34 slides from Construcciones Y Auxiliar De Ferrocarriles's earnings presentation, Feb 25, 2022
Slide 1: FY 2021 Results
FY 2021 Results 25 February, 2022
Slide 2: Legal Notice
Legal Notice The purpose of this information is purely informative. The information and opinions contained in this document are provided as of the date of the document and are subject to verification, completion and change The information contained in this document has not been verified by independe
Slide 3: Contents
1. Executive Summary 2. Financial information Contents 3. Stock market information 4. Sustainability | ESG 5. Outlook 6. Appendices 3
Slide 4: Executive Summary
1. Executive Summary Strong recovery in all management ratios, pending the complete post-pandemic normalisation of the business context € Net profit3 and Net Financial Order intake Revenue EBITDA EPS Debt NFD/EBITDA ESG €255M €86M €3,776M €2,943M €278M 1.1x 8.7% on sales €2.51 ∆ 1.8x ∆ 7% ∆ €54M ∆ €
Slide 5: Significant milestones achieved during the year
1. Executive Summary Significant milestones achieved during the year Strengthening of the Group's positioning in strategic geographic markets: France and Germany. ✓ Organically: very important orders received during the year. ✓ Inorganically: agreement for the purchase of important assets from Alsto
Slide 6: Differentiated positioning and leadership in sustainable mobility solutions
1. Executive Summary Differentiated positioning and leadership in sustainable mobility solutions Decarbonising passenger rail services Creating sustainable cities Battery-powered Urban buses of the e-mobility range LOW EMISSIONS ZERO EMISSIONS • Customer: ZV VRR and NWL, operators from the region of
Slide 7: Contents
1. Executive Summary 2. Financial information > Order intake Contents 3. Stock market information > Backlog > Consolidated statement of profit or loss 4. Sustainability | ESG > Consolidated balance sheet 5. Outlook 6. Appendices 7
Slide 8: Order Intake
2. Financial Information > Order Intake Getting back to the high pre-pandemic order intake levels and exceeding the book-to-bill target for the year The most important contracts added to the order backlog in 4Q2021 were: Railway Buses • Refurbishment of 23 units for the Cairo Metro (Egypt) • Hydroge
Slide 9: Order intake 2021 by segment and region
2. Financial Information > Order Intake Order intake 2021 by segment Order intake 2021 by geographic region Railway Main geographic regions Rolling stock BtB > 1 Germany France ▪ A number of contracts in the main European markets: Germany and France • The #1 global accessible railway • The #3 global
Slide 10: Order backlog at record high
2. Financial information > Order backlog Order backlog at record high1, providing high future revenue visibility Total (€M) Order backlog at 31/12/2021 by business Railway (€M) Bus Railway Integrated Solutions Rolling stock and Systems 50% ∆ 41% % Growth 14% 2,943 8,855 3,776 9,640 1 ∆ 9% 8,722 8,09
Slide 11: Consolidated statement of profit or loss
2. Financial information > Consolidated statement of profit or loss Growth in revenue and profit. Net profit higher than pre-pandemic figures Pre-pandemic 20191 2020 2021 Var. 2021/2020 (€M) Revenue 2,598 2,762 2,943 ∆ 7% EBITDA 244 201 255 ∆ 26% % EBITDA Margin 9.4% 7.3% 8.7% - D&A and impairments
Slide 12: Record revenue, exceeding market expectations
2. Financial information > Consolidated statement of profit or loss Record revenue, exceeding the expectations for market performance1 Revenue (€M) Total ∆ 9% Railway Strong railway business 2,222 2,037 ∆ 7% 1,948 Revenue (2021) by geographic region Rest of world 2,943 5% Spain 2,762 APAC 11% 2,598
Slide 13: Expansion in all railway businesses
2. Financial information > Consolidated statement of profit or loss Expansion in all railway businesses Revenue (€M) Railway Rolling stock Services Integrated Solutions and Systems (ISS) ∆ 5% ∆ 11% ∆ 15% 1,201 1,222 1,287 516 571 455 364 292 299 3 2019 2020 2021 2019 2020 2021 2019 2020 2021 on tota
Slide 14: Sound performance of Solaris
2. Financial information > Consolidated statement of profit or loss Sound performance of Solaris, set to continue in 2022 Solaris leads the European market for zero-emission urban buses in the last decade Revenue European market for electric and hydrogen urban buses3 2021 2012-2021 Buses 15.1% 15.5%
Slide 15: EBITDA and Net Profit
2. Financial information > Consolidated statement of profit or loss Positive performance and new all-time record for EBITDA in 2021, giving a Net Profit that exceeds pre-pandemic levels EBITDA (€M) and EBITDA Margin (%) Net Profit2 (€M) and Net Margin (%) ∆ 26% Buses 8% 200 4,0% Railway ∆ 44% 180
Slide 16: Consolidated balance sheet
2. Financial information > Consolidated balance sheet Strengthening of Equity and de-leveraging of the balance sheet 2020 2021 (€M) Contained CAPEX Fixed assets1 1,162 1,164 CAPEX (tangible + intangible) (€M) Working Capital3 106 140 44 46 Net Assets 1,268 1,304 2020 2021 Equity 644 740 Controlled w
Slide 17: Cash-flow and net financial debt
2. Financial information > Consolidated balance sheet The improved operating result, the containment of investments and maintenance of the working capital levels position the Cash-Flow for the period, prior to the dividend payment1, at €62M (€M) Cash-Flow=€62M 29 14 (154) 41 37 311 278 1 NFD 31.12.2
Slide 18: Financial position
2. Financial Information > Financial position Financial position at pre-acquisition levels. Financial soundness to undertake new growth initiatives Performance of NFD and NFD/Ebitda Ratio Available Liquidity (€M) 600 EuroMaint Acquisition 5,5x 500 Solaris Acquisition 433 4,5x 1,115 1,091 400 324 311
Slide 19: Shareholder remuneration
2. Financial information > Shareholder remuneration Substantial improvement in the shareholder remuneration capacity Earnings per Share-EPS (€) Dividend per Share-DPS (€) 3 12,0% 2,5 2.51 10,0% 2 8,0% 1,5 6,0% 2 1.00 1.24 1.27 1 0.84 0.77 4,0% 1.02 0.58 0.66 2.7% 0.72 0,5 2,0% 1.9% 1.8% 2.0% 2.1% 0.
Slide 20: Contents
1. Executive Summary 2. Financial information Contents 3. Stock market information 4. Sustainability | ESG 5. Outlook 6. Appendices 20
Slide 21: Stock market information
3. Stock market information 86% of analysts recommend BUYING CAF shares, with an average target price of €49/share1 CAF vs IBEX 35 performance Stock market information Shareholding structure 2021 Cartera Social IBEX 35 Market capitalization (EUR) 1,254,675,450 24.20% No. of shares 34,280,750 Free-fl
Slide 22: Contents
1. Executive Summary 2. Financial information Contents 3. Stock market information 4. Sustainability | ESG 5. Outlook 6. Appendices 22
Slide 23: Sustainability | ESG
4. Sustainability | ESG Progress and compliance with Sustainability targets Sustainable Business Figure Compliance with Sustainability KPIs 2 Sustainalytics ESG Rating European Leadership according to European Taxonomy1 40,0 ↓ better 35,0 31.8 Low 30,0 High Risk 28.5 Leader 81.67% 81% Risk 25,0 Medi
Slide 24: Contents
1. Executive Summary 2. Financial information Contents 3. Stock market information 4. Sustainability | ESG 5. Outlook 6. Appendices 24
Slide 25: Outlook
5. Outlook In a context of a positive sector outlook and in an ... in 2022, the CAF Group aspires to continue to grow in sales and environment with some uncertainty ... profits, while increasing the creation of shareholder value Positive outlook in the sector as a result of: With the reservations ge
Slide 26: Appendices
6. Appendices a | Order Intake Details b | Consolidated Financial Statements Details c | Sustainability KPIs d | Alternative Performance Measures (APMs)
Slide 27: Order Intake Details
CAF .....: a | Order Intake Details Contracts announced and included in the order backlog in the period from January - December 2024 Business Date Project Country Description Glient Type ioe Rolling Stock Rest of businesses ou Platform Business Scope Characteristics ia COTRAL taly Supply of buses No
Slide 28: Consolidated Financial Statements Details
b | Consolidated Financial Statements Details Detail of Balance Sheet (€M) 31/12/2020 31/12/2021 Var. % Assets Intangible assets 324 332 2% Property, plant and equipment 404 388 (4%) Intangible assets Investments accounted for using the equity method 7 17 143% Non-current financial assets 429 430 -
Slide 29: Consolidated Financial Statements Details
b | Consolidated Financial Statements Details Detail of Balance Sheet (€M) 31/12/2020 31/12/2021 Var. % Assets Intangible assets 324 332 2% Property, plant and equipment 404 388 (4%) Equity Investments accounted for using the equity method 7 17 143% Non-current financial assets 429 430 - The increas
Slide 30: Consolidated Financial Statements Details
b | Consolidated Financial Statements Details (€M) 2020 2021 Var. % Net Turnover 2,762 2,943 ∆ 7% The year-on-year 7% increase in net turnover is mainly attributable to recovering activity after the most severe stage of the pandemic. Growth in EBITDA 201 255 ∆ 26% rail sales amounted to 9.1% and -0.
Slide 31: Consolidated Financial Statements Details
b | Consolidated Financial Statements Details (€M) 2020 2021 Var. % Net Turnover 2,762 2,943 ∆ 7% The Financial Result was a loss of €38M, an improvement of €30M on the loss of €68M for FY 2020. This is primarily due to the lower impact of the EBITDA 201 255 ∆ 26% exchange rate differences (€24M les
Slide 32: Sustainability KPIs
c | Sustainability KPIs Actual Target Indicator Unit FY19 FY20 FY21 FY21 CO2 emission intensity1 t Co2 eq./ HHT 4.0 3.1 2.4 ● < 3.0 E Energy consumption per hour worked1 kwh/hours 3.1 3.5 3.5 ● < 3.5 ISO 14001 coverage % workforce 62 65 70 ● > 70 Order backlog for sustainable solutions % electric, h
Slide 33: Alternative Performance Measures (APMs)
c | Alternative Performance Measures (APMs) In addition to the financial information prepared according to the International Financial Reporting Standards (IFRS), for business management purposes, the CAF Group consistently and repeatedly uses certain Alternative Performance Measures (APMs) that inc
Slide 34: Well prepared and with discerning eyes
WELL PREPARED AND WITH DISCERNING EYES... THIS IS HOW WE APPROACH GLOBAL TRANSPORT. THIS IS HOW WE DESIGN, DEVELOP, MANUFACTURE, INSTALL, AND INTEGRATE ALL THE CONSTITUENT PARTS OF AN INTERCONNECTED TRANSPORT SYSTEM. WE DO THINGS YOUR WAY, TAILORING EVERYTHING TO YOUR SPECIFIC REQUIREMENTS AND PREFE