Acciona Sa · BME:ANA
Acciona Sa — Investor Presentation (January 2013)
30 slides from Acciona Sa's investor presentation, January 2013
Slide 1: January 2013
January 2013
Slide 2: Global Water Market, ACCIONA Agua Today, ACCIONA Agua Tomorrow
1 Global Water Market 2 ACCIONA Agua Today 3 ACCIONA Agua Tomorrow
Slide 3: Global Water Market
Phisical & Social GLOBAL Intensive Local Commodity Municipalities Very local Industry Services WATER Not Selling Water Equipment Infrastructure MARKET Water is more a “social commodity” than a economic market Water is free in nature Water is a basic necessity Infrastructure Subsidized
Slide 4: Where is the business?
Where is the business? SCARCITY URBANISATION • More than 40% of Population. • More than 50% of Population today today lives in areas with water lives in cities. stress. • Environmental impacts • Water is not “free”. • Health issues • Population rises. • Quality of life issues • Water for Resources (
Slide 5: Water Demand
Water Demand SCARCITY Liters per Capita per Day 200 150 100 50 0 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 Population 2012: Population 2050: 7,000 M 9,000 M Source: Global Water Intelligence
Slide 6: Scarcity: Drinking water CAPEX and OPEX
SCARCITY Drinking water CAPEX 150,000 120,000 High Value & Technology 90,000 Business $ billion 60,000 30,000 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Water Resources (including desalination) Water Treatment Plants (new and rehabilitation) Water distribution networks (new building and reh
Slide 7: Urbanisation: Wastewater CAPEX and OPEX
URBANISATION Wastewater CAPEX 120,000 100,000 High Value & Technology 80,000 Business $ billion 60,000 40,000 20,000 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Wastewater Networks (new and rehabilitation) Water Treatment Plants (other) Wastewater Opex 130,000 110,000 $ billion 90,000 Wastew
Slide 8: The Investment GAP
The Investment GAP Catch -up requirements : $571bn WATER RESOURCES CAPEX Security of supply $30bn High Value & Technology Up-grading Business regulations $180bn 18% Closing infrastructure gap $67bn PLANTS (Potable & Waste Water) High Value & Catching up on past depreciation Technology $83 bn Busines
Slide 9: Water Infrastructure CAPEX
Water Infrastructure CAPEX (M€) 250 Tariff Growth 200 Capital contributions 150 International aid $ billion Net international financial institution debt 100 Net commercial debt and equity 50 Net municipal lending Operating cashflow 0 2010 2016 Source: Global Water Intelligence
Slide 10: The business is here
The business is here Trends Consequences More Technology Need of more & New Resources New Regulations SCARCITY More Efficiency More Equity ALL BUSINESS OPPORTUNITIES More Private participation Solve Environmental Issues URBANIZATION Solve Health Issues Need to increase water Reuse Sludge Disposal &
Slide 11: ACCIONA Agua Today
ACCIONA ACCIONA AGUA AGUA TODAY TODAY 2. ACCIONA Agua Today • Our Global Position • Our Model • SWOT • Internal Challenges
Slide 12: Our global visibility and position
Our global visibility and position • Desalination: Worldwide leader – 70 References – 2 million m3/d. • Conventional Drinking & Wastewater: Top 3 – 400 references – The largest WWTP in the world • Operation & Maintenance: – International Player in 2-3 years. – More than 100 conventional plants opera
Slide 13: International market: Competitors (D&C + O&M)
International market: Competitors (D&C + O&M) 400 m€ €1.2 b €1.5b €M SPAIN CADAGUA KOREA ABENGOA VALORIZA DOOSAN INIMA SAMSUNG AQUALIA MEXICO ATLATEC SINGAPOURE HYFLUX BRAZIL ODEBRECHT ISRAEL IDE Turnover in D&C and O&M: public information as of December 2011
Slide 14: Turnover - EBT - EBITDA
Turnover - EBT - EBITDA TURNOVER & EBITDA 700 100 90 600 512 80 500 438 454 70 413 400 370 60 M€ 50 300 275 227 40 197 200 30 20 100 10 0 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 30 EBT 25 EBT EBI 20 17 16 M€ 15 10 9 11 10 8 7 5 0 2005 2006 2007 2008 2009 2010 2011 2011 2012 2013
Slide 15: ACCIONA Agua Backlog
ACCIONA Agua Backlog BACKLOG 6,000 5,080 4,812 5,000 D&C 4,747 €830m 4,000 4,538 3,268 M€ 3,595 O&M 3,000 €1,733m 2,441 2,000 SERVICES €2,517m 1,000 0 2006 2007 2008 2009 2010 2011 Oct-12 ATLL NOT INCLUDED
Slide 16: 2012 New Contracts
2012 New Contracts Siniscola Italy Santomera & La Union ATLL: Privatization Fujairah SWRO EL CARACOL México Al Jubail SAN JOSE SWRO Costa Rica RABAT Morocco O&M HADDA 1 & ARANA 1 EL BELLO Colombia ELWASTEWATER SERVICES/O&M/ DRIKING WATER DESALINATIONS TREATMENT PLANT PRIVATIZATION TREATMENT PLANTS P
Slide 17: ATLL contract
ATLL contract 50 Years Concessions Capacity: 211 hm3 (equivalent to 300 Olympic Swimming pools/day) POPULATION: 5 million (over 7.6 million) and 116 municipalities
Slide 18: Total Solution Provider
Total Solution Provider CLIENT Water Facilities Concessions Design Construction O&M Concessions / Integral (BOT) Services Spain NO MARKET Intern. NO PRESENCE NO PRESENCE R+D Business Business Consuming Providing Cash Equity
Slide 19: ACCIONA Agua Tomorrow
ACCIONA AGUA TOMORROW 2. Future Development • Regulatory Business • Industrial Sector • O&M: Searching new markets
Slide 20: Looking for more profitability
Looking for more profitability BUSINESS MODEL -Differentiation INTERNATIONAL -Market “Niches” CLIENTS IMPLEMENTATION -Less competitors INNOVATION -More profitability
Slide 21: Business Model
Business Model BUSINESS MODEL Water Price in Spain is “still” very low
Slide 22: Business Model Water Services in Spain
Business Model Water Services in Spain BUSINESS MODEL Important activity expected for water services in Spain Burgos 180,000 hab. Reus 100,000 hab. • Privatisation forecast: from50% to 60%/70% • Regional WW & Sanitation plans to come up as concessions (i.e. Castilla La Mancha) Lugo 98,000 hab. • Pri
Slide 23: Clients
Clients CLIENTS 250 Largest companies addressing water issues in their CR reports 100% 100% 95% 92% 90% 81% 80% Mining Pharmaceuticals Electronics & Oil & Gas Food & Automotive Metal & Computers Beverage Engineering 75% 75% 74% 71% 66% 62% 50% Chemical & Construction & Communications Finance, Trade
Slide 24: Water Business: Industrial Segment
Clients CLIENTS Water Business: Industrial Segment 14000 Others 12000 10000 Mining CAGR 11.4% $ million 8000 Power Generation 6000 4000 Refining and petrochemicals 2000 Oil and gas 0 2011 2012 2013 2014 2015 2016 2017 2025 Source: Global Water Intelligence
Slide 25: Innovation: R+D+I mission
Innovation INNOVATION R+D+I mission: two obsessions… 1. Business Support 2. Thinking Ahead
Slide 26: Innovation Business Support
Innovation INNOVATION Business Support INNOVATION Future Bids SWRO Al Jubail 2012 ActiDaff-Evolution SWRO Fujairah UltraDaff® UltraDaf-Evolution 2011 Speed FLoater (External Provider) SWRO Torrevieja 2005 ActiDaff® Own Technology 35 % CAPEX Saving
Slide 27: Innovation: Thinking Ahead, Forward Osmosis
Innovation INNOVATION INNOVATION Thinking Ahead:5 or more years New Technologies Forward Osmosis •Technology based on the natural osmosis •It uses a salt which precipitates or evaporates as the temperature of the water increases •It takes advantage of residual heat as well as solar energy
Slide 28: International Implementation
INTERNATIONAL IMPLEMENTATION Spain, Italy & Portugal BIG CITIES & SCARCITY MENA LATAM SCARCITY BIG CITIES ASIA / PACIFIC
Slide 29: Thank You
Jacciona Agua
Slide 30: January 2013
January 2013