Acciona Sa · BME:ANA
Acciona Sa — Q1 2015 Earnings Presentation
25 slides from Acciona Sa's earnings presentation, 2015
Slide 1: Q1 2015 Results January - March
Q1 2015 JANUARY - MARCH MAY pes jacciona
Slide 2: Contents
Q1 2015 Results (January – March) CONTENTS 1. EXECUTIVE SUMMARY 2. CONSOLIDATED INCOME STATEMENT 3. CONSOLIDATED BALANCE SHEET 4. RESULTS BY DIVISION 4.1. Energy 4.2. Infrastructure 4.3. Other activities 5. ANNEX 1: MATERIAL INFORMATION, DIVIDENDS AND SHARE DATA 5.1. Significant communications to th
Slide 3: Reporting basis and divisions (IFRS)
Q1 2015 Results (January – March) In accordance with Regulation 1606/2002 of the European Parliament and of the Council of 19th July 2002, for each financial year starting on or after 1st January 2005, companies governed by the law of a Member State must prepare their consolidated accounts in confor
Slide 4: 1. Executive Summary
Q1 2015 Results (January – March) 1. EXECUTIVE SUMMARY Income Statement Data (Million euro) Jan-Mar 14 Jan-Mar 15 Chg. (%) Revenues 1,402 1,528 9.0% EBITDA 226 280 24.3% EBIT 129 150 15.8% Ordinary EBT 13 66 406.0% EBT 41 66 63.0% Net attributable profit 33 42 28.5% Balance Sheet Data and Capital Ex
Slide 5: 2. Consolidated Income Statement
Q1 2015 Results (January – March) 2. CONSOLIDATED INCOME STATEMENT (Million Euro) Jan-Mar 14 Jan-Mar 15 Chg. Chg. (€m) (€m) (€m) (%) Revenues 1,402 1,528 126 9.0% Other revenues 73 70 -2 -3.4% Changes in inventories of finished goods and work in progress -12 5 17 n.m. Total Production Value 1,463 1,
Slide 6: Revenues
Q1 2015 Results (January – March) Revenues Revenues (Million Euro) Jan-Mar 14 Jan-Mar 15 Chg.(€m) Chg.(%) Energy 487 640 154 31.6% Infrastructure 789 789 0 -0.1% Construction 524 535 10 2.0% Water 105 89 -17 -15.7% Service 159 165 6 3.7% Other Activities 151 127 -25 -16.3% Consolidation Adjustments
Slide 7: EBIT and EBT
Q1 2015 Results (January – March) EBIT EBIT reached €150 million, a 15.8% higher than in Q1 2014. EBT EBT (Million Euro) Jan-Mar 14 Jan-Mar 15 Chg.(€m) Chg.(%) Energy 12 65 52 425.3% Infrastructure 8 10 2 30.0% Construction 9 5 -3 -39.3% Water 3 6 3 90.8% Service -4 -1 3 -68.0% Other Activities -8 -
Slide 8: 3. Consolidated Balance Sheet
Q1 2015 Results (January – March) 3. CONSOLIDATED BALANCE SHEET (Million Euro) 31-Dec-14 31-Mar-15 Chg. Chg. (€m) (€m) (€m) (%) Property, Plant & Equipment and Intangible assets 8,733 8,976 244 2.8% Financial assets 546 549 3 0.6% Goodwill 79 79 0 0.0% Other non-current assets 1,414 1,505 92 6.5% NO
Slide 9: Attributable Equity and Net Financial Debt
Q1 2015 Results (January – March) Attributable Equity ACCIONA’s attributable equity as of 31st March 2015 amounted to €3,448 million, a 2.0% higher than in December 2014. Net Financial Debt (Million Euro) 31-Dec-14 31-Mar-15 Chg. Chg. (€m) % Total (€m) % Total (€m) (%) Interest- bearing borrowings w
Slide 10: 4.1. Energy
Q1 2015 Results (January – March) 4. RESULTS BY DIVISION 4.1. Energy (Million Euro) Jan-Mar 14 Jan-Mar 15 Chg. (€m) Chg. (%) Generation 349 361 11 3.3% Industrial, development and others 137 280 143 104.0% Revenues 487 640 154 31.6% Generation 207 239 32 15.7% Industrial, development and others -20
Slide 11: Industrial EBITDA and installed capacity by technology
Q1 2015 Results (January – March) EBITDA from the industrial activity and development (Million Euro) Jan-Mar 14 Jan-Mar 15 Chg. (€m) Windpower -4 15 +19 Development and construction -6 -4 +2 Total EBITDA Industrial & development -11 11 +22 Breakdown of Installed Capacity and Production by Technology
Slide 12: 4.2. Infrastructure
Q1 2015 Results (January – March) 4.2. Infrastructure (Million Euro) Jan-Mar 14 Jan-Mar 15 Chg. (€m) Chg. (%) C onstruction 524 535 10 2.0% Water 105 89 -17 -15.7% Service 159 165 6 3.7% Cifra de Negocios 789 789 0 -0.1% C onstruction 22 22 0 -0.9% Water 6 3 -2 -38.5% Service 0 2 2 n.m. EBITDA 28 28
Slide 13: A. Construction
Q1 2015 Results (January – March) A. Construction (Million Euro) Jan-Mar 14 Jan-Mar 15 Chg. (€m) Chg. (%) C onstruction & Engineering 501 511 11 2.1% C oncessions 24 23 0 -1.7% Revenues 524 535 10 2.0% C onstruction & Engineering 13 13 0 -0.3% C oncessions 9 9 0 -1.8% EBITDA 22 22 0 -0.9% Margin (%)
Slide 14: Concessions
Q1 2015 Results (January – March) Concessions As of 31st March ACCIONA held a portfolio of 22 concessions with a book value of €1,459 million (€448 million “equity” and €1,0101 million net debt). Annex 3 contains the details on the concessions portfolio as of 31st March 2015. 1 It includes the debts
Slide 15: B. Water
Q1 2015 Results (January – March) B. Water (Million Euro) Jan-Mar 14 Jan-Mar 15 Chg. (€m) Chg. (%) Revenues 105 89 -17 -15.7% EBITDA 6 3 -2 -38.5% Margin (%) 5.3% 3.8% EBT 3 6 3 90.8% Margin (%) 3.1% 7.1% The Water division has shown a 15.7% decline in revenues to €89 million mainly due to the reduc
Slide 16: C. Service
Q1 2015 Results (January – March) C. Service (Million Euro) Jan-Mar 14 Jan-Mar 15 Chg. (€m) Chg. (%) Revenues 159 165 6 3.7% EBITDA 0 2 2 n.m. Margin (%) 0.2% 1.5% EBT -4 -1 3 -68.0% Margin (%) -2.6% -0.8% ACCIONA Service encompasses a series of services: airport handling services, facility services
Slide 17: 4.3. Other Activities
Q1 2015 Results (January – March) 4.3. Other Activities (Million Euro) Jan-Mar 14 Jan-Mar 15 Chg. (€m) Chg. (%) Trasmediterranea 82 87 5 5.5% Real Estate 27 9 -18 -67.2% Bestinver 34 22 -11 -33.5% Winery 7 7 0 4.5% C orp. & other 1 2 0 16.9% Revenues 151 127 -25 -16.3% Trasmediterranea -11 -3 8 n.m.
Slide 18: Real Estate and Bestinver
Q1 2015 Results (January – March) Real Estate: Real Estate revenues decreased by 67% to €9 million. EBITDA reached €1 million. Such decrease comes as a result of a change of strategy by which some of the housing stock has been put up for rent. This decision also explains the significant decrease in
Slide 19: Annex 1: Significant communications to the stock market
Q1 2015 Results (January – March) 5. ANNEX 1: MATERIAL INFORMATION, DIVIDEND AND SHARE DATA 5.1. Significant communications to the stock market 25th March 2015: ACCIONA signs a syndicated loan with banks worth €1,800 million. – ACCIONA Financiación Filiales, S.A., has signed with a syndicate of bank
Slide 20: 5.2 Dividend and 5.3 Share data and share price performance
Q1 2015 Results (January – March) 5.2. Dividend On the 26th of February 2015 the Board of Directors of ACCIONA resolved to reinstate the interim dividend against 2014 results for an amount of €2 per share. This decision is pending approval at the Annual General Meeting that is expected to take place
Slide 21: Annex 2: MWs and Productions
Q1 2015 Results (January – March) 6. ANNEX 2: MWs and PRODUCTIONS Installed capacity (MW) Production (GWh) 31-Mar-15 Total Consolidated Equity accounted Minorities Net Total Consolidated Equity account. Minorities Net Wind Spain 4,743 3,466 619 -11 4,074 3,303 2,321 477 -8 2,791 Wind International 2
Slide 22: Annex 3: Detail of Transport and Hospital Concessions
Q1 2015 Results (January – March) 7. ANNEX 3: DETAIL OF TRANSPORT AND HOSPITAL CONCESSIONS Name Description Period Duration Country ACCIONA Status Accounting method Asset type Chinook roads (SEST) Pay for availibility road integrated in the Calgary ring motorway (25km) 2010 - 2043 33 Canada 5% Opera
Slide 23: Annex 4: Detail of Water Concessions under SIC 29
Q1 2015 Results (January – March) 8. ANNEX 4: DETAIL OF WATER CONCESSIONS UNDER SIC 29 Name Description Period Country ACCIONA Status Accounting method Asset type EDAR 8B Construction, operation and maintenance of the wastewater treatment plant "08B Zone" of Aragon 2008 - 2028 Spain 100% Operational
Slide 24: Annex 5: Sustainability
Q1 2015 Results (January – March) 9. ANNEX 5: SUSTAINABILITY 9.1 Sustainability indices The results of the 2014 annual review confirm that ACCIONA is a component of the Dow Jones Sustainability Indexes (DJSI World) for the eighth consecutive year. These indexes are composed of those companies deemed
Slide 25: 10. Contact
Q1 2015 Results (January – March) 10. CONTACT Investor Relations Department -------------------- Avda. Europa, 18 Parque Empresarial La Moraleja 28108 Alcobendas (Madrid) --------------------------------- inversores@acciona.es Tel: +34 91 623 10 59 Fax: +34 91 663 23 18 25