Ferrovial - Annual Report 2012

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Construction

Construction in Spain

The Construction division in Spain operates in all areas of civil works and building construction. In civil engineering, the division designs and builds all kinds of infrastructures: roads, railroads, hydraulic works, maritime works, hydroelectric and industrial works, etc. The division also has extensive experience in commercial and residential construction.

Turnover stood at 1.257 billion euro, with an order backlog totaling 2.226 billion, both showing declines of 24% and 20% respectively on the previous year (not including the domestic operations of Cadagua), in line with other major companies in the market. Despite these declines, business margins have been wider than in previous years, thanks to selective contracting, consistent structural cost adjustments and the freeing-up of provisions on completion of projects, which has not been offset by the start of new projects.

Major contract awards this year include the public-private partnership project to build the Olmedo-Pedralba section of the Madrid-Galicia high-speed rail line (157 million euro, in a joint venture at 28%), the A-66 Highway between Benavente and Zamora (146 million euro, in a JV at 50%), the Padornelo-Lubian tunnel sections (92 million euro), the Espiño Tunnel (83 million euro) on the Madrid-Galicia high-speed railroad line, the construction of several gas pipeline sections for Endesa Gas (65 million euro) and the construction and supply of reinforced pipes for the Moralets II power plant (32 million euro).

Many one-off projects were opened in 2012: the TERCAT container terminal at the Port of Barcelona; the A-40 Villarrubia de Santiago-Santa Cruz highway in Toledo; the Ferreries bypass in Menorca; runways and platforms at the Palma de Mallorca Airport; the Pamplona I Penitentiary Center; the Institute of Molecular Medicine in Alcalá de Henares; the Casa del Lector at the Matadero Cultural Center in Madrid; and the Biology and Mathematics Faculty in Santiago.

Awards received in the year include the "Award for the best civil works project in 2012" from the Madrid Association of Civil Engineers for the Serrano street parking garage in Madrid; an honorable mention at the "Ibiza & Formentera 8:11 Architecture Awards" for the Can Cantos development; 12 awards from the "2012 Solar Decathlon Europe Awards" for the Patio 2.12 sustainable housing project; and an honorable mention from the "2011 Prever" awards for the Railroad and Transport Division.

Other highlights include the Ferrovial Railway company starting business in 2012 as a freight rail operator, with authorization granted by the Ministry of Civil Works.

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This is an electronic version of the 2012 Annual Report prepared by Ferrovial, S.A. for its stakeholders, which aims to be complete and accurate. The contents of this version can be checked by referring to the print version. A copy of the print version in PDF format is available to download on this web page