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  1. OTHER INFORMATION
  2. ADDITIONAL INFORMATION

ADDITIONAL INFORMATION

Share price performance

  • Capitalization
    FER12,029million €
  • Share performance FER+22%en 2014
 

This chart shows the percentage variations, both for the company and indices. It shows the Total Shareholder Return, including dividend yield.

price summary 2014

2014
Price as of December 31, 2014 (in €) 16.43
Maximum price: Jan.-Dec. 2014 16.72
Minimum price: Jan.-Dec. 2015 13.34
Stock Market capitalization (in millions of euro) 12,029
Weighted average price in 2014 15.06
Average daily volume in number of shares 2,720,462
Performance vs. benchmark indices

 1 year 3 years5 years
Ferrovial 22%  118%  185%
IBEX-35 9%  43%  15%
Eurostoxx-50 4%  49%  25%
Madrid, Basic Mat. and Construction 9%  25%  -1%
Eurostoxx- Construction & Materials 2%  54%  22%
Data adjusted for dividends in all cases except the Madrid, Construction and Materials index. 

Shareholder return (million €)

Ferrovial is committed to a shareholder remuneration policy that allows the company to retain its corporate rating and maximize shareholder value. 

 

In line with policies followed by national and international companies, Ferrovial offers its shareholders an alternative form of remuneration from the Company, a scrip dividend. While they may still receive their total annual return in cash, shareholders may also receive Company stock with all the tax rules applicable to paid-up shares.

On June 26, the Annual General Meeting agreed to replace the traditional final dividend for financial year 2013 with this new return system; € 0.291 per share were paid in July 2014. 44.32% of free allocation right holders chose to receive new Ferrovial shares.

Also approved at the AGM, the second “Ferrovial Scrip Dividend” program was implemented in November (2014 interim dividend), representing a € 0.381/share return. On this occasion, the holders of 44.55% of free allocation rights chose to receive new Ferrovial shares. As part of its shareholder remuneration strategy, the Company also acquired 15,067,543 of its own shares in 2014 for subsequent cancelation.

  • BBB S&P 
  • BBBFitch

 In July 2014, the rating agency Fitch upgraded the corporate credit rating for Ferrovial, S.A. from “BBB-” to “BBB”, with stable outlook. 

Subscribed capital stock and shareholding structure

The capital stock of € 146,477,834.80 is currently subscribed and paid up. It comprises 732,389,174 single class ordinary shares with a nominal value of twenty euro cents (€ 0.20) each.

As of December 31, 2014, Karlovy, S.L. owned a stake of 41.118% in the capital stock of Ferrovial, S.A. (directly, 0.002% and indirectly, through Portman Baela, S.L., 41.116%). The Controlling Company’s shares are traded on the Continuous Market (SIBE) and Spanish stock markets, with equal voting and economic rights.

As of December 31, 2014, the company’s share premium amounts to 1,202 million euros and the merger premium, from the merger between Grupo Ferrovial S.A. and Cintra in 2009, has a balance of 1,215 million euros.

Shareholding structure

  • Controlling shareholder: 43.01%
  • Free float: 57.0%

Controlling Company shares are traded on the Continuous Market (SIBE) and Spanish stock markets, with equal voting and economic rights.

Ferrovial valuation by region *

  • International: 83%
  • Spain: 17%

* Based on the valuation of Ferrovial fundamental analysts as of December 31, 2014, published in the last 90 days.

Treasury stock/Share repurchase program

Listed below are the main treasury stock operations carried out by the company in 2014.

I. Operation carried out/Target Number of shares % capital Nominal (M€) Amount paid(M€)Number of shares applied to the target Total number of shares 31.12.2014
Purchase of treasury stock for subsequent capital reduction through repayment approved by the Annual General Meeting held on June 26 15,067,543 2.05 3.01 235 M -15,067,543 -
Purchase of treasury stock to honor the scheme for remuneration through delivery of shares 3,583,801 0.49 0.72 56 M -3,583,801 -
Shares received as scrip dividend payment (*) 245,821 0.03 0.05 -   245,821
II. CLOSING BALANCE DEC. 31 2014           245.821
(*) Shares received as scrip dividend payment for the treasury stock held by the company at the time of dividend payout.
The market value of the treasury stock at the close of 2014 amounts to € 4 M.

Average payment period

Reporting obligation set out in additional provision 3 of Act 15/2010 in relation to payment to suppliers

In compliance with the obligation to disclose the "average period of payment to suppliers" provided for in Additional Provision Three of Law 15/2010 (as amended by Law 31/2014), the Company hereby discloses that the average period of payment to suppliers of all the Group companies domiciled in Spain in 2014 was 53 days.

At the date of preparation of these Annual Financial Statements, and having not issued the Institute of Accounting and Audit the resolution required in paragraph 4 of the Additional Provision Three of Law 15/2010, for developing the methodology for calculating the average payment period, for the purposes of this calculation there have been considered the days since the date of issuance of the invoice and the payment date, without discounting any management days that usually goes by between the receipt of the invoice and its accounting record.

Post-year-end events

On January 24, 2015, the Catalan Government notified Autema of its intention to amend the concession framework for the project, established under Decree 137/1999. The reason for said amendment is explained in note 34 of the annual consolidated financial statements.