Abengoa Sa · OTC:AGOAF
Abengoa Sa — H1 2007 Earnings Presentation
26 slides from Abengoa Sa's earnings presentation, Sep 3, 2007
Slide 1: First Half 2007 Earnings Presentation
ABENGOA First Half 2007 Earnings Presentation September, 3rd 2007 With the sun... we produce thermoelectric and photovoltaic electric energy With biomass… we produce ecologic fuels and animal feed With wastes… we produce new materials by recycling, and we also treat and desalt water to achieve a sus
Slide 2: Forward-Looking Statement
ABENGOA Forward-Looking Statement This presentation This presentation contains contains forward-looking forward-looking statements statements and and information relating information relating toto Abengoa Abengoa thatthat are are based based on on the the beliefs beliefs of of its its management as
Slide 3: Agenda
ABENGOA Agenda 1. H1 2007 Highlights 2. H1 2007 Detailed Financial Analysis 2.1. Consolidated 2.2. Business Unit 3. Q&A 3
Slide 4: H1 2007: Outstanding Performance
ABENGOA H1 2007: Outstanding Performance YoY % Revenues 1,393.6 M € + 27.9% Operating Cash Flow 170.2 M € + 40.9% Net Income 54.9 M € + 18.6% EPS 0.61 € + 18.6% Net Debt Position* -214.6 M € + 115.6% * Excluding Non-Recourse Debt 4
Slide 5: Agenda
ABENGOA Agenda 1. H1 2007 Highlights 2. H1 2007 Detailed Financial Analysis 2.1. Consolidated 2.2. Business Unit 3. Q&A 5
Slide 6: Revenues, Operating Cash Flow and Net Income
ABENGOA € in Millions Revenues Operating Cash Flow Sustained Revenue Growth Improved Operating Performance 2,677.2 % 33.0 % 287.9 2,023.5 27.9 % 216.4 40.9 1,393.6 170.2 1,089.9 120.9 3 2.3% 10.8% 10.7% 12,2% 11,1% 2005 2006 H1 2006 H1 2007 2005 2006 H1 2006 H1 2007 Net Income % 52.0 100.3 % 18.6 66
Slide 7: P&L Account
ABENGOA € in Millions, except EPS P&L Account H1 2007 H1 2006 Var (%) Net turnover 1.393,6 1.089,9 28% Operating Cash Flow * 170,2 120,9 41% Consolidated Profit before Tax 70,7 63,6 11% Consolidated Profit after-Tax 62,7 53,5 17% Profit attributable to minority interests (7,8) (7,2) 8% Profit for th
Slide 8: Contribution by Business Unit
ABENGOA Contribution by Business Unit € in Millions 1500,0 +18.9 1,393.6 1400,0 +74.8 +152.5 1300,0 BUS Revenue Growth 1200,0 +86.0 +49.6 1,089.9 +8.0 1100,0 1000,0 H1 2006 Solar Bioenergy Environm. Information Industrial E&C H1 2007 Services Technologies 200,0 180,0 +14.6 170.2 +2.8 160,0 +25.1 Op.
Slide 9: Balance Sheet
ABENGOA Balance Sheet € in Millions, except EPS Balance Sheet H1 2006 H1 2007 Var (%) Intangible Assets (incl. Goodwill) 376 653 74% Fixed Assets in Projects 805 1.322 64% Equity 528 652 23% Non-Recourse Financing 718 1.275 78% Net Debt H1 2006 H1 2007 Var (%) Long Term Debt with Credit Institutions
Slide 10: Agenda
ABENGOA Agenda 1. H1 2007 Highlights 2. H1 2007 Detailed Financial Analysis 2.1. Consolidated 2.2. Business Unit 3. Q&A 10
Slide 11: Solar
ABENGOA Solar With the sun…we produce thermoelectric and photovoltaic electric energy 11
Slide 12: Solar: H1 2007 Review
ABENGOA Solar Percentage of Total Revenues ¤ H1 2007 Review Highlights 0,6% ; Sales reached 8.0 M€: Revenues ; 0.6 M€ from PV and Thermoelectric plants, ; 5.5 M€ from solar promotions and, 8,0 ; 2.0 M€ from sale of solar technology for solar thermal projects. 0,0 H1 2006 H1 2007 ; Operating Cash Flo
Slide 13: Solar: H1 2007 Milestones
ABENGOA Solar ¤H1 2007 Milestones ; Construction completed for: ¾ PS10, the world’s first tower technology solar thermoelectric power plant (11 MW). ¾ Sevilla PV, the largest low concentration system photovoltaic plant (1.2 MW). ; R&D: ¾ Prototypes completed for stirling disc and trough collector te
Slide 14: Bioenergy
ABENGOA Bioenergy With biomass... we produce ecologic fuels and animal feed 14
Slide 15: Bioenergy: H1 2007 Review
ABENGOA Bioenergy Percentage of Total ¤ H1 2007 Review Revenues Highlights 19,0% ; 264.1 M € of Revenues, a 23.1% increase: Revenue and Operating Cash Flow Margin ; Higher sales prices in both the EU and US markets. 12.1% 11.8% 264,1 ; 31.2 M € of Operating Cash Flow, a 20.1% increase. Slight margin
Slide 16: Bioenergy: US and EU Markets
ABENGOA Bioenergy Percentage of Total ¤ H1 2007 Review Revenues United States 19,0% ; Ethanol sales volume reached 52.5 million gallons against 52.2 million gallons in Revenue and Operating H1 2006 Cash Flow Margin ; Ethanol price: avg. H1 2007 2.18 US$/gall vs. 1.71 US$/gall in H1 2006 (+27%). 12.1
Slide 17: Environmental Services
ABENGOA Environmental Services With wastes... we produce new materials by recycling, and we also treat and desalt water to achieve a sustainable globe 17
Slide 18: Environmental Services: H1 2007 Review
ABENGOA Environmental Services Percentage of Total ¤ H1 2007 Review Revenues Highlights 26,6% ; Revenues (370.4 M €) increase by 69.9%: Revenue and Operating Cash Flow Margin ; Higher volume of wastes treated in Aluminum and Industrial Waste 12.8% 10.1% ; Steel and Galvanization Waste Recycling: Con
Slide 19: Information Technologies
ABENGOA Information Technologies With Information Technology… we transform data into knowledge, providing effective operational and business real-time decision making for traffic, transport, energy and environment 19
Slide 20: Information Technologies: H1 2007 Review
ABENGOA Information Technologies ¤ H1 2007 Review Percentage of Total Revenues Highlights 18,9% ; Sales figure for H1 2007 reached 264.7 M €, a 39.4% increase on H1 2006, of which 29% organic growth and 10% new acquisitions. Revenue and Operating Cash Flow Margin 8.5% ; Energy: 33% growth. Vattenfal
Slide 21: Industrial Engineering and Construction
ABENGOA Industrial Engineering and Construction With engineering... we construct and operate conventional and renewable energy power plants, power transmission systems and industrial infrastructures 21
Slide 22: Industrial Engineering and Construction: H1 2007 Review
ABENGOA Industrial Engineering and Construction Percentage of Total Revenues ¤ H1 2007 Review 34.9% Highlights Revenue and Operating ; Revenues reached 486.4 M €, a 4.1% increase: Cash Flow Margin 12.1% 14.6% ; Concession revenues: start-up of ATE II (December 06). 18.4 M€ in H1 2007. 467,5 486,4 ;
Slide 23: List of Significant Contracts
ABENGOA Industrial Engineering and Construction Percentage of Total ¤ List of Significant Contracts Revenues ; Algeria: Contract for first solar-combined cycle Hybrid Plant in the world 34.9% (will have a 20 MW parabolic-trough technology solar field and will supply complementary thermal energy to a
Slide 24: Conclusion: Keys for 2007
ABENGOA Conclusion Keys for 2007 Environmental Environmental Information Information Industrial Industrial & & Eng. Eng. Solar Solar Bioenergy Bioenergy Services Services Technologies Technologies Construction Construction Start-up of Ravenna (85 Mgall) - Construction: Start-up of PS10 Construction
Slide 25: Agenda
ABENGOA Agenda 1. H1 2007 Highlights 2. H1 2007 Detailed Financial Analysis 2.1. Consolidated 2.2. Business Unit 3. Q&A 25
Slide 26: First Half 2007
ABENGOA First Half 2007 Earnings Presentation September, 3rd 2007 With the sun... we produce thermoelectric and photovoltaic electric energy With biomass… we produce ecologic fuels and animal feed With wastes… we produce new materials by recycling, and we also treat and desalt water to achieve a sus