1. No category

Corporate Profile
Forum Economique Maroc/Portugal,
20 avril 2015 – Lisbonne
Brisa Overview
Strategic Vision
Brisa Overview
Strategic Vision
Credentials
Leading European Motorway Company
Pioneer in electronic toll collection (ETC)
•
6 concessions in Portugal
–
–
–
–
•
International footprint
–
–
–
•
Average life of 25 years
1,557 km
24 motorways
Market share of 43% (in km)
NWP Concession in Colorado, USA
Tolling and Mobility Services, Holland
OMT Services, India
End to end (full-fledged) offer
–
–
World class best practices
State of the Art Technology
+ 40 years of experience with proven results delivered
4
Shareholders
Treasury
Shares
José de Mello is one of Portugal's biggest
corporate groups, playing a diversified role in
the economy. Its competitive position rests on
business platforms held by José de Mello, SGPS
in:
Free Float (OTC)
2%
8%
37%
•
Brisa
•
Efacec
•
CUF
•
José de Mello Imobiliária
•
José de Mello Saúde
53%
45%
100% private company
Arcus Infrastructure Partners is an independent
fund specialized in European infrastructures,
currently managing investments with an
aggregate enterprise value of €12 billion. Arcus
aims to deliver attractive returns and yield over
the long term through active management of
infrastructure assets throughout Europe.
5
Footprint
Mix of developed and emerging markets
6
Portfolio
Brisa
Parent Co
O&M
Services
Motorway
Concessions
Other
Infrastructures / services
60%
40%
40%
50%
100%
40%
16%
70%
100%
60%
45%
81%
36%
30%
100%
100%
100%
15%
Complementary business units
1
1. Includes investments in road concessions and
car parks in Portugal, Spain, France and Poland
7
Efficiency as a key driver for value creation
Via Verde
•
Provides Electronic Toll Collection (ETC) services to
all Portuguese tolled concessions (Brisa & non
Brisa)
•
Focus on lowering cost per transaction to
concessionaires
3.5 million customers
 +600 k transactions per day

•
Increase number of transactions benefiting from
economies of scale
•
Augmented product and service to customers
(example: car parks, gas stations, drive-thru)
Strong brand equity
8
Streamlined Operations
9
Innovation & Technology
•
R&D Network: Brisa has developed
partnerships with more than 40
institutions and 60 researchers
•
Assure the state-of-the art on
technological knowledge of ITS and
maximize efficiency for Brisa
Concessions, growing in selected
external markets
Focus on value creation enhancement
10
Financials (Main Concession)
Debt structure (nominal)
EBITDA - Capex
Million euros
2013
2014
∆
Operating income
439,6
465,5
5.9%
Toll revenues
427.5
451.1
5.5%
Service areas
8.6
8.9
3.7%
Other operating revenues
3.5
5.5
59.1%
Operating expenses
-122.7
-123.5
0.7%
Supplies and services
-120.2
-120.9
0.6%
Personnel costs
-1.4
-1.5
5.3%
Other operating expenses
-1.1
-1.1
-0.9%
EBITDA
316.9
342.1
7.9%
EBITDA Margin
72.1%
73.5%
1.4pp
28.9
26.9
-7%
288.0
315.2
9.4%
Capex
EBITDA - Capex
Million euros
YE 12
YE 13
∆
YE 14
∆
Bonds
1 788
1 408
-380
1 483
+75
EIB
702
663
-39
624
-39
Bank facilities
36
82
+46
52
-30
2 159
+6
339
+200
1 820
-194
Total
Cash
Net debt
2 526 2 153 -373
310
139
-171
2 216 2 014 -202
Solid financials with resilient cash-flow generation
Default level: ˃ 8,0
Trigger/Lock-up level:
˃ 6,5 up to 2H2013
˃ 6,25 in 1H2014
11
Brisa Overview
Strategic Vision
Strategic
vision
Portfolio objectives
1st level objective
Value creation as the key measure to
evaluate portfolio evolution
–
–
Optimize current business value creation
New businesses to increase portfolio’s current
profitability
2nd level objective
Growth as the key driver of return to
shareholders
–
–
Continuous business model innovation
Invest in value growth options
Agenda for growth with a balanced risk approach
13
Looking further into the future
Brisa Vision 2025
“Delivering efficient mobility for the people”
This vision is aligned with the new Mobility Era through being an:
EFFICIENCY-FOCUSED SERVICE PROVIDER
Be an active partner towards a sustainable transport system, pursuing a highly
efficient business and in harmony with stakeholders expectations
CUSTOMER CENTRIC ORGANIZATION
Provide customer oriented, innovative and efficient mobility and accessibility
solutions through safe, comfortable and eco-efficient transport infrastructures
14
Ambition with a track record of
value delivered.
To be continued.