32 slides from Construcciones Y Auxiliar De Ferrocarriles's earnings presentation, Jul 31, 2024
Slide 1: First Half-Year 2024 Results
www.caf.net FIRST HALF-YEAR 2024 RESULTS 31 July 2024
Slide 2: Legal Notice
LEGAL NOTICE THIS DOCUMENT HAS BEEN PREPARED FOR INFORMATION PURPOSES ONLY The information contained in this document has not Therefore, on no account should it be construed as Any decision made by third parties as a result of the been verified by independent third parties; advice or recommendation
Slide 3: Contents
CONTENTS 1. H1 2024 HIGHLIGHTS 2. FINANCIAL INFORMATION 3. STOCK MARKET INFORMATION 4. SUSTAINABILITY 5. OUTLOOK 6. APPENDICES 3
Slide 4: H1 2024 Highlights
/1 H1 2024 HIGHLIGHTS 4
Slide 5: Key Figures
1. H1 2024 Highlights / 1.1 Key Figures ORDER INTAKE BACKLOG REVENUE High order intake in Q2 2024, with a book-to-bill €1,723m €13,843m €2,080m ratio of 0.8 for the half-year period -12% -3% +11% vs. H1 2023 vs 31/12/2023 vs. H1 2023 Around €170m worth of additional contract awards awaiting signatur
Slide 6: Significant achievements in key activities and countries
1. H1 2024 Highlights / 1.1 Key Figures / 1.2 Milestones Achieved SIGNIFICANT ACHIEVEMENTS IN KEY ACTIVITIES AND COUNTRIES / CAF STRENGTHENS ITS SIGNALLING BUSINESS IN SPAIN / SOLARIS HAS BEEN CHOSEN IN FRANCE TO SUPPLY AND THE UNITED KINGDOM HYDROGEN BUSES Success in Spain with various signalling c
Slide 7: High order intake in the second quarter
1. H1 2024 Highlights / 1.1 Key Figures / 1.2 Milestones Achieved / 1.3 Order Intake HIGH ORDER INTAKE IN THE SECOND QUARTER AND A SIGNIFICANT AMOUNT OF OPPORTUNITIES STILL TO MATERIALISE IN THE YEAR / TOTAL (€m) / ORDER INTAKE DISTRIBUTION BY ACTIVITY LINE (%) The order intake of medium-sized proje
Slide 8: Main orders announced and signed in Q2 2024
1. H1 2024 Highlights / 1.1 Key Figures / 1.2 Milestones Achieved / 1.3 Order Intake (cont.) Main orders announced and signed in Q2 2024 / METRO UNITS FOR OSLO (NORWAY) / OMAHA TRAMS (USA) • Twenty 3-car metro trains, along with their corresponding spare parts. • Six 3-module URBOS platform trams. •
Slide 9: The backlog continues to provide broad visibility of future activity
1. H1 2024 Highlights / 1.1 Key Figures / 1.2 Milestones Achieved / 1.3 Order Intake / 1.4 Backlog THE BACKLOG CONTINUES TO PROVIDE BROAD VISIBILITY OF FUTURE ACTIVITY / TOTAL (€m) Slight downward adjustment of the backlog as execution extends beyond order intake for the period. Buses Railway The cu
Slide 10: Increase in Spain's contribution to the backlog
1. H1 2024 Highlights / 1.1 Key Figures / 1.2 Milestones Achieved / 1.3 Order Intake / 1.4 Backlog INCREASE IN SPAIN’S CONTRIBUTION TO THE BACKLOG / BACKLOG DISTRIBUTION BY ACTIVITY LINE (%) / BACKLOG DISTRIBUTION BY GEOGRAPHY (%) Integrated Solutions and Rest of the Systems world Spain APAC 8% 12%
Slide 11: Financial Information
/2 FINANCIAL INFORMATION 11
Slide 12: Double-digit growth, improved operational profitability and increase in results
2. Financial Information / 2.1 Consolidated Statement of Profit or Loss DOUBLE-DIGIT GROWTH, IMPROVEMENT IN OPERATIONAL PROFITABILITY AND SIGNIFICANT INCREASE IN RESULTS Var. H1 (EUR million) H1 2023 H1 2024 2024/H1 2023 Double-digit growth in consolidated REVENUE 1,877 2,080 +11% revenue, driven by
Slide 13: Good revenue progress, in line with the execution programme
2. Financial Information / 2.1 Consolidated Statement of Profit or Loss GOOD REVENUE PROGRESS, IN LINE WITH THE EXECUTION PROGRAMME REVENUE / CONSOLIDATED / RAILWAY / BUSES +11% +15% -3% 1,877 2,080 1,429 1,647 448 433 H1 2023 H1 2024 H1 2023 H1 2024 H1 2023 H1 2024 % on revenue % on revenue % on re
Slide 14: Increase in revenue across all lines of business
2. Financial Information / 2.1 Consolidated Statement of Profit or Loss INCREASE IN REVENUE ACROSS ALL LINES OF BUSINESS RAILWAY REVENUE / ROLLING STOCK / SERVICES / INTEGRATED SOLUTIONS AND SYSTEMS +6% +11% +48% 865 916 282 314 282 417 H1 2023 H1 2024 H1 2023 H1 2024 H1 2023 H1 2024 % on revenue 46
Slide 15: Strong backlog execution in the first half of the year
2. Financial Information / 2.1 Consolidated Statement of Profit or Loss STRONG BACKLOG EXECUTION IN THE FIRST HALF OF THE YEAR, PAVING THE WAY FOR A HISTORIC YEAR-END IN TERMS OF DELIVERIES BUS REVENUE / No. OF BUSES DELIVERED / No. OF BUSES IN BACKLOG 725 buses were delivered in the first half of 2
Slide 16: Significant increase in results and profitability improvement
• Substantial improvement in EBIT and significant progress with regards to 2. Financial Information / 2.1 Consolidated Statement of Profit or Loss profitability, confirming the gradual recovery. SIGNIFICANT INCREASE IN RESULTS AND PROFITABILITY IMPROVEMENT, DRIVEN BY THE POSITIVE CONTRIBUTION OF SOL
Slide 17: Cash generation in line with projections
2. Financial Information / 2.1 Consolidated Statement of Profit or Loss / 2.2 Cash flow CASH GENERATION IN LINE WITH PROJECTIONS AT THE START OF THE FINANCIAL YEAR / EBITDA-CASH FLOW BRIDGE (€m) 17
Slide 18: Financial stability in the first half of the year
2. Financial Information / 2.1 Consolidated Statement of Profit or Loss / 2.2 Cash flow / 2.3 Consolidated balance sheet FINANCIAL STABILITY IN THE FIRST HALF OF THE YEAR (EUR million) 31/12/2023 30/06/2024 / CAPEX (TANGIBLE + INTANGIBLE) (€m) Fixed Assets 1,371 1,321 Working Capital (74) 14 40 29 N
Slide 19: NFD/EBITDA ratio remains unchanged
2. Financial Information / 2.1 Consolidated Statement of Profit or Loss / 2.2 Cash flow / 2.3 Consolidated Balance Sheet / 2.4 Financial Position NFD/EBITDA RATIO REMAINS UNCHANGED / NET FINANCIAL DEBT (€m) / LIQUIDITY (€m) 1000 2 800 1,5 600 0.9X 0.9X 1 956 926 400 256 284 Net Financial Debt (€m) 0
Slide 20: Stock Market Information
/3 STOCK MARKET INFORMATION 20
Slide 21: Analyst consensus recommends buying with potential greater than 25%
3. Stock market information ANALYST CONSENSUS RECOMMENDS BUYING WITH A POTENTIAL GREATER THAN 25% AFTER HAVING RISEN MORE THAN 10% IN H1 2024 / CAF PERFORMANCE vs IBEX AND SECTOR1 / STOCK MARKET INDICATORS / SHAREHOLDING STRUCTURE 115 Cartera 30/06/2024 Social Sector 110 CAF 35 IBEX Market capitaliz
Slide 22: Sustainability
/4 SUSTAINABILITY 22
Slide 23: Significant progress in our commitment to sustainability
4. Sustainability SIGNIFICANT PROGRESS IN OUR COMMITMENT TO SUSTAINABILITY, IN ACCORDANCE WITH THE 2026 STRATEGIC PLAN1 / MOST SIGNIFICANT MILESTONES / RESULTS / PUBLICATION OF THE FIRST GREEN / REVISION OF THE SUPPLIER CODE / RATING AGENCIES AND SUSTAINABLE FINANCING OF CONDUCT FRAMEWORK / CAF has
Slide 24: Outlook
/5 OUTLOOK 24
Slide 25: No changes in the outlook for 2024
5. Outlook NO CHANGES IN THE OUTLOOK FOR 2024 / 20241 Book-to-bill > ≥1 Selective Order intake Revenue > Approximately +10% vs 2023 EBIT Net profit > Improved profitability vs. 2023 Dividend > In line with the development of results NFD/EBITDA ratio > Stability compared to 2023 SUSTAINABILITY > Redu
Slide 26: Appendices
/6 APPENDICES 26
Slide 27: Contracts announced and included in the backlog Jan-June 2024
6. Appendices / 6.1 Breakdown of order intake CONTRACTS ANNOUNCED AND INCLUDED IN THE BACKLOG WITHIN THE PERIOD FROM JANUARY-JUNE 2024 DATE PROJECT COUNTRY BUSINESS/ACTIVITY DESCRIPTION TYPE CUSTOMER ADDITIONAL OPTIONS AMOUNT Q1 2024 Qbuzz The Netherlands Railway / Rolling stock The supply of 10 Civ
Slide 28: Net Equity Bridge
6. Appendices / 6.1. Breakdown of order intake / 6.2 Additional Financial Information NET EQUITY BRIDGE (EUR million) 1 1 This includes an ordinary gross dividend of €1.11/share paid in July 2024. 28
Slide 29: Responsible Management Scorecard
6. Appendices / 6.1. Breakdown of order intake / 6.2 Additional Financial Information / 6.3 Responsible Management Scorecard RESPONSIBLE MANAGEMENT SCORECARD Actual Target Actual INDICATORS Rating FY23 FY24 H1 2024 Annual CO2 emission reduction (%) Scope 1&2 (base year 2019, SBTi) 32.6% 21.0%* indic
Slide 30: Alternative Performance Measures (APM)
ALTERNATIVE PERFORMANCE MEASURES (APM) In addition to the financial information prepared in accordance with the generally accepted accounting principles (GAAP), the CAF Group uses specific Alternative Performance Measures (APM) in the management of its business on a recurring and consistent basis, w
Slide 31: Agenda
AGENDA / CONFERENCES AND ROADSHOWS / 5 September 2024 → Iberian Conference Caixabank-BPI (Madrid) / 10 September 2024 → UBS Quo Vadis Industrials (Digital) / 11 September 2024 → Autumn Conference Kepler Cheuvreux (Paris) / 1-2 October 2024 → ODDO BHF Iberian Digital Forum (Digital) / 19 November 202
Slide 32: Trust in Motion
TRUST IN MOTION