presentation president abertis shareholders' general meeting 20120
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
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Salvador Alemany, President
Contents 2 Financial year 2011
3 Stock market and shareholder reward
4 Opportunities for PPPs
1 Economic context
5 CSR and Corporate Government
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
Contents 2 Financial year 2011
3 Stock market and shareholder reward
4 Opportunities for PPPs
1 Economic context
5 CSR and Corporate Government
Progression of the crisis Economic context
LATAM SPAIN FRANCE GDP (accumulated) :
-5,0%
5,0%
15,0% 2007 2008 2009 2010 2011
13.3%
-2.3%
0.1%
15.6%
-22.4%
-8.2%
0.9%
TOTAL ABERTIS
SPAIN
LATAM
FRANCE Traffic (accumulated):
-30,0%
-20,0%
-10,0%
0,0%
10,0%
20,0% 2007 2008 2009 2010 2011
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
LATAM SPAIN FRANCE GDP (accumulated) :
-5,0%
5,0%
15,0% 2007 2008 2009 2010 2011
13.3%
-2.3%
0.1%
15.6%
-22.4%
-8.2%
0.9%
TOTAL ABERTIS
SPAIN
LATAM
FRANCE Traffic (accumulated):
-30,0%
-20,0%
-10,0%
0,0%
10,0%
20,0% 2007 2008 2009 2010 2011
Economic context Progression of the crisis
Prudent when making investments and demanding in legal security
Value of geographical diversification
2011 2012
Economic context Progression of the crisis
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
Factors: Spain Economic context
Improving competitiveness
Consolidating the financial sector
Austerity and spending adjustment
Applying incentive policies Generating new resources
Fostering recovery and growth
Factors: Europe
Economic context
Greater integration of tax policy
Proactive European Central Bank Reduced tensions on sovereign debt
Stabilising the financial system in Europe
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
Other factors Economic context
Consolidating positive factors and recovering trust
The American economy oriented towards recovery
Relative weakness of the Euro
Stronger European leadership and continuity of the reforms
Contents 2 Financial year 2011
3 Stock market and shareholder reward
4 Opportunities for PPP
1 Economic context
5 CSR and Corporate Government
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
Splitting car parks and logistics parks activity
A year of transformation Financial year 2011
Sale of our stakeholding
Important milestones Financial year 2011
Recovery after extraordinary factors 2010
Absorbing the impact of the analogical switch-off
PR-22 and PR-5 concession (Puerto Rico)
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
Positive results Financial year 2011
EBITDA +1.9%
Income 3.915 B€
Net result + 8.8%
Profit per share 0.95€
Prudent management of the balance Financial year 2011
S&P: BBB+ Fitch: A-
Debt reduced by 769 M€
Keeping the Rating
The merits of the group outweigh the perception of "country risk"
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
Contents 2 Financial year 2011
3 Stock market and shareholder reward
4 Opportunities for PPPs
1 Economic context
5 CSR and Corporate Government
Stock market value Stock market and shareholder reward
+13%
Annual profitability from the birth of abertis
41%
Freefloat
2011 140
120
100
80
60
40
20
2012
ATLANTIA BRISA VINCI IBEX 35 ABERTIS
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
Shareholder reward Stock market and shareholder reward
0.66€ / share
Ordinary dividend
512 M€ (+15%)
1x20 Bonus capital increase
790 M€
1.07€ / share
Extraordinary dividend
(disbursed 2011)
plus issue premium
0.30 on account (disbursed October 2011)
0.36 Complementary (payment on 12/04/2012)
Contents 2 Financial year 2011
3 Stock market and shareholder reward
4 Opportunities for PPPs
1 Economic context
5 CSR and Corporate Government
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
A conditioning economic situation Opportunities for PPPs
Greater demands for profitability and security of projects
Budget difficulties of the administrations
Financial restrictions in public and private sector
An own growth model Opportunities for PPPs
Industrial sense
Service to the territory
General interest
Sustainable profitability
Value generation
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
Applying cost-benefit analysis
Combining austerity measures with incentive policies
Privatisation and concession of infrastructures
Harmonised charging
The moment Opportunities for PPPs
The examples
Moving towards a homogeneous pay-per-use model
Charging the road network:
Extending the concessionary model to other infrastructures
Contributing resources to maintain the network and reduce the deficit
Opportunities for PPPs
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
Commitment to:
Boosting economic growth and generating resources for the administrations
Infrastructures with a high degree of socio-economic profitability
Opportunities for PPPs
Two factors to be combined
Geographical diversification
Significant presence in the priority countries
Benchmark partner for the administrations
Opportunities for PPPs
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
Contents 2 Financial year 2011
3 Stock market and shareholder reward
4 Opportunities for PPPs
1 Economic context
5 CSR and Corporate Government
abertis Foundation CSR and Corporate Government
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
abertis Foundation CSR and Corporate Government
Fields in which the Foundation is active
Social action
Heritage recovery and cultural divulgation
Corporate volunteer work
Boosting knowledge
Sustainability
Road safety
CSR and Corporate Government
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
CSR and Corporate Government International recognition
Corporate Government model
Company strategy supervision and control
Business management executive functions
CEO and management
Administration Board and President
CSR and Corporate Government
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Junta General d’Accionistes 2012 Junta General de Accionistas 2012 General Shareholder’s Meeting 2012
The future depends on us
Building a project in which we have everything to gain
Future vision
Shareholders
Talent
Criterion
History
Resources
Capabilities