Nicolò Pessina's questions to Ferrovial (FER) leadership • Q1 2025
Question
Nicolò Pessina asked for qualitative details on the 407 ETR's promotional campaigns, including the number of users targeted and their acceptance levels. He also sought to confirm if the 22% average ticket increase implied that the impact of the January toll hike was greater than the dilutive effect of the March promotions.
Answer
Executive Ernesto Lopez Mozo disclosed that approximately 1 million customers have been targeted with promotions, which will continue throughout the year. He declined to provide specific utilization data, calling it premature. He also did not confirm the relative impact of the toll hike versus promotions on the 22% revenue-per-trip growth, but stated that any cannibalization is monitored and has been minimal.