My Company

Ferrovial

My company, Ferrovial, a family owned business that opened in 1952 as a railway construction business by the father of the current Chairman, Rafael Del Pino Calvo-Sotelo, who owns 20% of the company and his siblings combined own 15.5%. They are an international and world leading infrastructure operators and municipal services company, I had no idea they existed, what municipal services were or that, most importantly, that they have completed projects in Australia, including Toowoomba Road (includes the Toowoomba Range and bypassing the main center of town), Pacific Highway Toll Road, improvements and maintenance to the Melbourne Road Network and most recently awarded the contract for maintenance for the Ministry of Defence Infrastructures. News articles as recent as Dec 2018 indicate the selling of their support services arm, this being confirmed in their own newspress on their website, does this mean another company will take over this contract?  They construct and manage toll roads, undertake large scale construction projects for infrastructure, civil engineering and industrial construction. They are also involved in Airport investment and operation, along with environmental services and maintenance. Ferrovial is a large employer with over 92,000 employees and has shareholders across the world.

They have consolidated annual reports spanning over 100 pages in most years, it was somewhat difficult to decipher the exact report/tables that I needed in this learning for our unit. This is the first time for me to review such a large organisations financial statements, in my current role I only access profit and loss statements on a monthly basis. I have found the wording in the financial statements something that I need a better grasp on as they appeared somewhat ambiguous without much detail for someone that is reading financial statements for the first time. This is probably an indiscretion on my part not theirs as they may be expecting those that read financial statements to have an more experience and or ability to interpret than I have right now. It does peak my interest in really getting into the ‘nitty gritty’ of this unit and being able to better interpret this. Ferrovial made a €460M profit in 2018 according to their website, though that is not what I get from the financial statements, I am reading the profit and loss statement for 2018 that is showing consolidated loss of €391M? I have a few questions around this, am I reading this wrong?  What are “loans to associates” showing on the balance sheets along with ‘restricted cash relating to infrastructure projects and other financial assets”. What are these, are the terms more clearly defined in the footnotes? Are they using footnotes to hide anything?

This company overall is very successful with not only finances, but being recognized for what they achieve including 2019 Best Airport West Europe (Heathrow), World’s Best Shopping Airport, World’s Top Airport Terminal, T5 they built and now part owners of Heathrow Airport. For the 9th consecutive year they have received an “A” rating for their work in reducing emissions, mitigating risks of climate change and supporting low carbon economy.  This “A” is the highest available rating.

Ferrovial has made the news for a couple of items that stand out, they have decided they will move their HQ from UK to Amsterdam due to Brexit to keep their holdings under EU legislation. The second is the subsidiary, Amey, that is held for sale due to losses suffered and to narrow their focus on transport infrastructure.

1, 2, 3 ready, set, let’s go!

Yep, this is a new one for me, FIRST ever Blog!

I am so excited to start my education journey, I completed year 12 in 1993, commenced into Bachelor of Business in 2002 with two very small children, life got in the way and I withdrew from this course.. However, I am back, I am older, wiser and childfree! Yes, they have all grown up and moved on to their own adult lives!

Most recently I have been working in Employment Services for the last 12 years and want more for myself now, I have always been interested in numbers and my current role allows for managing budgets, expenses etc, but I want more!!! And here I am, go figure!

I look forward to sharing in all your journey’s and also sharing mine with you.