Ferrovial - Annual Report 2012


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About this report

Scope of the information

The scope of the information encompasses the companies and any other form of association in which Ferrovial is a majority shareholder or controls its management.

Ferrovial comprises the parent company Ferrovial, S.A. and its subsidiaries and associated companies.

In October 2011, Ferrovial sold 5.88% of Heathrow Airport Holdings Ltd. (formerly BAA Ltd.) to two investment vehicles managed by Alinda Capital Partners. As a result, Ferrovial became an indirect holder of 49.99% of BAA. In addition, in 2012 Ferrovial's indirect holding in this company was reduced to 33.65% as a result of the sale in August 2012 of 10.62% to Qatar Holding LLC, and in October 2012 of 5.72% to Stable Investment Corporation. This Report does not therefore take into account 2012 information for Heathrow Airport Holdings Ltd. (for more details, see Notes 1.2 Changes in the scope of consolidation" in the Ferrovial's 2012 Annual Consolidated Financial Statements and "Scope of information" in Ferrovial's 2011 Annual Corporate Responsibility Report).

Through these companies, Ferrovial conducts its business in the following divisions:


 Of particular importance in this activity is Ferrovial Airports.

Toll Roads

This activity includes the development, financing, execution and operation of toll road projects through the company Cintra Infraestructuras, S.A. The following companies lie within this activity: Autopista del Sol, C.E.S.A., Autopista Terrasa Manresa, S.A., Autopista Madrid Levante, C.E.S.A. Autopista M-203 Alcalá-O’Donnell, S.A., Eurolink Motorway Operation, Ltd. N4/N6 (M4), Eurolink Motorway Operations (M3) Ltd., ITR Concession Company Indiana Toll Road, R4, Euroscut Norte, Euroscut Algarve, Euroscut Azores, North Tarrant Express, LBJ, Vialivre, SH-130, ETR Extension East.


Ferrovial Servicios S.A. is the chief company in this division, which is divided into the following business areas:

  • Maintenance and upkeep of infrastructures, buildings and facilities. Conducted by Amey, Plc. in the UK and Ferroser in Spain.
  • Urban services and waste treatment. This activity is mainly carried out through Cespa S.A. and Cespa Portugal S.A.


This division executes all kinds of public and private works in Spain and abroad, fundamentally through Ferrovial Agroman, S.A., this business division’s flagship company. The following are responsible for some of this division’s most salient activities: Construcción España (Ferrovial Agroman S.A., Compañía de Obras Castillejos S.A., Edytesa S.A., Tecpresa S.L, Ferconsa, Ditecpesa S.A).

Among the most important of its international construction activities are those carried out in Poland through Budimex, S.A. and its subsidiaries; Ferrovial Agroman Canada Inc; Ferrovial Agroman Chile S.A; Ferrovial Agroman US Corp; Ferrovial Agroman Ireland Ltd; Ferrovial Agroman Portugal, S.A.; Ferrovial Agroman Grecia S.A.; Ferrovial Agroman Colombia S.A; Ferrovial Agroman República Dominicana S.A; Ferrovial Agroman Texas S.A; Ferrovial Agroman Italia S.A; Ferrovial Agroman Indiana S.A; Ferrovial Agroman Tunisia; Ferrovial Agroman Puerto Rico S.A and Webber.

Other activities within this division are construction in the United Kingdom (Ferrovial Agroman UK, Ltd) and industrial construction through Cadagua, S.A. and Boremer, S.A.

When the information provided in this Report does not represent the totality of the group, a footnote will be included to this effect.

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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