Ferrovial - Annual Report 2012

ENG SPA

Go to secondary menu

Social commitment

Local Development

Value creation (M€)
Economic value generated  (M€)2012 2011 2010
a) Revenues  
 Sales  7,686   7,446   12,169 
 Other operating revenue  17  15   17 
 Financial revenue  34  181   172 
 Disposal of fixed assets  115  229  740 
 Income by the equity method  222  18   53 
Net income from discontinued operations 
 (BAA deconsolidation)
 0 165
Total 8,074   8,054  13,151
Distributed economic value   
b) Consumption and expenses (1)      
Consumption  1,299 2,366  1,486 
Other operating expenses  3,335 2,258  4,588
c) Payroll and employee benefits      
Personnel expenses  2,142 2,018 3,422
d) Financial expenses and dividends      
Dividends to shareholders (2)  734 367 308 
Financial expenses  371 542 1,818 
e) Taxes      
Corporate income tax  108 63  44 
Total  7,989 7,614  11,666 
Retained economic value  85  440  1,485

(1) The expenses derived from Ferrovial's social action, registered under the heading Other operating expenses together with the expenses of the Foundation, are specified in the Social Commitment Chapter.
(2) An additional dividend was paid during the year of 0.25 euro per share, charged against the merger premium, for a total of 183,000 euro, as agreed at the General Meeting of Shareholders of March 30, 2012.

Local economic development

As an infrastructure manager, Ferrovial plays a fundamental role in the development of local economies. The nature of its business makes Ferrovial a key player in reducing geographical imbalances, as the provision of infrastructures in a region determines its economic development.

Generation of local employment

The company is also active around the world, where it creates employment at the local level and promotes sourcing from local suppliers. Ferrovial is currently present in 26 countries. Despite the economic crisis, Ferrovial has maintained job creation in the main markets where it operates.

Local sourcing

Ferrovial has a purchasing policy that is adapted to its international expansion, while maintaining the goal of strengthening long-term relations with suppliers and subcontractors. To achieve this, the centralized management needed to supply all of the company’s projects is combined with a decentralized approach that allows local project managers to establish strong ties with local subcontractors, who in general have less global exposure.

However, given that the company operates worldwide, in the case of the most important purchases prices are checked internationally to take advantage of the competitiveness offered by other markets around the world.

Management of the supply chain is one of the basic aspects of Ferrovial's environmental management in some business areas, such as Construction and Services, where the level of subcontracting can be significant and the sustainability of many projects depends largely on the performance that the company can demand from suppliers and contractors.

Local investment

The company pursues social investment programs in the areas where it carries out its business activity. Hence, the countries that have benefited from most of the social investment are Spain (67% of total voluntary work) and the UK (12% of total voluntary work). These are the geographical areas that concentrate most of the company’s activities.

Local contribution - taxes paid

Ferrovial is aware of the importance of its contribution to the local economy and maintains a strict policy regarding its tax payments in the countries where it operates.

(See Note 21 "Tax Situation" in the Financial Statement).

Go to main menu

© Copyright 2019. Ferrovial
  • Dow Jones Sustainabiliy Indexes
  • LBG Spain
  • The Global Compact
  • FTSE4Good
  • Carbon disclosure project
  • Corporate Responsibility Prime. Rated by oekom research

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