Abengoa Sa · OTC:AGOAF

Abengoa Sa — Q1 2010 Earnings Presentation

20 slides from Abengoa Sa's earnings presentation, May 13, 2010

  1. Slide 1: First Quarter 2010 Earnings Presentation

    ABENGOA Innovative Solutions for Sustainability First Quarter 2010 Earnings Presentation May, 13th 2010 (Non-audited figures)

  2. Slide 2: Forward-Looking Statement

    ABENGOA Q1 2010 Earnings Presentation Forward-Looking Statement Innovative Solutions for Sustainability ƒ This presentation contains forward-looking statements and information relating to Abengoa that are based on the beliefs of its management as well as assumptions made and information currently av

  3. Slide 3: Agenda

    ABENGOA Q1 2010 Earnings Presentation Agenda Innovative Solutions for Sustainability 1 Q1 2010 Highlights 2 Q1 2010 Detailed Financial Analysis 3 Q&A 3

  4. Slide 4: Highlights

    ABENGOA Q1 2010 Earnings Presentation Highlights Innovative Solutions for Sustainability ii Positive Positive operating operating performance performance iiii Well Well diversified diversified by by business business and and geographies geographies iii iii Strong Strong backlog backlog iv iv Deliver

  5. Slide 5: Agenda

    ABENGOA Q1 2010 Earnings Presentation Agenda Innovative Solutions for Sustainability 1 Q1 2010 Highlights 2 Q1 2010 Detailed Financial Analysis 3 Q&A 5

  6. Slide 6: IFRIC 12

    ABENGOA Q1 2010 Earnings Presentation IFRIC 12 Innovative Solutions for Sustainability ‰ Application of the IFRIC 12 (1) on Service Concession Arrangements for the first time as from January 1st 2010. ‰ IFRIC 12 applies to arrangements in which the grantor: 9 controls or regulates the services provi

  7. Slide 7: Q1 2010: Highlights (P&L)

    ABENGOA Q1 2010 Earnings Presentation Q1 2010: Highlights (P&L) Innovative Solutions for Sustainability Profitable growth in P&L Main Figures Proforma (*) M€ Q1 2010 Q1 2009 YoY % Q1 2009 YoY % ‰ Sales 1,208 981 +23% 1,061 +14% ‰ Ebitda 202 176 +15% 191 +6% ‰ Net Income 54 41 +32% 51 +6% ‰ Ebitda Ma

  8. Slide 8: P&L Account

    ABENGOA Q1 2010 Earnings Presentation P&L Account Innovative Solutions for Sustainability Proforma M€ Q1 2010 Q1 2009 YoY % Q1 2009 YoY % Sales 1,208 981 +23% 1,061 +14% Ebitda 202 176 +15% 191 +6% Depreciation & amortization expense (53) (64) (18%) (64) (18%) Net operating profit 149 112 +34% 127 +

  9. Slide 9: Sales: contribution by Business Unit

    ABENGOA Q1 2010 Earnings Presentation Sales: contribution by Business Unit Innovative Solutions for Sustainability 1,300.0 37 (14) + 29 (+7%) (-7%) 1,208 1,200.0 + 95 (+18%) + 2 Solar (+53%) execution: Solid recovery in (+6%) • Renewables (16) Information Tech. waste management 1,100.0 1,061 • Trans

  10. Slide 10: Ebitda: contribution by Business Unit

    ABENGOA Q1 2010 Earnings Presentation Ebitda: contribution by Business Unit Innovative Solutions for Sustainability 300.0 +6 (4) 17 (8) (+26%) (-14%) (+116%) (-7%) 202 200.0 (3) Solar 191 Volume waste (-23%) Volumes Margin (1) Information Tech. (-5%) Margin ∆ + 6% 100.0 Q1 2009 Bioenergy Environment

  11. Slide 11: Distribution by Business Units

    ABENGOA Q1 2010 Earnings Presentation Distribution by Business Units Innovative Solutions for Sustainability Well Well diversified diversified by by business business … … Evironm. Inform. Industrial Solar Bioenergy Consolidated Services Technol. E&C Sales (M€) 41 274 188 160 545 1,208 Sales '09 39 1

  12. Slide 12: …and geographies

    ABENGOA Q1 2010 Earnings Presentation …and geographies Innovative Solutions for Sustainability International International Activity Activity represents represents 65% 65% of of Total Total Consolidated Consolidated Sales Sales € in Millions 2009 Q1 2010 % % reformulated US 182,5 15,1% 576,9 12,4% La

  13. Slide 13: Backlog

    ABENGOA Q1 2010 Earnings Presentation Backlog Innovative Solutions for Sustainability Order Order book book covers covers 33 33 months months of of sales sales in in contracting contracting activities activities (*) (*) Portfolio % over € in Millions Mar. 2010 Dec.09 Total contracting portfolio (ex

  14. Slide 14: Q1 2010: Highlights (Balance Sheet)

    ABENGOA Q1 2010 Earnings Presentation Q1 2010: Highlights (Balance Sheet) Innovative Solutions for Sustainability More More than than €2,4 €2,4 billions billions in in cash cash and and equivalents equivalents (€ in Million) 31 Mar.10 YoY % 31 Dec.09 ‰ Fixed assets corporate 3,576 +7% 3,355 ‰ Fixed

  15. Slide 15: Net Debt Analysis & Covenant

    ABENGOA Q1 2010 Earnings Presentation Net Debt Analysis & Covenant Innovative Solutions for Sustainability Net Net Debt/Ebitda Debt/Ebitda ratios ratios in in line line with with previous previous periods periods (€ in Million) 31 Mar.10 31 Dec.09 30 Jun.09 Net corporate debt + Corporate debt 4,147

  16. Slide 16: Corporate Debt: Recent events Q1 2010

    ABENGOA Q1 2010 Earnings Presentation Corporate Debt: Recent events Q1 2010 Innovative Solutions for Sustainability Successful extension of syndicated bank facilities via a Forward Start Facility of 1,571 M€ ƒ Extension signed on 22 April 2010 ƒ Higher amount extended than the initial target (102.5%

  17. Slide 17: Corporate Debt: Recent events Q1 2010

    ABENGOA Q1 2010 Earnings Presentation Corporate Debt: Recent events Q1 2010 Innovative Solutions for Sustainability Proven access to capital markets in a context of high volatility ƒ 250 M€ 4.5% senior unsecured convertible notes due in 2017 issued by Abengoa SA in February 2010 ƒ 500 M€ 8.5% senior

  18. Slide 18: Main Projects in Execution: Timeline

    ABENGOA Q1 2010 Earnings Presentation Main Projects in Execution: Timeline Innovative Solutions for Sustainability 2010 2011 2012 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Solnova 1 Solnova 3 9 Start-up Q2 2010 Start-up Q2 10 Solar Algeria Start-up Q4 10 Solnova 4 Start

  19. Slide 19: Agenda

    ABENGOA Q1 2010 Earnings Presentation Agenda Innovative Solutions for Sustainability 1 Q1 2010 Highlights 2 Q1 2010 Detailed Financial Analysis 3 Q&A 19

  20. Slide 20: First Quarter 2010

    ABENGOA Innovative Solutions for Sustainability First Quarter 2010 Earnings Presentation May, 13th 2010 (Non-audited figures)

Abengoa — Q1 2010 Earnings Presentation on 6ix