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Press conference
SHAREHOLDER STRUCTURE                              CVC        OHL Group                              15.55 %    15.25 %   ...
ASYMMETRIC DEVELOPMENT OF THE CRISIS     0,3     0,2                                                                      ...
ASYMMETRIC DEVELOPMENT OF THE CRISIS           10            8            6                                               ...
2012 TRANSFORMATION    abertis: nº 1 toll road manager worldwide                      Leap forward
2012 TRANSFORMATION                                 A           Geographical benchmark                               and a...
10 YEARS OF abertis                      2013         2003
10 YEARS OF abertis
CREATING VALUE                           + Growth          Shareholder’s               Renewal          returns           ...
CREATING VALUE                                                                                 Variation 2011/2012        ...
FOCUSINTERNATIONAL                                 DISPOSALSEXPANSION CONTROL                €1,700 Mn cash (€3,000 since ...
ATTRACTIVE REINVESTMENTS              Investment: €1,950Mn (€3,200Mn since January 2011)              IRR over 13%
€Mn                     3,227Revenue                          4,039    +3%            493Operating costs                  ...
Staff costs                          Manageable costs                        ~550 *           348            ~360 *     52...
sat                          Brazi                          23% Eutel                       Teleco Chilel                 ...
OBLIGATIONS                GOALS             ACTIONS                          Growth and      Rating               renewin...
Total cash flow applications 2010 - 2012 €Mn Sale of assets       3.0                            3.2           Investments...
Concessions                                     Kilometres          x2                                                    ...
INCOME STATEMENT EFFICIENCY (€MN) Revenue                 EBITDA                  Net profit           7%                 ...
EBITDA   2009                                  2013e                                                           Telecom    ...
Focus on streamlining and harnessing synergiesDisciplined growth to create valueMotorways: brownfield and yellowfield toll...
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Presentation Press Conference Abertis General Meeting 2013

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Transcript of "Presentation Press Conference Abertis General Meeting 2013"

  1. 1. Press conference
  2. 2. SHAREHOLDER STRUCTURE CVC OHL Group 15.55 % 15.25 % “la Caixa” 26.42 % Free Float 42.78%
  3. 3. ASYMMETRIC DEVELOPMENT OF THE CRISIS 0,3 0,2 20.8 % 0,1 0 −2.0 % -0,1 −12.5 % -0,2 -0,3 − 30.4 % -0,4 2007 2008 2009 2010 2011 2012 Accumulated ADT Spain France Americas Total abertis
  4. 4. ASYMMETRIC DEVELOPMENT OF THE CRISIS 10 8 6 +5.4 4 +3.7 2 +2.4 0 +0.5 -2 -4 -6 2007 2008 2009 2010 2011 2012 2013 Annual change GDP Emerging World economy US EU
  5. 5. 2012 TRANSFORMATION abertis: nº 1 toll road manager worldwide Leap forward
  6. 6. 2012 TRANSFORMATION A Geographical benchmark and a Sufficient diversification fundamental size partner
  7. 7. 10 YEARS OF abertis 2013 2003
  8. 8. 10 YEARS OF abertis
  9. 9. CREATING VALUE + Growth Shareholder’s Renewal returns of assets + Return
  10. 10. CREATING VALUE Variation 2011/2012 5.7 % 10 % −4.7 % Quote abertis Ibex 35(*) Includes Ordinary dividend, bonus share issue and revaluation
  11. 11. FOCUSINTERNATIONAL DISPOSALSEXPANSION CONTROL €1,700 Mn cash (€3,000 since January 2011) Gains: €630 Mn Financial structure strengthened IRR: 16%
  12. 12. ATTRACTIVE REINVESTMENTS Investment: €1,950Mn (€3,200Mn since January 2011) IRR over 13%
  13. 13. €Mn 3,227Revenue 4,039 +3% 493Operating costs -1,580 319Gross margin (EBITDA) 2,459 +0% 2,191Like-for-like EBITDA 2,515 +2% 230Amortisation/depreciation 94 -971Asset value adjustments -199Operating margin (EBIT) 1,290 -15%Non-recurring financial result 393Recurring financial result -570Profit – equity accounting 63Profit before tax 1,176 +15%Corporate income tax -93Minority interests -59Net profit 1,024 +42%Like-for-like net profit 613 +2% Like-for-like results up 2% despite difficult climate
  14. 14. Staff costs Manageable costs ~550 * 348 ~360 * 528 522 -20% 295 -5% 2010 2012 2010 2012Operating capex 184 ~190 * -30% Accumlated savings 133 of over €230Mn since 2010. 2010 2012 * Like-for-like, including CPI
  15. 15. sat Brazi 23% Eutel Teleco Chilel ms 16% Brisa Hispa towers s Tunne at Own p ls ortfol io13,882 206 1,677 2,131 14,130 11,199 2011 Free cash flow Divestments Like-for-like Growth 2012 generated debt 2012 investments Stable debt against a backdrop of growth
  16. 16. OBLIGATIONS GOALS ACTIONS Growth and Rating renewing concessionsSustainable dividend Portfolio Internationalisation Minimum IRR Efficiency Profitability
  17. 17. Total cash flow applications 2010 - 2012 €Mn Sale of assets 3.0 3.2 Investments in growth 1.7 Organic investment 0.5 Reduction in net debtOperations and efficiency 7.2 2.2 Dividends 2.6 Finance charges and taxes Cash inflows Cash outflows Rotating the portfolio to focus and expand internationally
  18. 18. Concessions Kilometres x2 x2 32 7,327 16 3,756 2009 2013e 2009 2013e Employees ,5 x1 ~ 17,580 12,073 2009 2013e
  19. 19. INCOME STATEMENT EFFICIENCY (€MN) Revenue EBITDA Net profit 7% 6% +3 ~5,100 +3 1,024 3,724 ~3,100 720 2,285 624 662 2009 2013e 2009 2013e 2009 2010 2011 2012 Like-for-like profit 2012: +2% Improving financial figures
  20. 20. EBITDA 2009 2013e Telecom 8% Telecom 11% Airports 2% Airports 5%Motorways Car parks + 79% Motorways Logístics 90% 5% France France Brazil Other 39% 32% 16% 3% Chile Chile 8% Spain 6% 52% Spain Other 38% 6%Average concession life extended to 2028
  21. 21. Focus on streamlining and harnessing synergiesDisciplined growth to create valueMotorways: brownfield and yellowfield tollsTelecom: expansion in mobile phone towers and Hispasat
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