APPENDIX

Appendix I- Segmented Information

TOLL ROADS – GLOBAL CONSOLIDATION

(EUR Million) TRAFFIC (ADT) REVENUES EBITDA EBITDA MARGIN NET DEBT 100%
Global consolidation DEC-21 DEC-20 VAR. DEC-21 DEC-20 VAR. DEC-21 DEC-20 VAR. DEC-21 DEC-20 DEC-21 SHARE
NTE* 33 25 32.7 % 159 109 45.8% 139 93 50.0% 87.4% 84.9% -1,075 63.0%
LBJ* 37 30 23.0 % 113 91 23.8% 87 63 38.1% 77.0% 69.1% -1,757 54.6%
NTE 35W*/** 35 28 26.8 % 120 85 41.2% 101 71 42.0% 83.9% 83.4% -928 53.7%
I-77 * 28 20 45.8 % 31 16 96.5% 17 4 n.s. 54.9% 24.9% -231 65.1%
TOTAL USA 423 301 40.5% 343 230 49.1% -3,991
Autema 15,390 12,671 21.5 % 60 51 18.3% 53 43 21.7% 87.5% 85.1% -621 76.3%
Aravia*** 32,353 26,750 20.9% 39 34 13.1% 33 28 15.3% 84.3% 82.7% -48 60.0%
TOTAL SPAIN 99 85 16.2% 86 72 19.1% -669
Azores 10,361 8,815 17.5 % 28 24 17.1% 25 21 20.4% 87.0% 84.6% -273 89.2%
Via Livre 13 13 3.9% 2 2 2.5% 17.4% 17.6% 5 84.0%
TOTAL PORTUGAL 42 37 12.6% 27 23 18.7% -268
TOTAL 25 16 59.9% -41 -45 10.2%
TOTAL TOLL ROADS 588 439 34.1% 415 280 48.6% 70.6% 63.7% -4.928

* Traffic in millions of transactions. ** NTE 35W includes contribution from NTE3C (under construction). Net debt 100%: includes all 3 segments. ***ARAVIA ,the contract for the conservation and operation of the section of the A2 highway, has been excluded from the scope of Services sale. In 2021, it has been reclassified to continuing operations in Toll Roads.

TOLL ROADS – EQUITY-ACCOUNTED

(EUR Million) TRAFFIC (ADT) REVENUES EBITDA EBITDA MARGIN NET DEBT 100%
Equity accounted DEC-21 DEC-20 VAR. DEC-21 DEC-20 VAR. DEC-21 DEC-20 VAR. DEC-21 DEC-20 DEC-21 SHARE
407 ETR (VKT mn) 1,696 1,500 13.0% 692 591 17.1% 581 481 20.7% 84.0% 81.4% -6,070 43.2%
M4 29,951 25,214 18.8% 27 22 19.0% 15 13 10.3% 55.1% 59.5% -57 20.0%
M3 35,701 31,927 11.8% 18 20 -7.1% 12 12 -6.4% 63.0% 62.6% -63 20.0%
A-66 Benavente Zamora 23 25 -5.0% 21 22 -5.0% 88.4% 88.3% -153 25.0%
Serrano Park 6 4 38.7% 3 -1 n.s 48.6% -22.8% -32 50.0%
EMESA 153 157 -2.9% 83 94 -11,8% 54.5% 60.0% -47 50.0%
Algarve 13,101 10,893 20.3% 31 33 -4.6% 27 28 -4.7% 86.0% 86.1% -71 20.0%
Norte Litoral* 23,833 21,741 9.6% 21 38 -45.7% 18 33 -44.9% 87.4% 86.2% -87 20.0%
Toowomba 26 25 4.8% 6 5 11.9% 23.1% 21.6% -232 40.0%
OSARs** 42 35 19.6% 11 6 82.7% 25.2% 16.5% -398 50.0%
Zero ByPass (Bratislava)** 51 31 65.2% 44 26 73.8% 87.3% 83.0% -783 35.0%

* EMESA, the maintenance contract of the M-30 road in Madrid, has been excluded from the scope of Services sale. In 2021, it has been reclassified to continuing operations in Toll Roads.
**Norte Litoral sale was completed in July 2021. Traffic up to September 2021. P&L 2021 until July and P&L 2020 up to September.
***OSARs and Zero ByPass opened to traffic in 2021, although the project were not 100% completed. OSARs open to traffic in November 2021, but the final acceptance is expected in 2022. Zero ByPass opened to traffic in October 2021, although the Final Occupation Permit is pending and it is expected in 2022.

MAIN TOLL ROADS (P&L)

407 ETR

(CAD Million) DEC-21 DEC-20 VAR.
Revenues 1,023 909 12.6%
EBITDA 859 740 16.1%
EBITDA margin 84% 81.4%
EBIT 757 642 17.8%
EBIT margin 74.0% 70.7%
Financial results -465 -441 -5.5%
EBT 291 201 44.8%
Corporate income tax -79 -53 -47.9%
Net Income 212 148 43.6%
Contribution to Ferrovial equity accounted result (EURmn) 52 33 58.2%

LBJ

(USD Million) DEC-21 DEC-20 VAR.
Revenues 133 104 27.3%
EBITDA 102 72 42.0%
EBITDA margin 77.0% 69.1%
EBIT 76 48 56.9%
EBIT margin 57.0% 46.2%
Financial results -80 -98 18.4%
Net Income -5 -50 90.5%
Contribution to Ferrovial* -2 -24 90.5%

*Globally consolidated asset, contribution to net profit (EURmn). 54.6% stake

NTE

(USD Million) DEC-21 DEC-20 VAR.
Revenues 187 125 50.0%
EBITDA 164 106 54.3%
EBITDA margin 87.4% 85%
EBIT 129 87 48.7%
EBIT margin 69.0% 69.7%
Financial results -51 -51 -0.4%
Net Income 78 36 113.9%
Contribution to Ferrovial* 42 20 108.0%

 

*Globally consolidated asset, contribution to net profit (EURmn). 62.97% stake.

NTE 35W

(USD Million) DEC-21 DEC-20 VAR.
Revenues 142 98 45.3%
EBITDA 119 82 46.1%
EBITDA margin 83.9% 83.4%
EBIT 95 62 52.4%
EBIT margin 66.5% 63.4%
Financial results
-43
-41 -5.0%
Net Income 51 21 145.2%.
Contribution to Ferrovial* 23 10 138.2%.

*Globally consolidated asset, contribution to net profit (EURmn). 53.67% stake.

I-77

(USD Million) DIC-21 DIC-20 VAR.
Revenues 36 18 102.1%
EBITDA 20 4 n.s.
EBITDA margin 54.9% 24.9%
EBIT 13 1 n.s.
EBIT margin 37.0% 3.6%
Financial results
-12
-11 -3.2%
Net Income 2 -10 118.5%
Contribution to Ferrovial* 1 -5 122.9%

*Globally consolidated asset, contribution to net profit (EURmn). 65.10% stake

AIRPORTS (P&L)

Heathrow SP & HAH

Revenues EBITDA EBITDA margin
(GBP Million) DEC-21 DEC-20 VAR. DEC-21 DEC-20 VAR. DEC-21 DEC-20 Var. (pbs)
Heathrow SP 1,214 1,175 3.3 % 384 270 42.2 % 31.6 % 23.0 % 863
Exceptionals & adjs 0 0 50.8 % -27 -182 85.1% -101.7 % n.a. n.a
Total HAH 1,214 1,175 3.3 % 357 89 303.2 % 29.4 % 7.5 % -2,186

HAH

(GBP Million) DEC-21 DEC-20 VAR. LfL
Revenues 1,214 1,175 3.3 % 3.3 %
EBITDA 357 89 n.s. 42.0 %
EBITDA margin 29.4 % 7.5 %
Depreciation & impairments -828 -848 -2.3 % 2.3 %
EBIT -472 -759 37.9 % 23.3 %
EBIT margin -38.8 % -64.6 %
Financial results -1,509 -855 -76.6 % -29.4 %
EBT -1,981 -1,614 -22.7 % -4.7 %
Corporate income tax 319 206 54.9 %. n.s.
Net Income -1,662 -1,408 -18.0 % n.s.
Contribution to Ferrovial equity accounted result (EUR mn) -238 -396 39.9 % n.s.

AGS

(GBP Million) DEC-21 DEC-20 VAR
Total Revenues AGS 87 71 22.5%
Glasgow 45 34 33.3%
Aberdeen 32 28 13.7%
Southampton 9 9 8.3%
Total EDIBTA AGS -6 -25 76.2%
Glasgow -2 -16 84.6%
Aberdeen 3 0 n.s.
Southampton -6 -9 25.6%
Total EBITDA margin -6.8% -34.9% n.s.
Glasgow -5.4% -46.7% n.s.
Aberdeen 9.5% -0.4% n.s.
Southampton -69.7% -101.4% n.s.

CONSTRUCTION

CONSTRUCTION DEC-21 DEC-20 VAR. LfL
Revenues 6,077 5,984 1.6 % 3.1%
EBITDA 245 214 14.6% 16.4%
EBITDA margin 4.0 % 3.6%
EBIT 132 101 31.3% 32.1%
EBIT margin 2.2% 1.7%
Order book 12,216 11,276 8.3% 7.4%
BUDIMEX DEC-21 DEC-20 VAR. LfL
Revenues 1,735 1,726 0.5  % 2.7%
Construction 1,598 1,689 -5.4 % -3.3 %
FB Serwis 171 136 25.2 % 27.9 %
Others -34 -99
EBITDA 158 130 21.8 % 24.7 %
EBITDA margin 9.1 % 7.5 %
EBIT 126 100 26.3 % 29.3 %
Construction 95 87 9.1 % 11.5 %
FB Serwis 18 17 6.6 % 8.9 %
Others 13 -4
EBIT margin 7.3 % 5.8 %
Order book 3,092 3,083 0.3% 0.7 %
WEBBER DEC-21 DEC-20 VAR. LfL
Revenues 950 1,038 -8.5% -5.8%
EBITDA 58 49 17.1% 20.9%
EBITDA margin 6.1% 4.8%
EBIT 34 22 54.1% 59.8%
EBIT margin 3.6% 2.1%
Order book 1,865 1,486 25.5% 16.7%
F. CONSTRUCTION DEC-21 DEC-21 VAR. LfL
Revenues 3,204 3,053 5.0% 5.6%
EBITDA 2 14 -83.8% n.s.
EBITDA margin 0.1% 0.5%
EBIT -40 -26 -49.6% n.s.
EBIT margin -1.2% -0.9%
Order book 6,377 5,561 14.7% 10.9%
OTHERS DEC-21 DEC-21 VAR. LfL
Revenues 188 166 13.4% 16.6%
EBITDA 26 20 35.3% 39.2%
EBITDA margin 14.1% 11.8%
EBIT 12 5 124.2% 130.7%.
EBIT margin 6.2% 3.1%
Order book 881 1,146 -23.1% -0.9%

EBIT before impairments and disposals of fixed assets

SERVICES

SERVICES* DEC-21 DEC-20 VAR. LfL
Revenues 5,090 4,681 8.7% 9.0%
EBITDA 365 217 67.9% 78.0%
EBITDA margin 7.2% 4.6%
Order book 8,373 8,293 1.0% 8.3%
UK DEC-20 DEC-19 VAR. LfL
Revenues 2,890 2,547 13.5% 9.5%
EBITDA 131 44% 198.9% 116.8%
EBITDA margin 4.5% 1.7%
Order book 8,079 7,993 1.1% 8.3%
CHILE DEC-21 DEC-21 VAR. LfL
Revenues 130 110 18.8% 18.1%
EBITDA 13 6 102.9% 68.5%
EBITDA margin 9.8% 5.8
Order book 294 300 -2.2% 9.1%

*Excluding the activities whose sale has been completed in 2021, along with the Infrastructure Services business to Portobello, whose sale was closed on January 31st, 2022.

SPAIN DEC-21 DEC-20 VAR. LfL
Revenues 1,952 1,881 3.7% 10.6%
EBITDA 221 172 28.1% 48.4%
EBITDA margin 11.3% 9.1%
North America DEC-21 DEC-20 VAR. LfL
Revenues 118 143 -17.4% -11.5%
EBITDA 0 -5% 106.9% 117.8%
EBITDA margin 0.3% -3.5%

EBIT before impairments and disposals of fixed assets
Others include the Infrastructure Maintenance Services in USA and Canada