Ferrovial N.v. · BME:FER
Ferrovial — Q1 2024 Earnings Presentation
16 slides from Ferrovial's earnings presentation, May 13, 2024
Slide 1: Q1 2024 Financial Results
Q1 2024 FINANCIAL RESULTS May 13, 2024 Q1 2024 1 Financial Results
Slide 2: Q1 2024 Overview
Q1 2024 OVERVIEW Strong operating performance • Toll Roads: US MLs keep posting an outstanding revenue growth. 407ETR showed higher traffic & revenue and announced an increased dividend for Q2 • Airports: Heathrow’s busiest first quarter ever. AGS had a solid quarter and closed its refinancing • Con
Slide 3: Toll Roads: Significant Growth Driven by US Managed Lanes
TOLL ROADS SIGNIFICANT GROWTH DRIVEN BY US MANAGED LANES Q1 2024 PERFORMANCE vs. Q1 2023 EUR mn Q1 2024 % Ch LfL1 Revenue 277 30.1% Adj. EBITDA1 203 36.2% Adj. EBITDA mg 1 73.4% PERFORMANCE & CONTRIBUTION FROM US ASSETS +34.1% +38.1% US TOLL ROADS’ US TOLL ROADS’ ADJ. REVENUES vs. Q1’23 EBITDA vs. Q
Slide 4: 407 ETR: Growth in Traffic, Revenue and Dividend
407 ETR GROWTH IN TRAFFIC, REVENUE AND DIVIDEND Q1 2024 PERFORMANCE vs. Q1 2023 CAD mn Q1 2024 VAR. CAD mn Q1 2024 VAR. Traffic (VKT mn) 514 7.1% Avg trip length (km) 21.62 1.4% Revenue 330 11.8% EBITDA 279 15.2% Total Revenue 330 11.8% EBITDA mg 84.7% • Toll revenue: grew on the back of higher traf
Slide 5: DFW Managed Lanes
DFW MANAGED LANES REV/TRANSACTION GROWTH BEATS INFLATION & GDP1 AVG REVENUE PER TRANSACTION NTE LBJ NTE35W +5.9% +8.4% +19.6% Q1 2024 PERFORMANCE (vs. Q1 2023) NTE VAR. LBJ VAR. NTE35W VAR. Revenue Adj. EBITDA2 Adj. EBITDA mg 2 TRAFFIC PERFORMANCE (vs. Q1 2023) • Traffic positively impacted by bette
Slide 6: I-77 and I-66
I-77 I-66 ANOTHER QUARTER OF STRONG GROWTH STEADY RAMP UP Q1 2024 PERFORMANCE vs. Q1 2023 Q1 2024 PERFORMANCE vs. Q1 2023 USD mn Q1 2024 VAR. USD mn Q1 2024 VAR. Transactions (mn) 10 9.0% Transactions (mn) 7 17.8% Revenue 23 24.9% Revenue 48 82.2% Adj. EBITDA1 16 23.9% Adj. EBITDA1 37 105.7% Adj. EB
Slide 7: Heathrow: Record-Breaking Start to 2024
HEATHROW RECORD-BREAKING START TO 2024 Q1 2024 PERFORMANCE vs. Q1 2023 (Heathrow SP) GBP mn Q1 2024 VAR. Passengers (mn) 18.5 9.5% Revenue 808 -0.7% Adj. EBITDA 443 -8.8% Adj. EBITDA mg 54.8% • Aeronautical revenue affected by lower charges set by CAA in H7, partially offset by higher pax. numbers •
Slide 8: Other Airport Assets
OTHER AIRPORT ASSETS AGS – SOLID GROWTH DALAMAN – READY FOR PEAK SEASON Traffic performance by asset: Significant increase in Southampton +11.6% • Adjusted EBITDA impacted by seasonality and +11.0% Glasgow. Aberdeen posted traffic in line with Q1 2023 (summer season started on March 15) REFINANCING
Slide 9: Construction: Profitability Improvement Across the Division
CONSTRUCTION PROFITABILITY IMPROVEMENT ACROSS THE DIVISION Q1 2024 PERFORMANCE vs. Q1 2023 EUR mn Q1 2024 Q1 2023 % Ch LfL1 Revenue 1,476 1,445 0.4% Adj. EBITDA1 68 42 44.8% Adj. EBITDA mg 1 4.6% 2.9% 1 Adj. EBIT 32 14 77.1% Adj. EBIT mg 1 2.1% 1.0% Order book2 15,390 15,179 0.3% • Budimex: 7.2% Adj
Slide 10: Q1 2024 Main Figures
Q1 2024 MAIN FIGURES Q1 2024 REVENUE & PROFITABILITY FIGURES (LfL VARIATION VS. Q1 2023) REVENUE ADJ. EBITDA1 ADJ. EBIT1 €1,879mn €254mn €152mn +3.5% +37.6% +63.2% Pic: I66 Q1 2024 (1) Non-IFRS financial measure. For the definition and reconciliation to the most directly comparable IFRS measure, ref
Slide 11: Change in Consolidated Net Debt ex-Infrastructure Projects
Q1 2024 MAIN FIGURES CHANGE IN CONSOLIDATED NET DEBT EX-INFRASTRUCTURE PROJECT COMPANIES CASH FLOWS -€480MN CF FROM OPERATING CF FROM INVESTING CF FROM FINANCING CASH CASH ACTIVITIES -€101MN ACTIVITIES -€89MN ACTIVITIES -€290MN CHANGE IN DEBT AND OTHER NET DEBT COMPONENTS -€26MN DEBT AND DEBT AND OT
Slide 12: Closing Remarks
CLOSING REMARKS • • • • • • • Pic: I-77 Q1 2024 12 12 Financial Results
Slide 13: Q&A
Q&A Q1 2024 13 13 Financial Results
Slide 14: Disclaimer (I)
DISCLAIMER (I) This presentation has been produced by Ferrovial SE (the “Company,” “we,” or “us” and, together with its subsidiaries, the “Group”) for the sole purpose expressed herein. By accessing this presentation, you acknowledge that you have read and understood the following statements. Neithe
Slide 15: Disclaimer (II)
DISCLAIMER (II) Alternative Performance Measures In addition to the financial information prepared under the International Financial Reporting Standards (“IFRS”), this presentation may include certain alternative performance measures (“APMs” or “non-IFRS measures”), as defined in the Guidelines on A
Slide 16: Investor Relations Department
INVESTOR RELATIONS DEPARTMENT +34 91 586 25 65 +31 207 983 724 ir@ferrovial.com www.ferrovial.com Q1 2024 Financial Results