disposal of the service division
Ferrovial has completed the sale of its services arm, with the final step involving the transfer of Amey Grupo to two private equity buyers, North American One Equity Partners and British Buckthorn Partners. The parent company reports a net cash inflow of 124 million euros immediately, followed by 154 million euros payable over five years at a 6 percent interest rate, rising to 8 percent from year three. A capital gain of around 50 million euros is anticipated when results are adjusted for reserves related to conversion differences and hedges on interest rates. The closing of the transaction is expected to extend through 2022, contingent on the receipt of ordinary and regulatory permits.
Amey contributes to infrastructure maintenance, consulting, and services within the UK facilities management sphere. The company also handles operational waste treatment that supports energy infrastructure and mobility projects. Valued at 455 million euros, Amey carries an estimated capital value near 278 million euros.
In its final results, Amey achieved revenue of 1,647 million euros and gross operating income of 51.5 million. The portfolio stood at 7,290 million, supported by a workforce of about 11,000 employees. Buyers noted that Amey has a long history in designing and managing essential UK infrastructure and highlighted its role in accelerating the energy transition by enhancing performance in transport and construction projects.
strategic direction after the service division disposal
Ferrovial’s strategic plan centers on retaining and expanding its core infrastructure business while winding down the service segment that has provided the strongest returns to shareholders. Through 2024 and beyond, the group intends to focus on the promotion, construction, and management of infrastructure, alongside its expertise in mobility, water, and the energy transition. If targets are met, annual EBITDA growth could reach around 11 percent as the company concentrates its capital and management focus on core assets and strategic opportunities.
Earlier moves included the closure of the Environment and Infrastructure Services division in Spain and Portugal, sold to Grupo Schwarz for 1,032 million euros, and the divestiture of Broadspectrum to Ventia for A$465 million. Several UK contracts were concluded, including six cleaning agreements for Urbaser valued at 34 million euros. The North American oil and gas operations were transferred to Architect Equity as part of the ongoing portfolio optimization.
ferrovial results
During the first half of 2022, Ferrovial reported revenue of 3,465 million euros and net profit of 50 million euros, driven mainly by improved traffic on highways and airports. The toll road business grew by 31 percent, with about 76.8 percent of its revenues generated in the United States. Airports displayed a notable revenue expansion of roughly 197 percent. The construction segment also posted growth, with sales up 4.1 percent on a like-for-like basis and an 83 percent increase outside Spain. The group maintains liquidity of around 5,937 million euros and a net cash outflow of about 1,521 million euros tied to ongoing infrastructure projects.
Key milestones for the first half of 2022 include the expansion of JFK International Airport Terminal 1 in New York, featuring a new international terminal spanning 232,000 square meters. Ferrovial held a 49 percent stake after acquiring a 96 percent share of the 51 percent stake in The Carlyle Global Infrastructure Opportunities Fund, positioning itself as the lead partner within the consortium.