Construcciones Y Auxiliar De Ferrocarriles, S.a. · BME:CAF
Construcciones Y Auxiliar De Ferrocarriles — Investor Day (December 2022)
106 slides from Construcciones Y Auxiliar De Ferrocarriles's investor day presentation, Dec 1, 2022
Slide 1: Reporting of Inside Information
CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES, S.A. REPORTING OF INSIDE INFORMATION Pursuant to the provisions of article 17 of Regulation (EU) No. 596/2014 of 16 April 2014 on market abuse, and of article 226 of the consolidated text of the Securities Market Act, enacted by Royal Legislative Decree 4/
Slide 2: Strategic Plan 2026
www.caf.net STRATEGIC PLAN 2026 1
Slide 3: Disclaimer
DISCLAIMER This document has been prepared for information purposes only. The information and opinions contained herein are provided as of the date of the document and are subject to verification, The information contained herein has not been verified by termination and change with no prior notice.
Slide 4: Contents
CONTENTS 1. A RETROSPECTIVE LOOK / Explaining and showcasing the performance of the CAF Group during the recently-ended Strategic Plan 2. CAF TODAY / Building greater knowledge and understanding of the CAF Group by highlighting where it is today 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 / Showing th
Slide 5: A Retrospective Look
/1 A RETROSPECTIVE LOOK WHAT DID WE INTEND TO DO? STRATEGIC ACHIEVEMENTS RESULTS 4
Slide 6: We proposed: Vision 2021 and strategic pillars
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 / WE PROPOSED / IN ORDER TO TO ... ACHIEVE ... VISION 2021 STRATEGIC PILLARS Based on our technical and human potential, we 2016-2021 will grow in the rail sector, securing our position in the largest and most demanding m
Slide 7: Strategic achievements
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 / 1.1 STRATEGIC ACHIEVEMENTS We have successfully undertaken a great transformation 6
Slide 8: Growth and strengthening of the value proposition
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 1.1 STRATEGIC ACHIEVEMENTS / GROWTH AND STRENGTHENING OF THE VALUE PROPOSITION Greater presence in Europe Strengthening of the value proposition Diversification of the Technological development for rail offering beyond ra
Slide 9: Progress from rail manufacturer to mobility solutions provider
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 1.1 STRATEGIC ACHIEVEMENTS 2016 2021 WE HAVE PROGRESSED ...TO CONSOLIDATING OUR FROM BEING A RAIL STRATEGIC POSITION AS A MOBILITY MANUFACTURER PLAN SOLUTIONS PROVIDER IN THE OFFERING INTEGRATION 2016-2021 RAIL AND URBAN
Slide 10: Results
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 / 1.2 RESULTS We meet our commitments by delivering sound results 9
Slide 11: Strategic pillars 2016-2021 results
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 1.2 RESULTS 2016 2021 Var.2021/2016 AVERAGE BOOK-TO-BILL 1.3x / COMMERCIAL SUCCESS GROWTH / GROWTH (CAGR1=17%) > MARKET2 REVENUE €2,943M x2.2 STRATEGIC PILLARS 2016-2021 €1,318M / ORGANIC AND INORGANIC GROWTH, FOR RAIL AN
Slide 12: Conclusions
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 CONCLUSIONS MAIN / SOUND / IMPROVED / TRANSFORMATIVE / CASH-FLOW / FINANCIAL / SHAREHOLDER GROWTH PROFITABILITY CORPORATE GENERATION SOLVENCY PAYOUT ACHIEVEMENTS IN NORMALISED OPERATIONS PRE- AND SOUND AND RESULTS CONDITI
Slide 13: CAF Today
/2 CAF TODAY PROVIDER OF INTEGRATED MOBILITY SOLUTIONS EUROPE'S No. 1 IN SUSTAINABLE URBAN MOBILITY AT THE FOREFRONT OF TECHNOLOGY GLOBAL, WITH OUTSTANDING POSITIONING IN EUROPE HIGHLY QUALIFIED AND COMMITTED TEAM SOLVENCY AND FINANCIAL CAPACITY SUSTAINABLE ECONOMIC SITUATION 2022 12
Slide 14: The CAF Group is...
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 The CAF Group is: A PROVIDER OF INTEGRATED SUSTAINABLE MOBILITY SOLVENCY SOLUTIONS EUROPE'S No. 1 AND IN SUSTAINABLE FINANCIAL URBAN CAPACITY MOBILITY AT THE FOREFRONT OF SUSTAINABLE TECHNOLOGY GLOBAL, WITH HIGHLY QUALIFI
Slide 15: A provider of integrated mobility solutions
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.1 A PROVIDER OF INTEGRATED MOBILITY SOLUTIONS Detailed information in the Annexes + Revenue - Product / RAIL Tram Metro Commuter / THE CAPABILITIES AND Rolling stock Regional CURRENT RANGE OF High Speed SOLUTIONS OF THE
Slide 16: Integrated mobility systems experience
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.1 A PROVIDER OF INTEGRATED MOBILITY SOLUTIONS CAF is one of the international leaders in the implementation of integrated mobility systems THROUGHOUT THE ENTIRE EXTENSIVE EXPERIENCE IN SOME PROJECTS IN PROJECT LIFE CYCL
Slide 17: An attractive business model for customer and CAF
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.1 A PROVIDER OF INTEGRATED MOBILITY SOLUTIONS AN ATTRACTIVE BUSINESS MODEL FOR THE CUSTOMER AND FOR CAF BENEFICIT MARKET OF GREAT INTEREST ATTRACTION FOR CAF / Global solution for / High entry barriers / Increased indus
Slide 18: E-mobility
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.1 A PROVIDER OF INTEGRATED MOBILITY SOLUTIONS Detailed information in the Annexes / BUS / PIONEERS IN NEW PRODUCT DEVELOPMENT: TECHNOLOGY, LENGTHS, CHARGING SYSTEMS, CONFIGURATIONS / MORE / SOLARIS HAS THE THAN 25 WIDES
Slide 19: The challenges of urban mobility
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.2 No.1 IN SUSTAINABLE URBAN MOBILITY THE CHALLENGES OF URBAN MOBILITY PROMOTE THE USE OF URBAN PUBLIC TRANSPORT / URBAN MOBILITY IS CHANGING / PUBLIC POLICIES CLEARLY SUPPORT / URBAN PUBLIC TRANSPORT (METRO, THE GREEN T
Slide 20: Creating sustainable towns and cities
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.2 No.1 IN SUSTAINABLE URBAN MOBILITY CREATING SUSTAINABLE PUBLIC AUTHORITIES / OPERATOR TOWNS AND CITIES PROPOSAL FOR SEAMLESS MOBILITY METROS TRAMS AND LRVs LOW AND ZERO-EMISSION BUSES RANGE OF ELECTRIC ELECTRIC AND BA
Slide 21: At the forefront of technology
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.3 AT THE FOREFRONT OF TECHNOLOGY Detailed information in the Annexes THE CAF GROUP IS MAKING ONGOING INVESTMENTS IN KEY INNOVATION AREAS FOR MOBILITY "THE MOBILITY OF THE FUTURE WILL BE SUSTAINABLE, SEAMLESS, MULTI-MODA
Slide 22: Global, with outstanding positioning in Europe
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.4 GLOBAL, WITH OUTSTANDING POSITIONING IN EUROPE MORE THAN RAIL / MANUFACTURING FACILITIES IN SPAIN, FRANCE, THE UNITED KINGDOM, THE UNITED STATES, BRAZIL AND MEXICO. 50 COUNTRIES IN THE WORLD / MORE THAN 100 MAINTENANC
Slide 23: Highly qualified and committed team
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.5 HIGHLY QUALIFIED AND COMMITTED TEAM HIGHLY QUALIFIED TEAM, COMMITTED TO THE CORPORATE STRATEGY AND TO A SHARED CULTURE The definition of corporate policies in Organisational Health has become Workforce growth in line
Slide 24: Sustainable
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.6 SUSTAINABLE www.caf.net/en/sostenibilidad FOR CAF, SUSTAINABILITY IS A KEY STRATEGIC FACTOR Rating Memberships / Audits / The Materiality Analysis conducted / Sustainability Plan and / Sustainability Committee in 2021
Slide 25: Proven track record, above-market growth
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.7 SOLVENCY AND FINANCIAL CAPACITY PROVEN BUSINESS TRACK RECORD, ACHIEVING ABOVE-MARKET GROWTH1 Covid-19 year The CAF Group Rail Bus2 +9% CAGR 2016-21 +7% CAGR 2016-21 +6% CAGR 2018-21 9,446 9,640 8,807 7,716 Continued g
Slide 26: Sustained growth of revenue and profit
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.7 SOLVENCY AND FINANCIAL CAPACITY SUSTAINED GROWTH OF REVENUE AND PROFIT FOR RAIL AND BUSES ALIKE The CAF Group Rail Bus2 Covid-19 year +17% +11% +5% CAGR 2016-21 CAGR 2016-21 CAGR 2019-21 EBIT Mg 2,943 2,598 2,762 2,04
Slide 27: Sound cash flow generation
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.7 SOLVENCY AND FINANCIAL CAPACITY SOUND CASH FLOW GENERATION OVER CONTROLLED WORKING CAPITAL LEVELS The CAF WC1 (€M and % of revenue ) CASH-FLOW2 (€M) Group 19.2% 16.7% 3.2% 5.7% 3.8% 4.8% 272 233 Total 128 Pre: 79 0 72
Slide 28: Economic situation 2022
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 ECONOMIC SITUATION 2022 / INCOME STATEMENT / BALANCE SHEET / €11,000M + IN BACKLOG (30/06/2022) IMPACT OF THE STRENGTH VISIBILITY ECONOMIC DESPITE THE IMPACT FACED WITH THE SITUATION OF THE MACRO UNCERTAINTY DUE TO BUSINE
Slide 29: Economic situation 2022: macro impact
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 ECONOMIC SITUATION 2022 THE MACRO SITUATION IS HAVING AN IMPACT ON PROJECT EXECUTION AND ON THE GROUP'S RESULTS IN THE SHORT TERM. INVESTMENT IN MOBILITY HAS NOT BEEN x Affected by the current situation (<10%) AFFECTED. x
Slide 30: Supply chain mitigation plan
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 ECONOMIC SITUATION 2022 MITIGATION PLAN UNDERWAY TO MINIMISE THE IMPACT OF THE DISRUPTIONS TO THE SUPPLY CHAIN / SUPPLY CHAIN STRATEGY / MITIGATION PLAN PROCUREMENT REDUCE THE IMPACT / Supply problems primarily with regar
Slide 31: Inflation mitigation plan
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 ECONOMIC SITUATION 2022 MITIGATION PLAN UNDERWAY TO MINIMISE THE IMPACT OF INFLATION. COMMERCIAL DISCIPLINE: SELECTIVE STRATEGY / INFLATION STRATEGY / MITIGATION PLAN / CAF GROUP COST STRUCTURE (2021) MATERIALS AND ENERGY
Slide 32: Order backlog covered against rising prices
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 ECONOMIC SITUATION 2022 ALMOST 2/3 OF THE ORDER BACKLOG ARE COVERED AGAINST RISING PRICES IF INFLATION BEHAVES ACCORDING TO THE CURRENT FORECASTS OF THE KEY INTERNATIONAL ORGANISATIONS AND THE CURRENT SUPPLY CHAIN ISSUES
Slide 33: Conclusions: solid foundations
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 CONCLUSIONS / WE HAVE / WE HAVE / WE ARE AT THE / WE HAVE PROVEN / WE HAVE A STRONG / WITH A HIGHLY DEVELOPED KEY POSITIONED FOREFRONT OF OUR CAPABILITY TO BACKLOG THAT WILL QUALIFIED AND CAPABILITIES FOR OURSELVES IN THE
Slide 34: Future Aspiration
/3 FUTURE ASPIRATION STRATEGIC PLAN 2026 33
Slide 35: Giving continuity to a history of profitable growth
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 / GIVING CONTINUITY TO A HISTORY OF PROFITABLE GROWTH FY16 FY21 FY26E CAGR CAGR +17% +10% REVENUE 1,318 2,943 c.4,800 €M €M €M CAGR CAGR +8% +13% EBIT 165 c.300 112 €M €M €M TRANSFORMATION COMMERCIAL FOCUS GROWTH OPERATIN
Slide 36: 3.1 Vision
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 / 3.1 VISION 35
Slide 37: Vision: integrated rail and bus mobility solutions
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION TO GROW AS A PROVIDER OF INTEGRATED RAIL AND BUS MOBILITY SOLUTIONS, MAXIMISING OUR DIGITAL PROPOSITION COMMERCIAL / COMMERCIAL FOCUS / INNOVATION FOCUS Commercially focussed on Europe, North With an innovative
Slide 38: Commercial focus
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. COMMERCIAL FOCUS / Commercially focussed on Europe, North America and COMMERCIAL Asia-Pacific, with recurrence and scale FOCUS / FOUR KEY DIMENSIONS USED TO PRIORITISE STRATEGIC MARKETS AND TO DEFINE THE COMME
Slide 39: Concentrate c.70% of revenue on key markets
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. COMMERCIAL FOCUS CAF WILL CONCENTRATE c. 70% OF ITS REVENUE ON KEY MARKETS / RAIL / BUSES CORE · Attractive markets with a high volume and recurrent activity. · Strong positioning and good strategic fit with t
Slide 40: Commercial focus: Rail
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. COMMERCIAL FOCUS / RAIL CAF WILL CENTRE ITS RAIL STRATEGY ON EUROPE, USA AND ASIA PACIFIC, WITH A SELECTIVE FOCUS ON PROJECTS WITH A HIGH ADDED VALUE 39
Slide 41: Rail market annual growth of 3% through 2027
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. COMMERCIAL FOCUS / RAIL THE RAIL MARKET PROJECTS AN ANNUAL GROWTH RATE IN CONTRACT AWARDS OF 3% THROUGH TO 2027 Accessible Rail Market by REGION1 Accessible Rail Market by SEGMENT1 CAGR CAGR Accessible market
Slide 42: Rail core markets
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. COMMERCIAL FOCUS / RAIL CORE MARKETS CURRENT EXPECTED REVENUE BACKLOG INDUSTRIAL MARKET GROWTH COMPETITIVE FY211 FY211 CAPACITY 2019-212 2025-272 PRODUCT FIT3 PANORAMA4 CONCLUSION ASPIRATION T: available Recen
Slide 43: Integrated projects above-market growth
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. COMMERCIAL FOCUS / RAIL INTEGRATED PROJECTS CAF WILL ACHIEVE ABOVE-MARKET GROWTH FOR INTEGRATED PROJECTS / THE TOTAL INTEGRATED PROJECT SHARE WILL / CAF ASPIRES TO WIN CONTRACTS TOTALLING BETWEEN GROW 6% AT A
Slide 44: Commercial focus: Buses
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. COMMERCIAL FOCUS / BUSES CAF ASPIRES TO MAINTAIN ITS EUROPEAN LEADERSHIP IN ZERO-EMISSION MOBILITY IN THE URBAN SEGMENT, TO EXPAND ITS PORTFOLIO TO THE EUROPEAN INTERCITY SEGMENT, AND TO ENTER THE NORTH AMERIC
Slide 45: Urban buses Europe leadership
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. COMMERCIAL FOCUS / URBAN BUSES EUROPE STRENGTHEN THE LEADERSHIP POSITION IN URBAN BUSES ZERO EMISSIONS IN EUROPE Urban Market in Continental Europe (thousand of units)1 Urban Market in Continental Europe 2021
Slide 46: Intercity buses Europe
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. COMMERCIAL FOCUS / INTERCITY BUSES EUROPE EXPAND THE PORTFOLIO TO THE ZERO-EMISSIONS INTERCITY SEGMENT IN CONTINENTAL EUROPE / MARKET / OPPORTUNITY / ASPIRATION GROWING MARKET, ADJACENT TO THE URBAN ONE, EXPAN
Slide 47: Urban buses USA
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. COMMERCIAL FOCUS / URBAN BUSES USA ENTER THE NORTH AMERICAN MARKET WITH AN EXCLUSIVE ZERO-EMISSIONS VALUE PROPOSITION / MARKET1 / OPPORTUNITY / ASPIRATION A STABLE MARKET WITH HIGH ADDED VALUE AND A LOW ZERO-
Slide 48: Operating efficiency
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. OPERATING EFFICIENCY / Efficient in production, engineering and procurement, COMMERCIAL complementing the current footprint with new industrial FOCUS capabilities that are in line with the commercial focus whi
Slide 49: Operating efficiency: Rail
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. OPERATING EFFICIENCY / RAIL 48
Slide 50: Rail market proximity and competitiveness
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. OPERATING EFFICIENCY / RAIL MARKET PROXIMITY AND COMPETITIVENESS / GLOBAL OPERATIONS WITH AN INDUSTRIAL FOCUS ON EUROPE, / IMPLEMENTATION OF EFFICIENCY PROGRAMMES NORTH AMERICA AND ASIA PACIFIC1 TO STRENGTHEN
Slide 51: Operating efficiency: Buses
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. OPERATING EFFICIENCY / BUSES 50
Slide 52: Buses market proximity and competitiveness
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. OPERATING EFFICIENCY / BUSES MARKET PROXIMITY AND COMPETITIVENESS / INDUSTRIAL FOCUS ON EASTERN EUROPE AND NORTH / IMPLEMENTATION OF EFFICIENCY PROGRAMMES TO AMERICA STRENGTHEN COMPETITIVENESS CURRENT / Produc
Slide 53: Innovation
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. INNOVATION / With an innovative mobility strategy that incorporates COMMERCIAL smart mobility solutions in the portfolio, and also strengthens FOCUS the core businesses and integrated projects. 4 STRATEGIC OPE
Slide 54: Operators require smart mobility solutions
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. INNOVATION / SMART MOBILITY SOLUTIONS OPERATORS REQUIRE SMART MOBILITY SOLUTIONS IN ORDER TO RESPOND TO THE NEW CHALLENGES PRESENTED1 / TOWNS AND CITIES ARE FACING A NUMBER OF / AND THEY ARE SHAPING A NEW URBA
Slide 55: Smart mobility solutions in portfolio
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. INNOVATION / SMART MOBILITY SOLUTIONS CAF WILL BE STRENGTHENING ITS VALUE PROPOSITION BY INCLUDING SMART MOBILITY SOLUTIONS IN ITS PORTFOLIO ACTING AS AN INTEGRATED FACILITATOR FOR MOBILITY OPERATORS END USER
Slide 56: Decarbonisation
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. INNOVATION / DECARBONISATION / SECTOR CHALLENGES KEY TECHNOLOGY CHALLENGES BEMU Increased catenary-free operating range Development of HEMU solutions and first contracts. HEMU HEMU solution optimisation. Migra
Slide 57: Automation
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. INNOVATION / AUTOMATION / SECTOR CHALLENGES KEY TECHNOLOGY CHALLENGES ERTMS CAF progress towards ERMS Level 3 Automatic Train Operation (ATO) Deployment of ATO with high levels of automation in the main GoA li
Slide 58: Competitiveness through digitalisation
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. INNOVATION / COMPETITIVENESS THROUGH DIGITALISATION / SECTOR CHALLENGES KEY TECHNOLOGY Validation environments and Virtual certification techniques Simulation, Artificial intelligence and Digital twin Digitali
Slide 59: Sustainability
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. SUSTAINABILITY / With sustainable growth focussed on the COMMERCIAL environment, leading the transition towards net-zero FOCUS emission mobility. 4 STRATEGIC OPERATING INNOVATION PILLARS EFFICIENCY SUSTAINABIL
Slide 60: Improved ratings and net zero emissions by 2045
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.1 VISION. SUSTAINABILITY SIGNIFICANT IMPROVEMENTS IN AGENCIES’ RATINGS AND NET ZERO EMISSIONS BY 2045 / PRIORITY MATERIAL ASPECTS IDENTIFIED1 / ASPIRATION Scopes 1&2 Scope 3 (reduction rate % of (% per passenger- absolu
Slide 61: 3.2 Financials
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3. FUTURE ASPIRATION / 3.2 FINANCIALS 60
Slide 62: Revenue above-market level growth
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.2 FINANCIALS. REVENUE ABOVE-MARKET LEVEL GROWTH / CONSOLIDATED / RAIL RAIL GROUP c.3,500 10% CAGR 2021-26E c. 4,800 2,222 10% CAGR 2021-26E The interannual growth is given by: 2,943 FY 21 FY26E 1. Execution of the curre
Slide 63: M&A baseline case of c.€550M
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.2 FINANCIALS. M&A CAF IS CONSIDERING A BASELINE CASE OF CORPORATE TRANSACTIONS WITH AN APPROXIMATE INVESTMENT OF €550M The baseline case1 considers M&A opportunities in order to complete the organic development and even
Slide 64: EBIT margin recovery
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.2 FINANCIALS. EBIT MARGIN (figure without any adjustment) SOUND RECOVERY OF PROFITABILITY, EXCEEDING PRE-PANDEMIC LEVELS / CONSOLIDATED / RAIL GROUP ≥ 6.2% ≥ 6.3% 5.7% c.217 c.300 5.3% €M 127 €M €M 63 €M 5.6% 165 €M The
Slide 65: Cash flow and financial position
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.2 FINANCIALS. CASH FLOW SOUND FINANCIAL POSITION INCLUDING CORPORATE POST-TRANSACTIONS Cash-flow bridge for period 2023-26E1 Evolution NFD/EBITDA ratio c.5-7% of c. 2.2x With the corporate revenue transaction baseline c
Slide 66: 3.3 Conclusion
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3. FUTURE ASPIRATION / 3.3 CONCLUSION 65
Slide 67: Conclusion: growth as integrated mobility provider
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 3.3 CONCLUSION GROWTH AS A PROVIDER OF INTEGRATED RAIL AND BUS MOBILITY SOLUTIONS, MAXIMISING OUR DIGITAL PROPOSITION FY26E1 4 strategic pillars Revenue c. x1.6 c.€4,800M Commercially focussed on Europe, North America and
Slide 68: Closing statement
WELL-PREPARED AND PERCEPTIVE... THAT'S HOW WE LOOK AT GLOBAL TRANSPORT. THIS ALLOWS US TO DESIGN, DEVELOP, MANUFACTURE, INSTALL AND INTEGRATE ALL THE PARTS MAKING UP AN INTERCONNECTED MOBILITY SYSTEM. WE DO THINGS YOUR WAY, FLEXIBLY MEETING YOUR NEEDS AND PREFERENCES, OFFERING YOU SOLUTIONS THAT ARE
Slide 69: Shareholder and Investor Relations Office
/ SHAREHOLDER AND INVESTOR RELATIONS OFFICE 68
Slide 70: Shareholder and Investor Relations Office
SHAREHOLDER AND INVESTOR RELATIONS OFFICE / ANALYST COVERAGE / SHAREHOLDER AND INVESTOR RELATIONS OFFICE c/J.M. Iturrioz, 26 20200 Beasain-Gipuzkoa Alberto Espelosín Alfredo del Cerro Álvaro Lence Ander Peña Spain +34 943189262 accionistas@caf.net / INVESTOR RELATIONS TEAM Aránzazu Cortina Bruno Bes
Slide 71: Alternative Performance Measures
ALTERNATIVE PERFORMANCE MEASURES 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, which i
Slide 72: Annexes
ANNEXESAnnexes • CAF TODAY: AT THE FOREFRONT OF TECHNOLOGY • CAF TODAY: RAIL • CAF TODAY: BUSES 71 71
Slide 73: Annexes
ANNEXESAnnexes • CAF TODAY: AT THE FOREFRONT OF TECHNOLOGY • CAF TODAY: RAIL • CAF TODAY: BUSES 72
Slide 74: Trains and buses share traction technology
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.3 AT THE FOREFRONT OF TECHNOLOGY THE TRAINS AND BUSES SHARE THE SAME TRACTION TECHNOLOGY AND ADDRESS THE SAME CHALLENGE ELECTRIFIED PARTIALLY ELECTRIFIED NON-ELECTRIFIED / CHARGING POINTS ZERO EMISSIONS TROLLEYBUSES ELE
Slide 75: Decarbonisation milestones achieved
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.3 AT THE FOREFRONT OF TECHNOLOGY DECARBONISATION IMPORTANT RECENTLY-ACHIEVED MILESTONES IN INNOVATIVE TECHNOLOGIES IN THE SECTOR BATTERY-POWERED VEHICLES HYDROGEN VEHICLES EFFICIENCY CAF IS AWARDED THE LARGEST RAIL CONT
Slide 76: Automation milestones achieved
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.3 AT THE FOREFRONT OF TECHNOLOGY AUTOMATION IMPORTANT RECENTLY-ACHIEVED MILESTONES IN INNOVATIVE TECHNOLOGIES IN THE SECTOR ATO1 MAINLINE AUTONOMOUS TRAM KEY TECHNOLOGIES ATO DEVELOPMENTS IN THE MAINLINE TESTS FOR PERCE
Slide 77: Digitalisation and competitiveness
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2.3 AT THE FOREFRONT OF TECHNOLOGY DIGITALISATION AND COMPETITIVENESS IMPORTANT RECENTLY-ACHIEVED MILESTONES IN CUTTING-HEDGE TECHNOLOGIES IN THE MOBILITY SECTOR DIGITAL SOLUTIONS: LEADMIND, eSCONNECT AND ONELINE DIGITAL
Slide 78: Annexes
ANNEXESAnnexes • CAF TODAY: AT THE FOREFRONT OF TECHNOLOGY • CAF TODAY: RAIL • CAF TODAY: BUSES 77
Slide 79: Rail
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. RAIL / BACKLOG 31/12/2021 / REVENUE 2021 / EBIT 20211 / GEOGRAPHIC MARKET / ACTIVITIES Rolling stock Global, €127M with a focus €8,855M €2,222M 5.7% on Europe Services Integrated Solutions and Systems Does not include
Slide 80: Rolling stock
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. RAIL / WIDE RANGE OF ROLLING STOCK, PROXIMITY TO KEY PLAYERS / ROLLING STOCK Product Technology Tram Electric / Battery Backlog 31/12/2021 €4,837M Metro Electric (50% of total) High Floor EMU / DEMU / BEMU / HEMU Reven
Slide 81: Rolling stock: global presence and customers
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. RAIL /GLOBAL PRESENCE, CUSTOMERS IN ALL 5 CONTINENTS Footprint Projects / ROLLING STOCK ~5,0003 10 Employees Production HIGH GOOD QUALITY ORDER INTAKE factories +7% 6 2019-21 vs 2018-20 Countries 50 Drawing in other ac
Slide 82: Complete portfolio of rail services
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. RAIL / COMPLETE PORTFOLIO OF RAIL SERVICES / SERVICES SMART DESIGN AND 01 MAINTENANCE MAINTENANCE MANUFACTURE • Light maintenance The fact that we are • Heavy maintenance Backlog ~€2,728M designers and • TSSSA manufact
Slide 83: Digital solutions for services
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. RAIL / ROLL-OUT OF PROJECT DIGITAL SOLUTIONS / SERVICES LEADMIND AND DIGITAL FLEET Smart operations centre SOLUTIONS MANAGEMENT • Telemetry • Geolocation • Real time alarms • Equation Editor • Remote HMI • Analysis for
Slide 84: Integrated solutions and systems
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. RAIL / SOLUTIONS THAT STRENGTHEN THE VALUE PROPOSITION AND DRIVE THE GROUP'S GROWTH / INTEGRATED SOLUTIONS AND SYSTEMS Backlog 31/12/2021 €1,290M INTEGRATED (13% of total) ENGINEERING Revenue 2021 €364M UPGRADES (13% o
Slide 85: Integrated projects
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. RAIL / INTEGRATED PROJECTS / INTEGRATED SOLUTIONS Turnkey projects 1,000+ 20+ €700M > 20 years AND SYSTEMS with and without financing professionals projects Average OPEX project value duration 4 / SIGNALLING / POWER AN
Slide 86: Annexes
ANNEXESAnnexes • CAF TODAY: AT THE FOREFRONT OF TECHNOLOGY • CAF TODAY: RAIL • CAF TODAY: BUSES 85
Slide 87: Buses
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES / BACKLOG / REVENUE 2021 / EBIT1 2021 / GEOGRAPHIC / PRODUCT 31/12/2021 MARKET SEGMENT Continental €785M €721M €38M Urban Europe 5.2% 1Absorbs the amortisation of the acquisition of Solaris by the CAF Group. 86
Slide 88: 25 years dedicated to improving urban mobility
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES 25 YEARS DEDICATED TO IMPROVING URBAN MOBILITY #1 1996 2002 2006 2011 2016 2017 2018 TODAY LEADER IN E-MOBILITY FOUNDATION EXPANSION GREEN ELECTRIFICATION HYDROGEN EXCELLENCE M&A STRATEGY Launch of the Solaris be
Slide 89: A pan-European company
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES A PAN-EUROPEAN COMPANY COUNTRIES WITH SOLARIS BUSES IN OPERATION 2,700+ employees OTHER FACILITIES 6 Latest generation facilities in Kijewo Poland Murowana Goslina Poznan 387 Sroda wielkopolska Service Centres in
Slide 90: Solaris European leader in e-mobility
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES SOLARIS IS THE EUROPEAN LEADER IN E-MOBILITY THROUGH A PROFITABLE BUSINESS MODEL / OEM / UNIQUE PRODUCT AND TECHNOLOGY Solaris designs and manufactures the widest range of PROPOSITION modern, zero- and low-emissi
Slide 91: Solaris leading mobility transformation in cities
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES SOLARIS IS SUCCESSFULLY LEADING THE MOBILITY TRANSFORMATION IN CITIES / WE ARE No. 1 1 / UNIQUE MOBILITY POSITIONING in the zero-emission European bus market, with a share with a unique product, technology and va
Slide 92: The largest offering on the market
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES The largest offering on the market BECAUSE EACH CITY IS DIFFERENT VARIABILITY CHARGING TRADITIONAL, LOW AND STUDIES INFRASTRUCTURE ZERO-EMISSION BUSES INTEGRATED SOLUTIONS IN E-MOBILITY FOR CITIES eSCONNECT AFTER
Slide 93: Technological advantage over competitors
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES SUBSTANTIAL TECHNOLOGICAL ADVANTAGE IN RELATION TO COMPETITORS / PRODUCT / BUS UNITS DELIVERED / BUS LENGTHS / ADAS PORTFOLIO from 1996 through to today1 DRIVER ASSISTANCE SYSTEMS Silent, emission-free, advanced
Slide 94: Batteries, charging systems and drives
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES SOLARIS HAS DEVELOPED A WIDE RANGE OF BATTERIES AND CONFIGURATIONS, CHARGING SYSTEMS AND VEHICLE DRIVES / 2 CHARGING SYSTEMS / 2 BATTERY TYPES / 2 DRIVE TYPES up to 800 A SOLARIS HIGH POWER High power density eve
Slide 95: Unique real experience in e-mobility
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES UNIQUE REAL EXPERIENCE IN E- FIRMLY MOVING TOWARDS ZERO- MOBILITY EMISSION MOBILITY / % e-mobility Of total units delivered SOLARIS ELECTRIC BUSES (WITH BATTERIES) 2018 29% >2,500 >1,500 >1,000 116 20 Awarded Del
Slide 96: Pioneer in new product development
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES AT THE FOREFRONT OF TECHNOLOGY AS A PIONEER IN NEW PRODUCT DEVELOPMENT TROLLEYBUS TROLLEYBUS ELECTRIC BUS HYDROGEN BUS HYDROGEN- INTERCITY HYDROGEN WITH BATTERIES for extended range POWERED BUS ELECTRIC BUS ARTIC
Slide 97: Digital tools to optimise operation and maintenance
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES DIGITAL TOOLS TO OPTIMISE OPERATION & MAINTENANCE / eSConnect (Electric bus fleet management) / AFTER-SALES STRUCTURE DATA DELIVERY DEDICATED SYSTEM OPERATION IMMEDIATE SUPPORT: STRUCTURE TO MONITORING ADVISERS A
Slide 98: Solaris ahead of European competitors
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES Solaris is ahead of its European competitors with regard to portfolio, real experience and market share 97
Slide 99: Positioning of Solaris stands out
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES TYPOLOGY OF COMPETITORS IN EUROPE OEMs BUS&TRUCK BUSINESS COMBINATION • Limited portfolio of zero-emission solutions (electric, hydrogen, trolleybus) • Delayed development of zero-emission solutions • Low-medium
Slide 100: Only manufacturer with complete low and zero-emission range
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES SOLARIS IS THE ONLY MANUFACTURER TO OFFER THE COMPLETE RANGE OF LOW AND ZERO-EMISSION SOLUTIONS T: Total. E: Electric / COMPANY / MARKET SHARE T T T T T T T T 0 T 0 T 3 (%, 2021)1 E E E E E E E E 5 E 1 E 6 HYBRID
Slide 101: Highest market share in European zero-emission buses
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES AND ALSO THE ONE WITH THE HIGHEST MARKET SHARE, IN 2021 AND IN THE LAST DECADE SOLARIS LEADS THE EUROPEAN ZERO- SOLARIS LEADS THE EUROPEAN ZERO- EMISSION URBAN BUS MARKET IN 2021 EMISSION URBAN BUS MARKET IN 2012
Slide 102: Solaris units sold by geographic region
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES TODAY SOLARIS ENJOYS A PARTICULARLY SOUND POSITION IN ITS TRADITIONAL MARKETS, AND IS INCREASING ITS PRESENCE IN OTHER HIGH-POTENTIAL COUNTRIES / SOLARIS UNITS SOLD IN 2021 FOCUS ON GROWTH BY GEOGRAPHIC REGION ST
Slide 103: Significant growth of Solaris since joining CAF
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES Significant growth of Solaris since it joined the CAF Group 102
Slide 104: Positive track record since joining CAF Group
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES / POSITIVE TRACK RECORD SINCE IT JOINED THE CAF / BACKLOG GROUP 31/12/2021 • Scale, with revenue >€700M (16%+ revenue TCAC 18-21) +7% • 2.7x growth of EBIT 2019-21 • Sound backlog €785M 1,487 1,560 1,492 1,226 /
Slide 105: Solaris well-positioned to lead zero-emission transition
1. A RETROSPECTIVE LOOK 2. CAF TODAY 3. FUTURE ASPIRATION: STRATEGIC PLAN 2026 2. BUSES IN SHORT, SOLARIS IS WELL-POSITIONED TO CONTINUE TO LEAD THE TRANSITION TOWARDS ZERO EMISSIONS / UNIQUE POSITIONING IN / EXCELLENT BALANCE / FOCUS ON THE RIGHT E-MOBILITY BETWEEN NEW AND SEGMENT: THE CITY TRADITI
Slide 106: Closing statement
WELL-PREPARED AND PERCEPTIVE... THAT'S HOW WE LOOK AT GLOBAL TRANSPORT. THIS ALLOWS US TO DESIGN, DEVELOP, MANUFACTURE, INSTALL AND INTEGRATE ALL THE PARTS MAKING UP AN INTERCONNECTED MOBILITY SYSTEM. WE DO THINGS YOUR WAY, FLEXIBLY MEETING YOUR NEEDS AND PREFERENCES, OFFERING YOU SOLUTIONS THAT ARE
Construcciones y Auxiliar de Ferrocarriles, S.A. (CAF) — Investor Day (December 2022) on 6ix