Ferrovial N.V. · BME:FER
Ferrovial — H1 2023 Earnings Presentation
17 slides from Ferrovial's earnings presentation, Jul 27, 2023
Slide 1: H1 2023 Financial Results
H1 2023 FINANCIAL RESULTS Picture: NTE H1 2023 27 July 2023 Financial Results 1
Slide 2: Disclaimer
DISCLAIMER This presentation has been produced by Ferrovial SE (the “Company” and, together with its subsidiaries, the “Group”) for the sole purpose expressed herein. Therefore, neither this document nor any of the information contained herein constitute or form part of, and should not be construed
Slide 3: H1 2023 Overview
H1 2023 OVERVIEW CONTINUED GROWTH IN OUR MAIN INFRASTRUCTURE ASSETS • Toll Roads: 407 ETR traffic increase vs. H1 2022 on improved mobility trends. MLs posted strong revenue growth • Airports: steady traffic recovery ahead of peak summer season • Construction: profitability impacted by completion wo
Slide 4: Toll Roads: NTE 35W distributes its first dividend
TOLL ROADS NTE 35W DISTRIBUTES ITS FIRST DIVIDEND H1 2023 PERFORMANCE vs. H1 2022 GROWING CONTRIBUTION FROM US ASSETS EUR mn JUN-23 % Ch LfL Revenues 492 38.0% EBITDA 360 40.0% 82% 92% REVENUES EBITDA EBITDA mg 73.1% NTE 3C OPENING AHEAD OF SCHEDULE 66% additional €81mn FER investment 50y concession
Slide 5: 407 ETR: sustained traffic growth as mobility improves
407 ETR SUSTAINED TRAFFIC GROWTH AS MOBILITY IMPROVES H1 2023 PERFORMANCE vs. H1 2022 CAD mn JUN-23 VAR. Traffic (VKT mn) 1,150 21.9% Revenues 700 22.3% EBITDA 598 22.4% EBITDA mg 85.4% Average rev. per trip (CAD13.09) +0.5% vs. H1 2022 DIVIDENDS • CAD150mn dividend distribution in H1 2023 (no divid
Slide 6: Toronto regional mobility maintains the positive trend
TORONTO REGIONAL MOBILITY MANTAINS THE POSITIVE TREND EVOLUTION OF 407 ETR, MAIN ALTERNATIVES & URBAN TRANSIT (vs. 2019)* 407 ETR VKT Urban Transit Main Alternatives 10% 0% 0% -10% -3% -20% -26% -30% -40% -50% -60% -70% -80% -90% Apr-23 Apr-21 Jun-21 Jun-23 Jan-22 Jan-20 Apr-20 Jul-20 Jul-21 Jul-22
Slide 7: DFW Managed Lanes: strong revenue/transaction growth
DFW MANAGED LANES STRONG REVENUE/TRANSACTION GROWTH AVG REVENUE PER TRANSACTION NTE LBJ NTE35W +9.8% +11.3% +10.6% H1 2023 PERFORMANCE (vs. H1 2022) NTE Var. LBJ Var. NTE35W Var. Transactions Revenues EBITDA EBITDA mg TRAFFIC PERFORMANCE vs. H1 2022 11.6% 9.7% NTE 5.5% LBJ NTE 35W Pic: LBJ NTE LBJ N
Slide 8: I-77 and I-66 performance
I-77 I-66 OUTSTANDING PERFORMANCE TRAFFIC AND REVENUE RAMPING UP H1 2023 PERFORMANCE vs. H1 2022 H1 2023 PERFORMANCE MONTHLY TRANSACTIONS (MN) USD mn JUN-23 VAR. USD mn JUN-23 2.6 Transactions 20 19.7% 2.3 Transactions 13 1.9 Revenues 43 62.5% EBITDA 31 104.7% Revenues 67 +34.5% EBITDA mg 71.7% EBIT
Slide 9: US Managed Lanes
US MANAGED LANES TEXAS, NORTH CAROLINA & VIRGINIA: THE STATES WITH THE BEST BUSINESS CLIMATE* FORTUNE 500 COMPANIES HQs LOCATED IN OUR MAIN MARKETS FORTUNE 500 COMPANIES** Metro areas with most Fortune 500 companies & change vs.. 2022 • Attracting & retaining the HQs of the biggest companies in US c
Slide 10: Heathrow: traffic approaching pre-pandemic levels
HEATHROW TRAFFIC APROACHING PRE PANDEMIC LEVELS H1 2023 PERFORMANCE vs. H1 2022 (Heathrow SP) GBP mn JUN-23 VAR. Revenues 1,742 36.1% EBITDA 1,070 43.8% EBITDA mg 61.4% OPERATIONAL PERFORMANCE Monthly Traffic (mn passengers) 9 8 37.1mn pax 7 +42.1% vs. H1 2022 6 -4.3% vs. H1 2019 5 4 3 2 Jan Feb Mar
Slide 11: Other airport assets
OTHER AIRPORT ASSETS AGS - ONGOING TRAFFIC IMPROVEMENT DALAMAN – TRAFFIC ABOVE PRE-COVID LEVELS GBP mn JUN-23 VAR. EUR mn JUN-23 Revenues 89 18.0% Revenues 24 EBITDA 28 43.0% EBITDA* 15 EBITDA mg 31.2% EBITDA mg 63.0% Operating performance *EBITDA post-concession fee for H1 2023 (EUR11mn) Monthly Tr
Slide 12: Construction: US completion works impacting profitability
CONSTRUCTION US COMPLETION WORKS IMPACTING PROFITABILITY H1 2023 PERFORMANCE vs. H1 2022 EUR mn JUN-23 JUN-22 % Ch LfL Revenues 3,258 3,053 8.3% EBITDA 62 78 -24.1% EBITDA mg 1.9% 2.5% EBIT -3 26 n.s. EBIT mg -0.1% 0.8% Order book* 14,857 14,743 -1.1% Pic: Sydney Metro, Tunel Boring Machine, Austral
Slide 13: P&L
P&L EUR mn JUN-23 JUN-22 REVENUES 3,940 3,534 EBITDA 401 313 Period depreciation -201 -143 EBIT (ex disposals & impairments) 200 170 Disposals & impairments 0 0 EBIT 200 170 Financial Result from infrastructure projects -165 -175 Financial Result from ex-infrastructure projects 64 56 FINANCIAL RESUL
Slide 14: Net debt evolution (ex-infrastructure)
NET DEBT EVOLUTION (EX-INFRASTRUCTURE) 342 (16) (145) (46) (140) (74) (52) 23 1,439 (511) 819 NCP Dec'22* Dividends EBITDA WC Taxes Equity Other Shareholder Hybrid Bond Other NCP Jun'23* from projects evolution investments investment cash Remuneration Repayment financing flows cash flows Hybrid bond
Slide 15: Closing remarks
H1 2023 Financial Results CLOSING REMARKS • • • • • 15 15 Pic: Solar Photovoltaic Plant “El Berrocal PV” (Seville, Spain)
Slide 16: Q&A
Q&A H1 2023 16 Financial Results 16
Slide 17: Investor Relations Department
INVESTOR RELATIONS DEPARTAMENT +34 91 586 25 65 +31 207 983 724 ir@ferrovial.com www.ferrovial.com H1 2023 Financial Results 17