Ferrovial - Annual Report 2010

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The industrial construction division carries out water treatment and environmental projects and is currently seeking to expand in the field of energy. Cadagua has a long tradition in water-treatment plant engineering and construction and is the Spanish market leader with recognized international prestige in seawater desalination plants.

In 2010 Cadagua recorded revenue of 141.6 million euro with an order backlog at the close of the year totaling 509.8 million. The company has a high level of profitability, with a net operating margin of 6.0%.

It continued its major progress in international markets by boosting its local offices in the Middle East (Dubai), India and Poland, creating a new local office in Mexico and submitting bids in these markets, as well as in others such as Ireland, Oman, the United Kingdom, Portugal and Chile.

In 2010 most new Cadagua contracts were in international markets, given the fall in public sector tenders in Spain. New contracts abroad in 2010 included a desalination plant in Cyprus (28 million euro in a 50% joint venture), a country where Cadagua has been awarded contracts for 5 water treatment plants in all; and the first contract awarded to Cadagua in India for the construction and operation of a water treatment plant (36 million euro in a joint venture 40% held by Cadagua). It won two contracts in the difficult Middle East market: the water treatment plant in Darsait, Oman (49 million euro in a 50% joint venture for Cadagua), and the Al Zawra desalination plant (37 million euro in a 56% joint venture for Cadagua).

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This is an electronic version of the 2010 Annual Report prepared by Ferrovial S.A. for its stakeholders, which aims to be complete and accurate. The contents of this version can be checked by referring to the print version. A copy of the print version in PDF format is available to download on this web page