Management report > Ferrovial in 2015
Ferrovial in 2015 For further information about “Business Performance” please download the PDF


Operational excellence and innovation as pillars of Ferrovial's strategy and value creation differential would not be possible without a team that is characterized by their talent and commitment to these goals. Furthermore, the internationalization of the company needs talent to be brought wherever Ferrovial capabilities are keys to success.


Ferrovial offers its employees a project that encourages them to excel every day and differentiated learning in decision-making and assuming controlled risks.


In turn the company fosters a reliable and collaborative work environment that is valued by copporate reponsibility analysts and recognized in the most prestigious indices such as the Dow Jones Sustainability Index and awarded with the Top Employers certification.


Differential Learning: Total investment in training involves 0.22% of Ferrovial's total revenue, which represents an investment per employee of close to 300 euros and an average of 22 hours per employee. Created in 2007, the Ferrovial Corporate University has since become a center of excellence for placing value on key competencies such as the focus on results and the internationalization of the business. More than 4,000 participants passed through its doors in 2015, 15% of which came from outside Spain.


Development plan: Ferrovial offers a professional development plan that guarantees equal opportunity based on merit.


Quality of leadership: The company assures leadership continuity with succession planning. 284 successors have been identified to cover 139 critical positions defining a coverage ratio that is higher than 2. The processes for identifying talent have 960 participants.


Collaborative Culture: Ferrovial develops tools for sharing information and recognizing people who want to contribute and learn to be internal models. 96% of employees declare to understand how their work contributes to achieving the organization's objectives.They all share their knowledge through the internal social network called Coffee (Collaboration for Ferrovial Employees), reaching 995,783 visits in 2015.


Ferrovial seeks to measure and increase the level of commitment to achieve the best professional performance for promoting talent mobility to have the best professionals in the areas and projects required by the company responding to the priorities of the business and the people making it up.

Employee Satisfaction Survey: According to the latest employee satisfaction survey, 84% of employees are committed to the organization, and 91% are willing to make an extra effort to achieve the company's objectives. This commitment moves within the organization with 319 assignments in 21 countries. The participation rate was 67%.

  Positive answers % points difference compared to 2013
Commitment 84% +3
Management Style 78% +3
Communication and Internal Relations 78% +2
Customer focus 72% +1
Organization 72% 0

A model employer: For the fifth consecutive year, Ferrovial has been identified as a Top Employer In Spain



Employee remuneration policy


One factor of Ferrovial's commitment to its employees and retaining talent is reflected in its remuneration policies that are established according to criteria based on competitiveness in the relevant markets in which it operates. These polices include:


The variable remuneration system covers 20% of the workforce, and if the perimeter affecting structural personnel, i.e. staff not linked to contracts, is considered, this would account for 100% of the workforce.


Ferrovial believes that the current annual variable remuneration system is appropriate for the company's goals. These indicators are linked to performance and the achievement of specific financial, industrial and operational targets, which are pre-established, quantifiable and coherent with the company's strategy.


Ferrovial offers a Flexible Remuneration Plan, under which an employee's existing remuneration package can be voluntarily amended in accordance with personal needs, replacing a proportion of their remuneration with certain products in order to optimize cash flow, supporting the provision of certain services via the company, potentially at more competitive prices thanks to the company's size.

In addition, work has been ongoing during the year on the remuneration plans paid in shares. This remuneration package pays a proportion of variable remuneration in company stock.


Ferrovial has a long-term variable remuneration system consisting of share-based remuneration plans for 339 executives and managers in the company. In order to be eligible, they must remain in the company for a specified period (currently three years) and certain objectives must be fulfilled that are linked to internal or external metrics reflecting economic and financial objectives and/or value creation for the company. Each metric has an associated level of achievement that establishes a minimum performance threshold, below which no incentive is paid, and a maximum.


Current plans for these metrics are:

  • EBITDA of net productive assets (2013 and 2016 plans);
  • Cash flow (2013 plan);
  • Total Shareholder Return (TSR) compared to a group of 17 companies (2013 and 2016 plans);
  • The comparison group is composed of leading national and international competitors.

Contribution to value creation

Safety is a key factor in achieving operational excellence. Ferrovial works every day to create environments that are risk free for everyone, including users of infrastructure and services. There are two principles that govern the actions in this area: the objective of "Target Zero" and that any accident can be avoided.

Target Zero

In July 2015 the Ferrovial Board of Directors updated its corporate Occupational Health and Safety policy, which concerns all company activities globally, including all business areas and their subsidiaries.

This policy seeks to "create environments that are free from risks for everyone, every day," guided by the conviction that any accident can be avoided. This vision actually setsa desired goal of "Target Zero", to which all executives and the more than 71,000 employees of the company are committed.

The purpose of creating a totally risk free environment also includes infrastructure users and citizens who interact with workspaces, safeguarding the public from any exposure to risks arising from Ferrovial's activities.

The main lines of action are set out below:

Proper organization, at the highest executive level

The highest executive level of Ferrovial oversees functions and responsibilities for health and safety, for which it has created the figure of a corporate director who reports directly to a member of the Management Committee. For every area, the person responsible is part of the respective Business Committee.

Implementation of management systems in all business lines

Ferrovial is committed to the progressive extension of standardized management systems. At present they are implemented and verified by third parties in different countries and business areas of Ferrovial.

A strict system of inspection and monitoring in the workplace

The conditions of all Ferrovial work centers are subject to a thorough monitoring by the Health and Safety department in every business and subsidiaries of the company in the world. The company has sufficient resources in order to maintain a good level of monitoring and control over safety conditions in the workplace. During 2015 a total of 53,610 health and safety inspections and audits were conducted in its workplaces.

iAuditor in "Amey" (UK): Identified as an innovative solution, Amey implemented iAuditor as part of its "Target Zero" objectives. Iauditor is a simple and efficient tool to design custom inspection formats.

It allows inspection reports to be written in real time, which significantly reduces administrative procedures. The application rates questions by category and easily imports images for inspection criteria. Once completed, the report can be emailed as a PDF or Microsoft file and sent to both specific recipients or recipient lists.

The results are loaded into Airweb, the Amey reporting system. Actions are then supervised to ensure they are adequately closed. The consistency of reports makes it possible to identify trends faster.

Since the implementation of iAuditor the number of inspections has almost tripled, leading to greater control of the formats for any updates that are required in case of future changes in legislation and/or standards adhered to.

The company also conducted a detailed investigation not only of the accidents that took place but also of those near misses that have not yet incurred any personal injury, and can serve to learn lessons to avoid future accidents.

Implementation of minimum safety standards

Some minimum security requirements apply in the Construction area in all works in all countries. Following this philosophy, safety requirements will be defined at group level which will be applied n all workplaces in all business areas.

Training aimed at workers' engagement 

Ferrovial has spent years increasing its training efforts on occupational health and safety to progressively engage workers in the common goal of creating workplaces free of hazards.

SAFE: The SAFE (Safety Awareness for Employees Ferrovial) pilot project that has been implemented successfully in various Ferrovial Agroman projects seeks to involve all employees in improving health and safety.

It affects executives, who demonstrate leadership in safety through specific safety leadership visits, middle managers, who are appointed leaders and make SAFE observations as well as manual workers, who based on their experience in the workplace, conduct proposals for improvement in working conditions and/or implemented safety measures.

These situations detected, along with those identified in the inspections carried out by the health and safety department, are jointly analyzed by the site manager, security leaders and health and safety officer assigned to work at the weekly SAFE meetings where actions to be implemented to improve the security of the work are defined.

Occupational Road Safety Plan

In September 2015 Ferrovial signed a collaboration agreement with the Spanish Foundation for Traffic Safety (Fesvial), to minimize "in itinere" and "in mission" accidents. Fesvial is a benchmark in Spain in the area of road safety; trustees of the Foundation include the Ministries of Interior, Employment and Health of Spain and Madrid City Council. In the first phase, this collaboration has resulted in the development of a Road Safety Plan to develop a framework of Safe and Sustainable Mobility for Ferrovial employees.

Commitment to innovation

Ferrovial is convinced that new standards for performance, technology and safety measures can be developed through innovation that contribute to the aspirational goal of "Target Zero". Among the main priorities in innovation, discussed in the next chapter of this report, is the application of technologies in the area of health and safety.

Health and Safety Global Meeting: in 2015 Ferrovial held the first edition of the H&S Global Meeting at the headquarters of its corporate university. This event brought together employees worldwide with responsibilities in managing occupational health and safety. The meeting served to discuss updating the Health and Safety policy for the entire company, pooling the projects being developed, highlighting examples of good practice and analyzing the measurement of results..

Contribution to value creation

Ferrovial is committed to minimizing risks and maximizing controls to ensure that Human Rights are respected throughout the organization and its supply chain.

In 2014 Ferrovial approved its Human Rights Policy in order to raise awareness of these issues throughout the company, while senior management ensures compliance. This policy is coherent with the Code of Business Ethics, the principles of the United Nations Global Compact, the Universal Declaration of Human Rights, the OECD Guidelines for Multinational Enterprises and the International Labor Organization (ILO) regulations.

The Code of Business Ethics provides that "all actions undertaken by the company and its employees shall scrupulously respect the Human Rights and Civil Liberties enshrined in the Universal Declaration of Human Rights."

As a signatory of the Global Compact, Ferrovial is committed to supporting and respecting the protection of fundamental rights such as freedom of association and collective bargaining, elimination of forced or compulsory labor, eradication of child labor and the abolition of discrimination.

Ferrovial is involved in the new National Plan for Business and Human Rights, which came into force in 2014, seeking to establish a series of human rights measures, policies, processes and controls that should be adopted by companies.

Minimize risks

The company performs thorough checks to ensure respect for human rights throughout the value chain.

Responsible management of the supply chain

The company promotes among its providers adherence and compliance with the Global Compact Principles, as well as other corporate responsibility principles: Health and Safety, Quality and the Environment.

Risk management

The global corporate risk management system (Ferrovial Risk Management, FRM) covers risks derived from human rights violations. The area of risks includes those resulting from improper or poor functioning of the procedures to ensure the ethical principles governing the company’s relationship with its employees.

Maximize controls

Labor unions and collective bargaining

In each country where it operates Ferrovial guarantees workers’ rights, such as the right to strike, freedom of association and the right to collective bargaining by appointed workers’ representatives and unions. Virtually all Ferrovial employees are protected by collective labor regulations in different countries and 93% of the workforce is attached to collective agreements.

One noteworthy aspect is the framework agreement signed with the International Federation of Building and Wood Workers, FECOMA (Federación de Construcción, Madera y Afines) and MCA (Madera, Construcción y Afines) with around 350 labor unions representing around 12 million members in 135 countries. This is an agreement to respect and promote the principles enshrined in the Universal Declaration of Human Rights, the ILO Tripartite Declaration, the OECD guidelines for multinational companies and the United Nations' Global Compact.

Equality and non-discrimination

As a business, social and legal principle, Ferrovial is a supporter of diversity and complies with current legislation on equal opportunities.

Commitment to disadvantaged groups

The company has signed several agreements with Adecco Foundation, Family Plan and Integra Foundation, among others, for the integration of people with disabilities who face the risk of social exclusion.

The fact Ferrovial joined the Business Network for a Society Free of Gender Violence reinforces the company's commitment to raise awareness and promote the employment of women who are victims of abuse.

Workplace Harassment: In 2015 the company updated its Procedure for the Prevention of Workplace Bullying, Sexual Harassment and/or Gender-based Harassment. The approach is founded on the Code of Business Ethics and also draws on the stipulations of Organic Law 3/2007, passed by the Spanish government on March 22, 2007, to guarantee effective equality between men and women, and to protect employees from potential situations of gender-based harassment in the workplace. This procedure guarantees the right to the privacy and confidentiality of the subjects discussed and the persons involved.

Training and awareness

Ferrovial is committed to raising awareness within its sphere of influence, as well as promoting knowledge and good practices. All Code of Ethics courses at executive and management level include a module on Human Rights.

An on-line training course on the Code of Ethics was introduced in 2010. So far, 11,289 training hours have been given on the subject to 4,282 employees. Ferrovial capitalizes on its involvement in international forums and training programs to raise awareness of the need for the private sector to take a role in the protection of human rights. Evidence of this was the appointment of Ferrovial as the Secretary of the Executive Committee of Forética in 2012 and its involvement on the Executive Committee of the Global Compact Network.

Contribution to value creation

Innovation is a key driver of the company to meet the challenges of society and the needs of customers, in its commitment to operational efficiency and the search for competitive and differentiating solutions in the priority areas of research.


Toll Roads

The main business lines include the optimization of traffic models, new payment methods, models to relate to and offer services to users, and solutions that increase operational effectiveness.

Big Data for traffic models: It is a project that involves building models based on telephone data and positioning, in order to make more accurate traffic predictions. It will be useful in tendering processes and to know more about users' mobility needs.


Projects are developed to meet the needs of the cities of the future. They are aimed at cutting costs and improving the quality of life of the population, by guaranteeing sustainable economic development.

Urban laboratory projects have been started up in several cities, like in Madrid, Santander (Spain) and Sheffield (United Kingdom). These projects have promoted cutting-edge solutions such as "Madrid  Smart Parking", "Revive" and "The Urban Solutions Project", to improve urban mobility in a more sustainable and efficient way.

In 2015, Ferrovial Services was a Global Partner of the Barcelona Smart City Expo World Congress and joined the Smart City Sectorial Forum in Spain, and the All-Party Parliamentary Group for Smart Cities, in the United Kingdom.

Energy Efficiency

With the aim of reducing greenhouse gas emissions, helping to reduce energy costs and anticipating future regulations, projects are being developed in energy efficiency maintenance, monitoring, auditing and optimization for buildings, reducing power consumption in public lighting, and expert energy management systems.

Light for GLASS: The project uses Google Glass, Google's electronic glasses, for infrastructure maintenance, in order to optimize client and citizen satisfaction. This project is being implemented in the lighting contract in Torrejón de Ardoz (Madrid), managed by Ferrovial Services.

Waste Recycling

In response to concerns regarding climate change and environmental sustainability, projects are underway to recover energy from waste, both as a partial substitute for conventional fossil fuels and as a solution to treat or eliminate the growing volumes of waste generated by the consumer society, as well as recovering materials from this waste.

All the plastic that citizens put in the bin is reused in the treatment plants managed by Ferrovial to be turned into raw materials to make new objects.

Circular Economy: Ferrovial uses many elements for its activities (like barriers, cones, tape and street furniture) made out of plastic that can be produced using recycled materials. Ferrovial Agroman and Ferrovial Services, together with two specialized companies, are developing a project to manufacture all these elements using their own recycled plastic for internal consumption.

Innovative Construction

Execution of projects that improve the productivity and environmental sustainability of construction activity in all of its areas.

WPP (Warning Presence of People): A project to stop accidents in tunnels, where the interaction between man and machine is more complex. It combines sensor technologies (wearable devices) with localization in confined areas to produce a system of proximity warnings and alerts.

e-Tunel: A project that is being implemented in the Padornelo tunnel in Spain, to measure air quality in tunnels in real time, with signals and alarms to prevent possible accidents caused by the inhalation of noxious gases. 


Energy and process optimization, both in the field of seawater desalination by reverse osmosis and in the purification of waste waters. For this, innovative technologies are incorporated and existing water treatment processes are improved, while new ones are developed.

Ferroaqua: A technology has been developed and implemented which improves the administration of water treatment plants, as it manages operational and water quality parameters in a centralized way and in real time.


Optimization of real-time integrated management of the various assets and resources through sensor technologies or portable devices (wearables), improving the passenger experience within the airport, as well as the development of new business models and services.

Insider Navigation: An augmented reality application for mobile devices that facilitates passenger movement within the airport right to the boarding gate, while also providing passengers with services and commercial offerings.

StandWatch: Solution that records snow removal work through wearable technology, using smart watches and cloud based services.

Contribution to value creation

Ferrovial is aware of its responsibility to address climate change and is firmly committed to reducing the environmental impact of all its activities. It also drives generating new ideas and business models, to offer its clients innovative solutions with a lower impact.

Reduction of environmental impact

Ferrovial's commitment to the environment has four priority objectives: 

Carbon Footprint Reduction 

Many of the company's activities are closely associated with some of the main man-made sources of carbon emissions. For Ferrovial it is key to know how to respond to the challenges and opportunities that climate change poses in the short, medium and long term. The company has therefore maintained ambitious emission reduction targets (21.3% for 2020 compared to 2009 levels) in relative terms against revenues (tCO2eq/€M), reductions that are comfortably achieved every year.

For 2015, a reduction of 11.61% was established in relative terms compared to the baseline year. This would mean maintaining Scope 1&2 emissions and energy and electricity consumption at the same level as in 2009, despite an increase of 13.1% in turnover. 

Thus, the 2015 target, in terms comparable to turnover, is to reduce scope 1&2 emissions in absolute terms by 93,698 tCO2eq against 2009, of which 81,508 tCO2eq and 12,190 tCO2eq would be scope 1 and 2 respectively.

To conclude, in 2015 the target was achieved, with emissions cut by 223,300 tCO2eq against the baseline year.

To meet this commitment, Ferrovial has developed and implemented action plans to reduce emissions, both general and specific to each business area:

  • Inclusion of energy efficiency criteria in purchasing and service subcontracting; purchase of electricity from certified renewable sources; use of less contaminating fuels; and more alternative vehicles.
  • Sustainable Mobility Strategy for Ferrovial employees. All corporate offices in Spain and the United Kingdom have mobility plans.
  • Improved energy efficiency in both industrial vehicle and passenger car fleets.
  • The development of technology and processes to optimize levels of emissions avoided.
  • Incorporation of energy efficiency measures in corporate office buildings.
  • Drive toward buying electricity from renewable sources. This has entailed that 100% of the electricity purchased by Amey comes from renewable sources.

Since 2009, base year, Ferrovial has reduced its emissions in relative terms by 43.70%, which is much higher than the goal set for 2020. In absolute terms it has reduced its emissions more than 28% compared to the base year.

For more information on Carbon Footprint, click here.

Monitoring water footprint

In 2015, the "Water Footprint" project was carried out to develop a methodology for the calculation and reporting of water consumption and associated discharge. In addition, risksand opportunities related to water were analyzed. The scope of this project covers all group companies on which it has operational control.

The methodology for calculating the Water Footprint is specific to Ferrovial and has been developed based on the principles of "The Water Footprint Assessment Manual" (WFM) and the "Global Water Tool" (GWT) and GRI-G4. These indices consider aspects such as water stress in the country, impact on water resources, impact on water quality and access to water. The impact on this resource is quantified in this way.

Ferrovial Water Footprint consists of three indices:

Business Water Index (BWI), related to water consumption and discharge carried out in Ferrovial activities.

Water Treatment Index (WTI), related to the impact water treatment activity (WWTP, Wastewater Treatment Plant; IWWTP, Industrial Wastewater Treatment Plant; DWTP, Drinking Water Treatment Plan; and SDP Seawater Desalinating Plant) has on the resource.

Water Access Index (WAI), related to water supply projects in Social Action program. 

It is currently being implemented and the first data will be obtained for 2016.

Biodiversity and Natural Capital

As part of the “Ferrovial, Natural Capital” program, the company carries out several biodiversity projects, aimed both at assessing and mitigating the impact on natural spaces or ecosystems that are affected by its activity, and also at anticipating market trends and, if applicable, making the most of any opportunities that arise.

In 2015 Ferrovial worked with several scientific institutions (Massachusetts Institute of Technology and Rey Juan Carlos University in Madrid) to develop a corporate methodology to measure the company's impact on biodiversity. The aim is to have a contrasted evaluation method in 2016 for all of the company's activities, which will serve as a tool when making decisions, incorporating the criterion of "No Net Loss of Biodiversity».

The company also continues to work in the area of ecological restoration of habitats affected by the construction and operation of its infrastructure. Ferrovial has been working with several scientific organizations for over a decade and this has enabled the company to gain solid knowledge in this field. Thanks to this, as part of the Spanish Companies and Biodiversity Initiative, the company is taking part in a public‑private partnership project with the Biodiversity Foundation and the Spanish Ministry of Agriculture, Food and the Environment.

As for emerging biodiversity markets, Ferrovial has explored various offsetting mechanisms that exist on the market, including the development of a pilot project in Spain that finished in 2015. Ferrovial is currently following the development of new legal frameworks in countries like Spain and the UK.

Ferrovial Agroman has had a specific procedure in place for several years that is used to quantitatively evaluate risks associated to protected areas or areas of high ecological value, and has been implementing measures to offset and control environmental impacts.

In 2015, Ferrovial worked on 21 projects which were under an Environmental Impact Statement (or equivalent figures), according to each country's legal framework. In 14 of these projects there were restrictions due to protected fauna; 19 were located in Protected Natural Areas; and 12 had high-quality watercourses nearby.

In 2015 the drafting of the Guide to buying wood in collaboration with the WWF (World Wildlife Fund) was completed. This guide presents a number of tools and methodologies to follow to ensure different levels of guarantee of origin offered by a product as well as information about the regulation around this raw material and its derivatives, wich is so sensitive from the point of view of sustainability.

Reducing the environmental impact caused by the activity 

A substantial increase was observed in the rate of recycled waste in comparable terms bur also in absolut terms, thanks to the increase of the reporting scope in the Construction division with seven new geographies. It maintains compliance with the objective of increasing the recycling rate of 5% per annum.


2015 2014 2013
Total (t) 1,071,021 540,289 97,840

Generation of new ideas and business models

The company leverages its participatory role in the most important global forums on climate change, energy transition and the loss of biodiversity to anticipate trends in these areas and identify new opportunities and business models.

In particular, it works to improve energy efficiency in buildings, intelligent management of cities, the challenges of the circular economy, biodiversity markets, mobility of low emissions, waste treatment and energy production from waste itself ("energy from waste"). Thus, new ideas are already generating business and sustainable value for Ferrovial, or will do so in the very near future.


Contribution to value creation

Ferrovial manages its purchases through a comprehensive policy, which maximizes operational efficiency in supplies by using new technologies. In parallel, the company requires its suppliers to be aligned with the company's principles in terms of safety and sustainability, in compliance with its Code of Business Ethics and Corporate Responsibility Policies.

Ferrovial has a Global Procurement Policy with mandatory principles that must be complied with before, during and after each purchase. Throughout the process the principle of integrity will take precedence, founded on the Code of Business Ethics and Corporate Responsibility policies, pursuing a long-time relationship with suppliers. In some businesses there are specific procurement policies that supplement and develop the corporate policies.

The Global Procurement Committee, headed up by Ferrovial's CIO (Chief Information Officer) and comprised of the purchasing heads for each business area, coordinates and controls the company's procurement. It aims to capitalize on synergies between businesses, generate savings, share good practices and improve global procurement.

Codes of ethics

All employees who purchase things or hire suppliers are bound by a Buyers' Code of Ethics that establishes general guidelines, pursuing rigorous, ethical and efficient relationships. This complements Ferrovial's Code of Business Ethics and is applicable to all staff working in the Purchasing Departments of said divisions, who are provided with due training and are required to comply with the same. The company includes a Corporate Responsibility Clause in contracts which establishes the following commitments from suppliers in this sense.

Ferrovial also controls and monitors its suppliers' quality. It considers several factors, such as product quality, occupational health and safety compliance and environmental conduct. An incident is deemed to have occurred when the average evaluation score fails to meet the requirements established in parameters. A “rejected supplier” is a supplier that incurs three incidents within a single year, or one serious incident.  


Classification of suppliers by corporate responsability

In 2012, as part of the goals of the Strategic Corporate Responsibility Plan, a system was introduced to classify high-risk suppliers in terms of corporate responsibility, based on product and country of origin, founded on the principles of the Global Compact and FTSE4Good standards.

The majority of purchases are made in countries like Spain, United Kinkdom, United States and Canada, or in countries with medium-high and high-income levels (according to the World Bank), like Poland. Periodical analyses in the company's businesses enable Ferrovial's supply chain to be classified as having a low risk.

In major international construction projects the risk arising from subcontracting is limited in a large number of suppliers by means of joint ventures with local partners.

Fuel, Energy and Vehicles

The company has expanded its electric and hybrid vehicle fleet in order to optimize fuel consumption, and this in turn has enabled it to reduce expenses.

In the field of energy, the company tries to purchase renewable energy and include energy efficiency measures to reduce consumption. Traditional fuel, such as diesel, is also being replaced with less contaminating natural gas.

As for vehicles, those with a lower consumption and lower emissions are sought in the bidding documents for fleet leasing. In collaboration with the Competence Center for Cities and the businesses' Innovation Centers, work is being carried out on adapting heavy vehicles to be hybrid and electric.

Technological Innovation

Innovation and technology are key players in the improvement of the supply chain. In this sense, tools have been developed in Construction and Services for the global management of suppliers and purchases, quality monitoring and order centralization. Construction has started using a program called Insite, while Services has an automated system where, based on the product category or its price, the orders are centralized in the Procurement Department or placed with suppliers with framework agreements negotiated previously.

Construction is finalizing the implementation of its international Insite program, while Services, which already has its own tool in the United Kingdom, has started to implement it in Portugal.

Contribution to value creation

Operational excellence requires the highest quality, so Ferrovial certifies all its activities through management systems in accordance with international quality and environment standards respectively and establishes effective processes of customer service and response.

Certified activities

The contracts executed by all Ferrovial's business areas include quality and environment systems. These systems are mainly certified to ISO 9001 and 14001 standards. In 2015 the percentage of activities run with quality and environmental certifications stood at 91% and 90% respectively. All contracts that are not included under certified systems are governed by quality and environment systems.

All systems are internally audited by teams of qualified auditors. There have been 1,895 internal quality and environment audits (42% more than the previous year) and 7,480 production sites were audited, more than double that in 2014. The advisory visits to implement management systems and technical consultations totaled 2,330.

Ferrovial uses these IT platforms and internal procedures to help its line personnel, managers and decisors to have access to and know about all current legislation and regulations. These platforms reach all the phases of the lifecycle of infrastructure and services developed and managed by Ferrovial, including all the aspects relating to quality, environment and safety.

The Normateca platform currently manages a total of 21,392 technical regulations in the fields of safety, quality and environment, with 511 new regulations being updated every year. Ambienteca, however, has a total of 1,935 legal provisions, of which 19 were incorporated over the last year.

There are also other certified systems in compliance with different regulations, like the following:

  • Standard ISAE 3410 “Assurance Engagements on GHG Statements".
  • “Integrated Management System PAS 99” and “Specification PAS for composted materials and Quality Compost”.
  • UNE-EN 12899-1:2009; UNE 135332:2005; UNE 166002; UNE 179002; ISO 50001:2011; ISO 22000, ISO 39001, BS 1100, AQAP 2110:2009, ISO 27001:2013, EMAS and Madrid Excelente.

Customer service and response

All Ferrovial's businesses have internal procedures that establish a methodology for detecting, identifying, recording and monitoring complaints made by clients and users of products or services provided by the company worldwide. Claims that are recorded are processed and analyzed, to offer the most suitable response and to establish actions to improve.

The Ferrovial Quality, Prevention & Environment Department handles any complaints submitted by clients to Ferrovial that are not satisfactorily addressed by the business areas and that demand a solution. In 2015, Ferrovial companies as a whole received a total of 1,964 complaints from clients and users. Of these, 99% were closed within the year. Just one had to be managed by the corporate Quality Department.

All business areas conduct regular surveys to gauge client and user expectations and their satisfaction levels. Cintra, for example, carries out surveys among toll road users using forms, website, emails and phone calls, as well as focus groups for specific issues. The results are evaluated to identify strong points and implement improvements.

All Ferrovial's business areas and companies have put in place channels for clients and users to express their opinions, ask questions and file complaints. These are sometimes included in after-sale departments, customer service departments or call centers, and even by directly contacting the managers or people in charge of the projects and contracts.

The corporate department gives those who are interested a specific address for complaints, comments and questions:

Contribution to value creation

Ferrovial creates value for society by reducing territorial imbalance in those places where it operates, carrying out a social infrastructure program and collaborating with NGOs in other initiatives.

As an infrastructure manager, Ferrovial plays a fundamental role in the promotion of the UN's new Agenda for Sustainable Development (2015-2030). Because of the nature of its business, the company is a key player when it comes to reducing geographical imbalances: it contributes to the advance and development of communities and countries in which it operates, because it generates employment, fosters purchases from local suppliers, pays tax locally, and transfers skills, knowledge, innovation and technology.

Social infrastructure program

Ferrovial bases its investment in the community on an model that is fully coherent with its larger strategy and business model. In this sense, since 2011 Ferrovial has been developing its "Social Infrastructure" program – an international cooperation program that involves building water and sanitation infrastructure in Africa and Latin America.

The company has contributed toward achieving the UN's Millennium Development Goals (2000-2015), specifically target 7.c: “Halve, by 2015, the proportion of the population without sustainable access to safe drinking water and basic sanitation.”

In order to carry out the projects, Ferrovial creates sustainable alliances with several NGOs. The projects are managed equally by the Joint Commission, made up of the same number of representatives appointed by Ferrovial and the NGO. The Commission usually meets at least four times a year to make sure that the initiative is developing correctly.

Ferrovial does not only fund these projects, but it is also an active player in the cooperation work. Its engineers and water infrastructure and treatment experts voluntarily give up a week of their vacation time and another week that the company gives them to spend 15 days in the field, working and sharing their knowledge in the projects.

Every initiative is geared toward being sustainable, both economically and institutionally, and is based on the self-management of the communities that receive the support. A multiplying effect is also sought, by sharing experience and good practices in social investment via forums and working groups, providing an example to other institutions.

In 2015, Ferrovial carried out four projects as part of its Social Infrastructure Program, with an investment of 450,000 euros and benefiting 7,962 people:

  • Municipality of Marinilla, Colombia: Reinforcement of San Bosco aqueduct by building a treatment plant.
  • Municipality of Alto Larán, Peru: Drinking water services and health education for vulnerable families.
  • Colonias Ampliación Chocano and Mezquite, Mexico: Implementation of a drinking water system to guarantee supply to the population.
  • Bolosso Sore and Soddo Zuriya Woredas, Ethiopia: improved access to safe water within 30 minutes walking distance for 7,200 people.

Three projects submitted to the 2015 program were selected, which will be implemented over 2016 in the districts of Buyende in Uganda, El Salado in Colombia and Paccha in Peru.

Other initiatives

Juntos Sumamos

Ferrovial has been carrying out this program since 2005. Employees decide to contribute a monthly amount to a social project and the company doubles the amount donated. 

Special “Juntos Sumamos”: program: Thanks to a special edition of the program and the collaboration of four NGOs (Intermón Oxfam, Acción contra el Hambre, Red Cross and Unicef), the company and its employees supported victims of the earthquake in Nepal on 25 April last year. 113,264 euros were raised for this cause. The employees voted and Ferrovial donated the amount raised by donors and matched the amount.

Ferrovial received 192 collaboration proposals from different NGOs in 2015. Following an analysis of the technical aspects of said programs - the organizations' solvency and transparency levels - six projects were shortlisted. Employees then voted to choose four winners: ASION, building a rehabilitation center for children with cancer; Entreculturas, promoting the socioeconomic inclusion of refugees in Addis Ababa (Ethiopia); Vicente Ferrer Foundation, project to build 20 homes for particularly underprivileged families; World Vision Foundation, project to set up an inclusive children's education center in the Machareti municipality (Bolivia).

Social Action Program in Spain

In Spain, Ferrovial is dedicated to supporting the refurbishment and repurposing of NGO centers, to help alleviate the impact had by the financial crisis on society's underprivileged groups.

Supporting culture

The company sponsors several cultural institutions in Spain, including the Guggenheim Museum, Liceu theater in Barcelona and Teatro Real in Madrid.

Heritage conservation

Ferrovial is strongly committed to Spanish heritage and culture, and helps to restore it. Some of the projects in this area include the Conservation and Restoration of the Roman Theater in Malaga, Conservation and Restoration of the Main Church in Casares, and Construction of the Reina Sofía School of Music in Madrid.

Supporting disadvantaged groups

Amey and Duke of Edinburgh (DofE) have an agreement to develop a new alliance called "Strategic association to support the DofE strategy to reach disadvantaged young people". This alliance focuses on improving life opportunities and employability of thousands of young people at risk of exclusion. The program is developed in five areas in the United Kingdom: Staffordshire, Birmingham, Liverpool, Sheffield and Wales.

Supporting education and young people

In the United States, Ferrovial sponsors several educational projects like "After School Matters", "Black Creativity Gala" and "Illinois Military Families Fund", in Chicago; and "National Math and Science Initiative" in Texas, to help young people further their studies in science, technology, math and engineering.

Contribution to value creation

Prudent, responsible, efficient and transparent management represents an essential element of value creation at Ferrovial.

As part of development of the Code of Business Ethics, in 2010 the Ferrovial Board of Directors approved the company's adhesion to the Spanish Tax Agency's Good Taxation Practices Code. Three years later, the company extended these standards to all activities worldwide under its own Policy of Compliance and Good Practices in Taxation.

Finally, in February 2015 the company's Board of Directors took yet another step forward by approving the strategy detailed in the Ferrovial Tax Policy document, which complies with the stipulations of Article 529 b under the Spanish Corporations Act.

These policies translate into the following commitments and guidelines:

1. Ferrovial complies with its fiscal obligations in all countries where it operates, managing taxes via a professional, efficient, transparent, cooperative and sensible approach.

a) Compliance: Ferrovial undertakes to pay the correct amount of tax as it becomes due, in accordance with the laws of each country where Ferrovial operates.

b) Professionalism: The Ferrovial Tax Advisory Department, a global and centralized department comprised of specialists in the field, manages the firm's taxes and associated risks. As and when necessary, this department is supported by independent consultants from prestigious tax consulting firms.

c) Efficiency: As well as strictly complying with the law and always pursuing legitimate business activities, Ferrovial oversees fiscal aspects in a manner coherent with its business strategy, seeking to comply with its objectives and to optimize value for shareholders.

d) Transparency: Ferrovial provides full information that tax authorities might require in the appropriate form. The company does not make use of any companies domiciled in tax havens or other nontransparent jurisdictions, except when a given activity - for example a specific construction project - is irredeemably connected with such jurisdictions. In such cases the company will provide full information to the competent authorities regarding the project, what activities are performed, the financial results of the same and employees involved, all in accordance with current legislation.

e) Cooperation: Ferrovial sustains good relations with tax authorities and manages tax matters in a proactive manner in order to avoid any kind of conflict.

f) Sustainability: Ferrovial has procedures and policies in place to manage fiscal risks. The company evaluates the same prior to implementing any transaction that involves fiscal planning.

g) Participation: Ferrovial is indirectly involved in legislative proceedings, contributing its international knowledge of how other jurisdictions handle tax matters.

h) Market price: All transfers of goods and services between Ferrovial companies are subject to market conditions established between independent parties. The prices established are considered normal for the market and must reflect the true nature of each transaction.

2. Ferrovial has practices in place to undermine relevant fiscal risks and prevent any conduct that may be conducive to risks.

Following the recommendations of the Good Taxation Practices Code, the company:

i) Promotes measures to prevent and reduce significant fiscal risks.

ii) Seeks to reduce conflicts deriving from differing interpretations of regulations, harnessing instruments established in tax legislation such as consulting with fiscal authorities before the fact, and reaching prior understanding agreements.

iii) Works with the competent tax administrations to detect potential fraudulent tax practices in any market where Ferrovial operates, seeking to prevent and eradicate them.

iv) Provides all information and documentation requested by tax authorities as quickly and as completely as possible.

v) Makes use of all opportunities offered by the contradictory nature of inspection procedures, strengthening agreements with tax authorities in any procedural stage where feasible.

An inspection by the Spanish Tax Agency's Inspection Department was completed in 2015, corresponding to fiscal years 2007 to 2011. This inspection concerned corporate tax, VAT and withholdings on personal income tax, income from professional work and income generated by movable capital. "Actas con Acuerdo" (settlements with the taxpayer to reduce administrative penalties) and "Actas de Conformidad" (in which the adjustment is confirmed), were signed, which have not involved settlement of Ferrovial's tax liability.

3. Ferrovial's Board of Directors takes an active role in overseeing the company's tax matters. 

In compliance with Article 529 b of the Spanish Corporations Act, the Ferrovial Board of Directors performs those fiscal duties that may not be delegated to another body. These include approving a control and management policy for fiscal risks, as well as any operations that carry particular risk.

As part of preparing the company's annual accounts, the Board of Directors was informed of the fiscal policies adopted over the course of the year by the company. It was also informed of the effective degree of compliance with commitments laid out in the Code of Good Practices in Taxation, having observed the practices stated in the annex of the same as far as possible, as agreed at the Major Corporation Forum on November 2, 2015. The company's Annual Corporate Governance Report will reflect this compliance.

The company's Board of Directors, via the Chairman, CEO and senior executives, ensures that Ferrovial adheres to principles and good practices with respect to taxation.

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