43 slides from Construcciones Y Auxiliar De Ferrocarriles's earnings presentation, Feb 26, 2025
Slide 1: Full Year 2024 Results
www.cafmobility.com www.cafmobility.com FULL YEAR 2024 RESULTS 26 February, 2025
Slide 2: Legal Notice
LEGAL NOTICE THIS DOCUMENT HAS BEEN PREPARED FOR INFORMATION PURPOSES ONLY The information contained in this document has not Therefore, under no circumstances should it be Any decision made by third parties as a result of the been verified by independent third parties; construed as advice or recomm
Slide 3: Contents
CONTENTS 1. HIGHLIGHTS 2024 2. FINANCIAL INFORMATION 3. STOCK MARKET INFORMATION 4. SUSTAINABILITY 5. OUTLOOK 6. APPENDICES 3
Slide 4: Highlights 2024
A == HIGHLIGHTS =e 2024
Slide 5: Exceeding of the outlook announced for 2024
1. HIGHLIGHTS 2024 EXCEEDING OF THE OUTLOOK ANNOUNCED FOR 2024 / OUTLOOK 2024 / ACTUAL 2024 > ✓ ≥1 • Btb=1.1 Book-to-bill Selective order intake • Profile aligned with medium-term targets Revenue > Approximately +10% vs. 2023 • +10% vs. 2023 ✓ EBIT Net profit > Improved profitability vs. 2023 • EBIT
Slide 6: Key milestones achieved: commercial focus
1. HIGHLIGHTS 2024 KEY MILESTONES ACHIEVED FOR THE GROUP’S SHORT- AND MEDIUM-TERM PERFORMANCE COMMERCIAL FOCUS / STRENGTHENING IN KEY MARKETS Consolidation of growth in France Notable order intake (>€500m) linked to the railway (including an extension worth >€400m with SNCF) and bus (hydrogen bus an
Slide 7: Key milestones achieved: signalling
1. HIGHLIGHTS 2024 KEY MILESTONES ACHIEVED FOR THE GROUP’S SHORT- AND MEDIUM-TERM PERFORMANCE SIGNALLING / PIONEERS IN RAILWAY AUTOMATION / GROWTH OF THE SIGNALLING BUSINESS Implementation of Automatic Train Operation (ATO) in the Netherlands in Introduction of the CBTC system, “OPTIO”, at the InnoT
Slide 8: Key milestones achieved: buses
1. HIGHLIGHTS 2024 KEY MILESTONES ACHIEVED FOR THE GROUP’S SHORT- AND MEDIUM-TERM PERFORMANCE BUSES / EUROPEAN LEADERSHIP AND ONGOING PROGRESS / PRESTIGIOUS AWARDS IN EUROPE TOWARDS GROWTH AND ENHANCED PROFITABILITY Following Solaris’ exceptional performance in the final quarter of the year ... Bus
Slide 9: Key milestones achieved: sustainability
1. HIGHLIGHTS 2024 KEY MILESTONES ACHIEVED FOR THE GROUP’S SHORT- AND MEDIUM-TERM PERFORMANCE SUSTAINABILITY / GREEN AND SUSTAINABLE FINANCING FRAMEWORK / SUSTAINABILITY MASTER PLAN Published in Q1 2024 Double Materiality Analysis (2024) Validated by a Second Party Opinion Provider. Sustainability P
Slide 10: Key milestones achieved: new CAF website
1. HIGHLIGHTS 2024 KEY MILESTONES ACHIEVED FOR THE GROUP’S SHORT- AND MEDIUM-TERM PERFORMANCE / NEW CAF WEBSITE Corporate Website Shareholders and Investors Section > www.cafmobility.com www.cafmobility.com www.cafmobility.com/en/shareholders-investors/ • Domain change to cafmobility.com • More comp
Slide 11: Financial Information
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Slide 12: 2025 as a year of progressive contribution to targets
2. Financial Information / 2.1 Key Figures ORDER INTAKE BACKLOG REVENUE Annual order intake target achieved and €4,707m €14,695m €4,212m surpassed. Book-to-bill=1.1. -1% +3% +10% vs. FY23 vs. 31/12/2023 vs. FY23 The backlog has reached a historic high, ensuring the Group’s growth trajectory EBIT EBI
Slide 13: Annual order intake target achieved and surpassed
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake ANNUAL ORDER INTAKE TARGET ACHIEVED AND SURPASSED / TOTAL (€m) / ORDER INTAKE DISTRIBUTION BY ACTIVITY LINE Acceleration of order intake in Q4 2024, contributing over half (%) 2024 of the annual total. Integrated Of note is the strong ord
Slide 14: Main orders signed in Q4 2024 - Railway
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake Main orders announced and signed in Q4 2024 - RAILWAY / TRAMS FOR ITALY / METROS FOR SPAIN, THE NETHERLANDS, CHILE AND / MEDIUM- AND LONG- COLOMBIA DISTANCE TRAINS FOR TRAMS FOR BOLOGNA METRO UNITS FOR MADRID FRANCE • Base contract for 33
Slide 15: Main orders signed in Q4 2024 - Buses
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake Main orders announced and signed in Q4 2024 - BUSES / ELECTRIC BUSES FOR THE DALARNA REGION (SWEDEN) / ELECTRIC URBAN BUSES FOR SEATTLE (USA) • Contract signed with private operator Keolis Sverige. • Contract signed with the primary publi
Slide 16: Record-high backlog closer to Strategic Plan 2026 target
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake / 2.3. Backlog RECORD-HIGH BACKLOG BRINGS COMPANY CLOSER TO MEETING STRATEGIC PLAN 2026 GROWTH TARGET / TOTAL (€m) / RECENT BACKLOG EVOLUTION (€m) THE BACKLOG CONTINUES TO GROW Buses (+52% vs. 2021) Railway Increase % 4,707 4,212 +3% 14,6
Slide 17: Backlog expands in Europe
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake / 2.3. Backlog THE BACKLOG EXPANDS IN EUROPE, THE WORLD’S LARGEST ACCESSIBLE MARKET / BACKLOG DISTRIBUTION BY ACTIVITY LINE (%) 2024 / BACKLOG DISTRIBUTION BY GEOGRAPHY (%) 2024 Integrated Solutions and Rest of the Systems world APAC Spai
Slide 18: Double-digit growth, margin progression and improved results
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake / 2.3. Backlog / 2.4 Consolidated Statement of Profit or Loss IMPLEMENTATION OF THE ANNUAL PLAN. DOUBLE-DIGIT GROWTH, MARGIN PROGRESSION AND NOTABLE IMPROVEMENT IN RESULTS. Var. (EUR million) 2023 2024 2024/2023 Continuation of the Group’
Slide 19: Double-digit growth in consolidated revenue
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake / 2.3. Backlog / 2.4 Consolidated Statement of Profit or Loss DOUBLE-DIGIT GROWTH IN CONSOLIDATED REVENUE, IN LINE WITH THE OUTLOOK ANNOUNCED AT THE START OF THE YEAR REVENUE / CONSOLIDATED / RAILWAY / BUSES +10% +9% +13% 3,825 4,212 3,28
Slide 20: Favourable contribution from all railway activities
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake / 2.3. Backlog / 2.4 Consolidated Statement of Profit or Loss FAVOURABLE CONTRIBUTION FROM ALL RAILWAY ACTIVITIES RAILWAY REVENUE / ROLLING STOCK / SERVICES / INTEGRATED SOLUTIONS AND SYSTEMS +2% +12% +27% 1,745 1,777 587 655 674 853 2023
Slide 21: Solaris increases bus deliveries
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake / 2.3. Backlog / 2.4 Consolidated Statement of Profit or Loss SOLARIS INCREASES BUS DELIVERIES, STRENGTHENING THE SIGNIFICANCE OF ITS ZERO- AND LOW-EMISSIONS RANGE BUSES REVENUE / No. OF BUSES DELIVERED / No. OF BUSES IN BACKLOG After a r
Slide 22: Solaris' leadership in zero-emission urban buses in Europe
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake / 2.3. Backlog / 2.4 Consolidated Statement of Profit or Loss SOLARIS’ LONG-STANDING LEADERSHIP IN ZERO-EMISSION URBAN BUSES IN EUROPE BUSES REVENUE SOLARIS STRENGTHENS ITS LEADERSHIP IN / EUROPEAN ZERO-EMISSION URBAN BUS MARKET (ELECTRIC
Slide 23: Improvement in results and operating margin in H2
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake / 2.3. Backlog / 2.4 Consolidated Statement of Profit or Loss NOTABLE IMPROVEMENT IN RESULTS AND OPERATING MARGIN IN THE SECOND HALF OF THE YEAR / Annual and Half-year EBIT (€M) and EBIT Margin (%) The Group’s EBIT increases by 21% to €21
Slide 24: Positive cash generation in 2024
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake / 2.3. Backlog / 2.4 Consolidated Statement of Profit or Loss / 2.5 Cash Flow POSITIVE CASH GENERATION IN 2024, BOLSTERED BY THE STRENGTH OF THE SECOND HALF OF THE YEAR / EBITDA-CASH FLOW BRIDGE (€m) / CASH FLOW (€m) 100 72 -63 -28 H1 202
Slide 25: Solid balance sheet, decrease in leverage ratio
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake / 2.3. Backlog / 2.4 Consolidated Statement of Profit or Loss / 2.5 Cash Flow / 2.6 Consolidated Balance Sheet SOLID BALANCE SHEET, WITH A DECREASE IN THE LEVERAGE RATIO (EUR million) 31/12/2023 31/12/2024 / CAPEX (TANGIBLE + INTANGIBLE)
Slide 26: Strong control of working capital
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake / 2.3. Backlog / 2.4 Consolidated Statement of Profit or Loss / 2.5 Cash Flow / 2.6 Consolidated Balance Sheet STRONG CONTROL OF WORKING CAPITAL ACROSS BOTH BUSINESS LINES / NET WORKING CAPITAL (€m) Working capital under control at the en
Slide 27: Decrease in net debt and improvement in NFD/EBITDA
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake / 2.3. Backlog / 2.4 Consolidated Statement of Profit or Loss / 2.5 Cash Flow / 2.6 Consolidated Balance Sheet / 2.7 Financial Position DECREASE IN NET DEBT AND IMPROVEMENT IN THE NFD/EBITDA RATIO / NET FINANCIAL DEBT (€m) / GROSS FINANCI
Slide 28: Proposed dividend increase follows results
2. Financial Information / 2.1 Key Figures / 2.2 Order Intake / 2.3. Backlog / 2.4 Consolidated Statement of Profit or Loss / 2.5 Cash Flow / 2.6 Consolidated Balance Sheet / 2.7 Financial Position / 2.8 Shareholder Remuneration THE PROPOSED DIVIDEND INCREASE FOLLOWS THE EVOLUTION OF RESULTS, AS OUT
Slide 29: Stock Market Information
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Slide 30: CAF's share appreciates by 7% in 2024
3. Stock market information CAF’S SHARE APPRECIATES BY 7% IN 2024, AND SHOWS A POTENTIAL OF >30%1 / CAF PERFORMANCE vs. IBEX AND SECTOR2 / STOCK MARKET INDICATORS / SHAREHOLDING STRUCTURE 120 Cartera 31/12/2024 Social 115 35 IBEX IBEX Market capitalization (EUR) 1,198,112,212 23.75% Medium 110 CAP N
Slide 31: Sustainability
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Slide 32: Advances in sustainability pillar of 2026 Strategic Plan
4. Sustainability CAF ADVANCES IN THE DEVELOPMENT OF THE SUSTAINABILITY PILLAR OF ITS 2026 STRATEGIC PLAN(1) / SUSTAINABILITY AS THE BACKBONE FOR OUR STRATEGY / PUBLICATION OF THE SUSTAINABILITY MASTER PLAN (2) IN RESPONSE TO THE RESULTS OF THE DOUBLE MATERIALITY ANALYSIS, CONDUCTED IN ACCORDANCE WI
Slide 33: Outlook
/5 OUTLOOK 33
Slide 34: 2025 expected to bring growth and profitability improvement
5. Outlook 2025 IS EXPECTED TO BRING GROWTH, PROFITABILITY IMPROVEMENT AND STABILITY IN THE NFD/EBITDA RATIO / 20251 ORGANIC FORECAST ENABLERS > ≥1 • Favourable outlook for the railway market Book-to-bill Increasing market share of zero-emission urban buses in Europe • . Selective order intake Expan
Slide 35: We reaffirm the targets for 2026
5. Outlook WE REAFFIRM THE TARGETS FOR 2026 / 20261 approx. x1.6 approx. 2.2x Revenue NFD/EBITDA approx. €4,800m after M&A approx. x1.8 30% EBIT Scope 1&2 approx. €300m Zero net emissions 2045 Upward Dividends progression in line Scope 3 40% Zero net emissions 2045 with performance 1 Outlook based o
Slide 36: Appendices
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Slide 37: Contracts announced and included in the backlog (Jan-Dec 2024)
6. Appendices / 6.1 Breakdown of order intake CONTRACTS ANNOUNCED AND INCLUDED IN THE BACKLOG IN THE PERIOD FROM JANUARY-DECEMBER 2024 DATE PROJECT COUNTRY BUSINESS/ACTIVITY DESCRIPTION TYPE CUSTOMER ADDITIONAL OPTIONS AMOUNT The Q1 2024 Qbuzz Railway / Rolling stock The supply of 10 Civity commuter
Slide 38: Contracts announced and included in the backlog 2024
6. Appendices / 6.1 Breakdown of order intake CONTRACTS ANNOUNCED AND INCLUDED IN THE BACKLOG FOR THE 2024 (JANUARY-DECEMBER) PERIOD DATE PROJECT COUNTRY BUSINESS/ACTIVITY DESCRIPTION TYPE CUSTOMER ADDITIONAL OPTIONS AMOUNT 4Q 2024 Medellín Colombia Railway / Rolling stock Supply of 13 metro units B
Slide 39: Net equity bridge
6. Appendices / 6.1. Details of order intake / 6.2 Additional Financial Information NET EQUITY BRIDGE (EUR million) -31 1 103 -38 -6 896 868 Equity 31/12/2023 Result Traslation differences Dividends Other changes Equity 31/12/2024 1 This includes an ordinary gross dividend of €1.11/share paid in Jul
Slide 40: Responsible management scorecard
6. Appendices / 6.1. Details of Order Intake / 6.2 Additional Financial Information / 6.3 Responsible Management Scorecard RESPONSIBLE MANAGEMENT SCORECARD Actual Rating Target Target Target Target Target INDICATORS 2024 2024 2024 2025 2026 2030 2045 Reduction of CO2 emissions. Scope 1&2 (base year
Slide 41: Alternative performance measures (APM)
ALTERNATIVE PERFORMANCE MEASURES (APM) 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, w
Slide 42: Agenda
AGENDA / CONFERENCES AND ROADSHOWS / 04 March, 2025 → Post-2024 Results Roadshow (Madrid). Bestinver Securities. Shareholders and Investors Office Contact: / 05 March, 2025 → Post-2024 Results Roadshow (Paris). Santander Banking. / 10-11 March, 2025 → Post-2024 Results Roadshow (Italy). Caixabank BP
Slide 43: Trust in motion
TRUST IN MOTION