Ferrovial sells Amey to two private equity firms for 278 million

Ferrovial has completed the divestment of its services division. The last step of this process is Closing the sale of Amey Grupo in two private equity, North American One Equity Partners and British Buckthorn Partners. As reported by the Spanish company, Ferrovial will receive a net cash payment of 124 million euros and 154 million euros will be paid in 5 years at 6 percent interest, increasing to 8 percent from the third year. Estimated capital gain is €50 million when results are taken into reserves for conversion differences and interest rate hedges. The definitive closure of the operation will be extended until 2022 when ordinary and regulatory permits are met.

Infrastructure maintenance, consulting and services in Amey, UK facility Management. operational waste treatment does not contaminatepart of the energy infrastructure and mobility division. The company has a value of 455 million euros and an estimated capital value of approximately 278 million.

In its final results, Amey achieved a turnover of 1.647 million euros and 51.5 million gross operating results with a portfolio valued at 7,290 million. All this with a workforce of 11,000 workers. In a statement, the buyers noted that Amey “has a long history in the design and management of critical infrastructure in the UK” and that it will be “important in accelerating the energy transition by improving the performance of transport and construction infrastructure”. ”

disposal of the service division

Ferrovial’s Strategic Plan is that of the currently completed service segment. focus your business on infrastructure. This segment is the segment that provides the highest return to company shareholders. Through 2024 and from 2020, the listed company will continue to focus on the promotion, construction and management of infrastructures in addition to its business in the mobility, water and energy transition. If successfully achieved, annual EBITDA growth could be 11%.

Spanish company before Closed the sale of Environment and Infrastructure Services in Spain and Portugal to Grupo Schwarz for 1.032 million Euros, from Broadspectrum to Ventia for A$465 million; Six cleaning contracts for Urbaser for 34 million in the UK; and the North American Oil & Gas business transferred to Architect Equity.

Ferrovial Results

In the first half of 2022, Ferrovial posted revenue of €3,465 million and net profit of €50 millionwas supported mainly by the improvement of traffic on highways and airports. The toll road business improved by 31%, with 76.8% of the division’s revenues coming from the United States. Airports posted 196.8 percent revenue growth. Finally, the construction segment increased its sales by 4.1% in comparable terms and by 83% outside Spain. The company has a liquidity position of EUR 5,937 million and a net cash outflow of EUR 1,521 million from infrastructure projects.

Among the major milestones of the first six months of 2022, Admission to the expansion of JFK International Airport Terminal 1 in New YorkInvolving the development of an international terminal of 232,000 square meters. Ferrovial reached 49% stake, making it the lead partner of the consortium after acquiring 96% of the 51% stake in The Carlyle Global Infrastructure Opportunities Fund.

Source: Informacion


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