Ferrovial Predicts 10% Loss For Its Construction Business in Spain in 2014

11/03/2014 – La Vanguardia

Ferrovial foresees a “new significant fall” in its construction business in Spain this year, given the depreciation on the market persists. The company run by Rafael del Pin claims that no matter what, it will compensate the loss with international activity that assures “stable” numbers.

In fact, at the end of 2013, about 70% of portfolio made of works pending execution for €7.867 million corresponded to contracts signed outside of Spain. (…).

Apart from the large investments in the United States and Scotland, the company is present in Poland through Budimex firm. There, Ferrovial predicts growth in revenues due to “economical improvement and support from funds of the EU”.

At the same time, Rafael de Pino is planning to enter “great potential” markets, such us Colombia, Peru and Brazil in South America, Australia and the Middle East area. The group bases the expansion plans on its core business: highways, airports and services. When it comes to the airports, Ferrovial is seeking opportunities in Colombia, Peru or Chile (…).

 

 

Original article: La Vanguardia

Translation: AURA REE

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