Ferrovial N.V. · BME:FER
Ferrovial — Shareholder Meeting (April 2023)
79 slides from Ferrovial's shareholder meeting presentation, April 2023
Slide 1: General Shareholders' Meeting
General Shareholders’ Meeting Managed Lanes in Dallas- Fort Worth. Texas. United States. ©José Manuel Ballester.
Slide 2: Chairman Rafael del Pino
CHAIRMAN Rafael del Pino Gran Vía street lighting in Madrid, Spain.
Slide 3: Secretary Santiago Ortiz Vaamonde
SECRETARY Santiago Ortiz Vaamonde On-site personnel New Terminal 1, JFK Airport, New York, United States.
Slide 4: Agenda
I-66/I-495 Toll Road. Virginia, United States. Agenda
Slide 5: Agenda
Agenda 1st Approval of the financial statements and non-financial information 2nd Application of the results 3rd Approval of the management of the Board of Directors 4th Re-election of the Company's Statutory Auditor 5th Re-election of Board Members
Slide 6: Agenda
Agenda 6th First capital increase through the issuance of ordinary shares 7th Second capital increase through the issuance of ordinary shares 8th Capital reduction by redemption of own shares 9th Approval of a share-based compensation system for the Board of Directors
Slide 7: Agenda
Agenda 10th Approval of the intra-community cross-border merger between Ferrovial, S.A. (absorbed) and its subsidiary Ferrovial International SE (absorbing) 11th Consultative vote on the Annual Report on Director Remuneration 12th Consultative vote on the Company’s Climate Strategy Report 13th Deleg
Slide 8: Provisional quorum
Provisional quorum Linha Amarela, Porto Metro, Portugal.
Slide 9: General Shareholders' Meeting
General Shareholders’ Meeting Managed Lanes in Dallas- Fort Worth. Texas. United States. ©José Manuel Ballester.
Slide 10: Chairman Rafael del Pino
CHAIRMAN Rafael del Pino Ostrôda bypass bridge, Poland. ©José Manuel Ballester.
Slide 11: 2022 Summary
Sydney Underground Tunnel Boring Machine, Australia. 2022 Summary
Slide 12: 2022 Summary
2022 Summary REVENUE 7,551 M! ! Growth in traffic +9.3% ! Managed Lanes ! 407 ETR ! Heathrow EBITDA 728 M! ! Improvement of operating results: +19.3% NET CASH CONSOLIDATED NET PROFIT POSITION (1) NET DEBT (2) 1,439 M! 5,781 M! 186 M! (1) Excl. Infrastructure projects (2) Incl. Infrastructure project
Slide 13: Investments
Investments !"#$%&' (TE, Texas, United States.
Slide 14: USA, main capital destination
USA, main capital destination INVESTMENTS 473 M! 186 M! INVERSIONES TOLL ROADS AIRPORTS 856 M! 856 M! 97 M! 100 M! CONSTRUCTION OTHERS
Slide 15: Divestments
Divestments Floating offshore wind platform, DemoSATH project, Bilbao, Spain.
Slide 16: Mainly in Europe
Mainly in Europe DIVESTMENTS 429 M! 295 M! 134 M! SERVICES TOLL ROADS AND OTHER
Slide 17: Backlog
Rutas del Loa, Antofagasta, Chile. Backlog
Slide 18: A record high
A record high CONSTRUCTION 13,068 M!* 83% INTERNATIONAL Ontario 51%* Metro Line OF NEW CONTRACTS FERROVIAL’S LARGEST- IN NORTH AMERICA EVER PROJECT * By Proportional Integration
Slide 19: Corporate reorganization
Corporate reorganization I-35 Waco, Texas, United States.
Slide 20: Corporate reorganization
Corporate reorganization +90% 90% 75% of international Institutional of value comes from value investors North America OPERATION ! Reverse merger with our subsidiary Ferrovial International Societas Europaea ! Parent company: head office in the Netherlands ! International growth NATURAL DEVELOPMENT
Slide 21: Share performance
Jorge Chavez Airport Control Tower, Lima, Peru. Share performance
Slide 22: Share performance
Share performance SHAREHOLDER RETURN IN 2022 TSR FERROVIAL IBEX35 -8.6% -11.2% -5.1% PERFORMANCE 2022 PERFORMANCE 2023 +12.8% -5.1% 27.14! +10.9% -11.2% D J F M A M J J A S O N D J F M A
Slide 23: Share performance since the merger announcement
28-feb.-23 01-mar.-23 02-mar.-23 03-mar.-23 04-mar.-23 05-mar.-23 06-mar.-23 February 28th, 2023 07-mar.-23 08-mar.-23 09-mar.-23 10-mar.-23 11-mar.-23 12-mar.-23 13-mar.-23 14-mar.-23 15-mar.-23 16-mar.-23 FERROVIAL 17-mar.-23 +3.35% 18-mar.-23 19-mar.-23 20-mar.-23 21-mar.-23 Share performance 22-
Slide 24: Shareholder remuneration
Shareholder remuneration Roadside assistance, 407 ETR Toll Road, Toronto, Canada.
Slide 25: Shareholder remuneration
Shareholder remuneration 2022 SHAREHOLDER 2023* PROPOSED SHAREHOLDER REMUNERATION REMUNERATION ! / share ! / share Scrip dividend 0.278 Projected Scrip dividend 0.286 (May 2022) Scrip dividend 0.414 Projected Scrip dividend 0.429 (November 2022) TOTAL 0.692 TOTAL 0.715 Buyback of up to 34 M shares c
Slide 26: Corporate governance
AV La Sagrera track assembly, Barcelona, Spain. Corporate governance
Slide 27: Corporate governance
Corporate governance INDEPENDENCE AND DIVERSITY ! AENOR Good Corporate Governance Certification ! 33% of females in the Board of Directors ! 67% independent members ! 23.4% of women in leadership positions INTERNAL REGULATIONS ! Approved ! Diversity and Inclusion Policy ! Human Rights Policy ! Corpo
Slide 28: ESG
ESG Ruta del Cacao, Antioquia, Colombia.
Slide 29: Sustainability indices and ratings
Member ot Dow Jones Sustainability Indices Powered by the SAP Global CSA + EURONEXT VE A 2 Standard Eves Index FTSE4Good STOXN | £5 Leaders Indices PROUD tobe oper of INESS FOR IFTAL IMPACT 2022- TOP RATED CLIMATE LBG Espaiia ISS ESG> [ Bloomberg \ Gende
Slide 30: Awards and recognitions
Awards and recognitions El Berrocal Solar PV solar photovoltaic plant, Seville, Spain.
Slide 31: Awards and recognitions
Premios y reconocimientos GRESB Awards CIONET Awards "Leader of Sustainable "Carbon Neutral Award" Development" "World's leading "Best Company in "Environmental protection, Cocoa Route. "Carbon sustainability Digital Transformation circular economy and low Neutral Certification" company" 2022" emiss
Slide 32: Conclusions and acknowledgements
Conclusions and acknowledgements Personnel on site for the undergrounding of the railway network, Murcia. Spain.
Slide 33: General Shareholders' Meeting
General Shareholders’ Meeting Managed Lanes in Dallas- Fort Worth. Texas. United States. ©José Manuel Ballester.
Slide 34: Óscar Fanjul, Chairman of the Audit and Control Committee
Tunnel in the Northern Line Extension, London, United. Óscar Fanjul CHAIRMAN OF THE AUDIT AND CONTROL COMMITTEE
Slide 35: Audit and Control Committee
Audit and Control Committee ! Composition: 4 Independent Directors ! 5 meetings in 2022 ! Activities in connection with: ! Oversight of financial and non-financial information ! Internal control system for financial information ! Internal audit ! Control and management of financial and non- financia
Slide 36: General Shareholders' Meeting
General Shareholders’ Meeting Managed Lanes in Dallas- Fort Worth. Texas. United States. ©José Manuel Ballester.
Slide 37: Chief Executive Officer Ignacio Madridejos
CHIEF EXECUTIVE OFFICER Ignacio Madridejos Pomeranian Metropolitan Railway, Gdansk, Poland. © José Manuel Ballester.
Slide 38: 2022 Results
Highway 407 ETR, Toronto, Canada. 2022 Results
Slide 39: 2022, a year of growth
2022, a year of growth ! Improved results ! Sustainability ! Traffic recovery ! Monitoring of the environment ! Construction performance ! Financial position
Slide 40: Plan Horizon 24: Year three
Plan Horizon 24: Year three People Operational excellence Sustainable growth Innovation ROADMAP ! Core growth ! Investment in new opportunities ! Expansion to digital and adjacent businesses ! Excel in operations ! Adapting the organization: talent and capabilities ! Portfolio simplification
Slide 41: 2022 Results
2022 Results M! 2022 2021 Var. 22-21 Revenue 7,551 6,910 9.3% EBITDA 728 610 19.3% EBIT* 423 1,479 Net income 186 1,198 Construction Construction Backlog Backlog 14,743 12,216 * After impairment and fixed assets disposals
Slide 42: Contribution by business
2022 Results CONTRIBUTION BY BUSINESS 4% 1% Energy Infra. Airports & Mobility 10% Toll Roads 550 M! 85% Toll Roads Construction 176 M! Construction 13 M! Energy Infra. Energía y & Mobility Movilidad -2 M! -9 M! &'%()%"* !"#$% 7,551 M! 728 M! REVENUE EBITDA
Slide 43: Geographic distribution
2022 Results GEOGRAPHIC DISTRIBUTION 40% 24% USA & Poland Canada 400 M! USA & Canada 11% 153 M! Other 113 M! Poland Spain 15% -24 M! 86 M! 10% Other United Spain United Kingdom Kingdom 7,551 M! 728 M! REVENUE EBITDA 85% INTERNATIONAL 84% INTERNATIONAL
Slide 44: Contribution by business, proportional integration
2022 Results CONTRIBUTION BY BUSINESS. PROPORTIONAL INTEGRATION 7% Energy Infra. 16% & Mobility Toll Roads 870M! Toll Roads 12% Airports 500 M! Airports 65% Construction 116 M! Construction 31 M! Energy Infra. & Mobility -6 M! Other 8,073 M! 1,511 M! REVENUE EBITDA
Slide 45: Geographic distribution, proportional integration
2022 Results GEOGRAPHIC DISTRIBUTION. PROPORTIONAL INTEGRATION 14% 21% 13% 34% Other United Other United Kingdom Kingdom 5% Poland 11% Poland 18% Spain 10% 36% 38% Spain USA & Canada USA & Canada 8,073 M! 1,511 M! REVENUE EBITDA 82% INTERNATIONAL 90% INTERNATIONAL
Slide 46: Cash flow
2022 Results CASH FLOW OPERATING CASH FLOW 1% 15% Airports Services Toll Roads (Dividends) 388 Airports (Dividends) 10 Construction 144 66% Toll Roads Services 93 23% Construction Others (-51) TOTAL 584 M!
Slide 47: Net cash position
2022 Results NET CASH POSITION. EX-INFRASTRUCTURE PROJECTS 2,182 1,991 1,439 M! 2020 2021 2022
Slide 48: Capitalization
2022 Results CAPITALIZATION 20,218 19,743 17,801 16,564 M! 2020 2021 2022 April 12th, 2023
Slide 49: Shareholder remuneration
2022 Results SHAREHOLDER REMUNERATION DIVIDENDS AND TOTAL SHARE BUYBACKS SHAREHOLDER RETURN (TSR) 578 M! -8.6%
Slide 50: Corporate operations
2022 Results CORPORATE OPERATIONS INVESTMENTS DIVESTMENTS ! New Terminal 1 JFK Airport: 49% of ! Services the consortium (1,140 M$) ! Spain and Portugal: 175 M! ! Dalaman International Airport: ! Amey: 132 M! acquisition of 60% (146 M!) ! Toll Roads ! Increase in I-77 stake: additional ! Algarve: 23
Slide 51: Milestones
Milestones HS2 Project, Lancashire, United Kingdom.
Slide 52: Milestones
Milestones JAN-MAR APR-JUN JUL-SEP OCT-DEC 1T 2T 3T 4T SPAIN FRANCE (Paris) TÜRKIYE (Dalaman) CANADA (Toronto) Sale of Infrastructure Construction award Acquisition 60% Airport Financial closing construction Services METRO PARIS DLM SOUTH ONTARIO METRO LINE Portobello Capital 181 M! 146 M! 2,042 M!
Slide 53: Traffic
Traffic I-77 Highway, United States.
Slide 54: Traffic: Toll Roads and Airports
Traffic: Toll Roads and Airports TOLL ROADS AIRPORTS ! Traffic: ! HAH ! 407 ETR: +30.5%* ! Traffic: +217% ! I-77: +18.7% ! Nº. of passengers (millions): 61.6 ! NTE: +9.2% ! LBJ: +7.3% ! AGS ! NTE 35W: -2.2% ! Traffic: +164% ! Nº. of passengers (millions): 9.2 ! DLM ! Traffic: +95.3% ! Nº. of passeng
Slide 55: Toll Roads
Toll Roads 407 ETR Toll Road, Toronto, Canada.
Slide 56: Toll Roads results
Toll Roads RESULTS M! 2022 2021 Var. 22-21 Revenue 780 588 32.6% EBITDA 550 415 32.5% EBIT 390 275 42.3% Dividends 388 469
Slide 57: Toll Roads revenue by geography
Toll Roads REVENUE BY GEOGRAPHY. PROPORTIONAL INTEGRATION 10% Other 11% Spain 16% India 63% USA & Canada 1,262 M! 89% INTERNATIONAL
Slide 58: Airports
New Terminal 1 Project, JFK Airport, New York, United States. Airports
Slide 59: Airports results
Airports RESULTS HAH AGS M£ 2022 2021 Var. 22-21 M£ 2022 2021 Var. 22-21 Revenue 2,913 1,214 140% Revenue 167 87 92.4% EBITDA 1,684 384 57.8% EBITDA 47 -6 - Traffic 61.6 19.4 217% Traffic 9.2 3.5 164% DLM M! 2022 2021 Var. 22-21 Revenue 44 - - EBITDA 35 - - Traffic 4.5 2.3 95.3%
Slide 60: Construction
Thames Tideway Tunnel. London, United Kingdom. Construction
Slide 61: Construction results
Construction RESULTS M! 2022 2021 Var. 22-21 Revenue 6,463 6,077 6.3% EBITDA 176 245 -28% EBIT 63 132 Operating cash flow (ex-infra) 144 44
Slide 62: Construction revenue by geography
Construction REVENUE BY GEOGRAPHY 10% Other 16% Spain 9% United Kingdom 28% Poland 37% USA & Canada 6,463 M! 84% INTERNATIONAL
Slide 63: Construction backlog by geography
Construction BACKLOG BY GEOGRAPHY 11% Other 15% Spain 7% United Kingdom 22% Polonia 45% USA & Canada 14,743 M! 85% INTERNATIONAL
Slide 64: Energy Infrastructure and Mobility
and Mobility Energy Infrastructure Transchile power transmission line, Chile.
Slide 65: Energy Infrastructure and Mobility
Energy Infrastructure and Mobility ENERGY ! Transchile (Araucanía): 204 km 220 kV double-circuit line ! Centella (Coquimbo): 256 km 220 kV double circuit line and a disconnecting substation ! Tap Mauro (Coquimbo): 2 transmission lines of 3 km long each at 220 kV ! Photovoltaic plant "El Berrocal" (S
Slide 66: Sustainability
Sustainability South Quay Expansion, Port of Huelva, Spain.
Slide 67: Roadmap to decarbonization
Roadmap to decarbonization CARBON FOOTPRINT (Scope 1&2, in absolute terms) ! 414,385 tons of CO2 ! -3.6% reduction with respect to 2021 (15,000 tons) ! Absolute reduction over 2009: ! Target 2022: -21.9%. ! Actual: -25.4%. CARBON FOOTPRINT (Scope 3, absolute terms) ! 3,995,000 tons of CO2 ! Increase
Slide 68: European Taxonomy
European Taxonomy ALIGNMENT Restrictive Scenario 0.01% Water 1.26% 0.29% 1.74% Others Transportation Others 18.36% Transportation 3.5% 0.01% Water Construction 0.63% Energy 25.02% 8.45% INCN CAPEX 6.40% 1.28% Energy Construction Sectorial Scenario 6.40% 0.58% 0.01% Energy Others Water 0.01% Construc
Slide 69: 2023 Priorities
2023 Priorities I-66 Highway Sensors, Virginia, United States.
Slide 70: 2023 Priorities
2023 Priorities PEOPLE OPERATIONAL EXCELLENCE ! Ensure health, integrity and well-being ! Agile, efficient and innovative operating ! Attract and retain the best talent model ! Strengthen local talent ! Asset and dividend optimization ! Promote diversity and inclusion ! Inflation management ! Advanc
Slide 71: General Shareholders' Meeting
General Shareholders’ Meeting Managed Lanes in Dallas- Fort Worth. Texas. United States. ©José Manuel Ballester.
Slide 72: Final quorum
Caser Residence, Majadahonda, Spain. Final quorum
Slide 73: Shareholders remarks
H7 site personnel, Heathrow Airport, London, United Kingdom. Shareholders remarks
Slide 74: General Shareholders' Meeting
General Shareholders’ Meeting Managed Lanes in Dallas- Fort Worth. Texas. United States. ©José Manuel Ballester.
Slide 75: Agenda
I-66/I-495 Toll Road. Virginia, United States. Agenda
Slide 76: Agenda
Agenda 1st Approval of the financial statements and non-financial information 2nd Application of the results 3rd Approval of the management of the Board of Directors 4th Re-election of the Company's Statutory Auditor 5th Re-election of Board Members
Slide 77: Agenda
Agenda 6th First capital increase through the issuance of ordinary shares 7th Second capital increase through the issuance of ordinary shares 8th Capital reduction by redemption of own shares 9th Approval of a share-based compensation system for the Board of Directors.
Slide 78: Agenda
Agenda 10th Approval of the intra-community cross-border merger between Ferrovial, S.A. (absorbed) and its subsidiary Ferrovial International SE (absorbing) 11th Consultative vote on the Annual Report on Director Remuneration 12th Consultative vote on the Company’s Climate Strategy Report 13th Deleg
Slide 79: General Shareholders' Meeting
General Shareholders’ Meeting Managed Lanes in Dallas- Fort Worth. Texas. United States. ©José Manuel Ballester.