Presentation President - Abetis Shareholders General Meeting 2011
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Presentation President - Abetis Shareholders General Meeting 2011

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Presentation President - Abetis Shareholders General Meeting 2011 Presentation President - Abetis Shareholders General Meeting 2011 Presentation Transcript

  • Salvador Alemany, President 1
  • Contents 1 Context 2010 2 Stock market and shareholder reward 3 Reorganisation of the businesses 4 Corporate responsibility 2
  • Economic context Context 2010 GDP growth 12 10 8 BRIC countries 6 (Weighted) 4 United States 2 European Union 0 Spain -2 -4 -6 2006 2007 2008 2009 2010 Simultaneous entry and asymmetrical exit from  the crisis 3
  • Economic context Context 2010 Growth Estimates 2011 GDP <1,5 [1,5 - 4,3] [4,3 - 7,0] >7,0 New processes of monetisation and privatisation of assets We must be ready for the opening up of markets to  open up Source: IMF World Economic Outlook, April 2011 4
  • Growth: a strategic challenge Context 2010 Years of life • New concessions • Extension of current ones • Mature concessions Cash flows  Balanced management of the assets portfolio 5
  • Abertis 2010 Context 2010 5.2% Strength of the fundamentals Income Geographical diversification Visibility telecommunications business 5.9% EBITDA Positive impact AP-7 agreement Positive development of traffic France and South America 6.1% Net Result  Capacity to absorb the impact of the economic cycle 6
  • Contents 1 Context 2010 2 Stock market and shareholder reward 3 Reorganisation of the businesses 4 Corporate responsibility 7
  • Stock market development Stock market and shareholder reward % Annual change in share price 60 42 38 40 26 31 17 11 14 * 20 1 1 3 0 ABERTIS -20 -10 -40 -40 Quotations 450 400 350 300 ABERTIS 250 IBEX 35 200 BRISA 150 ATLANTIA 100 50 (100 = 1/1/00) 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011  (*) Until the 20/6/2011 8
  • Share liquidity Stock market and shareholder reward 31.5% “la Caixa” 43.7% Free-float Group Free-float 43.7% 28.5% 1.2% Treasury stock CVC+ACS 18.8% Savings 1.96% 25.8% banks 2007 2008 2009 2010 2011 x2 Average daily 2007 1.5 M volume traded (million shares) May 2011 3.0 M The share price held strong and absorbed the progressive departure of the savings banks 9
  • Dividend 2010 Stock market and shareholder reward Ordinary dividend 0.60 € per share 0.30 on account 0.30 complementary (to be paid 28/6/2011) Pay-out 67% On consolidated net result 1x20 Share issue We mainatin a sustainable shareholder reward policy 10
  • Contents 1 Context 2010 2 Stock market and shareholder reward 3 Reorganisation of the businesses 4 Corporate responsibility 11
  • Components of the Reorganisation of thereorganisation businesses Duplo project Sale of the stake in Atlantia 12
  • Monetisation of the Atlantia Reorganisation of theinvestment businesses 626 M€ Sale of shares in Atlantia 151 M€ Capital gains 17% average annual profitability Synergies and prestige in Italy  A meaningful and clearly profitable investment 13
  • Components of the Reorganisation of thereorganisation businesses Duplo project Sale of the stake in Atlantia 14
  • Growth Reorganisation of the businesses Opportunities GROWTH CONSOLIDATION Market cap 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Debt 15
  • Duplo project Reorganisation of the businesses 16
  • A new abertis Reorganisation of the businesses More Focus Capital-intensive sectors  Facilitating the rotation and renewal of assets in line with concessions cycle 17
  • A new Saba Reorganisation of the businesses More oriented towards local administrations More balanced structure Organisation Shareholder structure Balance  A recast Saba with a perspective of growth 18
  • 1999 Reorganisation of the businesses 19
  • 2010 Reorganisation of the businesses 20
  • 2011 Reorganisation of the businesses “la Caixa” Group as main shareholder Head office in Barcelona Management familiar with the business 21
  • Saba vision Reorganisation of the businesses Benchmark operator in developing solutions in mobility in cities and logistics flows Consolidate the Leadership in leadership of Southern Catalonia and Spain, Europe and growth and optimisation in strategic markets of assets 22
  • Saba orders of Reorganisation of themagnitude businesses Pro forma (M€) (M€) 2010 2010 Equity 400 Income 189 Net debt 460 EBITDA 87 Leverage ratio 53%  23
  • A new project open Reorganisation of theto all shareholders businesses Extraordinary dividend 2011 0.67 €/share Shares in (1 abertis share 1 Saba share + 0.13 €) Until 22/07/2011 All in cash (Payment date : 27/07/2011)  Payment of the dividend in cash if shares not chosen 24
  • A new project open Reorganisation of the businessesto all shareholders Current shareholders of abertis (voluntary option)  Saba is large enough to be a global operator 25
  • Estimated impact on abertis’ Reorganisation of theorders of magnitude businesses Pro forma 2010 (M€ ) abertis Saba Variation Income 4,106 189 -5% EBITDA 2,494 87 -4% Total Assets 25,292 1,464 -6%  26
  • Partial return of share premium Reorganisation of the businesses 296 M€ 0.40 € per share Payment date 27/7/2011  Income from the sale of Atlantia makes this partial return possible 27
  • Debt reduction Reorganisation of the businesses Sale of Atlantia +626 Separation of businesses +853 Extraordinary net dividend (*) -791 Net debt reduction 688 (*) In cash or shares in saba infrastructures 28
  • Timetable Reorganisation of the businesses Paid out of profits 28 Financial year 2010 0.30 € june complementary Return 27 Share Premium 0.40 € july Paid out of profits 0.67 € (*) 27 Financial year 2011 extraordinary july  (*) Shareholders that opt for a cash payment. Alternatively, 1 Saba Infrastructures share + 0.13 € 29
  • More opportunities and Reorganisation of themore competition businesses EcoTaxe Airport concessions Infrastructures in the Motorways Five-year plan projects USA Financing new motorways with PPPs Infrastructures for Olympics and World Use of PPPs  Adapting to the demands of each moment 30
  • Contents 1 Context 2010 2 Stock market and shareholder reward 3 Reorganisation of the businesses 4 Corporate responsibility 31
  • Awards and certifications Corporate responsibility 91% of the business with ISO 9001 certification 94% of the business under an environmental management system 2,198 Suppliers approved 32
  • Abertis Foundation Corporate responsibility 33
  • Fundación abertis in France Corporate responsibility  A milestone expressing our commitment to a country in which we generate nearly 40% of our income 34
  • Renewal, revisionRecreating our and regenerationproject Track record and potential for growth We have the team and New opportunities talent of our people We are at the starting point of a new path 35
  • Salvador Alemany, President 36