|
|
|
How We Addressed the Matter in Our Audit
|
| |
We obtained an understanding of the policies and procedures related to the recoverability of investments in infrastructure projects.
The procedures designed to address the matter in our audit included, among others, understanding the terms and conditions of concession arrangements. We assessed the arithmetical accuracy of the discounted cash flow models. We assessed the reasonableness of the future traffic volumes, prices applied to customers, future operating expenses by comparing those assumptions to recent historical performance, current economic and industry trends, and financial forecasts. We further evaluated the consistency of the future traffic volumes, prices applied to customers, future operating expenses by comparing past forecasts to subsequent actual activity. We involved a specialist to assist in evaluating the discount rate by developing a range of discount rate, which we compared to those used by the Company. We also assessed the mathematical accuracy of the discount rates calculation.
|
|
|
Assets (Million euro)
|
| |
Note
|
| |
2022
|
| |
2021
|
|
| Non-current assets | | | | | |
18,925
|
| |
15,852
|
|
| Goodwill | | | 3.1 | | |
480
|
| |
431
|
|
| Intangible assets | | | 3.2 | | |
138
|
| |
126
|
|
| Fixed assets in infrastructure projects | | | 3.3 | | |
13,667
|
| |
11,185
|
|
|
Intangible asset model
|
| | | | |
13,504
|
| |
11,016
|
|
|
Financial asset model
|
| | | | |
163
|
| |
169
|
|
| Property, plant and equipment | | | 3.4 | | |
479
|
| |
354
|
|
| Right of use | | | 3.7 | | |
183
|
| |
176
|
|
| Investments in associates | | | 3.5 | | |
1,951
|
| |
1,838
|
|
| Non-current financial assets | | | 3.6 | | |
1,095
|
| |
879
|
|
|
Loans granted to associates
|
| | | | |
246
|
| |
227
|
|
|
Non-current restricted cash
|
| | 5.2 | | |
597
|
| |
579
|
|
|
Other non-current receivables
|
| | | | |
252
|
| |
73
|
|
| Deferred tax assets | | | 2.7 | | |
784
|
| |
570
|
|
| Long-term financial derivatives at fair value | | | 5.5 | | |
148
|
| |
293
|
|
| Current assets | | | | | |
7,411
|
| |
9,021
|
|
| Inventories | | | 4.1 | | |
476
|
| |
403
|
|
| Current income tax assets | | | | | |
19
|
| |
79
|
|
| Short-term trade and other receivables | | | 4.2 | | |
1,600
|
| |
1,336
|
|
|
Trade receivables for sales and services
|
| | | | |
1,300
|
| |
1,068
|
|
|
Other short-term receivables
|
| | | | |
300
|
| |
268
|
|
| Other short-term financial assets | | | | | |
-
|
| |
11
|
|
| Cash and cash equivalents | | | 5.2 | | |
5,130
|
| |
5,536
|
|
|
Infrastructure project companies
|
| | | | |
168
|
| |
207
|
|
|
Restricted cash
|
| | | | |
38
|
| |
47
|
|
|
Other cash and cash equivalents
|
| | | | |
130
|
| |
160
|
|
|
Ex-infrastructure project companies
|
| | | | |
4,962
|
| |
5,329
|
|
| Short term financial derivatives at fair value | | | 5.5 | | |
184
|
| |
15
|
|
| Assets held for sale | | | 1.1.5 | | |
2
|
| |
1,641
|
|
| TOTAL ASSETS | | | | | |
26,336
|
| |
24,873
|
|
|
Liabilities and equity (Million euro)
|
| |
Note
|
| |
2022
|
| |
2021
|
|
| Equity | | | 5.1 | | |
6,473
|
| |
5,946
|
|
| Equity attributable to shareholders | | | | | |
4,233
|
| |
4,156
|
|
| Equity attributable to non-controlling interests | | | | | |
2,240
|
| |
1,790
|
|
| Non-current liabilities | | | | | |
14,486
|
| |
12,385
|
|
| Deferred income | | | 6.1 | | |
1,410
|
| |
1,402
|
|
| Employee benefit plans | | | 6.2 | | |
2
|
| |
3
|
|
| Long-term provisions | | | 6.3 | | |
290
|
| |
298
|
|
| Long-term lease liabilities | | | 3.7 | | |
120
|
| |
115
|
|
| Borrowings | | | 5.2 | | |
10,776
|
| |
9,513
|
|
|
Debentures and borrowings of infrastructure project companies
|
| | | | |
7,893
|
| |
7,362
|
|
|
Debentures and borrowings of ex-infrastructure project companies
|
| | | | |
2,883
|
| |
2,151
|
|
| Other payables | | | 6.4 | | |
898
|
| |
72
|
|
| Deferred taxes | | | 2.7 | | |
924
|
| |
687
|
|
| Long-term financial derivatives at fair value | | | 5.5 | | |
66
|
| |
295
|
|
| Current liabilities | | | | | |
5,377
|
| |
6,542
|
|
| Short-term lease liabilities | | | 3.7 | | |
64
|
| |
58
|
|
| Borrowings | | | 5.2 | | |
877
|
| |
1,096
|
|
|
Debentures and borrowings of infrastructure project companies
|
| | | | |
74
|
| |
47
|
|
|
Bank borrowings of ex-infrastructure project companies
|
| | | | |
803
|
| |
1,049
|
|
| Financial derivatives at fair value | | | 5.5 | | |
47
|
| |
110
|
|
| Current income tax liabilities | | | | | |
30
|
| |
69
|
|
| Short-term trade and other payables | | | 4.3 | | |
3,429
|
| |
2,812
|
|
|
Trade payables
|
| | | | |
1,663
|
| |
1,544
|
|
|
Advance payments from customers and work certified in advance
|
| | | | |
1,364
|
| |
885
|
|
|
Other short-term payables
|
| | | | |
402
|
| |
383
|
|
| Short-term provisions | | | 6.3 | | |
930
|
| |
1,002
|
|
| Liabilities held for sale | | | 1.1.5 | | |
-
|
| |
1,395
|
|
| TOTAL LIABILITIES AND EQUITY | | | | | |
26,336
|
| |
24,873
|
|
|
Income statement (Million euro)
|
| |
Note
|
| | | | |
2022
|
| |
2021
|
| |
2020
|
|
| Revenues | | | | | | | | |
7,551
|
| |
6,910
|
| |
6,641
|
|
| Other operating income | | | | | | | | |
2
|
| |
1
|
| |
3
|
|
| Revenues and other operating income | | |
2.1
|
| | | | |
7,553
|
| |
6,911
|
| |
6,644
|
|
| Materials consumed | | | | | | | | |
1,197
|
| |
1,085
|
| |
1,000
|
|
| Other operating expenses | | |
2.2
|
| | | | |
4,182
|
| |
3,923
|
| |
3,950
|
|
| Personnel expenses | | |
2.3
|
| | | | |
1,446
|
| |
1,293
|
| |
1,282
|
|
| Total Operating Expenses | | | | | | | | |
6,825
|
| |
6,301
|
| |
6,232
|
|
| Fixed asset depreciation | | | | | | | | |
299
|
| |
270
|
| |
240
|
|
| Impairment and disposal of fixed assets | | |
2.4
|
| | | | |
(6)
|
| |
1,139
|
| |
(9)
|
|
| Operating profit/(loss) | | | | | | | | |
423
|
| |
1,479
|
| |
163
|
|
| Net financial income/(expense) from financing | | | | | | | | |
(243)
|
| |
(220)
|
| |
(244)
|
|
| Profit/(loss) on derivatives and other net financial income/(expense) | | | | | | | | |
(122)
|
| |
(87)
|
| |
37
|
|
| Net financial income/(expense) from infrastructure projects | | | | | | | | |
(365)
|
| |
(307)
|
| |
(207)
|
|
| Net financial income/(expense) from financing | | | | | | | | |
1
|
| |
(27)
|
| |
(9)
|
|
| Profit/(loss) on derivatives and other net financial income/(expense) | | | | | | | | |
47
|
| |
2
|
| |
(31)
|
|
| Net financial income/(expense) from ex-infrastructure projects | | | | | | | | |
48
|
| |
(25)
|
| |
(40)
|
|
| Net financial income/(expense) | | |
2.5
|
| | | | |
(317)
|
| |
(332)
|
| |
(247)
|
|
| Share of profits of equity-accounted companies | | |
2.6
|
| | | | |
165
|
| |
(178)
|
| |
(373)
|
|
| Profit/(loss) before tax from continuing operations | | | | | | | | |
271
|
| |
969
|
| |
(457)
|
|
| Income tax / (expense) | | |
2.7
|
| | | | |
(30)
|
| |
9
|
| |
35
|
|
| Profit/(loss) net of tax from continuing operations | | | | | | | | |
241
|
| |
978
|
| |
(422)
|
|
| Profit/(loss) net of tax from discontinued operations | | | | | | | | |
64
|
| |
361
|
| |
45
|
|
| Net profit/(loss) | | | | | | | | |
305
|
| |
1,339
|
| |
(377)
|
|
| Net profit/(loss) for the year attributed to non-controlling interests | | |
2.9
|
| | | | |
(117)
|
| |
(138)
|
| |
(51)
|
|
| Net profit/(loss) for the year attributed to the parent company | | | | | | | | |
188
|
| |
1,201
|
| |
(428)
|
|
| Net earnings per share attributed to the parent company (in euros) | | |
2.10
|
| |
Diluted
|
| |
0.25
|
| |
1.63
|
| |
(0.60)
|
|
| | | |
Basic
|
| |
0.25
|
| |
1.63
|
| |
(0.60)
|
| |||
| Net earnings per share attributed to the parent company Continuing Operations (in euros) | | |
Diluted
|
| |
0.16
|
| |
1.14
|
| |
(0.65)
|
| |||
| | | |
Basic
|
| |
0.16
|
| |
1.14
|
| |
(0.65)
|
|
|
(Million euro)
|
| |
Note
|
| |
2022
|
| |
2021
|
| |
2020
|
|
| a) Net profit/(loss) | | | | | |
305
|
| |
1,339
|
| |
(377)
|
|
|
Attributed to parent company
|
| | | | |
188
|
| |
1,201
|
| |
(428)
|
|
|
Attributed to non-controlling interests
|
| | | | |
117
|
| |
138
|
| |
51
|
|
| b) Income and expense recognized directly in equity | | |
5.1
|
| |
456
|
| |
180
|
| |
(399)
|
|
|
Fully-consolidated companies
|
| | | | |
333
|
| |
131
|
| |
(225)
|
|
|
Impact on hedge reserves
|
| |
5.5
|
| |
193
|
| |
11
|
| |
(185)
|
|
|
Impact on defined benefit plan reserves (*)
|
| |
6.2
|
| |
-
|
| |
-
|
| |
-
|
|
|
Currency translation differences
|
| | | | |
160
|
| |
114
|
| |
(88)
|
|
|
Tax effect
|
| | | | |
(20)
|
| |
6
|
| |
48
|
|
|
Companies held for sale
|
| | | | |
(8)
|
| |
27
|
| |
10
|
|
|
Impact on hedge reserves
|
| | | | |
-
|
| |
4
|
| |
-
|
|
|
Impact on defined benefit plan reserves (*)
|
| | | | |
-
|
| |
-
|
| |
-
|
|
|
Currency translation differences
|
| | | | |
(8)
|
| |
24
|
| |
10
|
|
|
Tax effect
|
| | | | |
-
|
| |
(1)
|
| |
-
|
|
|
Equity-accounted companies
|
| | | | |
131
|
| |
22
|
| |
(184)
|
|
|
Impact on hedge reserves
|
| | | | |
236
|
| |
45
|
| |
(28)
|
|
|
Impact on defined benefit plan reserves (*)
|
| | | | |
-
|
| |
33
|
| |
(38)
|
|
|
Currency translation differences
|
| | | | |
(29)
|
| |
(32)
|
| |
(132)
|
|
|
Tax effect
|
| | | | |
(76)
|
| |
(24)
|
| |
14
|
|
| c) Transfers to income statement | | |
5.1
|
| |
131
|
| |
1
|
| |
46
|
|
|
Fully-consolidated companies
|
| | | | |
(47)
|
| |
12
|
| |
-
|
|
|
Transfers to income statement
|
| | | | |
(62)
|
| |
16
|
| |
-
|
|
|
Tax effect
|
| | | | |
15
|
| |
(4)
|
| |
-
|
|
|
Companies held for sale
|
| | | | |
178
|
| |
3
|
| |
43
|
|
|
Transfers to income statement
|
| | | | |
179
|
| |
4
|
| |
53
|
|
|
Tax effect
|
| | | | |
(1)
|
| |
(1)
|
| |
(10)
|
|
|
Equity-accounted companies
|
| | | | |
-
|
| |
(14)
|
| |
3
|
|
|
Transfers to income statement
|
| | | | |
-
|
| |
(14)
|
| |
4
|
|
|
Tax effect
|
| | | | |
-
|
| |
-
|
| |
(1)
|
|
| a)+ b)+ c) TOTAL COMPREHENSIVE INCOME | | | | | |
892
|
| |
1,520
|
| |
(730)
|
|
| Attributed to the parent company | | | | | |
710
|
| |
1,398
|
| |
(729)
|
|
| Attributed to non-controlling interests | | | | | |
182
|
| |
122
|
| |
(1)
|
|
|
(Million euro)
|
| |
Share capital
|
| |
Share/
Merger premium |
| |
Treasury
shares |
| |
Other equity
instruments |
| |
Measurement
adjustments |
| |
Retained
earnings and other reserves |
| |
Attributed to
shareholders |
| |
Attributed to
non-controlling interest |
| |
Total
equity |
|
| Balance at 01.01.2020 | | |
147
|
| |
995
|
| |
(75)
|
| |
505
|
| |
(1,195)
|
| |
4,039
|
| |
4,416
|
| |
783
|
| |
5,199
|
|
| Consolidated profit/(loss) for the year 2020 | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(428)
|
| |
(428)
|
| |
51
|
| |
(377)
|
|
| Income and expense recognized directly in equity | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(347)
|
| |
-
|
| |
(347)
|
| |
(52)
|
| |
(399)
|
|
| Transfers to income statement | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
46
|
| |
-
|
| |
46
|
| |
-
|
| |
46
|
|
| Total income and expenses recognized for the year | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(301)
|
| |
(428)
|
| |
(729)
|
| |
(1)
|
| |
(733)
|
|
| Scrip dividend agreement | | |
3
|
| |
(92)
|
| |
-
|
| |
-
|
| |
-
|
| |
(29)
|
| |
(119)
|
| |
-
|
| |
(119)
|
|
| Other dividends | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(134)
|
| |
(134)
|
|
| Treasury share transactions | | |
(3)
|
| |
(256)
|
| |
62
|
| |
-
|
| |
-
|
| |
(62)
|
| |
(258)
|
| |
-
|
| |
(258)
|
|
| Shareholder remuneration | | |
-
|
| |
(348)
|
| |
62
|
| |
-
|
| |
-
|
| |
(91)
|
| |
(377)
|
| |
(134)
|
| |
(511)
|
|
|
Share capital increases/reductions
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
15
|
| |
15
|
|
| Share-based remuneration schemes | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(9)
|
| |
(9)
|
| |
-
|
| |
(9)
|
|
| Other movements | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(19)
|
| |
(19)
|
| |
1
|
| |
(18)
|
|
| Other transactions | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(28)
|
| |
(28)
|
| |
16
|
| |
(12)
|
|
| Perpetual subordinated bond issuances (Note 5.1.1) | | |
-
|
| |
-
|
| |
-
|
| |
1
|
| |
-
|
| |
(8)
|
| |
(7)
|
| |
-
|
| |
(7)
|
|
| Scope changes | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(22)
|
| |
(22)
|
| |
(24)
|
| |
(46)
|
|
| Balance at 12.31.2020 | | |
147
|
| |
647
|
| |
(13)
|
| |
506
|
| |
(1,496)
|
| |
3,462
|
| |
3,253
|
| |
640
|
| |
3,893
|
|
| | ||||||||||||||||||||||||||||
| Consolidated profit/(loss) for the year 2021 | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
1,201
|
| |
1,201
|
| |
138
|
| |
1,339
|
|
| Income and expense recognized directly in equity | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
196
|
| |
-
|
| |
196
|
| |
(16)
|
| |
180
|
|
| Transfers to income statement | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
1
|
| |
-
|
| |
1
|
| |
-
|
| |
1
|
|
| Total income and expenses recognized for the year | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
197
|
| |
1,201
|
| |
1,398
|
| |
122
|
| |
1,520
|
|
| Scrip dividend agreement | | |
3
|
| |
3
|
| |
-
|
| |
-
|
| |
-
|
| |
(34)
|
| |
(29)
|
| |
-
|
| |
(29)
|
|
| Other dividends | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(270)
|
| |
(270)
|
|
| Treasury share transactions | | |
(3)
|
| |
(432)
|
| |
(111)
|
| |
-
|
| |
-
|
| |
111
|
| |
(434)
|
| |
-
|
| |
(434)
|
|
| Shareholder remuneration | | |
-
|
| |
(429)
|
| |
(111)
|
| |
-
|
| |
-
|
| |
77
|
| |
(463)
|
| |
(270)
|
| |
(733)
|
|
|
Share capital increases/reductions
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
28
|
| |
28
|
|
| Share-based remuneration schemes | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(22)
|
| |
(22)
|
| |
-
|
| |
(22)
|
|
| Other movements | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(3)
|
| |
(3)
|
| |
-
|
| |
(3)
|
|
| Other transactions | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(25)
|
| |
(25)
|
| |
28
|
| |
3
|
|
| Perpetual subordinated bond issuances (Note 5.1.1) | | |
-
|
| |
-
|
| |
-
|
| |
1
|
| |
-
|
| |
(8)
|
| |
(7)
|
| |
-
|
| |
(7)
|
|
| Scope changes | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
1,270
|
| |
1,270
|
|
| Balance at 12.31.2021 | | |
147
|
| |
218
|
| |
(124)
|
| |
507
|
| |
(1,299)
|
| |
4,707
|
| |
4,156
|
| |
1,790
|
| |
5,946
|
|
| | ||||||||||||||||||||||||||||
| Consolidated profit/(loss) for the year 2022 | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
188
|
| |
188
|
| |
117
|
| |
305
|
|
| Income and expense recognized directly in equity | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
391
|
| |
-
|
| |
391
|
| |
65
|
| |
456
|
|
| Transfers to income statement | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
131
|
| |
-
|
| |
131
|
| |
-
|
| |
131
|
|
| Total income and expenses recognized for the year | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
522
|
| |
188
|
| |
710
|
| |
182
|
| |
892
|
|
| Scrip dividend agreement | | |
3
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(135)
|
| |
(132)
|
| |
-
|
| |
(132)
|
|
| Other dividends | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(160)
|
| |
(160)
|
|
| Treasury share transactions | | |
(5)
|
| |
(218)
|
| |
98
|
| |
-
|
| |
-
|
| |
(321)
|
| |
(446)
|
| |
-
|
| |
(446)
|
|
| Shareholder remuneration | | |
(2)
|
| |
(218)
|
| |
98
|
| |
-
|
| |
-
|
| |
(456)
|
| |
(578)
|
| |
(160)
|
| |
(738)
|
|
|
Share capital increases/reductions
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
356
|
| |
356
|
|
| Share-based remuneration schemes | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Other movements | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
41
|
| |
41
|
| |
5
|
| |
46
|
|
| Other transactions | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
41
|
| |
41
|
| |
361
|
| |
402
|
|
| Perpetual subordinated bond issuances (Note 5.1.1) | | |
-
|
| |
-
|
| |
-
|
| |
1
|
| |
-
|
| |
(9)
|
| |
(8)
|
| |
-
|
| |
(8)
|
|
| Scope changes | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(88)
|
| |
(88)
|
| |
67
|
| |
(21)
|
|
| Balance at 12.31.2022 | | |
145
|
| |
-
|
| |
(26)
|
| |
508
|
| |
(778)
|
| |
4,384
|
| |
4,233
|
| |
2,240
|
| |
6,473
|
|
|
(Million euro)
|
| |
Note
|
| |
2022
|
| |
2021
|
| |
2020
|
|
| Net profit/(loss) attributable to parent company | | | | | |
188
|
| |
1,201
|
| |
-428
|
|
| Adjustments to profit/(loss) | | | | | |
695
|
| |
(259)
|
| |
1,015
|
|
|
Net profit/(loss) for the year attributed to non-controlling interests
|
| | | | |
117
|
| |
138
|
| |
51
|
|
|
Profit (loss) net of tax from discontinued operations
|
| | | | |
(64)
|
| |
(361)
|
| |
(45)
|
|
|
Income tax / (expense)
|
| | | | |
30
|
| |
(9)
|
| |
(35)
|
|
|
Share of profits of equity-accounted companies
|
| | | | |
(165)
|
| |
178
|
| |
373
|
|
|
Net financial income/(expense)
|
| | | | |
317
|
| |
332
|
| |
247
|
|
|
Impairment and disposal of fixed assets
|
| | | | |
6
|
| |
(1,139)
|
| |
10
|
|
|
Fixed asset depreciation
|
| | | | |
299
|
| |
270
|
| |
239
|
|
|
Operating profit/(loss) Discontinued Operations ex - depreciation/amortization & impairment
|
| |
2.8
|
| |
155
|
| |
332
|
| |
175
|
|
| Tax payments | | | | | |
(82)
|
| |
(155)
|
| |
(101)
|
|
| Change in working capital (receivables, payables and other) | | |
4.0
|
| |
(83)
|
| |
(249)
|
| |
308
|
|
| Dividends received from equity accounted infrastructure project companies | | |
3.5
|
| |
284
|
| |
272
|
| |
299
|
|
| Cash flows from operating activities | | | | | |
1,002
|
| |
810
|
| |
1,093
|
|
| Investment in property, plant and equipment/intangible assets | | | | | |
(95)
|
| |
(124)
|
| |
(116)
|
|
| Investment in infrastructure projects | | |
3.3
|
| |
(784)
|
| |
(239)
|
| |
(128)
|
|
| Loans granted to associates/acquisition of companies | | | | | |
(347)
|
| |
(923)
|
| |
(152)
|
|
| Interest received | | |
2.5
|
| |
47
|
| |
3
|
| |
25
|
|
| Investment of long-term restricted cash | | | | | |
18
|
| |
119
|
| |
253
|
|
| Divestment of infrastructure projects | | | | | |
-
|
| |
-
|
| |
-
|
|
| Divestment/sale of companies | | |
1.1.6
|
| |
429
|
| |
1,621
|
| |
501
|
|
| Cash flows from (used in) investing activities | | | | | |
(732)
|
| |
457
|
| |
383
|
|
| Financing activities | | | | | |
|
| | | | |
|
|
| Capital cash flows from non-controlling interests | | | | | |
350
|
| |
57
|
| |
19
|
|
|
Scrip dividend
|
| | | | |
(132)
|
| |
(31)
|
| |
(122)
|
|
|
Treasury share purchases
|
| | | | |
(446)
|
| |
(432)
|
| |
(255)
|
|
| Shareholder remuneration | | | | | |
(578)
|
| |
(463)
|
| |
(377)
|
|
| Dividends paid to non-controlling interests of investees | | | | | |
(161)
|
| |
(270)
|
| |
(133)
|
|
| Other movements in shareholders’ funds | | | | | |
(69)
|
| |
-
|
| |
(24)
|
|
| Interest paid | | |
2.5
|
| |
(329)
|
| |
(295)
|
| |
(274)
|
|
| Lease payments | | | | | |
(72)
|
| |
(131)
|
| |
(89)
|
|
| Increase in borrowings | | | | | |
1,207
|
| |
603
|
| |
2,209
|
|
| Decrease in borrowings | | | | | |
(665)
|
| |
(1,671)
|
| |
(804)
|
|
| Net change in borrowings from discontinued operations | | | | | |
1
|
| |
(51)
|
| |
(96)
|
|
| Cash flows from (used in) financing activities | | | | | |
(316)
|
| |
(2,221)
|
| |
430
|
|
| Effect of exchange rate on cash and cash equivalents | | | | | |
(283)
|
| |
99
|
| |
(133)
|
|
| Change in cash and cash equivalents due to consolidation scope changes | | | | | |
4
|
| |
(109)
|
| |
(6)
|
|
| Changes in cash and cash equivalents from assets held for sale | | |
5.3
|
| |
(81)
|
| |
(44)
|
| |
43
|
|
| Change in cash and cash equivalents | | |
5.3
|
| |
(406)
|
| |
(1,008)
|
| |
1,810
|
|
| Cash and cash equivalents at beginning of year | | | | | |
5,536
|
| |
6,544
|
| |
4,735
|
|
| Cash and cash equivalents at year-end | | | | | |
5,130
|
| |
5,536
|
| |
6,544
|
|
|
Services Division
(Million euro) |
| |
12.31.21
|
|
| Non-current assets | | |
923
|
|
| Goodwill on consolidation | | |
107
|
|
| Intangible assets | | |
93
|
|
| Fixed assets in infrastructure projects | | |
66
|
|
| Property, plant and equipment | | |
70
|
|
| Right of use | | |
240
|
|
| Deferred taxes | | |
184
|
|
| Other non-current assets | | |
163
|
|
| Current assets | | |
689
|
|
| Inventories | | |
14
|
|
| Short-term trade and other receivables | | |
516
|
|
| Cash and cash equivalents | | |
118
|
|
| Other current assets | | |
41
|
|
| TOTAL Assets classified as discontinued operations | | |
1,612
|
|
|
Services Division
(Million euro) |
| |
12.31.21
|
|
| Deferred income | | |
-
|
|
| Non-current liabilities | | |
310
|
|
| Long-term provisions | | |
25
|
|
| Long-term lease liabilities | | |
87
|
|
| Borrowings | | |
51
|
|
| Deferred taxes | | |
132
|
|
| Other non-current liabilities | | |
16
|
|
| Current liabilities | | |
1,086
|
|
| Short-term lease liabilities | | |
38
|
|
| Borrowings | | |
5
|
|
| Short-term trade and other payables | | |
860
|
|
| Trade provisions | | |
101
|
|
| Other current liabilities | | |
81
|
|
| TOTAL Liabilities classified as discontinued operations | | |
1,395
|
|
|
(Million euro)
|
| |
FAIR VALUE RECOGNIZED
ON ACQUISITION |
|
|
Property, plant and equipment
|
| |
1
|
|
|
Intangible assets (Note 3.3.1.)
|
| |
638
|
|
|
Deferred tax assets
|
| |
18
|
|
|
TOTAL NON-CURRENT ASSETS
|
| |
657
|
|
|
TOTAL CURRENT ASSETS
|
| |
14
|
|
|
TOTAL ASSETS
|
| |
671
|
|
|
Borrowings long-term
|
| |
115
|
|
|
Other long-term payables
|
| |
281
|
|
|
Borrowings short-term
|
| |
17
|
|
|
Trade and other payables
|
| |
18
|
|
|
Deferred tax liability (Note 2.8.3)
|
| |
46
|
|
|
TOTAL LIABILITIES
|
| |
476
|
|
|
TOTAL IDENTIFIABLE NET ASSETS AT FAIR VALUE
100% |
| |
196
|
|
|
Total identifiable net assets at fair value 60%
|
| |
117
|
|
|
Goodwill associated with deferred tax liability (Note 3.1.1)
|
| |
27
|
|
|
PURCHASE CONSIDERATION TRANSFERRED
|
| |
145
|
|
| | | |
Amount fair value
|
| |||
|
Shares issued, at fair value
|
| | | | |
104
|
|
|
Deferred payment
|
| | | | |
30
|
|
|
Contingent consideration
liability |
| | | | |
11
|
|
|
TOTAL CONSIDERATION
|
| |
145
|
|
|
(Million euro)
|
| |
FAIR VALUE RECOGNIZED
ON ACQUISITION |
|
|
NON-CURRENT ASSETS
|
| |
4,432
|
|
|
Fixed assets in infrastructure projects (Note 3.3)
|
| |
4,432
|
|
|
CURRENT ASSETS
|
| |
109
|
|
|
Receivables
|
| |
108
|
|
|
Cash and cash equivalents
|
| |
1
|
|
|
TOTAL ASSETS
|
| |
4,542
|
|
|
NON-CURRENT LIABILITIES
|
| |
1,527
|
|
|
Long-term borrowings
|
| |
1,527
|
|
|
CURRENT LIABILITIES
|
| |
118
|
|
|
Short-term borrowings
|
| |
27
|
|
|
Trade and other payables
|
| |
90
|
|
|
TOTAL LIABILITIES
|
| |
1,654
|
|
| | | | | |
|
TOTAL IDENTIFIABLE NET ASSETS AT FAIR VALUE
|
| |
2,897
|
|
| | | |
Amount fair value (EUR)
|
| |||
|
Shares issued, at fair value
|
| | | | |
162
|
|
|
Commitment to inject additional capital
|
| | | | |
36
|
|
|
TOTAL CONSIDERATION
|
| |
198
|
|
|
Standards and amendments
|
| |
Mandatory application:
annual periods beginning on or after |
| |||
|
IFRS 17 – Insurance Contracts
|
| |
Replaces IFRS 4 and clarifies the principles of recognition, measurement, presentation and disclosure of insurance contracts in order to ensure that the entity provides relevant and reliable information that allows the users of the information to determine the effects of the contracts on their financial statements.
|
| |
1 January 2023
|
|
|
Amendment to IFRS 17 – Comparative information
|
| |
Modification of the transition requirements to IFRS 17 for insurers applying IFRS 17 and IFRS 9 for the first time to both.
|
| |
1 January 2023
|
|
|
Amendments to IAS 1- Presentation of Financial Statements. Disclosure of accounting policies
|
| |
The amendments will help improve disclosures on accounting policies to provide more useful information to investors and other primary users of financial statements.
|
| |
1 January 2023
|
|
|
Amendments to IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates
|
| |
The amendments will make it easier to distinguish between changes in accounting estimates and changes in accounting policies.
|
| |
1 January 2023
|
|
|
Amendment to IAS 12 – Deferred tax on leases and decommissioning obligations
|
| |
The amendments will clarify that the exceptions to initial recognition are not applicable when there are taxable and deductible timing differences for the same amount.
|
| |
1 January 2023
|
|
|
Amendment to IAS 1 – Classification of Liabilities as Current or Non-current.
|
| |
The amendment clarifies a criterion in IAS 1 for classifying a liability as non-current. The requirement for an entity to have the right to defer settlement of the liability for at least twelve months after the reporting period.
|
| |
1 January 2024
|
|
|
Amendment to IAS 1 – Classification of Liabilities as Non-current Liabilities with Covenants
|
| |
The amendments improve the information an entity provides when its right to defer settlement of a liability for at least twelve months is subject to compliance with covenants. The amendments also respond to stakeholders’ concerns about the classification of such a liability as current or non-current.
|
| |
1 January 2024
|
|
|
Amendment to IFRS 16 – Lease Liability in a Sale and Leaseback
|
| |
Lease Liability in a Sale and Leaseback amends IFRS 16 by adding subsequent measurement requirements for sale and leaseback transactions.
|
| |
1 January 2024
|
|
|
PROJECT
|
| |
ACTIVITY
|
| |
% SHARE
|
| |
REVENUE (€M)
|
|
| HS2 Main Works | | | Works on 80 km of the HS2 between Chilterns and Warwickshire, including 15 viaducts, 5 km of green tunnels, 22 km of road diversions, 67 bridges and 30 million cubic meters of excavation. | | |
15.00%
|
| |
235
|
|
| Sydney Metro West | | | Metro design and construction on an 11-kilometres stretch of twin railway tunnels between Sydney Olympic Park and The Bays, Australia | | |
50.00%
|
| |
159
|
|
| Northern Line/ Thames Tideway Tunnel | | | Design and construction of the Thames Tideway tunnel and extension of the London Underground Northern Line | | |
50.00%
|
| |
123
|
|
| Riverlinx | | | Design, construction, financing, operation and maintenance of the Silvertown Tunnel in East London | | |
40.00%
|
| |
91
|
|
| HS2 Enabling Works | | | Preliminary ground and enabling works for the HS2 high-speed line in the UK | | |
37.34%
|
| |
35
|
|
| Ontario Transit Group Constructor GP | | | Design, build and finance Ontario Line Subway: Construction of 6.7 km, seven-station rapid transit system. | | |
50.00%
|
| |
8
|
|
| Metro Paris Ligne 3º JV | | | Construction o 3A Line 18 of the Grand Paris Metro | | |
50.00%
|
| |
1
|
|
| TOTAL | | | | | | | | |
652
|
|
| | | |
YEARS OF USEFUL LIFE
|
|
| Buildings and other structures | | |
10-50
|
|
| Machinery, installations and tooling | | |
2-25
|
|
| Furniture and fittings | | |
2-15
|
|
| Vehicles | | |
3-20
|
|
| Other fixed assets | | |
2-20
|
|
|
CONCESSION OPERATOR
|
| |
COUNTRY
|
| |
STATUS
|
| |
START YEAR (*)
|
| |
END YEAR
|
| |
CONSOL. METHOD
|
|
| NTE Mobility Partners , LLC | | |
USA
|
| |
Operation
|
| |
2014
|
| |
2061
|
| |
Full consolidation
|
|
| NTE Mobility Partners Seg 3 LLC | | |
USA
|
| |
Operation
|
| |
2018
|
| |
2061
|
| |
Full consolidation
|
|
| LBJ Infr. Group LLC | | |
USA
|
| |
Operation
|
| |
2014
|
| |
2061
|
| |
Full consolidation
|
|
| I-66 Mobility Partners LLC | | |
USA
|
| |
Operation
|
| |
2016
|
| |
2066
|
| |
Full consolidation
|
|
| I-77 Mobility Partners LLC | | |
USA
|
| |
Operation
|
| |
2019
|
| |
2069
|
| |
Full consolidation
|
|
| Euroscut Azores | | |
Portugal
|
| |
Operation
|
| |
2011
|
| |
2036
|
| |
Full consolidation
|
|
| Eurolink Motorway Operations (M4-M6) | | |
Ireland
|
| |
Operation
|
| |
2005
|
| |
2033
|
| |
Equity consolidation
|
|
| Autopista Terrasa Manresa, S.A. | | |
Spain
|
| |
Operation
|
| |
1989
|
| |
2036
|
| |
Full consolidation
|
|
| Autovía de Aragón, S.A. (**) | | |
Spain
|
| |
Operation
|
| |
2007
|
| |
2026
|
| |
Full consolidation
|
|
| Dalaman International Airport | | |
Turkey
|
| |
Operation
|
| |
2022
|
| |
2042
|
| |
Fully consolidation
|
|
| JFK NTO LLC | | |
USA
|
| |
Construction
|
| |
2022
|
| |
2060
|
| |
Equity method
|
|
|
CONCESSION OPERATOR
|
| |
COUNTRY
|
| |
STATUS
|
| |
START
YEAR(*) |
| |
END
YEAR |
| |
CONSO. METHOD
|
|
| Concesionaria de Prisiones Lledoners | | |
Spain
|
| |
Operation
|
| |
2008
|
| |
2038
|
| |
Full consolidation
|
|
| Depusa Aragón, S.A. | | |
Spain
|
| |
Operation
|
| |
2017
|
| |
2037
|
| |
Full consolidation
|
|
| Wroclaw Budimex Car Park | | |
Poland
|
| |
Operation
|
| |
2012
|
| |
2042
|
| |
Full consolidation
|
|
| UK Waste Treatment (Thalia) | | |
UK
|
| |
Operation
|
| |
2008
|
| |
2036
|
| |
Full consolidation
|
|
|
CONCESSION OPERATOR
|
| |
COUNTRY
|
| |
STATUS
|
| |
START YEAR
(*) |
| |
END
YEAR |
| |
CONSOL. METHOD
|
|
| Eurolink M3 | | |
Ireland
|
| |
Operation
|
| |
2010
|
| |
2052
|
| |
Equity consolidation
|
|
| A66 Benavente – Zamora | | |
Spain
|
| |
Operation
|
| |
2015
|
| |
2042
|
| |
Equity consolidation
|
|
| 407 East Extension | | |
Canada
|
| |
Operation
|
| |
2016
|
| |
2045
|
| |
Equity consolidation
|
|
| Scot Roads Partnership Project Limited | | |
UK
|
| |
Operation
|
| |
2017
|
| |
2047
|
| |
Equity consolidation
|
|
| Nexus Infr. Unit Trust (Toowoomba) | | |
Australia
|
| |
Operation
|
| |
2019
|
| |
2043
|
| |
Equity consolidation
|
|
| Blackbird Infrastructure Group (407 East Phase 2) | | |
Canada
|
| |
Operation
|
| |
2019
|
| |
2047
|
| |
Equity consolidation
|
|
| Ruta del Cacao S.A.S | | |
Colombia
|
| |
Construction
|
| |
2015
|
| |
2040
|
| |
Equity consolidation
|
|
| Zero Bypass Ltd. | | |
Slovakia
|
| |
Operation
|
| |
2016
|
| |
2050
|
| |
Equity consolidation
|
|
| Netflow OSARs Western | | |
Australia
|
| |
Construction
|
| |
2017
|
| |
2040
|
| |
Equity consolidation
|
|
| Riverlinx, Ltd. | | |
UK
|
| |
Construction
|
| |
2019
|
| |
2050
|
| |
Equity consolidation
|
|
|
Closing Exchange rate
|
| |
2022
|
| |
2021
|
| |
Change 22/21 (*)
|
|
| Pound sterling | | |
0.88534
|
| |
0.84133
|
| |
5.23%
|
|
| US dollar | | |
1.07050
|
| |
1.1370
|
| |
(5.85)%
|
|
| Canadian dollar | | |
1.45055
|
| |
1.4373
|
| |
0.92%
|
|
| Australian dollar | | |
1.57172
|
| |
1.5647
|
| |
0.45%
|
|
| Polish zloty | | |
4.6852
|
| |
4.5869
|
| |
2.14%
|
|
| Chilean peso | | |
908.1600
|
| |
968.9800
|
| |
(6.28)%
|
|
| Indian rupee | | |
88.1544
|
| |
84.2136
|
| |
4.68%
|
|
|
Average
exchange rate |
| |
2022
|
| |
2021
|
| |
2020
|
| |
Change 22/21 (*)
|
| |
Change 21/20 (*)
|
|
| Pound sterling | | |
0.85269
|
| |
0.8590
|
| |
0.8887
|
| |
(0.69)%
|
| |
(3.39)%
|
|
| US dollar | | |
1.05330
|
| |
1.1796
|
| |
1.1465
|
| |
(10.70)%
|
| |
2.89%
|
|
| Canadian dollar | | |
1.36984
|
| |
1.4790
|
| |
1.5377
|
| |
(7.38)%
|
| |
(3.82)%
|
|
| Australian dollar | | |
1.51685
|
| |
1.5785
|
| |
1.6593
|
| |
(3.91)%
|
| |
(4.87)%
|
|
| Polish zloty | | |
4.68474
|
| |
4.5656
|
| |
4.4673
|
| |
2.61%
|
| |
2.20%
|
|
| Chilean peso | | |
917.53335
|
| |
901.4610
|
| |
906.6242
|
| |
(1.78)%
|
| |
(0.57)%
|
|
| Indian rupee | | |
82.7262
|
| |
87.2774
|
| |
84.8925
|
| |
(5.21)%
|
| |
2.81%
|
|
| | | |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy and
mobility infrastructure |
| |
Other
|
| |
Adjustments
|
| |
Total 2022
|
|
| Revenues | | |
6,463
|
| |
780
|
| |
54
|
| |
296
|
| |
178
|
| |
(220)
|
| |
7,551
|
|
| Total operating expenses | | |
6,289
|
| |
230
|
| |
56
|
| |
283
|
| |
189
|
| |
(222)
|
| |
6,825
|
|
| Fixed asset depreciation | | |
113
|
| |
160
|
| |
7
|
| |
12
|
| |
7
|
| |
-
|
| |
299
|
|
| Impairment and disposal of fixed assets | | |
-
|
| |
(3)
|
| |
-
|
| |
(3)
|
| |
-
|
| |
-
|
| |
(6)
|
|
| Operating profit/(loss) | | |
63
|
| |
387
|
| |
(9)
|
| |
(2)
|
| |
(16)
|
| |
-
|
| |
423
|
|
| Profit/(loss) on derivatives and other net financial income/(expense) | | |
(34)
|
| |
(110)
|
| |
19
|
| |
1
|
| |
51
|
| |
(2)
|
| |
(75)
|
|
| Net financial income/(expense) from financing | | |
35
|
| |
(240)
|
| |
-
|
| |
(9)
|
| |
(30)
|
| |
2
|
| |
(242)
|
|
| Net financial income/(expense) | | |
1
|
| |
(350)
|
| |
19
|
| |
(8)
|
| |
21
|
| |
-
|
| |
(317)
|
|
| Share of profits of equity-accounted companies | | |
1
|
| |
158
|
| |
7
|
| |
(1)
|
| |
-
|
| |
-
|
| |
165
|
|
| Profit/(loss) before tax from continuing operations | | |
65
|
| |
195
|
| |
17
|
| |
(11)
|
| |
5
|
| |
-
|
| |
271
|
|
| Income tax/(expense) | | |
(5)
|
| |
(39)
|
| |
2
|
| |
(4)
|
| |
16
|
| |
-
|
| |
(30)
|
|
| Profit/(loss) net of tax from continuing operations | | |
60
|
| |
156
|
| |
19
|
| |
(15)
|
| |
21
|
| |
-
|
| |
241
|
|
| Profit/(loss) net of tax from discontinued operations | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
64
|
| |
-
|
| |
64
|
|
| Net profit/(loss) | | |
60
|
| |
156
|
| |
19
|
| |
(15)
|
| |
85
|
| |
-
|
| |
305
|
|
| Net profit/(loss) for the year attributed to non-controlling interests | | |
(42)
|
| |
(65)
|
| |
(9)
|
| |
-
|
| |
-
|
| |
(1)
|
| |
(117)
|
|
| Net profit/(loss) for the year attributed to parent company | | |
18
|
| |
91
|
| |
10
|
| |
(15)
|
| |
85
|
| |
(1)
|
| |
188
|
|
| | | |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy and
mobility |
| |
Other
|
| |
Adjustments
|
| |
Total 2021
|
|
| Revenues | | |
6,077
|
| |
588
|
| |
2
|
| |
252
|
| |
157
|
| |
(166)
|
| |
6,910
|
|
| Total operating expenses | | |
5,833
|
| |
173
|
| |
28
|
| |
264
|
| |
168
|
| |
(165)
|
| |
6,301
|
|
| Fixed asset depreciation | | |
112
|
| |
141
|
| |
-
|
| |
12
|
| |
5
|
| |
-
|
| |
270
|
|
| Impairment and disposal of fixed assets | | |
22
|
| |
1,117
|
| |
-
|
| |
-
|
| |
1
|
| |
(1)
|
| |
1,139
|
|
| Operating profit/(loss) | | |
154
|
| |
1,392
|
| |
(26)
|
| |
(24)
|
| |
(16)
|
| |
(1)
|
| |
1,479
|
|
| Profit/(loss) on derivatives and other net financial income/(expense) | | |
(24)
|
| |
(86)
|
| |
(6)
|
| |
4
|
| |
26
|
| |
1
|
| |
(85)
|
|
| Net financial income/(expense) from financing | | |
(6)
|
| |
(198)
|
| |
-
|
| |
(7)
|
| |
(36)
|
| |
-
|
| |
(247)
|
|
| Net financial income/(expense) | | |
(30)
|
| |
(284)
|
| |
(6)
|
| |
(3)
|
| |
(10)
|
| |
1
|
| |
(332)
|
|
| Share of profits of equity-accounted companies | | |
-
|
| |
81
|
| |
(254)
|
| |
(6)
|
| |
1
|
| |
-
|
| |
(178)
|
|
| Profit/(loss) before tax from continuing operations | | |
124
|
| |
1,189
|
| |
(286)
|
| |
(33)
|
| |
(25)
|
| |
-
|
| |
969
|
|
| Income tax/(expense) | | |
(49)
|
| |
(71)
|
| |
7
|
| |
5
|
| |
116
|
| |
1
|
| |
9
|
|
| Profit/(loss) net of tax from continuing operations | | |
75
|
| |
1,118
|
| |
(279)
|
| |
(28)
|
| |
91
|
| |
1
|
| |
978
|
|
| Profit/(loss) net of tax from discontinued operations | | |
115
|
| |
-
|
| |
-
|
| |
-
|
| |
246
|
| |
-
|
| |
361
|
|
| Net profit/(loss) | | |
190
|
| |
1,118
|
| |
(279)
|
| |
(28)
|
| |
337
|
| |
1
|
| |
1,339
|
|
| Net profit/(loss) for the year attributed to non-controlling interests | | |
(105)
|
| |
(29)
|
| |
-
|
| |
-
|
| |
(3)
|
| |
(1)
|
| |
(138)
|
|
| Net profit/(loss) for the year attributed to parent company | | |
85
|
| |
1,089
|
| |
(279)
|
| |
(28)
|
| |
334
|
| |
-
|
| |
1,201
|
|
| | | |
Construction
|
| |
Toll Roads
|
| |
Airports
|
| |
Energy and
mobility |
| |
Other
|
| |
Adjustments
|
| |
Total 2020
|
|
| Revenues | | |
5,984
|
| |
439
|
| |
1
|
| |
217
|
| |
128
|
| |
(128)
|
| |
6,641
|
|
| Total operating expenses | | |
5,771
|
| |
159
|
| |
24
|
| |
227
|
| |
178
|
| |
(127)
|
| |
6,232
|
|
| Fixed asset depreciation | | |
113
|
| |
109
|
| |
1
|
| |
11
|
| |
5
|
| |
1
|
| |
240
|
|
| Impairment and disposal of fixed assets | | |
-
|
| |
9
|
| |
-
|
| |
(18)
|
| |
-
|
| |
-
|
| |
(9)
|
|
| Operating profit/(loss) | | |
101
|
| |
180
|
| |
(23)
|
| |
(40)
|
| |
(55)
|
| |
-
|
| |
163
|
|
| Profit/(loss) on derivatives and other net financial income/(expense) | | |
(19)
|
| |
45
|
| |
(3)
|
| |
0
|
| |
(15)
|
| |
(2)
|
| |
6
|
|
| Net financial income/(expense) from financing | | |
1
|
| |
(206)
|
| |
0
|
| |
(7)
|
| |
(43)
|
| |
2
|
| |
(253)
|
|
| Net financial income/(expense) | | |
(18)
|
| |
(161)
|
| |
(3)
|
| |
(7)
|
| |
(58)
|
| |
-
|
| |
(247)
|
|
| Share of profits of equity-accounted companies | | |
1
|
| |
67
|
| |
(439)
|
| |
(2)
|
| |
-
|
| |
-
|
| |
(373)
|
|
| Profit/(loss) before tax from continuing operations | | |
84
|
| |
86
|
| |
(465)
|
| |
(49)
|
| |
(113)
|
| |
-
|
| |
(457)
|
|
| Income tax/(expense) | | |
(29)
|
| |
(8)
|
| |
7
|
| |
2
|
| |
63
|
| |
-
|
| |
35
|
|
| Profit/(loss) net of tax from continuing operations | | |
55
|
| |
78
|
| |
(458)
|
| |
(47)
|
| |
(50)
|
| |
-
|
| |
(422)
|
|
| Profit/(loss) net of tax from discontinued operations | | |
35
|
| |
-
|
| |
-
|
| |
-
|
| |
10
|
| |
-
|
| |
45
|
|
| Net profit/(loss) | | |
90
|
| |
78
|
| |
(458)
|
| |
(47)
|
| |
(40)
|
| |
-
|
| |
(377)
|
|
| Net profit/(loss) for the year attributed to non-controlling interests | | |
(42)
|
| |
(7)
|
| |
-
|
| |
1
|
| |
(3)
|
| |
-
|
| |
(51)
|
|
| Net profit/(loss) for the year attributed to parent company | | |
48
|
| |
71
|
| |
(458)
|
| |
(46)
|
| |
(43)
|
| |
-
|
| |
(428)
|
|
|
(Million euro)
|
| |
External sales
|
| |
Inter-segment sales
|
| |
2022 Total
|
| |
Var. %
|
|
| Construction | | |
5,432
|
| |
1,031
|
| |
6,463
|
| |
6%
|
|
| Toll roads | | |
779
|
| |
1
|
| |
780
|
| |
33%
|
|
| Airports | | |
54
|
| |
-
|
| |
54
|
| |
n.a.
|
|
| Energy and mobility infrastructures | | |
296
|
| |
-
|
| |
296
|
| |
17%
|
|
| Other activities (*) | | |
39
|
| |
139
|
| |
178
|
| |
13%
|
|
| Adjustments | | |
-
|
| |
(220)
|
| |
(220)
|
| |
33%
|
|
| Total | | |
6,600
|
| |
951
|
| |
7,551
|
| |
9%
|
|
|
(Million euro)
|
| |
External sales
|
| |
Inter-segment sales
|
| |
2021 Total
|
| |
Var. %
|
|
| Construction | | |
5,044
|
| |
1,033
|
| |
6,077
|
| |
2%
|
|
| Toll roads | | |
587
|
| |
1
|
| |
588
|
| |
34%
|
|
| Airports | | |
1
|
| |
1
|
| |
2
|
| |
100%
|
|
| Energy and mobility infrastructures | | |
252
|
| |
-
|
| |
252
|
| |
16%
|
|
| Other activities (*) | | |
3
|
| |
154
|
| |
157
|
| |
23%
|
|
| Adjustments | | |
-
|
| |
(166)
|
| |
(166)
|
| |
30%
|
|
| Total | | |
5,887
|
| |
1,023
|
| |
6,910
|
| |
4%
|
|
|
(Million euro)
|
| |
External sales
|
| |
Inter-segment sales
|
| |
2020 Total
|
|
| Construction | | |
4,955
|
| |
1,029
|
| |
5,984
|
|
| Toll roads | | |
438
|
| |
1
|
| |
439
|
|
| Airports | | |
1
|
| |
-
|
| |
1
|
|
| Other activities (*) | | |
217
|
| |
-
|
| |
217
|
|
| Energy and mobility infrastructures | | |
4
|
| |
124
|
| |
128
|
|
| Adjustments | | |
-
|
| |
(128)
|
| |
(128)
|
|
| Total | | |
5,614
|
| |
1,027
|
| |
6,641
|
|
|
(Million euro)
|
| |
2022
|
| |
2021
|
| |
Var. 22/21
|
| |
2020
|
| |
Var. 21/20
|
|
| USA | | |
2,906
|
| |
2,639
|
| |
267
|
| |
2,558
|
| |
81
|
|
| Poland | | |
1,842
|
| |
1,735
|
| |
107
|
| |
1,726
|
| |
9
|
|
| Spain | | |
1,154
|
| |
1,092
|
| |
62
|
| |
981
|
| |
111
|
|
| UK | | |
708
|
| |
644
|
| |
64
|
| |
524
|
| |
120
|
|
| Canada | | |
100
|
| |
80
|
| |
20
|
| |
87
|
| |
(7)
|
|
| Other | | |
841
|
| |
721
|
| |
120
|
| |
765
|
| |
(45)
|
|
| Total | | |
7,551
|
| |
6,910
|
| |
641
|
| |
6,641
|
| |
269
|
|
|
(Million euro)
|
| |
2022
|
| |
2021
|
| |
Var. 22/21
|
| |
2020
|
| |
Var. 21/20
|
|
| Subcontracted work | | |
2,975
|
| |
2,824
|
| |
151
|
| |
2,922
|
| |
(98)
|
|
| Leases | | |
256
|
| |
236
|
| |
20
|
| |
243
|
| |
(9)
|
|
| Repairs and maintenance | | |
89
|
| |
70
|
| |
19
|
| |
72
|
| |
(2)
|
|
| Independent professional services | | |
449
|
| |
331
|
| |
118
|
| |
283
|
| |
49
|
|
| Changes in provisions for liabilities (Note 6.3) | | |
(68)
|
| |
51
|
| |
(119)
|
| |
157
|
| |
(106)
|
|
| Other operating expenses | | |
481
|
| |
411
|
| |
70
|
| |
273
|
| |
139
|
|
| Total other operating expenses | | |
4,182
|
| |
3,923
|
| |
259
|
| |
3,950
|
| |
(28)
|
|
|
(Million euro)
|
| |
2022
|
| |
2021
|
| |
Var. 22/21
|
| |
2020
|
| |
Var. 21/20
|
|
| Wages and salaries | | |
1,111
|
| |
1,006
|
| |
105
|
| |
969
|
| |
37
|
|
| Social Security contributions | | |
158
|
| |
148
|
| |
10
|
| |
143
|
| |
5
|
|
| Pension plan contributions | | |
13
|
| |
10
|
| |
2
|
| |
10
|
| |
1
|
|
| Share-based payments | | |
8
|
| |
(9)
|
| |
17
|
| |
10
|
| |
(20)
|
|
| Other welfare expenses | | |
156
|
| |
138
|
| |
18
|
| |
151
|
| |
(13)
|
|
| TOTAL | | |
1,446
|
| |
1,293
|
| |
153
|
| |
1,282
|
| |
11
|
|
| | | |
12.31.2022
|
| |||||||||
|
CATEGORY
|
| |
MEN
|
| |
WOMEN
|
| |
TOTAL
|
| |
Var. 22/21
|
|
| Executive directors | | |
2
|
| |
-
|
| |
2
|
| |
-%
|
|
| Senior managers | | |
12
|
| |
1
|
| |
13
|
| |
-%
|
|
| Executives | | |
2,580
|
| |
635
|
| |
3,215
|
| |
8%
|
|
| Managers/Professionals/Super-visors | | |
4,117
|
| |
2,044
|
| |
6,161
|
| |
4%
|
|
| Administrative/ Support personnel | | |
565
|
| |
668
|
| |
1,233
|
| |
11%
|
|
| Manual workers | | |
12,864
|
| |
703
|
| |
13,567
|
| |
(2)%
|
|
| TOTAL | | |
20,140
|
| |
4,051
|
| |
24,191
|
| |
1%
|
|
|
CONTINUING OPERATIONS
|
| |
12.31.2021
|
| |||||||||
|
CATEGORY
|
| |
MEN
|
| |
WOMEN
|
| |
TOTAL
|
| |
Var. 21/20
|
|
| Executive directors | | |
2
|
| |
-
|
| |
2
|
| |
-%
|
|
| Senior managers | | |
12
|
| |
1
|
| |
13
|
| |
(7)%
|
|
| Executives | | |
2,442
|
| |
540
|
| |
2,982
|
| |
1%
|
|
| Managers/Professionals/Super-visors | | |
3,995
|
| |
1,930
|
| |
5,925
|
| |
(3)%
|
|
| Administrative/ Support personnel | | |
519
|
| |
589
|
| |
1,108
|
| |
(3)%
|
|
| Manual workers | | |
13,141
|
| |
762
|
| |
13,903
|
| |
59%
|
|
| TOTAL | | |
20,111
|
| |
3,822
|
| |
23,933
|
| |
26%
|
|
|
DISCONTINUED OPERATIONS
|
| |
12.31.2021
|
| |||||||||
|
CATEGORY
|
| |
MEN
|
| |
WOMEN
|
| |
TOTAL
|
| |
Var. 21/20
|
|
| Executive directors | | |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Senior managers | | |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Executives | | |
1,450
|
| |
437
|
| |
1,887
|
| |
12%
|
|
| Managers/Professionals/Supervisors | | |
4,995
|
| |
1,444
|
| |
6,439
|
| |
(11)%
|
|
| Administrative/ Support personnel | | |
110
|
| |
497
|
| |
607
|
| |
(50)%
|
|
| Manual workers | | |
13,717
|
| |
16,488
|
| |
30,205
|
| |
(41)%
|
|
| TOTAL | | |
20,272
|
| |
18,866
|
| |
39,138
|
| |
(36)%
|
|
|
CONTINUING OPERATIONS
|
| |
12.31.2020
|
| ||||||
|
CATEGORY
|
| |
MEN
|
| |
WOMEN
|
| |
TOTAL
|
|
| Executive directors | | |
2
|
| |
-
|
| |
2
|
|
| Senior managers | | |
13
|
| |
1
|
| |
14
|
|
| Executives | | |
2,465
|
| |
485
|
| |
2,950
|
|
| Managers/Professionals/Super-visors | | |
4,240
|
| |
1,844
|
| |
6,084
|
|
| Administrative/ Support personnel | | |
554
|
| |
585
|
| |
1,139
|
|
| Manual workers | | |
8,459
|
| |
276
|
| |
8,735
|
|
| TOTAL | | |
15,733
|
| |
3,191
|
| |
18,924
|
|
|
DISCONTINUED OPERATIONS
|
| |
12.31.2020
|
| ||||||
|
CATEGORY
|
| |
MEN
|
| |
WOMEN
|
| |
TOTAL
|
|
| Executive directors | | |
-
|
| |
-
|
| | | |
| Senior managers | | |
-
|
| |
-
|
| | | |
| Executives | | |
1,282
|
| |
397
|
| |
1,679
|
|
| Managers/Professionals/Super-visors | | |
5,243
|
| |
1,961
|
| |
7,204
|
|
| Administrative/ Support personnel | | |
356
|
| |
862
|
| |
1,218
|
|
| Manual workers | | |
31,549
|
| |
19,546
|
| |
51,095
|
|
| TOTAL | | |
38,430
|
| |
22,766
|
| |
61,196
|
|
| | | |
12.31.2022
|
| |||||||||
|
BUSINESS
|
| |
MEN
|
| |
WOMEN
|
| |
TOTAL
|
| |
VAR 22/21
|
|
| Construction | | |
15,316
|
| |
3,135
|
| |
18,451
|
| |
(3)%
|
|
| Toll roads | | |
373
|
| |
169
|
| |
542
|
| |
-%
|
|
| Airports | | |
192
|
| |
43
|
| |
235
|
| |
634%
|
|
| Energy and mobility infrastructures | | |
3,541
|
| |
415
|
| |
3,956
|
| |
1%
|
|
| Other | | |
261
|
| |
208
|
| |
469
|
| |
13%
|
|
| Total discontinued operations | | |
7,346
|
| |
3,352
|
| |
10,698
|
| |
-80%
|
|
| TOTAL | | |
27,029
|
| |
7,322
|
| |
34,351
|
| |
(56%)
|
|
| | | |
12.31.2021
|
| |||||||||
|
BUSINESS
|
| |
MEN
|
| |
WOMEN
|
| |
TOTAL
|
| |
VAR 21/20
|
|
| Construction | | |
16,059
|
| |
3,042
|
| |
19,101
|
| |
13%
|
|
| Toll roads | | |
385
|
| |
159
|
| |
544
|
| |
13%
|
|
| Airports | | |
22
|
| |
10
|
| |
32
|
| |
(16)%
|
|
| Energy and mobility infrastructures | | |
3,564
|
| |
374
|
| |
3,938
|
| |
41%
|
|
| Other | | |
229
|
| |
186
|
| |
415
|
| |
(60)%
|
|
| Total continuing operations | | |
20,259
|
| |
3,771
|
| |
24,030
|
| |
13%
|
|
| Total discontinued operations | | |
32,652
|
| |
21,851
|
| |
54,503
|
| |
(14)%
|
|
| TOTAL | | |
52,911
|
| |
25,622
|
| |
78,533
|
| | | |
| | | |
12.31.2020
|
| ||||||
|
BUSINESS
|
| |
MEN
|
| |
WOMEN
|
| |
TOTAL
|
|
| Construction | | |
14,132
|
| |
2,722
|
| |
16,854
|
|
| Toll roads | | |
328
|
| |
154
|
| |
482
|
|
| Airports | | |
24
|
| |
14
|
| |
38
|
|
| Energy and mobility infrastructures | | |
2,476
|
| |
314
|
| |
2,790
|
|
| Other | | |
773
|
| |
254
|
| |
1,027
|
|
| Total continuing operations | | |
17,733
|
| |
3,459
|
| |
21,192
|
|
| Total discontinued operations | | |
39,829
|
| |
23,285
|
| |
63,114
|
|
| TOTAL | | |
57,562
|
| |
26,744
|
| |
84,306
|
|
|
2022
|
| | | | | | | | | | | | |
|
(Million euro)
|
| |
Before fair value
adjustments |
| |
Fair value
adjustments |
| |
Total 2022
|
| |
Impact on net
profit/(loss) |
|
| Algarve sale | | |
(3)
|
| |
-
|
| |
(3)
|
| |
(3)
|
|
| Capital gains and disposals | | |
(3)
|
| |
-
|
| |
(3)
|
| |
(3)
|
|
| Impairment of the ownership interest in MaaS Global | | |
(3)
|
| |
-
|
| |
(3)
|
| |
(3)
|
|
| Impairment gains/(losses) | | |
(3)
|
| |
-
|
| |
(3)
|
| |
(3)
|
|
| TOTAL IMPAIRMENT AND DISPOSALS | | |
(6)
|
| |
-
|
| |
(6)
|
| |
(6)
|
|
|
2021
|
| | | | | | | | | | | | |
|
(Million euro)
|
| |
Before fair value
adjustments |
| |
Fair value
adjustments |
| |
Total 2021
|
| |
Impact on net
profit/(loss) |
|
|
Acquisition of 5.704% of I-66
|
| |
16
|
| |
1,101
|
| |
1,117
|
| |
1,117
|
|
| Nalanda sale | | |
17
|
| |
-
|
| |
17
|
| |
17
|
|
| Urbicsa sale | | |
17
|
| |
-
|
| |
17
|
| |
17
|
|
| Nevasa sale | | |
1
|
| |
-
|
| |
1
|
| |
1
|
|
| Figueras sale | | |
(9)
|
| |
-
|
| |
(9)
|
| |
(9)
|
|
| Capital gains and disposals | | |
41
|
| |
1,101
|
| |
1,142
|
| |
1,142
|
|
| Fixed asset impairment losses FB Serwis | | |
(3)
|
| |
-
|
| |
(3)
|
| |
(3)
|
|
| Impairment gains/(losses) | | |
(3)
|
| |
-
|
| |
(3)
|
| |
(3)
|
|
| TOTAL IMPAIRMENT AND DISPOSALS | | |
38
|
| |
1,101
|
| |
1,139
|
| |
1,139
|
|
|
2020
|
| | | | | | | | | | | | |
|
(Million euro)
|
| |
Before fair value
adjustments |
| |
Fair value
adjustments |
| |
Total 2020
|
| |
Impact on net
profit/(loss) |
|
| Sale of Zity ownership interest | | |
2
|
| |
5
|
| |
7
|
| |
7
|
|
| Sale of the stake in the Portuguese toll roads | | |
(2)
|
| |
0
|
| |
(2)
|
| |
(1)
|
|
| Capital gains and disposals | | |
0
|
| |
5
|
| |
5
|
| |
6
|
|
| Autema | | |
0
|
| |
10
|
| |
10
|
| |
6
|
|
| Mining Services Chile | | |
(24)
|
| |
0
|
| |
(24)
|
| |
(24)
|
|
| Impairment gains/(losses) | | |
(24)
|
| |
10
|
| |
(14)
|
| |
(18)
|
|
| TOTAL IMPAIRMENT AND DISPOSALS | | |
(24)
|
| |
15
|
| |
(9)
|
| |
(13)
|
|
|
(Million euro)
|
| |
2022
|
| |
2021
|
| |
Change (%)
|
|
| Financial income from infrastructure project financing | | |
8
|
| |
-
|
| |
n/a
|
|
| Financial expense from infrastructure project financing | | |
(251)
|
| |
(220)
|
| |
14%
|
|
| Net financial income/(expense) from financing, infrastructure project companies | | |
(243)
|
| |
(220)
|
| |
10%
|
|
| Net financial income/(expense) from derivatives and other fair value adjustments, infrastructure project companies | | |
(105)
|
| |
(84)
|
| |
25%
|
|
| Other net financial income/(expense), infrastructure project companies | | |
(17)
|
| |
(3)
|
| |
467%
|
|
| Other net financial income/(expense), infrastructure project companies | | |
(122)
|
| |
(87)
|
| |
40%
|
|
| Net financial income/(expense) from infrastructure projects | | |
(365)
|
| |
(307)
|
| |
19%
|
|
| Financial income, other companies | | |
104
|
| |
24
|
| |
333%
|
|
| Financial expense, other companies | | |
(103)
|
| |
(51)
|
| |
102%
|
|
| Net financial income/(expense) from financing, other companies | | |
1
|
| |
(27)
|
| |
(104)%
|
|
| Net financial income/(expense) from derivatives and other fair value adjustments, other companies (*) | | |
47
|
| |
1
|
| |
4,600%
|
|
| Other net financial income/(expense), other companies | | |
0
|
| |
1
|
| |
120%
|
|
| Other net financial income/(expense), other companies | | |
47
|
| |
2
|
| |
(2.500)%
|
|
| Net financial income/(expense), other companies | | |
48
|
| |
(25)
|
| |
(290)%
|
|
| Total Net financial income/(expense) | | |
(317)
|
| |
(332)
|
| |
(5)%
|
|
|
shade;0;15 (Million euro)
|
| |
2021
|
| |
2020
|
| |
Change (%)
|
|
| Financial income from infrastructure project financing | | |
-
|
| |
8
|
| |
(100)%
|
|
| Financial expense from infrastructure project financing | | |
(220)
|
| |
(252)
|
| |
13%
|
|
| Net financial income/(expense) from infrastructure project financing | | |
(220)
|
| |
(244)
|
| |
11%
|
|
| Profit/(loss) on derivatives and other fair value adjustments from infrastructure projects | | |
(84)
|
| |
39
|
| |
215%
|
|
| Other net financial income/(expense) from infrastructure projects | | |
(3)
|
| |
(2)
|
| |
50%
|
|
| Other net financial income/(expense) from infrastructure projects | | |
(87)
|
| |
37
|
| |
235%
|
|
|
Total net financial income/(expense) from infrastructure projects
|
| |
(307)
|
| |
(207)
|
| |
(48)%
|
|
| Financial income from other company financing | | |
24
|
| |
43
|
| |
(44)%
|
|
| Financial expense from other company financing | | |
(51)
|
| |
(52)
|
| |
(2)%
|
|
| Net financial income/(expense) from other company financing | | |
(27)
|
| |
(9)
|
| |
(200)%
|
|
| Profit/(loss) on derivatives and other fair value adjustments from other companies (*) | | |
1
|
| |
5
|
| |
(80)%
|
|
| Net financial income/(expense) from other companies | | |
1
|
| |
(36)
|
| |
(103)%
|
|
| Other net financial income/(expense) from other companies | | |
2
|
| |
(31)
|
| |
(106)%
|
|
| Total net financial income/(expense) from other companies | | |
(25)
|
| |
(40)
|
| |
(37)%
|
|
| NET FINANCIAL INCOME /(EXPENSE) | | |
(332)
|
| |
(247)
|
| |
34%
|
|
|
Infrastructure project financing expenses from infrastructures
(Million euro) |
| |
2022
|
| |
2021
|
| |
2020
|
|
| Accrued financial expenses | | |
(347)
|
| |
(257)
|
| |
(278)
|
|
| Expenses capitalized during the construction period | | |
96
|
| |
37
|
| |
26
|
|
| Financial expenses in P&L | | |
(251)
|
| |
(220)
|
| |
(252)
|
|
|
Profit/(Loss) of equity-accounted companies
(Million euro) |
| |
2022
|
| |
2021
|
| |
2020
|
|
| HAH | | |
-
|
| |
(238)
|
| |
(396)
|
|
| 407 ETR | | |
124
|
| |
52
|
| |
33
|
|
| AGS | | |
-
|
| |
(20)
|
| |
(51)
|
|
| JFK | | |
1
|
| |
-
|
| |
-
|
|
| IRB | | |
22
|
| |
-
|
| |
-
|
|
| Other | | |
18
|
| |
28
|
| |
41
|
|
| TOTAL | | |
165
|
| |
(178)
|
| |
(373)
|
|
|
2022
(Million euro) |
| |
SPAIN
|
| |
UKv
|
| |
USA
|
| |
POLAND
|
| |
CANADA
|
| |
REST OF
COUNTRIES |
| |
TOTAL
|
|
| Profit/(loss) before tax | | |
(93)
|
| |
(37)
|
| |
82
|
| |
138
|
| |
171
|
| |
10
|
| |
271
|
|
| Profit/(loss) from equity-accounted companies | | |
(15)
|
| |
7
|
| |
(1)
|
| |
-
|
| |
(127)
|
| |
(29)
|
| |
(165)
|
|
| Other adjustments | | |
114
|
| |
1
|
| |
(74)
|
| |
24
|
| |
1
|
| |
(18)
|
| |
48
|
|
| Taxable income/(expense) | | |
6
|
| |
(29)
|
| |
7
|
| |
162
|
| |
45
|
| |
(37)
|
| |
154
|
|
| Taxable expense for the year | | |
(5)
|
| |
6
|
| |
(2)
|
| |
(21)
|
| |
(11)
|
| |
3
|
| |
(30)
|
|
| Change to prior-year tax evaluation and other adjustments | | |
5
|
| |
(1)
|
| |
2
|
| |
(8)
|
| |
(1)
|
| |
8
|
| |
5
|
|
| Adjusted tax expense | | |
-
|
| |
5
|
| |
-
|
| |
(29)
|
| |
(12)
|
| |
11
|
| |
(25)
|
|
| Effective rate applicable to taxable income/(expense) | | |
5%
|
| |
19%
|
| |
-%
|
| |
18%
|
| |
27%
|
| |
31%
|
| |
16%
|
|
| Effective national tax rate (*) | | |
25%
|
| |
19%
|
| |
23%
|
| |
19%
|
| |
27%
|
| | | | |
|
|
|
2021
(Million euro) |
| |
SPAIN
|
| |
UK
|
| |
USA
|
| |
POLAND
|
| |
CANADA
|
| |
REST OF
COUNTRIES |
| |
TOTAL
|
|
| Profit/(loss) before tax | | |
(80)
|
| |
(263)
|
| |
1,144
|
| |
123
|
| |
62
|
| |
(17)
|
| |
969
|
|
| Profit/(loss) from equity-accounted companies | | |
(8)
|
| |
253
|
| |
-
|
| |
-
|
| |
(54)
|
| |
(14)
|
| |
178
|
|
| Purchase of 5.704% of I-66 Express Mobility Partners LLC | | |
-
|
| |
-
|
| |
(1,117)
|
| |
-
|
| |
-
|
| |
-
|
| |
(1,117)
|
|
| Other adjustments | | |
(44)
|
| |
(17)
|
| |
(42)
|
| |
(20)
|
| |
1
|
| |
6
|
| |
(115)
|
|
| Taxable income/(expense) | | |
(132)
|
| |
(26)
|
| |
(15)
|
| |
104
|
| |
10
|
| |
(25)
|
| |
(84)
|
|
| Taxable expense for the year | | |
57
|
| |
6
|
| |
10
|
| |
(19)
|
| |
(3)
|
| |
(41)
|
| |
9
|
|
| Change to prior-year tax evaluation and other adjustments | | |
(23)
|
| |
(1)
|
| |
(6)
|
| |
-
|
| |
-
|
| |
47
|
| |
17
|
|
| Adjusted tax expense | | |
34
|
| |
5
|
| |
4
|
| |
(20)
|
| |
(3)
|
| |
6
|
| |
26
|
|
| Effective rate applicable to taxable income/(expense) | | |
25%
|
| |
20%
|
| |
25%
|
| |
19%
|
| |
26%
|
| |
24%
|
| |
31%
|
|
| Effective national tax rate (*) | | |
25%
|
| |
19%
|
| |
23%
|
| |
19%
|
| |
27%
|
| | | | |
|
|
|
2020
(Million euro) |
| |
SPAIN
|
| |
UK
|
| |
USA
|
| |
POLAND
|
| |
CANADA
|
| |
REST OF
COUNTRIES |
| |
TOTAL
|
|
| Profit/(loss) before tax | | |
(68)
|
| |
(460)
|
| |
(76)
|
| |
115
|
| |
45
|
| |
(12)
|
| |
(457)
|
|
| Profit/(loss) from equity-accounted companies | | |
(9)
|
| |
447
|
| |
-
|
| |
-
|
| |
(35)
|
| |
(31)
|
| |
373
|
|
| Other adjustments | | |
(4)
|
| |
18
|
| |
33
|
| |
28
|
| |
7
|
| |
36
|
| |
118
|
|
| Taxable income/(expense) | | |
(82)
|
| |
5
|
| |
(44)
|
| |
143
|
| |
17
|
| |
(7)
|
| |
33
|
|
| Taxable expense for the year | | |
56
|
| |
-
|
| |
23
|
| |
(25)
|
| |
(5)
|
| |
(13)
|
| |
35
|
|
| Change to prior-year tax evaluation and other adjustments | | |
(36)
|
| |
(1)
|
| |
(12)
|
| |
(2)
|
| |
-
|
| |
6
|
| |
(44)
|
|
| Adjusted tax expense | | |
20
|
| |
(1)
|
| |
11
|
| |
(27)
|
| |
(5)
|
| |
(7)
|
| |
(9)
|
|
| Effective rate applicable to taxable income | | |
24%
|
| |
19%
|
| |
25%
|
| |
19%
|
| |
27%
|
| | | | |
16%
|
|
| Effective national tax rate (*) | | |
25%
|
| |
19%
|
| |
23%
|
| |
19%
|
| |
27%
|
| | | | | | |
|
(Million euro)
|
| |
2022
|
| |
2021
|
| |
2020
|
|
| Tax expense for the year | | |
(30)
|
| |
9
|
| |
35
|
|
| Current tax expense | | |
(64)
|
| |
(31)
|
| |
(70)
|
|
| Deferred tax expense | | |
42
|
| |
50
|
| |
62
|
|
| Withholdings in a foreign operation | | |
(21)
|
| |
(3)
|
| |
(1)
|
|
| Change to the prior-year tax evaluation and other | | |
13
|
| |
(7)
|
| |
44
|
|
|
ASSETS
|
| | | | | | | | | | | | | | | | | | |
|
(Million euro)
|
| |
2021
|
| |
Prior years,
transfers and others |
| |
Charged/
credited profit or loss |
| |
Charged/
credited to equity |
| |
Foreign
exchange effect |
| |
2022
|
|
| Tax credits | | |
192
|
| |
21
|
| |
145
|
| |
2
|
| |
10
|
| |
370
|
|
| Differences between tax and accounting criteria | | |
304
|
| |
(2)
|
| |
(26)
|
| |
-
|
| |
(3)
|
| |
274
|
|
| Equity measurement adjustment | | |
90
|
| |
12
|
| |
18
|
| |
(34)
|
| |
-
|
| |
86
|
|
| Other items | | |
(16)
|
| |
34
|
| |
8
|
| |
27
|
| |
2
|
| |
55
|
|
| Total | | |
570
|
| |
66
|
| |
145
|
| |
(5)
|
| |
9
|
| |
784
|
|
|
LIABILITIES
|
| | | | | | | | | | | | | | | | | | |
|
(Million euro)
|
| |
2021
|
| |
Prior years,
transfers and others |
| |
Charged/
credited profit or loss |
| |
Charged/
credited to equity |
| |
Foreign
exchange effect |
| |
2022
|
|
| Deferred taxes on goodwill | | |
20
|
| |
-
|
| |
1
|
| |
-
|
| |
-
|
| |
21
|
|
| Deferred fair value adjustment | | |
255
|
| |
44
|
| |
-
|
| |
-
|
| |
16
|
| |
315
|
|
| Differences between tax and accounting approach taxes | | |
277
|
| |
(10)
|
| |
99
|
| |
2
|
| |
10
|
| |
378
|
|
| Equity measurement adjustments | | |
45
|
| |
-
|
| |
2
|
| |
18
|
| |
(1)
|
| |
64
|
|
| Other items | | |
90
|
| |
55
|
| |
1
|
| |
-
|
| |
(1)
|
| |
145
|
|
| Total | | |
687
|
| |
89
|
| |
103
|
| |
20
|
| |
25
|
| |
924
|
|
|
ASSETS
|
| | | | | | | | | | | | | | | | | | |
|
(Million euro)
|
| |
2020
|
| |
Prior year,
transfers and others |
| |
Charged/
credited profit or loss |
| |
Charged/
credited to equity |
| |
Foreign
exchange effect |
| |
2021
|
|
| Tax credits | | |
130
|
| |
4
|
| |
47
|
| |
-
|
| |
9
|
| |
192
|
|
|
Differences between tax and accounting
|
| |
345
|
| |
16
|
| |
(21)
|
| |
(8)
|
| |
2
|
| |
304
|
|
| Equity measurement adjustments | | |
110
|
| |
4
|
| |
4
|
| |
(29)
|
| |
-
|
| |
90
|
|
| Other items | | |
27
|
| |
(18)
|
| |
(55)
|
| |
-
|
| |
1
|
| |
(16)
|
|
| Total | | |
613
|
| |
6
|
| |
(25)
|
| |
(37)
|
| |
12
|
| |
570
|
|
|
LIABILITIES
|
| | | | | | | | | | | | | | | | | | |
|
(Million euro)
|
| |
2020
|
| |
Prior year,
transfers and others |
| |
Charged/
credited profit or loss |
| |
Charged/
credited to Equity |
| |
Foreign
exchange effect |
| |
2021
|
|
| Deferred taxes on goodwill | | |
35
|
| |
7
|
| |
(12)
|
| |
(11)
|
| |
1
|
| |
20
|
|
| Deferred fair value | | |
-
|
| |
257
|
| |
-
|
| |
-
|
| |
(3)
|
| |
255
|
|
|
Differences between tax and accounting
|
| |
317
|
| |
7
|
| |
(59)
|
| |
1
|
| |
14
|
| |
277
|
|
| Equity measurement adjustments | | |
66
|
| |
5
|
| |
-
|
| |
(26)
|
| |
-
|
| |
45
|
|
| Other items | | |
39
|
| |
53
|
| |
(4)
|
| |
-
|
| |
1
|
| |
90
|
|
| Total | | |
457
|
| |
328
|
| |
(75)
|
| |
(36)
|
| |
13
|
| |
687
|
|
|
Continuing operations
|
| | | | | | | | | | | | |
|
(Million euro)
Country |
| |
Tax-loss carryforwards
|
| |
Limitation period
|
| |
Maximum tax credit
|
| |
Tax credit recognized
|
|
| Spanish tax consolidated group | | |
642
|
| |
No expiry date
|
| |
160
|
| |
-
|
|
| US tax consolidated group | | |
1,564
|
| |
No expiry date
|
| |
328
|
| |
274
|
|
| Turkey | | |
105
|
| |
2023-2028
|
| |
21
|
| |
-
|
|
| Canada | | |
137
|
| |
2023-2042
|
| |
36
|
| |
11
|
|
| UK | | |
193
|
| |
No expiry date
|
| |
48
|
| |
17
|
|
| Other | | |
461
|
| |
2023- No expiry date
|
| |
119
|
| |
66
|
|
| Total | | |
3,102
|
| | | | |
712
|
| |
368
|
|
|
Continuing operations
|
| | | | | | | | | | | | |
|
(Million euro)
Country |
| |
Tax-loss carryforwards
|
| |
Limitation period
|
| |
Maximum tax credit
|
| |
Tax credit recognized
|
|
| Spanish consolidated tax group | | |
508
|
| |
No expiry date
|
| |
127
|
| |
-
|
|
| US consolidated tax group | | |
1,091
|
| |
No expiry date
|
| |
229
|
| |
146
|
|
| Canada | | |
105
|
| |
2023-2042
|
| |
28
|
| |
11
|
|
| UK | | |
208
|
| |
No expiry date
|
| |
39
|
| |
16
|
|
| Portugal | | |
72
|
| |
2025-2032
|
| |
16
|
| |
2
|
|
| Other | | |
254
|
| |
2022-No expiry date
|
| |
60
|
| |
15
|
|
| Total | | |
2,238
|
| | | | |
500
|
| |
190
|
|
|
Discontinued operations
|
| | | | | | | | | | | | |
|
(Million euro)
Country |
| |
Tax-loss carryforwards
|
| |
Limitation period
|
| |
Maximum tax credit
|
| |
Tax credit recognized
|
|
| UK | | |
616
|
| |
No expiry date
|
| |
117
|
| |
-
|
|
| Other | | |
4
|
| |
No expiry date
|
| |
1
|
| |
1
|
|
| Total | | |
619
|
| | | | |
118
|
| |
1
|
|
|
(Million euro)
|
| |
2022
|
| |
2021
|
| |
2020
|
|
| Revenue | | |
2,303
|
| |
4,947
|
| |
5,418
|
|
| Operating profit/(loss) | | |
9
|
| |
260
|
| |
(44)
|
|
| Net financial income/(expense) | | |
(1)
|
| |
(23)
|
| |
(33)
|
|
| Share of profits of equity-accounted companies | | |
5
|
| |
9
|
| |
9
|
|
| Consolidated profit/(loss) before tax | | |
13
|
| |
246
|
| |
(68)
|
|
| Corporate income tax | | |
(10)
|
| |
(47)
|
| |
(26)
|
|
| Profit/(loss) after tax | | |
3
|
| |
199
|
| |
(94)
|
|
| Profit/(loss) for the year attributed to non- controlling interests | | |
-
|
| |
(3)
|
| |
(2)
|
|
| Profit/(loss) for the year attributed to the parent company | | |
3
|
| |
196
|
| |
(96)
|
|
| Adjustments to discontinued operations | | |
61
|
| |
50
|
| |
106
|
|
| Profit/(loss) from discontinued operations | | |
64
|
| |
246
|
| |
10
|
|
|
Construction Division (Million euro)
|
| |
2021
|
| |
2020
|
|
| Revenue | | |
56
|
| |
151
|
|
| Fixed asset depreciation | | |
-
|
| |
(1)
|
|
| Operating profit/(loss) before impairment and disposal of fixed assets | | |
9
|
| |
43
|
|
| Impairment and disposal of fixed assets | | |
130
|
| |
-
|
|
| Operating profit/(loss) | | |
139
|
| |
43
|
|
| Net financial income/(expense) | | |
-
|
| |
1
|
|
| Share of profits of equity-accounted companies | | |
-
|
| |
-
|
|
| Consolidated profit/(loss) before tax | | |
139
|
| |
44
|
|
| Corporate income tax | | |
(24)
|
| |
(9)
|
|
| Profit/(loss) from discontinued operations | | |
115
|
| |
35
|
|
|
(Million euro)
|
| |
2022
|
| |
2021
|
| |
Var. 22/21
|
| |
% Non-group
|
|
| Budimex Group | | |
(60)
|
| |
(109)
|
| |
49
|
| |
50%
|
|
| Autop. Terrassa Manresa, S.A. | | |
19
|
| |
14
|
| |
5
|
| |
24%
|
|
| LBJ Infrastructure Group | | |
(9)
|
| |
2
|
| |
(11)
|
| |
45%
|
|
| NTE Mobility Partners | | |
(47)
|
| |
(25)
|
| |
(22)
|
| |
37%
|
|
| NTE Mobility Partners Segments 3 LLC | | |
(33)
|
| |
(20)
|
| |
(13)
|
| |
46%
|
|
| FAM Construction LLC | | |
26
|
| |
7
|
| |
19
|
| |
30%
|
|
| Sugar Creek Construction LLC | | |
(2)
|
| |
(1)
|
| |
(1)
|
| |
30%
|
|
| I-77 Mobility Partners | | |
(6)
|
| |
(1)
|
| |
(5)
|
| |
28%
|
|
| I-66 Mobility Partners | | |
10
|
| |
-
|
| |
10
|
| |
44%
|
|
| YDA Havalimani Yatrim Ve (Dalaman) | | |
(8)
|
| |
-
|
| |
(8)
|
| |
40%
|
|
| Other companies | | |
(7)
|
| |
(1)
|
| |
(6)
|
| | | |
| TOTAL continuing operations | | |
(117)
|
| |
(134)
|
| |
17
|
| | | |
| TOTAL discontinued operations | | |
-
|
| |
(3)
|
| |
3
|
| | | |
| Total | | |
(117)
|
| |
(138)
|
| |
22
|
| | | |
|
(Million euro)
|
| |
2021
|
| |
2020
|
| |
Var. 21/20
|
| |
% Non-group
|
|
| Budimex Group | | |
(109)
|
| |
(54)
|
| |
(55)
|
| |
45%
|
|
| Autop.Terrassa Manresa, S.A. | | |
14
|
| |
(11)
|
| |
25
|
| |
24%
|
|
| LBJ Infrastructure Group | | |
2
|
| |
20
|
| |
(18)
|
| |
45%
|
|
| NTE Mobility Partners | | |
(25)
|
| |
(12)
|
| |
(13)
|
| |
37%
|
|
| NTE Mobility Partners Segments 3 LLC | | |
(20)
|
| |
(8)
|
| |
(12)
|
| |
46%
|
|
| FAM Construction LLC | | |
7
|
| |
16
|
| |
(10)
|
| |
30%
|
|
| Sugar Creek Construction LLC | | |
(1)
|
| |
8
|
| |
(9)
|
| |
30%
|
|
| Other companies | | |
(2)
|
| |
(6)
|
| |
4
|
| | | |
| TOTAL continuing operations | | |
(134)
|
| |
(48)
|
| |
(86)
|
| | | |
| TOTAL discontinued operations | | |
(3)
|
| |
(3)
|
| |
-
|
| | | |
| Total | | |
(138)
|
| |
(51)
|
| |
(87)
|
| | | |
|
(Million euro, except otherwise indicated)
|
| |
2022
|
| |
2021
|
| |
2020
|
|
| Net profit/(loss) attributable to ordinary equity holders of the parent: | | |
|
| | | | | | |
|
Continuing operations
|
| |
124
|
| |
843
|
| |
(470)
|
|
|
Discontinued operations
|
| |
64
|
| |
358
|
| |
42
|
|
| Net cost of subordinated perpetual bond | | |
(8)
|
| |
(8)
|
| |
(8)
|
|
| Profit / (loss) attributable to ordinary equity holders of the parent for basic earnings | | |
180
|
| |
1,193
|
| |
(436)
|
|
| Effects of dilution | | |
0
|
| |
0
|
| |
0
|
|
| Profit / (loss) attributable to ordinary equity holders of the parent adjusted for the effect of dilution | | |
180
|
| |
1,193
|
| |
(436)
|
|
| Weighted average number of ordinary shares for basic EPS (*) (thousands of shares) | | |
723,477
|
| |
731,772
|
| |
732,277
|
|
| Effects of dilution | | |
0
|
| |
0
|
| |
0
|
|
| Weighted average number of ordinary shares adjusted for the effect of dilution (thousands of shares) | | |
723,477
|
| |
731,772
|
| |
732,277
|
|
| | | |
|
| | | | | | |
| Profit / (loss) attributable to ordinary equity holders of the parent from discontinued operations for the basic EPS calculations | | |
64
|
| |
358
|
| |
42
|
|
| Effects of dilution | | |
0
|
| |
0
|
| |
0
|
|
| Profit / (loss) attributable to ordinary equity holders of the parent from discontinued operations for the diluted EPS calculations | | |
64
|
| |
358
|
| |
42
|
|
| | | | | | |
2022
|
| |
2021
|
| |
2020
|
|
|
Net earnings per share attributed to the parent company (in euros)
|
| |
Diluted
|
| |
0.25
|
| |
1.63
|
| |
(0.60)
|
|
|
Basic
|
| |
0.25
|
| |
1.63
|
| |
(0.60)
|
| |||
|
Net earnings per share attributed to the parent company discontinued Operations (in euros)
|
| |
Diluted
|
| |
0.09
|
| |
0.49
|
| |
0.05
|
|
|
Basic
|
| |
0.09
|
| |
0.49
|
| |
0.05
|
|
|
INVESTMENT IN INFRASTRUCTURE PROJECTS
(Million euro) |
| |
2022
|
| |
2021
|
|
| Opening balance at 01.01 | | |
11,185
|
| |
6,356
|
|
| Additions | | |
1,398
|
| |
292
|
|
| Depreciation | | |
(145)
|
| |
(111)
|
|
| Disposals | | |
(12)
|
| |
(126)
|
|
| Exchange rate effect | | |
608
|
| |
353
|
|
| Changes in the scope of consolidation and others | | |
633
|
| |
4,421
|
|
| Closing balance at 12.31 | | |
13,667
|
| |
11,185
|
|
|
INVESTMENT IN ASSOCIATES
(Million euro) |
| |
2022
|
| |
2021
|
|
| Opening balance at 01.01 | | |
1,838
|
| |
1,727
|
|
| Share of profit | | |
164
|
| |
(178)
|
|
| Exchange rate effect | | |
(29)
|
| |
107
|
|
| Dividends | | |
(258)
|
| |
(190)
|
|
| Changes in the scope of consolidation | | |
(111)
|
| |
329
|
|
| Other | | |
347
|
| |
43
|
|
| Closing balance at 12.31 | | |
1,951
|
| |
1,838
|
|
|
(Million euro)
|
| |
BALANCE AT
12.31.2021 |
| |
Changes in
consolidation scope and other |
| |
Exchange rate
|
| |
BALANCE AT
12.31.2022 |
|
| Construction | | |
127
|
| |
2
|
| |
3
|
| |
132
|
|
| Budimex | | |
64
|
| |
2
|
| |
(1)
|
| |
65
|
|
| Webber | | |
50
|
| |
13
|
| |
4
|
| |
67
|
|
| Ferrovial Services Infrastructure | | |
13
|
| |
(13)
|
| |
-
|
| |
-
|
|
| Toll Roads | | |
251
|
| |
-
|
| |
14
|
| |
265
|
|
| I-66 Express Mobility Partners Hold. LLC | | |
251
|
| |
-
|
| |
14
|
| |
265
|
|
| Airports | | |
-
|
| |
27
|
| |
-
|
| |
27
|
|
| Dalaman | | |
-
|
| |
27
|
| |
-
|
| |
27
|
|
| Energy Infrastructures | | |
52
|
| |
-
|
| |
3
|
| |
56
|
|
| Power Transmission Serv. Chile | | |
42
|
| |
-
|
| |
3
|
| |
45
|
|
| Mining Services Chile | | |
10
|
| |
-
|
| |
1
|
| |
11
|
|
| TOTAL | | |
431
|
| |
29
|
| |
19
|
| |
479
|
|
|
(Million euro)
|
| |
BALANCE AT
12.31.2020 |
| |
Changes in
consolidation scope and other |
| |
Exchange rate
|
| |
BALANCE AT
12.31.2021 |
|
| Construction | | |
181
|
| |
(60)
|
| |
7
|
| |
127
|
|
| Budimex | | |
64
|
| |
-
|
| |
-
|
| |
64
|
|
| Webber | | |
105
|
| |
(60)
|
| |
6
|
| |
50
|
|
| Ferrovial Services Infrastructure | | |
12
|
| |
-
|
| |
1
|
| |
13
|
|
| Toll Roads | | |
-
|
| |
254
|
| |
(3)
|
| |
251
|
|
| I-66 Express Mobility Partners Hold. LLC | | |
-
|
| |
254
|
| |
(3)
|
| |
251
|
|
| Energy Infrastructures | | |
50
|
| |
-
|
| |
2
|
| |
52
|
|
| Power Transmission Serv. Chile | | |
39
|
| |
-
|
| |
3
|
| |
42
|
|
| Mining Services Chile | | |
11
|
| |
-
|
| |
(1)
|
| |
10
|
|
| TOTAL | | |
231
|
| |
194
|
| |
6
|
| |
431
|
|
|
(Million euro)
|
| |
BALANCE AT
01.01.2022 |
| |
TOTAL
ADDITIONS |
| |
TOTAL
DISPOSALS |
| |
FOREIGN
EXCHANGE EFFECT |
| |
CONSOLIDATION
SCOPE CHANGES AND TRANSFERS |
| |
BALANCE AT
12.31.2022 |
|
| Spanish toll roads | | |
713
|
| |
-
|
| |
-
|
| |
-
|
| |
1
|
| |
714
|
|
| US toll roads | | |
10,527
|
| |
1,388
|
| |
-
|
| |
632
|
| |
-
|
| |
12,547
|
|
| Other toll roads | | |
391
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
391
|
|
| Toll road investment | | |
11,632
|
| |
1,388
|
| |
-
|
| |
632
|
| |
1
|
| |
13,653
|
|
| Accumulated depreciation/ amortization | | |
(617)
|
| |
(145)
|
| |
-
|
| |
(19)
|
| |
-
|
| |
(781)
|
|
| Net investment in toll roads | | |
11,014
|
| |
1,244
|
| |
-
|
| |
613
|
| |
1
|
| |
12,872
|
|
|
Investment in other infrastructure projects
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
632
|
| |
632
|
|
|
Depreciation/amortization in other infrastructure projects
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Total net investment in other infrastructure projects | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
632
|
| |
632
|
|
| TOTAL INVESTMENT | | |
11,632
|
| |
1,388
|
| |
-
|
| |
632
|
| |
633
|
| |
14,285
|
|
|
TOTAL DEPRECIATION/AMORTIZATION AND PROVISION
|
| |
(617)
|
| |
(145)
|
| |
-
|
| |
(19)
|
| |
-
|
| |
(781)
|
|
| TOTAL INVESTMENT | | |
11,014
|
| |
1,243
|
| |
-
|
| |
613
|
| |
633
|
| |
13,504
|
|
|
(Million euro)
|
| |
BALANCE AT
01.01.2021 |
| |
TOTAL
ADDITIONS |
| |
TOTAL
DISPOSALS |
| |
FOREIGN
EXCHANGE EFFECT |
| |
CONSOLIDATION
SCOPE CHANGES AND TRANSFERS |
| |
BALANCE AT
12.31.2021 |
|
| Spanish toll roads | | |
715
|
| |
-
|
| |
(5)
|
| |
-
|
| |
3
|
| |
713
|
|
| US toll roads | | |
5,553
|
| |
292
|
| |
(118)
|
| |
369
|
| |
4,432
|
| |
10,527
|
|
| Other toll roads | | |
391
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
391
|
|
| Toll road investment | | |
6,658
|
| |
292
|
| |
(123)
|
| |
369
|
| |
4,435
|
| |
11,632
|
|
| Accumulated depreciation/ amortization | | |
(484)
|
| |
(111)
|
| |
-
|
| |
(21)
|
| |
(2)
|
| |
(617)
|
|
| Net investment in toll roads | | |
6,174
|
| |
181
|
| |
(123)
|
| |
348
|
| |
4,433
|
| |
11,014
|
|
|
Investment in other infrastructure projects
|
| |
15
|
| |
-
|
| |
-
|
| |
-
|
| |
(15)
|
| |
-
|
|
|
Depreciation/amortization in other infrastructure projects
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
|
Total net investment in other infrastructure projects
|
| |
15
|
| |
-
|
| |
-
|
| |
-
|
| |
(15)
|
| |
-
|
|
| TOTAL INVESTMENT | | |
6,674
|
| |
292
|
| |
(123)
|
| |
369
|
| |
4,418
|
| |
11,632
|
|
|
TOTAL DEPRECIATION/AMORTIZATION AND PROVISION
|
| |
(484)
|
| |
(111)
|
| |
-
|
| |
(21)
|
| |
(2)
|
| |
(617)
|
|
| TOTAL INVESTMENT | | |
6,190
|
| |
181
|
| |
(123)
|
| |
348
|
| |
4,416
|
| |
11,014
|
|
|
(Million euro)
|
| |
INFRASTRUCTURE
PROJECT RECEIVABLES 2022 |
| |
INFRASTRUCTURE
PROJECT RECEIVABLES 2021 |
|
| OPENING BALANCE | | |
169
|
| |
166
|
|
| Additions | | |
9
|
| |
-
|
|
| Disposals | | |
(12)
|
| |
(4)
|
|
| Transfers and other | | |
-
|
| |
-
|
|
| Foreign exchange effect | | |
(4)
|
| |
5
|
|
| Other | | |
-
|
| |
1
|
|
| Reclass. to held for sale | | |
-
|
| |
1
|
|
| YEAR-END BALANCE | | |
162
|
| |
169
|
|
| | | |
BALANCE AT 12.31.2022
|
| ||||||
|
CONCESSION OPERATOR
|
| |
LONG-TERM RECEIVABLES
|
| |
SHORT-TERM RECEIVABLES
|
| |
TOTAL
|
|
| (Million euro) | | | | | |
(Note 4.2)
|
| |
2022
|
|
| Concesionaria de Prisiones Lledoners | | |
53
|
| |
3
|
| |
56
|
|
| Depusa Aragón | | |
23
|
| |
1
|
| |
24
|
|
| Budimex Parking Wrocław | | |
10
|
| |
-
|
| |
10
|
|
| CONSTRUCTION | | |
86
|
| |
3
|
| |
89
|
|
| UK Waste Treatment (Thalia) | | |
76
|
| |
-
|
| |
76
|
|
| UK WASTE TREATMENT | | |
76
|
| |
-
|
| |
76
|
|
| TOTAL GROUP | | |
162
|
| |
3
|
| |
165
|
|
| | | |
BALANCE AT 12.31.2021
|
| ||||||
|
CONCESSION OPERATOR
|
| |
LONG-TERM RECEIVABLES
|
| |
SHORT-TERM RECEIVABLES
|
| |
TOTAL
|
|
| (Million euro) | | | | | |
(Note 4.2)
|
| |
2021
|
|
| Concesionaria de Prisiones Lledoners | | |
56
|
| |
1
|
| |
57
|
|
| Depusa Aragón | | |
24
|
| |
1
|
| |
25
|
|
| Budimex Parking Wrocław | | |
10
|
| |
-
|
| |
10
|
|
| CONSTRUCTION | | |
90
|
| |
2
|
| |
92
|
|
| UK Waste Treatment (Thalia) | | |
79
|
| |
-
|
| |
79
|
|
| UK WASTE TREATMENT | | |
79
|
| |
-
|
| |
79
|
|
| TOTAL GROUP | | |
169
|
| |
2
|
| |
171
|
|
|
Movements during
2022 (million euro) |
| |
Land and buildings
|
| |
Plant and machinery
|
| |
Fixtures, fittings, tooling and
furniture |
| |
Total
|
|
| Investment: Balance at 01.01.2022 | | |
100
|
| |
445
|
| |
287
|
| |
832
|
|
| Additions | | |
17
|
| |
75
|
| |
115
|
| |
207
|
|
| Disposals | | |
-
|
| |
(43)
|
| |
(13)
|
| |
(56)
|
|
| Scope changes and transfers | | |
(24)
|
| |
(3)
|
| |
5
|
| |
(22)
|
|
| Foreign exchange effect | | |
1
|
| |
6
|
| |
1
|
| |
8
|
|
| Balances at 12.31.2022 | | |
94
|
| |
480
|
| |
395
|
| |
969
|
|
| Accumulated depreciation and impairment losses at 01.01.2022 | | |
(31)
|
| |
(297)
|
| |
(150)
|
| |
(478)
|
|
| Depreciation charge | | |
(4)
|
| |
(26)
|
| |
(17)
|
| |
(47)
|
|
| Disposals | | |
-
|
| |
27
|
| |
8
|
| |
35
|
|
| Scope changes and transfers | | |
6
|
| |
1
|
| |
1
|
| |
8
|
|
| Foreign exchange effect | | |
-
|
| |
(2)
|
| |
-
|
| |
(2)
|
|
| Impairment of property, plant and equipment | | |
-
|
| |
-
|
| |
(6)
|
| |
(6)
|
|
| Balances at 12.31.2022 | | |
(29)
|
| |
(297)
|
| |
(164)
|
| |
(490)
|
|
| Carrying amount at 12.31.2022 | | |
65
|
| |
183
|
| |
231
|
| |
479
|
|
|
Movements during
2021 (million euro) |
| |
Land and buildings
|
| |
Plant and machinery
|
| |
Fixtures, fittings, tooling and
furniture |
| |
Total
|
|
| Investment: Balance at 01.01.2021 | | |
104
|
| |
500
|
| |
261
|
| |
865
|
|
| Additions | | |
4
|
| |
43
|
| |
61
|
| |
108
|
|
| Disposals | | |
(12)
|
| |
(114)
|
| |
(42)
|
| |
(168)
|
|
| Scope changes and transfers | | |
(2)
|
| |
(28)
|
| |
(13)
|
| |
(43)
|
|
| Foreign exchange effect | | |
4
|
| |
10
|
| |
12
|
| |
26
|
|
| Reclassified to held for sale | | |
2
|
| |
34
|
| |
8
|
| |
44
|
|
| Balances at 12.31.2021 | | |
100
|
| |
445
|
| |
287
|
| |
832
|
|
| Accumulated depreciation and impairment losses at 01.01.2021 | | |
(22)
|
| |
(329)
|
| |
(167)
|
| |
(518)
|
|
| Depreciation charge | | |
(6)
|
| |
(28)
|
| |
(25)
|
| |
(59)
|
|
| Disposals | | |
-
|
| |
70
|
| |
49
|
| |
119
|
|
| Scope changes and transfers | | |
-
|
| |
22
|
| |
9
|
| |
31
|
|
| Foreign exchange effect | | |
(1)
|
| |
(4)
|
| |
2
|
| |
(3)
|
|
| Impairment of property, plant and equipment | | |
-
|
| |
-
|
| |
(10)
|
| |
(10)
|
|
| Reclassified to held for sale | | |
(2)
|
| |
(28)
|
| |
(8)
|
| |
(38)
|
|
| Balances at 12.31.2021 | | |
(31)
|
| |
(297)
|
| |
(150)
|
| |
(478)
|
|
| Carrying amount 12.31.2021 | | |
69
|
| |
148
|
| |
137
|
| |
354
|
|
|
(Million euro)
|
| |
2022
|
| |
2021
|
|
| Construction | | |
98
|
| |
73
|
|
| Toll roads | | |
17
|
| |
2
|
|
| Energy and mobility infrastructures | | |
86
|
| |
-
|
|
| Other | | |
6
|
| |
33
|
|
| TOTAL | | |
207
|
| |
108
|
|
|
(Million euro)
|
| |
HAH (25%)
|
| |
407ETR (43,23%)
|
| |
AGS (50%)
|
| |
IRB (24.86%)
|
| |
JFK (49%)
|
| |
OTHER
|
| |
TOTAL
|
|
| Balance at 12.31.21 | | |
-
|
| |
1,181
|
| |
-
|
| |
378
|
| |
-
|
| |
279
|
| |
1,838
|
|
| Share capital contributions | | |
-
|
| |
-
|
| |
-
|
| |
(10)
|
| |
59
|
| |
17
|
| |
66
|
|
| Share of profit/(loss) | | |
-
|
| |
124
|
| |
-
|
| |
22
|
| |
1
|
| |
17
|
| |
164
|
|
| Dividends | | |
-
|
| |
(237)
|
| |
-
|
| |
(2)
|
| |
-
|
| |
(19)
|
| |
(258)
|
|
| Foreign exchange differences | | |
-
|
| |
(4)
|
| |
-
|
| |
(18)
|
| |
(4)
|
| |
(3)
|
| |
(29)
|
|
| Derivatives | | |
-
|
| |
-
|
| |
-
|
| |
(4)
|
| |
117
|
| |
100
|
| |
213
|
|
| Scope changes | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(111)
|
| |
(111)
|
|
| Other | | |
-
|
| |
(1)
|
| |
-
|
| |
11
|
| |
62
|
| |
(4)
|
| |
68
|
|
| Balance at 12.31.22 | | |
-
|
| |
1,063
|
| |
-
|
| |
377
|
| |
235
|
| |
276
|
| |
1,951
|
|
|
(Million euro)
|
| |
HAH (25%)
|
| |
407ETR (43.23%)
|
| |
AGS (50%)
|
| |
IRB
(24.86%) |
| |
OTHER
|
| |
TOTAL
|
|
| Balance at 12.31.2020 | | |
205
|
| |
1,205
|
| |
-
|
| |
-
|
| |
317
|
| |
1,727
|
|
| Share of profit/(loss) | | |
(238)
|
| |
52
|
| |
(20)
|
| |
-
|
| |
28
|
| |
(178)
|
|
| Dividends | | |
-
|
| |
(175)
|
| |
-
|
| |
-
|
| |
(15)
|
| |
(190)
|
|
| Foreign exchange differences | | |
5
|
| |
100
|
| |
-
|
| |
4
|
| |
(2)
|
| |
107
|
|
| Pensions | | |
23
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
23
|
|
| Scope changes | | |
-
|
| |
-
|
| |
-
|
| |
369
|
| |
(45)
|
| |
324
|
|
| Other | | |
5
|
| |
-
|
| |
20
|
| |
5
|
| |
(4)
|
| |
26
|
|
| Balance at 12.31.2021 | | |
-
|
| |
1,181
|
| |
-
|
| |
378
|
| |
279
|
| |
1,838
|
|
|
HAH (100%) Million GBP
|
| |
12.31.2022
|
| |
12.31.2021
|
| |
Var. 22/21
|
|
| Non-current assets | | |
16,507
|
| |
16,373
|
| |
134
|
|
| Fixed assets in infrastructure projects | | |
12,369
|
| |
12,542
|
| |
(173)
|
|
| Financial derivatives | | |
1,145
|
| |
421
|
| |
724
|
|
| Other non-current assets | | |
2,993
|
| |
3,410
|
| |
(417)
|
|
| Current assets | | |
3,317
|
| |
3,142
|
| |
175
|
|
| Financial derivatives | | |
1,145
|
| |
421
|
| |
724
|
|
| Other current assets | | |
2,172
|
| |
2,721
|
| |
(549)
|
|
| TOTAL ASSETS | | |
19,823
|
| |
19,517
|
| |
306
|
|
|
HAH (100%) Million GBP
|
| |
12.31.2022
|
| |
12.31.2021
|
| |
Var. 22/21
|
|
| Equity | | |
(3,018)
|
| |
(2,914)
|
| |
(104)
|
|
| Non-current liabilities | | |
21,334
|
| |
21,057
|
| |
277
|
|
| Borrowings | | |
18,025
|
| |
18,031
|
| |
(6)
|
|
| Financial derivatives | | |
2,436
|
| |
2,226
|
| |
210
|
|
| Other non-current liabilities | | |
873
|
| |
800
|
| |
73
|
|
| Current liabilities | | |
1,507
|
| |
1,374
|
| |
132
|
|
| Borrowings | | |
1,008
|
| |
1,000
|
| |
8
|
|
| Financial derivatives | | |
40
|
| |
19
|
| |
21
|
|
| Other current liabilities | | |
459
|
| |
355
|
| |
103
|
|
| TOTAL LIABILITIES | | |
19,823
|
| |
19,517
|
| |
306
|
|
|
(Million euro)
|
| |
HAH (25%)
|
|
| BALANCE AT 12.31.2020 | | |
205
|
|
| Share of profit/(loss) | | |
(484)
|
|
| Derivatives | | |
13
|
|
| Pension plans | | |
75
|
|
| Currency translation differences without IAS 28 | | |
15
|
|
| BALANCE AT 12.31.2021 | | |
(176)
|
|
| Share of profit/(loss) | | |
49
|
|
| Derivatives | | |
21
|
|
| Pension plans | | |
(101)
|
|
| Currency translation differences | | |
10
|
|
| BALANCE AT 12.31.2022 without IAS 28 | | |
(197)
|
|
| Profit/(loss) not consolidated under IAS 28 | | |
197
|
|
| Other equity effects not consolidated under IAS 28 | | |
0
|
|
| BALANCE AT 12.31.2022 under IAS 28 | | |
-
|
|
|
HAH (100%) Million GBP
|
| |
2022
|
| |
2021
|
| |
2020
|
|
| Operating income | | |
2,913
|
| |
1,214
|
| |
1,175
|
|
| Operating expenses | | |
(1,210)
|
| |
(858)
|
| |
(1,087)
|
|
| Fixed asset depreciation | | |
(795)
|
| |
(828)
|
| |
(848)
|
|
| Operating profit/(loss) before impairment and disposals | | |
909
|
| |
(472)
|
| |
(759)
|
|
| Impairment and disposal of fixed assets | | |
-
|
| |
-
|
| | | |
| OPERATING PROFIT/(LOSS) | | |
909
|
| |
(472)
|
| |
(759)
|
|
| Net financial income/(expense) | | |
(687)
|
| |
(1,509)
|
| |
(855)
|
|
| Profit/(loss) before tax | | |
222
|
| |
(1,981)
|
| |
(1,614)
|
|
| Corporate income tax | | |
(54)
|
| |
319
|
| |
206
|
|
| Net profit/(loss) | | |
168
|
| |
(1,662)
|
| |
(1,408)
|
|
| 25% Profit/(loss) attributable to Ferrovial (million euro) | | |
49
|
| |
(484)
|
| |
(396)
|
|
| Profit/(loss) attributable to Ferrovial under IAS 28 (million euro) | | |
-
|
| |
(238)
|
| |
(396)
|
|
|
407 ETR (100%) Mill. CAD
|
| |
12.31.2022
|
| |
12.31.2021
|
| |
Var. 22/21
|
|
| Non-current assets | | |
4,565
|
| |
4,574
|
| |
(9)
|
|
| Fixed assets in infrastructure projects | | |
3,972
|
| |
3,995
|
| |
(23)
|
|
| Other non-current assets | | |
593
|
| |
579
|
| |
14
|
|
| Current assets | | |
883
|
| |
767
|
| |
116
|
|
| Total assets | | |
5,448
|
| |
5,341
|
| |
107
|
|
| Equity | | |
(5,407)
|
| |
(5,092)
|
| |
(315)
|
|
| Non-current liabilities | | |
10,640
|
| |
9,918
|
| |
721
|
|
| Borrowings | | |
10,060
|
| |
9,354
|
| |
706
|
|
| Deferred taxes | | |
580
|
| |
564
|
| |
16
|
|
| Current liabilities | | |
216
|
| |
514
|
| |
(298)
|
|
| Borrowings | | |
139
|
| |
427
|
| |
(288)
|
|
| Short-term trade and other payables | | |
77
|
| |
87
|
| |
(10)
|
|
| Total liabilities | | |
5,448
|
| |
5,341
|
| |
107
|
|
|
407 ETR (100%) Mill. CAD
|
| |
12.31.2022
|
| |
12.31.2021
|
| |
12.31.2020
|
|
| Operating income | | |
1,327
|
| |
1,023
|
| |
909
|
|
| Operating expenses | | |
(188)
|
| |
(164)
|
| |
(169)
|
|
| Fixed asset depreciation | | |
(100)
|
| |
(102)
|
| |
(97)
|
|
| Operating profit/(loss) | | |
1,039
|
| |
757
|
| |
642
|
|
| Net financial income/(expense) | | |
(447)
|
| |
(465)
|
| |
(441)
|
|
| Profit/(loss) before tax | | |
592
|
| |
292
|
| |
201
|
|
| Corporate income tax | | |
(156)
|
| |
(79)
|
| |
(53)
|
|
| Net profit/(loss) | | |
436
|
| |
213
|
| |
148
|
|
| Profit/(loss) attributable to Ferrovial (million CAD) | | |
188
|
| |
92
|
| |
64
|
|
| Adjustment to amortization of intangible assets (CAD million) | | |
(19)
|
| |
(15)
|
| |
(13)
|
|
| Adjusted net profit/(loss) to Ferrovial (43.23% million CAD) | | |
169
|
| |
77
|
| |
51
|
|
| Adjusted net profit/(loss) to Ferrovial (43.23% million euro) | | |
124
|
| |
52
|
| |
33
|
|
|
JFK (100%) Million USD
|
| |
12.31.2022
|
|
| Non-current assets | | |
5,265
|
|
| Current assets | | |
116
|
|
| Total assets | | |
5,381
|
|
| Equity | | |
382
|
|
| Non-current liabilities | | |
4,940
|
|
| Current liabilities | | |
59
|
|
| Total liabilities | | |
5,381
|
|
|
2022, 2021 and 2020 (million euro)
|
| |
AGS (50%)
|
|
| Balance as at 12.31.2020 without IAS 28 | | |
0
|
|
| Share of profit/(loss) | | |
(71)
|
|
| Derivatives | | |
8
|
|
| Pensions | | |
3
|
|
| Other equity movements | | |
21
|
|
| Currency translation differences | | |
(21)
|
|
| Balance as at 12.31.2021 without IAS 28 | | |
(60)
|
|
| Share of profit/(loss) | | |
(17)
|
|
| Derivatives | | |
16
|
|
| Pensions | | |
(6)
|
|
| Other equity movements | | |
(1)
|
|
| Currency translation differences | | |
11
|
|
| Balance as at 12.31.2022 without IAS 28 | | |
(57)
|
|
| Profit/(loss) not consolidated under IAS 28 | | |
68
|
|
| Other equity effects not consolidated under IAS 28 | | |
(11)
|
|
| Balance as at 12.31.2022 under IAS 28 | | |
-
|
|
| | | |
OTHER
|
|
| BALANCE AS AT 12.31.2020 | | |
317
|
|
| Share of profit/(loss) (Note 2.7) | | |
28
|
|
| Dividends | | |
(15)
|
|
| Foreign exchange differences | | |
(2)
|
|
| Consolidation scope change | | |
(45)
|
|
| Other | | |
(3)
|
|
| BALANCE AS AT 12.31.2021 | | |
280
|
|
| Share capital contributions | | |
17
|
|
| Share of profit/(loss) (Note 2.7) | | |
17
|
|
| Dividends | | |
(19)
|
|
| Exchange differences | | |
(3)
|
|
| Derivatives | | |
100
|
|
| Scope changes | | |
(111)
|
|
| Other | | |
(5)
|
|
| BALANCE AS AT 12.31.2022 | | |
276
|
|
|
Million euro
|
| |
2022
|
| |
2021
|
|
| Riverlinx Limited – Silvertown Tunnel | | |
55
|
| |
-
|
|
| Ausol | | |
-
|
| |
111
|
|
| Concesionaria Madrid Calle 30 | | |
17
|
| |
16
|
|
| Netflow OSARS (Western) | | |
50
|
| |
36
|
|
| Zero Bypass Ltd. | | |
20
|
| |
-
|
|
| FMM Company LLC | | |
19
|
| |
20
|
|
| Cartera Ceres | | |
18
|
| |
-
|
|
| 407 East Development Group | | |
15
|
| |
14
|
|
| A66 Benavente Zamora | | |
17
|
| |
16
|
|
| Other | | |
65
|
| |
67
|
|
| TOTAL | | |
276
|
| |
280
|
|
|
MOVEMENTS IN THE
YEAR (million euro) |
| |
LONG-TERM
LOANS TO ASSOCIATES |
| |
RESTRICTED
CASH FROM INFRASTRUCTURE PROJECT COMPANIES |
| |
FINANCIAL
INVESTMENTS CARRIED AT FAIR VALUE |
| |
LOANS ASSOCIATED
WITH DIVESTMENT TRANSACTIONS |
| |
OTHER
LONG-TERM RECEIVABLES |
| |
TOTAL
|
|
|
BALANCE AT 01.01.2021
|
| |
164
|
| |
654
|
| |
15
|
| |
-
|
| |
25
|
| |
858
|
|
| Additions | | |
63
|
| |
16
|
| |
24
|
| |
-
|
| |
13
|
| |
116
|
|
| Disposals | | |
(3)
|
| |
(136)
|
| |
-
|
| |
-
|
| |
(12)
|
| |
(151)
|
|
| Foreign exchange effect | | |
4
|
| |
45
|
| |
1
|
| |
-
|
| |
6
|
| |
56
|
|
| BALANCE AT 12.31.2021 | | |
228
|
| |
579
|
| |
40
|
| |
-
|
| |
32
|
| |
879
|
|
| Additions | | |
36
|
| |
153
|
| |
12
|
| |
192
|
| |
1
|
| |
394
|
|
| Disposals | | |
(4)
|
| |
(172)
|
| |
-
|
| |
-
|
| |
(35)
|
| |
(211)
|
|
| Transfers and other | | | | | |
-
|
| |
(19)
|
| |
(3)
|
| |
21
|
| |
(1)
|
|
| Foreign exchange effect | | |
(13)
|
| |
37
|
| |
2
|
| |
-
|
| |
8
|
| |
34
|
|
| BALANCE AT 12.31.2022 | | |
247
|
| |
597
|
| |
35
|
| |
189
|
| |
27
|
| |
1,095
|
|
|
MOVEMENTS
(Million euro) |
| |
LAND
|
| |
BUILDINGS
|
| |
VEHICLES
|
| |
PLANT
AND MACHINERY |
| |
OFFICE EQUIPMENT
AND OTHER |
| |
TOTAL
|
|
|
BALANCE AT 01.01.2021
|
| |
5
|
| |
53
|
| |
74
|
| |
16
|
| |
3
|
| |
151
|
|
| Additions | | |
10
|
| |
34
|
| |
28
|
| |
31
|
| |
3
|
| |
106
|
|
| Disposals | | |
(1)
|
| |
(1)
|
| |
(2)
|
| |
(2)
|
| |
-
|
| |
(6)
|
|
| Transfers and other | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Depreciation/amortization | | |
(2)
|
| |
(19)
|
| |
(34)
|
| |
(23)
|
| |
(2)
|
| |
(80)
|
|
| Scope changes | | |
-
|
| |
(1)
|
| |
-
|
| |
-
|
| |
-
|
| |
(1)
|
|
| Foreign exchange effect | | |
-
|
| |
1
|
| |
4
|
| |
1
|
| |
-
|
| |
6
|
|
|
BALANCE AT 12.31.2021
|
| |
12
|
| |
67
|
| |
70
|
| |
23
|
| |
4
|
| |
176
|
|
| Additions | | |
6
|
| |
25
|
| |
21
|
| |
15
|
| |
3
|
| |
70
|
|
| Disposals | | |
(2)
|
| |
(6)
|
| |
(8)
|
| |
(2)
|
| |
(3)
|
| |
(21)
|
|
| Transfers and other | | |
(2)
|
| |
3
|
| |
(8)
|
| |
2
|
| |
1
|
| |
(4)
|
|
| Depreciation/ amortization | | |
(1)
|
| |
(13)
|
| |
(15)
|
| |
(10)
|
| |
(2)
|
| |
(41)
|
|
| Scope changes | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Foreign exchange effect | | |
-
|
| |
1
|
| |
1
|
| |
1
|
| |
-
|
| |
3
|
|
|
BALANCE AT 12.31.2022
|
| |
13
|
| |
77
|
| |
61
|
| |
29
|
| |
3
|
| |
183
|
|
| | | |
LEASE LIABILITIES
|
|
| BALANCE AT 12.31.2021 | | |
173
|
|
| Additions under new leases | | |
86
|
|
| Associated financial expenses | | |
12
|
|
| Disposals due to payments | | |
(72)
|
|
| Foreign exchange effect | | |
1
|
|
| Consolidation scope change and other | | |
(15)
|
|
| BALANCE AT 12.31.2022 | | |
184
|
|
| Short-term lease liabilities | | |
64
|
|
| Long-term lease liabilities | | |
120
|
|
| | | |
2023
|
| |
2024
|
| |
2025
|
| |
2026
|
| |
2027
|
| |
2028 AND BEYOND
|
| |
TOTAL
|
|
| Corporation | | |
2
|
| |
2
|
| |
2
|
| |
3
|
| |
2
|
| |
11
|
| |
22
|
|
| Construction | | |
52
|
| |
36
|
| |
20
|
| |
11
|
| |
6
|
| |
12
|
| |
137
|
|
| Toll roads | | |
1
|
| |
1
|
| |
1
|
| |
-
|
| |
-
|
| |
1
|
| |
4
|
|
| Airports | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Energy & Mobility infrastructures | | |
9
|
| |
5
|
| |
2
|
| |
1
|
| |
-
|
| |
3
|
| |
20
|
|
| TOTAL LEASE LIABILITIES | | |
64
|
| |
44
|
| |
25
|
| |
15
|
| |
8
|
| |
27
|
| |
183
|
|
|
Million euro
|
| |
2021
|
| |
Exchange rate
|
| |
Consolidation scope
changes |
| |
Other
|
| |
2022
|
|
| Inventories | | |
404
|
| |
9
|
| |
−
|
| |
63
|
| |
476
|
|
| Short term trade and other receivables | | |
1,336
|
| |
(10)
|
| |
15
|
| |
260
|
| |
1,600
|
|
| Short-term trade and other payables | | |
(2,812)
|
| |
(4)
|
| |
(6)
|
| |
(608)
|
| |
(3,429)
|
|
| TOTAL | | |
(1,072)
|
| |
(4)
|
| |
9
|
| |
(285)
|
| |
(1,353)
|
|
|
Million euro
|
| |
2020
|
| |
Exchange rate
|
| |
Consolidation scope
changes |
| |
Other
|
| |
2021
|
|
| Inventories | | |
699
|
| |
14
|
| |
(358)
|
| |
48
|
| |
404
|
|
| Short term trade and other receivables | | |
1,385
|
| |
28
|
| |
(23)
|
| |
(54)
|
| |
1,336
|
|
| Short-term trade and other payables | | |
(3,140)
|
| |
(94)
|
| |
450
|
| |
(27)
|
| |
(2,812)
|
|
| TOTAL | | |
(1,055)
|
| |
(53)
|
| |
69
|
| |
(33)
|
| |
(1,072)
|
|
|
(Million euro)
|
| |
2021
|
| |
Exchange rate
|
| |
Consolidation scope
changes |
| |
Other
|
| |
2022
|
|
| Goods purchased for resale | | |
42
|
| |
−
|
| |
−
|
| |
(17)
|
| |
25
|
|
| Raw materials and other supplies | | |
275
|
| |
8
|
| |
−
|
| |
39
|
| |
322
|
|
| Bidding and mobilization costs | | |
87
|
| |
2
|
| |
−
|
| |
41
|
| |
130
|
|
| Inventories | | |
404
|
| |
10
|
| |
−
|
| |
63
|
| |
476
|
|
|
(Million euro)
|
| |
2021
|
| |
Exchange rate
|
| |
Consolidation scope
changes |
| |
Other
|
| |
2022
|
|
| Trade receivables for sales and services | | |
1,068
|
| |
(10)
|
| |
9
|
| |
233
|
| |
1,300
|
|
| Other receivables | | |
267
|
| |
−
|
| |
6
|
| |
27
|
| |
300
|
|
| TOTAL RECEIVABLES | | |
1,336
|
| |
(10)
|
| |
15
|
| |
260
|
| |
1,600
|
|
|
(Million euro)
|
| |
2021
|
| |
Exchange rate
|
| |
Consolidation scope
changes |
| |
Other
|
| |
2022
|
|
| Trade receivables | | |
809
|
| |
(6)
|
| |
10
|
| |
148
|
| |
962
|
|
| Bad debt provisions | | |
(209)
|
| |
−
|
| |
−
|
| |
−
|
| |
(209)
|
|
| Net trade receivables | | |
600
|
| |
(6)
|
| |
10
|
| |
148
|
| |
753
|
|
| Net completed work pending certification | | |
347
|
| |
(4)
|
| |
(2)
|
| |
64
|
| |
406
|
|
| Retentions | | |
122
|
| |
(1)
|
| |
−
|
| |
20
|
| |
141
|
|
| TRADE RECEIVABLES FOR SALES AND SERVICES | | |
1,068
|
| |
(10)
|
| |
9
|
| |
233
|
| |
1,300
|
|
|
At 12.31.2022
(Million euro) |
| |
CONSTRUCTION
|
| |
OTHER AND ADJUSTMENTS
|
| |
TOTAL
|
| |||||||||
| Public sector | | |
813
|
| |
66%
|
| |
90
|
| |
n.a.
|
| |
904
|
| |
70%
|
|
| Private sector | | |
324
|
| |
26%
|
| |
22
|
| |
n.a.
|
| |
346
|
| |
27%
|
|
| Group companies and associates | | |
97
|
| |
8%
|
| |
(47)
|
| |
n.a.
|
| |
50
|
| |
4%
|
|
| TOTAL | | |
1,235
|
| |
100%
|
| |
65
|
| |
n.a.
|
| |
1,300
|
| |
100%
|
|
|
At 12.31.2021
(Million euro) |
| |
CONSTRUCTION
|
| |
OTHER AND ADJUSTMENTS
|
| |
TOTAL
|
| |||||||||
| Public sector | | |
518
|
| |
51%
|
| |
96
|
| |
n.a.
|
| |
614
|
| |
57%
|
|
| Private sector | | |
309
|
| |
30%
|
| |
21
|
| |
n.a.
|
| |
330
|
| |
31%
|
|
| Group companies and associates | | |
191
|
| |
19%
|
| |
(65)
|
| |
n.a.
|
| |
125
|
| |
12%
|
|
| TOTAL | | |
1,017
|
| |
100%
|
| |
51
|
| |
n.a.
|
| |
1,068
|
| |
100%
|
|
|
(Million euro)
|
| |
2022
|
| |
2021
|
|
| Opening balance | | |
209
|
| |
211
|
|
| Amounts charged to the income statement: | | |
1
|
| |
(3)
|
|
|
Charges
|
| |
5
|
| |
6
|
|
|
Reversals
|
| |
(4)
|
| |
(9)
|
|
| Applications | | |
(2)
|
| |
(1)
|
|
| Foreign exchange effect | | |
−
|
| |
1
|
|
| Transfers and other | | |
1
|
| |
1
|
|
| Closing balance | | |
209
|
| |
209
|
|
|
(Million euro)
|
| |
2021
|
| |
Exchange rate
|
| |
Consolidation scope
changes |
| |
Other
|
| |
2022
|
|
| Advance payments to suppliers | | |
50
|
| |
1
|
| |
−
|
| |
11
|
| |
61
|
|
| Sundry receivables | | |
84
|
| |
(1)
|
| |
7
|
| |
6
|
| |
96
|
|
| Infrastructure project receivables | | |
2
|
| |
−
|
| |
−
|
| |
1
|
| |
3
|
|
| Amounts receivable from Public Administrations | | |
132
|
| |
−
|
| |
(1)
|
| |
9
|
| |
140
|
|
| OTHER RECEIVABLES | | |
267
|
| |
−
|
| |
6
|
| |
27
|
| |
300
|
|
|
(Million euro)
|
| |
2021
|
| |
Exchange rate
|
| |
Consolidation scope
changes |
| |
Other
|
| |
2022
|
|
| Trade payables | | |
1,544
|
| |
11
|
| |
(3)
|
| |
112
|
| |
1,663
|
|
| Work certified in advance | | |
692
|
| |
(4)
|
| |
(1)
|
| |
275
|
| |
962
|
|
| Advance payments | | |
193
|
| |
(2)
|
| |
10
|
| |
201
|
| |
402
|
|
| Other non-trade payables | | |
383
|
| |
(2)
|
| |
1
|
| |
20
|
| |
402
|
|
| TRADE AND OTHER PAYABLES | | |
2,812
|
| |
4
|
| |
6
|
| |
608
|
| |
3,429
|
|
|
(Million euro)
|
| |
2021
|
| |
Exchange rate
|
| |
Consolidation scope
changes |
| |
Other
|
| |
2022
|
|
| Trade payables | | |
1,063
|
| |
10
|
| |
(3)
|
| |
117
|
| |
1,187
|
|
| Trade payables sent for reverse factoring | | |
226
|
| |
−
|
| |
(1)
|
| |
8
|
| |
234
|
|
| Withholdings made from suppliers | | |
255
|
| |
2
|
| |
−
|
| |
(14)
|
| |
242
|
|
| TRADE PAYABLES | | |
1,544
|
| |
11
|
| |
(3)
|
| |
112
|
| |
1,663
|
|
|
Million euro
|
| |
2021
|
| |
Exchange rate
|
| |
Consolidation scope
changes |
| |
Other
|
| |
2022
|
|
| Accrued wages and salaries | | |
168
|
| |
−
|
| |
−
|
| |
22
|
| |
190
|
|
| Taxes payable | | |
146
|
| |
(2)
|
| |
(2)
|
| |
29
|
| |
171
|
|
| Other payables | | |
69
|
| |
−
|
| |
2
|
| |
(30)
|
| |
41
|
|
| OTHER NON-TRADE PAYABLES | | |
382
|
| |
(2)
|
| |
1
|
| |
20
|
| |
402
|
|
|
Million euro
|
| |
2021
|
| |
Exchange rate
|
| |
Consolidation scope
changes |
| |
Other
|
| |
2022
|
|
| Completed work pending certification | | |
347
|
| |
(4)
|
| |
(2)
|
| |
64
|
| |
406
|
|
| Retentions | | |
119
|
| |
(1)
|
| |
2
|
| |
20
|
| |
141
|
|
| Total customer contract assets | | |
466
|
| |
(5)
|
| |
−
|
| |
84
|
| |
547
|
|
| Work certified in advance | | |
692
|
| |
(4)
|
| |
−
|
| |
275
|
| |
962
|
|
| Advance payments | | |
193
|
| |
(2)
|
| |
10
|
| |
201
|
| |
402
|
|
| Total customer contract liabilities | | |
885
|
| |
(6)
|
| |
9
|
| |
476
|
| |
1,364
|
|
|
Million euro
|
| | |
2022
|
| | |
2021
|
| | |
2020
|
|
| Construction | | | |
6,287
|
| | |
5,799
|
| | |
5,678
|
|
| Toll Roads | | | |
765
|
| | |
570
|
| | |
390
|
|
| Airports | | | |
5
|
| | |
2
|
| | |
8
|
|
| Other | | | |
328
|
| | |
822
|
| | |
99
|
|
| Revenue from contracts with customers | | | |
7,385
|
| | |
6,810
|
| | |
6,552
|
|
|
Revenue
|
| |
2023
|
| |
2024
|
| |
2025
|
| |
2026
|
| |
2027 and beyond
|
| |
TOTAL
|
|
| Construction | | |
5,366
|
| |
3,934
|
| |
2,778
|
| |
1,324
|
| |
1,341
|
| |
14,743
|
|
|
EQUITY ATTRIBUTED TO SHAREHOLDERS
(Million euro) Closing balance at 12.31.2021 |
| |
4,039
|
|
| Net profit/(loss) | | |
185
|
|
| Income and expense recognized directly in equity | | |
391
|
|
| Amounts transferred to the income statement | | |
131
|
|
| Shareholder remuneration | | |
(578)
|
|
| Scope changes | | |
(88)
|
|
| Other | | |
33
|
|
| Closing balance at 12.31.2022 | | |
4,113
|
|
|
BORROWINGS OF INFRASTRUCTURE PROJECTS
(Million euro) Closing balance at 12.31.2021 |
| |
7,409
|
|
| Net draw downs | | |
58
|
|
| Exchange rate effects | | |
385
|
|
| Changes in the scope of consolidation | | |
115
|
|
| Closing balance at 12.31.2022 | | |
7,967
|
|
| | | |
Attributed to
shareholders |
| |
Attributed to non-
controlling interest |
| |
Total equity
|
|
| Equity at 01.01.2021 | | |
3,253
|
| |
640
|
| |
3,893
|
|
| Consolidated profit/(loss) for the year | | |
1,201
|
| |
138
|
| |
1,339
|
|
| Impact on hedge reserves | | |
67
|
| |
(17)
|
| |
50
|
|
| Impact on defined benefit plan reserves (*) | | |
23
|
| |
-
|
| |
23
|
|
| Currency translation differences | | |
106
|
| |
1
|
| |
107
|
|
| Income and expenses recognized directly in equity | | |
196
|
| |
(16)
|
| |
180
|
|
| Amounts transferred to the income statement | | |
1
|
| |
-
|
| |
1
|
|
| TOTAL RECOGNIZED INCOME AND EXPENSES | | |
1,398
|
| |
122
|
| |
1,520
|
|
| Scrip dividend/other dividends | | |
(29)
|
| |
(270)
|
| |
(299)
|
|
| Treasury share transaction | | |
(434)
|
| |
-
|
| |
(434)
|
|
| SHAREHOLDER REMUNERATION | | |
(463)
|
| |
(270)
|
| |
(733)
|
|
| Share capital increases/reductions | | |
-
|
| |
28
|
| |
28
|
|
| Share-based remuneration scheme | | |
(22)
|
| |
-
|
| |
(22)
|
|
| Hybrid bond | | |
(7)
|
| |
-
|
| |
(7)
|
|
| Scope changes | | |
-
|
| |
1,270
|
| |
1,270
|
|
| Other movements | | |
(3)
|
| |
-
|
| |
(3)
|
|
| OTHER TRANSACTIONS | | |
(32)
|
| |
1,298
|
| |
1,266
|
|
| Equity at 12.31.2021 | | |
4,156
|
| |
1,790
|
| |
5,946
|
|
| Consolidated profit/(loss) for the year | | |
188
|
| |
117
|
| |
305
|
|
| Impact on hedge reserves | | |
348
|
| |
(15)
|
| |
333
|
|
| Impact on defined benefit plan reserves (*) | | |
-
|
| |
-
|
| |
-
|
|
| Currency translation differences | | |
43
|
| |
80
|
| |
123
|
|
| Income and expense recognized directly in equity | | |
391
|
| |
65
|
| |
456
|
|
| Amounts transferred to the income statement | | |
131
|
| |
-
|
| |
131
|
|
| TOTAL RECOGNIZED INCOME AND EXPENSES | | |
710
|
| |
182
|
| |
892
|
|
| Scrip dividend/other dividends | | |
(132)
|
| |
(160)
|
| |
(292)
|
|
| Treasury share transactions | | |
(446)
|
| |
-
|
| |
(446)
|
|
| SHAREHOLDER REMUNERATION | | |
(578)
|
| |
(160)
|
| |
(738)
|
|
| Share capital increases/reductions | | |
-
|
| |
356
|
| |
356
|
|
| Share-based remuneration scheme | | |
-
|
| |
-
|
| |
-
|
|
| Hybrid bond | | |
(8)
|
| |
-
|
| |
(8)
|
|
| Scope changes (Note 1.1.6) | | |
(88)
|
| |
67
|
| |
(21)
|
|
| Other movements | | |
41
|
| |
5
|
| |
46
|
|
| OTHER TRANSACTIONS | | |
(55)
|
| |
458
|
| |
373
|
|
| Equity at 12.31.2022 | | |
4,233
|
| |
2,240
|
| |
6,473
|
|
|
SHARES
|
| |
NUMBER
|
| |
PAR VALUE
|
|
| Opening balance | | |
733,602,481
|
| |
146,720,496
|
|
| Scrip dividend | | |
16,084,892
|
| |
3,216,978
|
|
| Share capital reduction | | |
(22,244,112)
|
| |
(4,448,822)
|
|
| CLOSING SHARES | | |
727,443,261
|
| |
145,488,652
|
|
|
SHARES
|
| |
NUMBER
|
| |
PAR VALUE
|
|
| Opening balance | | |
732,902,376
|
| |
146,580,475
|
|
| Script dividend | | |
13,359,271
|
| |
2,671,854
|
|
| Share capital reduction | | |
(12,659,166)
|
| |
(2,531,833)
|
|
| CLOSING SHARES | | |
733,602,481
|
| |
146,720,496
|
|
|
TRANSACTION COMPLETED/PURPOSE
|
| |
NUMBER OF SHARES
PURCHASED |
| |
NUMBER OF SHARES
APPLIED TO PURPOSE |
| |
TOTAL NUMBER OF
SHARES |
|
| Balance at 12.31.2021 | | | | | | | | |
5,072,018
|
|
| Share capital | | |
17,912,899
|
| |
(22,244,112)
|
| |
(4,331,213)
|
|
| Remuneration schemes | | |
315,000
|
| |
(338,815)
|
| |
(23,815)
|
|
| Shares received – Scrip dividend | | |
451,300
|
| |
-
|
| |
451,300
|
|
| Balance at 12.31.2022 | | | | | | | | |
1,168,290
|
|
|
TRANSACTION COMPLETED/PURPOSE
|
| |
NUMBER OF SHARES
PURCHASED |
| |
NUMBER OF SHARES
APPLIED TO PURPOSE |
| |
TOTAL NUMBER OF
SHARES |
|
| Balance at 12.31.2020 | | | | | | | | |
634,034
|
|
| Share capital reduction | | |
16,990,379
|
| |
2,671,854
|
| |
4,331,213
|
|
| Remuneration schemes | | |
345,000
|
| |
(2,531,833)
|
| |
(26,702)
|
|
| Shares received – Scrip dividend | | |
133,473
|
| |
-
|
| |
133,473
|
|
| Balance at 12.31.2021 | | | | | | | | |
5,072,018
|
|
| | | |
2022
|
|
| Profit/(loss) of Ferrovial, S.A. (individual company) | | |
961,401,668.98
|
|
| Distribution (euros): | | | | |
| To voluntary reserves | | |
908,006,282.34
|
|
| To prior year losses | | |
53,395,386.64
|
|
|
FERROVIAL GROUP SUBSIDIARY
|
| |
NON-GROUP %
|
| |
NON-GROUP SHAREHOLDER
|
|
| TOLL ROADS | | | | | |
|
|
| Autopista Terrassa-Manresa, S.A. | | |
23.72%
|
| |
Acesa (Autopista Concesionaria Española, S.A.)
|
|
| LBJ Infrastructure Group Holding LLC | | |
28.33%-17.07%
|
| |
LBJ Blocker (APG)- Meridiam Infr.S.a.r.l. (MI LBJ)
|
|
| NTE Mobility Partners Holding LLC | | |
37.03%
|
| |
Meridiam Infrastructure S.a.r.l.
|
|
| NTE Mobility Partners SEG 3 Holding LLC | | |
28.84%-17.49%
|
| |
NTE Segments 3 Blocker, Inc. (APG) - Meridiam Infrastructure NTE 3A/3B
LLC |
|
| I-77 Mobility Partners, LLC | | |
24.58%-3.18%
|
| |
John Laing I-77 Holco Corp./Aberdeen Infr. Invest.
|
|
| I-66 Mobility Partners, LLC | | |
29.75%-14.55%
|
| |
Meridiam Infrastructure S.a.r.l. - I-66 Blocker (APG)
|
|
| CONSTRUCTION | | | | | |
|
|
| Budimex, S.A. | | |
9.8%-6.3%-33.8%
|
| |
AVIVA OFE Aviva BZ WBKNationale Nederlanden OFE (listed on stock
exchange) |
|
| AIRPORTS | | | | | |
|
|
| Dalaman | | |
40.00%
|
| |
YDA Group
|
|
|
2022
(Million euro) |
| |
ASSETS
|
| |
LIABILITIES
|
| |
SHAREHOLDERS’
FUNDS |
| |
NET CASH
POSITION |
| |
NET PROFIT/
(LOSS) |
|
|
Terrassa Manresa toll road
|
| |
576
|
| |
180
|
| |
396
|
| |
13
|
| |
(60)
|
|
| LBJ Infrastructure Group | | |
2,168
|
| |
2,363
|
| |
(195)
|
| |
(1,887)
|
| |
10
|
|
| NTE Mobility Partners | | |
1,716
|
| |
1,692
|
| |
24
|
| |
(1,142)
|
| |
79
|
|
| NTE Mobility Partners Segments 3 LLC | | |
2,327
|
| |
1,719
|
| |
608
|
| |
(1,152)
|
| |
38
|
|
| I-77 Mobility Partners LLC | | |
753
|
| |
522
|
| |
231
|
| |
(240)
|
| |
12
|
|
| I-66 Mobility Partners LLC | | |
5,804
|
| |
2,177
|
| |
3,627
|
| |
(1,536)
|
| |
(12)
|
|
| Budimex | | |
1,668
|
| |
1,343
|
| |
325
|
| |
673
|
| |
57
|
|
| Dalaman | | |
704
|
| |
452
|
| |
252
|
| |
(103)
|
| |
13
|
|
|
Company
(Million euro) |
| |
Balance at
31.12.2021 |
| |
Profit/(loss)
|
| |
Derivatives
|
| |
Currency
translation differences |
| |
Dividends
|
| |
Share capital
increase |
| |
Other
movements |
| |
Balance at
31.12.2022 |
|
| Terrassa Manresa toll road | | |
147
|
| |
(19)
|
| |
(21)
|
| |
-
|
| |
(13)
|
| |
-
|
| |
-
|
| |
94
|
|
| LBJ Infrastructure Group | | |
(68)
|
| |
9
|
| |
-
|
| |
(4)
|
| |
(26)
|
| |
-
|
| |
-
|
| |
(89)
|
|
| NTE Mobility Partners | | |
11
|
| |
47
|
| |
-
|
| |
1
|
| |
(54)
|
| |
-
|
| |
4
|
| |
9
|
|
| NTE Mobility Partners Segments 3 LLC | | |
196
|
| |
33
|
| |
-
|
| |
11
|
| |
-
|
| |
39
|
| |
3
|
| |
282
|
|
| I-77 Mobility Partners LLC | | |
70
|
| |
6
|
| |
-
|
| |
3
|
| |
-
|
| |
-
|
| |
(15)
|
| |
64
|
|
| I-66 Mobility Partners LLC | | |
1,288
|
| |
(10)
|
| |
-
|
| |
76
|
| |
-
|
| |
256
|
| |
-
|
| |
1,610
|
|
| FAM Construction LLC (I-66) | | |
(59)
|
| |
(26)
|
| |
-
|
| |
(4)
|
| |
-
|
| |
61
|
| |
-
|
| |
(28)
|
|
| Budimex | | |
202
|
| |
60
|
| |
-
|
| |
(3)
|
| |
(67)
|
| |
-
|
| |
-
|
| |
192
|
|
| Dalaman | | |
-
|
| |
8
|
| |
3
|
| |
-
|
| |
-
|
| |
-
|
| |
82
|
| |
94
|
|
| Other | | |
3
|
| |
9
|
| |
3
|
| |
-
|
| |
-
|
| |
-
|
| |
(1)
|
| |
12
|
|
| TOTAL | | |
1,790
|
| |
117
|
| |
(15)
|
| |
80
|
| |
(160)
|
| |
356
|
| |
74
|
| |
2,240
|
|
|
FERROVIAL GROUP SUBSIDIARY
|
| |
NON-GROUP %
|
| |
NON-GROUP SHAREHOLDER
|
|
| TOLL ROADS | | | | | | | |
| Autopista Terrassa-Manresa, S.A. | | | 23.72% | | | Acesa (Autopista Concesionaria Española, S.A.) | |
| LBJ Infrastructure Group Holding LLC | | | 28.33%-17.07% | | | LBJ Blocker (APG)- Meridiam Infr. S.a.r.l. (MI LBJ) | |
| NTE Mobility Partners Holding LLC | | | 37.03% | | | Meridiam Infrastructure S.a.r.l. | |
| NTE Mobility Partners SEG 3 Holding LLC | | | 28.84%-17.49% | | | NTE Segments 3 Blocker, Inc. (APG) - Meridiam Infrastructure NTE 3A/3B LLC | |
| I-77 Mobility Partners, LLC | | | 17.45%-17.45% | | | Aberdeen Infr. Invest./John Laing I-77 Holco Corp. | |
| I-66 Mobility Partners, LLC | | | 29.75%-14.55% | | | Meridiam Infrastructure S.a.r.l. - I-66 Blocker (APG) | |
| CONSTRUCTION | | | | | | | |
|
Budimex, S.A.
|
| |
9.8%-6.3%-33.8%
|
| |
AVIVA OFE Aviva BZ WBK-Nationale Nederlanden OFE (listed on the stock exchange)
|
|
|
2021
(Million euro) |
| |
ASSETS
|
| |
LIABILITIES
|
| |
SHAREHOLDERS’
FUNDS |
| |
NET CASH
POSITION |
| |
NET PROFIT/
(LOSS) |
|
|
Terrassa Manresa toll road:
|
| |
829
|
| |
209
|
| |
620
|
| |
14
|
| |
(45)
|
|
| LBJ Infrastructure Group | | |
2,087
|
| |
2,236
|
| |
(149)
|
| |
(1,757)
|
| |
(2)
|
|
| NTE Mobility Partners | | |
1,643
|
| |
1,614
|
| |
29
|
| |
(1,075)
|
| |
42
|
|
| NTE Mobility Partners Segments 3 LLC | | |
2,104
|
| |
1,681
|
| |
424
|
| |
(928)
|
| |
23
|
|
| I-77 Mobility Partners LLC | | |
704
|
| |
503
|
| |
201
|
| |
(231)
|
| |
1
|
|
| I-66 Mobility Partners LLC | | |
4,321
|
| |
1,414
|
| |
2,907
|
| |
(1,511)
|
| |
16
|
|
| Budimex | | |
1,557
|
| |
1,212
|
| |
344
|
| |
561
|
| |
108
|
|
|
Company
(Million euro) |
| |
Balance at
12.31.2020 |
| |
Profit/(loss)
|
| |
Derivatives
|
| |
Currency
translation differences |
| |
Dividends
|
| |
Share capital
increase |
| |
Other
movements |
| |
Balance at
12.31.2021 |
|
| Terrassa Manresa toll road | | |
192
|
| |
(14)
|
| |
(19)
|
| |
-
|
| |
(12)
|
| |
-
|
| |
-
|
| |
147
|
|
| LBJ Infrastructure Group | | |
73
|
| |
(2)
|
| |
-
|
| |
-
|
| |
(139)
|
| |
-
|
| |
-
|
| |
(68)
|
|
| NTE Mobility Partners | | |
17
|
| |
25
|
| |
-
|
| |
1
|
| |
(31)
|
| |
-
|
| |
(1)
|
| |
11
|
|
| NTE Mobility Partners Segments 3 LLC | | |
163
|
| |
20
|
| |
-
|
| |
13
|
| |
-
|
| |
-
|
| |
-
|
| |
196
|
|
| I-77 Mobility Partners LLC | | |
65
|
| |
1
|
| |
-
|
| |
5
|
| |
-
|
| |
-
|
| |
(1)
|
| |
70
|
|
| I-66 Mobility Partners LLC | | |
-
|
| |
-
|
| |
-
|
| |
(14)
|
| |
-
|
| |
18
|
| |
1,284
|
| |
1,288
|
|
| FAM Construction LLC (I-66) | | |
(48)
|
| |
(7)
|
| |
-
|
| |
(4)
|
| |
-
|
| |
-
|
| |
-
|
| |
(59)
|
|
| Budimex | | |
183
|
| |
109
|
| |
-
|
| |
(1)
|
| |
(88)
|
| |
-
|
| |
(1)
|
| |
202
|
|
| Environmental Services | | |
10
|
| |
3
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(13)
|
| |
-
|
|
| Other | | |
(15)
|
| |
3
|
| |
2
|
| |
1
|
| |
-
|
| |
10
|
| |
2
|
| |
3
|
|
| TOTAL | | |
640
|
| |
138
|
| |
(17)
|
| |
1
|
| |
(270)
|
| |
28
|
| |
1,270
|
| |
1,790
|
|
| | | |
12.31.2022
|
| | | | |
Change 22/21
|
| | | | ||||||
|
(Million euro)
|
| |
Bonds
|
| |
Bank
borrowings |
| |
Total
|
| |
Bonds
|
| |
Bank
borrowings |
| |
Total
|
|
| Long term | | |
4,123
|
| |
3,770
|
| |
7,893
|
| |
233
|
| |
298
|
| |
531
|
|
| Toll roads | | |
4,123
|
| |
3,361
|
| |
7,484
|
| |
233
|
| |
170
|
| |
403
|
|
| US toll roads | | |
4,123
|
| |
2,438
|
| |
6,561
|
| |
233
|
| |
201
|
| |
434
|
|
| Spanish toll roads | | |
-
|
| |
626
|
| |
626
|
| |
-
|
| |
(6)
|
| |
(6)
|
|
| Portuguese toll roads | | |
-
|
| |
264
|
| |
264
|
| |
-
|
| |
(13)
|
| |
(13)
|
|
| Other concessions | | |
-
|
| |
33
|
| |
33
|
| |
-
|
| |
(12)
|
| |
(12)
|
|
| Airports | | |
-
|
| |
95
|
| |
95
|
| |
-
|
| |
95
|
| |
95
|
|
| Construction | | |
-
|
| |
95
|
| |
95
|
| |
-
|
| |
2
|
| |
2
|
|
| Energy and mobility infrastructures | | |
-
|
| |
219
|
| |
219
|
| |
-
|
| |
32
|
| |
32
|
|
| Short term | | |
-
|
| |
74
|
| |
74
|
| |
(1)
|
| |
28
|
| |
27
|
|
| Toll roads | | |
-
|
| |
43
|
| |
43
|
| |
(1)
|
| |
3
|
| |
2
|
|
| US toll roads | | |
-
|
| |
-
|
| |
-
|
| |
(1)
|
| |
-
|
| |
(1)
|
|
| Spanish toll roads | | |
-
|
| |
13
|
| |
13
|
| |
-
|
| |
2
|
| |
2
|
|
| Portuguese toll roads | | |
-
|
| |
17
|
| |
17
|
| |
-
|
| |
3
|
| |
3
|
|
| Other concessions | | |
-
|
| |
13
|
| |
13
|
| |
-
|
| |
(2)
|
| |
(2)
|
|
| Energy and mobility infrastructures | | |
-
|
| |
9
|
| |
9
|
| |
-
|
| |
6
|
| |
6
|
|
| Construction | | |
-
|
| |
4
|
| |
4
|
| |
-
|
| |
1
|
| |
1
|
|
| Airports | | |
-
|
| |
18
|
| |
18
|
| |
-
|
| |
18
|
| |
18
|
|
| TOTAL | | |
4,123
|
| |
3,844
|
| |
7,967
|
| |
232
|
| |
326
|
| |
558
|
|
| | | |
12.31.2021
|
| | | | |||
|
(Million euro)
|
| |
Bonds
|
| |
Borrowings
|
| |
Total
|
|
| Long term | | |
3,890
|
| |
3,472
|
| |
7,362
|
|
| Toll roads | | |
3,890
|
| |
3,191
|
| |
7,081
|
|
| US toll roads | | |
3,890
|
| |
2,237
|
| |
6,127
|
|
| Spanish toll roads | | |
-
|
| |
632
|
| |
632
|
|
| Portuguese toll roads | | |
-
|
| |
277
|
| |
277
|
|
| Other concessions | | |
-
|
| |
45
|
| |
45
|
|
| Airports | | |
-
|
| |
-
|
| |
-
|
|
| Construction | | |
-
|
| |
93
|
| |
93
|
|
| Energy and mobility infrastructures | | |
-
|
| |
187
|
| |
187
|
|
| Short term | | |
1
|
| |
46
|
| |
47
|
|
| Toll roads | | |
1
|
| |
40
|
| |
41
|
|
| US toll roads | | |
1
|
| |
-
|
| |
1
|
|
| Spanish toll roads | | |
-
|
| |
11
|
| |
11
|
|
| Portuguese toll roads | | |
-
|
| |
14
|
| |
14
|
|
| Other concessions | | |
-
|
| |
15
|
| |
15
|
|
| Energy and mobility infrastructures | | |
-
|
| |
3
|
| |
3
|
|
| Construction | | |
-
|
| |
3
|
| |
3
|
|
| Airports | | |
-
|
| |
-
|
| |
-
|
|
| TOTAL | | |
3,892
|
| |
3,517
|
| |
7,409
|
|
|
(Million euro)
|
| |
12.31.2021
|
| |
Increase/
decrease with impact on cash flow |
| |
Foreign
exchange effect |
| |
Impact of
consolidation scope changes and other |
| |
Capitalized/
accrued interest |
| |
12.31.2022
|
|
| Gross borrowing position, project | | |
7,409
|
| |
(7)
|
| |
385
|
| |
115
|
| |
65
|
| |
7,967
|
|
|
(Million euro)
|
| |
Long term
|
| |
Short term
|
| |
2022
|
| |
Change 22//21
|
|
| Transchile Charrúa Transmisión, S.A. | | |
98
|
| |
6
|
| |
104
|
| |
3
|
|
| Centella Transmisión, S.A. | | |
73
|
| |
-
|
| |
73
|
| |
41
|
|
| Conc. Prisiones Lledoners, S.A. | | |
65
|
| |
2
|
| |
67
|
| |
(2)
|
|
| Depusa Aragón, S.A. | | |
25
|
| |
1
|
| |
26
|
| |
(1)
|
|
| Autovía de Aragón, Sociedad Concesionaria, S.A. | | |
33
|
| |
13
|
| |
46
|
| |
(11)
|
|
| Pilum, S.A. | | |
-
|
| |
-
|
| |
-
|
| |
(5)
|
|
| Budimex group | | |
5
|
| |
-
|
| |
5
|
| |
5
|
|
| Dalaman International Airport | | |
95
|
| |
18
|
| |
112
|
| |
112
|
|
| UK Waste Treatment (Thalia) | | |
48
|
| |
3
|
| |
51
|
| |
(6)
|
|
| TOTAL Other infrastructure project company borrowings | | |
442
|
| |
43
|
| |
486
|
| |
138
|
|
|
(Million euro)
|
| |
Long term
|
| |
Short term
|
| |
2021
|
|
| Transchile Charrúa Transmisión, S.A. | | |
99
|
| |
2
|
| |
101
|
|
| Centella Transmisión, S.A. | | |
32
|
| |
-
|
| |
32
|
|
| Conc. Prisiones Lledoners, S.A. | | |
67
|
| |
2
|
| |
69
|
|
| Depusa Aragón, S.A. | | |
26
|
| |
1
|
| |
27
|
|
| Autovía de Aragón, Sociedad Concesionaria, S.A. | | |
46
|
| |
11
|
| |
57
|
|
| Pilum, S.A. | | |
-
|
| |
5
|
| |
5
|
|
| UK Waste Treatment (Thalia) | | |
56
|
| |
1
|
| |
57
|
|
| TOTAL Other infrastructure project borrowings | | |
326
|
| |
22
|
| |
348
|
|
|
(Million euro)
|
| |
Currency
|
| |
Fair value
2022 |
| |
Carrying
amount 2022 |
| |
2023
|
| |
2024
|
| |
2025
|
| |
2026
|
| |
2027
|
| |
2028+
|
| |
Total
maturities |
|
|
Infrastructure project company obligations
|
| | | | |
3,007
|
| |
4,123
|
| |
-
|
| |
-
|
| |
1
|
| |
8
|
| |
1
|
| |
2,716
|
| |
2,726
|
|
| TOLL ROADS | | |
|
| |
3,007
|
| |
4,123
|
| |
-
|
| |
-
|
| |
1
|
| |
8
|
| |
1
|
| |
2,716
|
| |
2,726
|
|
| | | |
USD
|
| |
3,007
|
| |
4,123
|
| |
-
|
| |
-
|
| |
1
|
| |
8
|
| |
1
|
| |
2,716
|
| |
2,726
|
|
| | | |
EUR
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
|
Bank borrowings of infrastructure project companies
|
| | | | |
3,844
|
| |
3,844
|
| |
107
|
| |
68
|
| |
81
|
| |
257
|
| |
79
|
| |
4,820
|
| |
5,412
|
|
| TOLL ROADS | | |
|
| |
3,404
|
| |
3,404
|
| |
90
|
| |
49
|
| |
59
|
| |
56
|
| |
53
|
| |
4,647
|
| |
4,955
|
|
| | | |
USD
|
| |
2,438
|
| |
2,438
|
| |
49
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
3,944
|
| |
3,994
|
|
| | | |
EUR
|
| |
966
|
| |
966
|
| |
41
|
| |
49
|
| |
59
|
| |
56
|
| |
53
|
| |
703
|
| |
961
|
|
| AIRPORTS | | |
|
| |
112
|
| |
112
|
| |
9
|
| |
10
|
| |
14
|
| |
16
|
| |
18
|
| |
57
|
| |
124
|
|
| | | |
EUR
|
| |
112
|
| |
112
|
| |
9
|
| |
10
|
| |
14
|
| |
16
|
| |
18
|
| |
57
|
| |
124
|
|
| CONSTRUCTION | | |
|
| |
99
|
| |
99
|
| |
3
|
| |
4
|
| |
4
|
| |
4
|
| |
5
|
| |
79
|
| |
99
|
|
| | | |
EUR
|
| |
94
|
| |
94
|
| |
3
|
| |
4
|
| |
4
|
| |
4
|
| |
5
|
| |
74
|
| |
94
|
|
| | | |
PLN
|
| |
5
|
| |
5
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
5
|
| |
5
|
|
|
ENERGY AND MOBILITY INFRASTRUCTURES
|
| |
|
| |
228
|
| |
228
|
| |
4
|
| |
5
|
| |
5
|
| |
181
|
| |
3
|
| |
37
|
| |
234
|
|
| | | |
USD
|
| |
177
|
| |
177
|
| |
1
|
| |
2
|
| |
2
|
| |
178
|
| |
-
|
| |
-
|
| |
183
|
|
| | | |
GBP
|
| |
51
|
| |
51
|
| |
3
|
| |
3
|
| |
3
|
| |
3
|
| |
3
|
| |
37
|
| |
51
|
|
|
TOTAL INFRASTRUCTURE PROJECT COMPANY BORROWINGS
|
| | | | |
6,851
|
| |
7,967
|
| |
107
|
| |
68
|
| |
82
|
| |
265
|
| |
80
|
| |
7,536
|
| |
8,137
|
|
|
(Million euro)
|
| |
Currency
|
| |
Fair value
2021 |
| |
Carrying
amount 2021 |
| |
2022
|
| |
2023
|
| |
2024
|
| |
2025
|
| |
2026
|
| |
2027+
|
| |
Total
maturities |
|
| Infrastructure project obligations | | | | | |
3,659
|
| |
3,892
|
| |
-
|
| |
-
|
| |
-
|
| |
1
|
| |
7
|
| |
2,558
|
| |
2,566
|
|
| TOLL ROADS | | |
|
| |
3,659
|
| |
3,892
|
| |
-
|
| |
-
|
| |
-
|
| |
1
|
| |
7
|
| |
2,558
|
| |
2,566
|
|
| | | |
USD
|
| |
3,659
|
| |
3,892
|
| |
-
|
| |
-
|
| |
-
|
| |
1
|
| |
7
|
| |
2,558
|
| |
2,566
|
|
| | | |
EUR
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
|
Bank borrowings of infrastructure project companies
|
| | | | |
2,556
|
| |
3,517
|
| |
44
|
| |
91
|
| |
56
|
| |
65
|
| |
192
|
| |
4,541
|
| |
4,989
|
|
| TOLL ROADS | | |
|
| |
2,461
|
| |
3,232
|
| |
39
|
| |
86
|
| |
49
|
| |
59
|
| |
56
|
| |
4,408
|
| |
4,698
|
|
| | | |
USD
|
| |
1,466
|
| |
2,237
|
| |
-
|
| |
45
|
| |
-
|
| |
-
|
| |
-
|
| |
3,652
|
| |
3,697
|
|
| | | |
EUR
|
| |
995
|
| |
959
|
| |
39
|
| |
41
|
| |
49
|
| |
59
|
| |
56
|
| |
756
|
| |
1,001
|
|
| AIRPORTS | | |
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| | | |
EUR
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| CONSTRUCTION | | |
|
| |
96
|
| |
96
|
| |
1
|
| |
1
|
| |
1
|
| |
2
|
| |
2
|
| |
91
|
| |
98
|
|
| | | |
EUR
|
| |
96
|
| |
96
|
| |
1
|
| |
1
|
| |
1
|
| |
2
|
| |
2
|
| |
91
|
| |
98
|
|
| SERVICES | | |
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| | | |
GBP
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| | | |
EUR
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
|
ENERGY AND MOBILITY INFRASTRUCTURES
|
| |
|
| |
133
|
| |
133
|
| |
1
|
| |
1
|
| |
2
|
| |
2
|
| |
131
|
| |
-
|
| |
137
|
|
| | | |
USD
|
| |
133
|
| |
133
|
| |
1
|
| |
1
|
| |
2
|
| |
2
|
| |
131
|
| |
-
|
| |
137
|
|
| | | |
EUR
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| WASTE TREATMENT | | |
|
| |
57
|
| |
57
|
| |
3
|
| |
3
|
| |
3
|
| |
3
|
| |
3
|
| |
42
|
| |
57
|
|
| | | |
USD
|
| |
57
|
| |
57
|
| |
3
|
| |
3
|
| |
3
|
| |
3
|
| |
3
|
| |
42
|
| |
57
|
|
| | | |
GBP
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
|
TOTAL INFRASTRUCTURE PROJECT BORROWINGS
|
| | | | |
6,215
|
| |
7,409
|
| |
44
|
| |
91
|
| |
56
|
| |
66
|
| |
199
|
| |
7,099
|
| |
7,555
|
|
|
2022
(Million euro) |
| |
Limit
|
| |
Utilized
|
| |
Drawable
|
| |
Debt recognized in the
accounts |
|
| Toll roads | | |
7,748
|
| |
7,681
|
| |
68
|
| |
7,527
|
|
| US toll roads | | |
6,787
|
| |
6,719
|
| |
68
|
| |
6,561
|
|
| Spanish toll roads | | |
636
|
| |
636
|
| |
-
|
| |
639
|
|
| Other concessions | | |
325
|
| |
325
|
| |
-
|
| |
327
|
|
| Energy and mobility infrastructures | | |
291
|
| |
234
|
| |
57
|
| |
228
|
|
| Airports | | |
124
|
| |
124
|
| |
-
|
| |
112
|
|
| Construction | | |
99
|
| |
99
|
| |
-
|
| |
99
|
|
| TOTAL BORROWINGS | | |
8,262
|
| |
8,137
|
| |
125
|
| |
7,967
|
|
|
2021
(Million euro) |
| |
Limit
|
| |
Utilized
|
| |
Drawable
|
| |
Debt recognized in the
accounts |
|
| Toll roads | | |
7,289
|
| |
7,264
|
| |
25
|
| |
7,124
|
|
| US toll roads | | |
6,263
|
| |
6,263
|
| |
-
|
| |
6,129
|
|
| Spanish toll roads | | |
671
|
| |
646
|
| |
25
|
| |
643
|
|
| Other concessions | | |
354
|
| |
354
|
| |
-
|
| |
352
|
|
| Energy and mobility infrastructures | | |
284
|
| |
194
|
| |
90
|
| |
190
|
|
| Construction | | |
98
|
| |
98
|
| |
-
|
| |
96
|
|
| TOTAL BORROWINGS | | |
7,670
|
| |
7,555
|
| |
115
|
| |
7,409
|
|
| | | |
2022
|
| ||||||
|
(Million euro)
|
| |
Long term
|
| |
Short term
|
| |
Total
|
|
| Corporate bonds and debentures | | |
2,072
|
| |
16
|
| |
2,088
|
|
| Euro Commercial Paper | | |
-
|
| |
696
|
| |
696
|
|
| Corporate liquidity lines | | |
802
|
| |
3
|
| |
805
|
|
| Other borrowings | | |
9
|
| |
88
|
| |
97
|
|
|
TOTAL BORROWINGS EXCLUDING INFRASTRUCTURE PROJECT COMPANIES
|
| |
2,883
|
| |
804
|
| |
3,686
|
|
| | | |
2021
|
| ||||||
|
(Million euro)
|
| |
Long term
|
| |
Short term
|
| |
Total
|
|
| Corporate bonds and debentures | | |
2,069
|
| |
517
|
| |
2,586
|
|
| Euro Commercial Paper | | |
-
|
| |
250
|
| |
250
|
|
| Corporate liquidity lines | | |
60
|
| |
241
|
| |
301
|
|
| Other borrowings | | |
22
|
| |
42
|
| |
64
|
|
|
TOTAL BORROWINGS EXCLUDING INFRASTRUCTURE PROJECT COMPANIES
|
| |
2,151
|
| |
1,050
|
| |
3,201
|
|
|
(Million euro)
|
| |
Dec.
2021 |
| |
Increase/
decrease with impact on cash flow |
| |
Foreign
exchange effect |
| |
Impact of
consolida tion scope changes |
| |
Capitalized/
accrued interest and other |
| |
Dec.
2022 |
|
| Bank borrowings/ Project bonds | | |
3,178
|
| |
549
|
| |
(14)
|
| |
-
|
| |
(26)
|
| |
3,686
|
|
| Cross-Currency Swaps | | |
9
|
| |
-
|
| |
(4)
|
| |
-
|
| |
-
|
| |
5
|
|
| Gross borrowing position, ex-project companies | | |
3,186
|
| |
549
|
| |
(19)
|
| |
-
|
| |
(26)
|
| |
3,691
|
|
|
Issuance date
(Million euro) |
| |
Nominal value (million euro)
|
| |
Maturity
|
| |
Annual coupon
|
|
| 15/7/2014 | | |
300
|
| |
15/7/2024
|
| |
2.500%
|
|
| 29/3/2017 | | |
500
|
| |
31/3/2025
|
| |
1.375%
|
|
| 14/5/2020 | | |
650
|
| |
14/5/2026
|
| |
1.382%
|
|
| 24/6/2020 | | |
131
|
| |
14/5/2026
|
| |
1.382%
|
|
| 12/11/2020 | | |
500
|
| |
12/11/2028
|
| |
0.540%
|
|
| | | |
2022
|
| |||||||||
|
(Million euro)
|
| |
Limit
|
| |
Utilized
|
| |
Drawable
|
| |
Consolidated debt
|
|
| Bonds | | |
2,081
|
| |
2,081
|
| |
-
|
| |
2,088
|
|
| Syndicated facility | | |
1,100
|
| |
250
|
| |
850
|
| |
245
|
|
| ECPs | | |
696
|
| |
696
|
| |
-
|
| |
696
|
|
| Credit lines | | |
560
|
| |
560
|
| |
-
|
| |
560
|
|
| TOTAL CORPORATE DEBT | | |
4,437
|
| |
3,587
|
| |
850
|
| |
3,589
|
|
| | | |
2021
|
| |||||||||
|
(Million euro)
|
| |
Limit
|
| |
Utilized
|
| |
Drawable
|
| |
Consolidated debt
|
|
| Bonds | | |
2,581
|
| |
2,581
|
| |
-
|
| |
2,586
|
|
| Syndicated facility | | |
900
|
| |
250
|
| |
650
|
| |
241
|
|
| ECPs | | |
250
|
| |
250
|
| |
-
|
| |
250
|
|
| Credit lines | | |
60
|
| |
60
|
| |
-
|
| |
60
|
|
| TOTAL CORPORATE DEBT | | |
3,791
|
| |
3,141
|
| |
650
|
| |
3,136
|
|
| | | |
2022
|
| |||||||||
|
(Million euro)
|
| |
Limit
|
| |
Utilized
|
| |
Drawable
|
| |
Consolidated debt
|
|
| Construction | | |
149
|
| |
37
|
| |
112
|
| |
33
|
|
| Airports | | |
-
|
| |
-
|
| |
-
|
| |
41
|
|
| Energy and mobility infrastructures | | |
24
|
| |
22
|
| |
2
|
| |
23
|
|
| OTHER BORROWINGS | | |
173
|
| |
59
|
| |
114
|
| |
97
|
|
| | | |
2021
|
| |||||||||
|
(Million euro)
|
| |
Limit
|
| |
Utilized
|
| |
Drawable
|
| |
Consolidated debt
|
|
| Construction | | |
190
|
| |
57
|
| |
133
|
| |
40
|
|
| Energy and mobility infrastructures | | |
25
|
| |
25
|
| |
-
|
| |
24
|
|
| OTHER BORROWINGS | | |
215
|
| |
82
|
| |
133
|
| |
64
|
|
|
Borrowings (million euro)
|
| |
Currency
|
| |
Fair value
2022 |
| |
Carrying
amount 2022 |
| |
2023
|
| |
2024
|
| |
2025
|
| |
2026
|
| |
2027
|
| |
2028+
|
| |
Total
maturities |
|
| Corporate debt | | | | | |
3,385
|
| |
3,589
|
| |
696
|
| |
300
|
| |
750
|
| |
781
|
| |
560
|
| |
500
|
| |
3,587
|
|
| | | |
EUR
|
| |
3,385
|
| |
3,589
|
| |
696
|
| |
300
|
| |
750
|
| |
781
|
| |
560
|
| |
500
|
| |
3,587
|
|
| Other borrowings | | | | | |
97
|
| |
97
|
| |
22
|
| |
3
|
| |
9
|
| |
17
|
| |
8
|
| |
2
|
| |
59
|
|
| | | |
EUR
|
| |
13
|
| |
13
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
1
|
| |
2
|
|
| | | |
PLN
|
| |
14
|
| |
14
|
| |
-
|
| |
1
|
| |
9
|
| |
3
|
| |
1
|
| |
1
|
| |
14
|
|
| | | |
CLP
|
| |
23
|
| |
23
|
| |
22
|
| |
1
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
22
|
|
| | | |
Other
|
| |
48
|
| |
48
|
| |
-
|
| |
-
|
| |
-
|
| |
14
|
| |
7
|
| |
-
|
| |
21
|
|
|
TOTAL BORROWINGS EXCLUDING INFRASTRUCTURE PROJECT COMPANIES
|
| | | | |
3,482
|
| |
3,686
|
| |
718
|
| |
303
|
| |
759
|
| |
798
|
| |
568
|
| |
502
|
| |
3,646
|
|
|
Borrowings (Million euro)
|
| |
Currency
|
| |
Fair value
2021 |
| |
Carrying
amount 2021 |
| |
2022
|
| |
2023
|
| |
2024
|
| |
2025
|
| |
2026
|
| |
2027+
|
| |
Total
maturities |
|
| Corporate debt | | | | | |
3,213
|
| |
3,136
|
| |
750
|
| |
-
|
| |
300
|
| |
750
|
| |
781
|
| |
560
|
| |
3,141
|
|
| | | |
EUR
|
| |
3,213
|
| |
3,136
|
| |
750
|
| |
-
|
| |
300
|
| |
750
|
| |
781
|
| |
560
|
| |
3,141
|
|
| Other borrowings | | | | | |
65
|
| |
41
|
| |
25
|
| |
5
|
| |
5
|
| |
7
|
| |
25
|
| |
16
|
| |
83
|
|
| | | |
EUR
|
| |
12
|
| |
12
|
| |
-
|
| |
-
|
| |
1
|
| |
-
|
| |
-
|
| |
1
|
| |
2
|
|
| | | |
PLN
|
| |
28
|
| |
28
|
| |
1
|
| |
5
|
| |
2
|
| |
7
|
| |
7
|
| |
7
|
| |
28
|
|
| | | |
CLP
|
| |
24
|
| |
24
|
| |
24
|
| |
-
|
| |
2
|
| |
-
|
| |
-
|
| |
-
|
| |
26
|
|
| | | |
Other
|
| |
1
|
| |
1
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
18
|
| |
9
|
| |
27
|
|
|
TOTAL BORROWINGS EXCLUDING INFRASTRUCTURE PROJECT COMPANIES
|
| | | | |
3,278
|
| |
3,201
|
| |
775
|
| |
5
|
| |
305
|
| |
757
|
| |
806
|
| |
576
|
| |
3,224
|
|
|
(Million euro)
|
| |
2022
|
| |
2021
|
| |
2020
|
|
| Cash flows from operating activities ex tax payments | | |
1,084
|
| |
965
|
| |
1,194
|
|
| Tax payments | | |
(82)
|
| |
(155)
|
| |
(101)
|
|
| Cash flows from operating activities | | |
1,002
|
| |
810
|
| |
1,093
|
|
| Investment | | |
(1,161)
|
| |
(1,164)
|
| |
(118)
|
|
| Divestment | | |
429
|
| |
1,621
|
| |
501
|
|
| Cash flows from investing activities | | |
(732)
|
| |
457
|
| |
383
|
|
| Cash flows before financing activities | | |
270
|
| |
1,267
|
| |
1,476
|
|
| | | | | | | | | | | |
| Cash flows from (used in) financing activities | | |
(676)
|
| |
(2,275)
|
| |
334
|
|
| | | | | | | | | | | |
| Change in cash and cash equivalents | | |
(406)
|
| |
(1,008)
|
| |
1,810
|
|
|
2022 – 2020
(Million euro) |
| |
2022
|
| |
2021
|
| |
2020
|
|
| Cash flows from operating activities ex tax payments | | |
83
|
| |
231
|
| |
414
|
|
| Tax payments | | |
(4)
|
| |
(74)
|
| |
(2)
|
|
| Cash flows from operating activities | | |
78
|
| |
157
|
| |
412
|
|
| Investment | | |
(2)
|
| |
(67)
|
| |
(85)
|
|
| Divestment | | |
9
|
| |
0
|
| |
321
|
|
| Cash flows before financing activities | | |
86
|
| |
90
|
| |
648
|
|
|
BORROWINGS
|
| |
2022
|
| |||||||||
|
(Million euro)
|
| |
Total gross debt
|
| |
% debt hedged
|
| |
Net exposed debt
|
| |
Impact on profit/(loss) +
100 bps |
|
| Ex-infrastructure project companies | | |
3,691
|
| |
79%
|
| |
772
|
| |
8
|
|
| Toll roads | | |
7,527
|
| |
98%
|
| |
157
|
| |
2
|
|
| Construction | | |
99
|
| |
97%
|
| |
3
|
| |
-
|
|
| Energy and Mobility infrastructures | | |
228
|
| |
80%
|
| |
46
|
| |
-
|
|
| Airports | | |
112
|
| |
100%
|
| |
-
|
| |
3
|
|
| Infrastructure project companies | | |
7,967
|
| |
96%
|
| |
317
|
| |
3
|
|
| Total borrowings | | |
11,658
|
| |
92%
|
| |
962
|
| |
11
|
|
|
BORROWINGS
|
| |
2021
|
| |||||||||
|
(Million euro)
|
| |
Total gross debt
|
| |
% debt hedged
|
| |
Net exposed debt
|
| |
Impact on profit/(loss) +
100 bps |
|
| Ex-infrastructure project companies | | |
3,211
|
| |
92%
|
| |
257
|
| |
3
|
|
| Toll roads | | |
7,124
|
| |
99%
|
| |
97
|
| |
1
|
|
| Construction | | |
96
|
| |
100%
|
| |
-
|
| |
-
|
|
| Energy and Mobility infrastructures | | |
189
|
| |
100%
|
| |
-
|
| |
-
|
|
| Corporate and other | | |
54
|
| |
95%
|
| |
3
|
| |
-
|
|
| Infrastructure projects companies | | |
7,463
|
| |
99%
|
| |
105
|
| |
1
|
|
| Total borrowings | | |
10,674
|
| |
97%
|
| |
370
|
| |
4
|
|
|
Currency
|
| |
12.31.2022
|
| |||||||||
|
(Million euro)
|
| |
Assets
|
| |
Liabilities
|
| |
Parent company
shareholders’ funds |
| |
Non-controlling
interests |
|
| Euro | | |
9,494
|
| |
6,945
|
| |
2,364
|
| |
186
|
|
| Pound sterling | | |
1,126
|
| |
638
|
| |
487
|
| |
1
|
|
| US dollar | | |
12,307
|
| |
10,032
|
| |
414
|
| |
1,860
|
|
| Canadian dollar | | |
541
|
| |
377
|
| |
164
|
| |
-
|
|
| Australian dollar | | |
186
|
| |
141
|
| |
45
|
| |
-
|
|
| Polish zloty | | |
1,653
|
| |
1,341
|
| |
119
|
| |
193
|
|
| Chilean peso | | |
342
|
| |
244
|
| |
98
|
| |
-
|
|
| Colombian peso | | |
167
|
| |
105
|
| |
61
|
| |
-
|
|
| Indian rupee | | |
380
|
| |
1
|
| |
379
|
| |
-
|
|
| Other | | |
141
|
| |
39
|
| |
103
|
| |
-
|
|
| GROUP TOTAL | | |
26,336
|
| |
19,863
|
| |
4,233
|
| |
2,240
|
|
|
Currency
|
| |
12.31.2021
|
| |||||||||
|
(Million euro)
|
| |
Assets
|
| |
Liabilities
|
| |
Parent company
shareholders’ |
| |
Non-controlling
interests |
|
| Euro | | |
8,053
|
| |
6,299
|
| |
1,609
|
| |
145
|
|
| Pound sterling | | |
1,545
|
| |
1,601
|
| |
(57)
|
| |
1
|
|
| US dollar | | |
12,095
|
| |
9,211
|
| |
1,442
|
| |
1,443
|
|
| Canadian dollar | | |
801
|
| |
101
|
| |
700
|
| |
-
|
|
| Australian dollar | | |
187
|
| |
144
|
| |
43
|
| |
-
|
|
| Polish zloty | | |
1,556
|
| |
1,210
|
| |
144
|
| |
202
|
|
| Chilean peso | | |
309
|
| |
226
|
| |
84
|
| |
-
|
|
| Colombian peso | | |
191
|
| |
108
|
| |
83
|
| |
-
|
|
| Indian rupee | | |
52
|
| |
-
|
| |
51
|
| |
-
|
|
| Other | | |
83
|
| |
27
|
| |
57
|
| |
(1)
|
|
| TOTAL GROUP | | |
24,873
|
| |
19,927
|
| |
4,156
|
| |
1,790
|
|
|
(Million euro)
|
| |
2022
|
| |
2021
|
| |
Var. 22/21
|
|
| Investments in financial assets (1) | | |
569
|
| |
1,017
|
| |
(448)
|
|
| Non-current financial assets | | |
1,258
|
| |
1,049
|
| |
209
|
|
| Net financial derivatives (assets) | | |
331
|
| |
309
|
| |
23
|
|
| Trade and other receivables | | |
1,609
|
| |
1,344
|
| |
264
|
|
|
|
TYPE OF INSTRUMENT
|
| |
FAIR
VALUE |
| | | | | | | | | | |
NOTIONAL MATURITIES
|
| | | | ||||||
|
(Million euro)
|
| |
BALANCES
AT 12.31.2022 |
| |
BALANCES
AT 12.31.2021 |
| |
2023
|
| |
2024
|
| |
2025
|
| |
2026
|
| |
2027 and
beyond |
| |
TOTAL
|
|
| ASSET BALANCES | | |
332
|
| |
224
|
| |
4,130
|
| |
53
|
| |
32
|
| |
107
|
| |
913
|
| |
5,235
|
|
| Toll road index-linked swaps | | |
77
|
| |
299
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
66
|
| |
66
|
|
| Corporate IRS | | |
10
|
| |
(31)
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
350
|
| |
350
|
|
| Transchile and Centella IRS | | |
60
|
| |
(3)
|
| |
40
|
| |
-
|
| |
-
|
| |
107
|
| |
366
|
| |
513
|
|
| Dalaman IRS | | |
6
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
100
|
| |
100
|
|
| Equity swaps - Corporate | | |
2
|
| |
11
|
| |
65
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
65
|
|
| Corporate foreign exchange derivatives | | |
3
|
| |
(2)
|
| |
179
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
179
|
|
| Toll roads foreign exchange derivatives | | |
164
|
| |
(44)
|
| |
3,581
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
3,581
|
|
| Other derivatives | | |
10
|
| |
(7)
|
| |
265
|
| |
53
|
| |
32
|
| |
-
|
| |
31
|
| |
381
|
|
| LIABILITY BALANCES | | |
113
|
| |
319
|
| |
5
|
| |
-
|
| |
250
|
| |
38
|
| |
2,529
|
| |
2,822
|
|
| Toll Roads IRS | | |
76
|
| |
291
|
| |
-
|
| |
-
|
| |
-
|
| |
38
|
| |
766
|
| |
804
|
|
| Corporate cross-currency swaps | | |
5
|
| |
8
|
| |
-
|
| |
-
|
| |
250
|
| |
-
|
| |
-
|
| |
250
|
|
| Toll road cross-currency swaps | | |
28
|
| |
1
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
1,712
|
| |
1,712
|
|
| Other derivatives | | |
4
|
| |
19
|
| |
5
|
| |
-
|
| |
-
|
| |
-
|
| |
51
|
| |
56
|
|
| NET BALANCES (ASSETS) | | |
219
|
| |
(95)
|
| |
4,135
|
| |
53
|
| |
282
|
| |
145
|
| |
3,442
|
| |
8,057
|
|
|
TYPE OF INSTRUMENT
|
| |
FAIR
VALUE |
| | | | | | | | | | |
CASH FLOW MATURITIES
|
| | | | ||||||
|
(Million euro)
|
| |
BALANCES
AT 12.31.2022 |
| |
BALANCES
AT 12.31.2021 |
| |
2023
|
| |
2024
|
| |
2025
|
| |
2026
|
| |
2027 and
beyond |
| |
TOTAL
|
|
| ASSET BALANCES | | |
332
|
| |
224
|
| |
195
|
| |
19
|
| |
14
|
| |
13
|
| |
91
|
| |
332
|
|
| Toll road index-linked swaps | | |
77
|
| |
299
|
| |
10
|
| |
7
|
| |
7
|
| |
7
|
| |
47
|
| |
77
|
|
| Corporate IRS | | |
10
|
| |
(31)
|
| |
-
|
| |
4
|
| |
2
|
| |
2
|
| |
2
|
| |
10
|
|
| Transchile and Centella IRS | | |
60
|
| |
(3)
|
| |
8
|
| |
6
|
| |
4
|
| |
3
|
| |
39
|
| |
60
|
|
| Dalaman IRS | | |
6
|
| |
-
|
| |
2
|
| |
2
|
| |
1
|
| |
1
|
| |
-
|
| |
6
|
|
| Equity swaps | | |
2
|
| |
11
|
| |
2
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
2
|
|
| Corporate foreign exchange derivatives | | |
3
|
| |
(2)
|
| |
3
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
3
|
|
| Toll roads foreign exchange derivatives | | |
164
|
| |
(44)
|
| |
164
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
164
|
|
| Other derivatives | | |
10
|
| |
(7)
|
| |
6
|
| |
1
|
| |
-
|
| |
-
|
| |
3
|
| |
10
|
|
| LIABILITY BALANCES | | |
113
|
| |
319
|
| |
27
|
| |
22
|
| |
41
|
| |
26
|
| |
(3)
|
| |
113
|
|
| Toll Roads IRS | | |
76
|
| |
291
|
| |
14
|
| |
9
|
| |
10
|
| |
9
|
| |
34
|
| |
76
|
|
| Corporate cross-currency swaps | | |
5
|
| |
8
|
| |
(6)
|
| |
(4)
|
| |
14
|
| |
-
|
| |
-
|
| |
5
|
|
| Toll road cross-currency swaps | | |
28
|
| |
1
|
| |
17
|
| |
17
|
| |
17
|
| |
16
|
| |
(39)
|
| |
28
|
|
| Other derivatives | | |
4
|
| |
19
|
| |
1
|
| |
-
|
| |
-
|
| |
-
|
| |
2
|
| |
4
|
|
| NET BALANCES (ASSETS) | | |
219
|
| |
(95)
|
| |
167
|
| |
(4)
|
| |
(27)
|
| |
(13)
|
| |
95
|
| |
219
|
|
| | | | | | | | | |
FAIR VALUE
|
| | | | | | | | | | |
EFFECTS
|
| | | | ||||||
|
TYPE OF INSTRUMENT
(Million euro) |
| |
Balance at
12.31.2022 |
| |
Balance at
12.31.2021 |
| |
Variation
|
| |
EFFECT ON
VAR. RESERVES (I) |
| |
FAIR VALUE
EFFECT ON PROFIT/ (LOSS) (II) |
| |
EFFECT ON
FINAL PROFIT/ (LOSS) (III) |
| |
CASH (IV)
|
| |
EXCHANGE
RATE (V) |
| |
OTHER
EFFECTS ON BALANCE SHEET OR INCOME |
| |
TOTAL
|
|
| Inflation derivatives | | |
77
|
| |
299
|
| |
(223)
|
| |
(119)
|
| |
(101)
|
| |
4
|
| |
(13)
|
| |
-
|
| |
6
|
| |
(223)
|
|
| Cash flow hedge | | |
77
|
| |
299
|
| |
(223)
|
| |
(119)
|
| |
(101)
|
| |
4
|
| |
(13)
|
| |
-
|
| |
6
|
| |
(223)
|
|
| Interest rate derivatives | | |
-
|
| |
(343)
|
| |
343
|
| |
302
|
| |
70
|
| |
(45)
|
| |
26
|
| |
2
|
| |
(12)
|
| |
343
|
|
| Cash flow hedge | | |
-
|
| |
(343)
|
| |
343
|
| |
293
|
| |
70
|
| |
(45)
|
| |
26
|
| |
2
|
| |
(1)
|
| |
343
|
|
| Fair value hedge | | |
-
|
| |
-
|
| |
-
|
| |
9
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
(9)
|
| |
-
|
|
| Cross-currency swaps | | |
(32)
|
| |
(9)
|
| |
(24)
|
| |
(56)
|
| |
-
|
| |
6
|
| |
(18)
|
| |
30
|
| |
14
|
| |
(24)
|
|
| Cash flow hedge | | |
(5)
|
| |
(8)
|
| |
3
|
| |
2
|
| |
-
|
| |
5
|
| |
(18)
|
| |
-
|
| |
14
|
| |
3
|
|
| Hedge of net investment in foreign | | |
(28)
|
| |
-
|
| |
(28)
|
| |
(58)
|
| |
-
|
| |
-
|
| |
-
|
| |
(30)
|
| |
-
|
| |
(28)
|
|
| Fair value hedge | | |
-
|
| |
(1)
|
| |
1
|
| |
-
|
| |
-
|
| |
1
|
| |
-
|
| |
-
|
| |
-
|
| |
1
|
|
| Foreign exchange derivatives | | |
172
|
| |
(54)
|
| |
226
|
| |
4
|
| |
6
|
| |
(50)
|
| |
358
|
| |
(91)
|
| |
-
|
| |
226
|
|
| Fair value hedge | | |
3
|
| |
(7)
|
| |
9
|
| |
1
|
| |
2
|
| |
-
|
| |
19
|
| |
(12)
|
| |
-
|
| |
9
|
|
| Hedge of net investment in foreign operations | | |
169
|
| |
(43)
|
| |
212
|
| |
-
|
| |
(4)
|
| |
(50)
|
| |
345
|
| |
(78)
|
| |
-
|
| |
212
|
|
| Cash flow hedge | | |
1
|
| |
(4)
|
| |
5
|
| |
3
|
| |
1
|
| |
-
|
| |
1
|
| |
-
|
| |
-
|
| |
5
|
|
| Speculative | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
8
|
| |
-
|
| |
(8)
|
| |
-
|
| |
-
|
| |
-
|
|
| Equity swaps | | |
2
|
| |
11
|
| |
(9)
|
| |
-
|
| |
(9)
|
| |
2
|
| |
(2)
|
| |
-
|
| |
-
|
| |
(9)
|
|
| Speculative | | |
2
|
| |
11
|
| |
(9)
|
| |
-
|
| |
(9)
|
| |
2
|
| |
(2)
|
| |
-
|
| |
-
|
| |
(9)
|
|
| TOTAL | | |
219
|
| |
(95)
|
| |
314
|
| |
131
|
| |
(33)
|
| |
(84)
|
| |
352
|
| |
(58)
|
| |
8
|
| |
314
|
|
|
(Million euro)
|
| |
2022
|
| |
2021
|
| |
Var. 22/21
|
|
| Capital grants | | |
1,377
|
| |
1,380
|
| |
(3)
|
|
| Other deferred income | | |
33
|
| |
23
|
| |
10
|
|
| TOTAL DEFERRED INCOME | | |
1,410
|
| |
1,403
|
| |
7
|
|
|
(Million euro)
|
| |
LITIGATION
AND TAXES |
| |
REPLACEMENT
AND UPGRADES IFRIC 12 |
| |
OTHER
LONG- TERM RISKS |
| |
TOTAL NON-
CURRENT PROVISIONS |
| |
TRADE
PROVISIONS |
| |
TOTAL
|
|
| Balance at December 31, 2021 | | |
153
|
| |
88
|
| |
58
|
| |
299
|
| |
1,002
|
| |
1,301
|
|
| Scope changes and transfers | | |
(3)
|
| |
-
|
| |
(13)
|
| |
(16)
|
| |
5
|
| |
(11)
|
|
| Charges: | | |
22
|
| |
33
|
| |
9
|
| |
64
|
| |
350
|
| |
414
|
|
| Operating profit/(loss) | | |
21
|
| |
-
|
| |
2
|
| |
23
|
| |
338
|
| |
361
|
|
| Net financial income/(expense) | | |
1
|
| |
9
|
| |
-
|
| |
10
|
| |
2
|
| |
12
|
|
| Impairment and disposals | | |
-
|
| |
-
|
| |
7
|
| |
7
|
| |
10
|
| |
17
|
|
| Corporate income tax | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Fixed asset depreciation | | |
-
|
| |
24
|
| |
-
|
| |
24
|
| |
-
|
| |
24
|
|
| Reversals: | | |
(19)
|
| |
(29)
|
| |
(5)
|
| |
(53)
|
| |
(207)
|
| |
(260)
|
|
| Operating profit/(loss) | | |
(12)
|
| |
-
|
| |
(5)
|
| |
(17)
|
| |
(205)
|
| |
(222)
|
|
| Net financial income/(expense) | | |
(1)
|
| |
-
|
| |
-
|
| |
(1)
|
| |
-
|
| |
(1)
|
|
| Impairment and disposals | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
|
| Corporate income tax | | |
(6)
|
| |
-
|
| |
-
|
| |
(6)
|
| |
-
|
| |
(6)
|
|
| Fixed asset depreciation | | |
-
|
| |
(29)
|
| |
-
|
| |
(29)
|
| |
(2)
|
| |
(31)
|
|
|
Applications with balancing entries in current accounts
|
| |
(5)
|
| |
-
|
| |
-
|
| |
(5)
|
| |
(196)
|
| |
(201)
|
|
|
Applications with balancing entries in other assets
|
| |
(2)
|
| |
-
|
| |
(1)
|
| |
(3)
|
| |
(19)
|
| |
(22)
|
|
| Foreign exchange differences | | |
-
|
| |
5
|
| |
-
|
| |
5
|
| |
(5)
|
| |
(1)
|
|
| Balance at December 31, 2022 | | |
146
|
| |
97
|
| |
47
|
| |
291
|
| |
930
|
| |
1,221
|
|
|
(Million euro)
|
| |
12.31.2022
|
| |
12.31.2021
|
|
| Construction | | |
6,067
|
| |
5,284
|
|
| Toll roads | | |
642
|
| |
856
|
|
| Airports | | |
1,044
|
| |
42
|
|
| Energy and mobility infrastructures | | |
81
|
| |
-
|
|
| Other | | |
258
|
| |
315
|
|
| Total continuing operations | | |
8,093
|
| |
6,497
|
|
| Services | | |
-
|
| |
603
|
|
| Total discounted operations | | |
-
|
| |
603
|
|
| TOTAL | | |
8,093
|
| |
7,099
|
|
|
BENEFICIARY COMPANY (PROJECT)
|
| |
GUARANTEE PURPOSE
|
| |
AMOUNT
|
|
| Conc. Prisiones Lledoners | | | Technical guarantee to repay amounts to the bank in the event of termination of the contract. Does not cover insolvency (default) or breach by the awarding entity | | |
66
|
|
| GUARANTEES FOR CONSTRUCTION PROJECTS | | |
66
|
| |||
| I-66 | | | Guarantee covering project cost overruns | | |
14
|
|
| GUARANTEES FOR TOLL ROAD PROJECTS | | |
14
|
| |||
| Centella + Tap Mauro | | | Bank guarantees to cover the achievement of various milestones and payment of any fines during the initial execution period. PCG to cover the liquidity gap up to EUR 20 million | | |
38
|
|
| GUARANTEES FOR ENERGY AND MOBILITY PROJECTS | | |
38
|
| |||
| Dalaman | | | Bank guarantee to cover the debt service reserve account | | |
6
|
|
| AIRPORT PROJECT GUARANTEES | | | | | |
6
|
|
| TOTAL GUARANTEES FOR FULLY-CONSOLIDATED INFRASTRUCTURE PROJECTS | | |
124
|
|
|
BENEFICIARY COMPANY (PROJECT)
|
| |
GUARANTEE PURPOSE
|
| |
AMOUNT
|
|
| Serrano Park (Cintra) | | | Guarantee covering repayment of borrowings | | |
3
|
|
| Bucaramanga | | | Guarantee limited to construction works cost overruns | | |
3
|
|
| ETR Extension | | | Guarantee covering project cost overruns | | |
12
|
|
| 407 EXT PHASE II | | | Guarantee covering debt ratios | | |
6
|
|
| TOTAL GUARANTEES FOR EQUITY-ACCOUNTED INFRASTRUCTURE PROJECT COMPANIES | | |
25
|
|
|
(Million euro)
|
| |
2023
|
| |
2024
|
| |
2025
|
| |
2026
|
| |
2027
|
| |
2028 AND
BEYOND |
| |
TOTAL
|
|
| Toll roads | | |
89
|
| |
10
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
100
|
|
| Airports | | |
16
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
16
|
|
| Energy and mobility | | |
3
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
3
|
|
|
INVESTMENTS IN FULLY CONSOLIDATED INFRASTRUCTURE PROJECT COMPANIES
|
| |
108
|
| |
10
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
118
|
|
| Toll roads | | |
5
|
| |
-
|
| |
26
|
| |
-
|
| |
-
|
| |
-
|
| |
31
|
|
| Airports | | |
221
|
| |
474
|
| |
249
|
| |
69
|
| |
-
|
| |
-
|
| |
1,013
|
|
| Construction | | |
1
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
1
|
|
|
INVESTMENTS IN EQUITY-ACCOUNTED INFRASTRUCTURE PROJECT COMPANIES
|
| |
227
|
| |
474
|
| |
276
|
| |
69
|
| |
-
|
| |
-
|
| |
1,045
|
|
|
TOTAL INVESTMENTS IN INFRASTRUCTURE PROJECT COMPANIES
|
| |
335
|
| |
484
|
| |
276
|
| |
69
|
| |
-
|
| |
-
|
| |
1,163
|
|
| | | |
2022
|
| |
2021
|
| |
2020
|
|
| Number of shares at beginning of year | | |
2,054,531
|
| |
2,468,724
|
| |
3,125,747
|
|
| Plans granted | | |
702,675
|
| |
909,578
|
| |
622,004
|
|
| Plans settled | | |
(356,958)
|
| |
(292,413)
|
| |
(930,106)
|
|
| Resignations and other | | |
(526,552)
|
| |
(954,346)
|
| |
(307,068)
|
|
| Shares exercised | | |
(91,569)
|
| |
(77,012)
|
| |
(41,853)
|
|
| Number of shares at year-end | | |
1,782,127
|
| |
2,054,531
|
| |
2,468,724
|
|
|
(Thousand euro)
NAME / COMPANY NAME |
| |
TRANSACTIONS
|
| |
AMOUNT
|
| |
PROFIT OR LOSS
|
| |
BALANCE
|
|
| Rafael del Pino y Calvo-Sotelo | | |
Services rendered
|
| |
2
|
| |
-
|
| |
-
|
|
| María del Pino y Calvo-Sotelo | | |
Services rendered
|
| |
5
|
| |
1
|
| |
-
|
|
| Criu, S.L. | | |
Services rendered
|
| |
1
|
| |
-
|
| |
-
|
|
| Polan, S.A. | | |
Services received
|
| |
(12)
|
| |
-
|
| |
-
|
|
| Polan, S.A. | | |
Services provided
|
| |
17
|
| |
1
|
| |
-
|
|
|
(Thousand euro)
NAME / COMPANY NAME |
| |
TRANSACTIONS
|
| |
AMOUNT
|
| |
PROFIT OR LOSS
|
| |
BALANCE
|
|
| Rafael del Pino y Calvo-Sotelo | | |
Services rendered
|
| |
7
|
| |
-
|
| |
1
|
|
| María del Pino y Calvo-Sotelo | | |
Services rendered
|
| |
6
|
| |
1
|
| |
-
|
|
| Criu, S.L. | | |
Services rendered
|
| |
17
|
| |
1
|
| |
2
|
|
| Polan, S.A. | | |
Services provided
|
| |
159
|
| |
1
|
| |
59
|
|
|
(Thousand euro)
NAME / COMPANY NAME |
| |
TRANSACTIONS
|
| |
AMOUNT
|
| |
PROFIT OR LOSS
|
| |
BALANCE
|
|
| Rafael del Pino y Calvo-Sotelo | | |
Services rendered
|
| |
7
|
| |
-
|
| |
1
|
|
| María del Pino y Calvo-Sotelo | | |
Services rendered
|
| |
8
|
| |
1
|
| |
-
|
|
| Ana María Calvo-Sotelo y Bustelo | | |
Services rendered
|
| |
45
|
| |
2
|
| |
4
|
|
| Criu, S.L. | | |
Services rendered
|
| |
19
|
| |
1
|
| |
2
|
|
|
Cummins and group companies
|
| |
Services rendered
|
| |
(1,129)
|
| |
-
|
| |
-
|
|
|
Maxam holding and group companies
|
| |
Services rendered
|
| |
1
|
| |
-
|
| |
-
|
|
|
Marsh and group companies
|
| |
Receipt of insurance services
|
| |
(6,877)
|
| |
-
|
| |
13
|
|
| Polan, S.A. | | |
Services rendered
|
| |
152
|
| |
2
|
| |
42
|
|
|
Centro de Innovación de Infraestructuras Inteligentes Foundation
|
| |
Collaboration agreements
|
| |
(800)
|
| |
-
|
| |
-
|
|
| | | |
Services rendered
|
| |
18
|
| |
-
|
| |
-
|
|
| Haya Real Estate, S.A. | | |
Services rendered
|
| |
-
|
| |
-
|
| |
1
|
|
|
Holcim Ltd. and group companies
|
| |
Purchase of cement and related materials
|
| |
(1,724)
|
| |
-
|
| |
(53)
|
|
| | | |
Waste collection
|
| |
52
|
| |
1
|
| |
18
|
|
| Sidecu, S.A. | | |
Services rendered
|
| |
1
|
| |
-
|
| |
-
|
|
|
(Million euro)
|
| |
2022
|
| |
2021
|
| |
2020
|
|
| Fees for audit services | | |
4.94
|
| |
4.50
|
| |
4.32
|
|
|
Group Auditor
|
| |
4.79
|
| |
4.29
|
| |
2.84
|
|
|
Other Auditors
|
| |
0.15
|
| |
0.20
|
| |
1.48
|
|
| Fees for audit related services | | |
0.42
|
| |
0.40
|
| |
0.31
|
|
|
Group Auditor
|
| |
0.42
|
| |
0.40
|
| |
0.26
|
|
|
Other Auditors
|
| |
-
|
| |
-
|
| |
0.05
|
|
| Tax fees | | |
0.01
|
| |
0.04
|
| |
0
|
|
|
Group Auditor
|
| |
0.01
|
| |
0.04
|
| |
0
|
|
| Other non-audit services | | |
0.56
|
| |
0.08
|
| |
0.55
|
|
|
Group Auditor
|
| |
0.56
|
| |
0.08
|
| |
0.55
|
|
|
Assets (Millon euro)
|
| |
2022
|
| |
2021
|
|
| NON-CURRENT ASSETS | | |
10,398
|
| |
9,199
|
|
| Right of use | | |
3
|
| |
3
|
|
| Long-term investments in Group companies and associates | | |
10,373
|
| |
9,170
|
|
| Equity instruments | | |
10,373
|
| |
9,170
|
|
| Other non-current financial assets | | |
3
|
| |
9
|
|
| Deferred tax assets | | |
7
|
| |
6
|
|
| Long-term financial derivatives at fair value | | |
12
|
| |
11
|
|
| CURRENT ASSETS | | |
317
|
| |
121
|
|
| Financial assets available for sale | | |
—
|
| |
1
|
|
| Receivables | | |
86
|
| |
77
|
|
| Group companies and associates | | |
34
|
| |
21
|
|
| Current tax assets | | |
8
|
| |
13
|
|
| Public administrations | | |
44
|
| |
43
|
|
| Short-term investments in Group companies and associates | | |
218
|
| |
6
|
|
| Short-term prepayments | | |
2
|
| |
2
|
|
| Cash and cash equivalents | | |
11
|
| |
35
|
|
| TOTAL ASSETS | | |
10,715
|
| |
9,320
|
|
| Liabilities and equity (Million euro) | | |
2022
|
| |
2021
|
|
| EQUITY | | |
4,413
|
| |
4,035
|
|
| Share capital | | |
145
|
| |
147
|
|
| Share and merger premium | | |
—
|
| |
218
|
|
| Treasury shares | | |
(26)
|
| |
(124)
|
|
| Measurement adjustments | | |
1
|
| |
10
|
|
| Retained earnings and other reserves | | |
4,293
|
| |
3,784
|
|
| NON-CURRENT LIABILITIES | | |
3,508
|
| |
2,937
|
|
| Long-term provisions | | |
63
|
| |
60
|
|
| Long-term lease liabilities | | |
2
|
| |
3
|
|
| Debentures and borrowings | | |
802
|
| |
60
|
|
| Long-term financial derivatives at fair value | | |
5
|
| |
31
|
|
| Long-term payables to Group companies | | |
2,633
|
| |
2,779
|
|
| Deferred taxes | | |
3
|
| |
4
|
|
| CURRENT LIABILITIES | | |
2,794
|
| |
2,348
|
|
| Short-term lease liabilities | | |
1
|
| |
—
|
|
| Debentures and borrowings | | |
699
|
| |
491
|
|
| Short-term Financial derivatives at fair value | | |
—
|
| |
8
|
|
| Short-term payables to Group companies | | |
2,077
|
| |
1,831
|
|
| Trade and other payables | | |
16
|
| |
17
|
|
|
Trade payables
|
| |
1
|
| |
1
|
|
|
Other short-term payables
|
| |
15
|
| |
16
|
|
| Short-term provisions | | |
1
|
| |
1
|
|
| TOTAL LIABILITIES | | |
10,715
|
| |
9,320
|
|
|
(Million euro)
|
| |
2022
|
| |
2021
|
| |
2020
|
|
| Revenue | | |
32
|
| |
30
|
| |
32
|
|
| Services rendered | | |
32
|
| |
30
|
| |
32
|
|
| Personnel expenses | | |
(29)
|
| |
(21)
|
| |
(32)
|
|
| Wages, salaries and similar remuneration | | |
(28)
|
| |
(20)
|
| |
(31)
|
|
| Personnel welfare expenses | | |
(1)
|
| |
(1)
|
| |
(1)
|
|
| Fixed asset depreciation | | |
(1)
|
| |
—
|
| |
—
|
|
| Other operating expenses | | |
(18)
|
| |
(16)
|
| |
(33)
|
|
| Operating profit/(loss) | | |
(16)
|
| |
(7)
|
| |
(33)
|
|
| Financial income | | |
1,024
|
| |
11
|
| |
70
|
|
| From marketable securities and other financial instruments | | |
13
|
| |
10
|
| |
17
|
|
| Dividends received from subsidiaries | | |
1,011
|
| |
1
|
| |
53
|
|
| Financial expenses | | |
(66)
|
| |
(54)
|
| |
(64)
|
|
| On payables to Group companies and associates | | |
(45)
|
| |
(45)
|
| |
(51)
|
|
| On payables to third parties | | |
(21)
|
| |
(9)
|
| |
(13)
|
|
| Change in fair value of financial instruments | | |
60
|
| |
21
|
| |
10
|
|
| Foreign exchange differences | | |
(5)
|
| |
2
|
| |
2
|
|
| Impairment and profit/(loss) on disposals of financial instruments | | |
(64)
|
| |
(7)
|
| |
19
|
|
| Impairment and losses | | |
(60)
|
| |
(7)
|
| |
19
|
|
| Profit/(loss) on disposals | | |
(4)
|
| |
—
|
| |
—
|
|
| NET FINANCIAL INCOME/(EXPENSE) | | |
949
|
| |
(27)
|
| |
37
|
|
| PROFIT/(LOSS) BEFORE TAX | | |
933
|
| |
(34)
|
| |
4
|
|
| Corporate income tax | | |
30
|
| |
5
|
| |
22
|
|
| PROFIT/(LOSS) FOR THE YEAR FROM CONTINUING OPERATIONS | | |
963
|
| |
(29)
|
| |
26
|
|
| Net earnings per share (in euros) | | |
|
| | | | | | |
| | | |
Basic 1.33
|
| |
-0.04
|
| |
0.04
|
|
| | | |
Diluted 1.33
|
| |
-0.04
|
| |
0.04
|
|
|
(Million euro)
|
| |
2022
|
| |
2021
|
| |
2020
|
|
|
a)
Net profit/(loss)
|
| |
964
|
| |
(29)
|
| |
26
|
|
|
b)
Income and expense recognized directly in equity
|
| |
37
|
| |
7
|
| |
3
|
|
| Impact on hedge reserves | | |
58
|
| |
13
|
| |
4
|
|
| Tax effect | | |
(15)
|
| |
(3)
|
| |
(1)
|
|
| Impact on financial assets at fair value | | |
(8)
|
| |
(4)
|
| |
—
|
|
| Tax effect | | |
2
|
| |
1
|
| |
—
|
|
|
c)
Transfers to income statement
|
| |
(46)
|
| |
—
|
| |
—
|
|
| Impact on hedge reserves | | |
(62)
|
| |
—
|
| |
—
|
|
| Tax effect | | |
16
|
| |
—
|
| |
—
|
|
| a)+ b)+ c) TOTAL COMPREHENSIVE INCOME | | |
955
|
| |
(22)
|
| |
29
|
|
|
(Million euro)
|
| |
Share
capital |
| |
Share/Merger
premium |
| |
Treasury
shares |
| |
Measurement
adjustments |
| |
Retained
earnings and other reserves |
| |
TOTAL
|
|
| Balance at 01.01.2022 | | |
147
|
| |
218
|
| |
(124)
|
| |
10
|
| |
3,784
|
| |
4,035
|
|
| Consolidated profit/(loss) for the year 2022 | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
964
|
| |
964
|
|
| Income and expense recognized directly in equity | | |
—
|
| |
—
|
| |
—
|
| |
37
|
| |
—
|
| |
37
|
|
| Transfers to income statement | | |
—
|
| |
—
|
| |
—
|
| |
(46)
|
| |
—
|
| |
(46)
|
|
| Total income and expenses recognized for the year | | |
—
|
| |
—
|
| |
—
|
| |
(9)
|
| |
964
|
| |
955
|
|
| Scrip dividend agreement | | |
3
|
| |
—
|
| |
—
|
| |
—
|
| |
(135)
|
| |
(132)
|
|
| Treasury share transactions | | |
(5)
|
| |
(218)
|
| |
98
|
| |
—
|
| |
(321)
|
| |
(446)
|
|
| Shareholder remuneration | | |
(2)
|
| |
(218)
|
| |
98
|
| |
—
|
| |
(456)
|
| |
(578)
|
|
| Share-based remuneration schemes | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
| Other movements | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
1
|
| |
1
|
|
| Other transactions | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
1
|
| |
1
|
|
| Balance at 12.31.2022 | | |
145
|
| |
—
|
| |
(26)
|
| |
1
|
| |
4,293
|
| |
4,413
|
|
|
(Million euro)
|
| |
Share
capital |
| |
Share/Merger
premium |
| |
Treasury
shares |
| |
Measurement
adjustments |
| |
Retained
earnings and other reserves |
| |
TOTAL
|
|
| Balance at 01.01.2021 | | |
147
|
| |
647
|
| |
(13)
|
| |
3
|
| |
3,760
|
| |
4,544
|
|
| Consolidated profit/(loss) for the year 2021 | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
(29)
|
| |
(29)
|
|
| Income and expense recognized directly in equity | | |
—
|
| |
—
|
| |
—
|
| |
7
|
| |
—
|
| |
7
|
|
| Transfers to income statement | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
| Total income and expenses recognized for the year | | |
—
|
| |
—
|
| |
—
|
| |
7
|
| |
(29)
|
| |
(22)
|
|
| Scrip dividend agreement | | |
3
|
| |
3
|
| |
—
|
| |
—
|
| |
(34)
|
| |
(28)
|
|
| Treasury share transactions | | |
(3)
|
| |
(432)
|
| |
(111)
|
| |
—
|
| |
111
|
| |
(435)
|
|
| Shareholder remuneration | | |
—
|
| |
(429)
|
| |
(111)
|
| |
—
|
| |
77
|
| |
(463)
|
|
| Share-based remuneration schemes | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
(23)
|
| |
(23)
|
|
| Other movements | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
(1)
|
| |
(1)
|
|
| Other transactions | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
(24)
|
| |
(24)
|
|
| Balance at 12.31.2021 | | |
147
|
| |
218
|
| |
(124)
|
| |
10
|
| |
3,784
|
| |
4,035
|
|
|
(Million euro)
|
| |
Share
capital |
| |
Share/Merger
premium |
| |
Treasury
shares |
| |
Measurement
adjustments |
| |
Retained
earnings and other reserves |
| |
TOTAL
|
|
| Balance at 01.01.2020 | | |
147
|
| |
995
|
| |
(75)
|
| |
—
|
| |
3,812
|
| |
4,879
|
|
| Consolidated profit/(loss) for the year 2020 | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
26
|
| |
26
|
|
| Income and expense recognized directly in equity | | |
—
|
| |
—
|
| |
—
|
| |
3
|
| |
—
|
| |
3
|
|
| Transfers to income statement | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
| Total income and expenses recognized for the year | | |
—
|
| |
—
|
| |
—
|
| |
3
|
| |
26
|
| |
29
|
|
| Scrip dividend agreement | | |
3
|
| |
(92)
|
| |
—
|
| |
—
|
| |
(30)
|
| |
(119)
|
|
| Treasury share transactions | | |
(3)
|
| |
(256)
|
| |
62
|
| |
—
|
| |
(62)
|
| |
(259)
|
|
| Shareholder remuneration | | |
—
|
| |
(348)
|
| |
62
|
| |
—
|
| |
(92)
|
| |
(378)
|
|
| Merger reserve Ferrovial Inversiones | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
21
|
| |
21
|
|
| Company restructuring impact | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
21
|
| |
21
|
|
| Share-based remuneration schemes | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
(7)
|
| |
(7)
|
|
| Other movements | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
| Other transactions | | |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
(7)
|
| |
(7)
|
|
| Balance at 12.31.2020 | | |
147
|
| |
647
|
| |
(13)
|
| |
3
|
| |
3,760
|
| |
4,544
|
|
|
Million Euro
|
| |
2022
|
| |
2021
|
| |
2020
|
|
| Profit/(loss) before tax | | |
934
|
| |
(35)
|
| |
4
|
|
| Profit/(loss) adjustments: | | |
352
|
| |
29
|
| |
22
|
|
| Fixed asset depreciation | | |
1
|
| |
1
|
| |
3
|
|
| Net financial income/(expense) | | |
67
|
| |
27
|
| |
25
|
|
| Other adjustments (cash inflows/outflows with no profit/(loss) impact) | | |
284
|
| |
1
|
| |
(6)
|
|
| Changes in working capital | | |
(216)
|
| |
(13)
|
| |
(15)
|
|
| Other cash flows from operating activities: | | |
1
|
| |
(12)
|
| |
(15)
|
|
| Interest payments | | |
(48)
|
| |
(53)
|
| |
(40)
|
|
| Interest receipts | | |
1
|
| |
3
|
| |
3
|
|
| Income tax receipts/(payments) and tax consolidation | | |
48
|
| |
38
|
| |
22
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES | | |
1,071
|
| |
(31)
|
| |
(4)
|
|
| Payments on investments: | | |
(1,586)
|
| |
(908)
|
| |
(394)
|
|
| Group companies, associates and business units | | |
(1,586)
|
| |
(908)
|
| |
(394)
|
|
| Receipts from divestments: | | |
33
|
| |
20
|
| |
556
|
|
| Group companies, associates and business units | | |
33
|
| |
20
|
| |
556
|
|
| CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES | | |
(1,552)
|
| |
(888)
|
| |
162
|
|
| Receipts and (payments) from financial liability instruments: | | |
1,003
|
| |
762
|
| |
785
|
|
| Change in Group company balances | | |
68
|
| |
1,602
|
| |
618
|
|
| External debt Issuance | | |
935
|
| |
1
|
| |
167
|
|
| External debt Repayment | | |
—
|
| |
(841)
|
| |
—
|
|
| Payments of dividends and returns on other equity instruments | | |
(578)
|
| |
(463)
|
| |
(377)
|
|
| Scrip dividend | | |
(132)
|
| |
(31)
|
| |
(122)
|
|
| Treasury share purchases | | |
(446)
|
| |
(432)
|
| |
(255)
|
|
| Receipts and (payments) on hedging instruments | | |
38
|
| |
7
|
| |
27
|
|
| Lease payments | | |
(1)
|
| |
(1)
|
| |
(3)
|
|
| CASH FLOWS FROM FINANCING ACTIVITIES | | |
463
|
| |
305
|
| |
432
|
|
| Effect of exchange rate on cash and cash equivalents | | |
(5)
|
| |
(1)
|
| |
(17)
|
|
| Net increase/(decrease) in cash and cash equivalents | | |
(23)
|
| |
(615)
|
| |
573
|
|
| Cash and cash equivalents at beginning of year | | |
35
|
| |
650
|
| |
77
|
|
| Cash and cash equivalents at year-end | | |
12
|
| |
35
|
| |
650
|
|
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
CONTINUED ACTIVITIES
|
| | | | | | | | | | | | | | | |
|
CORPORATION
|
| | | | | | | | | | | | | | | |
|
NETHERLANDS (Registered Office: Amsterdam, Netherlands)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Netherlands B.V.
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
2
|
| |
1
|
|
|
Ferrovial Services Netherlands B.V.
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
14
|
| |
2
|
|
|
Ferrovial Ventures NL B.V.
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
9
|
| | | |
|
SPAIN (Registered Office: Madrid, Spain)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Inversiones, S.A. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
67
|
| | | |
|
Can-Am, S.A. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
-
|
| | | |
|
Ferrovial Emisiones, S.A. (a)
|
| | | | |
Ferrovial SE
|
| |
99.0%
|
| |
-
|
| |
1
|
|
|
Ferrovial Corporación, S.A. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
5
|
| |
1
|
|
|
Ferrofin, S.L. (a)
|
| | | | |
Ferrovial Construcción,
S.A. (a) |
| |
52.0%
|
| |
265
|
| | | |
|
Ferrofin, S.L. (a)
|
| | | | |
Ferrovial SE
|
| |
48.0%
|
| |
230
|
| | | |
|
Temauri, S.L. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
7
|
| | | |
|
Ferrovial 001, S.A. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
-
|
| | | |
|
Ferrovial 004, S.A. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
17
|
| | | |
|
Ferrovial 008, S.L. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
-
|
| | | |
|
Ferrovial 009, S.L. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
-
|
| | | |
|
Ferrovial Venture VI, S.A.U. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
-
|
| | | |
|
Ferrovial Ventures, S.A.U. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
15
|
| | | |
|
Acadia Servicios de Medioambiente, S.L. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
-
|
| | | |
|
Autovía de Aragón, Sociedad Concesionaria, S.A.
|
| |
P
|
| |
Ferrovial SE
|
| |
15.0%
|
| |
3
|
| |
2
|
|
|
Pilum, S.A.
|
| |
P
|
| |
Ferrovial SE
|
| |
94.1%
|
| |
1
|
| |
2
|
|
|
Ferrovial Aravia, S.A.
|
| |
P
|
| |
Ferrovial SE
|
| |
15.0%
|
| |
-
|
| |
2
|
|
|
Sitkol, S.A.U. (a)
|
| | | | |
Ferrovial 001, S.A. (a)
|
| |
100.0%
|
| |
-
|
| | | |
|
UNITED KINGDOM (Registered Office: Oxford, United Kingdom)
|
| | | | | | | | | | | | | | | |
|
Ferrocorp UK Ltd.
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
1
|
| |
1
|
|
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
UNITED KINGDOM (Registered Office: London, United Kingdom)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Ventures, Ltd.
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
7
|
| |
1
|
|
|
Ferrovial Services UK, Ltd.
|
| | | | |
Ferrovial Services International SE
|
| |
100.0%
|
| |
9
|
| | | |
|
IRELAND (Registered Office: Dublin, Ireland)
|
| | | | | | | | | | | | | | | |
|
Landmille, Ltd
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
107
|
| |
3
|
|
|
LUXEMBOURG (Registered Office: Luxembourg)
|
| | | | | | | | | | | | | | | |
|
Krypton RE, S.A.
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
8
|
| |
1
|
|
|
UNITED STATES (Registered Office: Austin, United States)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Holding US Corp
|
| | | | |
Cintra Infraestructures SE
|
| |
100.0%
|
| |
3,327
|
| | | |
|
Landmille US LLC
|
| | | | |
Ferrovial Holding US Corp
|
| |
100.0%
|
| |
-
|
| |
3
|
|
|
UNITED STATES (Registered Office: Wilmington, United States)
|
| | | | | | | | | | | | | | | |
|
Ferrovial IT US, LLC
|
| | | | |
Ferrovial Holding US Corp
|
| |
100.0%
|
| |
-
|
| | | |
|
CONSTRUCTION
|
| | | | | | | | | | | | | | | |
|
GERMANY (Registered Office: Cologne)
|
| | | | | | | | | | | | | | | |
|
Budimex Bau GmbH
|
| | | | |
Budimex S.A.
|
| |
100.0%
|
| |
-
|
| | | |
|
ARABIA (Registered Office: Riyadh)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Agroman Company
|
| | | | |
Ferrovial Construcción, S.A. (a)
|
| |
97.5%
|
| |
3
|
| |
7
|
|
|
AUSTRALIA (Registered Office: Sydney)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Construction (Australia) PTY LTD
|
| | | | |
Ferrovial Construction Holding. Ltd
|
| |
100.0%
|
| |
11
|
| |
1
|
|
|
BRASIL (Registered Office: Bela Vista, Sao Paulo)
|
| | | | | | | | | | | | | | | |
|
Constructora Ferrovial Ltd. (Brasil)
|
| | | | |
Ferrovial Construction International SE
|
| |
100.0%
|
| |
-
|
| | | |
|
CANADA (Registered Office: Alberta, Canada)
|
| | | | | | | | | | | | | | | |
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
Ferrovial Services Alberta Limited
|
| | | | |
Ferrovial Services Canada (Holdings) Limited
|
| |
100.0%
|
| |
-
|
| | | |
|
CANADA (Registered Office: Markham-Ontario)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Construction Canada Inc.
|
| | | | |
Ferrovial Construction International SE
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Ferrovial Services Ontario Limited
|
| | | | |
Ferrovial Services Canada (Holdings) Limited
|
| |
100.0%
|
| |
-
|
| | | |
|
Ontario Transit FCCI (Hold Co) Inc.
|
| | | | |
F&A Canada
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
CANADA (Registered Office: Toronto, Canada)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Services Canada (Holdings) Limited
|
| | | | |
Ferrovial Construction International SE
|
| |
100.0%
|
| |
6
|
| |
5
|
|
|
CHILE (Registered Office: Santiago, Chile)
|
| | | | | | | | | | | | | | | |
|
Constructora Ferrovial Ltda.
|
| | | | |
Ferrovial Empresa
Constructora Ltda. |
| |
97.2%
|
| |
-
|
| |
1
|
|
|
Ferrovial Construcción Chile S.A.
|
| | | | |
Ferrovial Empresa
Constructora Ltda. |
| |
100.0%
|
| |
33
|
| |
1
|
|
|
Ferrovial Empresa Constructora Ltda
|
| | | | |
Ferrovial Construction International SE
|
| |
100.0%
|
| |
24
|
| |
1
|
|
|
Siemsa Chile S.p.A
|
| | | | |
Siemsa Industria S.A. (a)
|
| |
100.0%
|
| |
-
|
| | | |
|
COLOMBIA (Registered Office: Santiago de Chile)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Construcción Colombia, S.A.S
|
| | | | |
Ferrovial Construction
International SE |
| |
100.0%
|
| |
-
|
| | | |
|
SLOVAKIA (Registered Office: Bratislava)
|
| | | | | | | | | | | | | | | |
|
D4R7 Construction S.R.O
|
| | | | |
Ferrovial Construction
Slovakia S.R.O. |
| |
65.0%
|
| |
3
|
| |
3
|
|
|
Ferrovial Construction Slovakia S.R.O
|
| | | | |
Ferrovial Construction
Holdings Ltd |
| |
99.0%
|
| |
10
|
| |
3
|
|
|
SPAIN (Registered Office: Barcelona)
|
| | | | | | | | | | | | | | | |
|
Conc. Prisiones Lledoners,S.A. (a
|
| |
P
|
| |
Ferrovial Construcción, S.A. (a)
|
| |
100.0%
|
| |
16
|
| |
1
|
|
|
SPAIN (Registered Office: Bilbao)
|
| | | | | | | | | | | | | | | |
|
Cadagua, S.A. (a)
|
| | | | |
Ferrovial Construcción, S.A. (a)
|
| |
100.0%
|
| |
87
|
| |
1
|
|
|
SPAIN (Registered Office: Madrid)
|
| | | | | | | | | | | | | | | |
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
Cocsa, S.A. (a
|
| | | | |
Ferrovial Construcción, S.A. (a)
|
| |
100.0%
|
| |
8
|
| |
1
|
|
|
Ditecpesa, S.A. (a
|
| | | | |
Ferrovial Construcción, S.A. (a)
|
| |
100.0%
|
| |
1
|
| |
1
|
|
|
Tecpresa Structural Solutions, S.A. (a)
|
| | | | |
Ferrovial Construcción, S.A. (a)
|
| |
99.1%
|
| |
2
|
| | | |
|
Ferroconservación, S.A. (a)
|
| | | | |
Ferrovial Construcción, S.A. (a)
|
| |
99.0%
|
| |
1
|
| |
1
|
|
|
Ferrovial Construcción, S.A. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
711
|
| |
1
|
|
|
Ferrovial Medio Ambiente y Energía, S.A. (a)
|
| | | | |
Ferrovial Construcción, S.A. (a)
|
| |
100.0%
|
| |
1
|
| | | |
|
Ferrovial Railway S.A. (a)
|
| | | | |
Ferrovial Construcción, S.A. (a)
|
| |
98.8%
|
| |
-
|
| | | |
|
Siemsa Control y Sistemas S.A.U. (a)
|
| | | | |
Siemsa Industria S.A. (a)
|
| |
99.0%
|
| |
1
|
| | | |
|
Siemsa Industria S.A. (a)
|
| | | | |
Ferrovial Construcción, S.A. (a)
|
| |
99.0%
|
| |
16
|
| | | |
|
Arena Recursos Naturales, S.A.U. (a)
|
| | | | |
Ferrovial Construcción, S.A. (a)
|
| |
100.0%
|
| |
-
|
| | | |
|
Urbaoeste, S.A. (a)
|
| | | | |
Ferrovial Construcción, S.A. (a)
|
| |
99.0%
|
| |
-
|
| | | |
|
Ferrovial 010, S.A.U. (a)
|
| | | | |
Ferrovial Construcción, S.A. (a)
|
| |
99.0%
|
| |
-
|
| | | |
|
Autovía de Aragón, Sociedad Concesionaria, S.A.
|
| | | | |
Ferrovial Construcción, S.A. (a)
|
| |
55.0%
|
| |
22
|
| | | |
|
Pilum, S. A.
|
| |
P
|
| |
Ferrovial Construcción, S.A. (a)
|
| |
3.8%
|
| |
-
|
| | | |
|
Ferrovial Aravia, S.A.
|
| |
P
|
| |
Ferrovial Construcción, S.A. (a)
|
| |
55.0%
|
| |
-
|
| | | |
|
SPAIN (Registered Office: Zaragoza)
|
| | | | | | | | | | | | | | | |
|
Depusa Aragón S.A. (a)
|
| |
P
|
| |
Ferrovial Construcción, S.A. (a)
|
| |
42.3%
|
| |
2
|
| |
1
|
|
|
Depusa Aragón S.A. (a)
|
| |
P
|
| |
Cadagua, S.A. (a)
|
| |
51.7%
|
| |
2
|
| |
1
|
|
|
UNITED STATES (Registered Office: Atlanta)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Construction East, LLC
|
| | | | |
Ferrovial Construction US Corp.
|
| |
100.0%
|
| |
440
|
| | | |
|
UNITED STATES (Registered Office: Austin)
|
| | | | | | | | | | | | | | | |
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
Cadagua US LLC
|
| | | | |
Ferrovial Construction US Holding Corp.
|
| |
100.0%
|
| |
14
|
| | | |
|
Cintra ITR LLC
|
| | | | |
Ferrovial Construction US Corp.
|
| |
100.0%
|
| |
20
|
| |
1
|
|
|
Ferrovial Agroman 56, LLC
|
| | | | |
Ferrovial Construction
Texas, LLC |
| |
44.0%
|
| |
35
|
| | | |
|
Ferrovial Agroman Indiana, LLC
|
| | | | |
Ferrovial Construction US Corp.
|
| |
100.0%
|
| |
-
|
| | | |
|
Ferrovial Construction Texas, LLC
|
| | | | |
Ferrovial Construction US Corp.
|
| |
100.0%
|
| |
158
|
| | | |
|
Ferrovial Construction US Corp.
|
| | | | |
Ferrovial Construction US Holding Corp.
|
| |
100.0%
|
| |
453
|
| | | |
|
Ferrovial Construction US Holding Corp.
|
| | | | |
Ferrovial Holding US Corp.
|
| |
100.0%
|
| |
1002
|
| | | |
|
Grand Parkway Infrastructure LLC
|
| | | | |
DBW Construction LLC
|
| |
30.0%
|
| |
-
|
| |
1
|
|
|
Grand Parkway Infrastructure LLC
|
| | | | |
Ferrovial Construction
Texas, LLC |
| |
40.0%
|
| |
-
|
| |
1
|
|
|
Ferrovial Energy Solutions, LLC
|
| | | | |
Ferrovial Construction US Holding Corp
|
| |
100.0%
|
| |
-
|
| | | |
|
Servicios (Delaware) Inc
|
| | | | | | | | | | | | | | | |
|
Servicios (Delaware) Inc.
|
| | | | |
Ferrovial Services
International SE |
| |
100.0%
|
| |
35
|
| | | |
|
Ferrovial Services U.S., Inc.
|
| | | | |
Servicios (Delaware) Inc.
|
| |
100.0%
|
| |
225
|
| | | |
|
Ferrovial Services Infrastructure, Inc
|
| | | | |
Ferrovial Services U.S., Inc.
|
| |
100.0%
|
| |
39
|
| |
1
|
|
|
Ferrovial Services Holding US Corp
|
| | | | |
Ferrovial Holding US Corp
|
| |
100.0%
|
| |
31
|
| | | |
|
Ferrovial Construction JFK T1 LLC
|
| | | | |
Ferrovial Construction US Corp.
|
| |
100.0%
|
| |
-
|
| | | |
|
UNITED STATES (Registered Office: Charlotte)
|
| | | | | | | | | | | | | | | |
|
Sugar Creek Construction LLC
|
| | | | |
Ferrovial Construction
East, LLC |
| |
70.0%
|
| |
64
|
| | | |
|
UNITED STATES (Registered Office: Dallas)
|
| | | | | | | | | | | | | | | |
|
Trinity Infrastructure LLC
|
| | | | |
DBW Construction LLC
|
| |
40.0%
|
| |
-
|
| | | |
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
Trinity Infrastructure LLC
|
| | | | |
Ferrovial Construction
Texas, LLC |
| |
60.0%
|
| |
-
|
| | | |
|
UNITED STATES (Registered Office: Fort Worth)
|
| | | | | | | | | | | | | | | |
|
North Tarrant Infrastructures
|
| | | | |
DBW Construction LLC
|
| |
25.0%
|
| |
-
|
| |
1
|
|
|
North Tarrant Infrastructures
|
| | | | |
Ferrovial Construction
Texas, LLC |
| |
75.0%
|
| |
-
|
| |
1
|
|
|
UNITED STATES (Registered Office: Georgia)
|
| | | | | | | | | | | | | | | |
|
North Perimeter Contractors LLC
|
| | | | |
Ferrovial Construction
East, LLC |
| |
100.0%
|
| |
369
|
| |
1
|
|
|
UNITED STATES (Registered Office: Katy)
|
| | | | | | | | | | | | | | | |
|
52 Block Builders
|
| | | | |
Webber Commercial
Construction, LLC |
| |
100.0%
|
| |
-
|
| |
1
|
|
|
UNITED STATES (Registered Office: Los Angeles)
|
| | | | | | | | | | | | | | | |
|
California Rail Builders
|
| | | | |
Ferrovial Construction
West, LLC |
| |
80.0%
|
| |
-
|
| |
1
|
|
|
Ferrovial Construction West, LLC
|
| | | | |
Ferrovial Construction US Corp.
|
| |
100.0%
|
| |
-
|
| | | |
|
Great Hall Builders LLC
|
| | | | |
Ferrovial Construction
West, LLC |
| |
70.0%
|
| |
-
|
| | | |
|
UNITED STATES (Registered Office: North Richland Hills)
|
| | | | | | | | | | | | | | | |
|
Bluebonnet Contractor, LLC
|
| | | | |
DBW Construction LLC
|
| |
40.0%.
|
| |
-
|
| | | |
|
Bluebonnet Contractor, LLC
|
| | | | |
Ferrovial Construction
Texas, LLC |
| |
60.0%
|
| |
-
|
| | | |
|
UNITED STATES (Registered Office: Suffolk)
|
| | | | | | | | | | | | | | | |
|
US 460 Mobility Partners LLC
|
| | | | |
Ferrovial Construction
East, LLC |
| |
70.0%
|
| |
-
|
| | | |
|
UNITED STATES (Registered Office: The Woodlands)
|
| | | | | | | | | | | | | | | |
|
DBW Construction LLC.
|
| | | | |
Webber, LLC
|
| |
100.0%
|
| |
40
|
| |
1
|
|
|
PLW Waterworks LLC
|
| | | | |
Cadagua US, LLC
|
| |
50.0%
|
| |
2
|
| |
1
|
|
|
PLW Waterworks LLC
|
| | | | |
Webber, LLC
|
| |
50.0%
|
| |
2
|
| |
1
|
|
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
Southern Crushed Concrete LLC
|
| | | | |
Webber Equipment &
Materials LLC-Sucursal en Spain |
| |
100.0%
|
| |
88
|
| |
1
|
|
|
W.W. Webber, LLC
|
| | | | |
Ferrovial Construction US Holding Corp.
|
| |
100.0%
|
| |
584
|
| |
1
|
|
|
Webber Barrier Services
|
| | | | |
Webber, LLC
|
| |
100.0%
|
| |
5
|
| |
1
|
|
|
Webber Commercial Construction LLC
|
| | | | |
Webber, LLC
|
| |
99.0%
|
| |
6
|
| | | |
|
Webber Equipment & Materials LLC
|
| | | | |
Webber, LLC
|
| |
100.0%
|
| |
227
|
| |
1
|
|
|
Webber Holdings, LLC
|
| | | | |
Ferrovial Construction US Holding Corp.
|
| |
100.0%
|
| |
-
|
| | | |
|
Webber Management Group LLC
|
| | | | |
Webber Equipment &
Materials LLC-Sucursal en Spain |
| |
100.0%
|
| |
41
|
| |
1
|
|
|
UNITED STATES (Registered Office: Virginia)
|
| | | | | | | | | | | | | | | |
|
FAM Construction LLC (I-66)
|
| | | | |
Ferrovial Construction US Corp.
|
| |
70.0%
|
| |
143
|
| |
1
|
|
|
FRANCE (Registered Office: Paris)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Construction France, S.A
|
| | | | |
Ferrovial Construction
International SE |
| |
100.0%
|
| |
-
|
| | | |
|
NETHERLANDS (Registered Office: Amsterdam)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Construction International SE
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
237
|
| |
1
|
|
|
INDIA (Registered Office: New Delhi)
|
| | | | | | | | | | | | | | | |
|
Cadagua Ferrovial India Pr Ltd
|
| | | | |
Cadagua, S.A. (a)
|
| |
95.0%
|
| |
-
|
| | | |
|
IRELAND (Registered Office: Dublin)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Construction Ireland Ltd
|
| | | | |
Ferrovial Construction
Holdings Ltd |
| |
100.0%
|
| |
7
|
| |
2
|
|
|
MÉXICO (Registered Office: Mexico DF)
|
| | | | | | | | | | | | | | | |
|
Cadagua Ferr. Industrial México
|
| | | | |
Cadagua, S.A. (a)
|
| |
75.1%
|
| |
-
|
| | | |
|
Cadagua Ferr. Industrial México
|
| | | | |
Ferrovial Medio Ambiente y
Energía, S.A. (a) |
| |
25.0%
|
| |
-
|
| | | |
|
Ferrovial Agroman México, S.A. de C.V.
|
| | | | |
Ferrovial Construction
International SE |
| |
100.0%
|
| |
-
|
| | | |
|
NEW ZEALAND (Registered Office: Wellington)
|
| | | | | | | | | | | | | | | |
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
Ferrovial Construction (New Zealand) Limited
|
| | | | |
Ferrovial Construcción
Australia PTY LTD |
| |
100.0%
|
| |
1
|
| | | |
|
PERÚ (Registered Office: Lima)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Construcción Perú, S.A.C.
|
| | | | |
Ferrovial Construction
International SE |
| |
100.0%
|
| |
-
|
| | | |
|
POLAND (Registered Office: Cracow)
|
| | | | | | | | | | | | | | | |
|
Mostostal Kraków S.A.
|
| | | | |
Budimex SA
|
| |
100.0%
|
| |
2
|
| |
1
|
|
|
Mostostal Kr
|
| | | | |
Mostostal Kraków SA
|
| |
100.0%
|
| |
-
|
| | | |
|
POLAND (Registered Office: Kamieńsk)
|
| | | | | | | | | | | | | | | |
|
FBSerwis Kamieńsk Sp. z o.o.
|
| | | | |
FBSerwis SA
|
| |
80.0%
|
| |
7
|
| |
1
|
|
|
POLAND (Registered Office: Kąty Wrocławskie)
|
| | | | | | | | | | | | | | | |
|
FBSerwis Wrocław Sp. z o.o.
|
| | | | |
FBSerwis SA
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
POLAND (Registered Office: Ścinawka Dolna)
|
| | | | | | | | | | | | | | | |
|
FBSerwis Dolny Sląsk Sp. z o.o.
|
| | | | |
FBSerwis SA
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
POLAND (Registered Office: Tarnów)
|
| | | | | | | | | | | | | | | |
|
FBSerwis Karpatia Sp. z o.o.
|
| | | | |
FBSerwis SA
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
POLAND (Registered Office: Varsovia)
|
| | | | | | | | | | | | | | | |
|
Autostrada, S.A.
|
| | | | |
Ferrovial Construcción, S.A. (a)
|
| |
1.3%
|
| |
-
|
| |
2
|
|
|
POLAND (Registered Office: Warsaw)
|
| | | | | | | | | | | | | | | |
|
Budimex, S.A.
|
| | | | |
Ferrovial Construction
International SE |
| |
50.1%
|
| |
83
|
| |
1
|
|
|
Bx Budownictwo Sp. z o.o.
|
| | | | |
Budimex SA
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Bx Kolejnictwo SA
|
| | | | |
Budimex SA
|
| |
100.0%
|
| |
18
|
| |
1
|
|
|
Bx Parking Wrocław Sp. z o.o.
|
| | | | |
Budimex SA
|
| |
51.0%
|
| |
1
|
| |
1
|
|
|
FBSerwis SA
|
| | | | |
Budimex SA
|
| |
100.0%
|
| |
19
|
| |
1
|
|
|
FBSerwis A Sp. z o.o.
|
| | | | |
FBSerwis SA
|
| |
100.0%
|
| |
-
|
| | | |
|
FBSerwis B Sp. z o.o.
|
| | | | |
FBSerwis SA
|
| |
100.0%
|
| |
-
|
| | | |
|
FBSerwis Odbiór Sp. z o.o.
|
| | | | |
FBSerwis SA
|
| |
100.0%
|
| |
-
|
| | | |
|
FBSerwis Paliwa Alternatywne Sp. z o.o.
|
| | | | |
FBSerwis SA
|
| |
100.0%
|
| |
-
|
| | | |
|
JZE Sp. z o.o.
|
| | | | |
FBSerwis SA
|
| |
100.0%
|
| |
1
|
| | | |
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
PUERTO RICO (Registered Office: San Juan )
|
| | | | | | | | | | | | | | | |
|
Ferrovial Construcción PR, LLC
|
| | | | |
Ferrovial Construction
International SE |
| |
100.0%
|
| |
11
|
| | | |
|
UNITED KINGDOM (Registered Office: London)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Construction (UK) Limited
|
| | | | |
Ferrovial Construction
Holdings Ltd |
| |
100.0%
|
| |
(3)
|
| |
1
|
|
|
Ferrovial Construction Holdings Limited
|
| | | | |
Ferrovial Construction
International SE |
| |
100.0%
|
| |
72
|
| |
1
|
|
|
FC Civil Solutions Limited
|
| | | | |
Ferrovial Construction
Holdings Ltd |
| |
100.0%
|
| |
-
|
| | | |
|
TOLL ROADS
|
| |
|
| | | | |
|
| |
|
| |
|
|
|
SPAIN (Registered Office: Madrid, Spain)
|
| | | | | | | | | | | | | | | |
|
Cintra Infraestructuras Spain, S.L. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
627
|
| |
1
|
|
|
Cintra Infraestructuras Ireland, S.L.U. (a)
|
| | | | |
Cintra Global SE
|
| |
100.0%
|
| |
3
|
| |
1
|
|
|
Cintra Inversora Autopistas de Cataluña, S.L. (a)
|
| |
P
|
| |
Cintra Infraestructuras
Spain, S.L. (a) |
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Inversora Autopistas de Cataluña, S.L. (a)
|
| |
P
|
| |
Cintra Inversora Autopistas
de Cataluña, S.L. (a)(a) |
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Cintra Inversiones, S.L.U. (a)
|
| | | | |
Cintra Infraestructuras
Spain, S.L. (a) |
| |
100.0%
|
| |
318
|
| | | |
|
Cintra Servicios de Infraestructuras, S.A. (a)
|
| | | | |
Cintra Infraestructuras
Spain, S.L. (a) |
| |
100.0%
|
| |
4
|
| |
1
|
|
|
Autopista Alcalá-O’Donnell, S.A. (a)
|
| | | | |
Cintra Infraestructuras
Spain, S.L. (a) |
| |
100.0%
|
| |
15
|
| | | |
|
Autovía de Aragón, Sociedad Concesionaria, S.A.
|
| |
P
|
| |
Cintra Infraestructuras
Spain, S.L. (a) |
| |
30.0%
|
| |
3
|
| |
2
|
|
|
Pilum, S.A.
|
| |
P
|
| |
Cintra Infraestructuras
Spain, S.L. (a) |
| |
2.1%
|
| |
-
|
| |
2
|
|
|
Ferrovial Aravia, S.A.
|
| |
P
|
| |
Cintra Infraestructuras
Spain, S.L. (a) |
| |
30.0%
|
| |
1
|
| |
2
|
|
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
SPAIN (Registered Office: Barcelona, Spain)
|
| | | | | | | | | | | | | | | |
|
Autopista Terrassa-Manresa, S.A. (a)
|
| |
P
|
| |
Inversora Autopistas de Cataluña, S.L. (a)
|
| |
76.3%
|
| |
420
|
| |
1
|
|
|
AUSTRALIA (Registered Office: Melbourne, Australia)
|
| | | | | | | | | | | | | | | |
|
Cintra OSARS (Western) Holdings Unit Trust
|
| | | | |
Cintra OSARS Western Ltd
|
| |
100.0%
|
| |
29
|
| | | |
|
Cintra OSARS Western Unit Trust
|
| | | | |
Cintra OSARS (Western)
Holdings Unit Trust |
| |
100.0%
|
| |
-
|
| | | |
|
AUSTRALIA (Registered Office: Sydney, Australia)
|
| | | | | | | | | | | | | | | |
|
Cintra Developments Australia PTY, Ltd
|
| | | | |
Cintra Infrastructures UK Ltd
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Cintra OSARS (Western) Holdings PTY Ltd
|
| | | | |
Cintra OSARS Western Ltd
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Cintra OSARS Western PTY Ltd
|
| | | | |
Cintra OSARS (Western)
Holdings PTY Ltd |
| |
100.0%
|
| |
-
|
| |
1
|
|
|
CANADA (Registered Office: Toronto, Canada)
|
| | | | | | | | | | | | | | | |
|
Cintra 407 East Development Group Inc
|
| | | | |
407 Toronto Highway B.V
|
| |
100.0%
|
| |
2
|
| | | |
|
Cintra OM&R 407 East Development Group Inc
|
| | | | |
407 Toronto Highway B.V
|
| |
100.0%
|
| |
-
|
| | | |
|
Cintra 4352238 Inc
|
| | | | |
407 Toronto Highway B.V
|
| |
100.0%
|
| |
-
|
| | | |
|
Blackbird Maintenance 407 Cintra GP Inc
|
| | | | |
407 Toronto Highway B.V
|
| |
100.0%
|
| |
1
|
| | | |
|
Blackbird Infrastructure 407 Cintra GP Inc
|
| | | | |
407 Toronto Highway B.V
|
| |
100.0%
|
| |
-
|
| | | |
|
COLOMBIA (Registered Office: Bogotá, Colombia)
|
| | | | | | | | | | | | | | | |
|
Cintra Infraestructuras Colombia, S.A.S. (a)
|
| | | | |
Cintra Global SE
|
| |
100.0%
|
| |
14
|
| |
1
|
|
|
C. Concesiones Colombia S.L.U.
|
| | | | |
Cintra Global SE
|
| |
100.0%
|
| |
-
|
| | | |
|
CHILE (Registered Office: Santiago de Chile, Chile)
|
| | | | | | | | | | | | | | | |
|
Cintra Infraestructuras Chile SpA
|
| | | | |
Cintra Global SE
|
| |
100.0%
|
| |
-
|
| | | |
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
UNITED STATES (Registered Office: Austin, United States)
|
| | | | | | | | | | | | | | | |
|
Cintra Holding US Corp
|
| | | | |
Ferrovial Holding US Corp
|
| |
96.8%
|
| |
1,285
|
| | | |
|
Cintra Texas Corp
|
| | | | |
Cintra Holding US Corp
|
| |
100.0%
|
| |
(22)
|
| | | |
|
Cintra US Services LLC
|
| | | | |
Cintra Texas Corp
|
| |
100.0%
|
| |
1
|
| | | |
|
Cintra ITR LLC
|
| | | | |
Cintra Holding US Corp
|
| |
49.0%
|
| |
-
|
| | | |
|
Cintra LBJ LLC
|
| | | | |
Cintra Holding US Corp
|
| |
100.0%
|
| |
303
|
| | | |
|
Cintra NTE LLC
|
| | | | |
Cintra Holding US Corp
|
| |
100.0%
|
| |
240
|
| | | |
|
Cintra NTE Mobility Partners Segments 3 LLC
|
| | | | |
Cintra Holding US Corp
|
| |
100.0%
|
| |
247
|
| | | |
|
Cintra Toll Services LLC
|
| | | | |
Cintra Holding US Corp
|
| |
100.0%
|
| |
-
|
| | | |
|
Cintra I-77 Mobility Partners LLC
|
| | | | |
Cintra Holding US Corp
|
| |
100.0%
|
| |
142
|
| | | |
|
Cintra 2 I-77 Mobility Partners LLC (2)
|
| | | | |
Cintra Holding US Corp
|
| |
100.0%
|
| |
66
|
| | | |
|
Cintra 2 I-66 Express Mobility Partners
|
| | | | |
Cintra Holding US Corp
|
| |
100.0%
|
| |
647
|
| | | |
|
I-66 Express Mobility Partners Holdings LLC
|
| |
P
|
| |
Cintra 2 I-66 Express
|
| |
50.0%
|
| |
647
|
| | | |
|
I-66 Express Mobility Partners LLC
|
| |
P
|
| |
I-66 Express Mobility
|
| |
50.0%
|
| |
1373
|
| |
1
|
|
|
Cintra 3I-66 Express Mobility Partners LLC
|
| | | | |
Cintra Holding US Corp
|
| |
100.0%
|
| |
196
|
| | | |
|
Cintra 3 I-77 Mobility Partners LLC
|
| | | | |
Cintra Holding US Corp
|
| |
100.0%
|
| |
104
|
| | | |
|
Cintra Digital Business Ventures LLC
|
| |
P
|
| |
Cintra Holding US Corp
|
| |
100.0%
|
| |
-
|
| | | |
|
UNITED STATES (Registered Office: Charlotte, United
|
| | | | | | | | | | | | | | | |
|
I-77 Mobility Partners Holding LLC
|
| |
P
|
| |
Cintra I-77 Mobility Partners LLC
|
| |
50.1%
|
| |
108
|
| | | |
|
I-77 Mobility Partners Holding LLC
|
| |
P
|
| |
Cintra 2-I77 Mobility
Partners Holding LLC |
| |
15.0%
|
| |
68
|
| | | |
|
I-77 Mobility Partners Holding LLC
|
| |
P
|
| |
Cintra 3-I77 Mobility
Partners Holding LLC |
| |
7.1%
|
| |
104
|
| | | |
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
I-77 Mobility Partners LLC
|
| |
P
|
| |
I-77 Mobility Partners
Holding LLC |
| |
100.0%
|
| |
218
|
| |
1
|
|
|
UNITED STATES (Registered Office: Dallas, United States)
|
| | | | | | | | | | | | | | | |
|
LBJ Infrastructure Group Holding LLC
|
| |
P
|
| |
Cintra LBJ LLC
|
| |
54.6%
|
| |
302
|
| | | |
|
LBJ Infrastructure Group LLC
|
| |
P
|
| |
LBJ Infrastructure Group
Holding LLC |
| |
100.0%
|
| |
521
|
| |
1
|
|
|
UNITED STATES (Registered Office: North Richland Hills, United States)
|
| | | | | | | | | | | | | | | |
|
NTE Mobility Partners Holding LLC
|
| |
P
|
| |
Cintra NTE LLC
|
| |
63.0%
|
| |
240
|
| | | |
|
NTE Mobility Partners LLC
|
| |
P
|
| |
NTE Mobility Partners
Holding LLC |
| |
100.0%
|
| |
322
|
| | | |
|
NTE Mobility Partners Segments 3 Holding LLC
|
| |
P
|
| |
Cintra NTE Mobility
Partners Segments 3 LLC |
| |
53.7%
|
| |
223
|
| | | |
|
NTE Mobility Partners Segments 3 LLC
|
| |
P
|
| |
NTE Mobility Partners
|
| |
100.0%
|
| |
406
|
| |
1
|
|
|
NETHERLANDS (Registered Office: Amsterdam, Netherlands)
|
| | | | | | | | | | | | | | | |
|
Cintra Infrastructures SE
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
3,033
|
| |
1
|
|
|
Cintra Global SE
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
3,242
|
| | | |
|
407 Toronto Highway B.V.
|
| | | | |
Cintra Global SE
|
| |
100.0%
|
| |
2,664
|
| | | |
|
Cintra INR Investments B.V.
|
| | | | |
Cintra Global SE
|
| |
100.0%
|
| |
369
|
| |
5
|
|
|
Cintra Latam Highways B.V.
|
| | | | |
Cintra Global SE
|
| |
100.0%
|
| |
-
|
| | | |
|
IRELAND (Registered Office: Dublin, Ireland)
|
| | | | | | | | | | | | | | | |
|
Financinfrastructures, Ltd
|
| | | | |
Cintra Global SE
|
| |
100.0%
|
| |
32
|
| |
1
|
|
|
Cinsac, Ltd
|
| | | | |
Cintra Infraestructuras
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
POLAND (Registered Office: Warsow, Poland)
|
| | | | | | | | | | | | | | | |
|
Autostrada Poludnie, S.A.
|
| | | | |
Cintra Infrastructures SE
|
| |
93.6%
|
| |
12
|
| |
2
|
|
|
PORTUGAL (Registered Office: Lisbon, Portugal)
|
| | | | | | | | | | | | | | | |
|
Vialivre, S.A.
|
| |
P
|
| |
Cintra Infrastructures SE
|
| |
84.0%
|
| |
-
|
| |
1
|
|
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
PORTUGAL (Registered Office: Ribeira Grande, Portugal)
|
| | | | | | | | | | | | | | | |
|
Euroscut Açores, S.A.
|
| |
P
|
| |
Cintra Infrastructures SE
|
| |
89.2%
|
| |
27
|
| |
1
|
|
|
UNITED KINGDOM (Registered Office: London, United
|
| | | | | | | | | | | | | | | |
|
Cintra Silvertown Ltd
|
| | | | |
Cintra Infrastructures UK Ltd
|
| |
100.0%
|
| |
1
|
| |
1
|
|
|
UNITED KINGDOM (Registered Office: Oxford, United
|
| | | | | | | | | | | | | | | |
|
Cintra Infrastructures UK Ltd
|
| | | | |
Cintra Global SE
|
| |
100.0%
|
| |
45
|
| |
1
|
|
|
Cintra Toowoomba Ltd
|
| | | | |
Cintra Infrastructures UK Ltd
|
| |
100.0%
|
| |
5
|
| |
1
|
|
|
Cintra UK I-77 Ltd
|
| | | | |
Ferrovial Holding US Corp
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Cintra Slovakia Ltd
|
| | | | |
Cintra Global SE
|
| |
100.0%
|
| |
1
|
| |
1
|
|
|
Cintra I-66 Express UK Ltd
|
| | | | |
Ferrovial Holding US Corp
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Cintra OSARS Western Ltd
|
| | | | |
Cintra Infrastructures UK
|
| |
100.0%
|
| |
29
|
| |
1
|
|
|
AIRPORTS
|
| |
|
| | | | |
|
| |
|
| |
|
|
|
SPAIN (Registered Office: Madrid, Spain)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Aeropuertos Spain, S.A. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| | | | | | |
|
UNITED STATES (Registered Office: Austin, United
|
| | | | | | | | | | | | | | | |
|
Ferrovial Airports Holding US Corp
|
| | | | |
Ferrovial Holding US Corp
|
| |
100.0%
|
| |
105
|
| | | |
|
Ferrovial Vertiports US LLC
|
| | | | |
Ferrovial Airports Holding
|
| |
100.0%
|
| |
8
|
| | | |
|
Ferrovial Vertiports Florida LLC
|
| |
P
|
| |
Ferrovial Vertiports US LLC
|
| |
100.0%
|
| |
-
|
| | | |
|
UNITED STATES (Registered Office: Denver, United
|
| | | | | | | | | | | | | | | |
|
Ferrovial Airports O&M Services LLC
|
| | | | |
Ferrovial Airports Holding US Corp
|
| |
100.0%
|
| |
-
|
| | | |
|
Ferrovial Airports US Terminal One LLC.
|
| | | | |
Ferrovial Airports Holding
|
| |
100.0%
|
| |
53
|
| | | |
|
UNITED STATES (Registered Office: New York, United States
|
| | | | | | | | | | | | | | | |
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
MARS NTO LLC.
|
| | | | |
Ferrovial Airports US
Terminal One LLC. |
| |
96.1%
|
| |
62
|
| | | |
|
NETHERLANDS (Registered Office: Amsterdam, Netherlands)
|
| | | | | | | | | | | | | | | |
|
Hubco Netherlands B.V.
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
807
|
| | | |
|
FERROVIAL AIRPORTS FMM BV
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
-
|
| | | |
|
Ferrovial Airports Turkey B.V.
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
132
|
| | | |
|
YDA HAVALIMANI YATIRIM VE (Dalaman)
|
| |
P
|
| |
Ferrovial Airports Turkey
|
| |
60.0%
|
| |
145
|
| | | |
|
UNITED KINGDOM (Registered Office: Oxford, United Kingdom)
|
| | | | | | | | | | | | | | | |
|
Faero UK Holding Limited
|
| | | | |
Hubco Netherlands B.V
|
| |
100.0%
|
| |
255
|
| |
1
|
|
|
Ferrovial Airports International, S.E
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
1,372
|
| |
1
|
|
|
Ferrovial Airports Denver UK Ltd.
|
| | | | |
Ferrovial Airports
International SE |
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Ferrovial Vertiports UK Ltd.
|
| |
P
|
| |
Ferrovial Airports
International SE |
| |
100.0%
|
| |
2
|
| |
2
|
|
|
ENERGY INFRASTRUCTURE AND MOBILITY
|
| |
|
| | | | |
|
| |
|
| |
|
|
|
SPAIN (Registered Office: Madrid, Spain)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Transco Spain , S.A.U. (a)
|
| |
P
|
| |
Ferrovial Transco
International B.V. |
| |
100.0%
|
| |
13
|
| | | |
|
Ferrovial Infraestructuras Energéticas, S.A.U. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
19
|
| | | |
|
Parque Solar Casilla, S.L.U. (a
|
| |
P
|
| |
Ferrovial Infraestructuras
|
| |
100.0%
|
| |
9
|
| | | |
|
Ferrovial Mobility, S.L. (a)
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
35
|
| | | |
|
Cea Infraestructuras Energéticas (a)
|
| |
P
|
| |
Ferrovial Infraestructuras
|
| |
100.0%
|
| |
-
|
| | | |
|
Jucar Infraestructuras Energéticas (a)
|
| |
P
|
| |
Ferrovial Infraestructuras
Energéticas, S.A.U. (a) |
| |
100.0%
|
| |
-
|
| | | |
|
Pisuerga Infraestructuras Energéticas, S.A.U. (a)
|
| |
P
|
| |
Ferrovial Infraestructuras
Energéticas, S.A.U. (a) |
| |
100.0%
|
| |
-
|
| | | |
|
Ferrovial Growth VI, S.L. (a
|
| | | | |
Ferrovial SE
|
| |
100.0%
|
| |
17
|
| | | |
|
CHILE (Registered Office: Santiago, Chile)
|
| | | | | | | | | | | | | | | |
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
Ferrovial Power Infrastructure Chile, SpA
|
| |
P
|
| |
Ferrovial Transco
International B.V |
| |
100.0%
|
| |
60
|
| |
1
|
|
|
Ferrovial Transco Chile II SpA
|
| |
P
|
| |
Ferrovial Power
|
| |
100.0%
|
| |
-
|
| | | |
|
Transchile Charrúa Transmisión, S.A
|
| |
P
|
| |
Ferrovial Power
|
| |
99.9%
|
| |
46
|
| |
1
|
|
|
Ferrovial Transco Chile III SPA
|
| |
P
|
| |
Ferrovial Transco
International, B.V. |
| |
100.0%
|
| |
-
|
| | | |
|
Ferrovial Transco Chile IV SpA
|
| |
P
|
| |
Ferrovial Power
Infraestructure Chile, SpA |
| |
100.0%
|
| |
-
|
| | | |
|
Centella Transmisión, S.A
|
| |
P
|
| |
Ferrovial Transco Chile III SPA
|
| |
49.9%
|
| |
-
|
| |
1
|
|
|
Centella Transmisión, S.A
|
| |
P
|
| |
Ferrovial Power
Infrastructure Chile, SpA |
| |
51.1%
|
| |
-
|
| |
1
|
|
|
UNITED STATES (Registered Office: Austin, United States)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Mobility U.S., LLC
|
| | | | |
Ferrovial Holding US Corp
|
| |
100.0%
|
| |
2
|
| | | |
|
Ferrovial Energy US, LLC
|
| | | | |
Ferrovial Holding US Corp
|
| |
100.0%
|
| |
-
|
| | | |
|
Ferrovial Energy US 1, LLC
|
| | | | |
Ferrovial Energy US, LLC
|
| |
100.0%
|
| |
-
|
| | | |
|
UNITED KINGDOM (Registered Office: London, United Kingdom)
|
| | | | | | | | | | |
-
|
| | | |
|
Thalia Waste Management Limited
|
| | | | |
Thalia Waste Treatment
|
| |
50.0%
|
| |
-
|
| |
1
|
|
|
Thalia MK ODC Limited
|
| | | | |
Thalia Waste
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Thalia AWRP ODC Limited
|
| | | | |
Thalia Waste
Management Limited |
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Thalia WB HoldCo Limited
|
| | | | |
Thalia Waste
Management Limited |
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Thalia WB ODC Limited
|
| | | | |
Thalia WB HoldCo Limited
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Thalia WB Services Limited
|
| | | | |
Thalia WB ODC Limited
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Thalia WB SPV Limited
|
| |
P
|
| |
Thalia WB Services
Limited |
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Thalia IOW SPV Limited
|
| | | | |
Thalia Waste
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Thalia MK HoldCo Limited
|
| | | | |
Thalia Waste
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Entity
|
| |
Type
|
| |
Parent
|
| |
% Ownership
|
| |
Net Cost
Ownership |
| |
Audit
|
|
|
Thalia MK SPV Limited
|
| | | | |
Thalia MK HoldCo Limited
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Thalia Ventures Limited
|
| | | | |
Thalia Holdco Ltd
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Thalia IOW ODC Ltd
|
| | | | |
Thalia Waste
Management Limited |
| |
100.0%
|
| |
-
|
| |
1
|
|
|
Thalia Holdco Ltd
|
| | | | |
Thalia Waste Treatment
|
| |
100.0%
|
| |
-
|
| |
1
|
|
|
CHILE (Registered Office: Antofagasta, Chile)
|
| | | | | | | | | | | | | | | |
|
Berliam S.p.A.
|
| | | | |
Ferrovial Servicios Chile, SpA
|
| |
65.1%
|
| |
27
|
| |
2
|
|
|
Berliam S.p.A
|
| | | | |
Inversiones Chile Ltda
|
| |
34.9%
|
| |
3
|
| |
2
|
|
|
CHILE (Registered Office: Los Andes, Chile)
|
| | | | | | | | | | | | | | | |
|
Steel Ingenieria, S.A.
|
| | | | |
Ferrovial Servicios Chile SPA
|
| |
99.9%
|
| |
31
|
| |
2
|
|
|
Ferrovial Servicios Chile SPA
|
| | | | |
Ferrovial Services
|
| |
100.0%
|
| |
12
|
| | | |
|
CHILE (Registered Office: Santiago, Chile)
|
| | | | | | | | | | | | | | | |
|
Ferrovial Servicios Ambientales
|
| | | | |
Berliam S.p.A.
|
| |
99.7%
|
| |
-
|
| |
2
|
|
|
Inversiones (Chile) Holdings Limitada
|
| | | | |
Ferrovial Servicios Chile SpA
|
| |
100.0%
|
| |
-
|
| |
2
|
|
|
Inversiones (Chile) Limitada
|
| | | | |
Inversiones (Chile) Holding
|
| |
100.0%
|
| |
-
|
| | | |
|
Ferrovial Servicios Salud, SpA
|
| | | | |
Ferrovial Servicios Chile
|
| |
100.0%
|
| |
-
|
| | | |
|
Entity
|
| |
Type
|
| |
Parent
|
| |
%
Owner. |
| |
V. Eq.
Method |
| |
Assets.
|
| |
Liab.
|
| |
Reven.
|
| |
Results
|
| |
Audit
|
|
| ENERGY INFRASTRUCTURES AND MOBILITY | | | | | | | | | | | | | | | | | | | | |||||||||
|
SPAIN
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Car Sharing Mobility Services, S.L. | | | | | |
Ferrovial Mobility,
S.L.U. |
| | 50% | | |
7
|
| |
27
|
| |
4
|
| |
8
|
| |
(5)
|
| | | |
| Cartera Ceres Consolidado | | | | | |
Ferrovial 004, S.A. (a)
|
| | 24.8% | | |
18
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| | | |
|
FRANCE
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Car Sharing & Mobility Services France, S.A.S | | | | | |
Car Sharing Mobility
Services, S.L. |
| | 50% | | |
1
|
| |
3
|
| |
4
|
| |
5
|
| |
(4)
|
| | | |
|
PORTUGAL
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Utopias Exigentes Unipessoal, Lda | | | | | |
Car Sharing Mobility
Services, S.L. |
| | 50% | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| | | |
|
ITALY
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Car Sharing Mobility Services Italy | | | | | |
Car Sharing Mobility
Services, S.L. |
| | 50% | | |
1
|
| |
2
|
| |
1
|
| |
1
|
| |
(4)
|
| | | |
|
UNITED KINGDOM
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Thalia Infrastructure Management (2) Ltd | | | | | |
Amey Ventures Asset
Holdings Ltd |
| | 50% | | |
2
|
| |
107
|
| |
151
|
| |
121
|
| |
156
|
| |
1
|
|
| AWRP Holding Co Limited | | | | | |
Amey Infrastructure
Management (2) Ltd |
| | 33.3% | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
1
|
|
|
AWRP SPV Limited
|
| | | | | AWRP Holding Co Limited | | | 33.3% | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
1
|
|
| CONSTRUCTION | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
CANADA
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Ontario Transit Group Inc. | | | | | |
Ontario Transit FCCI
(Hold Co) Inc. |
| | 50% | | |
(6)
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| | | |
|
SPAIN
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Via Olmedo Pedralba, S.A. | | | | | |
Ferrovial
Construccion, S.A. |
| | 25.2% | | |
1
|
| |
5
|
| |
1
|
| |
5
|
| |
-
|
| |
3
|
|
| Boremer, S.A. | | | | | | Cadagua, S.A. | | | 50% | | |
1
|
| |
2
|
| |
1
|
| |
-
|
| |
-
|
| |
2
|
|
|
UNITED STATES
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Pepper Lawson Horizon Intl. Group | | | | | |
Webber Commercial
Construction LLC |
| | 70% | | |
-
|
| |
2
|
| |
2
|
| |
-
|
| |
-
|
| | | |
|
OMÁN
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Entity
|
| |
Type
|
| |
Parent
|
| |
%
Owner. |
| |
V. Eq.
Method |
| |
Assets.
|
| |
Liab.
|
| |
Reven.
|
| |
Results
|
| |
Audit
|
|
| International Water Treatment LLC | | | | | | Cadagua, S.A. | | | 37.5% | | |
2
|
| |
-
|
| |
-
|
| |
-
|
| |
3
|
| |
4
|
|
|
POLAND
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| PPHU Promos Sp. z o.o. | | | | | | Budimex SA | | | 26.3% | | |
1
|
| |
3
|
| |
2
|
| |
3
|
| |
-
|
| | | |
| AIRPORTS | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
UNITED KINGDOM
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
FGP Topco Limited
|
| |
p
|
| |
Hubco Netherlands
B.V. |
| | 25% | | |
-
|
| |
22,424
|
| |
25,768
|
| |
3,417
|
| |
302
|
| |
4
|
|
| AGS Airports Holdings Limited | | |
p
|
| |
Faero UK Holding
Limited |
| | 50% | | |
-
|
| |
1,453
|
| |
1,468
|
| |
195
|
| |
(54)
|
| |
2
|
|
|
QATAR
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| FMM Company LLC | | |
p
|
| |
Ferrovial Servicios
S.A.U. |
| | 49% | | |
19
|
| |
67
|
| |
28
|
| |
88
|
| |
12
|
| | | |
|
UNITED STATES
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| JFK NTO SPONSOR AGGREGATOR LLC. | | |
p
|
| | MARS NTO LLC | | | 49% | | |
175
|
| |
4,774
|
| |
4,417
|
| |
2
|
| |
2
|
| |
1
|
|
| TOLL ROADS | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
AUSTRALIA
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Nexus Infrastructure Holdings Unit Trust | | |
P
|
| |
Cintra Toowoomba
Ltd |
| | 40% | | |
3
|
| |
1
|
| |
-
|
| |
-
|
| |
-
|
| | | |
| Nexus Infrastructure Unit Trust | | |
P
|
| |
Nexus Infrastructure
Holdings Unit Trust |
| | 40% | | |
11
|
| |
44
|
| |
18
|
| |
34
|
| |
6
|
| | | |
| Nexus Infrastructure Holdings PTY Ltd | | |
P
|
| |
Cintra Toowoomba
Ltd |
| | 40% | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| | | |
| Nexus Infrastructure PTY Ltd | | |
P
|
| |
Nexus Infrastructure
Holdings PTY Ltd |
| | 40% | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| | | |
| Netflow Osars (Western) GP | | |
P
|
| |
Cintra Osars
(Western) Unit Trust |
| | 50% | | |
50
|
| |
191
|
| |
91
|
| |
35
|
| |
4
|
| | | |
|
SPAIN
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Serranopark, S.A. | | |
P
|
| |
Cintra
Infraestructuras Spain, S.L. |
| | 50% | | |
-
|
| |
74
|
| |
53
|
| |
7
|
| |
1
|
| |
2
|
|
| Sociedad Concesionaria Autovía de la Plata, S.A. | | |
P
|
| |
Cintra
Infrastructures SE |
| | 25% | | |
17
|
| |
232
|
| |
166
|
| |
25
|
| |
12
|
| |
2
|
|
|
Entity
|
| |
Type
|
| |
Parent
|
| |
%
Owner. |
| |
V. Eq.
Method |
| |
Assets.
|
| |
Liab.
|
| |
Reven.
|
| |
Results
|
| |
Audit
|
|
| Bip & Drive, S.A. | | |
P
|
| |
Cintra
Infraestructuras Spain, S.L. |
| | 20% | | |
3
|
| |
24
|
| |
6
|
| |
16
|
| |
4
|
| | | |
| Empresa Mant. y Explotación M30, S.A. | | | | | |
Ferrovial Servicios,
S.A. |
| | 50% | | |
(34)
|
| |
221
|
| |
221
|
| |
35
|
| |
15
|
| |
5
|
|
| Madrid Calle 30, S.A. | | |
P
|
| |
Empresa Mant. y
Explotación M30, S.A. |
| | 10% | | |
51
|
| |
643
|
| |
136
|
| |
133
|
| |
55
|
| |
8
|
|
|
CANADA
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
407 International Inc
|
| |
P
|
| |
4352238 Cintra
Canada Inc |
| | 43.2% | | |
1,063
|
| |
3,756
|
| |
7,483
|
| |
969
|
| |
318
|
| |
2
|
|
| 407 East Development Group General Partnership | | |
P
|
| |
Cintra 407 East
Development Group Inc |
| | 50% | | |
15
|
| |
157
|
| |
112
|
| |
9
|
| |
3
|
| | | |
| OM&R 407 East Development Group General Partnership | | |
P
|
| |
Cintra OM&R 407
East Development Group Inc |
| | 50% | | |
1
|
| |
6
|
| |
4
|
| |
6
|
| |
1
|
| | | |
| Blackbird Maintenance 407 GP | | |
P
|
| |
Blackbird
Maintenance 407 Cintra GP Inc |
| | 50% | | |
1
|
| |
6
|
| |
5
|
| |
4
|
| |
-
|
| |
3
|
|
| Blackbird Infrastructures 407 GP | | |
P
|
| |
Blackbird
Infrastructures 407 Cintra GP Inc |
| | 50% | | |
13
|
| |
97
|
| |
70
|
| |
8
|
| |
1
|
| |
3
|
|
|
COLOMBIA
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Concesionaria Ruta del Cacao S.A.S. | | |
P
|
| |
Cintra
Infraestructuras Colombia S.A.S. |
| | 30% | | |
8
|
| |
589
|
| |
561
|
| |
120
|
| |
(6)
|
| |
2
|
|
|
SLOVAKIA
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Zero Bypass Limited, Organizacna Zloska | | |
P
|
| | Zero Bypass Ltd | | | 35% | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| | | |
|
INDIA
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| IRB Infrastructure Developers Limited | | | | | |
Cintra INR
Investments B.V. |
| | 24.9% | | |
377
|
| |
4,929
|
| |
3,452
|
| |
619
|
| |
75
|
| |
5
|
|
|
IRELAND
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Eurolink Motorway Operation (N4- N6) Ltd | | |
P
|
| |
Cintra
Infraestructuras Ireland, S.L.U. |
| | 20% | | |
9
|
| |
238
|
| |
128
|
| |
27
|
| |
5
|
| |
2
|
|
|
Entity
|
| |
Type
|
| |
Parent
|
| |
%
Owner. |
| |
V. Eq.
Method |
| |
Assets.
|
| |
Liab.
|
| |
Reven.
|
| |
Results
|
| |
Audit
|
|
| Eurolink Motorway Operations (M3) Ltd | | |
P
|
| | Cinsac Ltd | | | 20% | | |
9
|
| |
124
|
| |
80
|
| |
20
|
| |
5
|
| |
2
|
|
|
UNITED KINGDOM
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Scot Roads Partnership Holdings Ltd | | |
P
|
| |
Cintra
Infrastructures UK |
| | 20% | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| | | |
| Scot Roads Partnership Finance Ltd | | |
P
|
| |
Scot Roads
Partnership Holdings Ltd |
| | 20% | | |
-
|
| |
407
|
| |
407
|
| |
-
|
| |
-
|
| | | |
| Scot Roads Partnership Project Ltd | | |
P
|
| |
Scot Roads
Partnership Holdings Ltd |
| | 20% | | |
-
|
| |
428
|
| |
428
|
| |
41
|
| |
-
|
| | | |
| Zero Bypass Holdings Ltd | | |
P
|
| | Cintra Slovakia Ltd | | | 35% | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| | | |
| Zero Bypass Ltd | | |
P
|
| |
Zero Bypass
Holdings Ltd |
| | 35% | | |
20
|
| |
1,029
|
| |
972
|
| |
51
|
| |
-
|
| | | |
| RiverLinx Holdings Ltd | | |
P
|
| |
Cintra Silvertown Ltd
|
| | 22.5% | | |
-
|
| |
-
|
| |
-
|
| |
-
|
| |
-
|
| | | |
| RiverLinx Ltd | | |
P
|
| | RiverLinx Holdings | | | 22.5% | | |
55
|
| |
1,233
|
| |
988
|
| |
287
|
| |
1
|
| | | |
| Total value by equity method continued operations | | |
|
| | | | | | | |
1,891
|
| |
|
| |
|
| |
|
| |
|
| |
|
|
This ‘20FR12B’ Filing | Date | Other Filings | ||
---|---|---|---|---|
9/13/30 | None on these Dates | |||
1/1/25 | ||||
12/16/24 | ||||
6/18/24 | ||||
5/1/24 | ||||
Filed on: | 1/5/24 | |||
1/3/24 | ||||
1/1/24 | ||||
12/31/23 | ||||
12/29/23 | ||||
12/28/23 | ||||
12/23/23 | ||||
12/20/23 | ||||
12/19/23 | ||||
12/13/23 | ||||
12/1/23 | ||||
11/30/23 | ||||
11/28/23 | ||||
11/22/23 | ||||
11/21/23 | ||||
11/15/23 | ||||
10/31/23 | ||||
10/26/23 | ||||
10/23/23 | ||||
10/17/23 | ||||
10/16/23 | ||||
10/10/23 | ||||
9/30/23 | ||||
9/27/23 | ||||
9/15/23 | ||||
9/12/23 | ||||
9/8/23 | ||||
9/7/23 | ||||
8/29/23 | ||||
7/26/23 | ||||
7/25/23 | ||||
7/23/23 | ||||
7/18/23 | ||||
7/17/23 | ||||
7/11/23 | ||||
7/6/23 | ||||
6/30/23 | ||||
6/22/23 | ||||
6/16/23 | ||||
6/14/23 | ||||
6/13/23 | ||||
6/5/23 | ||||
6/2/23 | ||||
5/17/23 | ||||
5/14/23 | ||||
5/11/23 | ||||
4/17/23 | ||||
4/13/23 | ||||
3/31/23 | ||||
3/30/23 | ||||
3/28/23 | ||||
3/8/23 | ||||
2/28/23 | ||||
2/14/23 | ||||
2/1/23 | ||||
1/1/23 | ||||
12/31/22 | ||||
12/30/22 | ||||
12/15/22 | ||||
12/14/22 | ||||
12/9/22 | ||||
12/1/22 | ||||
11/18/22 | ||||
10/11/22 | ||||
10/4/22 | ||||
9/30/22 | ||||
7/21/22 | ||||
7/19/22 | ||||
7/6/22 | ||||
7/1/22 | ||||
6/30/22 | ||||
6/10/22 | ||||
5/26/22 | ||||
5/10/22 | ||||
4/7/22 | ||||
2/24/22 | ||||
2/23/22 | ||||
2/22/22 | ||||
2/17/22 | ||||
2/10/22 | ||||
1/31/22 | ||||
1/1/22 | ||||
12/31/21 | ||||
12/29/21 | ||||
12/17/21 | ||||
12/16/21 | ||||
12/8/21 | ||||
12/1/21 | ||||
11/19/21 | ||||
11/4/21 | ||||
10/1/21 | ||||
9/3/21 | ||||
7/26/21 | ||||
7/3/21 | ||||
6/18/21 | ||||
6/15/21 | ||||
5/31/21 | ||||
4/9/21 | ||||
2/22/21 | ||||
2/11/21 | ||||
1/1/21 | ||||
12/31/20 | ||||
12/29/20 | ||||
12/10/20 | ||||
11/20/20 | ||||
10/19/20 | ||||
10/12/20 | ||||
6/30/20 | ||||
6/20/20 | ||||
6/1/20 | ||||
4/17/20 | ||||
1/1/20 | ||||
12/19/19 | ||||
6/30/19 | ||||
3/18/19 | ||||
10/26/17 | ||||
10/25/17 | ||||
4/1/17 | ||||
7/14/15 | ||||
10/15/14 | ||||
4/5/12 | ||||
11/18/10 | ||||
10/5/10 | ||||
9/15/04 | ||||
10/5/99 | ||||
2/3/98 | ||||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/16/24 Ferrovial SE 20FR12B/A 4/15/24 3:8.8M Toppan Merrill/FA |