Ferrovial N.V. · BME:FER
Ferrovial — Q1 2023 Earnings Presentation
18 slides from Ferrovial's earnings presentation, May 11, 2023
Slide 1: Q1 2023 Financial Results
Q1 2023 Picture: LBJ FINANCIAL RESULTS 11 May 2023 1 May 2023
Slide 2: Disclaimer (I)
DISCLAIMER (I) The information contained in this presentation may not be used as the basis to enter into any contract or agreement and nothing herein constitutes an offer, invitation or recommendation to engage in investment (or disinvestment) in the shares, or any other financial instrument, of Fer
Slide 3: Disclaimer (II)
DISCLAIMER (II) Notice to US holders It may be difficult for U.S. holders of the Company’s shares to enforce their rights and claims arising out of the U.S. federal securities laws (as well as the laws of any other Restricted Country), since the Company and FISE are located in Spain and the Netherla
Slide 4: Q1 2023 Overview
Q1 2023 OVERVIEW SOLID PERFORMANCE IN ITS MAIN ASSETS • Toll Roads: Solid traffic increase vs Q1 2022. MLs posted strong revenue growth • Airports: strong traffic recovery • Construction: profitability in line with 2022 CASH POSITION • No significant cash consumption in the quarter despite seasonali
Slide 5: Toll Roads: Strong Growth from US Assets
TOLL ROADS STRONG GROWTH FROM US ASSETS Q1 2023 PERFORMANCE vs Q1 2022 EUR mn MAR-23 % Ch LfL Revenues 223 37.0% EBITDA 158 41.1% EBITDA mg 70.8% +50.2% +47.4% I-66 1st full quarter Revenue EBITDA since opening ASSETS UNDER DEVELOPMENT • • • • • • • Pic: I-66 May 2023 5
Slide 6: 407 ETR: Gradual Traffic Improvement
407 ETR GRADUAL TRAFFIC IMPROVEMENT DESPITE WIDENING IMPACT & SEASONALITY Q1 2023 PERFORMANCE vs Q1 2022 CAD mn MAR-23 VAR. Traffic (VKT mn) 480 28.4% Revenues 295 24.6% EBITDA 242 24.6% EBITDA mg 82.2% DIVIDENDS • • 407ETR PERFORMANCE vs. 2019 & 2022 (VKT) 51.9% 28.4% Pic: 407 ETR 20.6% 19.1% -14.5
Slide 7: Toronto: Improving Regional Mobility
TORONTO IMPROVING REGIONAL MOBILITY EVOLUTION OF 407, MAIN ALTERNATIVES & URBAN TRANSIT* EMPLOYERS ARE SEEKING TO INCREASE OFFICE DAYS IN 2023 (vs. 2019) 407 ETR VKT Urban Transit Main Alternatives RBC tells employees to return to the office three or four days a week (21 March 2023) -12% -12% -29% C
Slide 8: DFW Managed Lanes: Strong Revenue/Transaction Growth
DFW MANAGED LANES STRONG REVENUE/TRANSACTION GROWTH AVG REVENUE PER TRANSACTION NTE LBJ NTE35W +8.5% +8.9% +9.1% Q1 2023 PERFORMANCE (vs. Q1 2022) NTE VAR. LBJ VAR. NTE35W VAR. Transactions Revenues EBITDA EBITDA mg TRAFFIC PERFORMANCE vs Q1 2022 14.6% 13.5% NTE LBJ 3.5% NTE 35W Pic: LBJ NTE LBJ NTE
Slide 9: DFW Region Update
DFW REGION UPDATE TEXAS REACHES THREE NEW JOBS RECORDS IN MAR’23, LEADING US JOB GROWTH* Number of Corporate Headquarters moves** companies 70 60 Avg headquarters Jobs growing moves to DFW 50 Texas is #1 at a faster rate vs More jobs added above 45% 40 in the US than all other states (2014-2022) US
Slide 10: I-66: Traffic and Revenue Ramping Up
I-66 TRAFFIC AND REVENUE RAMPING UP Q1 2023 PERFORMANCE RECENT DEVELOPMENTS IN THE CORRIDOR * Monthly Transactions (mn) Northern Virginia Bioscience Center in Prince William County, opened in Spring 2022. USD mn MAR-23 2.2 A 30,000 ft2 of lab facility Transactions 6 Revenues 26 1.8 1.8 Manassas Park
Slide 11: I-77: Revenues Growing Due to Higher Tolls
I-77 REVENUES GROWING DUE TO HIGHER TOLLS & STRONG TRAFFIC GROWTH Q1 2023 PERFORMANCE vs Q1 2022 USD mn MAR-23 VAR. Transactions 9 24.0% Revenues 18 68.8% EBITDA 13 119.1% EBITDA mg 69.3% REVENUES • • Revenue/transaction (USD) 2.1 +37.9% 1.5 MAR-22 MAR-23 REGION UPDATE • ‐ Charlotte (3.5%) outpaced
Slide 12: Heathrow: Strong Start to the Year
HEATHROW STRONG START TO THE YEAR Q1 2023 PERFORMANCE vs Q1 2022 (Heathrow SP) GBP mn MAR-23 VAR. Revenues 814 57.8% EBITDA 486 78.0% EBITDA mg 59.7% OPERATIONAL PERFORMANCE MONTHLY TRAFFIC (passengers mn) 9 8 16.9mn pax 7 +75% vs Q1 2022 6 -5.7% vs Q1 2019 5 4 3 2 Jan Feb Mar Apr May Jun Jul Aug Se
Slide 13: Other Airport Assets
OTHER AIRPORT ASSETS AGS - ONGOING TRAFFIC IMPROVEMENT DALAMAN – 1ST Q WITH INT’L TRAFFIC ALL 3 MONTHS GBP mn MAR-23 VAR. EUR mn MAR-23 Revenues 37 24.4% Revenues 2 EBITDA 7 91.4% EBITDA* -1 EBITDA mg 19.2% EBITDA mg -61.6% Operating performance MONTHLY TRAFFIC (passengers mn) Operating performance
Slide 14: Construction: Profitability in Line with Q1 2022
CONSTRUCTION PROFITABILITY IN LINE WITH Q1 2022 Q1 2023 PERFORMANCE vs 2022 EUR mn MAR-23 MAR-22 % Ch LfL Revenues 1,492 1,387 6.6% EBITDA 43 36 20.0% EBITDA mg 2.9% 2.6% EBIT 12 10 31.4% EBIT mg 0.8% 0.8% Order book* 14,525 14,743 -0.9% Pic: Sydney Metro, Tunel Boring Machine, Australia BUDIMEX Str
Slide 15: Main Consolidated Figures
MAIN CONSOLIDATED FIGURES (LfL VARIATION vs. Q1 2022) 1,805mn 189mn 94mn REVENUES EBITDA EBIT +11.2% +39.4% +43.0% NET DEBT EVOLUTION (EX-INFRASTRUCTURE) 2 11 17 (32) (90) (52) 49 1,439 1,343 NCP Dec'22* Dividends EBITDA WC Taxes Net Investment Shareholder Other NCP Mar'23* from projects evolution R
Slide 16: Closing Remarks
May 2023 CLOSING REMARKS • • • • • 16 Pic: Solar Photovoltaic Plant “El Berrocal PV” (Seville, Spain)
Slide 17: Q&A
Q&A May 2023 17
Slide 18: Investor Relations Department
INVESTOR RELATIONS DEPARTAMENT Ferrovial Corporación, S.A. Príncipe de Vergara, 135 28002 Madrid (Spain) Tel. +34 91 586 27 30 Fax +34 91 586 28 69 [email protected] www.ferrovial.com May 2023 18