Ferrovial terminates buyback program, launches new €800 million repurchase

Ferrovial SE (Euronext Amsterdam: FER) terminated its existing share repurchase program and announced a new €800 million buyback initiative, according to a company statement.

The infrastructure company ended its current program, which was announced in March 2025 and began in June 2025, effective at the close of U.S. stock exchanges on December 12, 2025.

The new repurchase program will run from December 15, 2025, through October 15, 2026, with a maximum investment of €800 million. The program caps share acquisitions at 15 million shares, representing approximately 2.04% of Ferrovial's issued share capital.

Ferrovial stated the new program aims to repurchase shares for "future projects consistent with the strategic objectives the Company intends to pursue, for industrial projects, or other transactions or corporate actions involving the assignment or disposition of treasury shares."

Goldman Sachs will execute the purchases on behalf of Ferrovial and will make trading decisions independently of the company. The program includes price restrictions that prevent purchases exceeding the higher of the last independent trade price or the highest current independent purchase bid on the trading venue.

Volume limitations restrict daily purchases to no more than 25% of the average daily trading volume over the preceding 20 trading days. On U.S. markets, share acquisitions will comply with applicable federal securities laws.

The company said it may extend the program's duration based on prevailing circumstances and reserves the right to terminate early if maximum investment amounts are reached or other circumstances warrant cessation.

Ferrovial operates in more than 15 countries with over 25,000 employees worldwide. The company trades on Euronext Amsterdam, Spanish Stock Exchanges, and Nasdaq.

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