A message from 2025
from our CEO, José A. Labarra
“2024, a year of growth, a reinforced balance sheet and the consolidation of our operations in India”
There is no need to look back to remember the path we have been on in 2024, because it is still present in our day-to-day. After years of work and effort, we acquired 100% of our assets from India. And the feeling of satisfaction and fulfilment of successfully reaching the end of this process has been with us all year round.
This operation solidifies our position as one of the leading international investors in motorway assets in India, which, together with our investments in Mexico, positions ROADIS as one of the world's benchmark investors in emerging countries.
During 2024, we increased our Annual Average Daily Traffic (ADT) by 3.6%, reaching 207,501 vehicles per day. This increase has a direct impact on revenue which grew by 9%, reaching €348.8 million, and EBITDA, which increased to €250.1 million, marking a growth of 12.5%.
Another milestone that has defined our performance in 2024 is the restructuring of the debt with the Mexican National Infrastructure Fund in the concession for the Perote-Banderilla Motorway and Libramiento de Xalapa -COPEXA- in the state of Veracruz. For the last three years, this management has pursued two main objectives: on the one hand, the restructuring of COPEXA's debt, in order to pay out dividends and obtain better financing, which we achieved a few weeks later by re-financing the project's senior debt, which dated back to the beginning of its construction; on the other hand, the loan's capitalisation by the Fund to prevent it from continuing to generate associated expenses. Finally, we resolved the situation in a satisfactory manner through a restructuring that protects the rights of both parties.
Also in Mexico, in relation to another of our assets, the Monterrey-Saltillo Motorway -CAMS-we carried out a debt issuance for approximately 5,000 million Mexican pesos, which has served to raise the company's cash balance by more than €200 million, which is available to be distributed to our shareholders or to grow the company through new projects.
Lastly, and not least importantly, in 2024 an agreement was reached with the Brazilian government and the granting entity -ratified by the Federal Court of Accounts (TCU) on 5th February 2025, for an orderly return of our concession, Viabahía. The agreement is a consensual solution that resolves the conflicts that date back to 2019 and that involves a compensation in favour of ROADIS due to the early termination of the contract. Following the ratification by the TCU, the agreement is expected to be signed in the first quarter of 2025..
Now, with the whole of 2025 ahead, we can focus on our strengths to consolidate our position in emerging economies, contributing with the know-how acquired after years of experience managing profitable projects. Meanwhile, our expansion plan for the next three years focuses on mature assets in the operational stage (brownfield) and assets in the final stages of construction or initial stages of operation (yellowfield).
This organic growth is responsible for our business and culture model and our sustainability goals. The Sustainability Master Plan in 2024 brings us closer to meeting the objectives for 2025 and 2030 on environmental, social and corporate governance. This year, we have approved the Circular Economy Policy and the Circular Economy Plan. In addition, we have achieved a 5.6% reduction in emissions compared to the previous year, equivalent to 338.05 tonnes of CO2 less.
As regards the corporate scope, our workforce has workers of 14 different nationalities, and a considerable percentage of them are under 30 years old, as we have committed to young talent and their professional development within the company. In social terms, we continue to creating value in the communities where we are present, seeking to generate a positive impact through local associations. An example of this is Swasthya Path, a project carried out in collaboration with The Hans Foundation that takes quality medical care to rural areas around Varanasi (India) through medical mobile units.
Our business model promotes a solid and shared cultural model for all geographical areas, while respecting the inherent traditions of each. This is where cultural wealth lies and where we learn to adapt to the particularities of each country. Together with the resolution of complicated situations, this adaptive capacity is our main motivation.
Out of all the traits that make up this cultural model and define us as a company, safety stands out as our absolute priority. We have a clear goal in this area: having each worker and user arrive healthy and safe at home. We design internal innovation programmes to develop ideas that improve safety in the working environment, we launch awareness campaigns aimed at users, and we build additional retaining structures to prevent accidents and minimise the consequences of possible technical or human failures.
We are halfway through the decade with a sense of confidence and established as the benchmark in the regions we operate, always waving the flags that identify us as an operator committed to creating value: safety, ethics, prosperity and innovation. We face this new year with renewed enthusiasm, as well as the challenges that will come with it, always with the passion for which we are known.
