Budimex Sa · GPW:BDX

Budimex Sa — Q1 2018 Earnings Presentation

15 slides from Budimex Sa's earnings presentation, May 2018

  1. Slide 1: Investor Presentation 1Q'18 financial results

    sense of creating Investor Presentation 1Q’18 financial results

  2. Slide 2: Budimex Group structure

    Budimex Group structure 1Q’18 results summary 1Q’18 sales 1Q’18 EBIT (% Group sales) (% Group EBIT) Internal eliminations -69 M PLN + 2 M PLN 1 339 M PLN 84 M PLN -5% +2% Construction segment Developer segment Other activities 1 159 M PLN 52 M PLN 211 M PLN 27 M PLN 37 M PLN 37 M M PLN PLN 87% 62% 1

  3. Slide 3: 1Q'18 at a glance

    1Q’18 at a glance 1Q’18 results summary  Group top line exceeded 1,3 bn PLN (+27% y-o-y)  Record backlog amounting to 10,4 bn PLN (+12% y-o-y)  EBIT profitability at 6,3% (-4,2 pp. y-o-y)  High improvement of notary sales in Bx Nieruchomosci (+68% y-o-y) general constr. Construction & assembly p

  4. Slide 4: 1Q'18: strong top line driven by construction segment

    1Q’18: strong top line driven by construction segment 1Q’18 results summary 1Q'18 1Q'17 ∆ FY'17 FY'16 Sales 1 339 1 053 286 6 369 5 572 y-o-y dynamics 27,2% 6,6% 20,6 pp. 14,3% 8,5% Gross margin 140 163 -23 810 751 % sales 10,5% 15,5% -5,0 pp. 12,7% 13,5% SG&A -61 -60 -1 -251 -231 % sales -4,6% -5,7

  5. Slide 5: Net cash evolution in Budimex Group

    Net cash evolution in Budimex Group Group results -579 M -269 M 2 596 -685 M 2 295 2 237 2 127 2 025 2 017 1 784 1 551 1 471 1 288 12'15 03'16 06'16 09'16 12'16 03'17 06'17 09'17 12'17 03'18 All figures in M PLN, unless stated otherwise 5 © Investor Relations

  6. Slide 6: Construction segment in 1Q'18

    Construction segment in 1Q’18 Construction segment Construction results (M PLN)  In 1Q’18 construction revenues amounted to 1Q'18 y-o-y dynamics 1,2 bn PLN (+17% y-o-y), gross margin profitability dropped by 5,6 pp. y-o-y Sales 1 159 17%  Value of order backlog remained solid: Gross margin 99 -29%

  7. Slide 7: Material prices evolution

    Material prices evolution Construction segment Concrete (1Q’10 = 100) Reinforcement steel (1Q’10 = 100) 160 160 143 140 140 129 120 120 100 100 80 80 60 60 1Q'10 1Q'11 1Q'12 1Q'13 1Q'14 1Q'15 1Q'16 1Q'17 1Q'18 1Q'10 1Q'11 1Q'12 1Q'13 1Q'14 1Q'15 1Q'16 1Q'17 1Q'18 Asphalt (1Q’10 = 100) Diesel oil (1Q

  8. Slide 8: Contracts signed in Budimex Group

    Contracts signed in Budimex Group Construction segment Annual data Quarterly data 7 105 7 285 170 209 217 5 691 1 320 2 070 460 73 -16% 2 586 2 766 1 269 1 060 4 649 25 1 3 169 50 2 392 106 407 588 786 365 01-12'15 01-12'16 01-12'17 01-03'17 01-03'18 Infrastructure General construction Railway Indus

  9. Slide 9: Backlog in Budimex Group

    Backlog in Budimex Group Construction segment +1% 10 300 10 386 1 014 10% 892 9% 8 930 8 421 13% 1 223 1 272 12% 10% 1 149 12% 849 2% 136 2% 187 2 726 26% 2 846 27% 1 894 22% 2 594 29% 5 491 65% 5 051 57% 5 337 52% 5 376 52% Share 12'15 12'16 12'17 03'18 Infrastructure General construction Railway I

  10. Slide 10: Developer segment in 1Q'18

    Developer segment in 1Q’18 Developer segment Developer segment results (M PLN)  Strong improvement of top line by 109% y-o-y 1Q'18 y-o-y dynamics and increase of operating profitability Sales 211 109%  Presales volume dropped by 31% y-o-y mainly Gross margin 37 90% due to lower contribution of fla

  11. Slide 11: Budimex Nieruchomosci offer

    Budimex Nieruchomosci offer Developer segment presold Offer as at 03’18 (number of flats) not presold 3 271 Tricity 2 837 24 Poznan 328 Warsaw 2 314 422 434 1 894 183 Cracow 420 943 957 14 Finished flats Under Total offer construction Under construction: 2 837 flats Land bank: 7 606 flats All figure

  12. Slide 12: Other activities segment in 1Q'18

    Other activities segment in 1Q’18 Other activities segment Other activities segment results (M PLN) 1Q'18 y-o-y dynamics  In 1Q’18 noted a 11% sales decrease mainly Sales 37 -11% due to lower volumes in Elektromontaz-Poznan Gross margin 6 18%  Gross margin and operating profitability % sales 16,8%

  13. Slide 13: Budimex market value

    Budimex market value Budimex on Warsaw Stock Exchange Shareholding structure Ferrovial Group WSE symbol BDX 30,3% Number of shares 25 530 098 Aviva OFE 55,1% 52 week min/max 176 / 284 PLN NN OFE 5,4% 52 week average volume 11,6 ths. shares 9,2% Other Market value as of 31.03’18 -5% -3% -1% -6% +5% -

  14. Slide 14: Dividend payment history

    Dividend payment history Budimex on Warsaw Stock Exchange Dividends paid by Budimex (M PLN) & dividend per share (PLN) ∑ = 2 445 95,8 M PLN PLN per share 450* 383 Dividend 303 280 232 208 174 156 149 112 Dividend per share 5,8 6,8 9,1 11,0 4,4 11,9 6,1 8,1 15,0 17,6* '09 '10 '11 '12 '13 '14 '15 '16

  15. Slide 15: sense of creating

    budimex sense of creating

Budimex — Q1 2018 Earnings Presentation on 6ix