Ferrovial N.V. · BME:FER
Ferrovial — Q1 2020 Earnings Presentation
16 slides from Ferrovial's earnings presentation, May 2020
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Slide 2: Disclaimer
Disclaimer This presentation is not a set of Interim Accounts as per IAS 34. Q1 financial information included in this presentation has been impacted by the COVID-19 outbreak, mainly in the second half of March. However, at this stage, given the uncertainty about the speed and extent of the resumpti
Slide 3: 1Q2020 overview - an unprecedented global health crisis
1Q2020 overview — ANUNPRECEDENTED GLOBAL HEALTH CRISIS Toll Roads: Negative traffic in 2H of March following Gov. measures ¥ Main impact on light traffic. Heavy traffic shows more resilience Airports: strong impact on traffic in 2H of March in Heathrow & AGS i eee ew Construction & Services: limited
Slide 4: Toll Roads - traffic impacted by COVID-19 across the board
Toll Roads — TRAFFIC IMPACTED BY COVID-19 ACROSS THE BOARD EUR) Results / contribution from Toll Roads 192020 % CHLFL* ° Revenues up: higher contribution from US MLs & Revenues 133 +6.9% despite COVID-19 impacting traffic across the Reported EBITDA 93 +7.3% board EBITDA margin 69.8% * Heavy traffic
Slide 5: 407 ETR - solid financial position
Equity method, FER 43% Toronto, Canada 407 ETR = SOLID FINANCIAL POSITION (CADme) 192020 performance Liquidity position 192020 CH ° No default ratio Revenues 288 6.9% ° Dividend lock up ratio 1.35x EBITDA 239 -9.2% ° Liquidity remains strong, approx.CAD1.5bn EBITDA mg 82.9% (inc. CAD800mn full drawd
Slide 6: Managed Lanes - heavy vehicles showing more resilience
Global Consolidation Managed Lanes — HEAVY VEHICLES SHOWING MORE RESILIENCE seer SD) 192020 performance Liquidity position EBITDA growth EBITDA mg © No default ratio ae rn Soon Dividend lock-up ratio of 1.2x at NTE & LBJ and 1.3x NTE3SW +56.0% 84.2% at NTE 35W * Heavy traffic: higher weight over tot
Slide 7: AH - significant impact on business but high levels of liquidity
AH — SIGNIFICANT IMPACT ON BUSINESS BUT HIGH LEVELS OF LIQUIDITY Operational performance 14.6mn PAX (-18.3% 19 2020) * Cargo increased for vital supply lines ° Protecting health & safety of pax. * Protecting LT value: initiatives with airlines & retailers Strong Liquidity £3.2bn cash & committed fac
Slide 8: AGS - tough quarter on COVID & Flybe collapse
AGS — TOUGH QUARTER ON COVID & FLYBE COLLAPSE fwIaconw Inrarnarinnai As rnort Operational performance Financial performance «| 192020. %CH 192020 %CH ee Traffic 2.1 -23.9% Revenue 35. --16.1% Glasgow 13 -21.9% EBITDA 5 -55.4% Aberdeen 0.5 -19.5% 7 Southampton 0.2 -40.0% Eee" pee al * 2.1mn Pax. (-23
Slide 9: Construction - limited impact from COVID-19, better CF generation
_—. =“ Construction — LIMITED IMPACT FROM COVID-19. BETTER CF GENERATION (€ mn) Operating & financial performance 192020 main figures ° Results as expected in budget with better cash flow 192020 192019 % CHLFL i performance due to cash generation in Poland, thanks Revenues 1,243 1,093 11.9% to prepa
Slide 10: Services (discontinued activity) - BRS divestment: one step forward
——— ee 4, i i Services (discontinued activity) - BRS DIVESTMENT: ONE STEP FORWARD (Emo) | PT ae eS 1 a Broadspectrum disposal to Ventia Divestment process ready to restart * ACCC’ authorization received with reopening of economies * Only FIRB authorization pending Better ACF evolution Discontinued a
Slide 11: Consolidated P&L
Consolidated P&L P&L (EUR mn) 192020 192019 REVENUES 1,379 1,229 Construction Provision (1Q 2019) ) -345 fr ae Period depreciation -49 -33 Disposals & impairments ) -11 EBIT 26 -275 Infrastructure projects -59 -64 Exinfrastructure projects -2 3 FINANCIAL RESULTS -62 -61 Equity- accounted affiliates
Slide 12: Net cash position evolution
(€mn) ual — i = 7 (26) (6) Ee (47) a aE ‘ 1,631 1,645 NCP Dec'l9 Dividends EBITDA* WC Taxes Investments Divestments Shareholder Other NCP Mar'20 i from projects evolution Remuneration financing | (Share Buyback) cash flows * EBITDA excludes contribution from projects but it includes EBITDA from Serv
Slide 13: Horizon - a new operating model
Horizon 24 — ANEW OPERATING MODEL Amore agile, innovative and efficient organization Restructuring advancing: €39mn provision registered in 1Q 2020 c.€20mn expected saving in 2020 €50mn annual savings from 2021 B
Slide 14: Ferrovial scrip dividend approved
Ferrovial scrip dividend approved on the back of better-than- budgeted activity cash flow & solid financial position First scrip dividend: €0.312 fixed guaranteed price 71 rights required for a new share Second scrip dividend to be decided upon COVID-19 evolution & business performance
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Slide 16: 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: [email protected] website: www.ferrovial.com MEMBER OF 2015 Constituent Dow Jones MSCI %:: | MSCI Global Sustainability Indices *“* | Sustainability Indexes In Collaboration