presentation chairman abertis shareholders' general meeting 2015 (català)
TRANSCRIPT
Salvador AlemanyPresident
Changes to the Board of Directors in 2014
Changes to the Board of Directors in 2014
Changes to the Board of Directors in 2015
Pedralbes Ave No 17
Changes to the Board of Directors in 2014
Changes to the Board of Directors in 2015
New Corporate Headquarters in Barcelona
Changes to the Board of Directors in 2014
Changes to the Board of Directors in 2015
Code of Good Governance
New Corporate Headquarters in Barcelona
1. Economic context 2. Rating 2014 3. Stock market and shareholder return 4. Foundation, CSR and future
challenges
1. Economic context 2. Rating 2014 3. Stock market and shareholder return 4. Foundation, CSR and future
challenges
Macroeconomic situation Spain 2014
Economic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
+12,2%+2,1%+2,0% +1,6%
Unemployment
Debt Exports
Macroeconomic situation Spain 2014
Rating 2014
Stock market and shareholder return
Economic context
Foundation, CSR and future challenges
Productivity
Macroeconomic situation European reference framework
ECB
Rating 2014
Stock market and shareholder return
Economic context
Foundation, CSR and future challenges
Global GDP
2013 2014 2015
GDP developed countries
2013 2014 2015
GDP Latin America
2013 2014 2015 SOURCE: IMF World Economic Outlook, January 2015
Macroeconomic situation World economy
Rating 2014
Stock market and shareholder return
Economic context
1.3%1.8%
2.3%3.3% 3.3%
3.5%
2.8%
1.2% 1.3%
Foundation, CSR and future challenges
Macroeconomic situation Economic policy
Public spending and
investment
Deficit in
infrastructures
Rating 2014
Stock market and shareholder return
Economic context
Foundation, CSR and future challenges
Macroeconomic situation Economic policy
Public spending and
investment
Deficit in
infrastructures
Need for investment + social demand
Rating 2014
Stock market and shareholder return
Economic context
Foundation, CSR and future challenges
Private
investment
Macroeconomic situation Infrastructures
Investment commitment “Plan de Relance”
600 M€
Extensions in concession contracts
30 M€
Negotiation with the Administration
500 M€
Rating 2014
Stock market and shareholder return
Economic context
Foundation, CSR and future challenges
V. Regulación y detalle
Situación en Europa • Implantado peaje veh.> 12 tn desde 2005.
Ingresos acumulados de 39.000 M€ (4.500 M€/año). A partir de 1/10/2015 afectará a veh. De 12 a 7,5 tn. En discusión aplicación de la viñeta a veh. Ligeros
• Peaje en 79% red alta capacidad (9.048 km).
• Euroviñeta desde 2016 para veh.> 3,5 tn con previsión de ingresos de 1.100 M€/año
Su fundamento en España • Asegurar mantenimiento de la red • Internalizar costes externos del transporte • Racionalizar el uso de la red existente • Liberar recursos a otras prioridades sociales • Gestionar la demanda de tráfico
Análisis de SEOPAN y resultados • Red de 16.455 km (la más extensa de la UE) • Tarificación por distancia en todos veh. • Tarifas entre 0,03 €/km ≈ 0,14 €/km • Tecnología DSRC
Su aplicación en España • Inversión inicial de 627 M€, y OPEX de 247 m€/año • Sector transporte: implementación de ayudas • Ingresos máximos de hasta 6.828 M€/año
Situación)de)pago)por)uso)de)Vías)de)Gran)Capacidad)5)VGC)5)en)Europa)(en)km)
Euroviñeta Viñeta Viñeta
Veh.)Pesados Veh.)Pesados Veh.)Ligeros
FINLANDIA 810 Proyecto(810 0 0 0 Proy)100%
ALEMANIA 12.917 12.917 0 0 0 100%
AUSTRIA 1.719 1.719 0 1.719 NA 100%
BELGICA 1.763 Proyecto(1.763 1.763 0 0 100%
CHEQUIA 751 751 0 751 0 100%
CROACIA 1.295 0 0 0 1.295 100%
DINAMARCA 1.128 0 1.128 0 34 100%
ESLOVAQUIA 419 0 419 419 0 100%
ESLOVENIA 770 0 0 770 606 100%
GRECIA NA 0 0 0 1.658 100%
HOLANDA 2.631 0 2.631 2.631 20 100%
HUNGRÍA 1.515 1.515 1.515 0 100%
LITUANIA 309 0 309 0 0 100%
LUXEMBURGO 152 0 152 0 0 100%
NORUEGA 392 0 0 0 392 100%
POLONIA 1.482 1.482 0 0 468 100%
PORTUGAL 2.988 0 0 0 2.988 100%
RUMANÍA 644 0 644 644 0 100%
SERBIA NA 0 0 0 603 100%
SUECIA 1.891 0 1.891 0 0 100%
SUIZA 1.419 1.419 0 1.419 0 100%
UK 3.685 3.685 0 0 42 100%
ITALIA 6.726 0 0 0 5.714 85%
FRANCIA 11.465 0 0 0 9.048 79%
IRLANDA 897 0 0 0 337 38%
ESPAÑA 16.583 0 0 0 3.026 18%
(1)(Fuente(Eurostat
(2)(Fuente(ASECAP
Pais km)VGC1Peaje)
tradicional)( 2 )
%)VGC)con)algún)tipo)de)tarificación
Macroeconomic situation SEOPAN report
18%Toll roads
16,583KM
Rating 2014
Stock market and shareholder return
Economic context
6,828M€
4. La tarificación por uso en vías de alta capacidad
Foundation, CSR and future challenges
1. Economic context 2. Rating 2014 3. Stock market and shareholder return 4. Foundation, CSR and future
challenges
Financial year 2014 Consolidated results
Income
+7%
EBITDA
+10,5%
Net Profit
+6%
Global traffic
20072008200920102011201220132014
+2.3%
Economic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
Income
+7%
EBITDA
+10.5%
Net Profit
+6%
1.45 Bn€Group Expansion Investment
Financial year 2014 Consolidated results
Economic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
Financial year 2014 Looking to the future
1.45 Bn€Group Expansion Investment
Motorway network
Fleet of satellites
Mobile telephony infrastructures
Economic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
Financial year 2014 Financial strength
10 years
Average maturity
Investment Grade”Rating
”
1.5 Bn€Refinancing 2014
Economic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
Financial year 2014 Looking to the future
Study on stock market flotation
Geographical diversification
Growth in markets
Focus on core activities
Economic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
1. Economic context 2. Rating 2014 3. Stock market and shareholder return 4. Foundation, CSR and future
challenges
Stock market development Generate value
Revaluation Abertis
+5.68%
Stock market progression 2014
90
95
100
105
110
115
90
95
100
105
110
115
Abertis Ibex 35
Revaluation IBEX 35
+3.81%
Economic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
Shareholder return Ordinary dividend
0.33 on account
(paid in November 2014)
1x20 Bonus share issue
0.33 supplementary
(to be paid on April the 13th, 2015)
593 M€ (+5%)
Ordinary dividend
0.66 €/share
Economic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
Shareholder return Dividend policy
Economic context
Rating 2014
Stock market and shareholder return
Ordinary dividend Strategic Plan 2011-2014 (M€)
2011* 2012 2013 2014
593565
538512
3 Bn€
7.4% annual
15.5% annual with revaluation**
**Adjusted for the bonus share issues in this period
* Additionally distributed extraordinary dividends of € 800M
Foundation, CSR and future challenges
Shareholder return Dividend policy
Economic context
Rating 2014
Stock market and shareholder return
+5%Ampliació alliberada
Plans to increase the ordinary dividend (M€)
2011 2012 2013 2014
593565
538512
2015E 2016E 2017E
795
721
654
+5%+5%
+5%
+5%Bonus sh
are issue
The Group expects to distribute +2 BnM € in dividends
Foundation, CSR and future challenges
Shareholders Capital structure
Economic context
Rating 2014
Stock market and shareholder return
Free Float 49%
Treasury stock 1% 8,1%
19%
23%
Actual
Foundation, CSR and future challenges
1. Economic context 2. Rating 2014 3. Stock market and shareholder return 4. Foundation, CSR and future
challenges
Our CSR practicesEconomic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
Our CSR practicesEconomic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
Our CSR practices
Road safety Environment
Social and cultural action
Economic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
Our CSR practicesEconomic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
Our CSR practices
Road safety
Economic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
Our CSR practicesEconomic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
Our CSR practicesEconomic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
Our CSR practicesEconomic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
Our CSR practicesEconomic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
“La exposición del siglo”
P A R Í S · M A D R I D · R Í O D E J A N E I R O · S Ã O P A U L O
Our CSR practicesEconomic context
Rating 2014
Stock market and shareholder return
Foundation, CSR and future challenges
abertis