Ferrovial CEO on US Toll Road Growth, JFK Terminal 1, and Infrastructure Investment

Ferrovial's Strong Financial Performance

• 📈 Profits jumped 30% in the first half of the year, largely driven by the highways business in North America.
• 🎯 The company saw EBITDA growth of 14% in its US tollways, with strong performance in cities like Dallas and Charlotte.
• 🏗️ The construction business is also performing well, achieving a 3.12% EBIT margin, which is in line with the company's long-term average.

Impact of US Legislation on Infrastructure

• 💡 Increased TIA funding from 33% to 49% is seen as a very positive development for large infrastructure projects.
• ⏱️ Streamlining environmental regulations and permits is expected to reduce timing and costs for projects.
• 🤝 The company hopes for increased private partner participation in large infrastructure projects, especially with the upcoming surface transportation authorization bill.

JFK Terminal 1 Development

• ✈️ Ferrovial is investing over $1 billion in building a new world-class terminal at JFK, with 72% physical progress and on track to open next year.
• 🌍 This new terminal is expected to serve the growing demand for international travel, particularly for customers flying to and from Europe.
• 🌐 The company is looking for similar airport expansion opportunities in the US where private partners can accelerate development.

Currency Impact and Investor Relations

• 💶 As a European company, Ferrovial's dividends in Euros are affected by the exchange rate with the US dollar.
• 🇺🇸 However, with 80% of the company's value and assets in North America, the impact is naturally mitigated.
• 📈 Ferrovial is listed on NASDAQ and aims to attract US investors, maintaining a good equilibrium with its US-based assets and investments.