Acs, Actividades De Construccion Y Servicios Sa · BME:ACS

Acs, Actividades De Construccion Y Servicios Sa — Grupo ACS — Q1 2012 Earnings Presentation

14 slides from Acs, Actividades De Construccion Y Servicios Sa's earnings presentation, May 8, 2012

1. Slide 1: 1Q/12 Results Presentation

   1Q/12 Results Presentation May 8th, 2012

2. Slide 2: Disclaimer

   Disclaimer This document contains forward‐looking statements on the intentions, expectations or forecasts of Grupo ACS or its management at the time the document was drawn up and in reference to various matters including, among others, its customer base, base its performance, performance the foresee

3. Slide 3: YTD Relevant facts

   YTD Relevant facts R ili t operating Resilient ti performance f Debt reduction red ction plan bein being e executed ec ted Assets sale process continues advancing 1st Quarter 2012 – Results Presentation 3

4. Slide 4: Resilient operating performance

   Resilient operating performance Sales € 9,035 mn +145% Comparable sales* +4.9% Backlog € 67.92 bn +146% EBITDA € 664 mn +73 4% +73.4% Margin 7.4% EBIT € 317 mn +2.4% M i Margin 3 5% 3.5% Net Profit € 207 mn +1.3% * Including HOCHTIEF sales in 2011 1st Quarter 2012 – Results Presentation 4

5. Slide 5: Profit contribution by activity

   Profit contribution by activity € million 1Q11 1Q12 Var. Reported Net Profit 204 207 +1 3% +1.3% Plus: Extraordinary losses & provisions 84 L Less: Capital C i l gains i (Clece (Cl sale l in i 1Q12) (29) (150) Plus: Iberdrola contribution adjustment* 70 68 Total Exceptional 41 2 Pro-forma Comparable

6. Slide 6: Resilient operating performance

   Resilient operating performance Int’l sales (+14.4% exHOT) partly compensate Spain’s drop  Significant increase in Dragados  Industrial Services International sales grow International (+8.7%) by 20.2%, led by a +35.5% growth in EPC Anti ‐ cyclical activities in Spain remains solid  Waste Treatmen

7. Slide 7: Debt reduction plan being executed

   Debt reduction plan being executed Net debt € 10.5 bn Hochtief AG € 1.9 bn ACS ex‐Hochtief AG € 8.6 bn  Debt level ex HOT contained to similar to Dec‐11 Dec 11 levels  ACS net debt ex HOT as of today is c. € 7.4 bn due to:  Sale of IBE stake for € 798 mn  Sale of ABE whole stake for € 875 mn ((c

8. Slide 8: Net Debt as of March 31st, 2012

   Net Debt as of March 31st, 2012 Hochtief AG € 1,864 mn Net Debt with Rest of activities € 921 mn recourse € 4,661 mn Holding € 1,876 mn TTreatment plants l Net Debt Project finance € 190 mn € 449 mn € 10,496 mn Energy Projects € 59 mn Concessions € 200 mn Non recurse Debt on the Debt SPVs IBE € 4,68

9. Slide 9: Pro-forma Net Debt as of now

   Pro‐forma Net Debt as of now Iberdrola Sale c. € 0.8 bn Abertis Sale c € 0.4 c. 0 4 bn Iberdrola non recourse debt in Net Debt SPVs drops to c. € 4.0 4 0 bn b € 10.5 bn Excluding Net Debt H hti f AG nett Hochtief debt, it accounts c. € 9.3 bn for € 7.4 7 4 bn 31st March 2012 Now 1st Quarter 2012 – R

10. Slide 10: Cash Flow from Operating Activities 3M12

    Cash Flow from Operating Activities 3M12 Cash Flow before Working Capital requirements +120% +32.1% Cash flow WC variation from ACS exHOT Cash C h flow fl operating from € (127) mn +2.4% activities operating before WC activities Cash flow from Seasonal effect before WC ACS operating Working & Domest

11. Slide 11: Asset sales process continues advancing

    Asset sales process continues advancing 23.5% of Clece sold for € 80 mn  Total EV of € 506 mn  Co‐management Co management agreement ; change of consolidation method  € 150 mn of capital gains Renewable assets sale process on the way  370 MW of wind already sold in 2012; 115 MW remaining  Therm

12. Slide 12: IBE & ABE deals performed to reinforce cash position

    IBE & ABE deals performed to reinforce cash position Sale of a 3.69% of Iberdrola Sale of Abertis legacy stake Sold in the market for 3.62 Mature asset with a new €/sh, totalingg € 798 mn wave of core shareholders  Non recourse debt reduction ACS obtained total cash of € of € 700 mn (margin loan) 8

13. Slide 13: Conclusions

    Conclusions Resilient operating activities: International sales exHOT +14.4% HOT sales +13.3% Debt b reduction d i commitment i demonstrated d d Valuable and attractive assets on sale with demand Heritage businesses keep generating sustainable cash flow Successful industrial transformingg deal under

14. Slide 14: ACTIVIDADES DE CONSTRUCCION Y SERVICIOS reo

    ACTIVIDADES DE CONSTRUCCION Y SERVICIOS reo

Grupo ACS — Q1 2012 Earnings Presentation on 6ix