Budimex Sa · GPW:BDX

Budimex Sa — Q1 2017 Earnings Presentation

15 slides from Budimex Sa's earnings presentation, 2017

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

    sense of creating Investor Presentation 1Q’17 financial results

  2. Slide 2: Budimex Group structure

    Budimex Group structure 1Q’17 results summary 1Q’17 sales 1Q’17 EBIT Internal eliminations (% Group sales) (% Group EBIT) -80 M PLN 1 M PLN -8% 1% 1 053 M PLN 110 M PLN Construction segment Developer segment Other activities 991 M PLN 95 M PLN 101 M PLN 11 M PLN 42 M PLN 37M M PLN PLN 94% 87% 10% 10

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

    1Q’17 at a glance 1Q’17 results summary  383 M PLN highest ever dividend recommended (+85% y-o-y)  Historic order backlog of 9,3 bn PLN (+2% y-o-y)  Excellent EBIT profitability at 10,5% (+4,1 pp. y-o-y)  392 flats presold by Budimex Nieruchomosci (+24% y-o-y) Construction & assembly production

  4. Slide 4: 1Q'17: strong top-line and impressive 10,5% EBIT

    1Q’17: strong top-line and impressive 10,5% EBIT 1Q’17 results summary 1Q'17 1Q'16 ∆ FY'16 FY'15 Sales 1 053 988 65 5 572 5 134 y-o-y dynamics 6,6% 16,7% -10,1 pp. 8,5% 3,7% Gross margin 163 115 48 751 493 % sales 15,5% 11,6% 3,8 pp. 13,5% 9,6% SG&A -60 -57 -4 -231 -220 % sales -5,7% -5,7% 0,0 pp. -

  5. Slide 5: Net cash evolution in Budimex Group

    Net cash evolution in Budimex Group 1Q’17 results summary -579 M -270 M 2 596 +45 M 2 295 2 127 2 025 2 017 1 810 1 716 1 761 1 784 1 481 12'14 03'15 06'15 09'15 12'15 03'16 06'16 09'16 12'16 03'17 All figures in M PLN, unless stated otherwise 5 © Controlling Office

  6. Slide 6: Construction: strong profitability

    Construction: strong profitability Construction segment Construction results (M PLN)  1Q’17 construction segment generated 1Q'17 y-o-y dynamics 991 M PLN sales (+7% y-o-y) achieving 14,1% gross margin and healthy net profit Sales 991 7%  Backlog grew to historic 9,3 bn PLN Gross margin 140 56% % s

  7. Slide 7: Material prices evolution

    Material prices evolution Construction segment Concrete (1Q’10 = 100) Reinforcement steel (1Q’10 = 100) 160 160 140 140 120 117 120 120 100 100 80 80 60 60 1Q'10 1Q'11 1Q'12 1Q'13 1Q'14 1Q'15 1Q'16 1Q'17 1Q'10 1Q'11 1Q'12 1Q'13 1Q'14 1Q'15 1Q'16 1Q'17 Asphalt (1Q’10 = 100) Diesel oil (1Q’10 = 100) 1

  8. Slide 8: Contracts signed in Budimex Group

    Contracts signed in Budimex Group Construction segment Annual data Quarterly data Additional contracts pending (bn PLN) 7 105 17% 170 217 6 310 +1,5 5 691 bn PLN 758 460 74 2 070 83% 73 2 039 2 766 4 649 1 485 1 269 3 439 25 2 392 332 50 407 1 152 786 01-12'14 01-12'15 01-12'16 01-03'16 01-03'17 Inf

  9. Slide 9: Backlog reached record-high level 9,3 bn PLN

    Backlog reached record-high level 9,3 bn PLN Construction segment 9 305 8 930 8 421 1 115 12% 1 151 13% 849 168 10% 2% 136 1% 187 2% 6 107 28% 28% 2 522 831 1 894 2 592 22% 14% 7% 442 2 068 34% 60% 56% 5 491 5 500 5 051 45% Share 65% 2 765 12'14 12'15 12'16 03'17 Infrastructure General construction

  10. Slide 10: Strong 1Q'17 sales due to high notary sales

    Strong 1Q’17 sales due to high notary sales Developer segment Developer segment results (M PLN)  Developer segment noted strong quarter 1Q'17 y-o-y dynamics handing-over 409 flats to clients Sales 101 29%  Presales volume soared by 24% y-o-y Gross margin 20 4% 19,4% -4,6 pp.  Lower margins y-o-y

  11. Slide 11: Budimex Nieruchomosci project portfolio

    Budimex Nieruchomosci project portfolio Developer segment Offer as at 03’17 (number of flats) presold 4 430 not presold 3 893 Land bank: 1 258 1 239 6 821 flats 3 172 Under construction: 2 654 537 19 3 893 flats 518 Finished flats Under construction Total offer Not presold flats Portfolio diversific

  12. Slide 12: Other activities segment

    Other activities segment Other activities segment Other activities segment results (M PLN)  Other activities noted a 20% y-o-y drop in sales 1Q'17 y-o-y dynamics due to lower volumes in Elektromontaż Poznań Sales 42 -20%  Segment generated 7,5% operating profitability Gross margin 5 -38% 12,8% -3,

  13. Slide 13: 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 55,1% 52 week min/max 168 / 275 PLN NN OFE 5,4% 52 week average volume 11,4 ths. shares 6,7% Other Market value as of 31.03’17 24% 487% 12% 30% 23%

  14. Slide 14: Dividend track record

    Dividend track record Budimex on Warsaw Stock Exchange Dividends paid by Budimex 1 996* 78,2 M PLN PLN per share Dividends per share paid by Budimex (PLN per share & dividend yield) 383 * 303 (4,2%) 280 232 208 Dividend Dividend 174 149 156 112 Dividend per share 5,84 6,80 9,08 10,97 4,39 11,85 6,11

  15. Slide 15: sense of creating

    budimex sense of creating

Budimex — Q1 2017 Earnings Presentation on 6ix