Ferrovial N.v. · BME:FER

Ferrovial — FY2014 Earnings Presentation

20 slides from Ferrovial's earnings presentation, February 2015

  1. Slide 1: Investing for Growth - FY 2014 Results

    ferrovial Investing for Growth FY 2014 Results

  2. Slide 2: Disclaimer

    Disclaimer This document may contain statements that constitute forward looking statements about the Company. These statements are based on financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations, which refer to estimates regardin

  3. Slide 3: Agenda

    Agenda • 2014 Highlights • Business Units • Financial Results • Looking Ahead 3 E-mail: ir@ferrovial.es – Tel: +34 91 586 27 30

  4. Slide 4: 2014 Highlights

    2014 Highlights  €30bn record backlog Growth  NTE 1-2 (Texas) highway opening  Traffic growth across portfolio  >€1bn operating cash flow Cash • 55% dividend from infra projects Ex-infra projects  €510mn remuneration to shareholders  €1.6bn net cash position Actively looking for  Aberdeen, Gl

  5. Slide 5: 2014 results & backlog

    2014 Highlights 2014 results & backlog € million 2014 Var % Revenue 8,802 +8%  EBITDA 983 +5%  Net Income 402 -45%  EX–INFRA PROJECTS Operating cash flow 1,076 +3%  Net cash position 1,632 -3% Construction backlog 8,091 +3%  Services backlog 22,369 +20%  Strength & Visibility 5 E-mail: ir@ferr

  6. Slide 6: Agenda

    Agenda • 2014 Highlights • Business Units • Financial Results • Looking Ahead 6 E-mail: ir@ferrovial.es – Tel: +34 91 586 27 30

  7. Slide 7: Business units: Toll roads

    Business units: Toll roads € million 2014 %  €255mn dividends from projects Revenues 432 +0.6% ETR €224mn, other assets €31mn EBITDA 257 -7%  Traffic growth across our portfolio Canada, US & Europe (Ireland, Portugal and Spain)  NTE Managed Lanes opening Traffic evolution 4th Oct (9 months ahead

  8. Slide 8: Business units: 407ETR and NTE

    Business units: 407ETR NTE CAD million USD 407-ETR NTE 1-2 Texas Equity method, Ferrovial stake 43% 56.7% Global consolidation  Traffic & EBITDA above expectations  Traffic in line with expectations so far  Dividend up by +7%  Double digit growth in monthly Revenues +11% revenues  Promotional t

  9. Slide 9: Business units: Services

    Business units: Services € million 2014 %  € 302mn operating cash flow (OCF) Revenues 4,401 +20% EBITDA 387 +21%  Largest division by revenues, EBITDA, OCF EBITDA % 8.8% =  Strong growth in Spain & UK Backlog 22,369 +20% Combined organic growth +8.7%  Enterprise integration completed Performance

  10. Slide 10: Business units: Construction

    Business units: Construction € million 2014 %  €236mn operation cash flow (OCF) Revenues 3,942 -3%  Improved profitability EBITDA 349 +2% Driven by Budimex (Poland) and Webber (US) EBITDA % 8.8% +40bp  Strong growth in Poland Backlog 8,091 +2.9% Backlog +41% LfL Operating cash flow 298 304 236 10

  11. Slide 11: Business units: HAH (Heathrow)

    Business units: HAH (Equity method, FERROVIAL stake 25.0%) 100% GBP million 2014 %  Over GBP1bn dividend to shareholders Revenues 2,692 +9% (GBP670mn following AGS divestiture) EBITDA 1,541 +13%*  Heathrow T2 opened June 4th (c.350 flights per day) EBITDA % 57.2% +180pb Net debt 12,978 +2.3%  Hea

  12. Slide 12: Agenda

    Agenda • 2014 Highlights • Business Units • Financial Results • Looking Ahead 12 E-mail: ir@ferrovial.es – Tel: +34 91 586 27 30

  13. Slide 13: Highest operating cash flow since 2009

    Financial Results: Highest operating cash flow since 2009 € million Excluding Infrastructure Projects Sources & Uses BALANCED CONTRIBUTION OPERATING CASH FLOW 2014 Construction 236 Construction Services 302 21% 31% Toll Roads (dividends) 255 Service Airports (dividends) 341 26% Toll Roads 22% Taxes

  14. Slide 14: Net debt evolution

    Financial Results: Net debt evolution € million Excluding infrastructure projects 1.675 1.632 594 615 7 -68 -70 -557 -565 Net cash Dec'13 EBITDA ex infra Provision release WC Construction & Dividends from Net Investment Dividends paid Interest, Taxes & Net cash Dec'14 projects Services projects Othe

  15. Slide 15: 2014 Profit & Loss

    Financial Results: 2014 Profit & Loss € million TOTAL VAR. % Net Revenue 8,802 +8% EBITDA 983 +5% Depreciations (244) +5% EBIT 738 +5% Net Financial Result (377) -14% Equity accounted 138 -63% EBT 504 Taxes (152) Minorities 50 NET PROFIT 402 -45% 15 E-mail: ir@ferrovial.es – Tel: +34 91 586 27 30

  16. Slide 16: Agenda

    Agenda • 2014 Highlights • Business Units • Financial Results • Looking Ahead 16 E-mail: ir@ferrovial.es – Tel: +34 91 586 27 30

  17. Slide 17: Shareholder remuneration

    Looking ahead: Shareholder remuneration € /share Shareholder remuneration 2014* 2014 Scrip dividend equivalent to 2013 complementary dividend (paid Jul’14) 0.291 Scrip dividend equivalent to 2014 interim dividend (paid Nov’14) 0.381 TOTAL 0.672 Share buyback: 15,01 m shares 2015 Shareholder remunera

  18. Slide 18: Looking ahead

    Looking ahead Operating CF Solid financial Highest ever Backlog diversification position Canada UK Poland €30bn 21% 48% 10% €1.6bn Net cash (45 months of activity) Spain RoW 15% 6% Attractive High quality assets shareholder Active pipeline remuneration Scrip dividend US /Australia /Canada Strong div

  19. Slide 19: Q&A Session

    Q&A Session 19 E-mail: ir@ferrovial.es – Tel: +34 91 586 27 30

  20. Slide 20: Investor Relations Department

    ferrovial INVESTOR RELATIONS DEPARTMENT - C/ Príncipe de Vergara, 135 - 28002 MADRID (Spain) T: +34 91 586 27 30 F: +34 91 586 28 69 e-mail: ir@ferrovial.es website: www.ferrovial.com

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