Abengoa Sa · OTC:AGOAF
Abengoa Sa — 9M 2008 Earnings Presentation
16 slides from Abengoa Sa's earnings presentation, Nov 13, 2008
Slide 1: First Nine Months 2008 Earnings Presentation
First Nine Months 2008 With the sun … we produce Earnings Presentation thermoelectric and photovoltaic electric energy 13 November, 2008 With biomass … we produce ecologic biofuels and animal feed With wastes … produce new materials through recycling, and we treat and desalinate water With Informati
Slide 2: Forward-Looking Statement
ABENGOA Forward-Looking Statement This presentation This presentation contains contains forward-looking forward-looking statements statements and and information relating information relating toto Abengoa Abengoa thatthat are are based based on on the the beliefs beliefs of of its its management as
Slide 3: Agenda
ABENGOA Agenda 1. 9M 2008 Highlights 2. 9M 2008 Detailed Financial Analysis 3. Q&A 3
Slide 4: 9M 2008: Main Figures
ABENGOA 9M 2008: Main Figures Strong growth in Ebitda and Net Income YoY % Sales 2,583.5M€ + 17.5% Operating Cash Flow 467.2 M€ + 74.3% Ebitda 393.2 M€ + 61.9% Profit before tax 129.1 M€ + 19.7% Net Income 100.6 M€ + 25.1% Net Income pro-forma (1) 95.7 M€ + 19.0% EPS 1.11 € + 25.1% (1)
Slide 5: International Activity
ABENGOA International Activity International Activity represents 66.7% of total Sales Total Abroad 1,724.1 M€ (66.7%) Europe (ex Spain) 393.5 M€ (15.2%) Asia US and Canada 48.3 M€ (1.9%) 461.7 M€ (17.9%) Total Spain 859.8 M€ (33.3%) Africa 227.6 M€ (8.8%) Latin America 588.6 M€ (22.8%) Oceania 4.4 M
Slide 6: Agenda
ABENGOA Agenda 1. 9M 2008 Highlights 2. 9M 2008 Detailed Financial Analysis 3. Q&A 6
Slide 7: Sales, Operating Cash Flow, Ebitda and Net Income
ABENGOA € in Millions Sales Operating Cash Flow Sustained Revenue Growth Improved Operating Performance 3.214,5 452,4 467,2 2.677,2 2.583,9 2.199,3 268,0 287,9 % % 57.2 74.3 % 17.5 % 20.1 14.1% 16.3% 10.7% 12.3% 2006 2007 9M 9M 2006 2007 9M 9M 2007 2008 2007 2008 Ebitda Net Income 383,7 393,2 120,4
Slide 8: Contribution by Business Unit: Sales Growth
ABENGOA Contribution by Business Unit Sales Growth € in Millions 3.000,0 + 358.7 (+38.7%) Increase in execution: 2.750,0 (307.5) - Solar (internal sales) - Ethanol 2,583.9 + 182.6 - Transmission (+17,5%) (+42.4%) 2.500,0 +89.7 Brazil + 150.8 +87.2 Ravenna (+15.9%) 2.250,0 +12.7 Solar (+ 76.5%) 2,199
Slide 9: Contribution by Business Unit: Ebitda Growth
ABENGOA Contribution by Business Unit Ebitda Growth € in Millions (21.7) 393.1 + 95.1 (+61.9%) 400,0 (+83.7%) (internal Ebitda) 375,0 Higher margins in transmission in Brazil 350,0 + 48.4 (+63.3%) 325,0 Non-recurrent 300,0 profit (land 353.2 (+45.4%) + 28.4 divestment) non including land 275,0 (+39.
Slide 10: Homogenous Net Profit
ABENGOA Homogenous Net Profit Net Profit Growth € in Millions 110,0 100,0 100,6 (16,8) 90,0 + 20,2 +25.1% + 11.9 95.7 80,0 +19% 70,0 80,4 60,0 50,0 9M 2007 Business Units 9M 2008 Land divestment Changes in 9M 2008 Consolidation pro forma Perimeter 10
Slide 11: P&L Account
ABENGOA € in Millions, except EPS P&L Account 9M 2008 9M 2007 Var (%) Net turnover 2.584 2.199 17% Operating Cash Flow * 467 268 74% Ebitda 393 243 62% Depreciation and amortization expense (120) (57) 112% Net Operating Profit 273 186 47% Net Financial Loss (144) (78) 84% Consolidated Profit before
Slide 12: Intragroup activities and business unit results
ABENGOA Intragroup activities fully eliminated at Consolidated P&L… …but relevant for cash-flow generation perspective Net Profit eliminated is recovered over the life of the project as a lower depreciation charge. Elimination of 414.4 M€ of sales, 40.1 M€ of Ebitda and 24.7 M€ of Net Profit
Slide 13: Enclosed Quarters: Margins
ABENGOA Enclosed Quarters: Margins Strong Strong operating operating performance performance in in all all our our business business 20% 16,2% 13,3% Solar 10% 8,9% 0% 15% 11,6% Bioenergy 10% 8,1% 9,4% 5,9% 5% Environm. 30% 33,1% Services 21,0% 20% 14,4% 12,0% 13,9% pro forma 10% 15% Information 11,6
Slide 14: Main Projects in Execution
ABENGOA Main Main Projects Projects in in execution execution Projects timeline 2008 2009 2010 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 PS 20 Start-up Q1 09 Solnova 1 Start-up Q4 09 Solnova 3 Start-up Q2 10 Solar Algeria Q3 10 Start-up Solnova 4 Q4 10 APS Investment Ta
Slide 15: Agenda
ABENGOA Agenda 1. 9M 2008 Highlights 2. 9M 2008 Detailed Financial Analysis 3. Q&A 15
Slide 16: First Nine Months 2008 Earnings Presentation
First Nine Months 2008 With the sun … we produce Earnings Presentation thermoelectric and photovoltaic electric energy 13 November, 2008 With biomass … we produce ecologic biofuels and animal feed With wastes … produce new materials through recycling, and we treat and desalinate water With Informati