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Ferrovial

Ferrovial - Integrated annual report 2013 / Airports

Ferrovial is one of the greatest airport operators in the world and the largest investor and industrial partner of Heathrow Airport Holdings (HAH), which operated four airports in 2013 in the United Kingdom: Heathrow, Southampton, Glasgow and Aberdeen. These airports were used by 84.9m passengers, serving around 150 airlines and travelling to approximately 600 destinations worldwide.

In 2013 an extraordinary dividend of £300 million was approved after the sale of Stansted in February. The annual ordinary dividend rose to £255 million. The focus of HAH's financing activities has been to take advantage of attractive financing market conditions in order to refinance existing debt, optimise the Group’s long-term cost of debt and extend its debt maturity profile.

In December 2013, the Davies Commission selected a third runway at Heathrow as one of 3 possible options to expand airport capacity in the United Kingdom. In 2015 the commission will release a report with their final recommendation.

Jorge Gil2013 Results

Ferrovial Airports 
  • 84.9 passengers
    millions
  • 18%increased
    EBITDA 
  • 600destinations
  • 150airlines

In February, Ferrovial completed the sale of Stansted, which together with Edinburgh, put an end to the divestments imposed by the UK Competition Commission.

In October 2013, Ferrovial announced the disposal of 8.65% stake of HAH’s holding company, to the British pension fund Universities Superannuation Scheme (USS). The sale of this stake, valued at €461m, is outlined in Ferrovial’s investment diversification strategy.

With regards to bidding activity, in 2013 Ferrovial Airports analysed several opportunities and took part in the privatisation of the Brazilian airports of Rio de Janiero and Belo Horizonte as well as in the American airport Chicago Midway.