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Ferrovial, S.A.
Sociedad Anónima
Traded as BMADFER
Industry Transportation
Founded 1952
Founder Rafael del Pino
Headquarters Príncipe de Vergara 135, 28002 Madrid, España
Area served
Spain, Portugal, United Kingdom, Ireland, Italy, Poland, Switzerland, Greece, USA, Canada, Chile
Key people
Rafael del Pino Calvo-Sotelo (President), Iñigo Meirás Amusco (CEO)
Services Residential, commercial property and infrastructure construction; toll road operation; airport and infrastructure management; waste management; facility management
Revenue €12,208 million (2017)[1]
€638 million (2017)[1]
€454 million (2017)[1]
Total assets €8,063 million (2017)[2]
Total equity €6,234 million (2017)[2]
Number of employees
95,978 (2016)[2]
Divisions Airports
Subsidiaries Amey plc
AGS Airports (50%)
Heathrow Airport Holdings (25%)
Ferrovial head office, in Chamartín, Madrid

Ferrovial, S.A. (Spanish pronunciation: [feroˈβjal]), previously Grupo Ferrovial, is a Spanish multinational company involved in the design, construction, financing, operation (DBFO) and maintenance of transport infrastructure and urban services. It is a publicly traded company and is part of the IBEX 35 capitalization-weighted stock market index. The company is headquartered in Madrid.[3] Ferrovial operates through four divisions[4] in over 15 countries.[5]


The company was founded by Rafael del Pino y Moreno in 1952 as a railroad construction company called Ferrovial, from the Spanish word for "railroad". Ferrovial acquired 98.27% of Agromán,[6] another leading Spanish contractor in June 1995 and then set up Cintra in February 1998: presided over by Rafael del Pino Calvo-Sotelo, Cintra originally comprised three business lines: Car Parks, Toll Roads and Airports (the latter would eventually be separated from the other two business lines).[7]

In the early years of the new millennium the company expanded acquiring 58.5% of the Polish construction company Budimex Dromex S.A. in April 2000[8] and Bristol Airport in Southwest England in December 2000. Joaquín Ayuso was appointed CEO of the Ferrovial group in January 2002; Santiago Bergareche remained on the Board and was appointed Vice Chairman. In June 2002, Ferrovial acquired the concession for Sydney airport, the largest airport in Australia.[9]

The company then expanded in the United Kingdom acquiring Amey plc, a British contractor and major investor in Tube Lines, one of the two public–private partnership companies responsible for the maintenance of London Underground's lines and rolling stock in April 2003[10] and Belfast City Airport in May 2003.[11]

Acquisitions continued: the Texan group Webber, specializing in civil engineering infrastructure, recycling of aggregates and extraction and supply of sand in Texas[12] and Swissport International were both bought in August 2005.[13]

In 2006, a Ferrovial-led consortium purchased the British company BAA Limited, for £10bn[14] and BAA sold its stake in Bristol airport to Macquarie Airports.[15] Then in 2007, Ferrovial finalised the sale of its stake in Sydney Airport and MAp exercised its call option on Ferrovial Airports' 20.9% stake in Sydney Airport for the agreed price of A$1.009 bn.[16] Also in 2007 Ferrovial sold Budapest Airport to a consortium led by Hochtief AirPort GmbH for £1.3bn [17] and announced changes in its corporate structure. Iñigo Meirás, former Head of the Services Division, was appointed CEO of the new Airports Division. Santiago Olivares, who was head of the international area of the Services division and CEO of the handling subsidiary, Swissport, was appointed CEO of Ferrovial Servicios. Enrique Díaz Rato, then CEO of Cintra, was appointed to head the Toll Roads & Car Parks Division.[18] At the end of the year BAA finalised the sale of its stakes in 6 Australian airports to Hastings Fund Management Limited for approx. €495m.[19]

In 2008, BAA sold World Duty Free Europe (WDF) to Autogrill for £546.6m,[20] 33 properties of Airport Property Partnership (APP) to Arora Family Trust, a private group, for £265m[21] and Belfast City Airport Limited to ABN Amro Global Infrastructure Fund / Faros Infrastructure Partners LLC for £132.5m.[22]

In 2009 Ferrovial subsidiary Amey and the UK's Birmingham City Council announced financial close on the £2.7bn Birmingham Highways private finance initiative (PFI) scheme[23] and Cintra completed the sale of its 99.92% stake in subsidiary Cintra Aparcamientos, S.A. to a consortium for €451m, including bank debt.[24] Later in the year Ferrovial appointed Íñigo Meirás as the new CEO, relieving Joaquín Ayuso who was subsequently named Vice-Chairman of the group. On 21 October 2009, BAA reached an agreement to sell London Gatwick airport to an entity controlled by Global Infrastructure Partnership for £1.5bn[25] and Ferrovial's majority-owned subsidiary Cintra was reacquired in full in December 2009.[26] On 17 December 2009, NTE Mobility Partners LLC, a consortium in which Cintra has a majority stake, completed raising $2 bn to finance the North Tarrant Express Managed Lanes project in Texas[27] and on 29 December 2009, Cintra sold 60% of its Chilean subsidiary to ISA for €209m.[28]

Then in 2010 Transport for London completed the deal to purchase PPP contractor Tube Lines from Ferrovial for £310m[29] and Ferrovial subsidiary Amey acquired the national rail consultancy of WYG Engineering Limited (‘WYG’), part of the WYG Group (formerly, White Young Green).[30] Ferrovial also sold its 50% stake in Autopista Trados 45 for €67m[31] and Ferrovial Servicios subsidiary AmeyCespa acquired Dickerson Group, including its U.K. waste management company Donarbon, for £48.6m.[32]

In 2012 BAA sold Edinburgh Airport to Global Infrastructure Partners for £807m.[33] Ferrovial also announced the sale of a 10% stake in the parent company of Heathrow Airport Holdings Ltd to Qatar Holding LLC for £478m. Following this sale Ferrovial now has an indirect interest in Heathrow of 33.65%.[34]

On 19 January 2013, Heathrow Airport Holdings (formerly BAA) announced the sale of Stansted Airport for £1.5bn to Manchester Airport Group[35] and on 21 February 2013, Ferrovial, through Ferrovial Services, reached an agreement with international investor 3i to acquire Enterprise, one of the UK's leading providers of services to utilities and the public sector, for £385m.[36]

In April 2016, Ferrovial bought out Broadspectrum (formerly 'Transfield Services'), becoming the primary contractor to the Australian government for its internationally often condemned offshore Manus Regional Processing Centre in East Lorengau. Subsequently, Ferrovial announced that it did not want to renew its contract. However, thereupon, the Australian enacted a clause allowing a unilateral extension of the contract for five months.[37]


Ferrovial has a presence in 15 countries.


  • Ferrovial Agroman: construction
  • Cadagua: water treatment
  • Ferrovial Services Spain
  • Cintra: Highways

United States[edit]

  • Highways: CNTE, LBJ, I-77, I-66[38]
  • Construction: Ferrovial Agroman and Webber[39][40]
  • Ferrovial Services International[41]


  • Toll roads: 407 ETR[42]


  • Construction: Budimex
  • Services: FBSerwis SA

Australia and New Zealand[edit]


  • Steel Ferrovial Services[44]

United Kingdom[edit]

  • Airports: Heathrow (25%), Aberdeen, Glasgow and Southampton (50%)[45]
  • Services: Amey[46]
  • Construction: Ferrovial Agroman

Major projects[edit]

Guggenheim museum, Bilbao.


Shareholder Voting rights
Freefloat 60%
Rijn Capital BV - a company controlled by Rafael del Pino, Chairman of Ferrovial 20.3%
Menosmares S.L.U 8.2%
SiempreLara S.L.U. 5.1%


  1. ^ a b c "Business Performance 2017". Ferrovial. Retrieved 17 March 2018. 
  2. ^ a b c "Business Performance 2017". Ferrovial. Retrieved 17 March 2018. 
  3. ^ "Contacts." Ferrovial. Retrieved on 3 February 2011. "Príncipe de Vergara 135, Madrid 28002"
  4. ^ "Ferrovial" (in Spanish). 
  5. ^ "Ferrovial: premio a la presencia exterior" (in Spanish). 
  6. ^ Ferrovial Business Lines: 1990s
  7. ^ Official Cintra Website - History
  8. ^ Investment Profile Poland: Page 21 Archived 2007-10-16 at the Wayback Machine.
  9. ^ Ferrovial - History
  10. ^ Spanish firm set to buy Amey
  11. ^ Spanish firm secures Northern Ireland Airport
  12. ^ Webber Acquisition
  13. ^ Ferrovial Agrees to Buy Swissport
  14. ^ BAA agrees to Ferrovial takeover
  15. ^ Ferrovial Sells Bristol Airport Stake to Macquarie
  16. ^ Ferrovial sells Sidney airport
  17. ^ "Newsfeed". Ferrovial. Retrieved 2017-11-12. 
  18. ^ Ferrovial Management Changes
  19. ^ BAA completes sale of Australian assets
  20. ^ BAA sells World Duty Free shops
  21. ^ Ferrovial's BAA agrees to partial sale of APP assets for 265 mln stg
  22. ^ Ferrovial sells Belfast
  23. ^ Amey reaches financial close on £2.7bn Birmingham Highways PFI
  24. ^ Cintra Sells Car Parks Division
  25. ^ BAA sells Gatwick airport for 1.657 billion euro
  26. ^ "Notice of the Technical Advisory Committee of the IBEX Indices concerning the merger between Grupo Ferrovial, S.A. and Cintra Concesiones de Infraestructuras de Transporte, S.A." (PDF). Sociedad de Bolsas. 26 October 2009. Archived from the original (PDF) on 2011-07-16. Retrieved 2010-01-04. 
  27. ^ Cintra finishes raising 2 billion dollars to finance the North Tarrant Express in Texas
  28. ^ Cintra sells 60% of its Chilean subsidiary to ISA for 209 million euros
  29. ^ TfL completes Tube Lines buy out
  30. ^ Amey buys WYG rail division
  31. ^ Ferrovial sells its 50% stake in Autopista Trados 45 for 67 million euro
  32. ^ Spanish firm acquires U.K. waste management firm
  33. ^ Edinburgh Airport sold to Global Infrastructure Partners for £807m BBC, 23 April 2012
  34. ^ Ferrovial completes sale of 10.62% of Heathrow Airport Holdings to Qatar Holding
  35. ^ BBC News - Stansted Airport being sold to Manchester for £1.5bn
  36. ^ Ferrovial buys Enterprise from 3i for £385m The Telegraph, 21 February 2013
  37. ^ Davidson, Helen (29 October 2017). "Manus Island: dark chapter of Australian immigration poised to close". The Guardian. Retrieved 30 October 2017. 
  38. ^ "Ferrovial, el constructor de autopistas de EEUU" (in Spanish). 
  39. ^ "Ferrovial refuerza su apuesta por Estados Unidos con la compra de la texana Webbe" (in Spanish). 
  40. ^ "Company Overview of Ferrovial Agroman US Corp" (in Spanish). 
  41. ^ "Ferrovial reorganiza su filial de servicios para crecer más en Australia y EEUU" (in Spanish). 
  42. ^ "Ferrovial prolongará la autopista 407 en Canadá por 780 millones" (in Spanish). 
  43. ^ "Broadspectrum finally gives into Ferrovial's overtures". 
  44. ^ "Ferrovial entra al mercado de la transmisión eléctrica con la compra de Transchile" (in Spanish). 
  45. ^ "Heathrow's largest shareholder sees 'positive side effects' from Brexit". 
  46. ^ "Ferrovial cierra la compra de la británica Amey y la excluye de Bolsa" (in Spanish). 
  47. ^ Ferrovial history: 1990s
  48. ^ Ferrovial history: 2000 - 2004
  49. ^ 'Celtic Tiger threatens 'very soul of historic Ireland'
  50. ^ Ferrovial Agroman to build Heathrow Airport's new Terminal 2

External links[edit]


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