Core Insights - Ferrovial reported solid growth in the first half of 2025, with strong performance across all business divisions, particularly in U.S. highways and Construction [1][2] - The company achieved an adjusted EBITDA of €655 million, a 9.2% increase year-over-year, and revenue of €4.5 billion, reflecting a 5% growth [3][8] - Net profit rose to €540 million from €414 million a year earlier, driven by capital gains from asset rotation [3] Financial Performance - Adjusted EBITDA for H1 2025 was €655 million, up 9.2% from €603 million in H1 2024 [3][8] - Revenue increased to €4.5 billion from €4.27 billion, marking a 5% growth [3][8] - The company reported a consolidated net debt of -€223 million, indicating a strong financial position [4][8] Business Divisions - The Highways division saw a revenue increase of 14.9% to €676 million, primarily due to growth in North America [5][9] - The Construction division achieved a 3.5% adjusted EBIT margin and an all-time high order book of €17.3 billion, with North America contributing 45% [6][10] - In the Airports division, the New Terminal One (NTO) project is progressing well, with 72% construction completion and 21 airline agreements reached [7] Strategic Moves - Ferrovial completed the sale of a 50% stake in AGS Airports for €533 million and acquired a 5.06% stake in the 407 ETR for €1.3 billion [4] - The company allocated €334 million to shareholder distributions and €244 million to equity injections in the NTO project at JFK International Airport [4]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全 部 或 任 何 部 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 （在 百 慕 達 註 冊 成 立 之 有 限 公 司） （股 份 代 號：01052） 2025年6月未經審計營運資料 本集團2025年6月 未 經 審 計 的 營 運 資 料 如 下： | | | | 日均收費車流量（輛 次） | | | | | 路 費 收 入（人 民 幣，千 元） | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 當月環比 | 當月同比 | 2025年 | 累計同比 | | 當月環比 | 當月同比 | 2025年 | 累計同比 | | 項 目 | 當 月 | 變 動 | 變 動 | 累 計 | 變動 | 當月 | 變 動 | 變 動 | 累 計 | 變 動 ...

Leadership Appointments - Alberto González has been appointed as Director of Business Development for Cintra, Ferrovial's Highways division, bringing over 20 years of infrastructure development experience [2][4] - Javier Tamargo has taken on the role of U.S. CEO, overseeing all U.S. highway assets, with more than 20 years of experience in North America and Europe [3][4] - Ricardo Bosch has been named Director of Strategy, focusing on implementing a strategic roadmap for new asset classes and partnerships, with over 25 years of experience in public-private partnerships [4] Strategic Vision - The leadership changes are aimed at enhancing Ferrovial's momentum and expanding its presence in the U.S. and globally, as stated by Cintra CEO Andrés Sacristán [2] - Alberto González will lead efforts to identify strategic opportunities and partnerships to expand the company's portfolio [2] - Ricardo Bosch will focus on structuring and negotiating infrastructure project financing as part of the strategic roadmap [4] Company Overview - Ferrovial operates in more than 15 countries and employs over 25,000 people worldwide, being listed on Euronext Amsterdam, Spanish Stock Exchanges, and Nasdaq [5] - The company is a member of Spain's IBEX 35 index and is included in sustainability indices like the Dow Jones Best in Class Index [5]

| | | | 日均收費車流量（輛 次） | | | | | 路 費 收 入（人 民 幣，千 元） | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 當月環比 | 當月同比 | 2025年 | 累計同比 | | 當月環比 | 當月同比 | 2025年 | 累計同比 | | 項 目 | 當 月 | 變 動 | 變 動 | 累 計 | 變動 | 當月 | 變 動 | 變 動 | 累 計 | 變 動 | | 附屬公司項目 | | | | | | | | | | | | 廣州北二環高速 | 277,048 | –6.4% | 1.9% | 288,826 | 1.8% | 83,673 | –2.6% | –0.2% | 417,672 | –0.5% | | 廣西蒼郁高速 | 14,764 | –19.1% | 9.6% | 19,944 | 1.1% | 7,383 | –14.4% | 2.2% | 42,964 | 0.6% | | 湖南長株高速 | 65,007 | –3.3% | 1.8% | 7 ...

Summary of the Conference Call Company Overview - The conference call discusses the annual report of a company operating in the high-speed transportation and real estate sectors, specifically focusing on its performance over the past year and future outlook. Key Financial Metrics - The company reported a revenue of **696.9 billion yuan**, an increase of **12.66 billion yuan** (approximately **1.84%**) from the previous year [1] - Revenue from the high-speed block was **4.5 billion yuan**, down **3.39%** [1][2] - Real estate revenue decreased by **47.34%**, totaling **1.31 billion yuan** [1][2] - Investment block revenue increased by **16.74%**, reaching **0.23 billion yuan** [1] - Construction service revenue surged by **198%**, amounting to **23.15 billion yuan** [1] - Financial costs decreased by **17.15%**, totaling **8.93 billion yuan** due to lower interest rates [3] - Net profit attributable to shareholders increased by **6.27%**, reaching **10.65 billion yuan** [3] Sector Performance High-Speed Block - The high-speed block's revenue decline is attributed to external factors such as weather conditions and market confidence in real estate [2] - The company is focusing on optimizing resource allocation and improving operational efficiency in this segment [4] Real Estate Sector - The real estate sector is facing challenges due to a low market environment and public confidence issues [2] - The company is actively working on cost-cutting measures and has reduced operational costs significantly [2][14] Investment and Construction Services - The investment segment saw a significant increase in revenue, primarily due to successful equity investments [3] - Construction services have benefited from increased demand, leading to a substantial revenue increase [1] Strategic Initiatives - The company is pursuing a valuation improvement plan, which includes accelerating foreign mergers and acquisitions to expand its asset base [5] - Plans to optimize resource configuration and integrate real estate blocks are underway [4][5] - The company aims to maintain a dividend payout ratio of no less than **40%** [10] Future Outlook - The company anticipates continued revenue growth in the communication team, projecting a **10%** increase compared to 2024 [11] - There are expectations for gradual recovery in traffic costs and freight income due to improved weather conditions and operational efficiencies [11][12] - The company is exploring opportunities for further acquisitions and partnerships to enhance its market position [16] Risks and Challenges - The real estate market remains a significant risk, with potential impacts on revenue and profitability due to ongoing market volatility [2][14] - The company is closely monitoring changes in government policies that could affect its operations and financial performance [17][18] Additional Insights - The company has a total capital expenditure planned for **3.98 billion yuan** in 2025, focusing on key projects like the Zhengzhou-Luoyang Expressway [7] - The debt rate is expected to be controlled at around **70%**, with ongoing efforts to manage financial expenses effectively [8] This summary encapsulates the key points discussed during the conference call, highlighting the company's financial performance, sector-specific insights, strategic initiatives, and future outlook.

Group 1 - The construction of the Zizhong to Tongliang expressway, with a total investment of 20.2 billion, is accelerating and will connect the Chengdu-Chongqing region, creating a "one-hour friend circle" [2] - Since the opening of the first expressway in Sichuan in 1995, a total of 16 expressways have been built between Sichuan and Chongqing, with the total mileage exceeding 2300 kilometers, including the upcoming Zizhong to Tongliang expressway [2][3] Group 2 - The Chengyu expressway, opened in 1995, has an average daily traffic of over 100,000 vehicles [3] - The Dazhou to Kaizhou expressway is a key project for the Chengdu-Chongqing economic circle, reducing travel time from 2 hours to 40 minutes [3] - The Luzhou to Yongchuan expressway has improved water-land transport efficiency by 40% [4]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 （在 百 慕 達 註 冊 成 立 之 有 限 公 司） （股 份 代 號：01052） 2024年10月未經審計營運資料 | | | | 日均收費車流量（輛 次） | | | | | 路 費 收 入（人 民 幣，千 元） | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 當月環比 | 當月同比 | 2024年 | 累計同比 | | 當月環比 | 當月同比 | 2024年 | 累計同比 | | 項目 | 當月 | 變 動 | 變 動 | 累 計 | 變動 | 當月 | 變 動 | 變 動 | 累 計 | 變 動 | | 附屬公司項目 | | | | | | | | | | | | 廣州北二環高速 | 263,389 | -20.9% | 1. ...

– 1 – 簡 要 說 明： 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 （在 百 慕 達 註 冊 成 立 之 有 限 公 司） （股 份 代 號：01052） 2024年9月未經審計營運資料 本集團2024年9月 未 經 審 計 的 營 運 資 料 如 下： | | | | 日均收費車流量（輛 次） | | | | | 路 費 收 入（人 民 幣，千 元） | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 當月環比 | 當月同比 | 2024年 | 累計同比 | | 當月環比 | 當月同比 | 2024年 | 累計同比 | | 項目 | 當月 | 變 動 | 變 動 | 累 計 | 變動 | 當月 | 變 動 | 變 動 | 累 計 | 變 動 | | 附屬公司項目 | | | | ...