Ferrovial S.A.
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Ferrovial S.A. Financial Snapshot
Operating Performance
Fast Facts
C/ Principe de Vergara 135, Madrid, The company reported revenues of US$16,248.00
Headquarters Address
28002,Spain million during 2010, with a CARC of 1.24% during
2006–2010. Its revenue declined at an annual rate of
Telephone + 34 91 5862730
4.60% over the previous fiscal year. In 2010, the
company recorded an operating margin of 27.85%, as
Fax + 34 91 5862689 against 7.15% in 2009.
Website www.ferrovial.com
Revenue and Margins
Ticker Symbol, Stock Exchange FER, Mercado Continuo Espana
Number of Employees 101,988
Fiscal Year End December
Revenue (in US$ million) 16,248.00
Revenue (in EUR million) 12,186.00
SWOT Analysis Return on Equity
Strengths Weaknesses The company recorded a return on equity (ROE) of
41.64% for 2010, as compared to its peers,
Dependency on domestic and the UK Actividades de Construccion y Servicios S.A. (Ticker:
Diversification in products and regions
market ACS), HOCHTIEF AG (Ticker: HOT) and Eiffage SA
(Ticker: FGR), which recorded ROEs of 31.41%,
Increasing flow of projects Sale of assets 9.71% and 9.44% respectively. The company
reported an operating margin of 27.85% in 2010.
Increasing margins
Return on Equity
Research, development and innovation
Opportunities Threats
Shortage of labor in the US and
Aging US water infrastructure
Europe
Slow growth of the US construction
High-Speed rail network in the US
industry
Infrastructure investments in emerging Sluggish Spanish and Western
markets European markets
Strategic acquisitions
Trans-European network transport
program
Liquidity Position
The company reported a current ratio of 0.90 in 2010,
as compared to its peers, Actividades de
Construccion y Servicios S.A., HOCHTIEF AG and
Eiffage SA, which recorded current ratios of 0.96,
1.24 and 0.80 respectively. As of December 2010, the
company recorded cash and short-term investments
of worth US$3,601.33 million, against US$3,001.33
million current debt. The company reported a debt to
equity ratio of 4.57 in 2010 as compared to its peers,
Actividades de Construccion y Servicios S.A.,
HOCHTIEF AG and Eiffage SA, which recorded debt
to equity ratios of 3.34, 1.09 and 6.04 respectively.
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Ferrovial S.A. - SWOT Profile Page 1
Ferrovial S.A.
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TABLE OF CONTENTS
1 Business Analysis ................................................................................................................................... 5
1.1 Company Overview ................................................................................................................................................5
1.2 Business Description ..............................................................................................................................................5
1.3 Major Products and Services .................................................................................................................................6
2 Analysis of Key Performance Indicators ............................................................................................... 7
2.1 Five Year Snapshot: Overview of Financial and Operational Performance Indicators ..........................................7
2.2 Key Financial Performance Indicators .................................................................................................................10
2.2.1 Revenue and Operating Profit .........................................................................................................................10
2.2.2 Asset, Liabilities and Capex .............................................................................................................................11
2.2.3 Net Debt vs. Gearing Ratio ..............................................................................................................................12
2.2.4 Solvency ..........................................................................................................................................................13
2.2.5 Valuation ..........................................................................................................................................................14
2.3 Competitive Benchmarking ..................................................................................................................................15
2.3.1 Market Capitalization .......................................................................................................................................15
2.3.2 Efficiency ..........................................................................................................................................................16
2.3.3 Capital Expenditure ..........................................................................................................................................17
2.3.4 Valuation ..........................................................................................................................................................18
2.3.5 Turnover – Inventory and Asset .......................................................................................................................19
2.3.6 Liquidity ............................................................................................................................................................20
3 Mergers & Acquisitions and Partnerships ........................................................................................... 21
3.1 M&A and Partnerships Strategy ...........................................................................................................................