March 26, 2020 / 6:31 AM / 15 days ago

BRIEF-Ferrovial Reports On the Impact Of Covid-19 On Its Businesses

March 26 (Reuters) - Ferrovial SA:

* SAID ON WEDNESDAY THE COVID 19 PANDEMIC HAS STARTED TO SHOW ITS IMPACT ON FERROVIAL’S ACTIVITIES, WITH A DIFFERENT DEGREE DEPENDING ON THE BUSINESS LINE

* IN TOLL ROADS, FOLLOWING A STRONG START TO 2020, TRAFFIC LEVELS HAVE BEGUN TO SUFFER AS CONFINEMENT MEASURES EXTEND ACROSS EUROPE AND NORTH AMERICA, WITH HIGHER IMPACT IN LIGHT VEHICLES

* EXPECTS TRAFFIC TO REMAIN SUBDUED WHILE THE CURRENT SITUATION REMAINS

* UK AIRPORT BUSINESS HAS ALSO BEEN STRONGLY IMPACTED BY THE COVID 19 WITH HEATHROW AIRPORT TO SEE A REDUCTION IN OPEX AND EXECUTIVE PAY, FREEZING OF RECRUITMENT AND A REVIEW OF CAPITAL PROJECTS

* ABERDEEN, GLASGOW AND SOUTHAMPTON AIRPORTS (AGS) HAVE ALREADY SEEN A STRONG IMPACT IN THEIR TRAFFIC LEVELS, WITH PASSENGER FIGURES MATERIALLY REDUCING SINCE THE BEGINNING OF THE YEAR AND VERSUS LAST YEAR

* THERE ARE NO DIVIDENDS EXPECTED FROM ABERDEEN, GLASGOW AND SOUTHAMPTON AIRPORTS DURING 2020

* CONSTRUCTION BUSINESS COULD SEE WIDESPREAD SLOWDOWNS OR STOPPAGE IN THE PROJECTS

* REMAINS COMMITTED TO FULL DIVESTMENT OF SERVICES BUSINESS BUT EXPECTS DELAYS IN THE PROCESS GIVEN THE MACROECONOMIC UNCERTAINTY, EXCEPT FOR THE CLOSING OF THE BROADSPECTRUM SALE THAT IS EXPECTED TO CLOSE BEFORE THE END OF Q3

Source text: bit.ly/2UjpYlz

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