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Abertis Link magazine no. 8 July 2013


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  • 1. JULY 2013 Nº08 – SECOND PERIOD INTERVIEW Carlos Bastarreche, Spanish ambassador to France p. 24 REPORT United States and Mexico: priority markets p. 22 Settinga course to newmarkets
  • 2. WE HAVE REDOUBLED OUR EFFORTS TO ACHIEVE MORE STREAMLINED MANAGEMENT ADAPTED TO THE CIRCUMSTANCES; WE HAVE SIZE ON OUR SIDE AND, WITH SIZE, MORE STRENGTH AND SPACE TO CONTINUE TO GROW” SALVADOR ALEMANY PRESIDENT OFABERTIS EDITORIAL We live in a global world where eco- nomicuncertainty–withthedisparities of the economic cycle in different regions – uncertainty and also to some extent geopo- litical insecurity,including also the impacts of naturaldisastersandtheaccelerationofchanges inthewayoffocusingbusinesses–forexample, due to the effect of information technologies –paintwhatsomepeoplehavecalleda“VUCA” (Volatility,Uncertainty,Complexity and Ambiguity)world. These are therefore uncertain times, at leastintheWesterncountriesoftheNorthern hemisphere.Rather,they are times when we might have – and this is perhaps especially perceptibleinEurope–afeelingofalackofsure referencesthatdelimitthesidesoftheroad. In this context,each of us,as executives, shouldadoptanattitudewhichalsospeaksto cultureandvalues.Attitudessuchas: Resilience,withregardtopositiveresist- ance.Withoutthispositiveresistanceandstrong senseofcommitment,withvisionandalong- termstory,thereisnoplanandnofuture. Adaptation,whichisbasicallyrelatedto actingafterhavingmadeasuitableinterpreta- tionofthecontext. Anticipation,whichinvitesusnottowait passivelyforthefuture,buttogooutandseek it.An enterprising attitude that prepares us to make the most of opportunities,and there is nodoubtthatabertishasdevelopedthisabil- ityforanticipation. Andfinally,Transformation.Likeanticipa- tion, a positive attitude towards the future. Directedatourtakingresponsibilityforwhatis happeningtousbecauseweourselvespropose ourownprocessoftransformation. Inshort,theyareresponsesthatimprove our ability to govern and lead our own future. Toknowhowtoreadandinterpretthecontext and anticipate it.I believe that abertis,both for its past and present,is a good example of how these responses can be integrated and combined. Inthesamewaythatinthelate1990sand startofthe21stcenturywecommittedtobuild- ingagroupofglobalinfrastructuresintheinter- nationalsense,anddiversifiedintofiveactivity sectors,theintensificationoftheeconomicand financialcrisissince2008/2009,veryparticularly inEuropeandSpain,hasledustoredefineour sectorial strategy in order to concentrate our resourcesandcapacitiesongrowingandgetting stronger in the sectors where we are best pre- paredtoexerciseclearleadershipandaroleofa worldwidereferencepoint. Theroadtravelledandthethingswehave achieved suggest that we don’t need to be smaller in Spain,but that fundamentally we will have to be – as we already are becoming –biggerinothercountries.Wearethetoll-road leadersinBrazil,ChileandSpain,andinFrance toowearemaintainingasolidpositionamong leadingtoll-roadoperators,placingusinthebig leagueofinternationaltoll-roadmanagers. Thedecisionswehavetakensincethisfirst major crisis of the 21st century kicked off has provideduswithfocus:wehaveredoubledour effortstoachievemorestreamlinedmanage- ment adapted to the circumstances;we have size on our side and,with size,more strength and space to continue to grow.We were pre- pared and we reacted in time,by anticipating whatwastocome. Todayabertisisamorecompetitivegroup foroperatinginaglobalenvironment,whilewe havealsoreducedourexposuretoriskycountries. Inotherwords,astheeconomiccycleisasym- metrical–theoverallworldeconomyisgrowing yet there is still a recession in Europe,where it even appears to be taking a deeper hold – our geographicpresenceshouldalsorespondtothe asymmetricalrealitythathasusinitsgripand wemustknowhowtoseeitasanopportunity andmakethemostofit. Thisis,inshort,oneofourgoalsasaglobal company:thattheoutcomeofthegeographic mixwithinthegroupasawholemayaffordus thepossibilityofsustainedgrowth,regardless of the particular phase of the economic cycle inanyonepartoftheplanet. Thiswillallowustocapitaliseinaclearly positive sense on the uncertainties arising from this“VUCA”world,as well as its oppor- tunities. Prepared for a “VUCA” world JULY 2013 LINK abertis 3
  • 3. 06OPINION Ginés de Rus Infrastructures and Harberger’s triangle 14INTERVIEW Luis Miguel de Pablo “abertis hasexperiencein integrationandvaluecreation” 18TEAM CorporateLegalDepartment Code of ethics consultant 22REPORT Internationalisation United States and Mexico: priority markets 24INTERVIEW Carlos Bastarreche “Internationalisation involves adapting better to demand” 28TRAVEL Sao Paulo The great Brazilian megalopolis 26REPORT LatinAmerica abertis, biggest toll road operator in Chile 32REPORT Port Mann Bridge abertis manages the toll on the widest bridge in the world 34REPORT abertis autopistas Chile Route 68 gets an e-toll 35REPORT Central toll road Opening of the third lane of the Chilean toll road 36REPORT abertis autopistas San Rafael andVillacastín open third lane 38REPORT New junctions on theAP-7 Works coming along well in Girona 40REPORT Truck Plan programme New discounts for truck drivers 42REPORT Global Gathering Fourth convention of corporate managers 44REPORT Public-private cooperation Meeting on the viability of these types of initiatives 45REPORT abertis telecom Contract with Terrassa Municipal Police 46REPORT MobileWorld Congress Ultra High Definition television arrives 48NEWS Amazonas 3 48 Successful launch of the new Hispasat satellite abertis award 50 10th abertis chair-UPC awards link abertis SUMMARY Nº08 4 LINK abertis JULY 2013 Setting a course to new markets 08REPORT
  • 4. 66RESULTS January-March 2013 Rise in net profit 72SHAREHOLDERS’ MEETING abertis quadruples its main figures 73BOARD OF DIRECTORS Reductioninthemaximum numberofboardmembers Investor’s link link abertisis a publication of Abertis Infrastructuras,SA Av.del Parc Logístic,12-20. 08040 Barcelona. Tel.:93 230 50 00.Fax:93 230 50 02. EDITED AND COORDINATED BY: abertis Corporate Communication Department. EDITORIAL BOARD: SalvadorAlemany, Francisco Reynés,JoséAljaro,Josep Maria Coronas,Toni Brunet,Juan María Hernández Puértolas,Sergi Loughney and Joan Rafel. CORPORATE IMAGE AND PRODUCTION: Erik Ribé,Bernat Ruiz and Joan Fontanals. CONTENT COORDINATION: Alícia Cobeña. EDITORIAL:Alícia Cobeña,Gemma Gazulla, Marc Gómez and Leticia Gonzálvez. CONTRIBUTORS:ChristineAllard,Bob Bullock, Sergio Castilla,Joan Fontanals,Enric Pérez, Mercedes Pérez-Cruz,Roser Prenafeta,Marc Ribó, Bernat Ruiz,abertis,abertis autopistas, abertis telecom,abertis airports and abertis foundation. PRODUCTION: Ediciones Reunidas,SA (Grupo Zeta). Revistas Corporativas Barcelona. Consell de Cent,425.08009 Barcelona. Tel.:93 265 53 53. Manager:ÒscarVoltas.Editorial coordinator: Nuria González.Chief reporter:Toni Sarrià. Editorial:Marta Carrera,Gemma Figueras, Paco Martínez andToni Capilla. Layout:CristinaVilaplana and Xavier Julià. Published by:Ares Rubio. Legal deposit:B-16432-2010. abertis shareholder service line:902 30 10 15. abertis accepts no responsibility for the opinion of its contributors in the work published,nor does it necessarily identify with their opinions. JULY 2013 LINK abertis 5 14 2418 48 56 42 46 32 abertis foundation 52 Vía-T free for handicapped motorists Mèdol quarry 54 abertis presents restoration project of the archaeological site next to theAP-7 DalíRetrospective56 abertisfoundation sponsors exhibition at the Reina Sofía Responsibledriving58 New road safety campaign from the abertis foundation 60BRIEFS abertis news Other Group-related news in brief
  • 5. 6 LINK abertis JULY 2013 Good network planning, competent regulators and agencies dedicated to evaluating and channelling private participation are what are needed to obtain positive social benefits At the first National Congress on InvestmentProjectEvaluationheldin Santiago de Chile last December to which I was honoured to be invited, social defence ministerJoaquínLavíndefendedtherelevance of analysing infrastructure investment so that“everythingdowntothelastpesospent” would deliver social gains.As an example of poor practice, the minister referred to the existence of empty airports in Spain,a situ- ationwhichinhisopinionwasduetothelack of economic evaluation of these infrastruc- tures in our country. Around 200 people attended the con- gress.The inaugural conference was led by Arnold Harberger, 89, who in the 1950s defined the famous“triangle”that bears his name and which measures the inefficiency causedbycertainpublicpolicies.Inthe1970s, asheadoftheEconomicsDepartmentatthe University of Chicago, he visited Chile together with Milton Friedman. Since then, many of the brilliant Chilean economists havestudiedatleadingNorthAmericanuni- versities.ProfessorHarbergerstilladvisesthe Chilean government today on investment evaluation methodologies. Inmyspeech,Istatedmydisagreement withtheminister.Theexcesscapacityofmany infrastructures in some countries, Spain amongthem,isnotamethodologicalproblem. It is not the lack of economic evaluation of projects that explains the construction of overambitious works. Many of the projects were built with Community funding and to access European funds it was necessary to presentacost-benefitanalysis.Theproblem is simpler to identify and harder to fix.The problem is one of institutional design and incentives,andisfoundinatleastthreelevels: regional,national and supranational. Projectevaluation On occasions, the evaluation methodology isconceivedbyeconomiststoselectprojects that boost social wellbeing but it becomes an administrative requirement, a barrier, whethertoaccesspublicbudgetsorEuropean funds. Despiteallthemethodologicaladvances and accumulated experience, I believe that whatHarbergersaidin1964stillstandstrue: “I believe we should assume that our future cost and benefit estimations (particular the latter) will inevitably be subject to a broad marginoferror,againstwhichitdoesn’tmake much sense to focus on subtleties aimed at preciselydiscriminatingbetweeninvestments thatcouldhaveanexpectedreturnof10.5% and those that would only give 10%. In the first instance we want to be capable of dis- tinguishingthe10%investmentsfromthose thatcouldyield5or15%,hopingfortheday whenthemanyproblemsofprojectevalua- tion have been satisfactorily settled so that wecanseriouslyattempttodistinguishyields of 10% with respect to those of 9 or 11%.” We have to change the institutional frameworkandincentivestoavoidtwoprob- lems: one, that of the political potential for discretionaluse,guidedbyelectoralobjectives that are more or less immediate and which can lead to specifying the execution of projectswithnegativesocialgains.Theother problemisrelatedtotheexistenceofvarious levels of government,which makes it profit- OPINION BY GINÉS DE RUS Infrastructures and Harberger’s triangleChair of Applied Economics, University of Las Palmas de Gran Canaria, he has a master’s degree in Transport Economics from the University of Leeds (UK), where he obtained a doctorate in economics in 1984 Heiscurrentlythe professorofCost- BenefitAnalysisonthe Master’scoursein IndustrialEconomicsat theCarlosIIIUniversity inMadrid,wherehe hasbeenthehead oftheMaster’s programmein TransportEconomics. Hehasandcontinues tocollaboratewith organisationsincluding theEuropean Commission,the EuropeanInvestment Bank,theWorldBank, theInter-American DevelopmentBank,the Tribunalforthe DefenceofCompetition andtheMinistryof EconomyandFinance. www.evaluacionde IT’S NOT A QUESTION OF INCREASING THE SIZE OF THE PUBLIC ADMINISTRATION BUT USING ITS RESOURCES IN A DIFFERENT FASHION
  • 6. JULY 2013 LINK abertis 7 able for the government for projects to be activatedwithresourcesfromotherlevelsof theAdministration when the municipality, region or state – depending on the case – wouldneverbuildthemwiththeirownmoney. Thisisatypeof‘prisoner’sdilemma’inwhich even if everyone gets ruined in the end, the best individual strategy is to push on ahead. Independentorganisations Whatcanwedo?Allowmetomakeanumber ofproposalsforinfrastructuresandareference to the upcoming book by the Chileans Engel, FischerandGaletovicTheEconomicsofPublic- PrivatePartnerships:ABasicGuide,wherethese ideasarepresentedinamasterlyfashion. Abasicstartingconditionistoimagine the ministry responsible in each case as the party that plans the infrastructure network butneitherbuildsnoroperatesitdirectly,and doessotoprovidetheeconomywithneces- sary and possible infrastructures, avoiding levelsofsub-optimalcapacity.Itsinstitutional design should be modified to reduce the political potential for discretional use and increase the weight of technical decisions whenitcomestosolvingtechnicalproblems. For the purposes of making decisions on investments or regulation, responsibility Ifwehavegoodnetworkplanning,com- petentregulatorsandagenciesdedicatedto evaluatingandchannellingprivateparticipa- tion, we should leave almost all transport servicesuptoprivateinitiative.Thislasttask is being rolled out slowly in Spain but the institutional change I have described is still pending and without it privatisation does notnecessarilyimprovethestartingcondition with public production. You might think that this is very costly, given the circumstances we find ourselves in,butcomparedtothecostsandinefficien- cies of the present system, the benefits of such a reform would be immense. Further- more, it’s not a question of increasing the size of the public administration but using its resources in a different fashion.* THE EXCESS CAPACITY OF MANY INFRASTRUCTURES IS NOT A METHODOLOGICAL PROBLEM, BUT ONE OF INSTITUTIONAL DESIGN AND INCENTIVES should not be functionally segregated by modes of transport but there should be an approach which assesses the transport sys- temasawholewiththesubsequentinterac- tions.The investment evaluation should be carried out by an independent and profes- sionalorganisationthatalsoevaluatesallof the investments in transport altogether. Anotherindependentorganisation,different tothepreviousone,shouldawardandman- age the concession contracts for private participationinallmodesoftransport.Finally, another organisation would be in charge of contract renegotiations. It doesn’t seem to be very logical that the same body that awards is the one that renegotiates when there is a change in conditions that could affect the balance of the concession. * Extract from the article originally published on the blog Nada es Gratis, 27 February, 2013. Reproduced with the author’s permission.
  • 7. abertis’s growth and internation- alisationprocessisunstoppable.“We will go out and seek markets that are grow- ing.We have the talent and ability to do it,” abertis president SalvadorAlemany said in an interview last May.2013 is proving to be a year of challenges for the company: it is working on consolidating the new assets acquiredthroughout2012(ChileandBrazil), to be able to apply the good practices and efficiency criteria that are already reaping rewardsfortherestoftheGroup'stollroads. Furthermore, the company continues to boost its geographic diversification,analys- ing different opportunities that could come upinthecountrieswhereithassetitssights: the US, Mexico, Brazil and Colombia. But what has led abertis to focus on some countriesinLatinAmericainsteadofothers? The nature of abertis’s business, as a concessionaire company, requires a long- term relationship with the administrations and society where it operates.That is why itprioritisescountrieswherethereisgreater legal safety and a clear regulatory frame- work.ManycountriesontheAmericancon- tinent such as the ones already mentioned presentthesecharacteristics,whiletheyare also countries with important economic growth and significant needs to modernise their infrastructures.That is where abertis has focused its attention for its growth REPORT strategy. The company’s CEO, Francisco Reynés, acknowledges that abertis has reduced its “overexpansion” to European markets,whicharenothavingthebesttime at the moment.“We have to make a strong commitment to growing right across the American continent. We are looking at opportunities to shore up our presence in Brazil, Chile and Mexico,”the CEO said. Selectivegrowth The Group’s internationalisation process began in 2006 with the acquisition of the Frenchconcessionairesanef andhasinten- sified particularly in the past three years with a strategy of selective growth and focusing on businesses where the Group can develop its business vocation and bring greater value to the shareholder. A few months ago, Francisco Reynés defined the Stable countries enjoying economic growth, with solid legal frameworks and financial capacity.These are the destinations where the company has set its sights with regard to future projects Setting a course to new markets Internationalisation TEXT AND PHOTOS abertis AT THE CLOSE OF 2012, 55% OF THE COMPANY’S REVENUE CAME FROM ABROAD. IN 2013, ABERTIS WILL GENERATE OVER 60% OF ITS EBITDA OUTSIDE OF SPAIN 8 LINK abertis JULY 2013
  • 8. Since 2009, the company has doubled the number of subsidiaries, 32 in 2013, and kilometres that it manages: 7,300.
  • 9. Tollroads Telecommunicationsinfrastructures Airports 10 LINK abertis JULY 2013 abertis in the world Canada United States Brazil Argentina Colombia United Kingdom Mexico Jamaica Puerto Rico Spain Ireland Chile
  • 10. JULY 2013 LINK abertis 11 roadmap thus:“We are prioritising interna- tionalisation above the diversification of activities.We have achieved a position of world leadership in toll roads and are in the processofbecomingmoreintensiveonthat front.And we are studying opportunities in telecommunications, especially in Latin America." Translated into figures, at the close of 2012, 55% of the company’s revenue was generated abroad.According to estimates, in 2013 abertis will generate more than 60% of its EBITDA outside of Spain (com- pared to 45% in 2009),where it has already accumulated 16-billion euros worth of assets.Since2009,thecompanyhasdoubled the number of subsidiaries,32 in 2013,and kilometres that it manages, which had climbed from 3,700 to more than 7,300 by the start of the 2013 year. In this period, abertis has also increased the value of the assets it manages by around 28%,to reach over 29 billion euros.With respect to the workforce, abertis closed 2012 with an average staff size of 17,500 people (com- pared to 10,800 in 2009),of which 64% are located abroad. Sweden France Evolution (from 2009 to 2013) JANUARY 2009 KILOMETRES EMPLOYEES EBITDA (COUNTRIES) REVENUE (COUNTRIES) JANUARY 2009 JANUARY 2013 JANUARY 2013 JANUARY 2013 JANUARY 2013 46% 36% 39% 35% 24% 17% 32% 30% 11% 5% 11% 9% 8% 7%44% 37% 16% 18% 2% 18% 1% 16% 6% 9% 41% 41% 52% 52% 20% 21% 38% 36% SPAIN FRANCE CHILE BRAZIL OTHERS SPAIN FRANCE CHILE BRAZIL OTHERS SPAIN FRANCE CHILE BRAZIL OTHERS SPAIN FRANCE UNITED KINGDOM CHILE BRAZIL OTHERS JANUARY 2009 JANUARY 2009 6% 6% 3% 3% 4% EBITDA (millions of euros) 2,550 2,500 2,450 2,400 2,350 2,300 2010 2011 2012 2012 (comparable) 2%2%
  • 11. 12 LINK abertis JULY 2013 ABERTIS AIMS TO USE SANEF ITS TECHNOLOGY, WHICH HAS BECOME THE LEADER IN TOLL TECHNOLOGIES, ON ITS TOLL-ROAD NETWORK Growingwithpartners The present economic situation of credit restrictions and a stagnated domestic mar- kethasboostedallianceswithdiversefinan- cial partners to bring financial strength to projectsandtobeabletogrowabroad.One of them is the Brookfield Motorways fund in the Brazil operation. However, abertis, with its expertise and know-how of the concessionbusiness,isconsolidatingaposi- tion as a leading industrial partner in all of the projects in which it operates. America,thenumber-onedestination TheAmerican continent, the Group’s prin- cipal market, will account for 23% of total EBITDAin2013.abertis’slatestmajorinter- nationalisation project inAmerica was the closureinDecember2012oftheacquisition from OHL of 60% ofarteris,Brazil’s largest toll-road company in terms of kilometres managed: nine toll-road concessions with a total of 3,227 km under operation,with a 21% share in the Brazilian toll-road conces- sion market. This is a solid toll-road portfolio which includesabalancedportfolioofconcessions andimprovestheaveragelifeofabertistoll roads.This operation, along with the pur- chase of a further three toll roads in Chile company – with a long-term vocation to remain in the Group. RestofAmerica On the American continent, abertis also operates in Puerto Rico via the Puerto Rico toll-road concessionaire (apr), which has been managing the Teodoro Moscosos Bridge for 20 years.Since 2011,abertis has beenaparticipantinthemetropistas con- sortium, which operates the concessions for the PR-22 (San Juan de Puerto Rico- Hatillo) and PR-5 (San Juan metropolitan area) toll roads. In Colombia, abertis has a stake in Coviandes, the owner of the concession contract for the 86 kilometre toll road that joins Santa Fe de Bogotá withVillavicencio. In Argentina, abertis manages two of the most important access roads into the city ofBuenosAiresthroughthewesternconces- sionaire(gco),whichhastheconcessionfor 56 kilometres of the Oeste Toll Road that joinsthecapitalregionwithLuján;andAusol, whichhastheconcessionfor119kilometres of the northern access into Buenos Aires. The three countries mentioned stand out for the positive level of traffic on their toll roads,whichgrewby4.5%.Inthe2012year, revenue from toll roads under direct man- Changes in senior management abertiscarriedoutaremodellingof themanagementstructureofits subsidiariesinLatinAmericawith thegoalofadaptingtheorganisation tothenewchallengesbrought aboutbytheGroup’sinternational growthandtoensuretheefficient integrationofthebusinesses. Tothatend,itagreedtopropose theappointmentofDavidDíaz, untilrecentlythemanagingdirector ofAutopistasAmerica,asthenew CEOofarteris,theBraziliantoll-road subsidiary.DavidDíazwillmanage thecompanyfromitsheadquarters inSãoPaulo. ThecurrentCEOofarteris,JoséCarlos F.deOliveira,willbecomethe non-executivePresidentofthe boardofthiscompany.The managementreorganisationalso entailsthecreationofatoll-road businessunitinChile,themanaging directorofwhichwillbeLuisMiguel dePablo,whowillalsoreportdirectly totheabertisCEO.Themanaging directorwillberesponsibleforallof abertis‘stoll-roadconcessionsin Chile,whichfollowingtherecent acquisitionsfromOHLnowcome tomorethan700kilometres.The newChileTollRoadsDepartment joinstheonesthatalreadyexist inSpainandFrance,headedby JosepLluísGiménezandFrançois Gauthey,respectively. Finally,abertishasalsocreatedanew RestoftheWorld(ROW)Concessions Department,whichwillbeheadedbe CarlosdelRío–currentlymanaging directorofabertisairports–and (343kilometres),hasmarkedaturningpoint forthecompany,makingittheworldleader in the toll-road sector both in terms of rev- enue and kilometres managed.The Group hasincreaseditskeyperformanceindicators by almost 25% and launched in Brazil, a growingmarketwithastableconcessionary framework,where it will be able to create a leading platform to capture future growth opportunities in the region. The transaction of OHL assets is a transformational operation that drives the Group’sgeographicaldiversification–oper- atingin14countries–andincorporatesnew partners,such as Brookfield,and entails the entrance of a new group among abertis shareholders, i.e., the OHL construction David Díaz Carlos del Río
  • 12. JULY 2013 LINK abertis 13 sanef its technology, which has become the leader in toll technologies, on its toll- road network Outside Europe,even though it is associated to toll technologies ,of note is the concession to develop and execute the largest dynamic (free-flow) toll system on the Port Mann Bridge in Vancouver (Canada).sanefits also collaborates in the development of the Golden Ears Bridge toll system in Vancouver and the Dublin ring road (Ireland). Expansionin telecommunications In the telecommunications sector,abertis has made a clear commitment to the tow- ering business. One of the operations that marked the 2012 year forabertistelecom was the acquisition of 1,000 telephone towersfromTelefónica,whichentailedmov- ing into the mobile infrastructure manage- ment market. The second focus of attention of the abertis telecommunications division is the satellite business, which in 2012 was boosted by increasing its shareholding in Hispasat (40.6%). 2013 is also proving to beayearofintenseworkinthedevelopment of the Digital Dividend.This will involve the liberalisationofthespectrumandanorgan- ised process to maintain open television services and consolidate their audience. All of these operations shore up the company’s growth commitment and open the way to new businesses where abertis can position itself as an operator of inter- national renown,such as the case of tower- ing or the satellite transmission sector. Afuturestrategy In short and long-term projects alike, abertis will continue to strengthen inter- nationalisation to maintain its position as a reference in terms of infrastructure,using geographical expansion to propel the Group’s growth and with its view focused on countries such as the United States, Canada,Brazil and Mexico.Stable countries enjoying economic growth,with solid legal frameworks and financial capacity that also make it possible to keep the company’s credit rating stable. whichincludesallofabertis’s shareholdingsintollroadsinother countries,alongwiththecurrent airportsbusinessunit.USTollRoads, ArgentinaTollRoads,PuertoRicoToll Roadsandthecompany'sshareholdings intheCoviandes(Colombia)andRMG (UnitedKingdom)concessionairesall formpartofthenewRestoftheWorld (ROW)ConcessionsDepartment IN SHORT AND LONG-TERM PROJECTS ALIKE, ABERTIS WILL CONTINUE TO STRENGTHEN INTERNATIONALISATION TO MAINTAIN ITS POSITION AS A REFERENCE IN TERMS OF INFRASTRUCTURE agement in America came to 404 million euros, and EBITDA came in at 240 million euros.In both cases,this represents 10% of the abertis group total. WithoutlosingsightofEurope On the Old Continent,abertis is taking off inFrance,wherethecompanycontrols52% of the capital of the sanef group, which manages a total of 1,761 kilometres of the French road network and has a privileged position in the economic heart of Europe, connecting to five major European capitals (London,Brussels,Luxemburg,Frankfurtand Strasbourg).The French subsidiary’s gross operating margin represents one-third of theGroup’stotal.abertisaimstousesanef, In 2012, abertis shored up its presence in the satellite business by increasing its stake in Hispasat (40.6%). Luis Miguel de Pablo
  • 14. Luis Miguel de Pablo has taken over as managing director of abertis autopistasChile.Inthisinterview,hespeaks about the challenges he is facing in his new position and reflects on the infrastructure model in Chile. How are things going after these first monthsatthehelmofabertisautopistas Chile? In this first stage, and following abertis’s purchaseoftheOHLassetsinChile,ourgoal wastointegratethebusinessessotheywould have a single structure.The integration had to be done maintaining the totality of the operational functions, given that that the companies had to continue to operate, and at the same time appeasing the fears of the workers who thought their jobs could be on the line.To achieve this it was necessary to get to know abertis and its culture, convey ittotheincomingstaffandreaffirmittothose who remained.The idea was to recover eve- rybody’s trust.In short,it was a process that requiredthecooperationofthewholeofthe company as one large team. Theyhavebeenmonthsofvisitsbyper- sonnel from Barcelona, who guided us and gave us the support we needed to achieve the integration and convey the company’s concern about its people. Todayweareveryadvancedintheinte- grationprocessandwe’reworkingasasingle company, which has allowed us to have a team that is better than the individual sum ofthetwocompanies.Therearestillprocesses toconclude,butinmyopinionwehavedeliv- ered on the objectives set and within the timeframes. Whatareyourobjectivesforthebusiness intheshortterm?Andwhatarethelong- termchallenges? Theinternalshort-termgoalsaretoachieve acompleteandfullintegration,implement- ing common systems and procedures that enable efficient work. We have started the analyses to imple- mentanoperationalmodelsimilartotheone appliedonSpanishtollroads,adaptedtothe particular conditions of our contracts with theMinistryofPublicWorksandthedifferent stakeholders,based on networks instead of individualconcessions,whichwillallowusto carryouttheoperationmoreefficiently.Tech- «abertis has experience in integration and value creation in the company» Managing director of abertis autopistas Chile LuisMigueldePablo TEXT abertis|PHOTOS JosepLoaso Following the acquisition of three toll roads from OHL in Chile, the recently appointed managing director of abertis autopistas Chile, Luis Miguel de Pablo, says that the integration of the assets is at a very advanced stage and the businesses are now working as a single company Profile CivilEngineerfromtheUniversityofChile; MBAandDPAinBusinessAdministration fromtheAdolfoIbáñezUniversity,he studiedAdministrationandManagement atUCLAanddidapostgraduatein GeotechnicsandFoundationsatthe PolytechnicUniversityofMadrid. Heworkedfor20yearsatENDESA,inthe WorksDepartmentandatIngendesa, takingpartinthedesign,management andcontrolofcivilworks. HehasbeenworkinginthePublicWorks Concessionsindustryforthepast15years. HewastheTechnicalDirectorfortheLos Libertadorestollroadbetween1997and 2000andprovidedconsultancyservicesto theItata,SolandRutasdelPacíficotollroads. HewasanadvisortotheInter-American DevelopmentBankfortheSandillal HydroelectricPlantinCostaRicaCAand participatedasageotechnicalspecialistinthe DonPedroHydroelectricPlantinCostaRicaCA. Between2000and2003hewasthe directoroftheAconcaguatollroadand between2004and2007wasthecontracts’ manageratConstructoraVespucioNorte. HewasthegeneraldirectorofOHLConcesiones Chileanditssubsidiariesfrom2008to2012. Hehasbeenthemanagingdirectorof abertisautopistasChileandallofits subsidiariessinceMarch2013. WE WANT TO IMPLEMENT AN OPERATIONAL MODEL SIMILAR TO THE ONE APPLIED ON TOLL ROADS IN SPAIN, ADAPTED TO OUR COUNTRY’S PARTICULAR CONDITIONS” JULY 2013 LINK abertis 15
  • 15. nologyiskeytodeliveringonthesegoalsand sointheshorttermwemustputagreatdeal ofeffortintoendowingourconcessionswith technologicalsystemssuchastheTelevíatag toll payment, build fibre optics that let us unify control centres, variable information panels, etc. From the viewpoint of looking after the drivers who use the roads under concession, internally we must change our mentality to provide customer care rather than seeing them as users. Ourmediumandlong-termobjectiveis tocreatevalueforthecompany.Onewayof doing it is by improving the concession con- ditionswhereweoperateatpresent.Forthat it is necessary to reach an agreement with the Ministry of PublicWorks concerning the constructionofworkssuchastheexpansion ofthecurrentroadsandmotorways,thecon- structionoftunnelsandtheincorporationof worksthatincreasedriversafetyandcomfort. Thiswouldpermitustoextendtheconcession periods that are close to their end date or receivedirectpaymentsfromtheMinistryof Public Works. There are also measures or agreements with companies we can take in order to implement improvements without 16 LINK abertis JULY 2013 governmentplansthisyeartotenderprojects worth nearly USD 1.5 million,concentrated on a few but very large projects,a challenge that is difficult to achieve. Chileneedsinvestmentsininfrastructure tocontinuewithitsdevelopment.Thenumber of automobiles is rising by nearly 200,000 vehiclesperyear,whichsuggeststherecould be complete chaos in the cities in the not- too-distantfuture.StudiesbytheMinistryof Transport suggest that in Santiago alone, USD25 billion must be invested in the next 12 years,of which 36% corresponds to road projects under concession.The rest of the investment will be allocated to public trans- port,butconcessionwillhaveapredominant role,too. Do you think there is any resistance in Chile to the road concession model? The concession model is already imple- mentedinChileanditwouldbehardtoturn the clock back.The advance in public infra- structurecameabout20yearsaheadoftime and was one of the pillars of development the country has achieved.At the same time, resourceswerefreedupfromtheStatewhich has made it possible to execute works on roadsandsecondaryworks,whichotherwise wouldn’thavebeenabletobedonebecause the resources were used solely to execute and maintain the works on the main roads. TorepeatwhatIsaidbefore,inChilethere is an awareness of the value of public infra- structures,thattheyshouldbepaidforbythe people who use them and not with the resources of the Chileans as a whole,so that these resources can be allocated to other things the country needs. WhatrolecouldabertisautopistasChile playinfuturepublic-privatecollaboration projects? There is no question that abertis does play andmustcontinuetoplayaveryimportant roleinthisregard.Chileisacountrywherea large part of the concessions are for mature OUR MEDIUM AND LONG-TERM OBJECTIVE IS TO CREATE VALUE FOR THE COMPANY. ONE WAY OF DOING IT IS BY IMPROVING THE CONCESSION CONDITIONS WHERE WE OPERATE AT PRESENT” havingtoreachanagreementwiththeaward- ingauthority.Inthiscase,technologyisahuge help in delivering on this goal. Pluswehavetokeepacloseeyeonwhat is happening in the industry, as possibilities topurchasenewcompaniesthatwouldper- mitustoincreaseourconcessionsarealways comingup.abertishaslongstandingexperi- enceinintegrationprocesses,asithasshown in Chile and Brazil,and has the mechanisms to create value by improving processes. Howdoyouanalysetheconcessionsec- tor in Chile? Do you think it is a mature andconsolidatedbusiness? The concession industry in Chile is mature. The main routes in the country have been awarded under concession and the process ofawardingothertypesofpublicinfrastruc- tures, hospitals and public buildings (court- houses) has begun.The second concessions of the same routes and airports whose con- cession periods have expired are also going ahead. In Chile there is an awareness of the ideaofpay-to-useinfrastructureofanytype. Even on city toll roads with exclusive free flow use, payment avoidance falls within estimated ranges. Howdoyouanalysethefutureofconces- sionsinChile?Doyouthinkthereissig- nificantgrowthpotentialforthisbusiness overthenextfewyearsinthecountry? Although no major concessions have been awarded in the past eight years,the current THE IMPLEMENTATION OF THE E-TOLL IS A NECESSITY TO ENABLE US TO CONTINUE WITH FLOW GROWTH”
  • 16. JULY 2013 LINK abertis 17 Links projects, with no construction risks beyond the improvements that can and should be made in the projects,which is very much in keeping with abertis’s policy. That’swhyIthinkChileisanidealcoun- try for abertis to continue to invest in,as it alsohasstableeconomicandpoliticalcondi- tions. Whatisyourtakeontheintegrationproc- essoftheOHLassetsintheabertisgroup? The incorporation of the OHL assets has allowed abertis to be the world leader in concessionsandinChileitisthebiggestcon- cessionaire in terms of volume of traffic, giving it a hegemony and a favourable posi- tion for rolling out its management and negotiationmodelwiththedifferentaward- ing authorities. Cantheapplicationofdynamictolltech- nologies(remotetolls,GPS,etc.)contrib- utetomoreeffectivetrafficmanagement? To what point are these technologies a priorityinChile? Technology is fundamental to the model of integrated management of the different concessions.It will allow us to be more effi- cient,having,just by way of example,single control centres for various concessions or one for each network or area. Furthermore, an e-toll is no longer an option today but a need,notjusttoimprovetheservicefortoll- roadusersbutasatooltogrow.Wehavetoll boothsthatareoverstretched,whereitisn’t possible to comply with the required and reasonableminimumstandards,andwedon’t havespacetoexpandthebooths,whichleads togrowthstagnation.Inotherwords,wehave roadcapacitybutthetollsarethebottlenecks. We have implemented contactless card- payment systems, but even still we don’t haveenoughcapacitywithregardscustomer service. In these cases the implementation of thee-tollisanecessitytobeabletocontinue withflowgrowth.InChileflowsareincreas- ing at a rate of approximately 8% per year. Chileisacountrythatisstillgrowingat levelswayabovetheOECDcountryaver- age.Sowhatinyouropinionarethekey driversforeconomicsuccess?Howdoes itaffectbusinessrevenue? Chile’sabove-OECDcountryaveragegrowth isnotdowntoluck.Chilehasprovenitself to be a serious country with long- term stable economic policies, whichboostsinvestorconfi- denceinbringingcapitalto our country. But there are other aspects to consideraswellasthecountry’sconditions. Thegoodpricethatrawmateriallikecopper had for years fostered major investments in theminingarea.Chileisaheavyweightmin- ingcountry.Fordecadeswehavebeendevel- oping other economic activities such as winemakingandthesalmonandfruitindus- tries, among others, but the price of copper brought us back to earth with a bump, and evenhadadamagingknock-oneffecttoother industries due to the fall in the price of the dollarandtheriseinlabourcasts.TodayChile haspracticallyfullemploymentandthereis a large foreign workforce in the country,not just from neighbouring countries like Peru, ArgentinaandBolivia,butEuropeancountries that are suffering the crisis. ThissustainedgrowththatChilehashad is making our industry also grow in a sus- tained year-on-year fashion, at around 8% per year. PUBLIC INFRASTRUCTURES SHOULD BE PAID FOR BY THE PEOPLE WHO USE THEM AND NOT WITH THE RESOURCES OF THE CHILEANS AS A WHOLE, SO THAT THESE RESOURCES CAN BE ALLOCATED TO OTHER NEEDS IN THE COUNTRY” LuisMiguelde Pablosaysthat Chileneeds investmentsin infrastructureto continuewithits development.
  • 17. The organisation chart of the Corpo- rateLegalDepartmenthasbeenpro- gressivelyadaptedtothechangestheGroup has undergone in recent years. One part of theteamwassplitofftoformtheAutopistas SpainLegalDepartment;anothertoaccom- panySabaonitsnewprojectsoutsideofthe abertis group,two years ago. Despite that, the Corporate Legal Department has always upheld its ability to provide advice and support to abertis in its international expansion and has done so TEAM whilstbarelyincreasingitsnumberoflawyers. GeneralCounselMartaCasassays,“TheLegal Department advises the business units and the Corporation itself on those aspects that most directly affect abertis’s value”.The workisdonefromthreeperspectives:viasup- port to business operations,collaborating in projectdesigns;thesafeguardingofcorporate social responsibility based on long-held ethicalprincipleswithinthegroupanddirect participation in the group’s growth in differ- ent jurisdictions.“There is no question that abertis ‘s Legal Department advises the Group’s business units and the Corporation itself on compliance with the code of ethics and a safe legal framework Legal territory Corporate Legal Department 1 TEXT AND PHOTOS abertis 18 LINK abertis JULY 2013 THE LEGAL DEPARTMENT ADVISES ON “THOSE ASPECTS THAT MOST DIRECTLY AFFECT ABERTIS’S VALUE,” EXPLAINS MARTA CASAS theglobalvisionprovidestheopportunityto sharetheknowledgegeneratedafteryearsof growth,assetvaluationandthesuitabletreat- mentofthenetworkofrelationswithaward- ing authorities, a fundamental part of our business dealings,”Marta Casas says. Theteam The Legal Department is headed by Marta Casas.Accompanyingherinthemanagement andorganisationofthedepartmentisproject managerDanielVentín.Thedepartmentalso has eight lawyers with longstanding experi- ence,threetechnical/adminstaffandaman- agement secretary. Each of the lawyers is a specialist in a particular area of law of interest to abertis(corporatelaw,financiallaw,invest- ment projects, commercial agreements, public law, etc.).The technical/admin staff coordinate general contract processes and theprotectionofbrands,patentsanddomain names of the abertis group. Across-the-boardaction ThemanagersoftheLegalDepartmentpro- vide advice to all abertis’s managing direc-
  • 18. — 1 — Marta Casas, general counsel of the abertis Corporate Legal Department. — 2 — The full Legal Department team Back row: Lucía Viz, Inma Ardiaca, Bárbara Jean Mairet, Annabel Casahuga, Raquel Pelegrín, Carme Torcal, Andrés Barberis, Maya Falguera and Julián Fernández. Front row: Virginia Navarro, Marta Casas, Daniel Ventín, Beatriu Daura and Gemma Magre. 2 JULY 2013 LINK abertis 19 tors, to Corporate Development on invest- ment projects, Finance Management on financingcontractsandtheissueoffinancial instruments,to the abertisfoundation on its sponsorship programmes,and more.The interaction with them all is ongoing and is performedacrosstheboard.TheDepartment isalsoinpermanentcontactwiththebusiness units,offeringthemongoingadviceonmat- ters where it can bring its global vision to shore up advice from their respective legal advisors (e.g.,matters of importance to the abertisgroupasawhole:concessioncontract renegotiations,major lawsuits,etc.). Adaptationtojurisdiction The ongoing adaptation to the changing needsofagroupthatiscontinuouslyinvest- THE ONGOING ADAPTATION TO THE GROUP’S REQUIREMENTS RATHER THAN INVESTING IN NEW COUNTRIES IS THE MAIN CHALLENGE ing in new countries is the main challenge facing the Legal Department managers. AccordingtoprojectmanagerDanielVentín, “Each country has its own legal system and culturewhichcansometimesbeverydiffer- enttooursorotheronesweknow”.Thechal- lenge of adapting to different cultures is particularly pronounced in the case of the lawyers.KnowledgeoftheSpanishlegalsys- tem is not enough to handle giving advice outside of its borders.“Lawyers must work veryhardtodeveloptheabilitytounderstand other systems so they feel comfortable in anyjurisdiction,knowwhattheyhavetoask and always be aware of the danger of draw- ing erroneous interpretations based on an unknown legal system,” Marta Casas says, adding that“Only common sense and pru- dence and, of course, the right advice, can guaranteelegalsafetyinanyenvironment”. To this end, the Legal Department has a team which is“responsible and dynamic and are team players aware of forming part of a multidisciplinary project with a service vocation,”the managers say. Goodgovernanceand acodeofethics Theprinciplesofgoodcorporategovernance include supervising compliance with the
  • 19. code of ethics.That’s why a code of ethics is increasingly important for every socially responsiblecompanywhichaimstocomply with a unified code of good governance. In this area, abertis, with its Legal Depart- ment at the fore, is striving to articulate a prevention and control system regarding CODES OF ETHICS ARE INCREASINGLY IMPORTANT FOR ALL SOCIALLY RESPONSIBLE BUSINESSES Daniel Ventín, Project Manager, Corporate Legal Department. 20 LINK abertis JULY 2013 any possible breach of the code of ethics and its regulations, whether by managers or employees. So as well as informing the staff and raising awareness, it has fostered a number of training actions in different countries as part of the articulation of a prevention and control system regarding breaches of its code of ethics. One of these initiatives is the design of an internal (compliance) on-line training module to make managers and employees aware of the risks that can arise from any breach of the code of ethics and its regulations.This training module will firstly be launched in Spain and later rolled out, with the necessary adaptations, in all of the countries where abertis operates. Ethicalchannel The existence of an internal ethics channel is a demonstration of abertis’s concern to prevent any act that runs counter to the code of ethics and its respective regula- tions. Any consultations, questions or denouncements made in Spain will be handledbytheabertisCodeofEthicsCom- mittee. Those from Group companies in other countries will be handled by the respective local committees.abertis is striving to opti- misethecoordinationofthelocalcommittees with the Code of Ethics Committee.
  • 20. JULY 2013 LINK abertis 21 TheroleoftheLegalDepartmentintheacquisitionofarteris Allmergerandacquisitions operationsneedthewholeoftheteam togetbehindthemfromthestart.This wasthecaseoftherecentacquisition ofarteris(theformerOHLBrasil).It beganwithaletterofintentwithOHL andrequiredintensiveworkchecking theassetsandconcessioncontracts thatwouldbeacquired.AsProject ManagerDanielVentínexplains:“We activelycollaboratedinthecontract negotiationwithOHL,onthedesign andstructuringoftheoperation. Werecentlyalsocoordinatedthe compulsorytakeoverofarteris”, shares.Atthesametime,we negotiatedwithBrookfieldonitsstake inthearterisshareholdingstructure.
  • 21. 22 LINK abertis JULY 2013 REPORT abertis CEO Francisco Reynés focused the company’s growth on the American continent, at an event organised by the newspaper ‘Expansión’ to celebrate its 15th anniversary in Catalonia United States and Mexico: priority markets abertis and internationalisation TEXT AND PHOTOS abertis Internationalisation as a corporate growthstrategy.Thiswastheleitmo- tivofthemessagewhichabertisCEOFran- cisco Reynés wished to convey at the event Open Door to New Opportunities, held at the Liceu theatre in Barcelona in May and organised by the newspaper Expansión to celebrate its 15th anniversary in Catalonia. The head of abertis focused on the US and “THEY ARE MORE VETERAN MARKETS” WITH POWERFUL ECONOMIES AND A LOT OF TERRAIN TO EXPLORE, FRANCISCO REYNÉS SAID Mexico as priority countries to continue to grow on the toll-road market, and also stressed the potential of the BRIC countries (Brazil,Russia,India and China).“There will be increasingly more toll roads in the BRIC countries, which is a great opportunity for usasweonlyoperatein15ofthe170coun- tries around the world”, Francisco Reynés said,adding that,“abertis is now focussing
  • 22. JULY 2013 LINK abertis 23 abertisCEO FranciscoReynés, attheevent organisedbythe financialnewspaper Expansión. on growing in other countries with proven legal stability such as the US and Mexico. We can’t aim to be a world leader without operating in the United States”.The CEO was also keen to emphasis the company’s desire to grow in Peru and Colombia,which have vast potential.“The Group is focusing on theAtlantic,although we do not rule out investments in emerging countries”. Fran- ciscoReynésjustifiedthispreferenceforthe Americancontinentbecause“theyaremore veteran markets”with powerful economies and a lot of terrain to explore. He also stressed the importance of legal stability for the business, as “we regularly review rates and investments”. Otherexperiencesof internationalisation The abertis CEO took part in a round table discussion with the president of Gas Natu- ral Fenosa, Salvador Gabarró, who claimed that“the future lies in the BRIC countries” andthatinternationalisationisamust,even if it is not an easy process. Anotherofthecompaniesinvitedtothe event wasTelefónica Catalunya. Managing director Kim Faura said that the company madetheleapintointernationalisationinthe 1990s,enteringLatinAmericanmarketssuch asArgentina,Chile,Brasil and Peru,where he said there had been six million lines waiting to be implemented and Telefónica had installed half of them in just one year. The companies agreed that it is impor- tant to change the model as a result of the crisis.“We must accept we are in a new era, we can’t think that things will go back to how they were before,” said John Scott, presidentofKPMG,whoadvocated“looking past the current situation” when it comes to planning investments.All of the execu- tives also agreed it was a good idea to get behind the new emerging markets and“not be afraid” of expanding beyond Spanish borders,as well as the need to drive innova- tion in their products. The internationalisation message could also be heard at the summit on investment in Latin America organised by Reuters last May. The abertis CEO, who took part in the event, explained that the Group has identified various opportunities on the American continent that currently being studied. The financial and economic crisis in Europe is the reason behind abertis ’s geographical diversification into Latin America, the CEO said, where the company consolidated its presence in 2012 by buying toll road assets in Brazil and Chile from OHL. Francisco Reynés called the relationship with OHL “fantastic” and said it was “bringing stability to the shareholding structure”. The CEO said that another of the company’s priorities was to “continue to cut the cost of the debt”, which last year rose as a result of the incorporation of Brazilian firm arteris. Participation in the Latam Reuters Summit
  • 24. Carlos Bastarreche defines the role of the embassies as a factor that var- ies in line with the characteristics of each country.WithrespecttoSpanishbusinesses, where private initiative reins, he believes that the challenge facing the Embassy is to provide Spanish businesspeople with all of the information and economic, social and cultural resources that Spain has in France. Coordinating them is, according to the ambassador,one of the principles it abides by in order to put them at the service of Spanish companies. How are relations between Spain and France today, following the latest changes at the domestic political level inFranceandexternallyinEurope? ThereisaviewsharedbySpanishandFrench leaders that relations between our two countries are definitely enjoying the best period in their long common history. «Internationalisation involves adapting better to demand» Spanish Ambassador to France CarlosBastarreche TEXT abertis|PHOTOS SpanishEmbassytoFrance The Spanish ambassador to France considers that the network of common interests between Spain and France is continuously progressing both qualitatively and quantitatively, regardless of political stripes or the electoral situation at any particular time Profile Withadegreeinlaw,hejoinedthe diplomaticservicein1976 Hewaspreviouslypartofthe ConsularandTradeRepresentationin Romania,servedassecretaryinthe MissionofSpainbeforetheEuropean Communities andwasanadvisorymemberofthe SecretariatofStateforRelationswith EuropeanCommunities. In1985hewasappointedgeneral assistantmanagerofCommunity CoordinationforInstitutional Relationsandlatermanagingdirector ofLegalandCommunityInstitutional Coordinationandapermanent assistantrepresentativeforSpain beforetheEuropeanCommunities. In1996hebecamethesecretary- generalforForeignandEuropean UnionPolicyandquicklywentonto becomethesecretary-generalfor EuropeanAffairs. Between2002and2010hewas Spain’sPermanentRepresentative beforetheEuropeanUnion. HehasbeentheSpanishambassador toFrancesinceSeptember2010. INFRASTRUCTURES ARE A FUNDAMENTAL INSTRUMENT OF ANY STATE’S ECONOMIC POLICY TO DRIVE GROWTH” JULY 2013 LINK abertis 25
  • 25. Since we joined the then European Economic Community in 1986, and after some tough negotiations, among other reasons due to conflicts of interest with France, things have got better and better. The areas we used to call “irritants” (agriculture,fishing,terrorism,etc.)notonly have been surmounted during these years but have become exemplary areas of coop- eration for mutual benefit. For example, in French tourists visiting Spain. In 2012, the French spent 5.19 billion euros in Spain and French spending here was up by 33% in the first quarter of 2013. Finally, from the point of view of rela- tions between our societies, we are also beatingrecordsinrelationtoothercountries in fields including Spanish teachers and students, cultural and sports events, the tracking of news about Spain in the French media and so on. Thissetofindicatorsiscompletedwith the close way in which our international policies also coincide.This is both in terms of our respective positions on European integration and in specific regional spheres such as the Mediterranean, and even at a global level, for example in multilateral forums such as the UN or the G20. Thisrichnetworkofcommonpositions and shared interests can be said to now be in our respective DNAs, so it is continuing to progress qualitatively and quantitatively regardlessofpoliticalstripesortheelectoral situation or the electoral situation in Spain or France at any particular time.One figure that has a symbolic but also operational value is the resumption of annual summits that began last year. How is the Spanish economic situation seenfromFranceandhowdoyouthink it could impact internationalised com- panieslikeabertis? The economic situation in Spain is very well known in France,among other reasons because the leading French companies on the CAC40 (the equivalent of Spain’s IBEX) are installed in Spain. In this respect, one verysignificantfigureisthatamajorFrench company, Renault/Nissan, has decided to increase its investments in Spain in a sec- tor with as much medium- and long-term strategic importance as the automotive industry. So there is obviously a logical concern about the present situation,but with a con- fidence in our ability for recovery based on the different measures that are being adopted.And of course we trust that the European context, which is a fundamental FOR US, THE INTERNATIONALISATION OF SPANISH BUSINESSES ENTAILS AN INCREASINGLY GREATER REQUIREMENT TO ADAPT TO THE DEMANDS THEY MAKE OF US” the fight against organised crime,Spanish- French cooperation is possibly one of the best in the world. In the economic field, the figures also speak for themselves: exchanges have risen exponentially to reach a figure of 63 billion euros; France is our leading export market, with nearly 17% of the total. In 2012 we were the seventh-largest investor in France; some 500 Spanish groups have an accumu- lated total investment of more than 15 bil- lion euros and provide jobs to over 48,000 people;for their part,French companies are the second-largest investors in Spain, with a total investment estimated at some 67 billioneuros,andFrenchcompaniesemploy over 300,000 Spaniards.Tourism flows con- tinuetogrow,andSpainistheleadinginter- nationaldestinationfortheFrench.In2012, 8.9 million French tourists visited Spain, a growth of 7.1%, and this trend continued in the first quarter of 2013,when there was an 11% year-on-year rise in the number of RELATIONS BETWEEN SPAIN AND FRANCE ARE GETTING STRONGER, EVEN IN THESE TOUGH TIMES” TheSpanish ambassadorto Francebelievesour neighboursour “wellaware”ofthe economicsituation inSpain.
  • 26. JULY 2013 LINK abertis 27 ingredient for delivering on this goal, finds the formulae to suitably combine the rees- tablishment of the necessary balances (budgetary, competitiveness, etc.) with an economic and monetary framework that favours growth. With the stabilisation of our risk pre- mium,thefundingproblemsourcompanies face abroad are, I believe, going to find a solution. Also, the improvements in our competitiveness indices are having a posi- tive impact for our large international com- panies, which use services in Spain. In your opinion, what could a company like abertis do to improve the image of thecompanyandofSpain?Whatisyour assessment of abertis ‘s projects (uni- versity chairs, foundation) in France? What do you think about abertis being thebiggestSpanishinvestorinFrance? abertis is the leading Spanish investor in France and that not only strikes me as good news but also something logical. Given its specialisation in infrastructures and its worldwide success,it is completely natural and positive that abertis should have becomeamajorplayerinthisfield,andthat includes in France. My opinion is possibly not objective, but I believe that abertis is doing very well in France and so it is already giving a good image of the seriousness and competitive- ness of our large companies which, in my opinion and out of mutual interest, should have a greater presence in France. The initiative of having created a foun- dation that develops different projects of social interest, such as in the field of road safety, for example, is a demonstration of anintelligentpolicy.Anothergoodinitiative was abertis becoming one of the main sponsorsoftherecentDalíexhibitionatthe Pompidou Centre, which has broken all recordsamongtheFrenchpublicandvisitors to Paris. How has the role of the embassies changed in the wake of the increasing internationalisation of Spanish busi- nesses? Our embassies are the Spanish administra- tion’s projection abroad and therefore a servicepublic,astheFrenchsay,comprising civil servants, as the English call them. In this regard,in the same way that all Spanish citizens have to know that their embassies aretheretohelpthemiftheyneedit,sotoo do all large and small enterprises have this instrument available to them. Forus,theinternationalisationofSpan- ish businesses,which has been going on for close to two decades in terms of large com- panies and growing exponentially amongst SMEs in the past two years, entails an increasingly greater requirement to adapt to the demands they make of us. Of course each country has its own characteristicsandsotheroleoftheembas- sies varies.With respect to businesses and in a large neighbouring country where pri- vate initiate reins,I think our challenge is to provide our businesspeople with all of the resources the Spanish Sate has here. Coor- dinatingalloftheseresources–information and economic,commercial,labour,tourist- related,cultural and consular resources - is oneoftheguidingprinciplesof“BrandSpain” that we are applying, to put them at the service of our companies.When necessary, contact with national and local authorities of course also forms part of our remit. SOME 500 SPANISH GROUPS HAVE A TOTAL INVESTMENT OF OVER 15 BILLION EUROS IN FRANCE AND PROVIDE JOBS TO MORE THAN 48,000 PEOPLE” How would you sum up these years as theSpanishambassadortoFrance? Even though my career, which for many years has been related to European integra- tion,has meant I have always been in close contact with French leaders, working here gives you a different point of view, often morecloselylinkedtospecificreal-lifeprob- lems. Important changes have taken place in our countries over these two years.We are both working in the context of a Euro- pean crisis that has had no precedent in recentyears.However,ourrelationsareget- ting stronger, even in these tough times. Whatroledoyouthinkinfrastructures canplayinEurope’seconomicrecovery? Infrastructures have been, and I imagine will continue to be, a fundamental instru- ment of a State’s economic policy to fos- ter growth, and right now it is clear that growth is what is needed. Obviously, cir- cumstances change (the type of infrastruc- tures,modes of funding,etc.) and govern- ment policies must adjust to the existing context. I think that abertis, because of diversification – not only internationally but in types of infrastructures and variety of management styles – is especially well placed to be able to continue to have an increasing role in projects that are going to be launched. CarlosBastarreche saidthatabertis“is especiallywell-placed tocontinuetohavean increasingrolein infrastructurematers”.
  • 27. TRAVEL SaoPauloistheworldmadeintoacity, oneofthemostpopulatedurbanareas ontheplanet.ItisalsoBrazil’sfinancialheart, where the money that comes from the country’s industrial development, moderni- sation and technology flows. 19millionpeopleliveinthemetropolitan areaofGreaterSaoPaulo.12millionliveinthis citycrossedbytheTropicofCapricornandfoun- ded in 1554 by the Jesuit priest fromTenerife, JosédeAnchieta.Anchietasetupamissionhere and predicted that this handful of poor cabins wouldonedaygrowintoamajormetropolis. TheNewYorkofthesouth SaoPauloistheeconomicandculturalcapital ofmodern-dayBrazil,acityoffreneticactivity thatattractsthebestgastronomicoffers,inno- vative architecture and cutting-edge design. SaoPauloistheNewYorkofthesouth,acity of contrasts where in just a few minutes you can travel from areas of exclusive luxury to favela shanty towns. TheinterminablePaulistaAvenueisthe city’smainthoroughfareandhostsacatalo- gue of impressive skyscrapers, private heli- copter pads, swank apartments, cars and stores,banks,hotels,restaurantsandexclusive bars.ThislocalequivalenttoFifthAvenuealso featuresamajorculturalcentre,theMuseum The great Brazilian megalopolis Sao Paulo It is an endless cityscape, a vast megalopolis, a huge island of skyscrapers, parks, avant-garde buildings and upscale restaurants close to some of the best beaches in the world. Sao Paul is a cosmopolitan metropolis that exudes greatness and warrants a visit: the NewYork of the south TEXT ToniCapilla|PHOTOSAgency 28 LINK abertis JULY 2013 clearlyinspiredbytheRenaissancecathedral in Florence,dominates the landscape in the historic heart of the city. TherealSaoPaulo Squaresandbarsaboundhere,rubbingshoul- derswithdozensofabandonedbuildingsfrom a formerly exclusive area, graffiti works and alleyways.AstrollalongruaSaoBentoisyour chancetodiscoveradifferentsidetoSaoPaulo. One must-see in the historic heart of thecityistheMunicipalMarket,alargebuil- dingdecoratedwithstained-glasswindows. Themarketisperfectforanyonekeentomix withthelocalsandpurchasealltypesoffruit, cheese,vegetables,fishorspices,andsample the traditional mortadella sánguches ,tasty sandwichesaccompaniedbycheese,lettuce and tomato. Veryclosebyisrua25deMarço,oneof themostpopularcommercialstreets.Nearly halfamillionpeoplethrongthestreetevery day–afigurethatdoublesatChristmasand duringCarnavale- insearchofanenormous varietyofclothes,homedécoritemsorcos- tume jewellery. Financialcentre Notfarawayisthecity’soldfinancialdistrict, distinguishedbytheEdifícioItália–formany ofArt of Sao Paulo,which houses one of the most important collections of classic and contemporary art in LatinAmerica. Themuseumisalargeconcreteandglass structure surrounded by two red arches. If theoutsideisspectacular,theinsideisevery bit as good. Bosch, El Greco, Monet, Renoir, VanGogh,Dalí,Chagall…therollcallofartists with works in its rooms is enormous.The museumalsodrawsmoreavant-gardeartists, such as the numerous graffiti artists that work in its streets. Theoldhistoriccentre PaulistaAvenue–whoseoriginsdatebackto the “coffee baron” mansions, when coffee was the driving force of Brazil’s economy – divides the city in two.To the north,around rua Augustsa, is the more alternative Sao Paulo,home to residential neighbourhoods, high-end stores, bars and concert venues. Also to the north is the old historic centre, based around the Sé (cathedral). This is one of the five largest Gothic churches in the world,although it would be morecorrecttosayneo-Gothic,havingbeen built at the start of the 20th century on the remains of an old 18th-century church that was razed in 1911 to remodel Praça de la Sé square. The large dome atop the church,
  • 28. JULY 2013 LINK abertis 29 35 — 1 — Financial centre. — 2 — Paulista Avenue. — 3 — Ibirapuera Park. — 4 — Latin American Parliament. 1 Close to Sao Paulo you can visit the marvellous Paulista coast, where you will find charming places like: Guarujá. This is the traditional summer destination for paulistas. As well as heavenly beaches including Ensenada, Pernambuco and Guaiúba, there is a large ecological reserve, Rabo do Dragão (Dragon’s Tail). A visit to Forte dos Andradas fort, which dates back to WWII, is also worth a visit. Iguape.The historical centre boasts an impressive array of churches and colonial homes from the 16thand 19thcenturies. A must-see is the Senhor Bom Jesus church and nearby park. Ilhabela.This island of unusual beauty boasts landscapes with numerous cataracts and paths through lush vegetation. Santos. As well as its beaches, it is home to the largest beachfront garden in the world. Of note are the Municipal Aquarium, the Coffee Museum and the Municipal Orchid Garden, among other points of interest. Praia Grande. One of the country’s most popular beaches. In high season it draws around 1.4 million tourists, almost five times its population. Sao Vicente. The first town the Portuguese founded in America, in 1532, today it is a residential area famous for its beach and monuments. 2 4 3 A trip along the Sao Paulo coast
  • 29. years the tallest building in LatinAmerica – and the Edifício Copan,a masterwork of the architect Oscar Niemeyer, built in 1966 to celebrate the fourth centenary of the foun- ding of Sao Paulo. The Edifício Copan lies on the centrally locatedIpirangaAvenueandisasortofrein- forced concrete vertical city in the shape of a wavy beehive standing 140 metres high, with 37 floors and its own postcode.The building is home to an Evangelist church, a shopping mall with 72 stores, 1,160 apartments and some 5,000 inhabitants. Niemeyermadethebuildingcurvyincontrast to the straight lines of Le Corbusier and the modernist movement. Multiculturalism Sao Paulo is a multicultural city which wel- comed over a million immigrants at the turn of the 20th century.Jews settled in Hi gienópolis and Bom Retiro; Syrians and Lebanesearoundrua25deMarço;Germans moved into SantoAmaro,and Lithuanians flocked toVila Zelina.Italians made Bixiga andMoocaintooutpostsoftheirhomeland and the Japanese colonised the neighbour- hood of Liberdade. Located at one end of PaulistaAvenue, Liberdade is home to the How to arrive Sao Paulo has an international airport (Garulhos) 30 kilometres to the south of the city and which connects it with the major international hubs. Getting around the city The chaotic traffic and enormous area the city covers make it advisable to move around on the Underground or the excellent city bus network, one of the best in the world. Where to sleep Hotel Fasano (Rua Vittorio Fasano, 88 Tel. +55 113 896 40 00 This swish, welcoming hotel is located in the heart of the elegant neighbourhood of Jardins, very close to Paulista Avenue. You must drop into the Baretto piano bar. Jazz and outstanding cocktails. From 534 euros. Boss House Bed&Breakfast (Rua Itaquera, 01246030 Tel. +55 113 297 28 16 www.bosshousebb. com). For more modest budgets, one of the best options is this small family-style hotel. An oasis of peace in the heart of the city. From 85 euros. Where to eat FrangÓ (Largo da Matriz Nossa Senhora do Ó, 168 Tel. +55 113 932 48 18 br). Popular restaurant with an extensive range of beers and a menu dedicated to chicken, or frango in Portuguese. The star dish is coxinhas,, a tapa with a chicken and cream cheese filling. Dom (Rua Barao de Capanema, 548 Tel. +55 113 088 07 61 www. One of the best restaurants in the world, under the auspices of chef Alex Atala. Star dishes include galinhada, , chicken cooked with rice, saffron, vinaigrette and spices. To find out more VISITOR’S GUIDE 30 LINK abertis JULY 2013 4 1 2 3 largest community of Japanese outside of Japan,sometwomilliondescendentstoday. There are newspapers and banks signpos- ted in Japanese,market stalls with Japanese food,clothing and decoration,and restau- rants where you can enjoy tempura,sushi, yakisoba and the best ramen on the con- tinent. A colourful street market is held in LiberdadeeverySunday,whichiswellworth exploringbeforelosingyourselfinthebooks- tores, coffee shops and bars of the Vila Madalena area in search of a good feijoada. Sundays are a good time to visit the Min- hocão,or Praça por do Sol,a park where the locals gather to watch the sun go down. A 10-minutewalksouthalongPaulistaAvenue brings you to trendy rua Oscar Freire, one of the most exclusive streets in the world, which boasts every major luxury brand;and thewealthyneighbourhoodofJardims,with a profusion of stately homes,video survei- llance cameras and private security,as well as a lovely collection of bohemian coffee shops and bistros. Abusyculturaldiary In terms of the cultural offer, the city has a busy events’ diary. Leading international
  • 30. — 1 — Obelisk in Ibirapuera Park. — 2 — Museum of Art of Sao Paulo. — 3 — Edifício Copan, by Oscar Niemeyer. — 4 — Fruit at the Municipal Market. JULY 2013 LINK abertis 31 INTERVIEW | CLAUDIO CARVALHO “It’s alwaysagood time tovisit Sao Paulo” Claudio Carvalho, arteris Communications Manager, fills us in on ways to make the most of a trip to Sao Paulo. What shouldn’t you miss if you visit Sao Paulo? Sao Paulo is a cosmopolitan city and as such boasts many attractions. In terms of culture, the Museum of Art of Sao Paulo is the most important Western art museum in the southern hemisphere. You also shouldn’t miss the art gallery and Museum of Modern Art (MAM) in Ibirapuera Park. And even if you’re not a football fan, you have to check out the Football Museum at Pacaembu Stadium. Plus there’s a wealth of live music shows. Many are local, and the cultural centres found in nearly every corner of the city in particular have constant and very interesting programming schedules. Where do the local people usually spend their leisure time? It is essential to visit the parks. Particularly Ibirapuera, the city’s largest green area, where you can practice physical activities (walking, running, cycling, physical exercise), cultural activities (Museum of Modern Art, Museum of Contemporary Art), relax in a protected area that has been lovingly conserved, flop down on the grass around the shore of the large lake and reflect on the shade cast by the trees, either with a good book or simply enjoying the peace and beauty of the place. For foodies, there are two typical snacks you should try: the mortadella sandwich and the cakes served up in any restaurant in the city’s Municipal orchestras,ballettroupes,theatreshowsand exhibitions visit Sao Paulo every year.Other famous events include: theArt Biennial, the InternationalBookBiennial,theInternational Film Festival, the International Short Film FestivalandtheInternationalFestivalofSce- nicArts, as well as music, film and theatre festivals,among many others. SaoPaulo’sCentralPark CuttingthroughtheJardimsneighbourhood you reach Ibirapuera Park, an enormous natural oasis designed by Oscar Niemeyer, where paulistas play sport and stroll bet- ween the three artificial lakes and the surroundingbuildings.Amongothersofnote are the Auditorium and the Museum of Modern Art (MAM). Other features of Ibi- rapuera Park are the characteristic obelisk ofSaoPaulo,72metreshighandmadefrom travertine marble, dedicated to the Cons- titutionalist Revolution of 1932;the Mata- razzo Pavilion,home of the Sao Paulo Bien- nial; and the Monumento às Bandeiras, in remembrance of the Portuguese colonists who populated early Brazil. Sao Paulo is a city similar to NewYork, but at the same time thoroughly Brazilian. A different Brazil. Market, known as Mercadão. And for night-time entertainment? The night life, which is culture too, can be enjoyed in the neighbourhoods of Vila Madalena, Itaim Bibi and Pinheiros, among others, where there are loads of places with a great variety of cuisines and many styles of music. Where can shopping fans go? There’s nothing better than the 50-plus malls designed for all tastes, from the most popular to the most upscale. But there are specific commercial streets, too (jeans, shoes, electronics, antiques, etc.), exclusive shopping districts and specialist boutiques (white china, Russian dolls, oil, etc.) What are the people like and what is the best time of year to visit? The inhabitants of Sao Paulo are characterised by a culture of work and modernisation. And it’s always a good time to visit Sao Paulo; it’s a receptive and hospitable place. The city doesn’t change during the year, but the climate isn’t exactly stable. Every paulistano knows the phrase: “Here you get the four seasons of the year in a day”.
  • 31. CANADA CANADA EEUU Burnaby Surrey Coquitlam BRITISH COLUMBIA Port Mann Bridge Port Mann BridgeVancouver The location: Port Mann Bridge, the widest bridge in the world The toll gates are on the accesses to the bridge GATEWAYS 160 metres high 288 cables 65 metres wide 10 lanes 2 km long 32 detection aerials 62 cameras 32 laser devices River Fraser River Fraser Railway Railway Highway 1 Vancouver East coast and USA 32 LINK abertis JULY 2013 REPORT The free-flowe-toll system on the widestbridgeintheworld,PortMann Bridge(Vancouver,Canada),operatesthanks to abertistechnology.The sanef-egis con- sortium was last year awarded the contract toinstallandoperatetheworld’slargesttoll gantry on a bridge for a seven-year period, with a possible extension of a further three years. Port Mann Bridge forms part of the renovation project of Highway 1, which passes through the US and Canada, aimed at improving traffic on the outskirts of the cityofVancouver.Tothatend,itwasdecided to build a bridge more than 2 kilometres longand65metreswidewithupto10lanes enjoyed three areas of skill in toll infra- structures: concession, operation and col- lection systems. A solution was designed that involved the use of Radio Frequency ID technology. This wireless, contact-free technology installed on the bridge makes it possible to register and identify all of the vehicles that pass through the gantry without having to stop,thanks to a radiofrequency detection system.It is an advanced integrated system entailing 64 cameras, 32 laser devices and 32 detection antennae. When a vehicle approaches the first section of the gantry, a preliminary sensor (loop detector) installed in the ground (5 in each traffic direction). It is the widest intheworld,accordingtothe GuinnessBook ofRecords,,wider than the famous Sydney Harbour Bridge which, at 49 metres, had held the record since 1932. Withoutstops,agileanddynamic It is estimated that over 130,000 vehicles cross the Port Mann Bridge every day.The bridge’s characteristics made it necessary to employ a toll system where vehicles wouldn’t have to stop and slow down the traffic, and which had a flexible, dynamic collection system.The consortium in which sanef its technologies participated saw off the other 13 competitors because it Port Mann Bridge, 65 metres wide, is part of the renovation project of Highway 1, which crosses the US and Canada abertismanagesthetollon thewidestbridgeintheworld International expansion TEXT AND PHOTOS abertis
  • 32. How does the ’free-flow’ toll electronic payment work A laser device detects the vehicle, now within range of the front camera The front camera shoots the vehicle and its registration The recorded information is sent telematically to the back office, where it is processed The rear camera starts to follow from behind A loop detector (mass detector) detects the vehicle A second detector calculates the number of axles The aerial receives the signal from the chip installed in the vehicle A last detector and a second laser close the following on exit The user places a a sticker with a chip and RFID technology in the vehicle Average speed when passing 100km/h A third detector confirms the number of axles FIRST SECTION OF THE GATEWAY SECOND SECTION OF THE GATEWAY 2 24 1 2 4 53 Infography: NOAH GRAÑÓ JULY 2013 LINK abertis 33 detects its presence by its mass.A second loop detector then calculates the number of axles on the vehicle. This is when an antenna first captures the chip the vehicle must have. Thechipsarestickersthatthecustomer positions in a visible place on the vehicle’s front windscreen for problem-free reading. Meanwhile a camera photographs the vehicle to read the registration plate and the detection antennae installed on the gantry structure receive the chip signal. Culturaldiversity All of the information is sent to the group’s back-office to process the toll payment. The system requires the user’s registration either over the Internet, by phone or in person.The cultural diversity of the British Columbia region,whereVancouver is found, means that the customer service centre cananswerquestionsinuptosixlanguages: English,French,Mandarin,Punjabi,Korean and Persian. Asystemwithmultipleadvantages One of the main challenges was getting the drivers and companies that use the bridge on board with the project.A campaign to register with the payment system was subsidiary manages the Golden Ears Bridge, also in the city ofVancouver.The new tech- nology has enabled total inter-operating capacity between the toll systems of the two bridges. ThePortMannBridgeprojectisanother boosttoabertis’leadershipinthetolltech- nology sector. It joins other emblematic projects, such as the free-flow toll on the Dublin ring road,which records the passage of an average of 20,000 vehicles per day, and the Eurovignette system in Slovakia, which makes it possible to charge a rate for trucksofmorethan3.5tonnesonthecoun- try’s 2,000 kilometre network of toll roads, nationalhighwaysandsecondaryroutesvia a satellite identification system. Link implemented,under the commercial name TReO.The campaign was a hit, and almost 550,000 vehicles had registered before the bridge had even opened. Customer payment is also ensured by a centralised automobile insurance system in Canada. Therearemanyadvantagesofthisfree- flow system.Firstly,it is more efficient.The lack of barriers increases capacity and cuts delays. Secondly, from the user’s point of view, the time it takes waiting to cross the bridge has been cut by up to 45 minutes, improving quality of life and enabling a sig- nificant fuel saving. Finally, it has been an environmental success as it reduces pollu- tionanddeliversenhancedairquality.Bring- ingtheaveragespeedatwhichvehiclespass to 100 km/hour cuts CO2 emissions. sanefmanagingdirectorFrançoisGau- thesays,“thesanefgrouphasalwaysknown how to demonstrate its leadership in new technologies. This is the first time that a radiofrequencye-tollsystemofthissizehas been installed. It will become a reference point right across North America.We are very proud of this major groundbreaking project”. With this contract, abertis shores up its presence in Canada,where the sanef its
  • 33. 34 LINK abertis JULY 2013 Link REPORT The widening of three lanes with the new inter-city toll system will make it possible to treble the number of vehicles that travel in direction Valparaíso Route 68 gets an e-toll abertis autopistas Chile TEXT AND PHOTOS abertis Since 15 April, customers of Route 68,managed by abertisautopistas Chile, have been able to benefit from the inter-cityTAGtollsystemthatjoinsSantiago deChilewithValparaíso.Theroadwillfeature three dedicated e-toll lanes (two for light vehiclesandoneforfreight),whichwillmake it possible to treble the hourly number of vehiclesthattraveltowardsthecoast.Chile’s PublicWorks Minister, Loreto Silva, visited the Lo Prado toll to supervise the first tests abertis ran to implement the new system, known as Non Stop Go,on a route used by 1.5 million vehicles per month. The e-toll operates with antennae that detect the TAG device 150 metres before the toll booth, automatically raising the barriers and enabling the vehicle to pass without having to stop.Over 2,000 drivers per day have been able to use the three e-tolllanessinceMarch,whichworkinboth directions at the tolls at Lo Prado and the toll in Zapata, where six new toll lanes are due to be implemented shortly.A regular tollboothcanprocess250vehiclesperhour and with this system the number rises to up to 800 in the same period of time. Betterserviceforthepublic abertis autopistas Chile began a public relations campaign to promote the use of theTAG,which today has over 8,000 vehi- cles registered,a figure which has exceeded the forecast for the end of year.The Pub- lic Works Minister, Loreto Silva, also stressed the importance of this new type of toll to cut the traffic jams produced mainly in summer and over long weekends. She added that the Non Stop Go system would enable better service provision for the public. MORE THAN 2,000 DRIVERS CAN USE THE THREE E-TOLL ROADS, WHICH OPERATE IN BOTH DIRECTIONS New Route 68 portal abertis autopistas Chile has developed a new abertis routes website, which integrates the tools that make it the most functional of all of the concessionaires’ toll road site in Chile and Latin America. The new site will offer users all relevant information for planning a trip, checking the tourist sites Route 68 connects to and how to reach them; checking traffic status; and receiving on-line news regarding works, accidents and traffic, among other features. Another important feature is the integration of Google Maps, making the map much more user-friendly. The website is available in a regular and mobile version.
  • 34. JULY 2013 LINK abertis 35 Following a year of works, the expansion to three lanes of the southern section of Chile’s largest toll road is now a reality Opening of the third land of the Central toll road in Chile abertis autopistas Chile TEXT AND PHOTOS abertisChile Thethirdlaneofthesouthernstretch of the Central toll road in Chile was openedinMarch,ataneventwhichfeatured the presence of Chile’s PublicWorks Minis- ter, Loreto Silva.This is a complex project that will improve the service for the people who travel along this important part of the Central toll road on a daily basis.The result is an almost 50% rise in the road’s capacity on a stretch that runs for some eight kilo- metres on the southern section of the road, between Avenida Carlos Valdovinos and Route 5 South. The minister said that the work,“sig- nificantly improvestheroadcapacityofthe Central toll road on this stretch,”adding,“it forms part of the large-scale improvement plan that president Sebastián Piñera has spearheaded and which is aimed at boost- ing the road capacity of all accesses to San- tiago, as well as roads within the city of Santiago”. WithaninvestmentofclosetoUSD15 million,theimprovementsimplementedwill raisetheroadstandardforthethousandsof driverswhotravelalongthisCentraltollroad route each day,freeing up the North-South axisbyabsorbingvehicleflow,mainlyheavy transport. Greatercapacity The extra lane,which runs in both directions, will increase the road capacity from 42,000 to80,000vehicles.TheCentraltollroadman- aging director Christian Barrientos said:“As wellastheconstructionofthethirdlanes,the worksentailedtheresurfacingofthetwoexist- ing roads, incorporating cutting-edge road- surface technology, which improves vehicle adhesiontotheground,eliminatingtheforma- tionofwater-filledpotholesonrainydaysand muffling the noise caused by tyre friction”. Additionally,theroadworksinvolvedan importantconcernforthelandscapingofthe sides of the road, where native flora was introduced to enrich the green areas the Central toll road already maintains. ChileanPublic WorksMinister, LoretoSilva, attheopening.
  • 35. 36 LINK abertis JULY 2013 REPORT The final phase of the overall improvement and expansion project of the AP-6, which has entailed an investment of 335 million euros, has come to an end The third lane between San Rafael and Villacastín is now open abertis autopistas abertis has implemented the third lane in each direction on the San Rafael-Villacastín section of theAP-6 (20.5 kilometres between km points 60.5 and 81.0), the basic communications corridor between Madrid and northwest Spain.This brings to an end a number of works that have made it possible to adapt the road’s capacity to traffic demand and offer a mar- gin for future expansion if necessary. It is the final natural phase of a road- communications improvement project on the northwest corridor,developed over the past 12 years in the two autonomous com- munities of Madrid and Castile and Leon and over a length of more than 60 kilome- THE WORKS MAKE DRIVING EASIER, ENABLING FLUID TRAFFIC FLOWS AND IMPROVING SAFETY LEVELS ON THE ROAD tres of high-capacity roads, which has entailed an overall investment by the con- cessionaire of 335 million euros. ThirdlanebetweenSanRafael andVillacastín Thewideningtothreelanesineachdirection on the San Rafael-Villacastín section (km points 60.5 to 81.0) boosts the capacity of the AP-6 toll road. Specifically, it responds to the growing need to expand the road at km 81, where traffic divides between the AP-6 and the AP-51, with the goal of pre- venting possible congestion in the event of special traffic operations. Theworkshaveinvolvedacomprehen- sive improvement to the road, having includednewviaducts(Arenales,Sotilloand Lavadero) and route modifications needed to eliminate sections with a specific speed of under 120 km/h (Alto del Caloco). The expansion has entailed an invest- mentofaround75millioneurosonthepart of the concessionaire.The works make driv- ing easier, enabling fluid traffic flows and improving safety levels on the road.Having taken three years, the works were done on the condition that the road had to remain The project was rolled out on a 60-kilometre stretch of road.
  • 36. JULY 2013 LINK abertis 37 open to traffic at all times.This entailed a significant technical challenge and required perfect coordination between the different actions. One example is the demolition of the existing viaducts and construction of new ones atArenales,Sotillo and Lavadero using half roads. abertis autopistas kept customers permanently up to date via different com- munication channels so they could always know the state of the works and the areas affected, using variable message panels (74 alongthelengthoftheAP-6andonitsaccess roads; 24 in the works section), a Customer Service Centre (902 200 320), the website and on Twitter @ Truck_Tweet. Another feature of the works was the effortandcareputintoenvironmentalmat- ters,notonlyintermsofbudgetbutregard- ing the environmental tracking that was carried out at all times by a company that specialises in this area, which meant the road always fulfilled its service vocation from the environmental policy viewpoint as well. AP-6improvementproject The expansion of the third lane between San Rafael andVillacastín is the last natural phaseofaprojecttoimprovetheinfrastruc- ture of theAP-6 toll road carried out in the Autonomous Communities of Madrid and Castile and Leon over the past 12 years.The THE NEW THIRD LANE ENTAILED AN INVESTMENT OF AROUND 75 MILLION EUROS ON THE PART OF THE CONCESSIONAIRE projectincludeddifferentworksonthecon- cession: Widening of a fourth lane per road between the M-50 junction (Las Rozas- Norte) and the junction with the M-601 (Villalba). Expansionfrom2to4lanesbetween Villabla and theValle de los Caídos junction. New road surface and a new tunnel beneath Guadarrama pass, between the ValledelosCaídosandSanRafaeljunctions. Improvement of the other two tunnels, adapting them to current road safety regu- lations. ExpansionoftheSanRafaelTrunkToll Station, adapting it to increasing traffic demand and equipping it with more auto- matic lanes:card andVíaT to speed up pay- ment. The two projects on both sides of the Guadarrama entailed a complete improve- ment and expansion of the AP-6 toll road. Theworksmadeitpossibletosolvemobility problems especially during special traffic operations and on weekends, which were obviouslyneededfollowingtheconstruction of the roads in the directions of Ávila and Segovia(AP-51andAP-61,respectively)and by the increase of the population in areas around Guardarrama.They have also made traffic more comfortable, contributing to fluid travel and implementing maximum safety levels in the infrastructure.All of this with the goal of keeping the toll road at its optimum service level, seeking maximum satisfactionforourcustomersatalltimes. The works were done with the condition that the toll road had to remain open to traffic at all times.
  • 37. 38 LINK abertis JULY 2013 REPORT The Girona Oest direct access from the toll road to the centre of the city, starting near the town of Sant Gregori, opened in March.The Fornells junction will soon be implemented as well NewAP-7 junctions in Girona coming along well abertis autopistas TEXT abertisPHOTOS JosepLoaso TheworksonthenewAP-7junctions that abertis autopistas is carrying out in Girona are continuing to make good progress.TheGironaOestaccess,theclosest junction to the city out of all of the ones on theAP-7, opened last March. Located near the neighbouring town of Sant Gregori, Girona Oest is a complete interchange that allowstraffictomovebetweenthetollroad and the roundabout on the GI-531. Thenewaccess,whichhasatotalof10 toll booths and a control building, entailed the construction of an underpass beneath the toll road, the works on which involved movingnearly350,000cubicmetresofearth. To minimise the infrastructure’s envi- ronmentalimpact,thesurroundingareawas renovated, covering almost 65,000 square metres, and 17,000 trees and bushes were planted.A further goal was to cut noise pol- lution to a minimum through the use of acoustic screening and sound-reducing asphalt on the road surface. THE PROJECT HAS REPRESENTED THE CREATION OF A THIRD LANE ALONG 78 KILOMETRES OF ROADS IN GIRONA PROVINCES GironaOestisthefirstofthethreenewjunc- tions abertis autopistas is working on as part of theAP-7 expansion project to open. Theroad-wideningproject–whichisalmost finishedexceptfortheGironajunctions–has representedthecreationofathirdlanealong a total of 78 kilometres of roads in Girona provinces, and which altogether abertis autopistas has executed along a total of 125 kilometres between La Jonquera and Vilaseca-Salou (Tarragona).The purpose of these improvements it to adapt the road’s capacityandoffertoll-roadusersbetterserv- ice conditions. GironaRingRoad Together with the already opened Girona The new access has a total of 10 toll booths and a control building.
  • 38. JULY 2013 LINK abertis 39 Oest,theexpansionprojectinGironaisbeing completed with the construction a further two new junctions:Fornells andVilademuls. The works on these two accesses are under wayandareprogressingtoschedule.Fornells, where the works are at the final stretch, is expected to be ready during summer.The Vilademuls junction is scheduled to finish during the first quarter of 2014. These new junctions (Fornells and Vilademuls),alongwiththeonesthatalready exist, Girona Sud, Girona Nord and Girona Oest, make up the Girona ring road project of the AP-7 and involve the integration of the N-II and theA-2 and the design of four lanes along a 20-kilometre route. Internal journeys between these five junctions will therefore be free. The company is investing nearly 300 million euros in theAP-7 projects in Girona provinces, on top of the 200 million-euro investment in Tarragona.The Girona Oest junction,specifically,hasentailedaninvest- ment of 11.8 million euros by the company. ApprovalfortheFigueresNord junction The Ministry of PublicWorks has also given the go-ahead to the project to convert the Figueres Nord access into a complete inter- change.This junction, located in the Llers municipal area, connects theAP-7 toll road withtheN-II.Atpresentthejunctionhastwo ramps that allow traffic to exit the toll road Link fromFranceandgetontoitinaFrance-bound direction.Tocompletethejunction,itisnec- essary to build two new on-ramps in the direction towards Barcelona and off-ramps from the city. The works have included doing up the surrounding area and planting 17,000 trees and bushes.
  • 39. 40 LINK abertis JULY 2013 REPORT Heavy vehicle customers who join the Truck Plan programme will benefit from discounts from the first euro spent on journeys right along the abertis autopistas network New discounts for hauliers abertis autopistas TEXT AND PHOTOS abertis Since 1 June, haulage professionals have been able to benefit from the new exclusive discounts programme that abertis autopistas offers across its entire toll-road network. Under the name Truck Plan, the programme makes it possible to obtain monthly discounts of up to 13% from the first euro spent on journeys made anywhere along the abertis autopistas network. Thediscountswillrangefrom5%ofthe amountspent(forcustomerswithamonthly spendofunder300euros)to10%(between 300 and 600 euros per month) and 13% (monthly spend of over 600 euros).These sums will be added to expenditure on stays atTruck Parks, the areas reserved for heavy vehiclesavailableintheMontsenyandPorta Barcelona service areas on theAP-7. When it is implemented,the rate reduc- tionswillreplacethecurrentBonotacandTac- consum programmes for heavy vehicles and cover the whole of the abertis autopistas networkinSpain,exceptinaulesa(AP-71Leon- Astorga). Class 1 and 2 heavy vehicles (gross vehicle weight of 3.5 tonnes or more) with CUSTOMERS WITH HIGHER LEVELS OF EXPENDITURE CAN SIGN UP TO THE PREMIUM TRUCK PLAN AND GET 50% OFF ON STAYS AT TRUCK PARKS aVía-T e-toll device will be able to benefit from this discount programme.To sign up, it is necessary to register for the promotion at Truck Plan discounts can accumulate with the frequent user discounts already availableforheavyvehiclesonsomesections of the abertis group’s toll roads in Spain. Premium Programme for major accounts Professional customers with higher levels of expenditure will also be able to sign up to the PremiumTruck Plan programme.This plan includes discounts of 50% at abertis autopistas Truck Parks and will also offer 50% off at selected hotels and Áreas and Autogrill service areas along the Group’s toll roads.
  • 40. JULY 2013 LINK abertis 41 EXAMPLESOFSAVINGSWITHTHETRUCKPLAN HaulageprofessionalswhojointheTruckPlanwillbeabletoenjoymajorsavingsonabertis tollroadsinSpain,combiningthese discountswiththeonesthatalreadyexistintheGroup’stoll-roadnetwork.Caseswouldincludethefollowing: Route Frequency Monthlyexpenditure Reductionsand Discounts (notincludingdiscounts) accumulateddiscounts total Barcelona-LaJonquera Dailyreturntrip €1,142 -35%Maçanet-Jonquera -43% -13%TruckPlan GironaSud-L’Escala Dailyreturntrip €200 -50%Maçanet-Jonquera -67% Freeofcharge.Girona -5%TruckPlan LaJonquera-Valencia 8monthlyjourneys €722 -35%Maçanet-Jonquera -24% 10%regularuserdiscountbetween TarragonaandValencia -13%TruckPlan Zaragoza-Bilbao 4monthlyjourneys €530 -50%Zaragoza-Gallur -17% -10%TruckPlan Customers who regularly use the AP-6 toll road have been able to benefit, since 1 June, from a new discount programme of 15% for light vehicle drivers. Underthename‘Plan15’,thenew programmeoffersdiscountsto customerswhomakemorethan 20identicaltripspermonth,valid inbothdirections,ontheAP-6. The15%discountappliesfrom thefirsttripmade. This new discounts programme on the AP-6 complements other ones that exist on other roads in the abertis autopistas network, where regular use is also rewarded. The ‘Plan 15’ will award regular users of the AP-6
  • 41. 42 LINK abertis JULY 2013 REPORT The international convention of corporate leaders is a reflection of the company’s international activity abertis holds 4th Global Gathering abertis TEXT AND PHOTOS abertis abertisheldits4thGlobalGathering in Barcelona on 6 and 7 June.This is the international convention for Group executives, which this year drew the com- pany’s top executives fromArgentina, Bra- zil,Chile,Spain,the US,France,Puerto Rico and the UK. The main aim of this global meeting is to share the Group‘s corporate strategy, focusedoninternationalexpansion,withall of the countries, and to report on the new management structure that was recently presented.Thisrestructuringhasentailedthe appointment of David Díaz as arteris CEO (Brazil), Luis Miguel de Pablo as managing director ofAutopistas Chile, and Carlos del Río as managing director of the Rest of the World (ROW) Concessions. The international executives’meeting that abertis held reflects the company’s THE CONVENTION REFLECTS THE COMPANY’S INCREASINGLY GREATER GEOGRAPHICAL DIVERSIFICATION THROUGH ITS BUSINESS AREAS increasingly greater geographic diversifica- tion through its different business areas. Globalmatters At this year’s event, organised around a number of panel discussions that took the form of round tables, there was the chance to share and discuss different perspectives coveredwithintheGrouponmajorcommon issues.They included the most important aspects of the new model to integrate busi- nesses/countries in the abertis group; the perspectives of toll roads on the European continent,withverymaturenetworksanda clearorientationtowardsamorecustomer- service focused model; the diversity of toll roadsontheAmericancontinentinlinewith eachcountry;newprospectsinthetelecom-
  • 42. JULY 2013 LINK abertis 43 munications sector, always marked by the needforinvestmentandongoingandspeedy updates; and the role the corporation has playedandshouldplayintheGroup’sfuture, in a context of international expansion. abertis CEO Francisco Reynés shared with the attendees his general vision of the Group’sevolutionsincethelastmeetingand abroad-strokelookatthecompany’sfuture, as well as the tools it will be able to use to approach it. He particularly stressed the need for a determinedattitudewhichmakesitpossible to clearly mark the Group’s goals, ensure goodsupervisionandguidancetocheckthat the steps are carried through properly, and of evolving with motivation, commitment and responsibility. ABERTIS CEO FRANCISCO REYNÉS STRESSED THE NEED TO EVOLVE WITH MOTIVATION, COMMITMENT AND RESPONSIBILITY Previous page, left to right: Josep Ventosa, Tobías Martínez and Oriol Sitjà, marketing director, managing director and business director at abertis telecom, respectively; and Jordi Bosom, director of Business Strategy and Development at Hispasat. Above, group photo of the event.
  • 43. 44 LINK abertis JULY 2013 REPORT abertis Who should assume the traffic risk - financial organisations or the Administration? Are cost-benefit analyses considered when determining a project’s eligibility?These and other questions were raised at the 3rd Conferences andTraining Meeting,organised by Unidad Editorial and held in Madrid in March. abertis was one of the companies that took part in an event where,under the title CurrentQuestionsin Public-PrivatePartnershipProjects,discus- sions covered aspects such as the new road concessions model, the Administration’s responsibility for assets and the manage- ment of the risk of construction on public- private partnerships to access funding. The meeting featured the presence of representativesofthePublicAdministration, suchastheSecretaryofStateforInfrastruc- tures, Rafael Catalá, and the CEO of Adif, GonzaloFerre;infrastructurefirmsincluding GlobalvíaandAccesosdeMadrid;legalprac- tices such as Deloitte, Broseta and KPMG; and employer association representatives including José Luis Feito, on the part of ASETA, and Javier Montero Vicenti, from SEOPAN. Extendingfundinglines Withallofthepartiesinvolved,themeeting was keen to discuss a regulatory framework in terms of planning and risk assignation that will let the country attract investors and extend funding lines for projects. The viability of public-private partnership abertis took part in an event that addressed the different problems and solutions for handling public-private partnership development TEXT AND PHOTOS abertis The managing director of abertis autopistas, Josep Lluís Giménez, spoke aboutthemanagementoftheconstruction risk in PPPs and raised the possibility of structuring this risk so that partners can access ratings of a high-enough value to permit good access to the bonds market. The different discussion panels attempted to provide solutions to other problems on thetable,suchastheexpropriationsofradial roads in Madrid and low demand, due to different reasons depending on the project, whichcanthreatenaconcession’seconomic solvency. The purpose of the meeting was, in short, to discuss questions that threaten the viability of public-private partnerships in the development of infrastructures and services. Frameworkundertransformation At the end of the event, all of the speakers agreed on the importance of stressing the transformation of the development frame- workofPPPs,whichhavebeenaffectedboth by the complicated economic and financial situation and negative experiences in the recent past in relation to unforeseen cost overruns. These overruns are caused by expro- priations, falling demand with respect to the data from previous studies performed, and the presentation and acceptance of tenders at much lower prices.
  • 44. abertis telecom, managing director Tobías Martínez (left) and the mayor of Terrassa, Jordi Ballart (right), during the event. JULY 2013 LINK abertis 45 abertis telecom to manage police communications inTerrassa Terrassa City Council has awarded abertis telecom, the abertis group’s infrastructure operator,the supply, development and maintenance of TETRA communications terminals for theTerrassa Municipal Police, which operates with the Government of Catalonia’s RESCAT (Cat- alan Radio Emergency and Security Com- munications) network. The contract will have a duration of five years and a budget of 199,000 euros. Forabertistelecomthenewawarding willentailthemanagementof150portable, 27 mobile and two fixedTETRA terminals. abertis telecom For abertis telecom the tender, which has a budget of close to 200,000 euros, entails the maintenance of more than 150 communications terminals To cover the needs of the municipal police vehicle units, abertis telecom will supply 13 helmets that feature a communications system with a Bluetooth connection. The project also includes the installa- tion of the AIRS (abertis Intelligence Response System) technology platform so that the local police can carry out the oper- ational management of its officer fleet in real time. TheRESCATnetwork The RESCAT network is especially designed tocoverprofessionalbodiesandgroupsthat TEXT abertis|PHOTOTerrassaCityCouncil workinsecurityandemergenciesandCata- lonia,bothintownsandruralenvironments. Servingthepublic ThemainusersofthenetworkaretheMossos d’Esquadra Catalan police, the Catalan fire brigade, the Barcelona fire brigade, the Bar- celonaUrbanGuard,theMedicalEmergencies Service, Rural Agents, the Catalan Water Agency, the Directorate-General for Civil Protection, the RoadAuthority, the Catalan TransportService,localpoliceofficersandthe civil protection services of all city councils without their own local police force.
  • 45. 46 LINK abertis JULY 2013 REPORT Mobile World Congress 2013 abertis telecom organised the world-exclusive presentation of the first broadcasts of Ultra High Definition DigitalTerrestrialTelevision(UHDTV)atthe 8th Mobile World Congress held in Barcelona in February.The broadcasts could be followed on an 84”monitor which dem- onstratedtheimagequalityaffordedbythis system,fourtimesgreaterthanpresentHigh Definition (HD),which is why it is called 4K. abertis telecom carried out the tests in collaboration with Televisión Española UltraHigh Definition Televisionarrives abertis telecom used the Mobile World Congress (MWC) to showcase second-generation DTT, with simultaneous broadcasts for 4K Ultra High Definition and mobile devices TEXT AND PHOTOS abertis (TVE), the European Broadcasting Union (UER), SAPEC, the Polytechnic University ofMadrid,LaSalle,Sonyandtheproduction company Lapospo,using technology devel- oped by the second-generation DTT (DVB- T2)undertheDVB-T2standardonthesame frequency band used for TV broadcasting at present. TheUltraHighDefinitionsystemmakes it possible to quadruple the number of pix- elsonthescreen.Thisnotableimprovement inresolutiontransformsviewers’experience of audiovisual content in their interaction with new digital entertainment systems, such as videogame consoles or Blue Ray players.35Mbps were used to broadcast in 4K.This consumption will be halved using futurehigh-efficiencyvideoencoders,which will facilitate large-scale access to the tech- nology. Hybrid television: convergence betweenDTTandInternet 2013 will be a crucial year for hybrid DTT, UHDTVtelevision broadcastsatthe abertistelecom standattheMWC.
  • 46. JULY 2013 LINK abertis 47 making it possible to enjoy online video serviceprovisionsfromDTTtelevisionchan- nels.Hybrid DTT,which converges DTT and Internet,isbasedontheHBBTVopenstand- ard that is being adopted by television manufacturers. The Hybrid DTT website was imple- mented recently. Hybrid TV is a Spanish interactiveTV specification that integrates DTTandInternetinasingleuserexperience. Thewebsitefeaturesfullinformationonthe technical advantages and possibilities the system offers and will very shortly provide information on the hybrid content the tel- evision stations offer, as well as different receptor models that meet the technical specifications to offer this product. Aswellasthe4Kdemonstrations,aber- tis telecom also presented its OTT (over thetop) cloud-based multiscreen solution at the event,which provides all of the serv- icesneededtomanageonlinecontent,from intake and distribution to analytics,support and monetisation. abertistelecom carried out the dem- onstrations of its services on a wide variety ofdevices:smartphones,tablets,PCs,set-top boxesandconnectedtelevisions,confirming Second-generation DTT on mobile terminals abertis’stelecommunications operatoralso,atthesametimeasthe UHDTV,randemonstrationsofthe newsecond-generationDTTstandard withintheCATT2projectforthe developmentofmobile DVB-T2 technologyThegoaloftheCATT2 projectistostudyandimplementthe possibilitiesofthisnewDTTstandard initsimprovedversionformobile terminals(T2-Lite).The demonstrationscarriedoutatthis year’sMobileWorldCongress demonstratedtheimageclaritythis standardinmobiledevices (smartphones,tabletsandlaptops) canoffer. the feasibility of its solution on different operating systems including Android, iOS andWindows. At this year’s MWC,there was a dem- onstration, in collaboration with Nagra, of how to enjoy content streamed from the Internet or from broadcasts on different home devices.The solution makes it pos- sible to jump between screens without los- ing sight of the content and guaranteeing content protection at all times. Otherabertistelecomservicesatthe MWC As well as the management of the event’s radio spectrum,the abertistelecom stand included the presentation of a service port- folio geared towards mobile operators with the latest technology solutions in the con- vergent environment of the audiovisual sector and the Internet, targeted at the transmissionofaudiovisualcontentfortheir reception on mobile devices. The operator also presented develop- mentstargetedatcommunicationsforsecu- rity and emergency forces through mobile devices and demonstrated the platforms it has developed in the smartcityfield. Links PrinceofAsturias visitsthe4K televisionstand abertistelecom wasinchargeof carryingoutthe demonstrations.
  • 47. NEWS 48 LINK abertis JULY 2013 The Hispasat group has successfully launched its new satellite,theAma- zonas 3, from the European Space Agency base located at Kourou (French Guiana), onboard theAriane 5 ECA launch vehicle by the companyArianespace. The separation of theAmazonas 3 sat- ellite from the launch vehicle occurred approximately 28 minutes after the rocket took off.The ignition and deployment of its solar panels were initiated after that.From then on, the manoeuvreswere started to HispasatlaunchestheAmazonas3 TELECOMMUNICATIONS The new communications satellite, successfully launched in anAriane 5 ECA from French Guiana, is now in space TEXT AND PHOTOS Hispasat position the new satellite in its geostation- ary orbit where its correct operation was checked.After the manoeuvres were suc- cessfullycompleted,thesatellitewasplaced in its definitive geostationary orbit at the Brazilian orbital position of 61ºWest. BridgebetweenAmerica andEurope For the CEO of HISPASAT, Carlos Espinós, “This new satellite, the company‘s tenth, consolidates the Group as the main com- Launch of the Amazonas 3 with an Ariane 5 ECA from Arianespace.
  • 48. Link JULY 2013 LINK abertis 49 munications bridge between the European and American continents. It brings a new advance with the incorporation of Ka band to provide interactive services and multi- media applications via satellite to a large number of users,and thus extend access to the majority of the population.The HISPA- SAT Group is the primary satellite operator tooffer this possibility in LatinAmerica.Our goal is to continue offering our clients inno- vative and high quality services adapted to their communications needs”. With a 15-year lifespan,the new satel- lite will provide coverage to the American continent, Europe and North Africa from the Brazilian orbital position of 61ºWest. TheAmazonas 3 provides continuity in the services currently offered by the Hispasat Group from this position and contributesto making Internet access universal in the region, an important advance in reducing the digital gap in LatinAmerica. ParticipationofSpanishindustry With an investment of more than 200 mil- lion euros, the project included important participation by Spanish industries such as EADS CASA,Thales Alenia Space España, IMUX,RYMSA,MIER,GMV,Indra and INSA (the Canary Islands control station). Arianespace Arianespace is the world’s leading satellites launchcompany,providinginnovationsince 1980. Backed by 21 shareholders and the EuropeanSpaceAgency,Arianespaceissup- portedbyaninternationalworkforcewhich, since June 2012, has performed 206 launches of the Ariane rocket (301 useful loads),26 launches of the Soyuz (two from the French Guianan Space Centre and 24 from Baikonur) and the first launch with a Vega vehicle.The company is planning 22 Ariane 5 launches, 15 Soyuz and 2 Vega, representing more than 3 years’activity. THE LAUNCH SHORES UP HISPASAT’S POSITION AS THE LEADING COMMUNICATIONS BRIDGE BETWEEN THE EUROPEAN AND AMERICAN CONTINENTS Technical data Amazonas3wasmanufacturedby SpaceSystems/LoralonitsSSL1300 platform.Ithasalaunchmassof6.2 tonnesandawingspanofmorethan 26metresandaheightofeight metres.Ithas52simultaneous transponders,33inKubandand19in Cband,aswellas9beamsinKaband andaimpointcontrolin3beamsthat guaranteehighaimingprecision.
  • 49. NEWS 50 LINK abertis JULY 2013 ThethesisCharacterisationandmod- ellingoftheoperationspeedoncon- ventional roads through the naturalistic observationoflightvehicles,byDrAnaMaría Pérez Zuriaga,was this year’s winner of the 10th abertis Research Prize on Transport InfrastructureManagementawardedbythe abertis-UPC chair.This award recognises the best doctoral thesis presented in differ- ent Spanish universities. In the form of dissertations and end of degreeworks,theprizewenttoHéctorFornés Martínez,withtheworkentitledAnalysisand optimizationoftheluggagecheck-incounter allocationprocessatairports. At the prize giving ceremony held in May in the SeniorTechnical School of Road, Canal and Port Engineers of Barcelona were the Minister forTerritory and Sustainability, SantiVila,accompanied by the president of abertis, Salvador Alemany, and the rector oftheUniversitatPolitècnicadeCatalunya- BarcelonaTech (UPC),Antoni Giró. The president ofabertis,SalvadorAle- many,stressed that the 10th edition of the abertis prize“is a small anniversary which supposes the satisfaction both of the com- pany and of the academic world,as well as a path to carrying out a process of dissem- ination and application of talent to every- one’s benefit”.And he added that “it is a good opportunity to break some moulds that have to be broken between the infra- structure managers and also in the public administrations”.The Minister forTerritory and Sustainability of the Government of Catalonia, SantiVila, also wished to send a The abertis-UPC chair gives the10thabertisPrizefor Infrastructure Research ABERTIS FOUNDATION The winners also went for the 2nd International Prize, which was awarded on 29 May in Paris TEXT abertisPHOTOS JosepLoasoandAnthonyGasparetto messageofoptimismtotheyoung,encour- agingthem“nottoputlimitsontheirtalent at this time of difficulty”, and gave Brazil andChinaasanexample,whichhequalified as “countries apparently at a lower initial level than our country, but with a world of infinite opportunities”.The Minister ended up paraphrasing the writer Gabriel García Márquez by saying that “the young must not expect anything from the 21st century; it must be the 21st century that expects a lot of the young”. This meeting was one of the preamble isofthe2ndInternationalPrizeoftheaber- Under these lines, family photo of the X Prize abertis. Below, Ana María Pérez collected the prize from the president of abertis, Salvador Alemany. On the next page, family photo in Paris of the 2nd abertis International Prize. THE AWARD IS A SATISFACTION FOR THE COMPANY AND THE ACADEMIC WORLD, ACCORDING TO SALVADOR ALEMANY
  • 50. Link JULY 2013 LINK abertis 51 tischair,givenon29MayinParisandwhich was attended by the CEO of abertis,Fran- cisco Reynés, and the Spanish ambassador in France, Carlos Bastarreche. Thewinnersoftheinternationaledition came from the collection of works winning theawardgiveninBarcelonaalongwiththe Universitat Politècnica de Catalunya-Bar- celonaTech (UPC) and those of their coun- terpart which the chaireabertis-École des Ponts ParisTech-IFSTTAR (Institut Français desSciencesetTechnologiesdesTransports, de l’Aménagement et des Réseaux) calls in France, also in the forms of doctoral thesis anddissertation.Thistimethewinnerswere Ana María Pérez andAude Hofleitner,both withworksrelatedtotrafficstudy.Theinter- national prize in the dissertation category went once more to Héctor Fornés and his work on the optimisation of luggage check- in desks in airports. The abertis Prize is of 10,000 euros in the category of thesis and 4,000 euros in dissertation. TheAbertisprofessorialchair The international presence of the abertis professorial chair is increasing, showing the company’s commitment to the aca- demic world.abertis recently incorporated twonewchairsinPuertoRicoandChile.The abertis chair will also soon be present in Brazil.Allwillcontributetotheinvestigation on the repercussion of large works on the territory, thus improving the quality of life of their inhabitants.The abertis chair:also INTERVIEW | ANA MARÍA PÉREZ ZURIAGA Dr Ana María Pérez Zuriaga, winner of the abertis prize in the doctoral thesis category, explains what her research consists of. What is the main aim of your thesis? Ouraimwiththisthesisisto characterisethebehaviourofdrivers byobtainingaseriesofmodelsto giveusacontinuousprofileof operationspeedsonconventional roads. What would be the main applications? Wewouldhavetwodifferent applications:ontheonehand, startingwiththecontinuousprofileof speedsthatwecanobtainfromthe modelswehavedeveloped,wecan assesstheconsistencyoftheroads fromthedesignprocess,notsimply fromthetimetheroadsareoperated. Furthermore,byknowingthe attitudesofthedriverswithrespectto therisk,wecanimprovethebasisof thedriverawarenessraisingand educationcampaignsdependingon theirreactiontothedanger. Do you believe this methodology could be used to improve the line of toll roads, for instance? Undoubtedly,inprincipleitisonly basedonconventionalroads,butthe samemethodologycanalsobe appliedtotollroadstoimprovetheir geometriccharacteristicsandalso theirconsistency. includestheabertis-UPCChairofTransport Infrastructure Management, the abertis- IESE Chair of Regulation Competition and Public Policies,the abertis-ESADE Chair of Leaderships and Democratic Governments, the abertis-FEDEA Chair of Infrastructure and Transport Economy and the chaire abertis-ÉcoledesPontsParisTech-IFSTTAR (Institut Français des Sciences etTechnolo- gies desTransports,de l’Aménage- ment et des Réseaux). The abertis-UPC chair,set up in 2003 by abertis and theTechnical University of Catalonia-BarcelonaTech (UPC) and run by Professor Francesc Robusté, is intended to promoteeducationandresearchinthearea of transport infrastructure management.
  • 51. NEWS 52 LINK abertis JULY 2013 The abertis foundation and aber- tis autopistas, along with the Department of SocialWelfare and Family of the Government of Catalonia,Cruz Roja, Institut Guttman, ONCE and Federació Ecom, have started up the We break down barriersinitiative,which givesVía-T devices free to drivers with some disability,to offer this group maximum facilities on their way along the toll roads. Drivers with some disability registered on this initiative can receive aVía-T device absolutelyfreeandunderspecialconditions, such as a very low maintenance payment. Vía-Tisatollsystemusedontollroads to pay for trips without having to stop the vehicle,asadeviceplacedinsidethecarand anotherelectronicreaderatthetollstations enablethesafetybarriertobeautomatically abertisgivesVía-T todisabled drivers ABERTIS FOUNDATION Disabled drivers with driving licence in force and disabled cards from the Department of SocialWelfare and Family of the Government of Catalonia can have aVía-T e-toll device free with special conditions TEXT AND PHOTOS abertis opened.Vía-Talsooffersaccesstoexclusive discount programs. This initiative,which is encouraged by abertisautopistas and the abertisfoun- dation,is a pioneer in Catalonia and Spain. In its first phase, the campaign was devel- oped in Catalonia. THIS INITIATIVE, WHICH IS DRIVEN BY ABERTIS AUTOPISTAS AND THE ABERTIS FOUNDATION, IS A PIONEER IN CATALONIA AND SPAIN
  • 52. JULY 2013 LINK abertis 53 Toaddtothisinitiative,disableddrivers must have a driving licence and their disa- bled card from the Department of Social WelfareandFamily(withadisabilityof33% or more and reduced mobility). Thesponsors This initiative is a further sign of abertis’ commitment to society through the aber- tisfoundation,throughitscorporatesocial responsibility policies.The collaborations withthepublicadministrationsofcountries where it is present are continuous in order to work day-by-day to make the infrastruc- tures it manages more accessible. In this sense,the commitment to society is a sign of abertis’ involvement in the community andthesocialfabricitestablishesinitsSocial Responsibility Strategic Plan. DepartmentofSocialWelfare andFamily TheDepartmentofSocialWelfareandFamily deals with processing,managing and issuing the disability card.Since last year,in order to speedupandextenditsuse,thedepartment automatically has issued the card to persons recognised a disability of 33% or more. The disability card is a public,personal and non-transferable document. It allows people with a legally recognised disability and habitual residence in Catalonia to quickly and practically certify their degree of disability. The card,aside from being an element of certification,also gives access to certain advantages and benefits in the areas of mobility,culture,sport,leisureandfreetime in order to improve the quality of life of people with some disability. This initiative is also supported by Cruz Roja,InstitutGuttman,ONCEandFederació Ecom. Disabled drivers with driving licences and disabled cards will benefit from more fluid toll road circulation. WITH THE COLLABORATION OF THE GOVERNMENT OF CATALONIA, THE RED CROSS, INSTITUT GUTTMAN, ONCE AND FEDERACIÓ ECOM
  • 53. NEWS 54 LINK abertis JULY 2013 abertis in June presented the plan for rehabilitating and restoring the Mèdolquarry,whichimpliesthepreservation and archaeological and geological improve- ment of the former stone extraction area from Roman times.The multidisciplinary projectisdevelopedby abertisautopistas España and the abertis foundation, and receives the collaboration of the Ministry of PublicWorks,the Ministry of Culture,the Government of Catalonia, the Regional Government of Tarragona,Tarragona City Hall andAreas. ThepresentationwasattendedbyJosep Lluís Giménez,general manager of abertis autopistas España;Sergi Loughney,direc- toroftheabertisfoundation;JosepManel Ricart, vice-rector of that research of the Universitat Rovira i Virgili; Carme Crespo, Deputy Mayor for Culture, Heritage and FestivalsofTarragonaCityHall;AlbertVallvé, First Deputy President of the Tarragona Regional Council; Jordi Agràs, Director of Territorial Services of the Department of Culture of the Government of Catalonia; José María Cacho, representative of the abertispresentsthe projectfor rehabilitating the Mèdol quarry ABERTIS FOUNDATION The initiative implies the preservation and archaeological and geological improvement of the former Roman stone extraction area TEXT abertisPHOTOS MiquelGonzález Demarcation of State Roads in Catalonia (Ministry of Public works); and JoanAlbert Adell, the architect behind the project. The project is developed in two areas: andinterventioninthequarryusingarchae- ological prospecting in an area of el Clot, and the creation of an interpretation space in the service area and organisation of the areainamuseumdisplayedtofacilitatethe visit and,by means of an informative expla- nation,to reveal the functions of the mon- ument and its historical and environmental wealth. This project involves a total planned investment by abertis of 1.5 million euros, and is expected to be completed in the autumn of 2013. Siteevolution The archaeological work carried out by the InstitutCatalàd’ArqueologiaClàssica(ICAC) was done in strategic places to study the evolution of the site and to understand the operationoftheuseoftheoriginalcomplex. The prospecting will continue until the original level of the ground is known. From left to right.: Carme Crespo, Josep Lluís Giménez and Josep Manel Ricart.
  • 54. JULY 2013 LINK abertis 55 These actions are also carried out in the area revealed by the fire in July 2010, which burnt a large area around the Mèdol andbroughtoutnewzonesasyetunknown, whereclearevidenceofthestoneextraction was preserved.Once cleaned and explored, this area will be brought into the route of the tour of the monument. In order to make a visit to the complex easier still,a new museum area will be cre- atedthatwillincludeadidacticexplanation of the history of the quarry and its archae- ological significance.Alongside the service area on the AP-7, an interpretation centre willbebuiltwitharchaeologicalinformation onthemonument.Differentrouteswillalso be developed for exploring the quarry. Thisareawillbeusedtoexplaintheuse ofthewholeoftheRomanquarry:thewhole processofextractingthestoneuntilitsfinal use in outstanding monuments in Tarraco, the tools used,the extraction and transport inscriptions.The stone was taken to the city by theVíaAugusta, which partly coincides with the route of the presentAP-7 toll road, or by sea. As a result of its commitment to the community and to culture, abertis pre- serveditandopenedittothepublicthrough an agreement with the Department of Cul- ture of the Government of Catalonia and Tarragona City Hall.The monument forms part of the cultural routes ofTarragona His- tory Museum. ThequarryisaccessiblefromtheMèdol southbound service area on the AP-7, and from the N-340 highway. Above, archaeological prospecting. Below, the future appearance of the interpretation centre alongside the neighbouring service area on the AP-7. THE PROJECT SUPPOSES A TOTAL INVESTMENT OF 1.5 MILLION EUROS AND IS EXPECTED TO BE READY IN AUTUMN techniques, the relationship with other Roman quarries,etc.The museographic dis- course stresses the development of Roman Tarraco through the quarry.At the end of the rehabilitation and museum develop- ment,andexhaustivemaintenanceprogram will be run with the results of the archaeo- logical research. As a sign of its commitment to educa- tion and culture, the abertis foundation plans to set up the place and the different materials produced for schools from an educational viewpoint. TheMèdolquarry The Mèdol Roman quarry, which covered anareaof11hectares,isoneofthethirteen monuments of the RomanTarragona archi- tectural complex considered Unesco Herit- age of Mankind.The stone taken from the Mèdolwasusedtobuildthemostimportant buildingsinTarraco,thecapitalofCistercian Hispania during the time of the Republic and the Roman Empire. The stone was used to erect monu- mentsstillpresenttoday,likethewalls(from between the 3rd and 2nd centuries bc),the amphitheatre (from the 2nd century AD) and the circus or Provincial Forum of Tar- ragona (from the 1st century AD).Among thecity’smonuments,theMèdolstonewas also used for sculpture,altars and different
  • 55. NEWS 56 LINK abertis JULY 2013 Contributing to the exceptional nature of the show are loans from other top insti- tutions, such as MoMA in New York, the Philadelphia Museum ofArt,theTate Mod- ern and the Royal FineArts Museum in Bel- gium. RecordnumberofvisitorsinMadrid In its first week at the Reina Sofía, nearly 16,000 people visited the exhibition,which makes it one of the most widely attended in the history of the art centre.Thirty of the two hundred works on show are seen for the first time in Spain,such as Thebathers, granted by the St.Petersburg Museum,The persistence of memory, from the MoMA, and Hallucination:six images of Lenin on a piano, from the Centre Pompidou in Paris. The tour of the show, divided into eleven sections,starts with the works from Dalí’searlyperiodandelementsthatmarked his childhood,such as family,and ends with the sections devoted to Surrealism after 1938,America,The secret life of Salvador Dalí and The aesthetic enigma. From his The Reina Sofía NationalArt Centre in Madrid for the first time gathers a large retrospective exhibition of Salvador Dalí’sartisticlegacy.Sponsoredbythe aber- tis foundation and under the title of Dalí. All poetic suggestions and all plastic possi- bilities, the show presents more than two hundredpiecesbetweenpaintings,sculptures and drawings.It also presents a Dalí pioneer of performance and happening, author of ephemeralworksandhisparticipationinthe world of photography,theatre and cinema. The exhibition lands in Madrid from the Centre Pompidou in Paris,where it was also sponsored by the abertisfoundation and through which more than 790,000 visitors passed over four months. The work of the painter from the Emporda,whichwillbeonshowtothepub- licuntil2September,forthefirsttimegath- ers works from three depositories of his legacy: the Fundació Gala-Salvador Dalí in Figueres, the Salvador Dalí Museum in St.Petersburg (Florida) and the Reina Sofía Museum in Madrid. The Reina Sofía Museum opens its doors to Dalí ABERTIS FOUNDATION The abertis foundation sponsors the large retrospective display on the maximum exponent of surrealism, which comes to Madrid after its times at the Centre Pompidou in Paris — 1 — Opening of the exhibition in the Reina Sofía. — 2 — Soft construction with boiled beans, 1936. — 3 — The great masturbator, 1929. — 4 — Queen Sofía on her arrival at the exhibition, received by the president of abertis, Salvador Alemany, and the CEO, Francisco Reynés. — 5 — The exhibition displays more than two hundred pieces between paintings, sculptures and drawings. — 6 — Salvador Dalí, in his surrealist period. 1
  • 56. JULY 2013 LINK abertis 57 whole artistic biography, the works of his surrealist period stand out, in which the geniusdevelopedhisparanoiac-criticalwork as the maximum interpreter of Freud and with works such as The great masturbator, Thepersistenceofmemory,WilliamTell and ThespectreofSex-Appeal.Thelasttwosec- tions are devoted to the decors and cos- tumes he designed for theatre, and the exploration from his fascination for science and visual techniques such as holography and stereoscopy. His last work is also dis- played, The Swallowtail (1983). The Reina Sofía presents more than two hundred works that reveal Dalí’s per- sonality and his onyrical world full of alle- gories, which can be seen in Madrid until the coming 2 September. Othercollaborations oftheabertisfoundation Both the abertis group and the abertis foundation permanently collaborate with the main cultural institutions of all the ter- ritories where the company operates, and particularly: Museo del Prado, Gran Teatre del Liceu, Teatro Real de Madrid, Museu Nacional d’Art de Catalunya (MNAC), Fundació Orfeó Català-Palau de la Música,Teatre Nacional de Catalunya (TNC), L’Auditori and the Orquesta Sinfónica de Barcelona y Nacional de Cat- alunya (OBC), Fundación Francisco Godia, Museu d’Art Contemporani de Barcelona (MACBA) and musical festivals such as the Castell de Peralada and Jardins de Cap Roig. Links: abertis foundation: 32 5 4 6
  • 57. NEWS 58 LINK abertis JULY 2013 To make those enjoying the night do so aware of the fatal consequences ofanirresponsibleaction,the abertisfoun- dation presented a road safety action in the busiest areas of night life in Madrid and Barcelona.InMayagroupofvolunteerswith spinal cord injury as a result of traffic acci- dents alerted to the effects of driving under theeffectsofalcohol,drugsanddistractions at the wheel. The institutional presentation took place on the past 17 May in Barcelona and Madrid.The first was attended by the pres- ident of abertis and the abertis founda- tion Salvador Alemany, the first deputy mayor of Barcelona City Hall Joaquim Forn, and representatives of collaborators such as the Red Cross Catalonia, Institut Gutt- mann, Club Joventut Badalona and Regal Barça UNES. Salvador Alemany publicly praisedthevolunteerstakingpart,highlight- ing that“one of the priorities of theabertis foundation is road safety”and mentioned other initiatives aimed at minors and driv- ers over 65 also carried out by the founda- tion.The Madrid events was attended by Newcampaignfor responsible driving ABERTIS FOUNDATION The abertis foundation promotes a driver awareness-raising initiative in the busiest areas of night life in Madrid and Barcelona, in collaboration with both city halls TEXT AND PHOTOS abertis the MayoressAna Botella,the director gen- eral of the DGT traffic service María Seguí, the director of the abertis foundation, Sergi Loughney,and members of the Span- ish Red Cross and the Fundación ONCE. Theactionpresentedasapilottrialwas supported by the city halls of both places and volunteers from the Red Cross, Fun- dación ONCE, Institut Guttmann and the adapted sports teams of the Club Joventut Badalona and Regal Barça UNES.The vol- unteers handed out flyers and talked with people coming out of parties and disco- thequesinordertosensitisethemtorespon- sible driving.The chief of the urban police explained that on the night of the initiative, 117 police alcohol checks were performed of which only eight were positive. ‘Youhaveonelifeleft’ The abertis foundation drove the project aware of society’s need to become more aware of the risks of acting irresponsibly when going out at night.This is an action of the extensive Road Safety Program carries out by the abertis foundation since 2003 Meetings between volunteers and young people coming out of parties and discotheques to encourage them to drive responsibly.
  • 58. Link JULY 2013 LINK abertis 59 and which includes the promotion of inves- tigations,theorganisationofscientificmeet- ings,road education in schools and aware- ness-raising campaigns. This action spe- cificallyformspartoftheawareness-raising campaign You have one life left, launched in 2009 for young people from 18 to 30. one of the main international mobility and transport infrastructure management groups. The abertis foundation looks for the right partners for each project,always with the support of the public administrations which are those that manage road safety policies. The foundation is one of the corporate social responsibility responses of abertis, Institutional campaign presentation You have one life left, in Barcelona.
  • 59. 60 LINK abertis JULY 2013 From left to right: the sub-director of Expansión, Martí Saballs; the CEO of abertis, Francisco Reynés and; the partner responsible for KPMG in Catalonia, Balearic Islands and Andorra, Fernando Serrate. BRIEFS Theministerofpublicworks,AnaPas- tor,the Catalanminister for territory and sustainability, SantiVila, and the CEO of abertis,Francisco Reynés,in June signed TheCEOofabertis,FranciscoReynés, assured in a breakfast organised by KPMG and Expansión that the company’s growth will depend on the United States, Canada,MexicoandColombia,becausethese arethecountriesofAmericathatoffergreat- Discount for heavy vehicles on theAP-7 abertis defines its growth strategy TOLL ROADS INTERNATIONALISATION an agreement by which discounts were offered for certain heavy vehicles using the AP-7 between Maçanet de la Selva and La Jonquera. estlegalsecurity.However,FranciscoReynés discardedgoingintoChinaforthetimebeing. Healsoannouncedthatabertishoped toreachanagreementwiththegovernment in the next summer to purchase 25% of the Hispasat satellite operator. Fromlefttoright.: SantiVila,AnaPastor andFranciscoReynés.
  • 60. For the second consecutive year,the Fundació Catalana Síndrome de Down,the abertis foundation and Barce- lona City Hall signed a collaboration agree- ment for the RoadCooperatorproject.This initiativeisintendedtooccupationallyinte- grate the young intellectually disabled and to improve mobility around schools. Trainingandexperience With this agreement, eight youngsters of between 20 and 25 with Down’s Syndrome or other intellectual disabilities worked around four schools in the Sarrià-Sant Gervasi district on that job that will give them training and practical experience to be able to be brought into the working world. Apartfromthetwoschoolsalreadytak- ingpartlastyear(DolorsMonserdàandSagrat Cor-Sarrià),thisyeartheinitiativehasbrought in the Lys and Poeta Foix schools. Theroadeducationproject is extended in schools ABERTIS FOUNDATION The road education initiative giving work to youngsters with Down’s Syndrome is extended to four schools in Barcelona TEXT AND PHOTOS abertis The work of a road cooperator consists of observing and collecting information on driver and pedestrian habits when schools open and close to analyse the information with the school and pupils in order to pro- mote good mobility practices. JULY 2013 LINK abertis 61 The information gathered by each road cooperator enables good transport practices to be promoted. Hispasat presented the latest of its satellite telecommunications on the RadioTV Forum 2013 held in Rome. Hispasat was present at the event, held in May, for the first time, along with the principal European radio, television and Internet operators, and audio-visual companies taking part in the congress. Consolidated presence Hispasat thus continues to consolidate its position in Europe,America and other strategic regions.The RadioTV Forum is the most important annual forum in telecommunications in Italy. It brings together the principal operators to analyse the evolution of the sector and to present the latest market developments in telecommunications services. Hispasat,on ‘RadioTV Forum’ TELECOMMUNICATIONS Malaga Regional Council has adjudi- catedabertistelecom,thetelecom- munications infrastructure operator of the abertis group,the project to extend broad- bandtogivetechnologicalcoveragetomore than80,000inhabitantsoftheruralsurround- ingsofMalaga.Thenewproject,whichiscalled Ágora,hasthesupportandjointfinancingof theEuropeanUnionandwillfocusoncentres ofpopulationwithunder25,000inhabitants. Ágora, which in December was adjudi- cated to abertis telecom for three years, hasabudgetof1.62millioneurosandatime of six months from starting, on 15 January. The technology deployment that abertis telecom will carry out will allow intercon- nection with a symmetrical transmission capacity of 20Mbps for the councils of 88 municipalities of Malaga with the regional council’s central services. TELECOMMUNICATIONS abertis telecom adjudicated the Ágora project in Malaga The broadband coverage will be extendedto161quartersandwillspreadto morethan700companies,whichwillenable the creation of new business models while promoting exports and contributing to the development of the local economies.
  • 61. 62 LINK abertis JULY 2013 The CEO of abertis, Francisco Reynés, collects a commemorative plate of his attendance at the forum. BRIEFS abertisinthepastmonthofMaytook part in theArekuna Forum in Madrid, a meeting place for discussion formed by the principal press groups and outstanding national, regional and economic radio and televisionjournalists,newsagenciesandon- line publications.Each edition of the meet- ing receives different representatives from the political and business world. On this occasion, abertis was the guest company represented by its CEO, Francisco Reynés. In recent years,theArekuna Forum has welcomed the main players of business and economic activity,such as the former presi- dent of the government of Catalonia, Jordi Pujol, the Spanish Prime Minister Mariano RajoyandtheformerDeputyPrimeMinister The Club of Rome, a Mediterranean forumofdiscussion,hasopeneditsfirst centre in Barcelona in addition to that which the organisation has in the city ofWinterthur in Switzerland.The Palau Macaya on Passeig deSantJoaninBarcelona,willbethemodern- ist building of“la Caixa”social welfare which willhousetheheadquartersofthisdiscussion forum,supportedeconomicallybyabertis,Gas NaturalandAgbar. abertis,in theArekuna Forum The Club of Rome opens a centre in Barcelona BUSINESS PRESTIGE SPONSORSHIP Under the motto ofWeaving values, on14Maytheprizewasgivenforthe fifth edition of Factor Humà, which has become a benchmark in the area of human resourcemanagementinCataloniaandSpain. The jury was made up of the president of abertis,SalvadorAlemany,aswellasManel Adell, Manuel de Castillo, Cristóbal Colón, JosepLagares,JaumePagèsandNarcísSerra. In this edition, the Catalan company Softonic,theworldleadingon-lineguideon softwarewasawardedwiththeFactorHumà Mercè Sala 2013 Prize.The jury considered that the business project stands out for the fourvaluesthatidentifiedMercèSala:inno- SalvadorAlemany,juryfortheFactorHumàAward HUMAN RESOURCES vation,pragmatism,globalviewandhuman- ity.The ESADE teacher and academic direc- toroftheLeadershipandDemocraticGovern- ance Chair, Àngel Castiñeira, gave a talk inspired by the theme of this edition. One year more,the Factor Humà Prize managed to bring together important economic and social leaders to stress the organisations’ commitment to the value of people. Duringtheprize-giving,theFactorHumà manifesto was presented, a declaration by theorganisationsformingtheFundacióFac- tor Humà in which they express their will to playanethicalandresponsibleroleasagents of progress and well-being. Founded in 1968,the Club of Rome is a non-profitmakingnon-governmentalorgani- sationformedbyeconomists,scientists,busi- nesspeopleandprofessionalsfromaroundthe world,theaimofwhichistoencouragediscus- sion and knowledge of the problems of the MediterraneanandMiddleEast,inadditionto givingsolutionstoproblemssuchasthebreech betweenthecountriesofthenorthandsouth andtheconsumptionofnaturalresources. María Teresa Fernández de la Vega. In the business area, particularly the president of Mediapro, Jaume Roures, or the Chairman of Repsol,Antonio Brufau.
  • 62. JULY 2013 LINK abertis 63 From left to right.: Miguel Delgado, Montserrat Fernández, Salvador Alemany and Ignasi Rodríguez. abertis in April took part in the MediosOn Forum of ConnectedTel- evisions, in which different media and manufacturers of smart supports took part. The forum was held with an open format in whichexpertsanswered25questionsasked by media professionals.They all answered that new applications are arising in the area ofconnectedtelevisionswhichwillgenerate new business models, while supposing a new drive for the contents industry. The form also showed that the future solution will lie in pay-to-view models for certain contents, an approach on which Xavier Redón,fromabertis;FernandoGarcía,sales managerofYumeandFranciscoAsensi,from RTVEallagreed.TheForoMediosOn25ques- tions and 25 answers about connected tel- evisionsisorganisedeveryquartertoprovide the media with a space in which to reflect and share experiences on the most current questions and new trends in the world of digital media. The MediosOn forum starts a pay-to-view connectedTV TELECOMMUNICATIONS TheCastelletCastle,theheadquarters of the abertis foundation,from 13 to 15 June hosted the first meeting of the CouncilofManagersandtheScientificCoun- cil of the Spanish Committee of the Unesco MAB (ManandtheBiosphere)program. Forthreedays,theparticipantsdiscussed the management of the biosphere reserves in Spain. The abertis foundation,in collabora- tion with the Ministry of the Environment, puts forwardAthe candidature of Castellet CastleastheUnescoheadquartersforMedi- terranean biosphere reserves. The opening event was attended by the president of abertis and the abertis foundation, SalvadorAlemany, the assist- ant manageress of the Autonomous Body for National Parks, Montserrat Fernández, ENVIRONMENT The biosphere under discussion at Castellet Castle abertis will collaborate in financing the construction of the new head- quartersoftheCataloniaGuildofEconomists inplazaGal·laPlacídiainBarcelona,andthus becomeapatronoftheinstitution.Theagree- ment has been signed by the abertis group president, SalvadorAlemany, and the dean of the Col·legi d’Economistes,Joan B.Casas. abertis thus shows its commitment to the PATRONAGE abertis collaborates in the new headquarters of the Guild of Economists social,cultural and economic institutions of Cataloniabycontributingtoitsdevelopment. The agreement came as part of the patronage plan being carried out by the Col·legid’EconomistesdeCatalunya,inorder tobringinandinvolvetheprofessionaloffices and Catalan economists in the institution and also to seek the complicity of the com- panies and institutions of Catalonia. the assistant general manager for biodiver- sity of the Government of Catalonia, Ignasi Rodríguez, and the Mayor of Castellet and president of the Consorci del Parc del Foix, Miguel Delgado.
  • 63. BRIEFS 64 LINK abertis JULY 2013 The abertis foundation has devel- oped an informative campaign on the beaches of Barcelona and the Llobregat coastline to promote their good use and respect of the environment. From July to September,a group of young people at risk of social exclusion from the Fundació el LlindarhandedoutleafletsandT-shirtswith environmentaladviceandaccompaniedthe team of environmental promoters on the beaches of the Catalan coastline.The vol- unteers were previously trained by the councils involved in the project. The general manager of abertis telecom,Tobías Martínez,took part in the Fòrum de la Comunicació de Cat- alunya in June at the Palau Robert.This was also attended by the marketing manager of abertis telecom, Àlex Mestre, and the president of the Consell Audiovisual de Catalunya (CAC), Roger Loppacher. The speakers all called for a connected televi- sion with an open standard to allow televi- sion providers to benefit from the Internet connection.According toTobías Martínez, the forecasts indicate that in 2016 and there will be 244 million connected televi- sions in the world. Environmental action on the beaches Communication Forum ENVIRONMENT TELECOMMUNICATIONS The general manager of abertis telecom, Tobías Martínez, in his talk. abertis was one of the sponsors of Bolsalia,whichinJunebroughttogether themainexpertstoanalysetheSpanishstock marketandallofthefinancialmarkets,aswell asthetechnicalsituationoftheprincipalstock marketindexes.Thenewdevelopmentinthis edition2013wastheforumonInternetSecu- rity,which dealt with questions such as reli- abilityinon-linefinancialtransactionsorthe client’sperceptionwhenoperatingontheweb sitesofthefinancialinstitutions,withpracti- cal cases such as that of Banco Popular or BBVA.The forum also discussed new invest- mentscenarios,prognosesweremadeonthe second half of the year in the Spanish stock market,technicalanalysesweremadeforretail clients and new investment scenarios were considered. Onthe20thanniversaryofitscreation, the Sifu group,a service company for social and labour insertion of the disabled, distinguished abertis,Boehringer Ingelheim and Endesa in recognition of their work and involvement in this field. Bolsalia Forum Prize to labour insertion INVESTMENT BUSINESS PRESTIGE In its two decades of his- tory,Sifuhasgivenworktomore than 10,000 disabled people aroundSpain,whichhasbeenpossiblethanks tocompaniesthathavecontributedtotaking on such people.
  • 64. JULY 2013 LINK abertis 65 INVESTOR’S RESULTS 66 abertis recurrent net profit grew by 12% in the first quarter of 2013 Improvement in the debt structure abertis issues bonds at the lowest interest in its history
  • 65. 66 LINK abertis JULY 2013 Results January-March 2013 abertis’ recurrent net profit grows 12% in the first quarter of 2013 to 125 million euros TEXT AND PHOTOS abertis INVESTOR’S LINK
  • 66. JULY 2013 LINK abertis 67 abertis in the first quarter of 2013 maintained increasing results in all of its main figures, with improvements in revenue(+29%),Ebitda (+23%) and recur- rent net result (+12%), standing out in a period marked by the consolidation by glo- bal integration of the new concessions in BrazilandChile,whichtogetherbringin244 million in Group consolidated revenue. In this sense, the results of the first quarter are affected by the changes in the perimeter with respect to the same period ofthepreviousyear,whichmakesitdifficult to compare them.The incorporation of new businessesinBrazilandChilecomesinaddi- tiontotheeffectoftheextraordinaryresults derived from the sale of the participation in Eutelsat in the first quarter of 2012 and 2013.The Group’s total net result lies at 141millioneuros.Withoutconsideringthese extraordinary contributions, the recurrent result reaches 125 million (+12%). Theincorporationbyglobalintegration in the consolidation perimeter of the new concessions in Brazil and Chile is another outstandingaspectoftheresultsofthefirst quarter, as they drive the Group’s interna- tionalisation and significantly reduce its THE NEW CONCESSIONS IN BRAZIL AND CHILE DRIVE THE GROUP’S INTERNATIONALISATION AND REDUCE ITS DEPENDENCE ON MARKETS MORE EXPOSED TO THE CRISIS 244million euros brought into the revenue of the first quarter by the incorporation of the new concessions in Brazil and Chile. 125million euros, recurrent total net result (+12%).
  • 67. 68 LINK abertis JULY 2013 INVESTMENTS AMOUNT TO 145 MILLION EUROS, OF WHICH 125 MILLION WERE PUT INTO EXPANSION AND 19 MILLION INTO OPERATING INVESTMENTS Debtandinvestments abertis’ net debt fell in the first quarter to 13,753 million euros, with a reduction of 380 million euros (-2.7%) over the close of 2012. Of all of the debt, 61% was consti- tuted with guarantee by the projects them- selves (without recourse).93% of the debt is long-term debt and 75% at fixed interest. The average cost of the debt is 5.11% and the average maturity is at six years. The Group’s investments in the period amount to 145 million euros,of which 125 million went into expansion and 19 million into operating investments.The principal expansion projects of the period are those relatedtotheintroductionofimprovements of the paquet vert in the French network (17 million), the improvements and con- struction of new tracks in Brazil (81 million) and those related to the development of theHispasatAmazonas4satellite(5million). DevelopmentoftheGroup’s businesses abertis’ toll road business brought in 954 billion euros in revenues (83%) and 599 billion euros in Ebitda (89%).The traffic in the whole of theabertis toll roads network in the first quarter reflects a comparable Mean Daily Intensity of 18,890 vehicles (+0.8%).The period is marked by the nega- tiveevolutionofthetrafficinFrance(-2.1%) and Spain (-8.4%),and by the positive lev- els on toll roads in Brazil (+4.4%) and Chile (+8.2%). The telecommunications business closes the first quarter with revenue of 125 million euros and an Ebitda of 64 million euros.In the land area,the telecommunica- tions figures include the income derived fromthestart-upofthenewmobileteleph- ony tower management business. In the satellitearea,itincludesalargerproportional contribution by Hispasat due to the par- ticipation increased to 40.6%. The airport activity achieved revenue of 65 million euros and an Ebitda of 15 mil- lion euros, in both cases in line with the figures for the same period last year. AgreementsoftheBoard ofDirectors In accordance with the agreements reached by the GeneralAssembly of Share- holders regarding the modification of certain articles of the bylaws and the Board Regulation, abertis, and by agreement of the Board of Directors proceeded to appoint two new members in theAuditing and Control Commission, JoséA.Torre de dependence on markets more exposed to the crisis such as Spain and France. In this sense,65%oftheGroup’srevenueand60% of its Ebitda were produced outside Spain in this time. Incomestatement abertis’operatingrevenueinthefirstquar- ter of the year amounted to 1,145 million euros,29% up on the same period last year, driven by the contribution of the new busi- nesses in Brazil and Chile. Of all of the income,83% is produced in the toll roads activity,whereas 11% cor- responds to the sector of telecommunica- tions and 6% to airports. The operating expenses also increased in the period due to the effect of the new businesses, up to 470 million euros. The gross operating profit (Ebitda) reached 675 million euros (+23%),60% of which is generated outside Spain.Without bearing in mind the effect of the new busi- nessesandthosederivedfromotherincom- parable expenditure, the recurrent Ebitda remained flat with respect to the previous year. PROFIT AND LOSS ACCOUNT AND BALANCE SHEET ProfitandlossaccountJanuary-March2013 M₧ MAR2013 MAR2012 VAR Operatingincome 1,145 888 29% Operatingcosts -470 -341 38% Ebitda 675 547 23% Provisionfordepreciation -307 +236 30% Operatingresults 368 311 18% Eutelsatcapital-gainsresults 20 409 Financialresult -191 -157 Equitymethodresult 12 26 Companytax -48 -61 Minorityinterests -20 -10 Totalnetprofit 141 517 -73% Totalnetrecurringprofit 125 112 12% BALANCEJANUARY-MARCH2013 (M€) MAR 2013 MAR 2012 Tangible and intangible fixed assets 21,130 21,090 Financial assets 4,175 4,192 Current assets 1,335 1,423 Cash and banks 2,810 2,382 TOTAL ASSETS 29,449 29,087 Equity 7,015 6,961 Non-current financial debt 15,352 15,478 Non-current liabilities 3,812 3,786 Current financial debt 1,210 1,034 Current liabilities 2,060 1,828 TOTAL LIABILITIES 29,449 29,087
  • 68. JULY 2013 LINK abertis 69 FOR THE FIRST TIME IN THE COMPANY’S HISTORY, THE OPERATING REVENUE EXCEEDS 4,000 MILLION EUROS, 3% UP ON 2011 The capital gains for the sale of Eutel- sat and Brisa bring the Group’s net profit in this period to 1.024 billion euros (+42%). Without considering these extraordinary contributions, the recurrent result reaches 613 million (+2%). Incomestatement The operating revenue of abertis in 2012 exceeds 4,000 million euros for the first time in the company’s history, 3% up on lastyear,supposingthat55%oftherevenue was produced outside Spain, mainly from France,Brazil,ChileandtheUnitedKingdom. Of all of the income,80% is produced inthetollroadactivity,whereas12%corres- ponds to the sector of telecommunications and 8% to airports.The operating expenses, for their part, increased by 8% to 1,580 millionEuros,duetothenon-recurrentcosts related to the adaptation of the company structures to domestic demand. Thegrossoperatingprofit(Ebitda)rea- ched 2,459 million euros (+0.2%), 52% of which is generated outside Spain.Without taking into account the effect of non-recu- rringcosts,comparableEbitdareaches2,504 billion euros – up 2%. Silva López de Letona representingThéâ- tre Directorship Services Gama, Sàrl, and Tomás García Madrid representing OHL Emisiones, SAU. At the same time,it appointed Mónica López-Monís Gallego member of the AppointmentsandRetributionsCommission intheplaceofMiguelÁngelGutiérrezMén- dez, the current chairman of the Auditing and Control Commission. Operating income: 1,145 billion euros (+29%). Ebitda: 675 billion euros (+23.4%). Total net recurring profit: 125 billion euros (+12%). Net debt: 13,753 billion euros (+2.7%). The income statement of the period for thefirsttimeincludestheglobalintegration of the new Group concessions in Brazil and Chile. The new concessions in Brazil and Chile bring 244 million euros into the revenue of the first quarter. The Group’s total net result lies at 141 million euros, whereas the recurrent result reaches 125 million (+12%). The Group’s efficiency program, which will be developed until 2014, continues to produce accumulated savings. Thefiguresfor2012 With respect to the results for 2012, aber- tiscontinuedtoriseinallofitsmainfigures, with improved revenue (+3%), recurrent Ebitda (+2%) and recurrent net result (+2%), standing out in a year in which the evolution of the group’s toll road traffic in Spain and France remained negative. With effect on accounts from 1 Dec- ember, the group’s results incorporate the arteris toll road concessions purchased from OHL in Brazil, and therefore only one monthhasbeenconsolidatedinthegroup’s income statement in 2012.The year results also include the capital gains for the sale of Eutelsat by the accelerated placement of 16%inJanuaryamongstqualifiedinvestors and the agreement with China Investment Corporation (CIC) for the sale of an addi- tional 7% in June. Similarly, the accounts also include capital gains for theAugust sale of the par- ticipation in Brisa, as well as the provision of several cost items intended to adapt company structures to domestic demand and certain asset value adjustments in the airport business. 55%of the revenue was produced outside Spain in 2012, mainly from France, Brazil, Chile and the United Kingdom. 4,000million euros, operating revenue (+3%) in 2012. INCOME STATEMENT 2012 ProfitandlossaccountJanuary-March2013 M₧ DEC2012 DEC2011 VAR Operatingincome 4,039 3,915 3.2% Operatingcosts -1,580 -1,461 8.1% Ebitda 2,459 2,454 0.2% Provisionfordepreciation -1,169 -935 14.8% Operatingresults 1,290 1,517 -15% Financialresult -177 -617 Equitymethodresult 63 125 Companytax -93 -250 Minorityinterests -59 -74 Companyreorganisationresult 0 19 Resultforcompanyshareholders 1,024 720 42.3% Recurringresultforcompanyshareholders 125 112 2%
  • 69. OPERATING IN- COME 2012 80% 8% 12%The graphs show the development of the abertis group’s businesses over the past five financial years. 2008 75% 12% 8% 4% 1% TOLL ROAD TELECOMMUNICATIONS AIRPORTS CAR PARKS LOGISTICS PARKS 70 LINK abertis JULY 2013 In 2012, abertis has culminated a periodofthreeyearsthathasallowed it to double its size in terms of the number of concessions and kilometres of toll road it manages, as well as promoting its inter- nationalactivity.Thecompanyinthisperiod has focused on selective growth and on focusing the businesses in which the group can develop an industrial role and give greater value to shareholders. The president ofabertis,SalvadorAle- many,informed theAssembly of the impor- tance of the work done in recent years and the group’s deep transformation since it appeared 10 years ago through the merger of acesa and áurea. According to Salvador Alemany, “abertis has multiplied its main numbers by four and, after intensifying the interna- tionalization process and focusing the busi- nesses in the last few financial years,it has achieved world leadership in the toll roads sector,maintaining its profile as a transport and telecommunications infrastructures operator”. The company’s CEO,Francisco Reynés, highlighted that “in recent years we have worked to achieve a more international and more lasting company with the exten- sion of concession times, one that is more profitable and financially solid, while gen- erating greater value for its shareholders. And I believe we have managed to achieve thesemilestoneswiththerightcombination of growth, portfolio optimisation through the sale of financial participations and effi- cient management of the businesses and the balance”. GeneralShareholders' Meeting2013 abertis has quadrupled its main figures since it was created “ABERTIS IN 2012 ACHIEVED ONE OF THE GREATEST MILESTONES OF ITS HISTORY WITH WORLD LEADERSHIP IN THE TOLL TOLL ROAD SECTOR”, FRANCISCO REYNÉS SAID TEXT AND PHOTOS abertis Yearbalance2012 With respect to the year’s evolution, the president of abertis, Salvador Alemany, indicated that“2012 has been a transform- ing leap for the company.With the incor- poration of the assets in Brazil and Chile, abertis has increased its financial numbers by almost 25%, allowing it to definitively consolidate an even more global business project with 18,000 people working on it”. In the same sense, the company CEO, Francisco Reynés,stressed that“abertis in 2012hasachievedoneofthegreatestmile- stones of its history with world leadership in the toll roads sector”.According to the CEO,“with the close of the operations to purchase OHL assets in Brazil and Chile, abertis has continued with its policy of increasing and rotating its portfolio and has achievedgreaterinternationaldiversification of its asset base”. abertis closed the financial year with a net global profit of 1.024 billion euros and acomparablenetprofitof613millioneuros, 2% higher than in the previous financial year.Likewise,Francisco Reynés said,“It has INVESTOR’S LINK improved the revenue over last year,which exceeded 4,000 million euros for the first timeinthecompany’shistory”.Additionally, he indicated, the company has continued toworkhardtomanageandcontainexpend- iture through an ambitious efficiency plan. Francisco Reynés also referred to the company’s growth,which received a strong drive in 2012 “with important operations such as the incorporation of the toll road concessions in Brazil and Chile and the increasedparticipationinHispasat–tomore than 40% of the capital– and the purchase fromTelefónica of 1,000 mobile telephony towersfor90millioneuros”.Healsostressed the agreement achieved with the Govern- ment of Catalonia over the concession and management of the Túnel del Cadí and Túnels deVallvidrera for 25 years. Efficientlydoublingthecompany In his talk to the shareholders, the CEO of abertis stressed the work done in re- cent years based “on selective growth and focusing on businesses in which the group can develop an industrial role and give greater value to shareholders. Since 2009 –said Francisco Reynés–, the com- pany has doubled the number of conces- sions and kilometres that it manages, from 3,700 to more than 7,300”. Francisco Reynés mentioned that in recent years, abertis has disinvested in non-strategic assets to a value of 3,000 million euros (Atlantia, Brisa, Eutelsat, Saba) and investments for a value of over 3,200 million (arteris, metropis- tas, Hispasat, amongst others). In 2012
  • 70. JULY 2013 LINK abertis 71 alone, the sale of non-strategic assets produced a cash flow of 1,700 million euros, with capital gains of over 600 mil- lion euros and an IRR on investments of 16%, and investments amounted to nearly 2,000 million euros. The CEO told the Board that “the internationalisation work, which was ef- fectively consolidated in 2012 with the operation in Brazil, have also led to a more diversified Ebitda with greater ex- posure to high-growth markets”. 60% of the Ebitda will be produced outside Spain in 2013, as opposed to 48% in 2009, whereas 16% will come from the new subsidiary in Brazil, arteris. In this period, said Francisco Reynés, “abertis has increased the value of the assets it manages by nearly 28% to more than 29,000 million euros”. Furthermore, the CEO of abertis also said that the company continued to GROWTH WILL CONTINUE TO BE AN OBJECTIVE, ALWAYS UNDER STRICT CRITERIA OF PROFITABILITY AND WITH SPECIAL INTEREST IN INTERNATIONALMARKETS IN THE TOLL ROAD SECTOR implement its efficiency plan in 2012, which since 2010 “has allowed us to save 230 million euros.The efficiency ef- forts made to date will be more visible in the income statements of 2013 and 2014, for most of the restructuring costs have already been provided for, so we expect improved margins”. Challengesfor2013 The principal strategic objective for 2013, according to Francisco Reynés, will be to consolidate the achievements of last year, and especially the integration of the Brazilian and Chilean assets. “Growth –said the CEO– will continue to be an objective, always under strict criteria of profitability and with special interest in international markets in the toll road sector”. The Group also sets as challenges for 2013 to continue “in search of effi- ciencies in opex and capex in all busi- ness, and the strengthening of the bal- ance and the financial position of the company”. The CEO also highlighted the target of “achieving greater optimisation of our portfolio with disinvestments of the minority participations that do not allow us to play an industrial role and consolidate our accounts”. TheShareholders’ Assemblywasheld inMarchatthePalau deCongressosin Barcelona. Contribution by countries (million euros) SPAIN FRANCE UNITED KINGDOM CHILE REST OF THE WORLD2008 2009 2010 2011 2012 3,679 3,904 3,917 3,915 4,039 2,550 2,500 2,450 2,400 2,350 2,300 EBITDA (million euros) 2010* 2011 2012 2012 2% 2% 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 2010 2011 2012 (comparable) 25,292 22,749 TOTAL ASSETS (million euros) 29,087
  • 71. 72 LINK abertis JULY 2013 Shareandstockexchange development The president of abertis, Salvador Ale- many, also referred in his speech to the meeting to the solidity of the company’s stock exchange value. In this sense, he stressed that “the progression of our ac- tion continues to argue in favour of a value which over the whole economic cycle is capable of presenting sustained growth, of neutralising the sporadic cor- rections of some years”. Salvador Alemany said that “in con- trast to the 4.7% fall in the Ibex 35, the abertis share has revalued by 5.7%”. A share that has accumulated an annualised profitability of 14% since the company appeared in 2003, bearing in mind the combination of dividends, released capital increases and portfolio revaluation. Complementarydividendand otheragreementsoftheAssembly The abertis Shareholders’Assembly also approved the distribution of a gross com- plementary ordinary dividend of 0.33 euros per share which,along with the dividend on account paid in November 2012, makes a total of 0.66 gross euros per share against theresultsof2012,inlinewiththedividend shared out the previous year.The comple- mentary dividend will be paid on 3April.In total,abertis willhavedevoted538million euros to sharing out ordinary dividends against 2012.TheAssembly also approved a released capital increase against involun- tary reserves in a proportion of one new share for every 20 old with a par value of 3 euros per share,to an amount of 122.2 mil- lion euros, which will increase shareholder retribution by 5%. Finally, the abertis shareholders also gave the green light to the annual accounts of 2012 and the management reports of the Board of Directors, and the retributive policy. Key points The rotation, focusing and internation- alisation of the portfolio in recent years transform the group’s profile. Since 2009, the group has doubled the number of concessions (32) and kilometres (7,400) it manages and has enhanced its internationalisation. The group’s efficiency programme,which will be developed until 2014,has produced accumulated savings of over 230 million euros. IN CONTRAST TO THE 4.7% FALL IN THE IBEX 35, THE ABERTIS SHARE REVALUED BY 5.7% IN 2012
  • 72. JULY 2013 LINK abertis 73 abertis announced the renewal of itsBoardofDirectorsatthepastGen- eral Assembly of Shareholders.A renewal derived, on the one hand,“from the reor- ganisationofourshareholdingfortheincor- poration of OHL into the abertis capital” andcomeontheother,“theproposedreduc- tionoftheboardfromthepresentmaximum of 22 members provided in the bylaws, to the 17 considered”, according to the com- pany president,SalvadorAlemany. Partner“withalong-termview” Regarding the incorporation of OHL as a leading shareholder in abertis, this new partnerfullyassumestheindustrialdiscourse of an infrastructure manager“with a long- termview”.Thepresidentofabertisstressed “the commitment to the project,the natu- ral fit and the coincidence of interests pro- ducedwiththeincorporationofOHL”.Con- cerningtheproposedreductionoftheBoard, this is an important development in coher- ence with the best practices and recom- mendations in the area of Good Corporate Government. The Shareholders’Assembly approved the reduction of the maximum number of members forming the Board of Directors from 22 to 17 THE GENERAL ASSEMBLY OF SHAREHOLDERS APPROVED THE REDUCTION FROM 22 TO 17 OF THE MAXIMUM NUMBER OF MEMBERS ON THE BOARD OF DIRECTORS ALEMANY HIGHLIGHTED “THE COMMITMENT TO THE PROJECT, THE NATURAL FIT AND THE COINCIDENCE OF INTERESTS WITH THE INCORPORATION OF OHL” TEXT AND PHOTOS abertis The Board approved the reduction of the maximum number of members of the Board of Directors from 22 to 17.The mini- mum number is still 6.The Board also re- electedtheboardmembersSalvadorAlemany Mas, Isidro Fainé Casas and Marcelino ArmenterVidalforanewstatutoryperiodof five years. TheBoardalsoratifiedtheappointments madebytheBoardofDirectorsandappointed the dominical members Juan-MiguelVillar Mir,representing Obrascón Huarte Lain,SA, JuanVillar-MirdeFuentesrepresentingOHL ConcesionesSAU,andTomásGarcíaMadrid, representing OHL Emisiones SAU. It also appointedManuelTorreblancaRamírezrep- resentingPablis,SL,asdomanialmemberand Carlos Colomer Casellas as an independent member. It also ratified de co-opted Board appointment of María Teresa Costa and MónicaLópez-Monísasindependentmem- bers.Therefore, following the resignation in February of five board members, the Board of Directors is made up of 17 mem- bers. INVESTOR’S LINK Changes in the shareholding and the Board of Directors
  • 73. 74 LINK abertis JULY 2013 abertisinJuneplaced10-yearbonds atthelowestinterestinitshistory,with a coupon of 3.75%.The profitability is also thelowestpaidforSpanishcorporatedebtat adecadesinceJune2005.Thecompanyissued securities for 600 million after obtaining demand for more than 1,000 million during the placement, in which 170 institutional investors took part from France, the United Kingdom,Germany,Italy and Spain. The profitability is also the lowest outlaid for the Spanish corporate debt at ten years since 2005 TEXT AND PHOTOS abertis Intermediaries taking part included Banca IMI, CaixaBank, Citigroup, Credit Suisse, Santander, Société Generale and UniCredit. This issue follows that which abertis executed in October 2012 for 750 million, when the coupon was one point higher and maturity was at seven years.In September 2009 the company distributed bonds for 1,000 million at 4.62% and for seven years. INVESTOR’S LINK abertis issues bonds at the lowest interest in its history pre issue bonds 750+600 post issue bonds 750+600 Holding debt amortisation 1,000 800 600 400 200 0 2013 2014 2015 551 708 929 6 160 311 abertis will use the capital it has obtained to refinance short-term debt maturities.Afterclosing2012with14,130 million of net debt, an average maturity of 5.9 years and an average cost of 4.7%, the bond issue for 600 million has the double effect of raising the repayment timeofthedebtandreducingtheaverage cost.With the most imminent maturities covered, abertis has no new financing needs until 2016. public purchase offer on arteris abertis will also delay the released cap- ital increase that the group carries out every May until the end of the settlement of the public purchase offer of shares on arteris, which will occur at the end of July. As soon as the process is over, the company will report the period of free allocation of the new shares correspond- ing to the released capital increase when the Brazilian stock market authorities should give their indication.
  • 74. JUNE 2009 LINK abertis 75 The most accessible toll motorways for drivers with disabilities. Travelling on toll motorways is now more convenient, easier and safer. abertis autopistas gives you aVíaT device so that you do not have to stop at the toll booths and so that you can enjoy the special advantages and discounts forVíaT users. Get ready to travel the motorways without stopping.Without barriers. Action aimed at drivers with disabilities who have a valid driving licence and a card proving their disability, issued by the Ministry of Social Welfare and Family, with a degree of disability equal to or greater than 33% and with reduced mobility. *Promotion until end of stock clearance. Initial fee: €0. Special maintenance fee for second and successive years: € 2. VíaT is commercialised under special conditions by More information on or call us at +34 902 200 320 from Monday to Friday from 8 am to 8 pm or email for information at
  • 75. por un mundo que funcione for a world that works At abertis your safety matters, because your life and the lives of your loved ones are of the utmost importance to us. For that reason we are improving safety on the motorways through variable signage systems,medical and mechanical assistance, winter road systems, constant road surface renovation, innovation in security systems for tunnels and registration plate recognition systems.We keep drivers informed via 500 variable message panels and wherever you are, with traffic information in real time at We work in cooperation with the traffic management authorities, facilitating information and access to our operations centres and to over 600 traffic monitoring cameras, 24/365. We also promote a road safety campaign at schools via the abertis foundation, to promote responsible road use habits.At abertis we are working towards a world that works better. we work for your safety on the road