2.1 OPERATING INCOME
The detail of the Group’s operating income at 31 December 2017 is as follows:
(Millions of euros) |
2017 |
2016 |
Revenue |
12,208 |
10,759 |
Other operating income |
10 |
7 |
Total operating income |
12,218 |
10,765 |
The Group’s revenue at 31 December 2017 relating to contracts with customers amounted to EUR 11,872 million (see Note 1.3.3.4, Revenue recognition).
“Revenue” includes the financial consideration for the services provided by the concession operators that apply the financial asset model, amounting to EUR 153 million (2016: EUR 189 million), as described in Note 1.3.3.2.
“Other Operating Income” includes the impact of the grants related to income received in 2017 amounting to EUR 10 million (2016: EUR 7 million).
The detail, by segment, of revenue in 2017 and 2016 is as follows:
|
31/12/17 |
|
||
(Millions of euros) |
EXTERNAL SALES |
INTER-SEGMENT SALES |
TOTAL |
CHANGE 17/16 |
Construction |
4,139 |
489 |
4,628 |
10% |
Toll roads |
457 |
4 |
461 |
-5% |
Airports |
20 |
0 |
21 |
383% |
Services |
7,056 |
13 |
7,069 |
16% |
Other segments |
125 |
137 |
262 |
21% |
Adjustments |
0 |
-232 |
-232 |
5% |
Total |
11,797 |
411 |
12,208 |
13% |
|
2016 |
||
(Millions of euros) |
EXTERNAL SALES |
INTER-SEGMENT SALES |
TOTAL |
Construction |
3,721 |
474 |
4,194 |
Toll roads |
486 |
1 |
486 |
Airports |
4 |
0 |
4 |
Services |
6,067 |
11 |
6,078 |
Other segments |
305 |
132 |
217 |
Adjustments |
0 |
-221 |
-221 |
Total |
10,362 |
397 |
10,759 |
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) |
2017 |
2016 |
CHANGE 17/16 |
||
|
|||||
Spain |
2,837 |
2,629 |
208 |
||
UK |
2,871 |
3,171 |
-300 |
||
Australia (*) |
2,504 |
1,469 |
1,035 |
||
US |
1,634 |
1,291 |
344 |
||
Canada |
117 |
123 |
-6 |
||
Poland |
1,563 |
1,316 |
246 |
||
Other |
681 |
759 |
-78 |
||
Total |
12,208 |
10,759 |
1,450 |
The Ferrovial Group’s sales in its six main markets account for 94% of total sales.