•Revenue growth of 4.5%, boosted by strong traffic performance and tariff increases, while EBITDA rose by 6.2% to €4,374 million, both at comparable perimeter and exchange rates.

•In 2025, Abertis strengthened its international leadership through strategic acquisitions, including the French A63 motorway, full ownership of the Vallvidrera and Cadí tunnels in Catalonia, a 22-year extension of the Fluminense corridor concession in Brazil, and the integration in Chile of the Ruta 5 Santiago-Los Vilos motorway, awarded the previous year.

•During the year, Abertis invested close to €2 billion, including the acquisition transactions mentioned above, as well as €739 million allocated to maintenance and expansion investments. In September, Abertis’ shareholders – Grupo ACS and Mundys – injected €400 million in equity to support the company’s growth strategy and further strengthen its balance sheet.

•The Board of Directors of Abertis has today convened the General Shareholders’ Meeting, to be held on 27 March, which includes a proposal for distribution to shareholders of €602 million.

24 February 2026.– Abertis closed fiscal year 2025 with consolidated revenues of €6,149 million, representing growth of 4.5% at comparable perimeter and 1.3% year on year. The Group once again demonstrated its resilience, a solid operational management across the different markets in which it operates, reflecting a diversified geographic strategy, boosted by strategic acquisitions that continue strengthening and balancing the portfolio.
2025 EBITDA at €4,374 million, representing 1.9% growth compared to 2024 and 6.2% at comparable perimeter and exchange rates, underscoring the strength of the Group’s recurring business.

Global traffic growth
Traffic on the Group’s motorways maintained a positive trend throughout the year. Average daily traffic (ADT) reached 26,016 vehicles, representing an increase of 2.1% compared to 2024, with 2.1% growth in light vehicles and 2.5% in heavy vehicles. Traffic showed positive performance in practically all of the Group’s geographies, with Spain and Chile showing stronger performance due to stronger economic momentum, as well as France, where growth exceeded GDP. This performance confirms the strength of demand and the essential role played by Abertis‑managed motorways in international strategic mobility corridors.
The breakdown by countries confirms the weight of the Group’s most relevant markets. France contributed 36% of revenues, followed by Mexico with 12%, Spain and Brazil with 11% each, and Chile, United States and Puerto Rico contribute 9% respectively. These figures reflect a balanced and diversified portfolio, with more than 60% of EBITDA generated in Europe and North America, in euros and US dollars respectively.

The Group’s geographic diversification is one of the main pillars underpinning the robustness of the results achieved. A balanced presence in mature and stable markets in Europe and North America, together with key positions in markets with higher growth potential in Latin America, helps mitigate the economic or regulatory risks of any individual country. This business distribution contributes to balance traffic and cash flow generation, strengthens operational resilience and supports sustained long‑term growth.

Consolidation of new assets and extension of concession life
2025 was marked by a clear strategy of growth and portfolio strengthening. Among the most significant milestones was the acquisition of the French A63 motorway, a strategic corridor connecting Spain with northern Europe that reinforces the Group’s presence in its main international market. In addition, Abertis acquired 100% ownership of the Vallvidrera and Cadí tunnels in Catalonia, essential infrastructures for both urban mobility and Pyrenean connections. In Brazil, the Group secured a 22 year extension of the Fluminense motorway concession in Rio de Janeiro, until 2047, together with a €500 million investment plan mainly aimed at capacity expansion and mobility improvements. In Chile, Abertis began operation of the Ruta 5 motorway between Santiago and Los Vilos, one of the country’s most significant assets, awarded in the previous year. These developments consolidate the company’s international expansion and ensure long term cash flows.

Investments
During the year, Abertis invested close to €2 billion, including the acquisition transactions mentioned above and an outlay of €739 million allocated to maintenance and expansion capex. Investment were focused on Brazil, France and Mexico, with a range of initiatives aimed at pavement improvements, enhanced safety, capacity expansions and technological modernization. These investments reaffirm Abertis’ commitment to operational excellence and service quality.

Financial management and balance sheet
The Group was very active in the debt markets during the year, optimizing costs, refinancing short term debt, funding new acquisitions, improving liquidity and managing financial risks. As a result, the Group’s net debt remained stable at €22.7 billion, supported by a €1 billion reduction through cash flow generation, which largely offset the increase from growth transactions.
Abertis Infraestructuras obtained a new Baa3 rating from Moody’s, while maintaining BBB and BBB ratings from Fitch and S&P, respectively, both with stable outlook.
Group liquidity at €7.6 billion at year end 2025, comprising €3.0 billion in available cash and €4.6 billion in committed and undrawn liquidity lines as of 31 December.
In September, Abertis’ shareholders—Grupo ACS and Mundys—contributed €400 million in capital to support Abertis’ growth and strengthen its balance sheet, thereby reinforcing its global leadership in transport infrastructure concessions.

Improvement in road safety indicators
In terms of road safety, Abertis continued to make significant progress. The IF3 mortality index declined to 1.2 points, representing a reduction of 9.1% compared to 2024, while the IF1 accident rate decreased by 2.2% over the same period.
These improvements are underpinned by the implementation of preventive measures, process digitalization and continuous enhancement of mobility management systems. At the same time, the company promoted innovative projects applied to safety, such as those developed by the Abertis Future Roads Lab, which integrate data from infrastructure and vehicles to provide a more comprehensive view of the road environment.
During 2025, Abertis advanced its connected road initiatives, integrating digital platforms capable of predictive data analysis. In addition, an agreement was formalized with Google Cloud for the implementation of solutions based on artificial intelligence and geospatial data, with the aim of optimizing traffic management and contributing to emissions reduction. The commitment to open innovation was also reinforced through initiatives such as the “Zero Accidents AI Challenge”, promoted in collaboration with the Abertis Foundation, which seeks start-up solutions to reduce road accidents.

Emovis – Abertis Mobility Services
During 2025, Emovis - the commercial brand of Abertis Mobility Services - consolidated its position as a leading strategic partner for road authorities and infrastructure operators at international level, advancing major projects in the Americas and Europe and strengthening its technological and operational leadership in barrier free tolling environments (free flow).

In the United States and Canada, highlights the start of operations for the customer service contract for Florida’s Turnpike Enterprise, involving a significant organizational deployment with the opening of new offices in Orlando and the onboarding of around 500 professionals; agreements with the New Jersey Turnpike Authority and the Virginia Department of Motor Vehicles; and the modernization of the operational back office system for the A25 motorway in Quebec. These initiatives reinforce Emovis’ capacity to manage high volume operations and support new transport financing models.
In Europe and Latin America, the company made progress on key projects such as the renewal of the VíasChile back office system and the implementation of its commercial system in the Mont Blanc tunnel and motorway free flow tolling project.
With these advances, Emovis continues to act as a driver of mobility transformation, integrating technology, people and processes to deliver efficient, user centered tolling solutions.

ESG Plan 2025–2027
Progress in sustainability was also significant. During 2025, Abertis launched its ESG Plan 2025–2027, advancing consistently across its key environmental, social and governance commitments. The company achieved a substantial reduction in emissions, with significant improvements in Scope 1 and 2 emissions ( 40.4%) compared to 2019 (the reference year), reinforcing its trajectory towards more sustainable mobility. Compared to 2024, Scope 1 and 2 emissions were reduced by 6.2%, while the company’s climate strategy received external recognition with an improvement in its CDP rating to A–.
In parallel, Abertis continued to develop the technical bases of its long term climate roadmap through the rollout of technical analysis associated with the Net Zero 2045 project, which will enable the definition and prioritization of the levers required to achieve climate neutrality.
On the social front, the year was marked by improvements in key safety indicators, as noted above, and positive progress in occupational health and safety, reflected in a reduction in lost time accidents. These advances consolidate the Group’s comprehensive approach to sustainability and its commitment to protecting people.

Outlook for 2026
Abertis will maintain its growth strategy and the full integration of newly acquired assets, while advancing the digitalization of mobility and accelerating decarbonization initiatives. The company will remain focused on improving road safety, developing more resilient infrastructure and achieving its climate and social commitments, supported by the expertise of more than 12,000 professionals worldwide.

Board of Directors’ resolutions
The Board of Directors of Abertis has called the Ordinary General Shareholders’ Meeting to be held on 27 March, at which, among other items on the agenda, a proposal for a distribution to shareholders of €602 million will be submitted for approval.
The meeting will also propose approval of the individual and consolidated annual accounts and their respective management reports for fiscal year 2025.

• Press release