Acciona Sa · BME:ANA

Acciona Sa — H1 2009 Earnings Presentation

31 slides from Acciona Sa's earnings presentation, Jul 28, 2009

  1. Slide 1: 1H 2009 Results Presentation

    1H 2009 Results Presentation 28th July 2009

  2. Slide 2: Disclaimer

    1H 2009 Results Presentation 9m 2008 RESULTS Disclaimer This document has been prepared by ACCIONA, S.A. (“ACCIONA” or the “Company”) exclusively for use during the presentation of financial results of the first semester 2009 (1H­09). Therefore it cannot be disclosed or made public by any person or

  3. Slide 3: Table of Contents

    1H 2009 Results Presentation 9m 2008 RESULTS Table of Contents 1. Key Highlights of 1H09 2. Operating Performance 3. Financial Information by Division 4. Execution of Agreement with Enel/Endesa 5. Conclusions

  4. Slide 4: Changes in the Perimeter

    1H 2009 Results Presentation 9m 2008 RESULTS Changes in the Perimeter 2009 vs. Accounting Perimeter Changes 2008 Endesa Disposal/Renewable Assets Acquisition: On the 25th of June 2009 ACCIONA, Enel and Endesa executed the 20th February Agreement in relation to the transmission of the Endesa stake to

  5. Slide 5: Table of Contents

    1H 2009 Results Presentation 9m 2008 RESULTS Table of Contents 1. Key Highlights of 1H09 2. Operating Performance 3. Financial Information by Division 4. Execution of Agreement with Enel/Endesa 5. Conclusions

  6. Slide 6: Key Highlights of 1H09

    1H 2009 Results Presentation 9m 2008 RESULTS Key Highlights of 1H09 A Further Step in the Consolidation of a Leading Sustainable Energy Company Agreement with Enel/Endesa Execution of � ACCIONA executed on the 25th June 2009 the agreement reached with Enel to sell its 25.01% stake in Endesa for €9,6

  7. Slide 7: Table of Contents

    1H 2009 Results Presentation 9m 2008 RESULTS Table of Contents 1. Key Highlights of 1H09 2. Operating Performance 3. Financial Information by Division 4. Execution of Agreement with Enel/Endesa 5. Conclusions

  8. Slide 8: P&L Main Figures

    1H 2009 Results Presentation 9m 2008 RESULTS P&L Main Figures Key Figures EBITDA Breakdown 1H 2009 By Division Jan­Jun Jan­Jun (€m) Chg. (%) 08 09 61.0% Energy Revenue 3,319 2,931 ­11.7 21.1% Infrastructures 6.2% Real Estate EBITDA 480 393 ­18.2 2.8% Water Attributable 270 1,198 343.1 Services and O

  9. Slide 9: Capex by Division

    1H 2009 Results Presentation 9m 2008 RESULTS Capex by Division (€m) Investments Jan­Jun 09 Energy 593 76.0% Energy Infrastructures 100 20.5% Infrastructures & Real Estate 60 Real State Logistics & Transport Services 9 2.0% Water Urban & Enviromental Services 19 Other Business & Financial ­1 1.6% Ser

  10. Slide 10: Debt & Liquidity Analysis

    1H 2009 Results Presentation 9m 2008 RESULTS Debt & Liquidity Analysis (i) Net Debt Breakdown (€m) Debt Amortization Schedule* (€m) By Division (€m) Net Debt % 1,999 Jan­Jun 09 o/ Total 402 Energy 5,317 72.3% 364 1,882 325 335 Infrastructures 120 1.6% 130 € million Real Estate 1,200 16.3% 213 211 13

  11. Slide 11: Table of Contents

    1H 2009 Results Presentation 9m 2008 RESULTS Table of Contents 1. Key Highlights of 1H09 2. Operating Performance 3. Financial Information by Division 4. Execution of Agreement with Enel/Endesa 5. Conclusions

  12. Slide 12: Energy

    1H 2009 Results Presentation 9m 2008 RESULTS Energy Concentrated Photovoltaic Conventional Wind Mini Hydro Biomass Solar Power Cogeneration Biofuels Solar Hydro 6

  13. Slide 13: Energy: Key Figures

    1H 2009 Results Presentation 9m 2008 RESULTS Energy: Key Figures Revenues (€m) EBITDA (€m) 36.8% 47.3% 819 ­18.3% ­36.3% Generation Reven. 302 50% 522 14% 247 Industrial & Other 26% EBITDA margin 86% 264 50% 74% ­17 Jan­Jun 08 Jan­Jun 09 Jan­Jun 08 Jan­Jun 09 Wind Load Factor (%) Prices – Spain (€/M

  14. Slide 14: Energy: Capacity and Production

    1H 2009 Results Presentation 9m 2008 RESULTS Energy: Capacity and Production MW Installed @ Jun 09 MW under Construction @ Jun 09 MW (Total) Spain International Total MW (Total) Spain International Total Wind 4,372 1,447 5,819 Wind 183 155 338 Mini Hydro 231 ­ 231 Mini Hydro ­ ­ ­ Hydro 679 ­ 679 87

  15. Slide 15: Energy: Capacity Installation

    1H 2009 Results Presentation 9m 2008 RESULTS Energy: Capacity Installation Total MW International Spain +43% +2,104MW 679 6,975 1,096 172 22% 157 4,871 29% Wind Mini Hydro Conventional Hydro 71% 78% Dec­08 1H 2009 Endesa Wind Endesa Mini Endesa Hydro Jun­09 ACCIONA Hydro 9

  16. Slide 16: Infrastructures

    1H 2009 Results Presentation 9m 2008 RESULTS Infrastructures Construction Concessions Real Estate 10

  17. Slide 17: Infrastructures: Key Figures

    1H 2009 Results Presentation 9m 2008 RESULTS Infrastructures: Key Figures Revenues (€m) EBITDA (€m) 6.3% 5.0% 1.7% ­18.9% 1,664 1,692 105 2% 2% 85 15% 16% Const. & Eng Concessions 98% EBITDA margin 98% 85% 84% Jan­Jun 08 Jan­Jun 09 Jan­Jun 08 Jan­Jun 09 � Construction in Spain showed flat volumes wi

  18. Slide 18: Infrastructures: Construction

    1H 2009 Results Presentation 9m 2008 RESULTS Infrastructures: Construction Construction Backlog Breakdown Construction Backlog Breakdown By Business By Geography (Million Euro) jun­08 jun­09 Chg. (%) Weight (%) Civil works (Spain) 4,003 4,153 4% 58% Civil works (International) 1,338 1,221 ­9% 17% To

  19. Slide 19: Infrastructures: Concessions

    1H 2009 Results Presentation 9m 2008 RESULTS Infrastructures: Concessions � Revenues up by 25% to €37m � Increased international contribution � Very young concessions portfolio � Book value of concessions as of June 2009: €738m (equity and debt) � Recently awarded the contract to build and run the F

  20. Slide 20: Infrastructures: Real Estate

    1H 2009 Results Presentation 9m 2008 RESULTS Infrastructures: Real Estate Revenues (€m) EBITDA (€m) 143 29.1% 23.9% ­27.0% 8% 18% 42 ­40.1% 104 Parkings 15% 11% Rental Assets 25 74% 22% Development 41% 25% 67% EBITDA margin 44% 65% 10% Jan­Jun 08 Jan­Jun 09 Jan­Jun 08 Jan­Jun 09 � This division is s

  21. Slide 21: Services and Other Businesses

    1H 2009 Results Presentation 9m 2008 RESULTS Services and Other Businesses Services Other Businesses Logistic & Transport Urban & Environmental Asset Management Media (GPD) Winery 15

  22. Slide 22: Logistic & Transport Services: Key Figures

    1H 2009 Results Presentation 9m 2008 RESULTS Logistic & Transport Services: Key Figures Revenues (€m) EBITDA (€m) ­13.1% Other 425 369 Trasmediterránea 21% Handling 17% n.m. 3.5% EBITDA margin +€33m 62% 65% 13 6 31% 36% 17% 18% 8 33% Jan­Jun 08 Jan­Jun 09 ­34 ­20 Jan­Jun 08 Jan­Jun 09 � As a result

  23. Slide 23: Logistic & Transport Services: Trasmediterránea

    1H 2009 Results Presentation Logistic & Transport Services: 9m 2008 RESULTS Trasmediterránea Restructuring Plan on Track Sales OPEX EBITDA 1H 2009 €264m 1H 2008 €239m Fuel & Other Salaries Port Charges/Tax Reparation & Conservation +€5m Other ­€34m Sales Reduction OPEX Reduction EBITDA Increase ­€25

  24. Slide 24: Urban & Environmental Services: Key Figures

    1H 2009 Results Presentation Urban & Environmental Services: 9m 2008 RESULTS Key Figures Revenues (€m) EBITDA (€m) 7.4% 6.3% ­5.1% Mémora ­19.1% 354 26 336 Agua 13% Other 21 8.5% 64% 43% EBITDA margin 40% 35.2% 47% 60% 36% 57% 53% 40% Jan­Jun 08 Jan­Jun 09 Jan­Jun 08 Jan­Jun 09 � Revenues amounted t

  25. Slide 25: Urban & Environmental Services: Agua

    1H 2009 Results Presentation 9m 2008 RESULTS Urban & Environmental Services: Agua � Consolidation as key strategic business of the Group: – ACCIONA Agua’s revenues up 51% and EBITDA up 7% to €192m and €11m respectively – Water business increases its weight on EBITDA of the division to 53% (vs. 40% i

  26. Slide 26: Other Businesses: Key Figures

    1H 2009 Results Presentation 9m 2008 RESULTS Other Businesses: Key Figures Revenues (€m) EBITDA (€m) 37.0% 28.2% ­36.8% 74 EBITDA margin 27 ­51.7% 47 13 Jan­Jun 08 Jan­Jun 09 Jan­Jun 08 Jan­Jun 09 � Includes: – Bestinver – “Bodegas Hijos de Antonio Barceló” winery business – Media (GPD) � Bestinver

  27. Slide 27: Table of Contents

    1H 2009 Results Presentation 9m 2008 RESULTS Table of Contents 1. Key Highlights of 1H09 2. Operating Performance 3. Financial Information by Division 4. Execution of Agreement with Enel/Endesa 5. Conclusions

  28. Slide 28: Execution of the Agreement with Enel/Endesa

    1H 2009 Results Presentation Execution of the Agreement 9m 2008 RESULTS with Enel/Endesa � Crystallized capital gain Sale of the 25.01% of Endesa to Enel � Improvement of the financial flexibility � Consolidating platform for growth Acquisition of � Consolidation of world leading renewable energy co

  29. Slide 29: Table of Contents

    1H 2009 Results Presentation 9m 2008 RESULTS Table of Contents 1. Key Highlights of 1H09 2. Operating Performance 3. Financial Information by Division 4. Execution of Agreement with Enel/Endesa 5. Conclusions

  30. Slide 30: Conclusions

    1H 2009 Results Presentation 9m 2008 RESULTS Conclusions Results affected by challenging environment Investment focus on core activities generating over 90% EBITDA Successful execution of the Agreement with Enel/Endesa: #2 global renewable player + crystallized capital gain + degearing + 22

  31. Slide 31: 1H 2009 Results Presentation

    1H 2009 Results Presentation 28th July 2009

Acciona — H1 2009 Earnings Presentation on 6ix