Ferrovial N.v. · BME:FER
Ferrovial — H1 2018 Earnings Presentation
19 slides from Ferrovial's earnings presentation, Jul 26, 2018
Slide 1: 1H 2018 Results
- CLUBCORP ferrovial 1H 2018 Results 26 July 2018
Slide 2: Disclaimer
Disclaimer This document may contain statements that constitute forward looking statements about the Company. These statements are based on financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations, which refer to estimates regardin
Slide 3: 1H 2018 Highlights
1H 2018 Highlights Better performance than expected (2017 CMD) Traffic increased across the board Double digit EBITDA growth in main assets Higher dividends from 407ETR, LHR = Construction EBIT margin 1.9% = Services impacted by Amey (BHM provision) & Australia (end of immigration contracts)
Slide 4: Proportional reporting
Proportional reporting Proportional EBITDA would’ve reached €787mn excluding the impact of BHM provision 68% contribution from Infrastructure assets REPORTED VS PROPORTIONAL PROPORTIONAL EBITDA REPORTED PROPORTIONAL 1H2018 1H2017) %CH %CHLFL Revenues 5,935 6,432 Toll Roads 277 280 -11% 7.8% MCh 21%
Slide 5: Toll roads
Toll roads 5 (€ mn) Speeding up * Solid financial results LFL TOLL ROADS RESULTS . spas 1H2018 %CHLFL* = Growing contribution from USA Revenues 208 “14.8% EBITDA Bé +11.4% Higher dividends from toll roads (€138mn) ° FER received €130mn from 407ETR (+9% LfL 100% CADmn) ° — Rest of toll roads contribu
Slide 6: 407 ETR
) 4 0 7 ET R Equity method, oii Solid performance despite 20% higher oil prices 1H 2018 RESULTS TORONTO GAS PRICES 1H2018 —-%CH vo Revenues 651 +10.0% 140 EBITDA 570 +11.4% 30 AWN EBITDA mg 87.5% 0 110 Traffic (VKTs'000) 1,292,106 +2.2% ‘00 Dividends 453 +9.0% 90 80 70 Jan Feb Mar Apr May Jun Jul Au
Slide 7: Managed Lanes: Outstanding performance continues
(USD mn) Global Consolidation Managed Lanes Tors USA Outstanding performance continues +18.0% REVENUES +24.2°% +19.8% EBITDA +25.5% +5.9% TRAFFIC* +8.5% 1H 2015 1H 2016 1H 2017 1H 2018 1H 2016 1H 2017 1H 2018 ll EBITDA = EBITDA mg 5 * Transactions
Slide 8: Managed Lanes: Macroeconomic indicators to support future growth
Managed Lanes Macroeconomic indicators to support future growth EMPLOYMENT POPULATION +3.6% +1.6% DFW payrolls 2018/2017 DFW 2018/2017 (1.7x USA average) TOTAL NONFARM EMPLOYMENT (YOY%) - USA & 12 LARGEST METROPOLITAN AREAS 34 31 08 09 U.S. Bureau of Labor Statistics 8
Slide 9: NTE 3SW Managed Lanes fully opened
NTE3 SW Ferrovial stake 54%, Global see Use Managed Lanes fully opened July 19% 2018 Area to support strong growth: Peveeceeenere REP oressarnestert¥veweneereeserreserrenes = Alliance Airport recently expanded = Logistic centres (Amazon, FedEx, Kraft, 114 Walmart, JC Penney, LG.. Etc) [Aue | cease =
Slide 10: 1H 2015 1H 2016 1H 2017 1H 2018
42 39 33 31 1H 2015 1H 2016 1H 2017 1H 2018
Slide 11: Heathrow
Heathrow $13.8bn invested’ to improve passenger experience ASQ score (out of 5) 4.16 3.43 2007 2017 Security as Great/Excellent 74% ay — 2017 * Amount invested since 2006 to 2017 u Equity method, 25% stake UK Departing 15 mins of schedule 83% 63% 2007 2017 | | Baggage Misconnect (per 1000 bags) if ~
Slide 12: Heathrow: Runway process on track
Heathrow RUNWAY 3 process on track 3,500m new runway NW of Airport 740,000 Total fight movernent capacity 130mn passengers per year Up to 180,000 jobs to be created across UK Up to S285bn in economic benefits to be generated across the UK
Slide 13: Construction
Construction Performance in line with expectations tighter margins in Poland B Revenues EBITDA mg Order book RESULTS 1H2018 %Ch 2,437 +1223% 64 -37.5% 2.6% 47 46.4% 1.9% 1,090 -0.5% % CH LFL +16.6% -37.2% -46.5% -0.7% EBITDA BY AREA ° “ Budimex ™Webber ™®F. Agroman Year end forecast £3!1 margin of 3
Slide 14: Services
Services temo ff Performance on its way to expected 2018 guidance RESULTS EBITDA mg 4.7% ex-BHM provision 1H2018 = %CH % CHLFL Revenues 3,238 -11.4% -7.8% EBITDA -83 -BI.3% -140.6% UK: 1.5% EBITDA mg ex BHM EBITDA mg -2.6% . - 9 EBITDA ex-BHM _______----- 13 222M 26.7% Ex one-offs, EBITDA mg 3.1% EB
Slide 15: CF & Net debt evolution
CF & Net debt evolution tem Net cash, ex-infra: €906mn 30 June 2018 vs. €1,341mn Dec 2017 Main drivers of this change included : " Dividends & capital reimbursements from projects: +€307mn (vs +€259mn 1H 2017) = €130mn from 407 ETR = €87mn from Airports = €81mn from Services = Larger investments: -€
Slide 16: Delivering today ...
Delivering today ... = Strong performance from Infrastructure assets = Assets performed better than expected in 2017 CMD " Growing dividends from Infrastructure = RW3 approval = Fullopening of NTE35W " Construction & Services expected to improve margins at year-end ... Looking forward
Slide 17: Q&A
Slide 18: Construction & Services results
Construction & Services results SERVICES CONSTRUCTION 1H2018 =1H2017.) = -%CHLFL 1H2018 = 1H2017 =%CHLFL Revenues 3,238 3,654 -7.8% Revenues 2,437 2,169 16.6% EBITDA -83 2122 -140.6% EBIT 47 87 -46.5% EBITDA margin -2.6% 5.8% EBIT margin 19% 4.0% Order book* 19,084 19,329 0.3% Order book* 11,090 11,
Slide 19: Investor Relations Department
INVESTOR RELATIONS DEPARTMENT - C/ Principe de Vergara, 135 - 28002 MADRID (Spain) T: +34 91586 27 30 F: +34 91586 28 69 e-mail: ir@ferrovial.es website: www.ferrovial.com MEMBER OF 2015 Constituent Dow Jones MSCI %:: | MSCI Global Sustainability Indices *“* | Sustainability Indexes In Collaboration