Ferrovial N.v. · BME:FER
Ferrovial — Q3 2026 Earnings Presentation
13 slides from Ferrovial's earnings presentation, Oct 28, 2026
Slide 1: 9M 2026 Operating Results
9M 2026 OPERATING RESULTS October 27, 2026 Picture: 407 ETR (Canada) 9M 2026 1 Financial Results
Slide 2: 9M 2026 Overview
9M 2026 OVERVIEW Highways and Construction continue to drive growth • Highways: 407 ETR delivered robust revenue growth, while US MLs posted all double-digit revenue per transaction growth • Construction: Solid profitability with adjusted EBIT1 margin reaching 4.1% • Airports: March 2027 remains as
Slide 3: 407 ETR: Solid Revenue Growth, Despite Lower Traffic
407 ETR SOLID REVENUE GROWTH, DESPITE LOWER TRAFFIC 2026 PERFORMANCE vs. 2025 (Q3 & YTD) CAD M Q3 2026 VAR. 9M 2026 VAR. Traffic (VKT M) 778 -7.1% 2,067 -1.7% CAD M Q 3 2026 VAR . 9 M 2026 VAR . Revenue 682 18.0% 1,790 18.4% Toll Revenue 639 16.0% 1,694 18.6% EBITDA 600 15 .8% 1,552 21.0% Fee Revenu
Slide 4: DFW Managed Lanes: Traffic Performance Supported by Solid Demand
DFW MANAGED LANES TRAFFIC PERFORMANCE SUPPORTED BY SOLID DEMAND DESPITE CONSTRUCTION WORKS 2026 PERFORMANCE vs. 2025 (Q3 & YTD) NTE LBJ NTE35W USD M Q3 2026 VAR. 9M 2026 VAR. Q3 2026 VAR. 9M 2026 VAR. Q3 2026 VAR. 9M 2026 VAR. Transactions (M) 9 -2.5% 27 -2.2% 13 5.6% 36 3.9% 13 -1.1% 39 -0.2% Reven
Slide 5: DFW Managed Lanes: Revenue per Transaction Growth Outpacing Inflation
DFW MANAGED LANES REVENUE PER TRANSACTION GROWTH SIGNIFICANTLY OUTPACING INFLATION FAVORABLE TRAFFIC MIX AND MORE MANDATORY MODE EVENTS IN NTE & NTE35W VS. 2025 • Favorable traffic mix driven by higher heavy vehicles volumes and the technology enhancements starting in 2025, improving reliability of
Slide 6: I-66 and I-77 Performance
I-66 I-77 OUTSTANDING PERFORMANCE HEAVY VEHICLES SHIFTING TO ALTERNATIVE ROUTES 2026 PERFORMANCE vs. 2025 (Q3 & YTD) 2026 PERFORMANCE vs. 2025 (Q3 & YTD) USD M Q3 2026 VAR. 9M 2026 VAR. USD M Q3 2026 VAR. 9M 2026 VAR. Transactions (M) 10 -5.3% 30 -5.2% Transactions (M) 10 4.1% 27 7.0% Revenue/transa
Slide 7: New Terminal One at JFK and Dalaman
NEW TERMINAL ONE AT JFK DALAMAN FIRST SET OF BASIC TRIALS COMPLETED SOLID DOMESTIC TRAFFIC OFFSETS • March 2027 remains as Phase A DBO, which is subject to, among other factors, INTERNATIONAL DEMAND contractor fulfillment of the remediation plan submitted to the Authority. • Remaining activities foc
Slide 8: Construction: Strong Profitability and Record Order Book
CONSTRUCTION STRONG PROFITABILITY AND RECORD ORDER BOOK 2026 PERFORMANCE vs. 2025 (Q3 & YTD) EUR M Q3 2026 Q3 2025 % VAR. 9M 2026 9M 2025 % VAR. % VAR. LfL1 Revenue 2,132 1,967 8.4% 5,832 5,420 7.6% 9.1% Adj. EBITDA1 160 120 33.3% 383 311 23.1% 23.9% Adj. EBITDA mg1 7.5% 6.1% 6.6% 5.7% Adj. EBIT1 10
Slide 9: Main Operating Figures
MAIN OPERATING FIGURES REVENUE & PROFITABILITY FIGURES (LfL VARIATION1 VS. 9M 2025) REVENUE ADJ. EBITDA1 ADJ. EBIT1 €7,402M €1,210M €823M +10.8% +21.8% +24.2% Picture: I-66 (USA) (1) Non-IFRS financial measure. For the definition and reconciliation to the most directly comparable IFRS measure, refer
Slide 10: 9M 2026 Change in Consolidated Net Debt
9M 2026 CHANGE IN CONSOLIDATED NET DEBT 1 EX-INFRASTRUCTURE PROJECT COMPANIES (€ M) CASH FLOWS EUR -32 M OPERATING (EUR +1,067 M) INVESTING (EUR -50 M) FINANCING (EUR -1,049 M) 591 96 604 85 (71) (56) (231) 23 (461) (612) 4,070 4,038 CASH CASH Dividends Construction Other cash Tax payments Cash flow
Slide 11: Q&A
Q&A Picture: NTE (USA) 9M 2026 11 Financial Results
Slide 12: Disclaimer
DISCLAIMER This presentation has been produced by Ferrovial N.V. (the “Company”, “we” or “us” and, together with its subsidiaries, the “Group”) for the sole purpose expressed herein. By accessing this presentation, you acknowledge that you have read and understood the following statements. Neither t
Slide 13: Investor Relations
Picture: NTE (USA) INVESTOR RELATIONS +34 91 586 25 65 +31 207 983 700 [email protected] www.ferrovial.com 9M 2026 13 Financial Results