Construcciones Y Auxiliar De Ferrocarriles, S.a. · BME:CAF

Construcciones Y Auxiliar De Ferrocarriles — CAF — FY2025 Earnings Presentation

41 slides from Construcciones Y Auxiliar De Ferrocarriles's earnings presentation, Feb 27, 2026

  1. Slide 1: Full Year Results 2025

    FULL YEAR RESULTS 2025 www.cafmobility.com 27 February 2026

  2. Slide 2: Legal Notice

    LEGAL NOTICE THIS DOCUMENT HAS BEEN PREPARED FOR INFORMATION PURPOSES ONLY The information contained in this document has not Therefore, under no circumstances should it be been verified by independent third parties; construed as advice or recommendation to buy, sell accordingly, no guarantee, eithe

  3. Slide 3: Contents

    www.cafmobility.com CONTENTS 1/ HIGHLIGHTS 2025 4 2/ FINANCIAL INFORMATION 9 3/ STOCK MARKET INFORMATION 28 4/ SUSTAINABILITY 30 5/ OUTLOOK 32 6/ APPENDICES 35 TRUST IN MOTION 3 3

  4. Slide 4: 1/ Highlights 2025

    1/ HIGHLIGHTS 2025 www.cafmobility.com 4

  5. Slide 5: CAF achieves the 2025 targets across all key metrics

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES CAF ACHIEVES THE 2025 TARGETS ACROSS ALL KEY METRICS OUTLOOK 2025 ACTUAL 2025 ✓ ≥1 Btb=1.3 Book-to-bill Focus on key markets and other opportunities Selective order intake ali

  6. Slide 6: CAF secures the largest contract in its history

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES SIGNIFICANT MILESTONES CAF SECURES THE LARGEST CONTRACT IN ITS HISTORY CAF IS AWARDED THE SIGNIFICANT CONTRACT TO SUPPLY THE NEW TRAIN FLEET FOR BELGIAN OPERATOR SNCB / Framew

  7. Slide 7: First fully automated metro projects with proprietary CBTC signalling system

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES SIGNIFICANT MILESTONES FIRST FULLY AUTOMATED METRO PROJECTS WITH PROPRIETARY CBTC SIGNALLING SYSTEM(1) THE CONSORTIUM LED BY CAF AWARDED CAF TO MODERNISE THE HELSINKI METRO TH

  8. Slide 8: First bus projects in North America currently under execution

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES SIGNIFICANT MILESTONES FIRST BUS PROJECTS IN NORTH AMERICA CURRENTLY UNDER EXECUTION CONTRACT FOR THE SUPPLY OF ELECTRIC CONTRACT FOR THE SUPPLY OF A BUSES TO SEATTLE AND SAN

  9. Slide 9: 2/ Financial Information

    2/ FINANCIAL INFORMATION Full quarterly and annual historical financial information is available on CAF’s corporate website at the following link: https://www.cafmobility.com/en/shareholders-investors/economic-financial-information/key-figures/ www.cafmobility.com 9

  10. Slide 10: Strong performance, reinforcing current and future value creation

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.1 KEY FIGURES STRONG PERFORMANCE, REINFORCING CURRENT AND FUTURE VALUE CREATION Order intake Revenue Book-to-bill Backlog / Record order intake and all-time high €6,027m €4,

  11. Slide 11: Record order intake reflecting market strength and strong positioning

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.2 ORDER INTAKE RECORD ORDER INTAKE WHICH REFLECTS MARKET STRENGTH AND OUR STRONG POSITIONING / Acceleration of order Intake in Q4 2025. Order intake in the TOTAL (€m) ORDER

  12. Slide 12: Maximum commercial order intake at Solaris

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.2 ORDER INTAKE MAXIMUM COMMERCIAL ORDER INTAKE AT SOLARIS / Solaris exceeded an order intake of €2.0bn in 2025, with a profile aligned to the company's priorities SOLARIS OR

  13. Slide 13: Increased momentum in rail services order intake

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.2 ORDER INTAKE INCREASED MOMENTUM IN RAIL SERVICES ORDER INTAKE / Contract renewal rate >90% and acquisition of new, high-value contracts RAIL SERVICES ORDER INTAKE (€m) Btb

  14. Slide 14: Order intake in high-recurrence geographies for CAF

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.2 ORDER INTAKE ORDER INTAKE IN HIGH-RECURRENCE GEOGRAPHIES FOR CAF / Main orders announced and signed off in Q4 2025 MAINTENANCE SERVICES IN REGIONAL TRAINS RÉGIOLIS ELECTRI

  15. Slide 15: Order backlog reaches a new all-time high

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.3 ORDER BACKLOG ORDER BACKLOG REACHES A NEW ALL-TIME HIGH / The volume and execution profile of the backlog provide strong visibility for the continuation of the Group’s gro

  16. Slide 16: Increasing contribution of services and bus business to backlog

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.3 ORDER BACKLOG INCREASING CONTRIBUTION OF SERVICES AND THE BUS BUSINESS TO THE ORDER BACKLOG BACKLOG DISTRIBUTION BY ACTIVITY LINE (%) BACKLOG DISTRIBUTION BY GEOGRAPHY (%)

  17. Slide 17: 2025 results confirm continued growth and margin improvement

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.4 CONSOLIDATED STATEMENT OF PROFIT OR LOSS 2025 RESULTS CONFIRM CONTINUED GROWTH AND MARGIN IMPROVEMENT / Net Profit increased significantly, driven by improved financial re

  18. Slide 18: Group sales reach strategic plan organic target one year ahead

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.4 CONSOLIDATED STATEMENT OF PROFIT OR LOSS GROUP SALES REACH THE STRATEGIC PLAN ORGANIC TARGET ONE YEAR AHEAD OF 2026 SCHEDULE / Bus business drives the majority of growth,

  19. Slide 19: Sustained rail growth driven by train manufacturing and services

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.4 CONSOLIDATED STATEMENT OF PROFIT OR LOSS SUSTAINED RAIL GROWTH DRIVEN BY TRAIN MANUFACTURING AND THE PROVISION OF RAIL SERVICES / Sales of Integrated Solutions and Systems

  20. Slide 20: Solaris increased volume of buses delivered

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.4 CONSOLIDATED STATEMENT OF PROFIT OR LOSS SOLARIS INCREASED THE VOLUME OF BUSES DELIVERED, WITH A HISTORIC SHARE OF THE ZERO-EMISSION RANGE / The substantial order backlog

  21. Slide 21: European zero-emission bus market continues to expand, Solaris leader

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.4 CONSOLIDATED STATEMENT OF PROFIT OR LOSS THE EUROPEAN ZERO-EMISSION BUS MARKET CONTINUES TO EXPAND, WITH SOLARIS AS THE HISTORIC LEADER / Urban zero-emission buses account

  22. Slide 22: Double-digit growth in operating result

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.4 CONSOLIDATED STATEMENT OF PROFIT OR LOSS DOUBLE-DIGIT GROWTH IN OPERATING RESULT DRIVEN BY INCREASED ACTIVITY AND IMPROVED PROFITABILITY / Notable margin expansion at Sola

  23. Slide 23: Positive cash generation supported by profit growth

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.5. CASH FLOW POSITIVE CASH GENERATION SUPPORTED BY PROFIT GROWTH AND DISCIPLINED WORKING CAPITAL MANAGEMENT EBITDA-CASH FLOW BRIDGE (€m) 2025 / CASH FLOW (€m) 87 88 349.50 0

  24. Slide 24: Balance sheet under control in a growth context

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.6. CONSOLIDATED BALANCE SHEET BALANCE SHEET UNDER CONTROL IN A GROWTH CONTEXT CAPEX (TANGIBLE + INTANGIBLE) (€m) (EUR million) 31/12/2024 31/12/2025 Fixed Assets 1,268 1,211

  25. Slide 25: Strong financial position

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.6. CONSOLIDATED BALANCE SHEET STRONG FINANCIAL POSITION / Decrease in net debt and improvement in the NFD/EBITDA ratio NET FINANCIAL DEBT (€m) LIQUIDITY (€m) Undrawn credit

  26. Slide 26: High RoCE driven by business growth and improved profitability

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.7. ROCE HIGH RoCE, DRIVEN BY BUSINESS GROWTH, IMPROVED PROFITABILITY AND HIGHLY DISCIPLINED INVESTMENT / The average RoCE over the last 5 years has remained well above the m

  27. Slide 27: Upward progression of the dividend contributes to strong shareholder return

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 2.8. SHAREHOLDER REMUNERATION UPWARD PROGRESSION OF THE DIVIDEND CONTRIBUTES TO STRONG SHAREHOLDER RETURN EARNINGS PER SHARE - EPS (M€) DIVIDEND PER SHARE - DPS (M€) +41% 4.27

  28. Slide 28: 3/ Stock Market Information

    3/ STOCK MARKET INFORMATION www.cafmobility.com 28

  29. Slide 29: CAF achieved a historic stock market performance in 2025 (+69%)

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES CAF ACHIEVED A HISTORIC STOCK MARKET PERFORMANCE IN 2025 (+69%) / 67% of analysts with stable coverage of CAF continue to recommend Buy/Outperform CAF PERFORMANCE VS IBEX AND

  30. Slide 30: 4/ Sustainability

    4/ SUSTAINABILITY www.cafmobility.com 30

  31. Slide 31: Successful implementation of the Sustainability Master Plan

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES SUCCESSFUL IMPLEMENTATION OF THE SUSTAINABILITY MASTER PLAN, WITH POSITIVE PROGRESSION OF THE RESPONSIBLE MANAGEMENT SCORECARD / Highlights ENVIRONMENTAL SOCIAL GOVERNANCE • C

  32. Slide 32: 5/ Outlook

    5/ OUTLOOK www.cafmobility.com 32

  33. Slide 33: CAF enters final year of its strategic plan with a positive outlook

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES CAF ENTERS THE FINAL YEAR OF ITS STRATEGIC PLAN WITH A POSITIVE OUTLOOK / 2026 will see a continuation of the recent growth trend of increased activity and results while maint

  34. Slide 34: Addressing the next strategic cycle 2027-2030

    ADDRESSING THE NEXT STRATEGIC CYCLE 2027-2030 MEGATRENDS URBANISATION ELECTRIFICATION HIGHER PUBLIC E-MOBILITY Demand for Public Shift to EV fleets to comply with Net Transportation Solutions Zero Policies, and for improved efficiency and lower operating costs HIGH GROWTH & BIG OPPORTUNITY RAILWAY M

  35. Slide 35: 6/ Appendices

    6/ APPENDICES www.cafmobility.com 35

  36. Slide 36: 6.1 Details of order intake

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 6.1 DETAILS OF ORDER INTAKE / Contracts announced and included in the order backlog in the period from January-December 2025 DATE PROJECT COUNTRY BUSINESS/ACTIVITY DESCRIPTION

  37. Slide 37: 6.2 Additional financial information

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 6.2 ADDITIONAL FINANCIAL INFORMATION NET EQUITY BRIDGE (€m) 146 3 -46 (1) -11 988 896 Equity 31/12/2024 Patrimonio 31/12/2024 Net attributable Resultado result neto atribuible

  38. Slide 38: 6.3 Additional sustainability information

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 6.3 ADDITIONAL SUSTAINABILITY INFORMATION Responsible Management Scorecard (1) ACTUAL TARGET INDICATORS DIRECTION FY24 FY25 FY25E FY26E Reduction of CO2 emissions. Scope 1&2 (

  39. Slide 39: 6.4 Agenda

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 6.4 AGENDA Conferences and roadshows in Q1 2026 Publication of Results • 3-4-5 March 2026 • 7 May 2026 Post FY 2025 Roadshow (Madrid, London, Paris) Q1 2026 Results Release •

  40. Slide 40: 6.5 Alternative Performance Measures (APMs)

    1. HIGHLIGHTS 2025 / 2. FINANCIAL INFORMATION / 3. STOCK MARKET INFORMATION / 4. SUSTAINABILITY / 5. OUTLOOK / 6. APPENDICES 6.5 ALTERNATIVE PERFORMANCE MEASURES (APMs) In addition to the financial information The breakdown of all APMs used in this prepared in accordance with the generally document,

  41. Slide 41: Trust in Motion

    www.cafmobility.com TRUST IN MOTION

CAF — FY2025 Earnings Presentation on 6ix