FER · FER Q2 FY2026 earnings call record财报电话会记录

“The traffic grew by 1.8% in the first half of the year, driven by targeted commercial promotions.”

“Looking at each of the assets, at NT, traffic was impacted by the capacity improvement construction works and declined 0.6% in the second quarter and 2% in the first half of the year.”

“A favorable traffic mix with higher heavy vehicles volumes, thanks mostly to technology enhancements in camera recognition that started to be implemented in 2025, which improved vehicle classification, as well as higher number of mandatory mode events at NT and NTE 35 West.”

“Revenue per transaction grew by 8.7% in the first half of the year, and total revenue increased by 17.9%, driven by higher toll rates, with Adjusted EBITDA up 20.4%.”

“In terms of dividends, I-66 distributed $80 million at 100% level.”

“However, adjusted EBITDA declined by 5.4% compared to first half of 2025, negatively impacted by the step-up in revenue share band from 25% to 50%.”

“At Dalaman Airport, the first half of the year was impacted by the Middle East conflict, resulting in total passengers of 1.8 million, showing a decline of 8.1% compared to the first half of 2025, mainly international passengers.”

“In terms of cash dividend and treasury share purchases, we have EUR 398 million, and here, EUR 98 million was from the cash dividend, and the rest, the EUR 300 million, is share purchases in the buyback programs that we have since December 2025.”

“You commented, yes, we saw some improvement in traffic in the last quarter, thanks to two of the segments, note, that are feeding the LBJ, and at the 635, we're almost finished.”

“In the future, well, as you know, we don't give guidance, but increasing prices will depend on the value that we see that the 407 has for the customers, and we'll try to capture as much as we can of this value.”

“How much of traffic is without promotions and how much are the promotion volumes?”

“With this slightly more traffic, what we have been able is to reduce significantly the Schedule 22 payments because we have targeted better for those users that are helping to reduce the Schedule 22 payment.”