Owning what we build, where it makes sense.
€6.4 B equity invested across 41 European concessions — toll roads, hospitals, district heating.
What this discipline covers.
Hextal Invest is the group's concession and public-private partnership arm, created in 1998 when Hextal took its first equity stake in a Dutch toll road. Today the division manages EUR 6.4 billion in assets under management across 41 European concessions spanning toll roads, hospitals, district heating networks, bridges and government buildings.
The concession model aligns our interests with those of the communities we serve. When we own and operate a hospital for 30 years, we design and build it for 30 years of operation, not for a one-day handover inspection. This long-term ownership mindset produces better infrastructure, lower lifecycle costs and higher user satisfaction.
Our concession portfolio generates stable, inflation-linked cash flows that complement the project-based revenues of the engineering divisions. The division has delivered an average equity IRR of 11.2% across its portfolio, with no concession default in 28 years of operation.
Selected works.
Brenner Base — North Approach, Tube T-3
22.4 km twin-bore alpine tunnel beneath the Stubai range. Hextal led the TBM consortium and the cross-passage civils. Excavated material reused as aggregate within a 40 km radius — net-positive on embedded carbon vs. EN 16627 baseline.
Berlin Hauptbahnhof — Southern Concourse
14,800 m² extension, glass-and-steel canopy spanning four ICE platforms. Built without interrupting service.
Maasvlakte III — Caisson Dry Dock
A 1.2 km automated container quay built on a man-made polder.
How we approach this discipline.
Lifecycle cost modelling
Every concession bid is underpinned by a 30-year lifecycle cost model that accounts for maintenance, replacement, energy, staffing and regulatory change. We build for decades, not for handover.
Equity structuring
Our in-house treasury and project finance teams structure equity and debt packages that optimise risk allocation between public and private partners.
Operational management
We manage operations directly through subsidiary companies, with on-site teams responsible for maintenance, cleaning, security and facility management.
Performance monitoring
Concession performance is monitored against availability and service quality KPIs defined in the project agreement. Payment mechanisms are transparent and auditable.
The people behind Concession & PPP.
Elena Ferreira Santos
Elena joined Hextal from Deloitte in 2014 and was appointed CFO in 2019. She led the group's transition to IFRS 16 and CSRD reporting.
Our concession & ppp team includes engineers, project managers, site supervisors and specialist consultants working across the full project lifecycle.
Other disciplines.
Bridges, tunnels, rail & highways.
From cable-stayed crossings to bored alpine tunnels — the load-bearing arteries of European movement.
Renewables, transmission, storage.
Offshore wind foundations, HVDC interconnectors, pumped storage, hydrogen-ready substations.
Quays, locks, dry docks, breakwaters.
If a continent rests on its coastline, we work where the rock meets the salt.