2.1 OPERATING INCOME
The detail of the Group’s operating income at 31 December 2016 is as follows:
(Millions of euros) |
2016 |
2015 |
Revenue |
10,759 |
9,701 |
Other operating income |
7 |
9 |
TOTAL OPERATING INCOME |
10,765 |
9,709 |
“Revenue” includes the financial consideration for the services provided by the concession operators that apply the financial asset model, amounting to EUR 189 million (2015: EUR 194 million), as described in Note 1.3.3.2.
“Other Operating Income” includes the impact of the grants related to income received in 2016 amounting to EUR 6 million (2015: EUR 8 million).
The detail, by segment, of revenue in 2016 and 2015 is as follows:
|
31/12/2016 |
|
||
(Millions of euros) |
External sales |
Inter-segment sales |
Total |
Change 16/15 |
Construction |
3,721 |
474 |
4,194 |
-2% |
Toll roads |
486 |
1 |
486 |
-5% |
Airports |
4 |
0 |
4 |
-50% |
Services |
6,067 |
11 |
6,078 |
24% |
Other and adjustments |
84 |
-88 |
-4 |
-29% |
TOTAL |
10,362 |
397 |
10,759 |
11% |
|
2015 |
||
(Millions of euros) |
External sales |
Inter-segment sales |
Total |
Construction |
3,561 |
726 |
4,287 |
Toll roads |
511 |
3 |
513 |
Airports |
8 |
1 |
8 |
Services |
4,891 |
6 |
4,897 |
Other and adjustments |
77 |
-84 |
-6 |
TOTAL |
9,048 |
652 |
9,701 |
The inter-segment sales that are not eliminated in the Group’s consolidated financial statements are the sales made by the Construction Division to the infrastructure concession operators, as discussed in Notes 1.3.3.2 and 6.8.
The detail of sales, by geographical area, is as follows:
(Millions of euros) |
2016 |
2015 |
Change 16/15 |
Spain |
2,629 |
2,694 |
-65 |
UK |
3,171 |
3,471 |
-300 |
Australia |
1,627 |
100 |
1.527 |
US |
1,181 |
1,344 |
-163 |
Canada |
107 |
173 |
7 |
Poland |
1,316 |
1,263 |
54 |
Other |
727 |
656 |
-3 |
TOTAL |
10,759 |
9,701 |
1,058 |
The Ferrovial Group’s sales in its six main markets account for 93% of total sales.