Earnings Labs

Ferrovial SE (FER)

Q3 2020 Earnings Call· Thu, Nov 5, 2020

$67.70

-0.03%

Key Takeaways · AI generated
AI summary not yet generated for this transcript. Generation in progress for older transcripts; check back soon, or browse the full transcript below.

Same-Day

+2.16%

1 Week

+20.14%

1 Month

+23.51%

vs S&P

+17.82%

Transcript

Transcript

Operator

Begoña Morenés: Good afternoon, everybody and welcome to Ferrovial’s conference call to discuss the financial results for the first 9 months of 2020. Just as a reminder, both the results report and presentation are available to you on our website. A couple of highlights on today’s results. Today’s results are not a set of interim accounts as per IAS 34. 9 months financial information included in our report has been impacted by the COVID-19 outbreak, mainly since the second half of March. At this stage, given the uncertainty about this speed and extent of the resumption in activity, it is not possible to predict how the health crisis will affect Ferrovial Group’s 2020 financial statements, especially in relation to impairment test of assets, fair value of discontinued activities or provisions for onerous contract. Ferrovial will continue to monitor closely trading conditions and further evidence on wider economic impacts from the COVID-19 pandemic, and we’ll update the market on these impacts accordingly. I am joined here today by Ernesto López Mozo, our CFO as well as the CFOs of our business divisions. If you have any questions, you may ask them through the form included in the webcast. During the Q&A session, at the end of this call, we will be reading out your questions and who they are from. With this, I will hand over to Ernesto, who will be leading this conference call. Ernesto, the floor is yours. Ernesto López Mozo: Well, thanks, Begoña, and thank you, everybody, for attending our conference call. Starting with the highlights for the first 9 months, I would like to go directly to the strong financial position that we achieved at the end of the first 9 months. This net cash ex infrastructure of €1.7 billion is higher than the closing figure of…