abertis brochure 2015 - corporate dossier
TRANSCRIPT
l Presence in 12 countries in Europe and the Americasl More than 8,300 kilometres of toll roadsl 14,300 employeesl More than 70% of revenue generated outside Spain
An efficient global company
Canada
United States
Puerto Rico
Colombia
BrazilChile Argentina
IrelandFranceSpain
Italy
United Kingdom
Abertis is the world leader in the toll roads sector with 8,300 kilometres under management.
The Group, with operations in 12 countries and more than 14,300 employees, is geared towards value creation through the investment in infrastructures that contribute to global economic and social development.
Since its inception in 2003, Abertis has invested over 15,000 million euro in the countries where it is present.
3
17%
33%
5%Chile
Other
France
Brazil
Spain28%
36%
20%
6%10%
REVENUE BY COUNTRY (jUNE 2015)
1,360 M€
EBITDA (june 2015)
2,131 M€
Revenue 2014 (june 2015)
27,230 M€
Assets managed(june 2015)
Abertis today
5RESULTS FIRST HALF 2015 (in M€ and %)
Spain Brazil Chile AbertisTOTAL
France
ADT (number of vehicles/day)
GROWTH Investment
590 M€
France (Plan Relance)
+5,7%
NET DEBT / EBITDA RATIO
3,7xEBITDA
+2,2%+10,0% +1,8%
-0,9%
17,281 18,183 19,708 21,36223,006
REVENUE (M€)
2,131+1,7%
NET PROFIT
1,677+445%
NET DEBT
11,220-18,6%*
* Var. vs. pre-
vious year close
Hispasat Spain
Toll roadsFrance
70% OF REVENUE COMES FROM OUTSIDE SPAINBrazil
Chile
Other
95%36%
5% 28%
20%
6%10%
REVENUE REVENUE
FOCUS INTERNATIONALISATION
Negotiations
in Brazil and Chile for extensions
8 investment projects under study
for up to
9,000 M€
SHAREHOLDER STRUCTURE (june 2015)
Administrative bodies
~23%
CRITERIA CAIXAHOLDING
~8%
CVC
~16%
OHL
~53%
FREE FLOAT
7BOARD OF DIRECTORS
Chairman Salvador Alemany Mas Vice-Chairman-CEO Francisco Reynés Massanet Members Juan-Miguel Villar Mir Carmen Godia Bull Javier de Jaime Guijarro Marcelino Armenter Vidal Carlos Colomer Casellas María Teresa Costa Campi Susana Gallardo Torrededia Tomás García Madrid Miguel Ángel Gutiérrez Méndez Mónica López-Monís Gallego José Antonio Torre de Silva López de Letona Manuel Torreblanca Ramírez Juan Villar-Mir de Fuentes Juan-José López Burniol Secretary Miquel Roca Junyent Deputy Secretary Josep Maria Coronas Guinart
ExECUTIVE COMMITTEE
Chairman Salvador Alemany Mas Vice-Chairman-CEO Francisco Reynés Massanet Members Juan-Miguel Villar Mir Carmen Godia Bull Javier de Jaime Guijarro Marcelino Armenter Vidal Tomás García Madrid Juan-José López Burniol Secretary Miquel Roca Junyent Deputy Secretary Josep Maria Coronas Guinart
APPOINTMENT AND REMUNERATION COMMITTEE
Chairman Mónica López-Monís Gallego Members Carmen Godia Bull Javier de Jaime Guijarro María Teresa Costa Campi Juan Villar-Mir de Fuentes Secretary Josep Maria Coronas Guinart
CORPORATE SOCIAL RESPONSIBILITY COMMITTEE
Chairman Salvador Alemany Mas Members María Teresa Costa Campi Susana Gallardo Torrededia Manuel Torreblanca Ramírez Secretary Josep Maria Coronas Guinart
AUDIT AND CONTROL COMMITTEE
Chairman Miguel Ángel Gutiérrez Méndez Members Marcelino Armenter Vidal Carlos Colomer Casellas Tomás García Madrid José Antonio Torre de Silva López de Letona
Secretary Marta Casas Caba
9Vice-Chairman and
Chief Executive OfficerFrancisco Reynés Massanet
CFO & Corporate DevelopmentManaging Director
josé Aljaro Navarro
General Counsel and CorporateManaging Director
josep Maria Coronas Guinart
Managing Director of Sanef Lluís Deulofeu Fuguet
Industrial DevelopmentManaging Director
josep Lluís Giménez Sevilla
Chief Executive Officer of Arteris
David Díaz Almazán
Managing Director of Toll RoadsInternational
Carlos del Río Carcaño
Managing Directorof Toll Roads Spain
Antoni Español Realp
Chief Executive Officer of Hispasat
Carlos Espinós Gómez
Human Resources Director joan Rafel Herrero
General Managerof Toll Roads Chile
Luis Miguel de Pablo
Initial target
2010
2010
2010 2014
20102014
2014
2014
Final result
EBITDA (M€) REVENUE (M€)
OPERATING MARGIN (% REVENUE)
ASSETS PORTFOLIO
+19%
+30% Other
Telecommunications
Toll roads France
Toll roads Spain
+25%
4,106
61%
2,4944,889
64%
3,122
EFFICIENCIES (M€)
11
118
11188
253 302
190
173
76
TelecommunicationsTelecommunications
Divestments4,600 M€
Investments and acquisitions8,000 M€
Other
Toll roads
Toll roads
10%
90%85%
9%
6%
EBITDA~2,500 M€
EBITDA~3,100 M€
With over 8,300 kilometres managed, Abertis is the world leader in the toll roads sector.
BRAZIL 3,250 kILOMETRESThrough Arteris, the Group manages 21% of the toll roads market in Brazil, with concessions in the states of São Paulo, Minas Gerais, Río de Janeiro, Santa Catarina and Paraná.
FRANCE 2,036 kILOMETRESAbertis operates in France through Sanef, which controls the 22% of the toll roads market in the country, including five of the seven main roads leading into the Île de France.
SPAIN 1,776 kILOMETRESAbertis is the leading operator of toll roads in Spain, where it controls 59% of the market. The Group manages most of the country’s crucial road corridors, including the AP-7, the AP-6, the AP-68 and the AP-2.
CHILE 771 kILOMETRESAbertis is the main toll road operator by traffic and EBITDA. It manages a total of 6 concession in the country.
REST OF THE WORLD 445 kILOMETRESThe Group also operates high capacity roads in Puerto Rico, Argentina, Colombia and the United Kingdom and manages electronic tolling systems in different road infrastructures in Canada, Ireland and the United States.
OTHER HOLDINGSAbertis has a major stake (33%) in Cellnex Telecom, the biggest European neutral operator in telecommunications infrastructures for mobile telephony and broadcasting with a network of more than 15,000 masts located in Spain and Italy.
Abertis is also the major shareholder in Hispasat (57%), the satellite company leader in Latin America, with seven satellites in orbit.
13
PeterboroughGloucester
Sawtry
Alconbury
Swindon
CirencesterRMG
Aumar
AcesaInvicatAucatAutemaTúnels
Strasbourg
Reims
Caen
Alençon
Langon
Pau
Paris
Palafolls
La Jonquera
Girona
Lleida
Castellón
Valencia
Alicante
Logroño
ZaragozaBarcelona
Tarragona
Vitoria
Bilbao
Astorga
León
Navalcarnero Arganda del Rey
Guadalajara
Segovia
Adanero
ÁvilaMadrid
Seville
Cádiz
Aulesa
Aumar
AumarCiralsa
Avasa
Sanef
IberpistasCastellanaTrados 45Accesos de MadridHenarsa
Lyon
EUROPE
ColombiaCoviandes
Bogotá
Villavicencio
Argentina
San Fernando
San Isidro
Buenos Aires
LujánBuenos Aires
Barceloneta Manatí
Vega Baja
Vega Alta
GuaynaboBayamón
Cataño
Arecibo Dorado San Juan
Puerto RicoAPRMetropistas
SantiagoSan Antonio
Valparaíso
CoquimboLa Serena
Ovalle
La Ligua
Los Andes
Colina
Quillota
San Felipe
Quilpué
Viña del Mar
ChileGesaElquiRutas del PacíficoAutopista Los AndesAutopista del SolAutopista Los LibertadoresAutopista Central
Belo Horizonte
São Carlos
Ribeirão Preto
São Paulo
Curitiba
Franca
Araras
Rio de Janeiro
Florianópolis
BrazilAutoviasCentroviasInterviasVianorteAutopista Litoral SulAutopista Planalto SulAutopista FluminenseAutopista Fernão DiasAutopista Régis Bittencourt
AMERICA
Strategic Plan 2015 - 2017
New efficiency
programme
Cellnex IPO
Growth in toll roads
Greater shareholder
remuneration
Upholding the concession model as the foundation for social progress
Strategic Plan 2015 - 2017
The new Abertis Strategic Plan 2015-2017 is another step in the process of creating a new, more solid, efficient and profitable Abertis. After a successful period from 2011 to 2014 in which the company undertook a transformational leap to become the world leader in its sector, Abertis is now focused on giving fresh impetus to its commitment to growth and creating value for its shareholders and satisfaction for its employees and society.
AN AMBITIOUS STRATEGIC PLAN 2015-2017
New Plan with special focus on
France, Brazil and Chile
+ Consolidation
of savings in the previous plan
Operational efficienciesFocus
Cellnex Telecom IPO to enable
it to grow internationally
Growth in toll roads
Extension of terms
for existing concessions
+ New
acquisitions
Shareholder remuneration
Dividend increase by 5% per year
+ Expanded bonus share issue 1x20
+ Share buyback plan of 6.5% of
share capital
17
ORDINARY DIVIDEND - OUTLOOK
2014 2015E 2016E 2017E
+10% annual growth (M€)
593 654 721 795
3,000M€ 120% +25 years
dividends paid 2010 - 2014
cumulative return in the last ten years
on the stock exchange
Abertis on the stock exchange
Abertis has been listed on the Spanish Stock Exchange as part of the Íbex 35 since the latter began in 1992, and it is also on the other major international indexes such as Standard & Poor’s Europe 350, FTSEurofirst 300 and FTSE IIS CG.
Abertis’ key objectives include ensuring sustainable remuneration to its shareholders based on a combination of dividend payments and a yearly bonus issue. As part of its Strategic Plan 2015 - 2017, shareholder remuneration is to grow by 10% per year.
Over the last ten years the cumulative return for Abertis shareholders has been 122%.
Over recent years Abertis’s stock has easily outperformed Spain’s Ibex 35 index. Its market capitalisation has risen by 50% since 2011.
ABERTIS SHARES PERFORMANCE MARKET CAPITALISATION (M€)
ORDINARY DIVIDEND (M€)
443
9,900
14,800
512* 538 565 593
+ 7% per year
Jan 2011 Dec 2014 Jan 2011 Dec 2014
2010 2011 2012 2013 2014
19
* Additionally € 800 Mn were distributed as extraordinary dividends
100
160
104
IBEX35
Abertis
Responsabilidad Social Corporativa
Corporate Social Responsibilityl Promoting road safety and responsible driving campaigns l Caring for people and their social environmentl Fostering and spreading cultural valuesl Supporting international environmental policies
Our Corporate Social Responsibility covers the following areas:
Road safety campaignsProgrammes such as “Te queda una vida”, “Autoroute Académie” and the organisation of the “Road Safety Forum” in Brazil in the last two years, all designed to improve the safety of drivers and pedestrians.
Culture and societySupport and sponsorship of art exhibitions such as the Velázquez retrospective in Paris and the Joan Miró exhibition in Brazil. In the social agenda, labour integration programmes for people with Down syndrome.
EnvironmentThe Abertis Foundation headquarters, chosen as the UNESCO International Centre for Mediterranean Biosphere Reserves.
The Abertis chairsKnowledge-sharing programmes between Universities and Companies through an international network of chairs in Spain, France, Chile, Puerto Rico and Brazil.
Socio-economic development / Social accessibility
Culture accessibility
Training/Research
Environmental conservation
Mobility and road safety
21
35,7%
10,6%
10,0%
7,9%
35,8%
CONTRIBUTIONS BY AREAS (2014)
Content editing, production and coordination: Corporate Communications DepartmentDesign: gosban reporting
Printed on ecological paper
Abertis Infraestructuras S.A Avenida de Pedralbes, 17 - 08034 Barcelona Tel. +34 93 230 50 00 - Fax +34 93 230 50 01www.abertis.com