Ferrovial N.v. · BME:FER
Ferrovial — 9M 2022 Earnings Presentation
18 slides from Ferrovial's earnings presentation, Oct 27, 2022
Slide 1: 9M 2022 Financial Results
9M 2022 FINANCIAL RESULTS 27 October 2022 October 2022 1
Slide 2: Disclaimer
9M2022 financialinformation includedin 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: 9M 2022 Overview
9M 2022 OVERVIEW • Toll Roads: strong revenue growth from US assets despite global macro environment. 407ETR shows a solid path of recovery • Airports: strong traffic recovery. • Construction: inflationary pressure mitigated by active management • I-66 (Virginia, US): Nine-mile segment already open
Slide 4: Toll roads: 9M 2022 performance vs 9M 2021
9M 2022 PERFORMANCE vs 9M 2021 EUR mn SEPT-22 % Ch LfL Revenues 563 26.1% EBITDA 407 27.9% EBITDA mg 72.3% • • +46.5% +48.2% USD106mn Revenue EBITDA NTE USD73mn LBJ USD33mn MAIN NEW TOLL ROADS • • • • Picture: NTE • • • October 2022 44
Slide 5: 407 ETR: significant financial growth
407 ETR SIGNIFICANT FINANCIAL GROWTH 9M 2022 PERFORMANCE vs 9M 2021 CAD mn SEPT-22 VAR. Traffic (VKT mn) 1,622 38.0% Revenues 965 35.0% EBITDA 834 39.2% EBITDA mg 86.5% • FINANCIAL POSITION • • DIVIDENDS • SCHEDULE 22 • ✓ Picture: 407 ✓ • October 2022 5
Slide 6: Toronto: steady recovery in traffic month over month
TORONTO STEADY RECOVERY IN TRAFFIC BEING OBSERVED MONTH OVER MONTH 407ETR PERFORMANCE VS. 2019 (VKT) LOW RETURN TO THE OFFICE** 34% • EVOLUTION OF 407, MAIN ALTERNATIVES & URBAN TRANSIT* FORECAST FOR ONTARIO SHOWS SOLID GROWTH (VS. 2019) DESPITE MACRO-ECONOMIC HEADWINDS -12% October 2022 6
Slide 7: DFW managed lanes: double digit revenue per transaction growth
DFW MANAGED LANES DOUBLE DIGIT REV/TRANSACTION GROWTH TRAFFIC ACCELERATION IN SEPTEMBER 9M 2022 PERFORMANCE (VS. 9M 2021) NTE VAR. LBJ VAR. NTE35W VAR. Transactions Revenues EBITDA EBITDA mg NTE35W ( NTE3C works) AVG REVENUE PER TRANSACTION NTE LBJ NTE35W NTE35W +21.4% +12.1% +23.4% Picture:Picture:
Slide 8: Managed lanes revenue outperformance vs pre-COVID levels
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 October 2022 8
Slide 9: DFW: North Texas top area for job and population growth
DFW NORTH TEXAS CONTINUES TO BE A TOP AREA FOR JOB AND POPULATION GROWTH • Wells Fargo • Goldman Sachs • Oneworld Alliance’s October 2022 9
Slide 10: I-77 revenues growing due to higher tolls and traffic
I-77 REVENUES GROWING DUE TO HIGHER TOLLS & STRONG TRAFFIC GROWTH 9M 2022 PERFORMANCE vs 9M 2021 USD mn SEPT-22 VAR. Transactions 25 23.6% Revenues 43 74.0% EBITDA 26 96.8% EBITDA mg 60.1% TRAFFIC • REVENUES • • +43.9% REGION UPDATE • Charlotte is currently the third fastest-growing major U.S. city.
Slide 11: Heathrow: the busiest European hub over the summer
HEATHROW THE BUSIEST EUROPEAN HUB OVER THE SUMMER OPERATIONAL PERFORMANCE MONTHLY TRAFFIC (passengers mn) 8 7 6 5 4 3 2 1 0 Jan Feb Mar Apr May Jun Jul Aug Sep • • • • • • • • • CAA’S H7 FINAL PROPOSALS • • Pic: HAH • October 2022 11 1211
Slide 12: Other airport assets: positive traffic trend during summer
OTHER AIRPORT ASSETS POSITIVE TRAFFIC TREND DURING THE SUMMER AGS DALAMAN • • • MONTHLY TRAFFIC (passengers mn) 1,400 1,200 1,000 800 600 400 200 0 Jan Feb Mar Apr May Jun Jul Aug Sep NEW TERMINAL ONE (NTO) PROJECT ON SCHEDULE • • October 2022 12
Slide 13: Construction: active inflation management while focusing on delivery
CONSTRUCTION ACTIVE INFLATION MANAGEMENT WHILE FOCUSING ON DELIVERY 9M 2022 PERFORMANCE vs 9M 2021 EUR mn SEPT-22 SEPT-21 % Ch LfL Revenues 4,764 4,433 2.9% EBIT 38 109 -63.7% EBIT % 0.8% 2.5% Order book* 13,109 12,216 2.3% • • o o o o ORDER BOOK AT ALL TIME HIGH • • 15% 22% 43% 6% 6% Spain Poland U
Slide 14: Services: sale of Amey completes divestment process
SERVICES SALE OF AMEY COMPLETES* SERVICES DIVESTMENT PROCESS FER sells Amey to One Equity Partners & Buckthorn Partners • • EV of GBP400mn • Eq. value** of c.GBP245mn o o • • • • Capital gain estimated to be c.€50mn • October 2022 14 15 14
Slide 15: Main consolidated figures and net debt evolution
MAIN CONSOLIDATED FIGURES (LfL VARIATION vs. 9M2021) 83% of EBITDA from the US NET DEBT EVOLUTION (EX-INFRASTRUCTURE) INCLUDING DISCONTINUED ACTIVITIES 139 164 (448) (74) (483) 202 (402) (193) 2,182 1,087 NCP Dec'21 Dividends EBITDA* WC Taxes Investments Divestments Shareholder Other NCP Sept'22 fro
Slide 16: Pic: D4R7 Slovakia
• • • • • ✓ • • Pic: D4R7 Slovakia October 2022 16 16
Slide 17: Q&A
Q&A October 2022 17
Slide 18: 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