Ferrovial SE
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2025 · Filed Feb 25, 2026
Contents
1.5 SEGMENT REPORTING
For management purposes, the Group is organized into business units based on its activities and services and hasfour reportable segments, as follows (Note 1.1.2):
Construction, which undertakes the design and build of all sorts of public and private works, including most notably the construction of public infrastructures.
Highways, which carries out the development, financing and operation of highways.
Airports, which is engaged in developing, financing and operating airports.
Energy, which focuses on innovative solutions for the promotion, construction and operation of energy generation and transmission infrastructures.
No operating segments have been aggregated to form the above reportable operating segments.
The global Chief Executive Officer is the Chief Operating Decision Maker (CODM) and monitors the operating results of its business units separately for the purpose of making decisions on resource allocation and performance assessment. Segment performance is evaluated based on profit or loss and is measured consistently with profit or loss in the consolidated financial statements. Furthermore, information reported to the market is also broken down into the above four segments.
The income statement is shown below by segment for 2025, 2024 and 2023. The “Other” column includes the income and/or expenses of companies not assigned to any of the business segments, including most notably the parent company Ferrovial SE and its other businesses, such as the waste treatment plants in UK, the mining services in Chile (divested in June 2025) and the new activity started by the group in 2024 related to the development of data centers called Digital Infrastructure. The “Adjustments” column reflects inter-segment consolidation eliminations.
As can be seen in the following tables, Construction and Highways revenues account for more than 10% of the Group’s consolidated revenue (IFRS8 p.13). The Airports segment is also a significant area of activity for Ferrovial, as well as the Energy segment, a relatively new business area where the Group has future growth plans in place, andtherefore, they are both disclosed as reporting segments. The CEO assesses its performance separately basedon an income statement measured consistently with profit or loss in the consolidated financial statements and with a similar presentation.
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