commitment to sustainability FY 2019 GRUPO ORTIZ PRELIMINARY RESULTS PRESENTATION 26 February 2020 Unaudited data
commitment to sustainability INDEX 1. Grupo Ortiz Description 2. Consolidated revenues and EBITDA for 2019 3. Non-consolidated revenues and EBITDA for 2019 4. Measurement of the Grupo Ortiz's investments 5. Consolidated results at year-end 6. Consolidated/Non-consolidated indebtedness and ratio compliance 7. Grupo Ortiz in the world 8. Grupo Ortiz's current portfolio 9. Concessions area 10. GOP REIT and rental 11. Domestic and International Energy Area 12. Domestic and International Infrastructure Area 13. Human Resources 14. Sustainability 2
commitment to sustainability 1. GRUPO ORTIZ DESCRIPTION 3
1. GRUPO ORTIZ DESCRIPTION commitment to sustainability GRUPO ORTIZ is a business group whose parent is ORTIZ CONSTRUCCIONES Y PROYECTOS, S.A ., and subsidiaries specialising in diverse activities. • Its first and foremost objective is to obtain, on its own or with others, basic services concessions (road, energy and hospital infrastructure) with multilateral financing in different countries. • Development of prime real estate projects for rental , which will continue to grow over time. • EPC for large energy projects in all the areas: energy generation, transmission and distribution and its operation and maintenance in Spain and other countries, mainly in Latin America. • EPC for large infrastructure: roads, railways and hospitals in Spain and especially abroad . 4 Unaudited data .
1. GRUPO ORTIZ DESCRIPTION: BUSINESS AREAS commitment to sustainability GRUPO ORTIZ COMPREHENSIVE INFRASTRUCTURE AND ENERGY CONCESSION COMPANY o The Group's strategic growth area o Generating value with rental assets INFRASTRUCTURE CONCESSIONS ENERGY GOP REIT 670 km 2 hospitals Road Hospital Offices Homes infrastructure infrastructure 365 beds Service Car parks, 465 MWp 3,600 parking stations, sports premises, spaces centres Renewable warehouses EPC for renewable Car parks, energy, lines and Infrastructure environmental and energy substations cultural infrastructure 18 km and 8 subs. • Market capitalisation: €105.8 • • Revenues: €318.5 Mn Revenues: €308.6 Mn Mn • Grupo Ortiz's investments made + • REIT ranked 28 in the committed: € 864 Mn MAB (Alternative Stock • • 49% of the total 51% of the total Market) by market • 25 concession projects capitalisation (out of 76) 5 Unaudited data .
commitment to sustainability 2. CONSOLIDATED REVENUES AND EBITDA 6
2. CONSOLIDATED REVENUES AND EBITDA FOR 2019 commitment to sustainability GRUPO ORTIZ'S REVENUES FOR 2019: €640.23 Mn INCREASE IN PROFITABILITY: + 18% Change 2018 2019 2015-2019 performance Consolidated 2018-2019 revenues €605.34 Mn 640,23 REVENUES + 6% €640.23 Mn 605,34 €46.43 Mn €39.37 Mn + 18% EBITDA 429,20 376,30 347,20 EBITDA without + 57% €26.37 Mn sales €41.50 Mn - 62% EBITDA from sales €13.00 Mn €4.93 Mm REIT sale Arce Villalba sale 2015 2016 2017 2018 2019 7 Unaudited data . Data in millions of euros.
2. 2019 CONSOLIDATED REVENUES AND EBITDA BY BUSINESS AREA commitment to sustainability REVENUES EBITDA MARGIN DOMESTIC INFRASTRUCTURE 186.35 10.30 5.53% INTERNATIONAL INFRASTRUCTURE 122.29 9.20 7.52% BUSINESS AREAS DOMESTIC ENERGY 32.24 1.95 6.05% INTERNATIONAL ENERGY 286.29 18.76 6.55% RENTAL 2.05 5.15 251% DEPENDENT CONCESSIONS 11.01 1.07 9.72% CONSOLIDATED GROUP 640.23 46.43 7.25% 1%2% 2% Domestic Domestic infrastructure 22% infrastructure 11% International International 29% VENUES infrastructure infrastructure EBITDA Domestic energy Domestic energy REVE EBI 20% RE International energy International energy 44% 19% 4 … Rental assets Rental assets 4% 5% 8 Data in millions of euros. Unaudited data .
commitment to sustainability 3. NON-CONSOLIDATED REVENUES AND EBITDA 9
commitment to sustainability 3. NON-CONSOLIDATED REVENUES AND EBITDA AND GROUP EBITDA GENERATION GROUP EBITDA Dividends/Interest on EQUITY-ACCOUNTED CONCESSIONS Revenues (% Ortiz) EBITDA (% Ortiz) subordinated debt composition DOMESTIC 26.98 20.56 3.71 RECURRING ADDITIONAL THERMOSOLAR PLANT 15.79 11.54 0.83 EBITDA IBIZA TOLL ROAD 5.00 4.56 2.35 €8.29 Mn VIARIO TOLL ROAD 4.82 4.16 0.40 BULEVAR ARTE y CULTURA 1.37 0.30 0.13 ALTEN EL CASAR PV PLANT INTERNATIONAL 3.13 2.30 2.02 TEPIC HOSPITAL (MX) 0.23 CONSOLIDATED EBITDA CONEXIÓN NORTE ROAD (COL) 1.23 €46.43 Mn TRANSVERSAL DEL SISGA ROAD (COL) 0.56 ALTEN INTERNACIONAL 3.00 2.25 MEDSOLAR (IT) 0.13 0.05 TOTAL GROUP CONCESSIONS 30.11 22.86 5.73 Dividends/Interest on EQUITY-ACCOUNTED RENTAL COMPANIES Revenues (% Ortiz) EBITDA (% Ortiz) subordinated debt GROUP EBITDA GOP REIT 4.30 3.07 2.56 €54.72 Mn TOTAL RENTAL 4.30 3.07 2.56 Total dividends and TOTAL REVENUES TOTAL EBITDA interest on subordinated debt 34.41 25.93 8.29 10 Unaudited data .
commitment to sustainability 4. MEASUREMENT OF INVESTMENTS 11
commitment to sustainability 4. MEASUREMENT OF GRUPO ORTIZ'S INVESTMENTS INVESTMENTS IN CONCESSION ASSETS INVESTMENTS IN RENTAL ASSETS INVESTMENTS CARRYING INVESTMENTS CARRYING CONCESSION ASSETS RENTAL ASSETS % Grupo Ortiz AMOUNT % Grupo Ortiz AMOUNT IBIZA ACCESS ROAD 23.4 6.1 REIT 87.3 52.3 VIARIO A-31 19.1 1.6 ARROYO BUTARQUE 23.6 23.6 LA ATALAYUELA 13.3 13.3 LA AFRICANA THERMOSOLAR PLANT 111.4 18.5 CONEXIÓN NORTE ROAD (COLOMBIA) 55.4 13.7 ENSANCHE DE VALLECAS PLOT 1.1 1.1 TRANSVERSAL DEL SISGA ROAD (COLOMBIA) 41.0 17.2 MONTE ELVIRIA OJEN DEVELOPMENT 3.7 1.3 TEPIC HOSPITAL (MEXICO) 30.8 7.5 (MALAGA) ALTEN INTERNACIONAL (America Cubico and TOTAL RENTAL ASSETS 129.20 91.82 28.5 7.3 Africa) ALTEN EL CASAR PHOTOVOLTAIC PLANT 5.1 2.1 INVESTMENTS CARRYING OTHER LAND MEDSOLAR (Italy) 0.4 0.4 % Grupo Ortiz AMOUNT BAC 3.1 1.4 LAND IN VALDECARROS 3.2 3.2 COLLADO VILLALBA CONCESSION 19.2 15.7 LAND IN LOS CERROS 0.6 0.6 GO BARAJAS 3.7 3.7 REYES CATOLICOS CAR PARK IN ZAMORA 11.2 6.7 LAND IN EL CASAR 5.1 5.1 PAR MADRID 8.4 8.4 OTHER LAND 5.8 5.8 JOINT VENTURE IN MALAGA 1.9 1.9 TOTAL OTHER LAND 14.9 14.9 ENERGY EFFICIENCY 1.1 1.1 TOTAL €143.9 Mn €106.1 Mn TOTAL CONCESSION ASSETS €364.2 Mn €113.8 Mn TOTAL INVESTMENTS % GRUPO ORTIZ* €508.2 Mn * Investments = Equity + Debt % Grupo Ortiz €220.4 Mn TOTAL CARRYING AMOUNT 12 Unaudited data .
commitment to sustainability 5. PRELIMINARY ACCOUNTING CLOSING 13
commitment to sustainability 5. CONSOLIDATED CLOSING BALANCE (PENDING AUDIT) Income statement December 2019 December 2018 640,234 605,305 1. Revenues - - 2. Change in inventories of finished goods and work in progress 1,843 1,667 3. Work performed by the company for its assets (480,955) (464,971) 4. Supplies 513 549 5. Other operating income (82,494) (77,997) 6. Staff costs (38,245) (40,387) 7. Other operating expenses (4,620) (5,371) 8. Depreciation and amortisation charge 14 13 9. Non-financial capital grants (2,979) 1,408 11. Impairment and gains/(losses) on disposal of fixed assets 5,618 13,004 12. Gains/(Losses) on the loss of control of consolidated stakes (811) 152 13. Other results 38,118 33,372 A.1) Operating profit/(loss) 4,705 3,548 14. Finance income (17,690) (19,010) 15. Finance expenses (116) (1,010) 16. Changes in the fair value of financial instruments (181) (7,945) 17. Exchange differences (857) (246) 18. Impairment and gains/(losses) on disposal of financial instruments (14,139) (24,663) A.2) Finance income/loss 19. Profit/(Loss) from equity-accounted companies 5,423 3,582 20. Impairment and gains/(losses) on the loss of significant influence over equity-accounted stakes - 4,970 29,402 17,261 A.3) Profit/(Loss) before tax 14 Unaudited data. Data in millions of euros
commitment to sustainability 6. CONSOLIDATED AND NON-CONSOLIDATED DEBT 15
commitment to sustainability 6. COMPOSITION OF CONSOLIDATED DEBT IN 2019 AND RATIO COMPLIANCE DEBT REDEMPTION IN 2019 Composition of consolidated gross debt : €189 Mn Project debt redemption € 12.20Mn : 189,24 Redemption of the syndicated tranche A: € 5.37 Mn Redemption of MARF bonds maturing in 2019: € 23.8 Mn TOTAL DEBT REDEEMED IN 2019: € 41.37 Mn 65,75 DEBT IN 2019 38,63 37,05 33,44 = 14,35 Increase in gross debt + 7% on 2018: + + + • + More investments than divestments: € 10 Mn TOTAL 2019 SYNDICATED BONDS WORKING CDTIS & PROJECTS CAPITAL other • TOTAL IN 2019 New REIT financing with DB UK envisaged in 2019 and financial liabilities delayed until February 2020: € 13 Mn RATIO COMPLIANCE IN 2019 141,56 NFD/EBITDA RATIO (DEBT ONLY 2.75 2.59 WITH RECOURSE) 54,72 NFD + INDIRECT DEBT/INDIRECT 3.65 2.71 EBITDA RATIO EBITDA/NET FINANCIAL 2.75 DFN EBITDA 7.50 EXPENSE RATIO Data in millions of euros 16 Unaudited data.
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