Spanish construction group Ferrovial, which owns British airports operator BAA, swung into the black in 2010, posting profits of €2.16 billion. The strong result was a sharp turnaround from losses of €73.5m in 2009.
Earnings before interest, taxes depreciation and amortization (EBITDA) - a key measure of profitability - were down 3.1 percent at €2.51 billion, while sales slipped 0.5% to almost €12.2 billion.
The group's massive debt, a consequence of its purchase of BAA in 2006, fell to almost €19.8 billion from €22.3 billion in 2009 due to the sale of several assets including 10% of Canadian highway operator 407ETR and toll roads in Chile.
