Corporate Reorganization - The Group underwent a corporate reorganization on June 16, 2023, re-domiciling from Spain to the Netherlands through a merger, resulting in the formation of Ferrovial SE[20]. - Ordinary shares began trading on Euronext Amsterdam and Spanish Stock Exchanges on June 16, 2023, and on Nasdaq under the symbol "FER" on May 9, 2024[20]. Financial Reporting - The financial information includes audited consolidated financial statements for the years ending December 31, 2024, 2023, and 2022, prepared in accordance with IFRS-IASB[23]. - The Group's results are reported in accordance with IFRS-IASB, with additional non-IFRS measures used to assess business performance[26]. - The merger involved a "pooling of interest" accounting approach, reflecting the reorganization's substance and providing useful information about the Group's performance[24]. - The Annual Report includes statistical and market data obtained from reliable sources, although the accuracy of third-party data has not been verified[27]. - Transactions in foreign currencies are translated into euros at applicable exchange rates, with monetary assets and liabilities translated at the reporting date[28]. - Amounts in the Annual Report are rounded to the nearest million euros, which may lead to discrepancies in totals due to rounding[29]. - The report contains forward-looking statements that involve risks and uncertainties, and actual results may differ materially from those projected[33]. - The Group's disclosures may change due to revisions in standards, availability of information, or changes in business or government policies[40]. Risks and Challenges - The company faces numerous risks including geographical operational risks, construction issues, and energy price volatility[43]. - Competitive pressures in the industry affect pricing and project funding availability, impacting overall performance[43]. - Economic and political conditions, including inflation and exchange rate fluctuations, pose significant risks to the business[43]. - The company must secure adequate financing in the future to support its operations[43]. - Legal and regulatory risks are heightened due to the company's operations in highly regulated environments[44]. - The company is dependent on a small number of projects, increasing concentration risk[43]. - Cybersecurity threats and digitalization present ongoing challenges for the company[43]. - The company must navigate risks associated with sustainability and ESG expectations[43]. - The international nature of the business requires compliance with various anti-corruption and economic sanctions laws[44]. - Compliance with listing requirements on Nasdaq, Euronext Amsterdam, and Spanish Stock Exchanges is critical for the company[43].
Ferrovial SE(FER) - 2024 Q4 - Annual Report