OHL Concesiones presented its performance in 2008 and key details about its business. In 2008, revenues grew 34.2% to 542 million Euros and EBITDA grew 25.2% to 358 million Euros, despite negative foreign exchange impacts. The company also saw growth in its backlog with new concessions in Mexico and Peru. Financially, OHL Concesiones achieved its goals, including refinancing of its Conmex concession in Mexico to fund new investments.
HMS Group plc (the “Group”) (LSE: HMSG), the leading pump manufacturer and provider of flow control solutions and related services in Russia and the CIS, today announces its unaudited IFRS financial results for the three months ended March 31, 2011
HMS Group plc (the “Group”) (LSE: HMSG), the leading pump manufacturer and provider of flow control solutions and related services in Russia and the CIS, today announces its unaudited IFRS financial results for the three months ended March 31, 2011
Latvia Looking Ahead - the Remaining Challenges Latvijas Banka
Presentation by Mark Griffiths, Mission Chief for Latvia, IMF at International Conference: "Against the Odds: Lessons from the Recovery in the Baltics" organized by the International Monetary Fund and the Bank of Latvia.
Riga, June 5, 2012
Foraco International 2008 Annual ReportTMX Equicom
2008 annual report for Foraco International (TSX: FAR). Foraco International SA (Foraco) is a drilling service provider with operations in 18 countries. The Company operates 115 drill rigs providing a range of drilling services to its customer base.
Indicadores Fundamentales de OHL crecen a doble dígito en el primer trimestre...OHL_Mexico
OHL México, uno de los principales operadores en el sector privado de concesiones en infraestructura de transporte, anuncia sus resultados del primer trimestre del 2016.
Latvia Looking Ahead - the Remaining Challenges Latvijas Banka
Presentation by Mark Griffiths, Mission Chief for Latvia, IMF at International Conference: "Against the Odds: Lessons from the Recovery in the Baltics" organized by the International Monetary Fund and the Bank of Latvia.
Riga, June 5, 2012
Foraco International 2008 Annual ReportTMX Equicom
2008 annual report for Foraco International (TSX: FAR). Foraco International SA (Foraco) is a drilling service provider with operations in 18 countries. The Company operates 115 drill rigs providing a range of drilling services to its customer base.
Indicadores Fundamentales de OHL crecen a doble dígito en el primer trimestre...OHL_Mexico
OHL México, uno de los principales operadores en el sector privado de concesiones en infraestructura de transporte, anuncia sus resultados del primer trimestre del 2016.
The Avid Life Media hack is a striking example of everything that can go wrong when a company is completely breached followed by a total disclosure of the stolen information. This attack resulted in an estimated $200 million in costs, firing of the CEO, and countless lives ruined. This presentation will review the data exposed and what can be learned to prevent this from happening to your organization.
Highlights of the first quarter of 2012. Net sales amounted to SEK 25,875m (23,436) and income for the period was SEK 559m (457), or SEK 1.96 (1.61) per share. Net sales improved by 10.4%, of which 3.5% was organic growth. The acquisitions of CTI and Olympic Group impacted sales by 5.8%.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
2. Contents
Page
1. Basis of the Presentation 03
2. Investment Arguments and Criteria 05
3. Growth Process and Current Presence 08
4. Organization and Human Resources 13
5. 2008 and Key Magnitudes 17
6. New Concessions 31
7. Financing in Negotiation 36
8. Strategy 39
9. Valuation 42
Appendix
2
4. Basis of the Presentation
1. The consolidated figures included in this presentation are “Pro-Forma”, and cover, besides data on OHL
Concesiones, S.L., information on those concessions that:
• Are property of other companies of the OHL Group
• Are being transferred to OHL Concesiones, S.L., and
• Are managed by OHL Concesiones
2. Accounting information, pertaining to both OHL Concesiones and each of the concession holders, was
prepared according to International Financial Reporting Standards (IFRS), that are also followed to prepare
the OHL Group’s Consolidated Annual Accounts, accordant to laws in effect and that may differ from the
accounting rules applicable to concession holders in each country.
3. Any statement not expressely referred to historical data in this presentation including without limitation those
related to the financial standing of the concession holders and of OHL Concesiones, as well as its operating
development, business strategy, management plans and future operations objectives are to be considered
estimations for the future. These estimations involve known and unknown risks; uncertainties and other
factors that may cause that actual results of OHL Concesiones, its performance and achievements, or its
business results and conditions may differ fundamentally from those foreseen or implicit in these estimations
for the future.
This presentation, including its estimations for the future are valid at today’s date and OHL Concesiones
expressly waives any obligation or commitment to provide any updates or revisions of this information, any
changes in its expectations; any change of the facts; conditions and circumstances that served as the basis to
these estimations for the future, nor changes in the economic environment that OHL Concesiones expects to
find in the future.
4. In this presentation only currently existing concessions are valued. Only in the “Future Value Hypothesis”
there is a reference to the value of possible new concession business.
4
6. Investment Criteria
• Recurrent revenues and margins.
• Selective high-yield investment with:
- Controlled-risk.
- Self-financing capacity without recourse to OHL Group.
• Complementary with the rest of the OHL Group business.
• Knowledge of customers, markets, technology and other aspects.
6
7. Investment Criteria
• Geographical scope:
• Strategic Countries like Brazil, Mexico, Chile, Peru and Spain.
• Selectively in other geographical areas.
• Interest percentage: We favour majority holdings that confer decision-taking and
control powers in each concession.
• Profitability: A 15% target in Euros, taking into account the effect of possible
parity changes, estimated as inflation differential.
• Equity: Financed with cash flow put up by the Group.
• Debt: Non-recourse and in local currency, free from exchange rate risk.
7
9. Core Business of OHL Group
Revenues
• Wholly-owned OHL Group (€ Mn)
subsidiary, established on November 4500
2000. 4000 14%
542
436
3500
12%
3000
• With growing importance within OHL 2500
Group, currently accounting for 14% 2000
3,466
3,328 88% 86%
of revenues and 56% of EBITDA. 1500
1000
500
• Core business of OHL Group. 0
2007 2008
EBITDA (€ Mn)
700
600
500
340 56%
400 317
58%
300
200 44%
OHL Concesiones
268
225
100 42%
Remainder of OHL Group
0
2007 2008 9
10. Proven Growth Track-Record
Establishment Brazilian Federal
Acquisition of
Acquisition of Bicentenario
Floatation of OHL
94% holding
of OHL Roads
Vianorte and Toluca Viaduct
Centrovias Awarding of Brasil
in Autovias
Concesiones, SL Libramiento
Acquisition of
and Móstoles-
CONMEX and
(with AECSA, M- Puebla
Awarding of Oeste Navalcarnero train
Fumisa Intervias
Acquisition of
Acquisition of Awarding of Ruta 60 Port of Alicante
45 and 9% of Light Rail
Aragón Highway Del Norte Highway
Amozoc-Perote
I2000 and Eje Aeropuerto
Autovias)
Strategic Definition Development Consolidation
OHL´s Investement
1
92
Value
Revenues
2
80
6
76
EBITDA
€ Mn
2
7
54
4
53
52
6
43
8
38
0
34
3
7
33
31
0
4
25
25
9
21
6
16
2
7
15
1
12
12
91
85
79
70
68
40
46
47
20
2000 2001 2002 2003 2004 2005 2006 2007 2008
Revenues C.A.G.R. (2000-2008): 38.6% EBITDA C.A.G.R. (2000-2008): 42.2%
10
11. Transport Infrastructures Global Manager
Highways
4,400 km of toll highways. Details (main concessions)
- 4,234 km in operation.
Concession
Construction Operation Total
- 166 km under construction. Type
Airports
Highways 3 19 22
Integral Management. More than 4 million
Airports 0 1 1
passengers / year.
Ports 0 1 1
Ports
Railways 1 1 2
30 hectares and 1,275 meters of berthing line
in Commercial Ports. Total 4 22 26
Railways
37 km of railways.
Number of Contracts Total Km. Evolution
4,400
4,012
30
4000
25
26
24 3000
20 22
20
15
2000
10
801
8 8 1000
5
0
0
2001 mar-08 mar-09 2001 mar-08 mar-09
Total Concessions Highways
Ranked 7th private transport infrastructure promoters in the world, ranking PWF 2008.
11
12. Geographic Presence
Global Presence
• Consolidated presence in
attractive markets with
outstanding growth potential
markets.
• Experience and know-how to
develop the activity in other
markets.
12
14. Management Chart Summary: Main Concessions
OHL Concesiones
PERU
ARGENTINA BRAZIL SPAIN MEXICO
CHILE
100% Circuito Exterior
71% 100%
60% 100% 87%
Autopista Autopista Mexiquense
FASE I Autopista del Norte
OHL Brasil M-45
Ezeiza-Cañuelas Los Andes
100%
100%
75%
55% 100%
Infraestructura Autopista Autopista M-12
Amozoc-Perote FASES II, III y IV
2000 Los Libertadores Eje Aeropuerto
95% 100%
São Paulo State 100%
Federal Network Autovía de Aragón Libramiento Norte
Network Autopista del Sol
Tramo 1 de Puebla
100% 100%
100%
Autovias Rio de Janeiro
50%
Viaducto
Espírito Santo
Puerto de Alicante
Bicentenario
100%
100%
São Paulo
Centrovias 51% 33%
Belo Horizonte
Metro Ligero Aeropuerto Int.
Oeste de Toluca
100%
100%
São Paulo
Intervias
Curitiba 100%
Cercanías Móstoles
100% Navalcarnero
100%
Curitiba
Vianorte
Florianópolis
100%
Curitiba
Rio Grande do Sul
14
15. Organization Chart
Board of Directors
____________________________
Chairman
Juan Villar-Mir de Fuentes
Chief Executive Officer
Juan Osuna
Legal Counsel
Business Development Directors
M. Carmen Honrado
Ignacio García / Sergio Merino
Financial Director
Gabriel Núñez
Chief Construction Officer Technical Director
Carlos García-Faure Pedro Martín
Administration Director Chief Financing Officer
Eugenio Mota Felipe Ezquerra
Chief Opperating Officer Port Director
Manuel Bejerano Francisco Oviedo
Human Resources
Arturo Pousa
Director
Director Director Director Director
Director
Peru
Argentina Brazil Spain Mexico
Chile
15
16. Human Resources
OHL Concesiones SL, business Staff 2008: 5,313 people
chairmanship, takes on the following
functions: 6000 60
• Analysis and management of business 4000
47
developments and tendering or acquisition 5,253
2000
processes. 2,859
0
• Financing and optimization of the concessions 2007 2008
5.253
financial structure. 0
OHL Concesiones, S.L. Sociedades concesionarias
Concession Companies
OHL Concesiones S.L.
• Control and supervision of concessions in
operation.
Geographical Breakdown 2008
Local organizations take on the
following functions: Argentina
1% 8%
10%
• Identification of investment opportunities and 7% Brazil
6%
cooperation in the preparation of tendering Chile
processes and in the negotiations to acquire Spain
concessions. Mexico
68% Head Office
• Management of concessions in operation and in
construction.
Control of investment process:
New concession tendering and negotiations to acquire new concessions need the approval of both the
Strategy Committee of OHL Concessiones and the Investment Committee of OHL Group.
16
18. General Environment
• Serious economic and financial world wide crisis.
• Lesser impact in South America.
Variation in real GNP
2008 2009 (E) 2010 (E)
USA 1.1% -1.2% 1.5%
EU 0.7% -2.5% 0.2%
SPAIN 1.2% -2.8% 0.3%
BRAZIL 5.1% -0.3% 3.5%
MEXICO 1.4% -1.8% 1.1%
CHILE 3.4% 0.5% 2.3%
PERU 9.8% 4.2% 4.8%
Source: BBVA study services, February 2009 and Focus Report from
Brazil’s Central Bank.
• Concessions Business: Relatively good performance.
Growth in revenues:
•
•Traffic resistance.
•Tolls indexed to inflation.
Availability of financial resources, although with negative impacts:
•
• Financial entities still maintain their appetite.
• Developments public bank support.
• Increase in bank spreads, term reduction and decrease in leverage levels.
Increase in business opportunities:
•
• Lesser competition.
• More government interests.
18
19. 2008 Highlights (I)
• Good performance of Revenues and EBITDA with homogeneous growths of
34.2% y 25.2%
Revenues performance 2007-2008 € Mn EBITDA performance 2007-2008 € Mn
358
400
542 286
600 Var. +25.2%
404 300
Var. +34.2%
400
200
200
100
0 0
2007 2008 2007 2008
€ Mn 2007 2008
€ Mn 2007 2008
EBITDA 317 340
Revenues 436 542
FUMISA sale (31) -
FUMISA sale (32) -
Eje Aeropuerto Provision - 18
Eje Aeropuerto Provision - -
Homogeneous EBITDA 286 358
Homogeneous Revenues 404 542
• Despite the negative impact of the exchange rates performance.
Average exchange rate performance versus the Euro 08/07
Devaluation
Currency
Argentinean Peso 8.6%
Chilean Peso 6.8%
Mexican Peso 8.5%
Brazilian Real 0%
19
20. 2008 Highlights (II)
Backlog Growth with:
• Two concessions in Mexico: Libramiento Norte of Puebla with 32 km, in March of
2008 and the Bicentenario Viaduct with 32 km, in May of 2008.
• One concession in Peru: Autopista del Norte with 356 km in February of 2009.
In the financial field: Achieved the goals established.
• Mexico: In November of 2008, first refinancing of Conmex (from 3.3 to 6.0 billion
Pesos) to obtain the funding for the initial investments of phase II and III (BBVA-
Bancomer, Banobras and Banorte).
• Brazil: In June of 2008, refinancing of Autovias, Centrovias and Intervias up to 670
million Reais to fund initial investments of the federal concessions (Santander,
Bradesco and Banco do Brasil).
• Spain: In June 2008 closing of the financing of the Aragón highway - tranche 1 for
a total amount of 116.5 million Euros (BEI, ICO and DEPFA Bank).
20
21. 2008 Highlights (III)
Operations:
• In June 2008 , beginning of operation of sector 2 of the Los Andes highway, of 38.5 km, which
joins the cities of La Calera and Valparaiso.
• Completion of the operation of Amozoc – Perote in Mexico, since November of 2008.
• Federal highways in Brazil: After the signing of the contracts in February 2008, initiation of the
works begun and service and conservation started in August of 2008. Construction of the toll
booths and gradual collection of tolls since 28th of December 2008 (at the present moment 22 of
the 29 booths are open).
• In December 2008 works where finalized and the operation of the Alicante Port begun.
Contractual Aspects:
• In June 2008 the demand for the economical and financial upright of the Eje Aeropuerto
concession contract was presented.
• In January 2009 the Argentinean government announced a raise in AECSA´s light vehicle toll,
which will permit an increase in income of approximately 90%, as per the upright process of the
contract. This toll increase is in its final phase of implementation.
21
22. 2008 Highlights (IV)
Disposals:
• Sale of 50% of FUMISA in February of 2008, with a net profit of 25.3 million Euros:
Mature concession (5 pending years)
•
• Complicated re-negotiation process.
Investments:
• The concession companies have invested a total of 810 million Euros.
€ Mn
Argentina 4
Brazil 324
Chile 59
Spain 143
Mexico 280
TOTAL 810
22
23. 2008 Traffic and Toll Performance
Good traffic performance in Latin America:
2007/2008 Traffic and Toll Performance
Growths of more than 4% in mature
Company Traffic Toll
concessions in Brazil, Chile and Argentina.
Aecsa (1) -0.6% 15.1%
Strong growths in concessions in initial phase:
Autovias (1) 30.8% 11.5%
Amozoc-Perote 26.3% and Oeste Light Rail
Centrovias (1) 7.0% 11.5%
42.5% (passengers).
Intervias (1) 4.0% 11.5% Growth in Autovias due to the opening of a
Vianorte (1) 6.8% 11.5% new toll booth on July 2007, which has
captured more traffic in comparison to the
Autopista del Sol (1) 8.5% 6.1%
previous year. (Revenues +22% and EBITDA
A. Los Libertadores (1) 5.7% 7.1%
+26%).
A. Los Andes (1) (5) NA NA
Excellent traffic performance in Conmex, with
M-45 (2) (4) -6.9% 4.2% a 17% increase.
Eje Aeropuerto (1) -6.9% 2.9% Beginning of operations in the west tranche of
Oeste Light Rail (3) 42.5% 4.1% los Andes highway (June 2008), and full
operation of the Amozoc- Perote (November
Amozoc- Perote (1) 26.3% 3.8%
2008).
Conmex (1) 17.0% 3.8%
(1) Nº of vehicles (Annual Average Daily Traffic)
(2) Nº of vehicles (Average Daily Intensity)
(3) Average daily passengers
(4) Decrease in traffic does not affect revenues, since traffic is way above the maximum
established as collection basis by the Comunidad de Madrid (shadow toll). The actual
traffic is 22% above the maximum established by the Comunidad de Madrid.
(5) Beginning of operations of the west tranche in June 2008.
23
24. Revenues and EBITDA Detail
COUNTRY: Revenues Mn € EBITDA Mn € EBITDA/Revenues Margin
Company 2008 2007 Var.% 2008 2007 Var.% 2008 2007
Aecsa 11.3 10.7 5.6% 0.6 2.8 -78.6% 5.3% 26.2%
ARGENTINA 11.3 10.7 5.6% 0.6 2.8 -78.6% 5.3% 26.2%
Autovias 68.9 56.4 22.2% 51.3 40.7 26.0% 74.5% 72.2%
Centrovias 63.9 52.7 21.3% 48.7 36.8 32.3% 76.2% 69.8%
Intervias 77.9 69.2 12.6% 57.6 49.2 17.1% 73.9% 71.1%
Vianorte 61.8 53.7 15.1% 47.1 38.8 21.4% 76.2% 72.3%
BRAZIL 272.5 232.0 17.5% 204.7 165.5 23.7% 75.1% 71.3%
(3)
78.1% (3)
Autopista del Sol 31.5 29.1 8.2% 19.2 17.3 11.0% 78.1%
Autopista Los Libertadores 16.6 15.4 7.8% 12.3 11.6 6.0% 74.1% 75.3%
Autopista Los Andes 3.5 - n.a. 1.9 - n.a. 54.3% n.a.
CHILE 51.6 44.5 16.0% 33.4 28.9 15.6% 75.2% 77.1%
Euroglosa M-45 11.1 10.4 6.7% 10.1 9.4 7.4% 91.0% 90.4%
(4) (4)
Autopista Eje Aeropuerto 5.5 5.7 -3.5% -16.8 2.2 n.a. 21.8% 38.6%
Oeste Light Rail 27.2 12.3 121.1% 7.5 4.8 56.3% 27.6% 39.0%
SPAIN 43.8 28.4 54.2% 0.8 16.4 -95.1% 42.9% 57.8%
Fumisa 0.0 32.5 n.a. 0.0 30.8 n.a. 94.8%
Amozoc-Perote 26.3 32.8 -19.8% 12.1 24.1 -49.8% 46.0% 73.5%
Conmex 53.2 49.2 8.1% 46.0 42.5 8.2% 86.5% 86.4%
Rentabilidad garantizada (1) 24.9 141.4%
0.0 0.0 - 60.1 n.a. n.a.
(2)
81.2% (2)
MEXICO 79.5 114.5 -30.6% 118.2 122.3 -3.4% 73.1%
TOTAL CONCESSIONS 458.7 430.1 6.6% 357.7 335.9 6.5% 68.8% 70.4%
Central Offices and Others 83.7 5.4 n.a. -17.8 -18.9 -5.8%
TOTAL 542.4 435.5 24.5% 339.9 317.0 7.2%
(1) Classified in other operating revenues, and not included in the consolidated figures; (2) EBITDA/Revenues not including the guaranteed profitability of CONMEX and in 2007 without
FUMISA; (3) % EBITDA/Revenues eliminating the canon to the Government expense of 5.4 € Mn/year; (4) the EBITDA includes an 18 € Mn provision for fixed assets impairment.
24
25. Long Term Orderbook
Long Term Orderbook Performance € Mn Orderbook Geographical Breakdown
51,490 2% 2% Argentina
54000
46,175 Brazil
35%
48000 C. A.G.R. + 48.7% 40%
Chile
42000
Spain
36000
Mexico
30000
23,856 13% 8% Peru
24000
16,744
18000
8,517 10,035
12000
Orderbook Business Breakdown
3,208 4,566
6000
0
1%
9%
2007 (1) 2008 (2)
2001 2002 2003 2004 2005 2006
Highways
(1) Includes the orderbook of 5 federal highways in Brazil, signed in February 2008. Does not
include Fumisa which was sold in March 2008, nor the Libramiento de Puebla signed in March
Railways
2008.
Ports
(2) Includes the orderbook of Autopista del Norte, signed in February 2009.
90%
Orderbook as of 31/12/07 46,175
+ Libramiento Norte de Puebla 434
2008 Pro-forma* Orderbook: 51.5 € Bn
+ Elevated Viaduct Bicentenario 5,862
+ Autopista del Norte (Peru) 1,065
*According to subsidiaries consolidation method
+ Orderbook variation (by exchange
-2,046
rate fluctuations and others)
Pro-forma+ Orderbook as of 31/12/08 51,490
25
26. Main concessions Key Data I (€ Mn)
Total OHL Investment Average Daily
Toll Roads Country Stage Km % OHL
Traffic (1)
Investment Value
Aecsa Argentina Operation 60 93 71% 85.7 214,720
Total Argentina 60 93 85.7
Brazil Operation 316 320 60% 103,786
Autovias
Centrovias Brazil Operation 218 278 60% 60,727
Intervias Brazil Operation 376 501 60% 141,576
Vianorte Brazil Operation 237 247 60% 79,582
101.4
Rio de Janeiro-Espirito Santo Brazil Pre-operation 320 615 60% NA
São Paulo-Belo Horizonte Brazil Pre-operation 562 816 60% NA
Brazil Pre-operation 402 1,082 60% NA
São Paulo-Curitiba
Curitiba-Florianópolis Brazil Pre-operation 382 758 60% NA
Brazil Pre-operation 413 461 60%
Curitiba-Rio Grande do Sul
Total Brazil 3,226 5,078 101.4
Autopista del Sol Chile Operation 132 152 75% 26.7 71,201
Autopista Los Libertadores Chile Operation 119 154 75% 13.7 36,206
13,786 (3)
Autopista Los Andes Chile Operation 92 276 100% 37.5
Total Chile 343 582 77.9
Autovía M-45 Spain Operation 8 116 100% 77,303
0.1
Autopista M 12 Spain Operation 9 427 100% 10,575
154.3
Autovía de Aragón-Tramo 1 Spain Pre-operation 56 233 95% NA
10.6
Total Spain 73 776 165.0
Conmex (Fase I) Mexico Operation 52 87% 119,673
1,544 228.9
Conmex (II, III y IV) Mexico Construction 103 100% NA
Amozoc-Perote Mexico Operation 123 179 55% 48.2 18,911
Libramiento Norte de Puebla Mexico Construction 32 134 100% 0.7 NA
Viaducto Bicentenario Mexico Construction 32 1,188 100% 63.2 NA
Total Mexico 342 3,045 341.0
(2)
Autopista del Norte Peru Pre-operation 356 203 100% NA
Total Peru 356 203 -
Total Toll Roads 4,400 9,777 77% 771.0
(1) Traffic figure corresponding to equivalent vehicles paying with the exception of M45 that shows the average daily intensity (ADI); (2) Contract signed in February
2009; (3) Traffic corresponding to west sector, began operations in June 2008.
26
27. Main Concessions Key Data II (€ Mn)
Operated Total OHL Investment Passengers /
Others Country Stage % OHL
Facilities Investment Value Year
22 Km.
Operation 6.9 million
Metro Ligero Oeste Spain 937 51% 63.4
2 Lines
Cercanías Móstoles- 15 Km.
Spain Construction 424 100% 25 NA
Navalcarnero 1 Line
30 Ha. Inner
Harbour
Operation
Puerto de Alicante Spain 111 50% 9.7 269,946
1,275 m. Berthing
Line
Airport,
complementary
Operation 4.1 million
Toluca (Airport) Mexico 300 33% 52.4
and commercial
services
1,772 60% 150.4
Total Others
TOTAL 11,549 74% 921.4
27
28. Vi
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Main Concessions Portfolio Life
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average remaining period of the Portfolio.
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25
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The incorporation of the new concessions in 2008 and 2009 enlarges in a relevant way the
ca
-3
47
28
29. Variation of Net and Gross Fixed Assets
Consolidated Net Fixed Assets Variation (€ Thousand)
Consolidated Gross Fixed Assets
CONTROL % Concession OHL % 2008 2007 Difference
(€ Mn)
Aecsa 71% 66,587 -16,042
82,629
60% 140,291 -28,448
168,739
Autovias
Total as of 12/2007 3,124
60% 125,654 -23,126
148,780
Centrovias
60% 132,528 -14,126
146,654
Intervias Investments 2008 770
60% 125,275 -25,104
150,379
Vianorte
FUMISA sale -138
R. Janeiro-E. Santo 60% 36,506 36,506
-
S. Paulo-B. Horizonte 60% 67,067 67,067
- Exchange Rate diferences -327
60% 75,698 75,698
S. Paulo-Curitiba -
Total as of 12/2008 3,429
Curitiba-Florianópolis 60% 41,639 41,639
-
60% 31,012 31,012
Curitiba-R. Gde. do Sul -
Global 75% 86,733 -18,017
104,750
A. del Sol
Considering the canon paid for the
A. Los Libertadores 75% 88,550 -21,820
110,370
Integration
award of the concession Viaducto
A. Los Andes 100% 207,708 19,789
187,919
Bicentenario (Intangible Fixed
M45 100% 80,151 -2,531
82,682
Assets), the total gross investment for
A. Eje Aeropuerto M12 100% 298,685 -21,224
319,909
the year 2008 committed by the
Autovía de Aragón-T. 1 95% 26,113 1,074 25,039
concessions amounts to 810 million
Metro Ligero Oeste 51% 559,215 46,657
512,558
Euros.
Móstoles Navalcarnero 100% 39,104 39,104
-
Conmex 87% 488,830 132,162
356,668
Amozoc-Perote 55% 162,780 5,437
157,343
Libramiento Puebla 100% 3,261 3,261
-
Viaducto Bicentenario 100% 13,174 13,174
-
Fumisa 50% -60,078
60,078
Percentage
Puerto de Alicante 50% 47,547 12,656
34,891
Integration
OTHER Others 46,167 18,316
27,851
TOTAL 2,990,275 2,653,274 337,001
29
32. Viaducto Bicentenario
Viaducto Bicentenario
Viaducto Bicentenario, S.A. de C.V.
OHL Concesiones Stake 100 %
Client Government of Mexico
Concession Period May 2008
May 2038
Total Investment 1.2 billion Euros
Length 32 km
Toll Booths 20
• Viaduct over the Mexico-Queretaro highway, one
of the most congested in the country with an
average daily traffic of 300,000 vehicles.
• It is estimated that the Viaduct will capture 10% of traffic in its first phase, but as the highway gradually
enters into operation, the traffic will be incremented significantly.
• The toll fee is adjusted annually by the inflation (INPC), or in any period in which the index rises
above 5%.
• Structured in three phases with a similar investment for each phase. The second and third phases will
begin when a certain level of traffic is achieved in phases one and two respectively.
32
33. Viaducto Bicentenario
1. Phase 1: Reversible three lane viaduct of 22 km of length between the border of the State of
Mexico with the Federal District in “el Toreo” until the conexion of the Circuito Exterior
Mexiquense with the Mexico-Queretaro highway.
• The first tranche of this phase is of 4.3 km in length, should begin operations this year.
2. Phase 2: Three lane viaduct of 22 km parallel to the viaduct of Phase 1. With the construction of
this second viaduct the first viaduct ceases to be reversible.
• Beginning of construction is estimated for the year 2016, once it has reached a level of
traffic of 50,000 vehicles.
3. Phase 3: 10 km prolongation of both viaducts towards the north, giving the concession a total of 32
km in length.
• Construction is estimated to begin in the year 2027 once it has reached a level of traffic of
180,000 vehicles per day.
• The project is integrated inside Valle de México metropolitan zone highway system, with
connections to the Distrito Federal and Circuito Exterior Mexiquense’s future viaduct.
• The collection system is automatic with a barrier control at the entrance and is charged by
actual km use.
• The vehicle identification system at the exit of the viaduct is done by a new portal frame
developed jointly by OHL Concesiones and Indra .
33