1. The company
  2. Strategy, vision and values
  3. Volver


Ferrovial - Integrated annual report 2013 / Strategy, vision and values

Ferrovial is a global leader in the construction, management and operation of transport infrastructure and city services.

The company’s activity is carried out through four business units:

  • Airports: airport investment and operation.
  • Toll Roads: promotion, investment and operation of toll roads and other infrastructures.
  • Construction: the design and construction of infrastructures in the areas of civil engineering work, building and industrial construction.
  • Services: efficient provision of urban and environmental services and maintenance of infrastructures and facilities.

Íñigo Meirás 2013 Results

Vision and values 

Ferrovial’s vision responds to three questions about its activity:


This vision reflects Ferrovial’s identity, which is reflected in five values that define the company and its employees:



Ferrovial’s strategy is based on four pillars:

  1. Profitable growth, through a combination of organic growth and selective acquisitions. The strategy of complementing organic growth with selective acquisitions to strengthen the company’s competitive position and add capacity has in 2013 resulted in the acquisition of Enterprise and Steel Ingeniería. With the acquisition of the British company Enterprise, Ferrovial has strengthened its operations in the British market by entering the utilities services sector, optimizing operational excellence through the integration of the activities of Amey and consolidating its environmental business. Steel Ingeniería, a Chilean mining services company, has provided capacity in the industrial maintenance sector for facilities dedicated to the exploitation of mineral deposits.
  2. Internationalization has led Ferrovial to consolidate a significant and stable presence in five geographical areas: Spain, the United States, the United Kingdom, Canada and Poland. The aim is to continue to drive activity in these countries, while developing new markets with appropriate risk management, leveraged by current capacity and establishing alliances with local partners. In 2013 this strategy led Ferrovial to seek opportunities and develop commercial relations in markets such as Australia, some countries in Latin America such as Colombia and Peru and the Middle East.
  3. Operational excellence and innovation are fundamental levers for the management of complex operations and the search for outstanding solutions for its clients. Promotion of employee talent and centers of excellence and innovation improve its competitive position in the different markets, governed by best practices in project management and personal safety. Its commitment to the environment, society and its employees are keys for the development of operational excellence and innovation, which are Ferrovial’s distinguishing features.
  4. Ferrovial’s financial discipline, through diversification of its sources of finance and liquidity management, has improved its credit risk ratings and strengthened the company’s solvency. In 2013 Standard & Poor’s upgraded its credit rating to BBB, with a stable outlook. Ferrovial aims to maintain a low level of debt in terms of debt excluding projects, allowing it to maintain an “investment grade” rating level. The market support for the corporate bond issues in January and May 2013, which were heavily oversubscribed, the improved corporate rating and a record cash flow at the close of the year, all underpin the company’s soundness. Within the framework of financial discipline, asset turnover has heightened the value of investment and financed growth. In 2013 the sale of Stansted Airport in London and a 8.5% stake in HAH has strengthened Ferrovial’s financial position and provided the company with the funds it needs to undertake new investment.

Finally, as a differential element that maximizes value creation, it is worth highlighting the integrated focus of its business units through cross selling, which means Ferrovial can participate in the different stages of the infrastructure cycle and provide outstanding solutions.

An example of this integrated focus is the award in 2013 of major contracts, in which the group’s various divisions have collaborated, such as the extension of the NTE toll road (3A3B) in Texas, the M8 improvement in Scotland and the Valdecilla Hospital in Santander.