Ferrovial recorded a net profit of 258 million euros in the first half of 2026, which implies a drop of 52% compared to the same period of the previous year, mainly because in the first six months of 2025 several capital gains derived from the divestment of certain assets were recorded.
According to its latest income statement, the revenue figure between January and June stood at 4,701 million euros, 5% above that of a year ago and 11.3% more in comparable terms. The adjusted gross operating profit (Ebitda) reached 746 million euros, which represents a year-on-year increase of 14%, rising to 21.6% when measured in comparable terms.
Breakdown by divisions and operational evolution
The Construction branch was again the main revenue driver, with 3,700 million euros, an increase of 7.1% compared to the previous year (+9.7% in comparable terms). Next was the Highways area, which contributed 740 million, 9.4% more (+15.8%); the Energy business, with 202 million euros, advanced 42.5% (+28.6%); while Airports added 32 million, 12.5% less (-11.3%).
The Ebit margin (profitability indicator that excludes debt and taxes, but discounts the depreciation of assets) of the Construction segment stood at 3.5%, in line with the target set by the company. The project portfolio of this division marked a new historical record by reaching 18,046 million euros, with North America concentrating 47.9%, Poland 22.9%, and Spain 14% of the total.
Financial position and growth prospects
At the end of the semester, available liquidity amounted to 4,747 million euros and the consolidated net cash position stood at 1,307 million euros, in both cases excluding infrastructure projects.
"Ferrovial has completed an excellent first half of the year 2026, driven by the strong performance of our assets in North America. Looking ahead, we see significant opportunities in complex greenfield projects (from scratch) and in the growing momentum of public-private collaboration models in the United States, trusting in our ability to continue generating long-term value," said Ferrovial's CEO, Ignacio Madridejos.
The company also emphasizes that its proposal for a highway in the Czech Republic (D35) was evaluated as the most cost-efficient and recalls that it has already submitted bids for the U.S. highways I-24 (Tennessee) and I-285 (Georgia).