Ferrovial reports record order backlog

Ferrovial reported a +22% increase in its order backlog over the first half of this year to a record € 22,8 billion, up from € 18,7 billion at the end of December 2009.

Sales in the first half of € 5,7 billion were down -2,7% on the € 5,9 billion reported last year, but the group reduced its net losses to -€ 164 million, a +41% improvement on the -€ 278 million loss reported for the same period last year.

The company's construction division recorded first half sales of € 2 billion, down -5,2% on the same period last year, but a +30% increase in order backlog over the first half saw it climb to a record high of € 11,4 billion.

A statement said that while the first half performance of the construction division was marked by positive growth in the Group's international sales - up +19% to € 1 billion from € 856 million last year - this was countered by a -22% decline in revenues from Spain to € 1 billion, down from € 1,3 billion 12 months ago.

Ferrovial's toll road division reported a -3,1% drop in sales for the first half to € 487 million, down from € 503 million last year. A statement said that sales were in line with the economic performance of the countries in which the roads were operated.

First half sales in the Group's services division climbed +5,1% to € 1,9 billion, up from € 1,8 billion last year and the order backlog over the first six months climbed +14,6% to a record € 11,4 billion, up from € 9,9 billion in December 2009.

A spokesperson said, "Ferrovial ended the first six months with a record construction and services backlog, up +22% on December 2009. The international backlog continues to gain in importance, accounting for 65% of the construction division total and 58% in services.

"International contracts now account for 61% of Ferrovial's total order backlog."