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Ferrovial, S.A.
Type Public (BMADFER)
Founded 1952
Founder(s) Rafael del Pino y Moreno
Headquarters Madrid, Spain
Area served Spain, Portugal, United Kingdom, Ireland, Italy, Poland, Switzerland, Greece, USA, Canada, Chile
Key people Rafael del Pino Calvo-Sotelo (Chairman), Iñigo Meirás Amusco (CEO)
Industry Design, construction, financing, operation and maintenance of transport, urban and services infrastructure
Revenue 14,126 million (2008)
Operating income 1,550 million (2008)
Net income (836) million (2008)
Employees 107,376 (end of FY2008)
Subsidiaries BAA

Ferrovial, S.A. (previously Grupo Ferrovial, English: Ferrovial Group, BMADFER) is a multinational Spanish company involved in the design, build, financing, operation (DBFO) and maintenance of transport, urban and services infrastructure. It is a publicly-traded company and is part of the IBEX 35 market value-weighted stock market index.



  • In June 1995, Ferrovial acquired 98.27% of Agromán,[1] another leading Spanish contractor.
  • In February 1998, Ferrovial set up Cintra. Presided over by Rafael del Pino y Calvo-Sotelo, Cintra originally comprised 3 business lines: Car Parks, Toll Roads and Airports (the latter would eventually be separated from the other two business lines).[2]
  • In April 2000, Ferrovial bought 58.5% of the Polish construction company Budimex Dromex S.A., which led to Budimex strengthening its position in the Polish market.[3] Budimex Dromex is now the biggest contractor (roads, buildings and pipe systems) in Poland. Ferrovial has now implemented a programme allowing Polish workers to work in Spain for at least a year to learn European standards.
  • In December 2000, Ferrovial acquired Bristol Airport in Southwest England.
  • In January 2002, Joaquín Ayuso was appointed CEO of the Ferrovial group. Santiago Bergareche remained on the Board and was appointed Vice Chairman.
  • In June 2002, Ferrovial acquired the concession for Sydney airport, the largest airport in Australia.[4]
  • In August 2005, Ferrovial acquired 100% of Texan group Webber, specializing in civil engineering infrastructure, recycling of aggregates and extraction and supply of sand in Texas.[7]
  • In August 2005, Ferrovial acquired Swissport International from Candover Partners Ltd. for 336 million euros.[8] Swissport provides ground services for over 70 million passengers and 3.2 Tg of cargo a year on behalf of some 650 client companies.
  • In November 2006, BAA sold its stake in Bristol airport to Maquarie.[10]
  • In March 2007, Ferrovial finalised the sale of its stake in Sydney Airport. MAp exercised its call option on Ferrovial Airports' 20.9% stake in Sydney Airport for the agreed price of A$1.009 billoin (around 607 million euros).[11]
  • In May 2007, Ferrovial announced changes in its corporate structure. Iñigo Meirás, former Head of the Services Division, was appointed CEO of the new Airports Division. Santiago Olivares, who was head of the international area of the Services division and CEO of the handling subsidiary, Swissport, was appointed CEO of Ferrovial Servicios. Enrique Díaz Rato, then CEO of Cintra, was appointed to head the Toll Roads & Car Parks Division. [12]
  • In November 2007, BAA finalised the sale of its stakes in 6 Australian airports to Hastings Fund Management Limited for approx. 495 millions euros. [13]
  • In March 2008, BAA announced the sale of World Duty Free Europe (WDF) to Autogrill for 546.6 million pounds. [14] This deal was finalised on 21 May 2008. Autogrill paid an additional 15.75 million pounds in accrued interest payments [15]
  • In March 2008, BAA announced the sale of 33 properties of Airport Property Partnership (APP) to Arora Family Trust, a private group, for 265 million pounds. [16]
  • In September 2008, Ferrovial Airports Division sold Belfast City Airport Limited to ABN Amro Global Infrastructure Fund / Faros Infrastructure Partners LLC for 132.5 million pounds. [17]
  • In September 2008, BAA announced it had put Gatwick Airport up for sale. [18]
  • Ferrovial's majority-owned subsidiary Cintra was reacquired in full in December 2009.[19] The deal was structured as a reverse takeover (despite both companies being publicly-traded),[20] resulting in Ferrovial taking Cintra's stock market listing and ISIN code.

Ferrovial Group Companies (whole or majority owned)


Amey (UK-based services company)

BAA (UK-based airport operator)

(ownership and operation)

Budimex (Polish construction company)

  • Budimex

Cadagua (water treatment specialist)

Cespa (urban & industrial waste specialist)

  • Cespa


Toll road management

Car park management

  • Cintra Car Parks

Ferrovial Agromán (construction company)

  • Ferrovial Agromán

MCI (Infrastructure maintenance)

  • MCI

Swissport International (Ground Handling, Services)

Tube Lines (Maintenance & Upkeep of London Underground)

  • Tube Lines


  • Ferrovial owns 66.88%[21] of Cintra, a leading international toll road and car park operator.
  • Ferrovial owns a 55.87% stake in airport operator BAA Ltd[22]
  • Ferrovial owns 100% of Amey, the UK Services company; 100% of Swissport International, the Air handling company; 100% of Cespa, the Spanish environmental services, waste treatment and management company; 100% W.W.Webber, the Texan construction company
  • Ferrovial owns 59.06% of Budimex, the Polish constructor.

Major projects

  • Ferrovial is one of the sponsors for the much talked about M3 Motorway being built in Ireland, through the Hill of Tara archaeological complex.[25] The Irish Justice ruled in 2007 in favor of the project, which is supported by the Green Party and local communities, as it will give a substantial boost to trade and communications.
  • Ferrovial, and its Polish subsidiary Budimex, were placed on GES's watchlist of "companies to engage with or exclude" related to a construction contract on behalf of the Polish government in 2007.[26] The contract was subsequently cancelled by the national government and the matter closed.


Around 60% of the company is still owned by the Del Pino family.[27]


External links


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