Ernesto Mozo on dividends
From Ferrovial | Resultados Anuales 2018 - Ernesto López Mozo · · Ferrovial
“The dividends we have received from projects in infrastructure and services exceed €600 million, which is positive for the future, and expected dividends from projects like NorthStar starting in 2019 and the LBJ in 2020 have encouraged us to allocate more capital to infrastructure and exit services.”
On , Ernesto Mozo, Chief Financial Officer at Ferrovial SE, spoke about dividends during Ferrovial | Resultados Anuales 2018 - Ernesto López Mozo on Ferrovial.
About Ernesto Mozo
Ernesto López Mozo, Chief Financial Officer of Ferrovial, has presented the company's financial results in several video updates covering periods from 2012 through early 2022. In his most recent appearances, he discussed first-quarter 2022 operational results, noting that all of Ferrovial's infrastructure assets posted growth in traffic, revenues, and EBITDA compared to the prior year. He stated that U.S. toll roads NTE and I-35 West showed traffic "quite beyond pre-pandemic levels," while the LBJ was still catching up. He attributed revenue growth partly to inflation and the company's ability to adapt tariffs. Regarding the 407 ETR in Toronto, he said traffic remained below pre-pandemic levels due to a slow return to office work, with office occupancy around 20 percent. In construction, he cited headwinds from material inflation and supply disruptions, with a margin of 0.8 percent. He also noted that Heathrow had updated its traffic forecast upward, though uncertainties from the war in Ukraine remained. In earlier presentations, López Mozo discussed Ferrovial's decision to sell its services division, which was reported as discontinued operations starting in 2018. He explained that the company was reallocating capital toward infrastructure concessions, where he said value creation prospects were higher. He highlighted strong dividend flows from infrastructure assets and pointed to expected dividends from projects such as NorthStar in Texas beginning in 2019 and the LBJ in 2020. In 2019 results, he noted that the services division's carrying value in the UK was reduced due to the macroeconomic environment and a dispute over the Birmingham maintenance contract. Across multiple years, he emphasized growth in U.S. toll road traffic and revenue, Heathrow passenger numbers and satisfaction, and cash generation from infrastructure assets.