Ferrovial N.v. · BME:FER
Ferrovial — H1 2022 Earnings Presentation
20 slides from Ferrovial's earnings presentation, Jul 28, 2022
Slide 1: 1H 2022 Financial Results
1H 2022 FINANCIAL RESULTS Pic: NTE 28 July 2022 July 2022 1
Slide 2: Disclaimer
1H2022 financialinformation included in this presentation has been impacted by the COVID-19 outbreak, which affects the company’s performance since the second half of March 2020. Given the uncertainty regarding the speed and extent of the resumption in activity, it is not possible to predict how the
Slide 3: 1H 2022 Overview
1H 2022 OVERVIEW • Toll Roads: strong revenue growth from US assets despite global macro environment. 407ETR shows continuous recovery • Airports: strong traffic recovery • Construction: inflationary pressure mitigated by active management • Financial close of the investment in New Terminal One (NTO
Slide 4: NTE: Revenue and EBITDA performance
EUR mn JUN-22 % Ch LfL Revenues 355 31.1% EBITDA 255 34.7% EBITDA mg 71.9% • • +49.2% +51.6% USD106mn Revenue EBITDA NTE USD73mn LBJ USD33mn • • • • Picture: NTE • • • July 2022 44
Slide 5: 407 ETR: Significant financial growth
407 ETR SIGNIFICANT FINANCIAL GROWTH 1H2022 PERFORMANCE CAD mn JUN-22 VAR. Traffic (VKT mn) 943 57.5% Revenues 573 50.2% EBITDA 489 57.6% EBITDA mg 85.3% • FINANCIAL POSITION • • DIVIDENDS • SCHEDULE 22 • ✓ Picture: 407 ✓ • July 2022 5
Slide 6: Toronto: steady recovery in traffic being observed month over month
TORONTO STEADY RECOVERY IN TRAFFIC BEING OBSERVED MONTH OVER MONTH 407ETR PERFORMANCE VS. 2019 (VKT) LOW RETURN TO THE OFFICE** 27% • • EVOLUTION OF 407, MAIN ALTERNATIVES & URBAN TRANSIT* (VS. 2019) July 2022 6
Slide 7: Toronto 407 ETR corridor exposed to growth prospects
TORONTO 407 ETR CORRIDOR EXPOSED TO GROWTH PROSPECTS FORECAST FOR ONTARIO SHOWS GROWTH DESPITE THE AREA CONTINUES TO ATTRACT NEW COMPANIES*** MACRO-ECONOMIC HEADWINDS THE GTA INDUSTRIAL MARKET: ONE OF THE HOTTEST REAL ESTATE MARKETS IN NORTH AMERICA**** • July 2022 7
Slide 8: DFW managed lanes: double digit revenue/transaction growth
DFW MANAGED LANES DOUBLE DIGIT REV/TRANSACTION GROWTH TRAFFIC SOFTENED BY GLOBAL MACRO ENVIRONMENT AND NTE3C WORKS 1H2022 PERFORMANCE (VS. 1H2021) NTE VAR. LBJ VAR. NTE35W VAR. Transactions Revenues EBITDA NTE35W ( NTE3C works) EBITDA mg AVG REVENUE PER TRANSACTION NTE35W Picture:Picture: • 8 8 July
Slide 9: Managed lanes: revenue outperformance vs. pre-COVID levels in all assets
MANAGED LANES: REVENUE OUTPERFORMANCE VS. PRE-COVID LEVELS IN ALL ASSETS TRAFFIC & REVENUE RECOVERY (INDEX 100 = FEB 2020*) NTE 35W: NTE: LBJ: I-77: Traffic Revenues July 2022 9
Slide 10: DFW: Texas outperformance despite global macro-economic headwinds
DFW: TEXAS OUTPERFORMANCE DESPITE GLOBAL MACRO-ECONOMIC HEADWINDS • • • July 2022 10
Slide 11: I-77: revenues growing on the back of higher toll rates
I-77 REVENUES GROWING ON THE BACK OF HIGHER TOLL RATES 1H2022 PERFORMANCE vs 1H2021 USD mn JUN-22 VAR. Transactions 16 35.1% Revenues 26 85.8% EBITDA 15 118.1% EBITDA mg 56.9% REVENUES • • • TRAFFIC • REGION UPDATE • • Pic: I-77 • July 2022 11 11
Slide 12: Heathrow: strong traffic increase
• • • • • • 0 2 1 3 4 5 6 • • • • Feb-20 Mar-20 Apr-20 May-20 Jun-20 HEATHROW Jul-20 July 2022 Aug-20 Sep-20 Oct-20 Nov-20 CAA’S H7 FINAL PROPOSALS Dec-20 OPERATIONAL PERFORMANCE Jan-21 Feb-21 STRONG TRAFFIC INCREASE Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 MONTHLY TRAFFIC (passengers mn) Oc
Slide 13: AGS and Dalaman: strong recovery
• • • • • 1,000 800 0 200 600 400 Feb-20 AGS Mar-20 TRAFFIC Apr-20 May-20 DALAMAN Jun-20 Jul-20 Aug-20 July 2022 Sep-20 Oct-20 Nov-20 STRONG RECOVERY Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 MONTHLY TRAFFIC (passengers mn) Sep-21 Oct-21 Nov-21 COMPLETION OF THE 60% ACQUISITION
Slide 14: New Terminal One (NTO): financial close & notice to proceed reached
NEW TERMINAL ONE (NTO) FINANCIAL CLOSE & NOTICE TO PROCEED REACHED FINANCIAL CLOSE DETAILS • • • • • • • • • CONSTRUCTION WORKS PROGRESSING ACCORDING TO SCHEDULE • Pic AGS *During Construction July 2022 14 13 14
Slide 15: Construction: active inflation management while focusing on delivery
CONSTRUCTION ACTIVE INFLATION MANAGEMENT WHILE FOCUSING ON DELIVERY 1H2022 PERFORMANCE vs 1H2021 EUR mn JUN-22 JUN-21 % Ch LfL Revenues 3,053 2,824 4.1% EBIT 26 72 -63.1% EBIT % 0.8% 2.6% Order book* 12,043 12,216 -4.1% • • o o o o ORDER BOOK • • 15% 23% 42% 8% 7% Spain Poland US & CAD UK & SVK Aust
Slide 16: P&L
P&L EUR mn JUN-22 JUN-21 REVENUES 3,465 3,135 EBITDA 306 263 Period depreciation -138 -126 EBIT (ex disposals & impairments) 168 137 Disposals & impairments 0 16 EBIT 168 153 FINANCIAL RESULTS -118 -176 Financial Result from infrastructure projects -175 -154 Financial Result from ex-infrastructure p
Slide 17: Net debt evolution (ex-infrastructure)
NET DEBT EVOLUTION (EX-INFRASTRUCTURE) INCLUDING DISCONTINUED ACTIVITIES 85 86 (248) 180 (32) (234) (356) (143) 2,182 1,521 NCP Dec'21 Dividends EBITDA* WC Taxes Investments Divestments Shareholder Other NCP Jun'22 from projects evolution Remuneration financing cash flows July 2022 * EBITDA excludes
Slide 18: Pic: D4R7 Slovakia
• • • • • ✓ ✓ Pic: D4R7 Slovakia July 2022 18 18
Slide 19: Q&A
Q&A July 2022 1919
Slide 20: Investor Relations contact
For a world on the move INVESTOR RELATIONS DEPARTAMENT Ferrovial Corporacién, S.A. Principe de Vergara, 135 28002 Madrid (Spain) Tel. +34 91586 2730 Fax +34 91586 28 69 e-mail: ir@ferrovial.com website: www.ferrovial.com Momber of Powered by the S&P Global CSA Sustainability Award S&P Global CLIMATE