Financial Performance Overview - Ferrovial achieved strong performance across all business divisions in 9M 2025[7] - The company's net debt ex-infrastructure projects was -€706 million[7] - Revenue increased to €6,911 million, a 6.2% like-for-like (LfL) increase compared to 9M 2024[47] - Adjusted EBITDA reached €1,031 million, a 4.8% LfL increase compared to 9M 2024[47] - Adjusted EBIT amounted to €691 million, a 6.0% LfL increase compared to 9M 2024[47] Highways Division - US Highways revenue increased by 16.4% LfL compared to 9M 2024[12] - US Highways adjusted EBITDA increased by 15.1% LfL compared to 9M 2024[12] - North American assets contributed €312 million in dividends[12] - 407 ETR's revenue increased by 19.3% to CAD 1,511 million in 9M 2025[15] - 407 ETR's EBITDA increased by 15.8% to CAD 1,283 million in 9M 2025[15] - A Q4 dividend of CAD 1.05 billion was approved for distribution from 407 ETR, a 50% increase compared to CAD 700 million in Q4 2024[21] Construction Division - Construction revenue reached €5,420 million, a 4.6% LfL increase compared to 9M 2024[40] - The construction division's order book stood at €17,168 million, a 9.1% LfL increase[45]

Overall Performance - Ferrovial's net debt ex-infrastructure projects reached -€223 million[7] - Highways, Airports and Construction all showed robust performance[7,9] - Dividends collected from projects totaled €323 million[9] - Shareholder distributions amounted to €334 million[9] Highways - US Highways' revenue increased by 15.9% LfL compared to H1 2024[12] - US Highways' Adjusted EBITDA increased by 14.0% LfL compared to H1 2024[12] - 97% of Highways' Adjusted EBITDA and 88% of Highways' revenue came from US assets[12] - Dividends from North American assets reached €240 million (€339 million in H1 2024)[12] 407 ETR - 407 ETR revenue increased by 19.7% to CAD 933 million in H1 2025[14] - 407 ETR EBITDA increased by 13.0% to CAD 765 million in H1 2025[14] - A CAD 45.2 million provision was accrued for Schedule 22 in H1 2025[17] - A CAD 200 million dividend was paid in H1 2025, a 14.3% increase from CAD 175 million in H1 2024[19] Construction - Construction revenue reached €3,453 million in H1 2025, a 2.6% LfL increase[37] - Construction Adjusted EBIT margin reached 3.5% in H1 2025[37]