Barry Cullinane

Barry Cullinane asked about the potential financial consequences of delays for New Terminal One's Phase A launch, the reasons behind widening operating losses in other segments, and the expected impact of a U.S. government shutdown in Q4.

Answer

CFO Ernesto López Mozo explained that delays beyond June 2026 for New Terminal One would result in liquidated damages for the contractor and delayed revenue perception for Ferrovial. He attributed widening operating losses in other segments to the commissioning and ramp-up issues of a waste treatment plant in the U.K., part of the company's exit from that business. Regarding the U.S. government shutdown, Mr. López Mozo stated no significant impact had been observed on I-66 traffic or state-level bidding processes.

Barry Cullinane asked about the potential financial consequences of a delay to New Terminal One Phase A launch, the reasons behind widening operating losses in other segments, and any expected impact from the U.S. government shutdown in Q4.

Answer

CFO Ernesto López Mozo explained that delays to New Terminal One's June opening would result in liquidated damages for the contractor and delayed revenue perception for Ferrovial. He attributed widening operating losses in other segments to the commissioning and ramp-up of a waste treatment plant in the UK. Regarding a U.S. government shutdown, he reported no significant impact on I-66 traffic or bidding processes, which are mainly state-level.