Construcciones Y Auxiliar De Ferrocarriles, S.a. · BME:CAF
Construcciones Y Auxiliar De Ferrocarriles — FY2016 Earnings Presentation
29 slides from Construcciones Y Auxiliar De Ferrocarriles's earnings presentation, Feb 27, 2017
Slide 1: FY2016 Results Presentation
FY2016 RESULTS PRESENTATION 27 February 2017
Slide 2: At a Glance
AT A GLANCE Record- Record-high order intake which consolidates the new growth cycle of the Company, Company with an improved net working capital situation, and a strengthened financial position (in millions of EUR) 2016 2015 % change Order intake 2.677 902 197% Backlog 6.228 4.869 28% Revenue 1.318
Slide 3: Contents
Contents Order Intake Backlog Consolidated Statement of Profit or Loss Consolidated Statement of Financial Position Stock Market Information Outlook 3
Slide 4: Order Intake
Order Intake All- All-time high order intake with a book-to-bill=2 (in millions of EUR) 1 2014 2015 2016 Q1- Q1-Q4 Q1- Q1-Q4 Q1 Q1- Q1-Q2 Q1- Q1-Q3 Q1- Q1-Q4 2 Order Intake 1,895 902 789 1,636 2,030 2,677 Book-to-bill 1.3 0.7 2.0 The main contracts signed, signed and included in the backlog, in the
Slide 5: Order Intake (continued): main contracts
Order Intake (continued) Northern – TransPennine– TransPennine– Arriva First Group Main contracts for Vehicles and Europe and the urban and Related Services Jan16 €717M May16 €313M commuter/regional segments provide the 2016 bulk of the order intake Amsterdam Nov16 €149M Brussels Oct16 €353M Marylan
Slide 6: Order Intake (continued): new orders with a better profile
Order Intake (continued) New orders with a better profile More than 60% of the new order intake originated in Western Europe A third of the contracts signed with already known customers, customers, who continue relying on CAF Railway operators and administrations of highest prestige award significan
Slide 7: Backlog
Backlog Record- Record-high order backlog that ensures future growth Backlog The order backlog as of 31st December 2016 reaches its record- record- high peak of €6.2 billion, equivalent to 4.7x 2016 revenue. Total backlog (€M) M) Backlog /Sales ratio 6,228 15% The bulk of the backlog continues to be
Slide 8: Profit or Loss
Consolidated Statement of Profit or Loss (in millions of EUR) Consolidated Statement of Profit or Loss 2016 2015 % change Revenue 1,318 1,284 3% Revenue has increased by 2.7% in year-on-year Other income (*) 26 11 138% terms. Supplies and change in stocks (624) (561) 11% Staff costs (398) (402) -1%
Slide 9: Profit or Loss
Consolidated Statement of Profit or Loss (in millions of EUR) Consolidated Statement of Profit or Loss 2016 2015 % change Revenue 1,318 1,284 3% Staff costs remain contained in comparison with the Other income (*) 26 11 138% increase in activity. Supplies and change in stocks (624) (561) 11% Staff c
Slide 10: Profit or Loss: revenue by geography
Consolidated Statement of Profit or Loss Recovery of the mid- id-term revenue figure Broad geographical geographical diversification of revenues Revenue Performance Revenue Breakdown by geography (in millions of EUR) 2016 National 279 The Netherlands 89 1,725 1,721 United Kingdom 78 1,563 Others 144
Slide 11: Profit or Loss: revenue by segment
Consolidated Statement of Profit or Loss The activity in Services and in Other (in millions of EUR) businesses continues growing Revenue Breakdown by segment 2016 2015 % change Other Wheelsets 3% businesses1 <1% Rolling Stock 829 823 1% Services Services 350 327 7% 9% Wheelsets 68 78 -13% Other busi
Slide 12: Profit or Loss: EBITDA
Consolidated Statement of Profit or Loss Despite the impact of the lack of activity and project mix in progress, higher margin than the average of peers in sector EBITDA The mix of projects in progress and the lack of activity explain the EBITDA for the year. 229 223 Efficiency measures have been de
Slide 13: Financial Position
Consolidated Statement of Financial Position (in millions of EUR) Property, plant and equipment Consolidated Statement of Financial Position 31/12/2016 31/12/2015 % change Investment in property, plant and equipment in 2016 Assets Intangible Assets 40 35 15.6% increased to 17 million euros, slightly
Slide 14: Financial Position: Equity
Consolidated Statement of Financial Position (in millions of EUR) Consolidated Statement of Financial Position 31/12/2016 31/12/2015 % change Equity Assets Intangible Assets 40 35 15.6% The effect of the Brazilian Real revaluation is the main Property, Plan & Equipment, net 229 241 -4.8% Investments
Slide 15: Financial Position: Current Liabilities
Consolidated Statement of Financial Position (in millions of EUR) Current Liabilities Consolidated Statement of Financial Position 31/12/2016 31/12/2015 % change Current Bank Borrowings decreased versus 2015 due Assets to the repayment of bank loans. Intangible Assets 40 35 15.6% Property, Plan & Eq
Slide 16: Financial Position: Working Capital
Consolidated Statement of Financial Position Net working capital improved for the third consecutive semester Working Capital Working capital decreased, posting its third (in millions of EUR) 462 448 consecutive semester reduction, and 393 339 positioning it at minimum levels of the past four 253 yea
Slide 17: Financial Position: Gross and Net Financial Debt
Consolidated Statement of Financial Position Very favourable performance of the financial position of the Company Gross Financial Debt Net Financial Debt (in millions of EUR) Beginning of concessions1 2011 2012 2013 2014 2015 Jun16 2016 630 543 10,0x 512 479 530 8,0x Concessions Gross Debt 239 492 4
Slide 18: Net Financial Debt Bridge
Consolidated Statement of Financial Position The significant improvement in working capital is the main driver for the decrease in NFD Net Financial Debt (Net Debt Bridge) (in millions of EUR) 500 450 Profit and profit adjustments: €161 M Changes in working capital: €200 M 400 Other cash flows from
Slide 19: Stock Market Information
Stock Market Information Base 100= 02/01/2016 200 CAF IBEX-35 150 100 50 02/01/2016 02/02/2016 02/03/2016 02/04/2016 02/05/2016 02/06/2016 02/07/2016 02/08/2016 02/09/2016 02/10/2016 02/11/2016 02/12/2016 Shareholding Structure 31/12/2016 Stock market information 2016 Net earnings per share (EUR) 1.
Slide 20: Outlook
OUTLOOK CAF is on track for GROWTH IN THE COMING YEARS based on a greater depth of products and services and constantly striving for greater efficiency 20
Slide 21: Outlook: Immersed in a new growth cycle
Outlook Immersed in a new growth cycle Double-digit Compound annual growth rate (CAGR) in 2017-2018 sales, underpinned by record-high order intake in 2016 Upward trend of profit in the next years driven by: a) Increased activity, especially in European manufacturing plants b) Order intake margin in
Slide 22: Market position by geography
Outlook CAF's position in the market aligned with UNIFE forecasts UNIFE Market1 Forecast by geography CAF’s CAF’s Positioning – Revenue breakdown by geography EURbn Eastern Eur. CAGR APAC 2% 122 3 . 2% 2% CIS 5 2.1% 0% LATAM 101 8 1.9% Africa/Middle East 8 3.8% 8% 4 10 1.5% Africa/Middle 7 East 7 Ea
Slide 23: Market position by segment
Outlook CAF's position in the market aligned with UNIFE forecasts UNIFE Market1 Forecast by Segment CAF’s CAF’s Positioning – Revenue breakdown by Segment EURbn CAGR 122 3 . 2% Other businesses 2 5% 1 5.6% 101 Wheelsets 13 2.9% 1 5% Turnkey Management 11 24 3.1% Rail Control 20 Rolling 45 3.5% Stock
Slide 24: Market position by vehicle type
Outlook CAF's position in the market aligned with UNIFE forecasts UNIFE Market1 Forecast by vehicle type CAF Positioning – Backlog breakdown by Vehicle Type EURbn CAGR Locomotives AS 3% 45 3 . 5% Other VHS/HS 2% LR Vehicles 0 2.9% 37 5% 3 4.7% Metro Vehicles 0 7 4.6% 3 5 7 14.2% VHS/HS 3 2016 9 11 3
Slide 25: Strategic lines 2017-2020
Outlook The main strategic lines defined for 2017-2020 period are built around the following axes: 1 2 3 Greater growth in Strengthening of Growth of other vehicles the services businesses business 25
Slide 26: Greater growth in vehicles
Outlook The main strategic lines defined for 2017-2020 period are built around the following axes: 1 Greater growth in rolling stock based on: Greater growth in vehicles Commercial and industrial focus on key growth regions Development of standardised platforms for the key markets/segments Expansion
Slide 27: Strengthening of the services business
Outlook The main strategic lines defined for 2017-2020 period are built around the following axes: 2 Strengthening of the services business via: Strengthening of the services business Proactive search for Public Private Partnership contracts related to railway transport Accelerated development of th
Slide 28: Growth of other businesses
Outlook The main strategic lines defined for 2017-2020 period are built around the following axes: 3 Growth of other businesses: Growth of other businesses Technological Subsidiaries at the necessary level of maturity for growth Levels of investment in R&D are maintained in order to provide the CAF
Slide 29: Legal Notice
Legal Notice The purpose of this information is purely informative. The information and opinions contained in this document are provided as at the date of the document and are subject to verification, The information containing this document has not been verified completion and change without notice
Construcciones y Auxiliar de Ferrocarriles (CAF) — FY2016 Earnings Presentation on 6ix