Madrid, June 15 (EFECOM).- This June 16, Ferrovial celebrates its first anniversary of being domiciled in the Netherlands, a controversial move that caused strong rejection within the Government and was accompanied by its jump to the Amsterdam Stock Exchange, where During this time it has had a very discreet negotiation.
The group chaired by Rafael del Pino announced at the end of February of last year its intention to move its headquarters from Spain to the Netherlands, where it would begin to be listed on the stock market, as a prior step to doing so on the New York stock market, the main objective. of the group founded in Madrid in 1952.
The operation was carried out through a merger that involved the absorption of the group’s parent company, Ferrovial, by its subsidiary Ferrovial International (FISE). With it, the group’s social and commercial name became Ferrovial SE.
During its transfer, which coincided with the regional and municipal elections, Ferrovial came face to face with the Government, which tried to get the group to abandon its plans (for which it saw no economic justification) and opt to go public. from New York without having to move its Spanish headquarters.
In fact, President Pedro Sánchez accused Del Pino of not being a businessman committed to his country and of seeking tax benefits with his transfer.
After the exchange of accusations and Ferrovial’s insistence on choosing to move its headquarters to the Netherlands to facilitate its listing in the US, as it defended that it was the known and safest path, it was finally the shareholders who On April 13, they endorsed the company’s relocation plans with a large majority.
The group, with more than 24,800 employees, paid a total of 305 million euros in taxes in Spain in 2023 (both on profits and others derived from its activity, as well as collected and paid on behalf of third parties), which represents 8%. more than in 2022. Specifically, the group paid 152 million in direct taxes (on profits and others), 20.6% more than a year before, only surpassed by the United States, where they paid 208 million.
Since its debut on the Dutch stock market, where it jumped to 29.98 euros, Ferrovial’s shares have appreciated nearly 21%, although the trading volume has been very small.
Eleven months later, on May 9 of this year, Ferrovial debuted on the US stock market, becoming the first IBEX 35 company to be listed on Wall Street with its ordinary shares and not with the ADRs used by Spanish groups such as Santander, BBVA or Inditex.
For more than a month, Ferrovial has been listed in three markets at the same time (Spain, the Netherlands and the United States), although it cannot be ruled out that the group will opt to list only in New York and the IBEX 35 in the future.
With its jump on the Nasdaq, where it rose to $47.2, the group wants to enhance its ability to attract new international investors and achieve greater liquidity and resources with which to face new infrastructure projects in the United States, the star market. of the company and on which it focuses all its investment efforts.
The group has been present in the United States for more than 20 years and operates assets in Texas, Virginia and North Carolina, in addition to developing the new terminal 1 at JFK airport in New York.
Ferrovial expects dividends of 2.2 billion euros from its current asset portfolio (excluding Heathrow) between 2024, when its current strategic plan ends, and 2026, and the distribution to its shareholders of 1.7 billion in said period. EFECOM
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