Ferrovial N.v. · BME:FER
Ferrovial — H1 2019 Earnings Presentation
17 slides from Ferrovial's earnings presentation, Jul 30, 2019
Slide 1: 1H 2019 Results
1H 2019 Results 30 July 2019 To Dallas Pkwy Inwood Rd To Dallas North Tollway J a Midway Rd Welch Rd Dallas Pkwy/ Inwood Rd : aa ~ A HIGHER RATES FOR NO TAG | ; : OR LARGER VEHICLES |
Slide 2: Disclaimer
Disclaimer This presentation has been produced by Ferrovial, S.A. (“the Company”) for the sole purpose expressed therein. Therefore, neither this document nor any of the information contained herein constitute or form part of and should not be construed as, an offer to purchase, sale or exchange any
Slide 3: 1H 2019 Highlights
1H 2019 Highlights To Dallas Pkwy = 407ETR +7% EBITDA (severe weather impacting traffic) a= Inwood Rd o) Alto Dallas North = MLs performance boosted by new connections S Tollway JW = 38.8mn passengers (+1.8%) = Expansion masterplan consultation launched " Provision for future losses (1Q 2019) " Focu
Slide 4: Toll Roads
Toll Roads ** %LFL: change vs 1H2018 excluding perimeter & FX changes. 1H2019 % CHLFL* Revenues 287 33.6% EBITDA 206 46.8% Margin 71.7% * Exc. headquarters USA s 62% m= USA = Rest (€ mn) * 100% equity value equivalent to €688mn * — Call/put option for remaining 15% ° — Capital gains aprox.€474mn inc
Slide 5: 407 ETR
HQ) 7 Fala fre) od, Fey raviat stake%3% Toronto, Canada <-- Solid results 75% Traffic (VKT) -2.0% -10% 0 Revenues 71% 77% EBITDA 47% 8.9% Margin 85.0% 89.0% PS -14% Traffic (VKT) Revenues EBITDA Dividends CAD700mn CAD610mn CAD500mn a om, ess Se, Le * Strong EBITDA growth (+7.1%) despite lower traffi
Slide 6: 407ETR: Strong impact on traffic of severe weather
407ETR Strong impact on traffic of severe weather * Jan: record single day snowfall on a workday (24cm) * Coldest May in over 10 years * Feb: 18mm freezing rain all falling within workdays * 98mm of precipitation (+51% vs 2018) * 5 major winter school closures, school bus cancellations * Avg high te
Slide 7: Managed Lanes
ManagedLanes . ee Outstanding performance continues * Unemployment in Dallas (3%) at two-decade low * North Texas economy strong & diverse, outperforming US at-large. NTE mainly benefited from the opening last year of NTE35W and SH183. * Smaller positive impact of the 183 managed lanes also observed
Slide 8: Managed lanes - I-77
Video: Using 1-77 Express Managed lanes - I-77 Global consolidation, 50.1% stake Charlotte, North Carolina, USA 182,000 12,500 500,000 40% $3-5/month Different Unique Total trips % of users Monthly bill vehicleshave Vehicles every on|-77 with for most used I-77 weekday transponder users @ tasers | m
Slide 9: Heathrow
ea FW Equity consolidated, 25% stake London, UK (GBP mn) Record traffic once again (+1.8%) Retail revenues +3.4% MAIN FIGURES HEATHROW SP HEATHROW TRAFFIC BY AREA EBITDA: +7.0% (+3.9% exIFRS16) 38.8mn passengers UK 1405 4.0% 1461 249 0.8% 251 328 3.4% 339 5.2% 1H 2018 1H 2019 "Aeronautical m Retail
Slide 10: Heathrow: Net zero carbon targets and sustainable expansion
10 Heathrow Net zero Carbon in Heathrow 2.0 targets Carbon neutral airport Zero carbon airport Carbon neutral growth operations from 2020 operations by 2050 from the new runway Sustainable expansion Construction to mitigate environmental impact (i.e. pioneering offsite manufacturing) Capacity to be
Slide 11: Construction: 1Q 2019 provision
1Q 2019: €345mn provision 2Q 2019: Y Client work orders pending sign-off Y Compensation events not recognized Y Central overhead costs allocation FY2019: v_ EBIT(e) around current levels Revenues EBITDA EBITDA% EBIT EBIT % Order book 1H 2019 RESULTS 1H2019 % Ch 2,308 -7.0% -329 ns. -14.3% -346 ns. -
Slide 12: Services divestment
(€ mn; LfL figures) Services (discontinued activi Services divestment 1H2019 Performance (exsH™) Two separate sale processes » Revenues +10.5% ° EBITDA +9.4% * Spain + Broadspectrum + RoW: « Lower order book (-5%) due to BMH exit vy Finalizing due diligence ¥ Binding offers coming SPAIN: Revenues (+
Slide 13: Consolidated P&L
Consolidated P&L P&L (EUR mn) 1H2019 1H2018 UREVENUES 2,603 2701 | Construction Provision -345 EBITDA ex-IFRS 16 -132 208 EBITDA -116 Period depreciation -74 -57 Disposals &impairments -21 -16 EBIT -211 135 Infrastructure projects -129 -111 Exinfrastructure projects 28 B FINANCIAL RESULTS -101 -98 E
Slide 14: Net Debt evolution (ex-infrastructure)
(€mn) Net Debt evolution ( ex-infrastructure) Including discontinued activities NCP Dic'2018 Dividends from © EBITDA* ~—Non-cashimpact Construction © WC evolution — BMH cash flow Taxes NetInvestment Shareholder Other NCP Jun'19 projects Construction provision Remuneration provision** —_application**
Slide 15: Final remarks
Final remarks... +45.4% EBITDA growth at NTE Managed Lanes continue booming +10.5% 407 dividend growth 407 solid performance despite weather 32 Consec months of record traffic in Heathrow New record high supported by higher passenger satisfaction €482mn Net cash position ex-infra level Strong positi
Slide 16: Photo:/401 West (July 2019) . ~ a
Photo:/401 West (July 2019) . ~ a ie ie <
Slide 17: 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