An open letter from Ferrovial CEO Ignacio Madridejos
NEW
YORK, May 9, 2024 /PRNewswire/ -- Today in
New York and around the world,
Ferrovial employees are celebrating our entrance into the U.S.
stock market, a significant milestone for us as one of the world's
leading infrastructure companies.
Ferrovial began trading under the Nasdaq ticker symbol FER. To
mark the occasion, our Chairman Rafael del
Pino rang the opening bell, signaling not only the opening
of trading, but the opening of a new era for Ferrovial in the U.S.
It's a market we know well. We have been here for more than 20
years building and managing toll roads in Texas, Virginia, and North
Carolina, and we are currently developing the New Terminal
One at JFK International Airport in New
York.
Today, more than 80% of Ferrovial's equity value comes from
North America, according to
analysts' consensus, primarily the United
States. With approximately $27
billion in market capitalization, we are North America's largest listed road and
airport infrastructure company. We plan to continue to expand our
North American asset base in the coming years. Our ability to
expand and scale depends on having access to capital markets around
the world. Given the significance of our operations and opportunity
in the U.S., our presence on Nasdaq is an obvious next step that
positions us well for future growth as a multinational company.
Our differentiated business model across four units---toll
roads, airports, energy, and construction---positions us well.
Our business units are capitalizing on three macroeconomic
trends creating unprecedented growth opportunities in our most
important end markets:
- The increasing need to modernize and expand road transportation
infrastructure.
- Accelerating demand for efficient commercial air travel, with
rising passenger traffic driving the need for more capacity; plus,
more travelers seeking an improved passenger experience.
- Accelerating investment in the energy transition
and renewables.
Our distinct business model allows us to tackle the most complex
projects in each of our end markets in a way that creates the most
value. Our integrated model supports the entire lifecycle of a
project---from conceptualization to design, funding, construction,
and operation of critical infrastructure like highways and
airports. We have a strong understanding of project risks and how
to mitigate them. We have achieved a 12% annual total shareholder
return in the last 10 years as a result of our value-oriented
investment process, financial discipline, and best-in class
capabilities.
Our ability to build strong and long-lasting partnerships is
also a key to our success. Over the years, we have successfully
partnered with both investors and contractors to develop our main
assets. We build strong relationships with local authorities and
stakeholders in the communities we serve.
And we're proud of our work. Our infrastructure projects provide
innovative solutions to complex challenges faced by growing
metropolitan areas. Nearly 85 million passengers traveled through
our airports in 2023. Currently, in New
York, the New Terminal One project represents a $9.5 billion investment, and will increase the
terminal's capacity to serve an estimated 23 million passengers
annually with a best-in-class experience. It will be the
largest terminal at JFK International Airport. In Dallas-Fort Worth, Texas; Charlotte, North Carolina; and Northern Virginia, more and more people are
choosing our express lanes. We saw nearly 200 million transactions
last year. As a result, travelers on these highways saved 882,000
hours in travel time. We are ~4,300 employees strong in the U.S.
and growing. We also engage more than 7,000 local suppliers in the
U.S. and Canada. Collectively, our
more than 150 projects in North
America have contributed $176
billion in economic impact.
I am grateful for the ~24,000 Ferrovial employees around the
world, and our clients and partners who made this milestone
possible. Together, we have made Ferrovial one of the world's
leading infrastructure companies. We are distinguished by the
quality of our portfolio, the breadth of our experience and, above
all, our ability to fully develop complex, high-value
infrastructure projects around the world.
And this is only the beginning. With our stock trading in
Spain, the Netherlands and now the U.S., we have
access to greater financial resources to continue to invest and
grow, enabling new and expanding development opportunities across
all our business units and geographies.
We look forward to continuing to provide innovative infrastructure
solutions to communities around the world, helping them to flourish
as their populations grow.
Together, we're building a future where infrastructure is a
catalyst for progress. We're building the future of infrastructure
for a world on the move.
Ignacio Madridejos
Ferrovial CEO
About Ferrovial
Ferrovial is a leading global infrastructure company
transforming highways, airports, and energy infrastructure across
North America and around the
world. With approximately $27 billion
in market capitalization, Ferrovial is North America's largest listed road and
airport infrastructure company. The company has operated in
North America for more than 20
years building and managing toll roads in Ontario, Texas, Virginia, and North
Carolina, and is currently developing the New Terminal One
at JFK International Airport in New
York. Ferrovial is present in more than 15 countries, with
global headquarters in Amsterdam
and U.S. headquarters in Austin,
Texas. For more information, visit Ferrovial on LinkedIn and
X @ferrovial, and at www.ferrovial.com.
Find out more information:
Corporate
Communications
newsroom.ferrovial.com
@ferrovial
@ferrovial_es
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SOURCE Ferrovial