Summary : Spanish conglomerate Ferrovial (FER.MC) on Thursday reported a net profit of 50 million euros for the first half of 2022, leaving behind a gruelling period of losses as more cars got back on the road and more airplanes took off.
Ferrovial said revenues rose 6.2% to 3.46 billion euros in the first six months of 2022 due a steady recovery of the toll road and airport markets as rules imposed during the COVID-19 pandemic were almost all lifted in Europe and North America.
Last year, the company was affected by coronavirus restrictions on air traffic and travel in the United Kingdom, where it operates London Heathrow airport, Britain’s busiest airport.
The U.S. accounts for 76.8% of Ferrovial’s toll road revenues, and the company said it has fully recovered to pre-pandemic levels despite the deterioration of the macroeconomic environment, the impact of the Omicron variant and weather conditions in the first quarter.
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