Budimex Sa · GPW:BDX

Budimex Sa — 1-3Q 2017 Earnings Presentation

17 slides from Budimex Sa's earnings presentation, 2017

  1. Slide 1: Investor Presentation 1-3Q'17 financial results

    sense of creating Investor Presentation 1-3Q’17 financial results

  2. Slide 2: Budimex Group structure

    Budimex Group structure 1-3Q’17 results summary 1-3Q’17 sales 1-3Q’17 EBIT Internal eliminations (% Group sales) (% Group EBIT) -264 M PLN 5 M PLN -6% 1% 4 553 M PLN 426 M PLN Construction segment Developer segment Other activities 4 314 M PLN 358 M PLN 384 M PLN 55 M PLN 120 M PLN 97M M PLN PLN 95%

  3. Slide 3: 1-3Q'17 at a glance

    1-3Q’17 at a glance 1-3Q’17 results summary  383 M PLN highest ever dividend paid in June (+84% y-o-y)  Strong order backlog of 9,3 bn PLN (+7% y-o-y)  Excellent EBIT profitability at 9,4% (+1,9 pp. y-o-y)  1 220 flats presold by Budimex Nieruchomosci (+9% y-o-y) Construction & assembly producti

  4. Slide 4: 3Q'17: strong bottom line driven by construction segment

    3Q’17: strong bottom line driven by construction segment 1-3Q’17 results summary 3Q'17 3Q'16 ∆ 3Q 3Q'17 ytd 3Q'16 ytd ∆ 3Q ytd Sales 1 832 1 689 142 4 553 4 119 434 y-o-y dynamics 8,4% 10,5% Gross margin 230 195 35 582 495 86 % sales 12,5% 11,6% 1,0 pp. 12,8% 12,0% 0,8 pp. EBIT 177 131 46 426 309 11

  5. Slide 5: 1-3Q'17 sales by segment

    1-3Q’17 sales by segment 1-3Q’17 results summary Construction Developer 4 314 384 1 717 1 607 991 155 129 101 7% 11% 4% 7% 29% 164% 88% 84% 1Q'17 2Q'17 3Q'17 1-3Q'17 1Q'17 2Q'17 3Q'17 1-3Q'17 y-o-y dynamics Other activity Budimex Group 4 553 1 832 1 669 1 053 120 42 42 7% 16% 8% 11% 36 -4% -20% -1%

  6. Slide 6: 1-3Q'17 gross margin by segment

    1-3Q’17 gross margin by segment 1-3Q’17 results summary Construction Developer 14,1% 9,8% 11,2% 11,3% 19,4% 20,6% 20,8% 20,4% 489 78 192 140 157 26 32 56% -7% 5% 11% 20 4% 80% 78% 52% 1Q'17 2Q'17 3Q'17 1-3Q'17 1Q'17 2Q'17 3Q'17 1-3Q'17 % sales Other activity y-o-y dynamics Budimex Group 12,8% 14,2%

  7. Slide 7: 1-3Q'17 EBIT by segment

    1-3Q’17 EBIT by segment 1-3Q’17 results summary Construction Developer 9,6% 7,2% 8,6% 8,3% 11,1% 15,5% 15,3% 14,3% 358 55 147 116 95 20 24 116% 8% 15% 28% 11 -1% 171% 157% 96% 1Q'17 2Q'17 3Q'17 1-3Q'17 1Q'17 2Q'17 3Q'17 1-3Q'17 % sales Other activity y-o-y dynamics Budimex Group 7,5% 7,3% 6,8% 7,2%

  8. Slide 8: Net cash evolution in Budimex Group

    Net cash evolution in Budimex Group Group results +343 M 2 596 +329 M +183 M 2 295 2 127 2 025 2 017 1 810 1 784 1 716 1 761 1 481 1 471 1 288 12'14 03'15 06'15 09'15 12'15 03'16 06'16 09'16 12'16 03'17 06'17 09'17 All figures in M PLN, unless stated otherwise 8 © Controlling Office

  9. Slide 9: Construction segment

    Construction segment Construction segment Construction results (M PLN)  Construction segment sales increased by 7% 1-3Q'17 y-o-y dynamics y-o-y fostered by growth in general construction Sales 4 314 7%  Operating profitability reached 8,3% (improvement of 1,4 pp y-o-y) despite tough Gross margin 4

  10. Slide 10: Material prices evolution

    Material prices evolution Construction segment Concrete (1Q’10 = 100) Reinforcement steel (1Q’10 = 100) 160 160 140 140 128 123 120 120 100 100 80 80 60 60 3Q'10 3Q'11 3Q'12 3Q'13 3Q'14 3Q'15 3Q'16 3Q'17 3Q'10 3Q'11 3Q'12 3Q'13 3Q'14 3Q'15 3Q'16 3Q'17 Asphalt (1Q’10 = 100) Diesel oil (1Q’10 = 100) 1

  11. Slide 11: Contracts signed in Budimex Group

    Contracts signed in Budimex Group Construction segment Annual data 1-3Q data 7 105 170 2% 217 6 310 3% 12% 5 691 758 460 74 2 070 8% 1% 73 4 477 29% 1% 4 136 32% 153 2 039 396 49% 2 766 16 1 059 65% 1 851 4 649 1 913 55% 3 439 42% Share 2 392 1 873 1 352 01-12'14 01-12'15 01-12'16 01-09'16 01-09'17

  12. Slide 12: Backlog in Budimex Group

    Backlog in Budimex Group Construction segment 9 281 8 930 12% 8 421 13% 1 071 10% 1 151 849 11% 2% 136 2% 1 056 187 31% 6 107 29% 1 894 22% 2 592 14% 831 2 854 7% 442 2 068 34% 65% 57% 46% 5 491 5 051 4 300 Share 45% 2 765 12'14 12'15 12'16 09'17 Infrastructure General construction Railway Industria

  13. Slide 13: Developer segment in 1-3Q'17

    Developer segment in 1-3Q’17 Developer segment Developer segment results (M PLN)  Developer segment sales soared by 84% driven 1-3Q'17 y-o-y dynamics by 123% growth in notary sales Sales 384 84%  Presales volume increased by 9% y-o-y Gross margin 78 52%  Land bank expansion to 8,1 ths flats (vs.

  14. Slide 14: Budimex Nieruchomosci offer

    Budimex Nieruchomosci offer Developer segment Offer as at 09’17 (number of flats) presold 3 647 not presold 3 194 Tricity Warsaw 2 921 114 162 2 480 Poznan 154 Cracow 296 453 441 714 726 12 Finished flats Under construction Total offer Under construction: 3 194 flats Land bank: 8 130 flats All figur

  15. Slide 15: Other activities segment

    Other activities segment Other activities segment Other activities segment results (M PLN)  Other activities noted a slight 4% y-o-y drop in 1-3Q'17 y-o-y dynamics sales due to lower volumes in Elektromontaż Sales 120 -4% Poznań Gross margin 16 -5%  Segment generated strong 7,2% operating 13,4% -0

  16. Slide 16: Budimex market value

    Budimex market value Budimex on Warsaw Stock Exchange Shareholding structure Ferrovial Group WSE symbol BDX 32,7% Number of shares 25 530 098 Aviva OFE 52 week min/max 192 / 284 PLN 55,1% NN OFE 52 week average volume 10,3 ths. shares 5,4% 9,2% Other Market value as of 30.09’17 11% 284% -17% -3% 12%

  17. Slide 17: sense of creating

    budimex sense of creating

Budimex — 1-3Q 2017 Earnings Presentation on 6ix