Ferrovial N.V. · BME:FER
Ferrovial — 9M 2021 Earnings Presentation
25 slides from Ferrovial's earnings presentation, October 2021
Slide 1: 9M 2021 Financial Results
9M 2021 FINANCIAL RESULTS For a world on the move October 2021 1
Slide 2: Disclaimer
9M 2021 financial information included in this presentation has been impacted by the COVID-19 outbreak, which affects the company’s performance since the second half of March 2020. Given the uncertainty regarding the speed and extent of the resumption in activity, it is not possible to predict how t
Slide 3: 9M 2021 highlights
• • • • • • • • • • • • • • • • • • • • • • October 2021 3
Slide 4: Strong growth from US managed lanes
STRONG GROWTH FROM US MANAGED LANES • • • • • • • • • • • • • • • • • • • • October 2021 4
Slide 5: Dallas Fort Worth – NTE & NTE 35W traffic outperforming pre-COVID levels
DALLAS FORT WORTH – NTE & NTE 35W TRAFFIC OUTPERFORMING PRE-COVID LEVELS; LBJ KEEPS IMPROVING TRAFFIC EVOLUTION YTD NTE: NTE 35W: 2 2 4 3 4 3 1 1 LBJ: 4 2 3 1 October 2021 5
Slide 6: Managed lanes – revenue outperformance vs. pre-COVID levels
MANAGED LANES – REVENUE OUTPERFORMANCE VS. PRE-COVID LEVELS IN MOST ASSETS TRAFFIC & REVENUE RECOVERY (INDEX 100 = FEB 2020*) NTE 35W: NTE: LBJ: I-77: Traffic Revenues October 2021 6
Slide 7: DFW managed lanes – revenue/transaction growth
DFW MANAGED LANES –REVENUE/TRANSACTION GROWTH; BOUNCING BACK IN SEPTEMBER AFTER SURGE IN COVID CASES 9M 2021 PERFORMANCE TRAFFIC PERFORMANCE • • • AVG REVENUE PER TRANSACTION REGION UPDATE • • • • • • • • • • October 2021 7
Slide 8: I-77 – beating expectations
I-77 – BEATING EXPECTATIONS 9M 2021 PERFORMANCE TRAFFIC • • REVENUES REGION UPDATE • • • • • • • • • October 2021 8
Slide 9: I-66: increasing exposure to Virginia managed lanes
I-66: INCREASING EXPOSURE TO VIRGINIA MANAGED LANES (5.7% ADDITIONAL STAKE) ASSET DESCRITION: TRANSACTION DETAILS: • • • • • • • • • • • • FAIRFAX COUNTY: REGION WITH HIGH CONGESTION LEVELS, GOOD ECONOMIC PROSPECTS & HIGH INCOME LEVELS • BRAMBELTON RESTON • ~ • • WASHINGTON ARLINGTON FAIRFAX COUNTY
Slide 10: Toronto – steady traffic recovery with mobility restrictions
TORONTO – STEADY TRAFFIC RECOVERY WITH MOBILITY RESTRICTIONS UNCHANGED SINCE MID-JULY 407ETR TRAFFIC EVOLUTION YTD* 2 1 3 C C C C • • • October 2021 10
Slide 11: Toronto – population's health: the priority over economic recovery
TORONTO – POPULATION'S HEALTH: THE PRIORITY OVER ECONOMIC RECOVERY Prudent approach to mobility restrictions despite high vaccinations rates: 82% of population fully vaccinated (Oct 4) MOBILITY TO/FROM WORKPLACES: -44% vs 2019 DAYS OF SCHOOL FULLY CLOSED (MARCH 2020-SEPT 2021) +80% +40% Baseline -40
Slide 12: 407 ETR – dividends resumed
407 ETR – DIVIDENDS RESUMED 9M 2021 PERFORMANCE FINANCIAL POSITION • • • • SCHEDULE 22 • • • • • • • • • • TOLL RATES • DIVIDENDS • • October 2021 12
Slide 13: Heathrow – steady build in traffic over the quarter
HEATHROW – STEADY BUILD IN TRAFFIC OVER THE QUARTER 9M 2021 PERFORMANCE (vs. 9M 2020) FINANCIAL POSITION: £4.1bn liquidity • • • • • • • the waiver of the ICR covenant 2021 at Heathrow Finance was approved by creditors TRAFFIC IMPROVING EFFICIENCY & RESILIENCE: • • • • • • • • • • • • • October 2021
Slide 14: Heathrow – coming up next
HEATHROW – COMING UP NEXT OUTLOOK REGULATION • • • • • • • • • • • • • EXPANSION • • • • • • • • • October 2021 14
Slide 15: AGS – traffic weakness though strong response
AGS – TRAFFIC WEAKNESS THOUGH STRONG RESPONSE 9M 2021 PERFORMANCE (vs. 9M 2020) LIQUIDITY • • • • TRAFFIC IMPROVING EFFICIENCY & RESILIENCE • • • • • • • • • • October 2021 15
Slide 16: Construction – Budimex remains outperforming; non-core asset sales completed
CONSTRUCTION – BUDIMEX REMAINS OUTPERFORMING; NON-CORE ASSET SALES COMPLETED 9M 2021 PERFORMANCE NON-CORE ASSET SALES • • • • • • ORDER BOOK • • • • • • BUDIMEX STRENGTH OUTLOOK • • • • October 2021 16
Slide 17: Services divestment – another step completed
SERVICES DIVESTMENT – ANOTHER STEP COMPLETED INFRASTRUCTURE SERVICES IN SPAIN ENVIRONMENTAL SERVICES IN SPAIN & PORTUGAL • • • • • • • • • REST OF PROCESSES ADVANCING • • • • • • • • • • • October 2021 17
Slide 18: Services (discontinued activity) – improved profitability
SERVICES (discontinued activity) – IMPROVED PORFITABILITY WITH SPAIN OUTPERFORMING 2019 LEVELS SPANISH INFRA RELATED ACTIVITIES TO KEEP OPERATING IN FER 9M 2021 HIGHLIGHTS • • • • • 9M 2020 9M2021 October 2021 18
Slide 19: Sustainability remains at the core of our strategy
SUSTAINABILITY REMAINS AT THE CORE OF OUR STRATEGY HIGHLIGHTS 9M 2021 AWARDS • • • • • • • • • • • • SUSTAINABILITY INDICES • • October 2021 19
Slide 20: Consolidated P&L
CONSOLIDATED P&L 9M 2021 HIGHLIGHTS • • • • • • • • • • • October 2021 20
Slide 21: Net debt evolution (ex-infrastructure) including discontinued activities
NET DEBT EVOLUTION (EX-INFRASTRUCTURE) INCLUDING DISCONTINUED ACTIVITIES * EBITDA excludes contribution from projects, but it includes EBITDA from discontinued activities. October 2021 21
Slide 22: Ferrovial to acquire minority stake in IRB (India)
FERROVIAL TO ACQUIRE* MINORITY STAKE IN IRB (INDIA) - SELECTIVE INVESTMENT ON PROFITABLE GROWTH TRANSACTION OVERVIEW • FER will acquire* a stake (up to 24.9%) in IRB Infrastructure Developers following Horizon 24 strategic plan, to pursue selective investments in new geographies • IRB is a leading I
Slide 23: Capital allocation – on the road to Horizon
CAPITAL ALLOCATION – ON THE ROAD TO HORIZON 24 • Higher exposure to I-66 • NTE3C under construction • Potential new US Managed Lanes projects • Prequalified in 3 projects • FER will acquire a minority stake in IRB Infrastructure Developers (India) • Explore new sustainable infra related opportunitie
Slide 24: Q&A
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Slide 25: Investor Relations contact
For a world on the move INVESTOR RELATIONS DEPARTAMENT Ferrovial Corporacién, S.A. Principe de Vergara, 135 28002 Madrid (Spain) Tel. +34 91586 2730 Fax +34 91586 28 69 e-mail: ir@ferrovial.com website: www.ferrovial.com ¢ : iG Dow Jones Ww - Sustainability FTSE4Good TOP RATED iO} CD DRIVING SUSTAIN