Intervw ie Moacyr Duarte, chairman of the Brazilian Association of Road Concession Holders P. 16 report abertis is to manage three toll roads in Chile P. 26 sanef and abertis enter Dalí’s universe P. 58
January 2013 no. 07 - Second period
abertis: world leader in toll roads editorial Sensitivity and intelligence
Reading the article on Smart Cities tries in the areas of toll roads – with sanef published in these pages by the Italian in France in 2006 and with Brazil in 2012 as After the architect and engineer Carlo Ratti has made essential references −, airports and telecom- agreement to me think about the inseparable relationship munications, and these were the result of between sensitivity and intelligence. With The anticipation; of sensitivity concerning the integrate the sensitive city, Ratti suggests to us that the urgent need for change and the requirements OHL concessions intelligence of a city – its efficiency in manag- for preparing a company for the future. This in Brazil and ing all its processes based on information has created a company capable of making Chile, we can technologies, from the traceability of waste its growth sustainable, diversifying its geo- now say that to the management of mobility – depends on graphical risk and, therefore, giving it the ABERTIS is the the city having “senses”, or being sensitive. He strength to overcome the different phases is referring to a physical concept. The city, he of the economic cycle, which are normally biggest toll states, must be covered with sensors so that asymmetrical, so that one country or eco- road operator the information they transmit allows intelli- nomic region provides compensation and in the world gent, reasoned decisions to be adopted. rebalances the upward or downward phase In a way, then, intelligence presupposes of another country or region. the sensitivity of knowing how to appreci- We are working, then, to maintain the ate and interpret – to anticipate – the con- Group’s strength and growth potential. It is text we operate in. And this is valid both for based on this strength that we are not distant organisations and for people. We cannot from the context or the economic situation settle for a judgment about what has to be we are going through. It affects us too and, done and how without first having diag- with this perspective of medium- and long- nosed what is happening to us, or without term consolidation and competitiveness, we having sensitivity – the capacity to sense have also made decisions involving adapta- and interpret the signals we receive in order tion and a dose of sacrifice, which we have to allow us to establish this diagnosis. no need to hide. I like to think that at abertis we have We are ending a 2012 packed with deci- been capable of providing ourselves with this sions anticipating the future of a transformed, sensitivity; this sense of anticipation on which more global abertis. These decisions make some of the key decisions made over the last us more competitive and also more efficient. few years have been based, culminating in They bring us size and, therefore, lungs and the reality of a group which, now the agree- space to grow. Many talk to us about capac- Salvador ment to integrate the OHL concessions in ity to interpret the context and anticipate; Alemany Brazil and Chile has been concluded, we can about capacity to be ready and react in time. President of abertis now say is the biggest toll road operator in The abertis of the end of 2012 is more solid. the world. It is more international. It has committed Let’s think for a minute what our Group’s shareholders, strengthened, after the Brazil- position would be in the current economic ian operation, with the incorporation of the context if we had not driven forward the proc- OHL Group as a Group shareholder. ess of internationalising our activity at the It is an abertis that continues to work beginning of 2000, and, more strongly, since for the future. A global company more com- 2003. From having 98% of income generated plex to manage because of the different in Spain in 2000, we have moved to the 40% nature and situations of the markets and we are forecasting for 2013. abertis has been countries where we operate, but also with definitively transformed into an international more opportunities to grow and develop our company with a global reach. This is a chal- aptitudes and attitudes as professionals, as lenge and, at the same time, an opportunity. people and as responsible citizens, aware of That boost and strategic decision has and sensitive to the difficult context in which taken the form of operations in other coun- we must act and make decisions. n
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no. 07 Summary
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08 report abertis, new world leader in toll roads
Tunnels 48 26 44 54 16 38 abertis to manage INTERVIEW report Vallvidrera and el Cadí link abertis Moacyr Duarte Infrastructure Finance Carpooling 49 “The concessions in Brazil Summit 2012 More than 10,000 users link abertis is a publication from 58 Abertis Infraestructuras, SA are consolidated” Debate on the sector abertis foundation Av. del Parc Logístic, 12-20. 50 08040 Barcelona. abertis holds its 4th Tel.: 93 230 50 00. Fax: 93 230 50 02. 06 22 40 Volunteering Day Edited and coordinated by: abertis Corporate Communication Department. Opinion REPORT report Road education 52 Editorial board: Salvador Alemany, Carlo Ratti Department of Internal Telecommunications Francisco Reynés, José Aljaro, Josep Maria New action in Coronas, Toni Brunet, Juan María Hernández The sensitive city Resources and Efficiency The towers celebrate secondary schools Puértolas, Sergi Loughney and Joan Rafel. A multidisciplinary, competitive a birthday Corporate image and production: and innovative team Castellet 54 Erik Ribé and Bernat Ruiz. Candidate to be Centre Content coordination: 12 Alícia Cobeña. report 42 for Mediterranean Editorial: Alícia Cobeña, Gemma Gazulla, Internationalisation 26 report Biosphere Reserves Marc Gómez and Leticia Gonzálvez. Christine Allard, Carolina Brazil opens its doors report Infrastructures Contributors: 1st abertis Bergantiños, Bob Bullock, Julio Cerezo, Joan to the private sector Latin America A commitment Fontanals, Enric Pérez, Mercedes Pérez-Cruz, Roser research award 56 Investor’s link abertis, biggest toll road to the city of the future Prenafeta, Marc Ribó, Albert Rossell, Bernat Ruiz, Using mathematics to abertis, abertis autopistas, abertis telecom, operator in Chile abertis airports and abertis foundation. predict traffic 14 Production: report 44 Dalí 58 Ediciones Reunidas, SA (Grupo Zeta). Revistas Corporativas Barcelona. International presence news abertis sponsors an 30 68 Consell de Cent, 425. 08009 Barcelona. travel Tel.: 93 227 94 16. The role of infrastructures Hispasat 44 exhibition about the results in a global world Catalan painter in France Manager: Òscar Voltas. Editorial coordinator: Valparaíso Two new satellites January-September 2012 Nuria González. Chief reporter: Toni Sarrià. The ocean’s bride sanef 46 Results looking up Editorial: Gemma Figueras and Toni Capilla. Purchase of the leading toll Layout: Cristina Vilaplana and Xavier Julià. 15 61 Sub-editing: Ares Rubio. systems company in Europe Legal deposit: B-16432-2010. report briefs 34 72 abertis shareholder service line: 902 30 10 15. Economy Night report Eco-pôle 47 abertis news anniversary www.abertis.com abertis accepts no responsibility for the opinion abertis receives an award for metropistas sanef’s future Other news abertis celebrates 25 years of its contributors in the work published, nor does the best operation of the year First year of history green building headlines in brief on the stock market it necessarily identify with their opinions.
1 n link abertis n January 2013 January 2013 n Link abertis n 2 opinion The sensitive city Networks, sensors and design are redefining our cities. The by Carlo spaces where we live are going to be greener, more social and Ratti more connected. In a word, they will be smarter. Architect and engineer he practices in Italy It seemed as if the Internet was might say that the Internet is invading the must act. “What must we do?” is one of the at works at MIT, where he runs the Senseable going to annihilate cities but, physical space, a phenomenon often known questions we hear repeated time after time City Lab. instead, it is saving them. In the mid-90s, by the name Smart City.. This development by the mayors of Asian, European and Amer- due to the Internet explosion promoted has also turned other situations on their ican cities. There are different possible He has worked for by the first internauts, many people spoke heads, and we are now seeing the beginning approaches. The first of them fascinates the more than 200 of the Death of Distance, taking the title of a hybrid dimension between the digital big multinationals, many of which are publications, including of the book by Frances Cairncross. The and the material world, transforming the strongly entering the Smart City. field. From The New York Times, Scientific American, explosion of networks heralded the sup- way we live. Let’s take Formula 1 races, for Cisco to Ibm and Siemens, many of them La Stampa and the pression of distances in the physical world. example: 20 years ago, in order to win you are offering solutions to make services like magazine Domus. The idea was such as strong one that the needed a good engine and a good driver, but transport and waste collection more effi- American writer George Gilder went as far now what is required is a telemetry system cient. It is an interesting approach, although His work has been as to say that, with people having every- based on compiling data from thousands sometimes too technical and designed from exhibited at the Venice Biennale, the Museum thing at their fingertips, cities would disap- of sensors fitted on the car and processing outside. of Decorative Arts pear as a “useless legacy of the past”. How- it in real time. On the other hand, it is also possible in Barcelona, the ever, since then, the number of people who In the same way, today’s cities allow to work in cities from below, allowing the Science Museum prefer to live in urban areas has increased us to compile an unprecedented quantity public to play a new role. We have seen it in in London and the until, in 2008, it exceeded 50% of the of information which can then be trans- the case of the Arab Spring, or the election MoMA in New York. world’s population, an unprecedented formed into responses by residents or by of Obama as President of the United States. Time valued his Digital situation in human history. the public administration. The universe of Similar dynamics can be activated to man- Water Pavilion at the Instead of weakening the existing ele- urban aspirations is the clearest sign of this age an urban area. In the United Kingdom, 2008 World Exhibition ments of centrality, the networks have rein- development. For example, the Waze appli- Fix My Transport has become a very effec- as one of the best forced them. In fact, technology frees us cation for mobile phones which contributes tive, free system for compiling what is not works of the year. from the obligation to be in one single place to getting traffic to work better thanks to working in the public transport system and In 2010 the magazine to do things, but that does not take us away users’ indications. Then there is Open Table, solving transport problems. In Boston, Mayor Blueprint selected him from inhabited centres. The things that inter- which allows customers to book restaurant Menino launched the New Urban Mechan- as one of the 25 people est us in our everyday lives are in physical tables directly (in the United States hardly ics project to incentivise the activism of who “will change the space: a good quality of life, a favourable anyone now phones to book a table). individuals, who have become “city experts”. world of design”, human context, optimum environmental Services based on the exchange of data The most outstanding features of the project Forbes picked him out conditions and all the other factors that collected from the environment are also the include the applications developed to help as one of the “names you need to know” determine the choice of the place where we basis for the activities carried out by the point out problems and to put families and in 2011 and Fast are going to live. And the statistics on the SENSEable City Laboratory at the Massa- teachers in contact. Company named him best cities to live in continually focus on chusetts Institute of Technology (MIT) in Instead of investing in huge, unwieldy as one of the “50 most these, as do economists like Richard Florida, Boston, such as the Trash Track project, a projects, authorities must create new plat- influential designers author of The Rise of the Creative Class. And system making it possible to remotely fol- forms for the public and, above all, intervene in the United States”. How It's Transforming Work, Leisure and low the route of samples of rubbish using to remove the obstacles limiting urban inno- http://senseable.mit.edu Everyday Life. electronic labels. It was discovered that not vation. This civic, digital activism offers a So, new technologies are not eliminat- all waste was going to the most appropriate great opportunity. The Smart City model is ing cities, but they are transforming them recycling facilities and that some samples also an opportunity. The challenge of the technologies. One example is traffic: we will be the way of inhabiting spaces, thanks in a far-reaching way. Cities, covered with covered many unnecessary kilometres. The next few years will be to make the most of already have driverless cars and networks to new ways of exchanging information, the sensors and electronic networks, are being information compiled from more than 3,000 existing assets, correcting the town planning allowing us not to waste time and petrol winning card. New scenarios are opening transformed into open-air computers. We items ensures proper disposal and helps to errors of the last century and using new looking for a parking space. Many problems up for designers in which architecture not spread awareness among the public. For can be solved by using existing infrastruc- only deals with constructions, it achieves a now it is an experiment, but in many respects tures better, with less asphalt and more dialogue between information technology we are at a historic point very similar to the silicon. and social sciences for the sake of a paradox: cities, covered mid-nineties, when the web began to spread. GOVERNMENTS MUST At first sight, the city of the future will omnipresent but invisible technology that with sensors and Faced with the revolution caused by CREATE NEW PLATFORMS not be much different from the city of today. exists precisely so that we can forget about electronic networks, are the crisis between the digital world and the FOR THE PUBLIC AND Like the Romans 2,000 years ago, we need it and concentrate on the things that mat- physical world where Big Data, or the capac- horizontal planes to move on and windows ter – an easier life, a pleasant environment being transformed into ity to process large quantities of data, is REMOVE OBSTACLES LIMITING to protect us from bad weather. However, and our capacity to construct a rich social open-air computers centralised, administrations feel that they URBAN INNOVATION what is going to change most in the future fabric. n
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Internationalisation alisation process, which today leaves it as a 60% of the Ebitda will be produced outside multinational group present in 14 countries. Spain (as opposed to 45% in 2009). 20% Therh pu c ase of the abertis, new world This is the result of an internationalisation will come from arteris, abertis’ assets in assets of OHL Brazil process that began years ago and which has Brazil. intensified over the past three financial is an enormous step years. Intense corporate activity in abertis’s leader in toll roads In this period, abertis has focused on abertis continues through a period of internationalisation selective growth and on focusing on busi- intense corporate activity and asset rotation process, which today After the purchase of OHL’s assets in Brazil and Chile, abertis will come nesses in which the Group can develop its in which it has managed to achieve world leaves it as a to manage more than 7,300 kilometres of toll roads in Brazil and Chile business vocation and give greater value to leadership in toll road management and shareholders. In just three years, abertis greater international diversification of its multinational group has doubled the number of concessions it asset base –which will mean that in 2013 T ext AND photos abertis present in 14 countries manages (32 in 2013) and the number of the Group will produce more than 60% of kilometres it manages, which has grown its Ebitda outside Spain. abertis’ presence 2012 will go down in history as the true transformational operation of the group cial indicators to be improved and will main- from 3,750 in 2009 to the more than 7,300 in the country with the takeover of OHL year when abertis became the lead- giving a considerable drive to its internation- tain its strength and financial solvency. with which it starts the New Year. abertis Brazil will undoubtedly enable it to create ing group in the world in the toll road conces- alisation process, new international partners therefore reduces its overexposure to certain a leading platform for bringing in future sions sector, managing more than 7,300 and renewed shareholding. The operation, Drive to internationalisation weakend markets such as the European in growth opportunities in the region. The The Fluminense toll road connects the states of Río de kilometres. The purchase of 60% of OHL completed under the Group’s strict invest- The purchase of the assets of OHL Brazil is general, and the Spanish in particular. It has company’s entry in Brazil also consolidates Janeiro and Espírito Santo with Brazil –since December, called arteris– is a ment criteria, will enable abertis’ main finan- an enormous step in abertis’ internation- been estimated that in 2013 more than abertis’ position in the American continent, that of Ponte Rio-Niterói.
8 n link abertis n JANUARY 2013 JANUARY 2013 n Link abertis n 9 In addition, the new toll roads incorporated The concession holders T he abertis network in Brazil dependent on the state of into abertis’ portfolio will make it possible São Paulo have concession to extend the average life of its assets, as they Belo Horizonte periods ending in 2028. are contracts lasting, on average, to 2029; that is, 16 years. Franca
Description of the arteris assets Ribeirão Preto The assets forming abertis are 3.226 toll road concessions in Brazil, with a total 3,226 Sao Carlos Araras kilometres. They are located in the states of São Paulo, Minas Gerais, Rio de Janeiro, Santa Catarina and Paraná, with four concession holders dependent on the state of São Paulo: Sao Paulo Rio de Janeiro Autovias, Centrovias, Intervias and Vianorte; and five concession holders dependent on the Federal network: Autopista Fernão Dias, Bra z i l Autopista Regis Bittencourt, Autopista Lito- Curitiba ral Sul, Autopista Planalto Sul and Autopista Fluminense. The concession holders depend- São Paulo State Federal Network n A. Fluminense ent on the state of São Paulo have concession network n Dual carriageways n A. Fernão Dias periods ending in 2028. The Federal conces- n Central freeways n A. Régis Bittencourt sion holders reach the end of their conces- n Intercity freeways n A. Litoral Sul sions in 2033. This is a solid toll road portfo- Florianópolis n Vianorte n A. Planalto Sul lio that incorporates a balanced series of concessions and improves the average life of the abertis autopistas. in which it is already present with businesses Structure of the operation OHL becomes an important shareholder in strengthening the company’s balance sheet in the United States, Mexico, Jamaica, The operation was structured in two stages. abertis, controlling 15% of its capital. As a Strategic objective: to carry on growing At ber is’ main strategic and financial position; integrating the assets Colombia, Bolivia, Argentina and Chile, where At the first stage,abertis acquired 100% of result of the change of control in Brazil, the abertis’ growth does not end here. World objective continues acquired in Brazil and Chile and optimising it is already the largest concession holder Partícipes de Brasil and, in exchange, OHL operation involves the formulation of a leader in the toll road concession sector, both its portfolio. For abertis, the principal stra- in the country. Today, 60% of the more than received 10% of abertis’ shares which the takeover bid for all the ordinary shares in in terms of the number of kilometres man- to be growth under tegic goal will continue to be growth, always 7,300 kilometres of toll roads managed by company had in its own portfolio and 11 circulation of OHL Brasil, which is currently aged in the world (more than 7,300) and for strict profitability under strict criteria of profitability and with abertis in the world are in Latin America. million euros in cash. abertis also assumed in progress and involves the same structure income (approximately 5,100 million euros), criteria and with a special interest placed on international mar- liabilities with regard to Partícipes for a total conditions and price as those accepted by abertis is now better prepared than ever to special interest in kets in the sector of toll roads such as the New partners and shareholders value of 504 million euros. At the second OHL in concluding the operation. abertis face new challenges. In the next few months, United States and Mexico, stable economies The operation also supposes an outstanding stage, abertis has transferred 49% of Partíc- will not issue new shares in relation to the the Group is setting itself the target of con- international markets with legal security, clear concession frame- change in the structure of the shareholding ipes to Brookfield, as well as 49% of the handover of shares associated with the tinuing its far-reaching quest for efficiencies works and broad experience in the area of with the entry of the OHL group, which with liabilities, and abertis has received 362 mil- takeover bid. in opex and capex in all its businesses; public-private collaboration. n 15% of the shares has now become abertis’ lion euros from Brookfield in cash and shares reference shareholder and increases the representing the 0.8% of abertis share capi- Financial impact complementary nature of the present share- tal that Brookfield had previously acquired. From the financial viewpoint, this operation holders of the Group. Therefore the principal This percentage will remain as abertis shares has a clear and positive impact on the group’s abertis and Brookfield create a brand in Brazil shareholder, La Caixa (26%), and CVC in the in the company’s own portfolio. income statement. The arteris concessions background (15%) are complemented by After the operation, abertis and Brook- will be consolidated overall in the abertis The newarteris brand is inspired by the new arteris trademark has been imagotype in the corporate name. the OHL building group (15%), which will field control 51% and 49% respectively of accounts, that is, the whole of the balance the meaning of the “artery” concept developed, adding two inspirational This clearly recalls the universal icon bring in its experience in the sector of con- Partícipes de Brasil, which, in turn, holds 60% and income statement will be integrated. as the main feature of the aspects: the universal symbol for a for toll road, although reinterpreted cessions in Latin America. Furthermore, the of the Brazilian quoted company. For its part, abertis thus expects to bring in approxi- composition of its logo. Artery as a motorway or toll road and the Brazilian and updated. Group’s self portfolio falls from 10% to mately 900 million Euros in income and 470 route for communication and for flag: elements intensifying the The result is a modern, attractive, 0.8%, opening the door to potential share million of Ebitda. The new abertis will thus transporting goods and people. perception of the signs of identity and friendly, integrating trademark repurchases. Furthermore, abertis has exceed 5,100 million of income and 3,100 Artery as a support for connecting their corporate representativeness. whose design and composition started an alliance with the Canadian Brook- At r eris’ concessions million of operating profit and will be con- cities, business and services. On one hand, arteris brings together includes the signs of identity and field fund. It is an association that has made solidated as the world leader both in the will be globally Artery as an infrastructure serving the management of nine toll road corporate values of abertis and the operation more attractive as, firstly, it number of kilometres managed and in income. mobility. Artery as a space facilitating concession holders, so it carries its Brookfield, based on redefinition and has meant greater diversification of risk and consolidated in abertis’ At the same time, abertis will consider- the transport of aspects that are vital universal iconography implicitly in its updating and evolving their visual better finance for the operation and, sec- accounts, which means ably strengthen its balance sheet with the and fundamental for economic and DNA. Because of this, the corporate identity towards new common ondly, it has incorporated a top-class finan- its whole balance sheet increase in assets and the reduction in lever- social development and for name of the brand emerges from its features, generating a new language cial partner into the project with a very good age ratios. By incorporating assets with less and profit and loss value generation. symbol. The letter “r” of the word within the architectural map of the knowledge of Brazil, as it has been present debt and better leverage ratios, the net debt/ Based on this main idea, the visual arteris leads to this symbology which, Group’s trademarks while there for more than a century, investing account will be Ebitda ratio will be reduced to a level of 4.7X, image of the system of architecture of when developed, generates the maintaining its fundamental values. n more than 18 billion dollars in the country. integrated which is 22% lower than it was 3 years ago.
10 n link abertis n JANUARY 2013 JANUARY 2013 n Link abertis n 11 report Brazil opens its doors to the private sector In August, the President of Brazil, Dilma Rousseff, announced the beginning of an ambitious infrastructure plan involving the private sector
Text and photos abertis
It is a huge economic stimulation plan The project immediately received a which will continue to lead investment worth 70 billion dollars, intended to warm welcome from the private sector, which policy. As well as establishing the founda- expand the country’s road and rail network considers it an important boost for modern- tions to drive sustained medium/long-term during the next 25 years. Specifically, the ising the country. According to the CEO of growth, in the short term the President of new Integrated National Logistics Plan abertis, Francisco Reynés, “Brazil has the Brazil is seeking to maintain an economy includes the construction, widening and foundations for a long-term commitment. that has expanded at an average of more modernisation of almost 7,500 kilometres It is a country with great potential and an than 4% in the last few years, making it the of roads and 10,000 kilometres of railways, important commitment.” Aware of the chal- sixth biggest world power. For Spanish com- as well as the first high-speed train in Latin lenges facing her country over the next few panies, including abertis, the new infra- America which will link São Paulo and Río years, Dilma Rousseff intends once again to structure plan offers an interesting business “The plan will help the country to be Brazil prepares for de Janeiro. The aim of the ambitious plan is rely on the private sector, after its loss of opportunity. richer, more solid, more modern and more its future projects. The Brazilian For the 2014 World to attract more than 66,000 million dollars importance over the past decade, and to competitive. The challenge is to provide government’s new Cup it is renewing in investment to provide Brazil with better commit herself to a business initiative that Measures to boost the economy Brazil with an infrastructure compatible the historic facilities before the staging of the two big is crucial for the success of the plan. Rousseff Dilma Rousseff has complemented the great infrastructure plan with its size,” says the Brazilian President. Maracaná. sporting events that will be held in the coun- is committed to a public-private cooperation investment in infrastructures with new for- offers an interesting “It is not a programme so that the invest- try in 2014 and 2016: the Football World (PPC) that will benefit the country by con- mulas to promote production, consumption new business ments can be diluted in 15 or 20 years,” adds Cup and the Summer Olympics. “To continue solidating its expansion in the future and and employment through new incentives. Rousseff, who has also set herself the target to be a fair country, Brazil must have an increasing its competitiveness, allowing it to In September, the capital of the country, opportunity for abertis of reducing transport and energy costs. panies’ interest in Brazil is growing. The increasingly competitive economy, with play in the economic Premier League. Brasilia, announced the elimination of the Brazilian government itself recently encour- good infrastructures,” said its President, And all this without forgetting the payment of company taxes for 25 produc- Spanish interest aged countries with an international profile, Dilma Rousseff, in August. investment effort made by the Government, tive sectors, a measure that will cost 6,500 cessions offering the private sector attrac- While they wait to find out the small print including abertis, to participate in the new dollars a year and which will come into force tive conditions without ignoring the social of the new infrastructure plan, Spanish com- infrastructure mega-plan. n in 2013. In exchange, businesses will pay a aspect upheld by Dilma Rousseff. lower tax on their income. Despite the impact of the world crisis and the growth Phases of the plan GNP per head in US dollars (base 100 = 1980) of the population’s indebtedness, Rousseff’s In its first stage, the strategy to boost the government predicts a growth in GNP of development of infrastructures includes plans Brazil Spain USA Argentina more than 4% for 2013. to double the capacity of the main toll roads, 1,200 The economic circles, businesses and the construction of sections of railway and 1,000 principal trade unions have given a positive road and railway concessions. The second welcome to the most ambitious privatisa- phase will include a huge project still to be 800 tion programme launched since 2003 and defined concerning ports, according to the 600 they hope it will make it possible to double Minister of Transport Paulo Passos. The plan 400 President Dilma national investment, as well as bringing in will be managed by a new public company Rousseff relates foreign investment. The experts approve the the Logistic Planning Company, in charge of 200 competitiveness change in model in terms of cooperation integrating the projects and supervising the 0 to big investment in with the private sector and they look favour- works. Finance will be channelled through the 1980 1984 1988 1992 1996 2000 2004 2008 2012 infrastructures. ably on the creation of a framework of con- Brazilian National Development Bank (BNDES).
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International presence The role of infrastructures in a global world In Brazil, the president of abertis, Salvador Alemany, backed the investment effort being planned by the Brazilian government concerning the new infrastructures plan
Text and photos abertis
In a world where information tech- nologies and infrastructures largely Economy Night The CEO of abertis, cancel out the concept of “distance”, eco- Francisco Reynés, nomic policies require increasing interna- receives the tional coordination. This is one of the theses award from the honorary president upheld by the president of abertis, Salvador of La Caixa, Alemany in the lecture. Investing in Infra- abertis receives Ricardo Fornesa. structures in a connected world, organised by the IESE business school last November in São Paulo. The meeting was also attended an award for the best by Sergio Aranda, managing director in Latin America of Gas Natural Fenosa; Paulo Ricardo Stark, president and CEO of Siemens Brazil, and the moderator of the event, Edu- operation of the year ardo Martínez Abascal, lecturer at the IESE Business School. The company received the reward from the newspaper ‘elEconomista’ Beyond its direct impact in terms of for the operation to purchase OHL’s toll roads in Brazil, which has made investment, the president of abertis stressed abertis the world leader in the toll roads sector that the important thing about infrastruc- tures “are its results in terms of territorial Text and photos abertis redistribution of wealth” because it facilitates the establishment and generation of eco- nomic activity around the big road corridors, The CEO of abertis, Francisco Reynés, Autonomous Community of Madrid, Igna- business innovation programme over the The president of abertis, Salvador Alemany, as well as linking and articulating the interior during the lecture given in Brazil. received the award for best operation cio González , and the Secretary of State for Internet; Áreas, winner of the award for of a country with the big metropolitan areas, of the year from the honorary president of Trade, Jaime García-Legaz, as well as about Internationalisation for its commitment to strongly boosting attractiveness and growth. La Caixa, Ricardo Fornesa. As part of the 400 business people. the foreign market, with growth in airports Meanwhile, he added that “investments in Economy Night gala organised by elEcono- The other award-winning companies and toll roads in the United States and, infrastructures show two characteristics that based infrastructures over the next few years. constant in the provision of basic, regulated mista last November, abertis received the were the Integralia Foundation, receiving finally, the Award for Economic Personality differentiate them from other assets: they In this context, the president of abertis services, such as water, energy, sewerage and award for Best Business Operation of the the Award for the Best Corporate Social of the Year, which went to María Dolores require a long-term vision concerning plan- warned of the importance of establishing a certain road infrastructures. Year in recognition of the operation led by Responsibility (CSR) Initiative for its con- Dancausa, CEO of Bankinter, for her profes- ning and finance and, once implemented, clear strategy “that allows us to fill the so- According to the president of abertis, the company in Brazil, which has culminated tribution to the development of economic sional career developed entirely in the they cannot be delocated. called infrastructure gap; that is, the distance the necessary conditions for the Administra- in the purchase of OHL’s toll roads in that activity while helping deprived sectors; the finance and insurance sector in Spain. between infrastructure needs and public tion to commit itself to PPC are the avail- country. The evening rewarded professional National Distance Learning University The awards were presented at the Caix- Public-private cooperation administrations’ capacity to drive them for- ability of a legal framework making it pos- recognition, prestige, support and promotion (UNED), winner of the Award for the Best aForum auditorium in Paseo del Prado, Madrid. In his lecture in São Paulo, Salvador Alemany ward, finance them and manage them. We sible, an infrastructures policy designed in of the economic activity generated by the Educational Initiative for its work in sup- The official presentation and welcome speech recalled the great investment effort being will have to think about how to make them the long term, a complete methodology for Spanish business sector. Presiding over the porting the social and employment integra- at the event were made by the chairman of considered by the government of President possible financially without calling into ques- selecting and prioritising the projects to be ceremony was the Minister of Finance and tion of disabled people; Geeksphone, winner Editorial Ecoprensa (publisher of elEcono- Dilma Rousseff, which is planning an invest- tion attention to other public needs”. This developed and, finally, a payment-for-use Competitiveness, Luis de Guindos, and was of the Award for Digital Innovation for its mista), Alfonso de Salas, and the honorary ment of more than 65 billion dollars in land- makes public-private collaboration (PPC) a financial model applied equally.n attended by the Prime Minister of the originality and courage in carrying out a president of La Caixa, Ricardo Fornesa. n
14 n link abertis n JANUARY 2013 JANUARY 2013 n Link abertis n 15 interview
Chairman of the ABCR Moacyr Duarte «Road concessions in Brazil are consolidated» The chairman of the Brazilian Association of Road Concession Holders (ABCR) analyses the current situation in the management of the Brazilian road network
Text abertis | photos ABCR
Moacyr Duarte is chairman of the opposition of certain sectors with precon- Profile Brazilian Association of Road Conces- ceived ideas against them. Moacyr Duarte Servilha is a sion Holders (ABCR), an organisation bring- n n n graduate in Law from the Faculty ing together 45 concessions which, in total, How do you analyse the concession sec- of Law at the University of São manage and conserve more than 15,000 tor in Brazil? Is it now a mature, consoli- Paulo in 1962. kilometres of roads. Duarte sees the conces- dated business? sions as a mature, consolidated sector which After almost 20 years, road concessions in He worked at the Camargo Corrêa group, where he occupied has been crucial in the modernisation of the Brazil are consolidated and characterised various posts. He was a member country’s infrastructures and economy. As by the making of big investments, as well of the Board of Directors of well as opening the door to the participation as the implementation of new technologies Banco Geral do Comércio. of international operators, such as abertis, to make the operation, safety and main- Between 1991 and 1995 he in Brazil, he defends the role of private com- tenance of the roads more effective. In worked in Portugal, at Bento panies, like those grouped together in ABCR, 1993, the Brazilian Federal Road Concession Pedroso Construçoes in the provision of public services despite the Programme (PROCOFE in its Portuguese (Odebrecht), where he took part abbreviation) was launched. The first con- in the tender for the River Tagus tract, for the Río-Niterói bridge, was signed Bridge concession. in December 1994. The charging of tolls He currently carries out legal began in August 1996 on the Río-Niterói consultancy activities and chairs ABCR was set up in bridge and the Presidente Dutra road link- the Brazilian Association of Road 1996 with 7 members ing the cities of São Paulo and Rio de Concession Holders (ABCR). and it now has 55 Janeiro. State programmes were established operating 15,473 after 1997. ABCR was set up in June 1996 kilometres of roads, with 7 members and it now has 55 operat- ing 15,473 kilometres of federal, state and 7.2% of the surfaced municipal roads, 7.2% of the surfaced Bra- Brazilian network” zilian network.
16 n LINK abertis n January 2013 n n n This procedure would require the gov- n n n THE RESISTANCE The Brazilian government recently ernment to carry out a very high quality What are the outstanding advances in TO CHARGING TOLLS announced that it intended to grant other viability study, with a proper traffic projection the history of the concession sector in IN BRAZIL IS SIMILAR road concessions. How do you assess and a realistic estimate of the investment Brazil? this new process? and operation costs. The viability studies Firstly, we must highlight the improvement TO THAT IN OTHER Considering the need to improve the coun- already published for the first two batches in the quality of the roads, which is trans- COUNTRIES, LARGELY try’s road infrastructure and the good results of concessions, including stretches of the lated into benefits in operating costs, THOSE WHERE achieved until now with the concessions, for BR-040 roads between Brasilia and Juiz de especially for freight transport firms, and CONCESSIONS ARE ABCR the Federal Government’s decision Fora and the BR-116 in the state of Minas better safety and comfort for users in gen- MADE IN ORDER TO announced in August to grant another 7,500 Gerais, do not show this level of quality and eral. From the beginning of the concessions RECOVER, WIDEN, kilometres of roads to private initiative is very have been called into question by the inter- to August 2012, 3,381 kilometres of surfaced positive. The sections are grouped into nine ested parties. roads have been constructed on the routes MAINTAIN AND OPERATE batches, seven of which are at the initial subject to concessions. 694,000 square existing roads” viability study phase, with the other two at THE CONCESSION metres of new bridges and viaducts have more advanced phases. been constructed and approximately 3.9 Generally, the issues being raised are HOLDERS HAVE million square metres of these structures mainly related to the criteria announced IMPROVED THE QUALITY have been recovered. As for the safety meas- concerning the form of the tender process: OF THE ROADS, WHICH ures taken, the concession holders have without prior classification of the interested TRANSLATES INTO installed 1.8 million metres of cement bar- parties and without technical or commercial OPERATING COST riers as well as 3.7 million metres of metal bases), with 503 light and heavy tow trucks bids. Once again, so-called phase inversion BENEFITS FOR railings. To September this year, 2,272 cam- and 378 ambulances. is to be used, in which only the documents eras, 6,501 SOS posts and 3,337 fixed and While before roads were largely operated of the tenderer who presents the lowest bid TRANSPORT COMPANIES mobile radars had been installed on roads based on information obtained by radio, for within the time limit established by the gov- AND GREATER SAFETY under concessions. Concession holders have example, information is now transmitted in ernment are opened. FOR USERS” built and operate 320 SAU (customer care real time using high-quality images digitally recorded by monitoring cameras installed on the road network. This is due to the fact that the sector is investing in complex and latest- generation technologies allowing Operations Control Centres (OCCs) to continually super- vise the roads. The survey carried out annually by the National Transport Confederation (CNT, further information on its website: www. cnt.org.br or from the organisation itself) noted that the private concession roads obtain a much higher rating that those oper- ated by public bodies, which confirms the success of the concession programme: the 21 best Brazilian roads are in the hands of private initiatives. Concerning institutional advances, after the start of the Federal Road Programme, Act 8,987, dated 1995, was promulgated, estab- resolved in favour of the concession holders. n n n lishing the so-called Concession Act establish- Agencies were also established to regulate Is there any kind of resistance to the road ing the respective legal framework. Among and oversee the Road Concession Pro- concession model in Brazil? other points, this law established that in Bra- grammes, such as the federal programme The resistance to charging tolls is similar to zil the price tariff criterion would be used, in 2000 (ANTT) and the São Paulo State that in other countries, largely those where, instead of the cost one used until then, with one (Artesp) in 2002. Agencies were set up as in Brazil, concessions are made in order which the concession holder accepts the in other states, some of them not specifically to recover, widen, maintain and operate business risk. In the case of roads, this cor- in the area of transport. existing roads. From time to time the well- responds to traffic risks, investment and n n n known arguments that the toll is double operating costs, as well as securing the nec- How do you assess the security of con- taxation or that the users are paying for the essary finance and its respective cost. tracts in Brazil? What have been the road again crop up, as if roads lasted forever With the implementation of the Road advances in this sense? and didn’t need improvements. Despite the Concessions Programme, various legal The High Courts (Federal Supreme Court fact that the surveys carried out among challenges were made over issues such and High Court of Justice) have ensured users indicate a high level of satisfaction as the charging of a toll on a road with a compliance with contracts through case with the services provided, when asked spe- single carriageway in each direction and the law that has become consolidated over the cifically about the amounts paid in tolls, the need for an alternative route. These were past 10 years. majority answer that they consider them
18 n LINK abertis n January 2013 January 2013 n LINK abertis n 19 merely with tolls. The best prospects can be Private contributions of tolls currently collected in booths. Those found in sponsored concessions, which could in infrastructures who now do not pay, however, tend to offer even make greenfield, schemes viable, as great resistance to the new system, despite in Brazil there are just over 200,000 kilome- have been and will the small amount they would be charged. tres of surfaced road, representing less than continue to be an To give an idea of what this means, in 13% of the total roads in the country (about important factor for the case of the President Dutra road, just 10% Global operators, like 1.5 million kilometres). Considering the the development of of users pay tolls (it initially had 4 toll points abertis, can play an extent of Brazilian territory, the road network the country, despite in 402 kilometres with almost 2,000 important role in the is the smallest in any of the 20 largest world certain preconceived accesses). Attempts to reduce the problem economies. There are no sponsored conces- by doubling the toll booths, with the conse- road concession ideas against private programme” sions yet on federal roads. ABCR’s current quent proportional reduction in tariffs, met members have 53 common concessions participation in the many implementation difficulties despite and just 2 sponsored ones, both of them provision of public having considerable support from the conces- state roads: Pernambuco and Minas Gerais. services” sion awarding body. n n n n n n What have been the main benefits to From a general point of view, how do Brazilian society of the road concession you see the evolution of the Brazilian system in Brazil? economy in the current context of cri- Brazil’s modern roads were built since 1945 sis in the big world economies? And, with resources from the National Roads specifically, how has the Brazilian Fund, viable thanks to fuel tax. After the economy behaved in the American con- beginning of the eighties, the resources from text? What factors would you highlight this tax were diverted for other purposes as attractive and competitive? and, in 1998, with the new Federal Constitu- We can state that the development of the tion, the fuel tax disappeared and tax linking Brazilian economy has been quite satisfactory was prohibited, so the National Roads Fund in an environment of world crisis. It was pos- ceased to be viable. The lack of resources sible to absorb the initial impact of the led to the rapid deterioration of the road American crisis because the Brazilian banking network and made it necessary to seek system is solidly based. The crisis suffered by alternatives at the beginning of the nineties. Brazil in previous decades meant this sector Of these, the most successful was road con- had to be cleaned up, with the imposition of cessions granted to private initiatives, which consistent patterns of regulation and super- came to operate the most important trunk vision. Brazil is outstanding for its consoli- roads, especially in the southern and south- Congress (CBR&C) held in 2007, ABCR has dated political institutions and a significant eastern regions, providing excellent quality. incentivised the debate on free flow which domestic market. This significantly benefited users in terms it is believed will be implemented in the n n n of operating costs, safety and convenience. medium term in Brazil. Currently, almost 50% In many countries, the economic crisis is As well as transferring investment, mainte- of vehicles passing through toll booths use reflected in larger public deficits and nance and operating costs to users, govern- tags. Recently, technological tests have been greater indebtedness. To what point to ments also obtained taxation and conces- carried out on roads in the state of São Paulo you consider that private contributions to be high. This resistance to payment In Brazil there are toll income and additional projects (basically sion income which, over the last 10 years, with gateways that could replace toll booths. in the area of financing and managing among users means that some sectors try just over 200,000 advertising and payment for use of the land has exceeded 10 billion dollars. The effective implementation of free flow infrastructures constitute a factor that to seek electoral benefits by criticising the kilometres of associated with the road), which do not n n n means overcoming two main obstacles. stimulates and boosts this development? concessions or attempting to make it dif- amount to 3% of toll income. In sponsored What role can global operators like The first is the monitoring of the vehicle Private contributions in infrastructures ficult to comply with the contracts. surfaced roads, less concessions, tolls are charged but there is abertis play in Brazil (operators strongly fleet to make sure that almost all vehicles undoubtedly have been and will continue to n n n than 13% of the total also a subsidy from the awarding body, nec- committed to public-private cooperation using the road pay the toll as, at the moment, be an important factor for the development How do you analyse the future of conces- roads. Considering the essary for allowing reasonable charges bear- projects in Europe and America)? almost a third of vehicles do not pay, either of the country, despite the fact that, in some sions in Brazil? Do you think there is extent of Brazilian ing in mind the value of the investment Global operators like abertis can play an for licences or fines. This can be resolved sectors, there continue to be certain precon- potential for big growth in this business territory, the road required and the low level of traffic. Admin- important role in the Road Concession Pro- through the implementation by the Federal ceived ideas against the participation of over the next few years due to the vision network is the istrative concessions on roads correspond to gramme, largely in carrying out greenfield Government of the National Automatic Vehi- private initiative in the provision of public of the Federal Government? the shadow toll, where tolls are not actually works with sponsored concessions, as a result cle Identification System (SINIAV), due to services. However, these preconceived ideas There are three types of concessions in Bra- smallest of any of charged but the government pays the equiv- of their specific experience in this sector in begin in January 2013 and which will be com- are being overcome due to the need to attract zil: the common one, instituted by the 1995 the 20 biggest world alent to the concession holder. projects developed in other countries. plete by 2014. private initiative, both because of its capac- Act we have already mentioned, sponsored economies” The expectations for the sector con- n n n The other issue is related to the resist- ity to mobilise the financial resources required ones and administrative ones. The last two cerning common concessions, taking into Can the application of dynamic toll tech- ance of people currently using roads without and because of the management perform- were established by the 2004 Act and which, account the works recently announced by nologies (remote tolls, GPS...) contribute paying tolls because they drive along ance of companies which, among other in Brazil, are known as Public-Private Asso- the Federal Government which have already to more effective traffic management? stretches without toll booths. One of the aspects, are much more flexible in introduc- ciations (PPP in its Portuguese abbreviation). been mentioned, are not very promising, as To what point are these technologies a arguments used to make free flow viable is ing new technologies and solving problems In the common concession there are no sub- it is difficult to see many more projects that priority in Brazil? that it would lead to an increase in the payer resulting from natural disasters and major sidies: the road is maintained exclusively from could be viable under this system, paid for Since the Brazilian Roads and Concessions base, making it possible to reduce the value accidents. n
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Purchasing and General Services depart- Some examples of shared services in Spain Photo of the DGRIyE team Internal Resources and Efficiency Department ments, as well as the Corporate Organisation are the management of the technological at a recent meeting of managers and directors. and People Departments and the Special infrastructures at the Data Processing Centre, Projects Department. the financial and personnel management services provided on corporate computer A multidisciplinary, Core areas of the Department systems (which are therefore shared by busi- Service culture is one of the main bases for ness units) and the management of corporate the Department of Internal Resources and buildings and other general services. Examples competitive and Efficiency. “The reason for the existence of of services at Group level include manage- all the departments making up the DGRIyE ment of managers and the coordination of is to provide services to the Group’s business people development programmes, such as units effectively and with quality,” says its Talent or Abantia. innovative team general manager Lluís Deulofeu. Another of this team’s core functions is to drive the Project orientation Group’s efficiency programme and to set an In order to meet the Group’s needs, the Inter- The purpose of the Internal Resources and Efficiency Providing corporate services and opti- example in implementing efficiency actions nal Resources and Efficiency Department is Department is to provide services cutting across the mising operating costs and operational in all the services provided by the different also oriented towards working in project form. whole group to ensure its growth, increasing its value and investments in order to improve the abertis departments. Very often, because of their multidisciplinary group’s results.. These are the main lines characteristics, these projects require coop- Service culture forms ensuring greater competitiveness and efficiency in each defining the programme of the Internal Service culture eration between several departments and one of the main bases one of its businesses. Resources and Efficiency Department Common to all areas of the DGRIyE is their with the rest of the corporation and business for the general Text abertis | photos David Campos (DGRIyE). This Department, which began in orientation towards providing services units on different improvement and efficiency management of mid-2011, integrates the functions of the to abertis’ business units with the highest projects and initiatives. One example of this Group’s shared services in Spain, consisting level of quality at the best price, taking is the project to renew the wages manage- internal resources of the Information Systems, Management, into account the Group’s need to develop. ment system in Spain, which, under the lead- and efficiency
22 n link abertis n January 2013 January 2013 n link abertis n 23 ership of the Administration and Information concern to provide service also obliges it to of the different businesses. To oversee the systems, already implemented in the goods/services through electronic tendering, Systems departments, has required close be decisive and constantly concerned for proper implementation of the programme, business units in Spain, which incorporate as well as carrying out cross-Group purchas- The DGRIyE is cooperation from the People and Organisa- quality. the Efficiency Committee has been set up abertis’ own management processes. ing to obtain better results in negotiations. tion areas of the corporation and the business with responsibility for its main lines and coordinating the units in Spain. Other examples are the many The efficiency programme monitoring its results. The Efficiency Com- Good practices throughout Short- and medium-term efficiency programme process automation initiatives based on cor- The Internal Resources and Efficiency mittee is based on specific bodies like the the group challenges across the group. This porate systems which are continually being Department coordinates the efficiency pro- Staff Committee and the OPEX/CAPEX The Department is attempting to impose a The Internal Resources and Efficiency Depart- takes the form of a set up within the Group. gramme across the group. Its benefits can (Operational Expenditure/Capital Expend- group vision by sharing best practices among ment always tries to adapt to the needs of be seen in the results of the Group, which iture) Committee, which is in charge of business units, applying synergies between the business units so that they receive all the 2011-2014 plan including A dynamic team is protecting its Ebitda and cash-flow, largely analysing and authorising the most impor- them whenever possible. Along these lines, necessary support in order to achieve the all the efficiency The team making up the Internal Resources thanks to the optimisation of operating costs tant expenditure and investments. Other there are collaborations with the different results established in the efficiency pro- initiatives of the and Efficiency Department has to be and the control of operational investments. key elements are, on one hand, strengthen- toll road business units in creating bench- gramme. In the short and medium term, the different businesses “dynamic and innovative”, according to its The programme takes the form of a 2011- ing the purchasing function and promoting marks and analysing their implementation aim is to extend the efficiency programme general manager, Lluís Deulofeu, as “it needs 2014 plan which, drawn up jointly with the the implementation of electronic tendering of best practices (surface repairs, toll technol- to the new business units incorporated into to drive the Group to evolve in accordance business units and the Corporate Manage- (auction) mechanisms throughout the group ogy, etc.). In addition, the Purchasing area the group as part of its internationalisation with the needs of the new environment ment Control Department and updated and, on the other, the international deploy- supports all business units in identifying plan (as in abertis’ latest operations in Bra- (internationalisation and efficiency)”. Its annually, includes all the efficiency initiatives ment of corporate management computer opportunities for the joint contracting of zil and Chile). n
The DGRIyE departments for the families that cut across the From left to right, Juan Rodríguez de la Rubia, in detail Group’s companies in Spain. It is special projects manager; Francesc Sánchez, also responsible for defining administration manager; Josep María Gómez Corporate Organisation general service provision policies, Hospital, purchasing and general services Department: defines and promotes particularly in terms of manager; Lluís Deulofeu, managing director the implementation of policies, for internal resources and efficiency; José management and standards projects and homogeneous criteria Carlos Moreno, information systems affecting office space. manager; Jordi Fernández, corporate for action to guarantee the organisation director; Joan Rafel, corporate coherence of organisational Information Systems Department: people director; Santi Rodríguez, structures, as well as marking out establishes the Group’s policies management assistant. responsibilities to ensure and directives in the area of everything is in line with the Information and Communication Group’s strategy and objectives. It Technologies. It co-ordinates the also promotes the implementation various departments involved in of the processes model and of the aim of ensuring the future recognised, certifiable convergence of the current models, management systems in terms sharing knowledge and rolling out of quality, creating a dynamic of best practices. To do this it continuous improvement and determines the reference the search for excellent hardware/software standards for service quality. systems development, consolidates the Group’s Corporate People Department: communications map and is responsible for defining and establishes general criteria for promoting the implementation interconnection between of policies, projects and networks. standardised action criteria in line with the company’s project Management Department: to help people achieve the establishes the policies and organisation’s objectives. It directives in the area of the is responsible for managing provision of financial management, managers (development, operational cash flow and remuneration and benefits) personnel management for the for the whole abertis group. abertis group’s companies in Spain. It is responsible for Purchasing and General Services providing financial management Department: defines the Group’s (accounting, fixed assets, accounts purchasing policies and directives, payable, etc.), operational cash as well as the national and flow and personnel management international coordination of the (wages management) services for different departments involved these companies. with the aim of optimising purchasing management by Special Projects Management: taking advantage of synergies and leads the implementation of reducing the degree of dispersal. It projects that cut across the also provides purchasing services whole Group.
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Expansion in Latin America abertis strengthens its leadership in Chile The company is taking control of the Andes, Sol and Libertadores toll roads, adding a further 343 kilometres to the network abertis manages in the Andean country Enrique Calcagni, general manager Luis Miguel de Pablo, David Díaz, general manager Text abertis | photos David Campos of abertis Chile. CEO of OHL Chile. of Autopistas América.
Alongside the acquisition of conces- operation has been carried out for a total to the company’s internationalisation proc- consists of 2 sections: the North-South link sions in Brazil, abertis has also After the agreement, sum of 204 million euros, a sum the Group ess and consolidates abertis’ stake on the road, which connects the River Maipú with reached an agreement with OHL for the abertis reaches 770 will find from local finance without recourse. American market. In the first quarter of the Américo Vespucio North toll road, and acquisition of the company’s concession This acquisition, which meets the strict 2013, the American Toll Roads Department, the General Velásquez link road, running assets in Chile. After the completion of the kilometres of toll profitability criteria set by the group, makes headed by David Díaz, has the aim of fully from Route 5 South to its junction with operation, the Group has taken control of road concessions abertis the biggest toll road operator in integrating the OHL concession holders in The aim of the American Route 5 North. 3 toll road concession holders in the coun- in the country Chile, where it has more than 770 kilometres Chile into the network abertis already man- Toll Roads Department The good performance of the Chilean try, with a total of 343 kilometres. The of concessions. It also supposes a new drive ages in that country in a single company economy means that the evolution of focused on growth, improved efficiency and is to integrate the OHL the traffic on this country’s toll roads is value creation. concession holders very positive. This is a market with which The assets abertis is incorporating into in Chile into the abertis is completely satisfied and which its portfolio are the Andes toll road (92 network abertis stands out for the seriousness, efficacy kilometres), connecting the city of Los Andes and solidity of its concession system and with Route 5 North; the Sol toll road (132 already manages the stability of its institutional and eco- kilometres), linking Santiago de Chile with in that country nomic framework. n the port of San Antonio; and the Libertado- res toll road (119 kilometres), communicat- ing the capital of the country with important cities in the north of the Santiago metro- politan region and with the provinces of San La Calera Los Andes Felipe and Los Andes.
abertis’s presence in Chile In the past few years, abertis has become consolidated as the main toll road operator Valparaíso Limache in Chile where before this new operation it already managed 480 kilometres of high- capacity roads. The Group controls the Rutas del Pacífico concession, which man- C h i le ages the toll road of the same name, with
131 kilometres, between Santiago de Chile Santiago de and Valparaíso and Viña del Mar; elqui, Chile holder of the Los Vilos-La Serena toll road with 229 kilometres; and gesa, which oper-
ates the Santiago-Los Vilos section (218 San Antonio kilometres). abertis also manages the Central toll Melipilla road, which, with a length of 61 kilometres,
26 n link abertis n JANUARY 2013 JANUARY 2013 n link abertis n 27 Conference on Airports Competition Regulation, key to generating competition The conference brought together experts from the sector who laid out the implications of airport regulation and aspects that can distort competition
Text and photos abertis
Competition between airports may between those in Germany. However, the also dealt with the subject of en-bloc priva- be viable, although it is recommended larger airports “can enjoy market power. tisation compared with the individual priva- that in each case its scope should be analysed. Because of this, the possibility of competition tisation of airports. He indicated that the first In some cases the need for regulation may between airports must be assessed case by option guaranteed greater income from the persist. This is one of the conclusions of the case”. sale, although “if what you want to do is Conference on Airports Competition (Barce- Meanwhile, Professor Peter Forsyth achieve efficiency improvements, the best lona, 19 November), organised by the Bar- (Monash University, Australia) argued that, thing is to privatise individually, encouraging celona Economics Institute and the abertis- in cases where competition is intense, regu- competition between airports”. FEDEA chair. The conference attempted to lation is unnecessary. Where there are pos- look in depth into the issue of competition sible situations of market power, “regulation Route development between airports. In the first place, therefore, must be designed in such a way that it The day concluded with a round table about the application of the concept of competition encourages competition, avoiding restrictions the development of routes at airports. Taking in this context was considered. Secondly, that hinder it”, he added. Competition may part were the business development manager where this competition is possible, the experts be incentivised by policies aimed at the lib- of abertis airports, Bob Bullock; Ofelia Betan- The EOC of abertis, asked one another about its implications in eralisation of bilateral international agree- cor, representative of the abertis-Fedea; New abertis chair in Chile Francisco Reynés (in the centre) poses at terms of airport regulation and social welfare. ments, the reduction of integration between chair; Mario Rubert, of the Barcelona Airport Theabertis group is continuing to Education and research the Spanish embassy Finally, there was a debate about the aspects airports and the impulse of the slots market.. Route Promotion Committee, and the previ- expand its network of chairs in The newU niversity of Chile abertis in Chile after the that can distort this kind of competition. At the same time, “public policy actions capa- ous speaker Mike Tretheway. During the debate, Transport Infrastructure establishment of this chair, like the ones of the same name in new abertis chair . In his lecture, Professor H.M. Niemeier ble of distorting competition in the market” the reasons justifying the need to promote Management in countries where Spain, France and Puerto Rico, will (University of Bremen) stated that airports must be avoided. routes in airport markets subject to a greater it has a presence, in this case the focus its activity on education and compete with one another in different seg- Based on an analysis of the situation in degree of competition and the factors deter- Andean republic research concerning transport ments of the market: to attract traffic both Canada and the United States, Professor Mike mining their effectiveness were made clear. infrastructure management. Students, in local markets and in areas of attraction; Tretheway (Intervistas) presented the pos- Along these lines, Bob Bullock, business In January, the abertis group presented researchers, lecturers and for connection traffic (competition between sible sources of competition distortion. He development manager for abertis airports, a new abertis chair in Transport professionals from this field will take hubs; ); for air freight or to attract airline bases. argued that marketing policies carried out gave the example of the management of Infrastructures Management, set up part in the work. Dr. Sergio Jara, lecturer Niemeier noted that “there is evidence of by airports could be positive. abertis’ airports and stressed that route together with the Faculty of Physical in the Economics of Transport at the competition between small or medium-sized In the case of public aid, “a rigorous planning is carried out involving airlines, the Sciences and Mathematics of the University of Chile, will be the director airports”, for example, between the airports assessment, preventing possible distortions region and other stakeholders in order to University of Chile. The official of this new chair. of the United Kingdom and, to a lesser extent, of the market, is required”. Mike Tretheway agree objectives. n presentation took place at the Spanish embassy in Chile, in the presence of the University and business ambassador, Íñigo de Palacios; the CEO Conscious of the importance of the link of abertis, Francisco Reynés; the with the academic world for social and director of the School of Engineering at economic progress, the abertis group the University of Chile, James McPhee, has been promoting education, representing Francisco Brieva, dean of research and knowledge transfer the Faculty of Physical Sciences and between universities and business Mathematics; the director of the abertis since 2003. The international network chair in Chile, Sergio Jara; the chairman of specialised abertis group chairs will of the Official Spanish Chamber of soon be increased with the Commerce in Chile, José María Castillero; establishment of the abertis chair in and the consul at the Spanish Embassy Brazil, coinciding with the recent From left to right, the moderator of the responsible for trade and economic acquisition of OHL Brazil, making debate, Jaume Adrover, and the speakers affairs, JoséA ntonio García. abertis a world leader in its sector. n Ofelia Betancor, Bob Bullock, Mike Tretheway and Mario Rubert.
28 n link abertis n January 2013 January 2013 n link abertis n 29 travel Valparaíso The inspiring ocean’s bride
The hills of Valparaíso, full of steep alleys and multicoloured buildings, tower boldly above the Pacific. The capricious urban physiognomy of the port city, declared a World Heritage Site by Unesco, is the physical metaphor of its amazing port character, which hopelessly captivated Pablo Neruda
Text David Revelles | photos agencies
It was 1954 when Pablo Neruda pub- and with a historic centre declared a World lished Las odas elementales (Elemental Heritage Site by Unesco in 2003, modern odes), including an outstanding poem reveal- Valparaíso continues to contain all the port ing his unconditional passion for a city. “On flavours that captivated the author ofVeinte your southern chest / are tattooed / struggle, poemas de amor y una canción desesperada / hope, solidarity / and joy as anchors / resist- (Twenty love poems and a desperate song). ing / the waves of the earth” wrote the bard The city, formed by districts in the hills climb- in his Oda a Valparaíso (Ode to Valparaíso), a ing up from the bay and the coastal area called tribute to a city that was his refuge and inspi- El Plan, continues, like a good port, to be pas- ration for a long time. Because in this rare sionate, picaresque and bohemian. Nor does architectural bird that is Valparaíso – a tapes- it lack the touch of madness necessary for try of viewpoints, endless flights of steps and survival. “Valparaíso, what an absurdity / you little square. Not very far away are two popu- One of the large Viña del Mar, houses that work of the wealthy elite gardens of the Plaza José winding streets climbing its 42 hills – the invis- are, / what a crazy, / insane port, / your hilly lar establishments recalling the age when the the mature youth characterise the who settled there after the Francisco Vergara, with the ible tie to the poet is still very much alive. head, / dishevelled,” celebrated Neruda. To a city was a bustling port: the: the Inglés Bar landscape of of the ‘garden city’ Valparaíso. earthquake that hit Municipal Theatre as its However, there is nowhere that condenses large extent, the city’s strong character and (Cochrane, 851) and the La Playa Bar (Serrano, The history of Viña del Mar, Valparaíso in 1906. One of landmark building, is a this union like La Sebastiana, the house where its people have a great deal of determination. 567). Walking northwards you reach the Prat to the north of Valparaíso, its treasures is Wulff Castle. good place to rest before Neruda lived after 1961. Turned into a museum The port of Valparaíso, the largest in the south- Wharf, the starting point of the guided tours cannot be compared with Built in 1905 for a German heading north and trying in memory of the poet and an icon of the city, ern Pacific at the beginning of the 19th century, of the bay. The excursion is worthwhile, above that of the port. Founded in trader, its towers facing the your luck in the Municipal it is a vantage point clinging to the summit of lost its importance overnight after the open- all because it allows you to see the hills of 1874, it may still be Pacific are one of the best- Casino (1932). The Quinta, Bellavista hill. From these heights, it contem- ing of the Panama Canal. Then came the dev- Valparaíso, covered with houses and their youthful, but it is now known picture postcards of Libertad and Quillota plates the Pacific, just as Neruda used to do astating earthquake in 1906 and the city had multicoloured façades. mature and full of the garden city. Nearby, the bridges leave the Rioja and for hours at a time. “I love Valparaíso, how to be reinvented. The modern city of Valparaíso Calle Prat and its extension and calle attractions. Viña del Mar, castle hill frames the Carrasco mansions, both much you contain, / and how much you give continues to celebrate this character. Esmeralda are the umbilical cord between the garden city, has become Presidential Palace (1929) from the beginning of the one of the most and the Vergara Palace 20th century, a stone’s out, bride of the ocean,” he said, in one of his The Plaza Sotomayor, presided over by Plaza Sotomayor and Plaza Aníbal Pinto. In sophisticated tourist (1910), the modern Fine Arts throw away, together with most famous poems devoted to the city. the statue of the Heroes of Iquique and with this quiet square is a real institution of the destinations in Chile, an Museum, located in the the huge collection of the emblematic buildings like the Comandancia, city not to be missed, the Cinzano Café excursion not to be missed Parque Quinta Vergara, Francisco Fonck Museum The soul of a port is the best area to start a tour of the origins of (www.barcinzano.cl), founded in 1896, for anyone staying in with a tree-lined annex of Archaeology and History, There is no doubt: Neruda’s verses are the best Valparaíso. Plaza Echaurren is the place where whose lively surroundings inspire you to Valparaíso. Its heritage framing its white neo- with an original moai from sentimental guide for discovering the essence the Spaniard Juan de Saavedra disembarked continue the route once again. At the cross- particularly presents its Gothic architecture. Not far Easter Island presiding over of Valparaíso. Lying right in the middle of Chile in 1543. The Matriz church presides over the roads between Prat and Esmeralda is the castles and palaces, the away, the ponds and its entrance.
30 n link abertis n January 2013 January 2013 n link abertis n 31 35 emblematic Turri clock (1929), which not decimononic mansions and stately homes. Above all, the anarchic architecture only tells the time, but thanks to the prox- On Concepción hill, the imprint of the thou- planned by Neruda at La Sebastiana is a copy interview | JUAN JAÑA imity of the Concepción lift, is a full invita- sands of European immigrants who arrived of Valparaíso in the form of labyrinths of nar- tion to discover the heights of Valparaíso. in the port during the 19th century survives row passages, silent corners and walls painted “Neruda’s house La Visitor’s in their places of worship, such as the a thousand and one colours. That is until you guide Vertical labyrinth Lutheran church (1898) or the Anglican reach the fourth floor of the house, where a Valparaíso consists of districts on the hills Church of Saint Paul (1858) in Neo-Gothic bronze bed faces the bay. It is then that the Sebastiana is not to be missed” Where to sleep and El Plan, the coastal area, a stretch of coast style. Wandering around the hills provides spell is revealed and the response is astonish- Juan Jaña, administrative manager Sutherland House that can be covered on foot or, for example, a good opportunity to taste the local cuisine, ing. You do not have to make much of an with abertis autopistas Chile, tells (Av. Alemania on board one of the traditional Valparaíso with famous dishes like chorrillana – fried effort to imagine Neruda there, gazing out Tel. (+56) 32-3196798 us about the attractions of www.sutherlandhouse.cl). On trolleybuses. Although, of course, if there is potato, onion, egg and meat – stop off in over the Pacific, the serene lover of his cher- Valparaíso and Viña del Mar and Alegre hill, in a large house a means of transport typical of Valparaíso it the designer shops or stroll along the pedes- ished Valparaíso, “the ocean’s bride”. invites us to discover the from 1870, all the bedrooms is its lifts. With a genuine port flavour, these trian streets. On top of Alegre hill is the endearing character of their in this boutique hotel provide ancient wooden cabins were introduced in Baburizza mansion (1916), a beautiful art abertis’s presence in Chile inhabitants. magnificent views of the bay. the city between 1883 and 1912. Of the 30 nouveau building housing the Fine Arts Over the past few years, abertis has become n n n Hotel del Cerro there used to be, 15 continue to operate, Museum. The top of Concepción hill has established as the main toll road operator What mustn’t we miss on a visit to (Almirante Montt, 44 most of them concentrated in Avenida Pedro Paseo Gervasoni, a charming street with in Chile, managing more than 480 kilome- Valparaíso? tel. (+56) 32-3170826 Montt. Some of them are emblematic, such icons of the city, such as the Turri Café and tres through the concession holders Rutas Visitors really must discover the www.hoteldelcerro.cl). The best as Mariposas – the longest in the city at 177 the Mirador de Lukas House. del Pacífico, Autopista Central andelqui hills of Valparaíso, particularly thing about this 13-bedroom hotel, metres – Monjitas and Florida. Rattling on Although, if there is one lift that takes and the operator gesa.. Recently, abertis the Alegre hill and its panoramic apart from its good prices (from their rails, the lifts cover the steep residential visitors to a magical place it is Espíritu Santo, has also reached an agreement with OHL walks, allowing tourists to 25,000 to 25,000 Chilean pesos), hills so you can discover their architectural linking to Bellavista hill, with treasures like the to acquire this company’s concession assets enjoy views across the bay. is its excellent location: Calle and cultural legacy. In passing, they provide Open Air Museum, about twenty murals cre- in Chile. After the completion of the opera- You are recommended to use the their city, a place which has a unique Almirante Montt is the natural magnificent views of the ocean. ated by 18 Chilean artists which, scattered tion, the Group has taken control of 3 toll old lifts to get up to these viewpoints, attraction in the form of its buildings. entry point to the Concepción and This is the case on the Concepción and among labyrinthine streets and passages, road concession holders in the country, with particularly Paseo Gervasoni, Its colourful houses and buildings Alegre hills, the artistic, cultural Alegre hills, two of the locations not to be accompany the steps of locals and foreigners a total of 343 kilometres. This acquisition El Artillería, and others. take the visitor back to past times. By and gastronomic heart of the city. missed on a visit to Valparaíso. Their urban alike. Those who, drawn by the halo of Neruda, makes abertis the biggest toll road opera- You are advised to visit the La contrast, the people of Viña del Mar Where to eat core presents the initial route and an aris- end up in La Sebastiana, a four-storey house tor in Chile, where it has more than 770 Sebastiana Museum, the house look towards modernity and the Cinzano Café tocratic taste that hits the facades of the which was Neruda’s refuge in Valparaíso. kilometres of concessions. n of the poet Pablo Neruda, now avant-garde, with a renovated city (Plaza Aníbal Pinto, 1182 converted into a popular museum. that takes special care of the open Tel. (+56) 32 213043 In cuisine, the highlights include the spaces that provide it with its main www.barcinzano.cl). Cradle of traditional chorrillana, consisting of a charm as a garden city. Bohemian life in Valparaíso, this classic café opened its doors in generous dish mixing the flavours of n n n 1896. Today it continues to be fried potatoes, onion, fried egg and What do you think is the best one of the best places to savour a meat. Among the best-known places time of year to visit both cities? Chilean-style, meat-based snack, for trying a good chorrillana are All year round. However, I would seasoned with live music and the J. Cruz and the Cinzano. suggest the months between tangos, boleros and cuecas. The fireworks every 31 December December and February. J. Cruz when the clock strikes midnight n n n (Condell, 1466 attract particular interest, as an What features of these cities and Tel. (+56) 32- 211225 extraordinary variety of pyrotechnics their inhabitants would you www.jcruz.cl). A real symbol of is deployed around the bay, highlight? Valparaíso where you can taste the captivating spectators and visitors, They are very comfortable places to city’s most authentic chorrillanas. as they embrace one another, wishing live, with a very regular climate and 1 2 Menzel Restaurant each other a happy new year. average temperatures of between (Las Heras, 563 n n n 18 and 20º, allowing the inhabitants Tel. (+56) 32- 2114091). How would you define the of both cities to enjoy the good For lovers of the legend, inhabitants of Valparaíso or things about them all year round. at the tables of this restaurant Viña del Mar? The inhabitants are very friendly. the food-lover Pablo Neruda The inhabitants of both cities are They guarantee their cities to visitors, enjoyed one of his favourite particularly calm people, who love who arrive in large numbers during dishes, conger eel stew, always the sea, nature and fresh air. The January and February, largely people accompanied by good wine. people of Valparaíso undoubtedly from Santiago and Argentinians from have a strong feeling of belonging to Mendoza. n To find out more www.ciudaddevalparaiso.cl
— 1 — Night falls on the coast of Valparaíso. — 2 — The pontoon, a characteristic element of the coast. — 3 — Viña del Mar beach in high summer. 3 4 — 4 — Aerial view of Viña del Mar.
32 n link abertis n January 2013 January 2013 n link abertis n 33 The 83 kilometres of the PR-22, popularly known as the Expreso de Diego, report connect the cities of San Juan and Hatillo. Anniversary of the consortium metropistas, the first year The CEO, Francisco Reynés, makes an institutional visit to Puerto Rico, where he inaugurated a new abertis chair
Tex t and photos abertis
metropistas, the consortium formed tional representatives, such as the governor by abertis and Goldman Sachs Infra- elect, Alejandro García Padilla, then candi- THE CONSORTIUM, WITH structure Partners II, has completed a year date for the Popular Democratic Party (PPD), running the PR-5 and PR-22 in Puerto Rico. and the government secretary, Miguel THE PARTICIPATION OF In June 2011, the Government of Puerto Romero, with whom he spoke of the pos- ABERTIS AND GOLDMAN Rico selected the consortium as preferred sibility of future public-private cooperation SACHS, HAS COMPLETED A Commitment to the American continent The consortium paid out a concession fee abertis’ presence in the region for some bidder in the tender process for the manage- plans in the country. In addition, the CEO YEAR MANAGING THE PR-5 abertis (with a 45% holding in the consor- of 1,136 million dollars (830 million euros). years and its commitment to the community ment of both roads, although the process took advantage of his stay on the America tium) and the Goldman Sachs Infrastructure This operation contributed to consolidating and to service quality have contributed towards was completed in September that year when continent to travel to the city of New York, AND PR-22 TOLL ROADS IN Partners II investment fund (with 55%) the presence ofabertis as a toll road oper- positioning the group as a preferred ally for the metropistas took on management. where he met the Spanish consul general in PUERTO RICO financed the operation to set upmetropistas ator in Puerto Rico, where it has already development of the Public-Private Alliances To mark this anniversary, in October the United States, Juan Ramón Martínez in a proportion of approximately 40% capi- been managing the Teodoro Moscoso Bridge, programme being developed by the Govern- the CEO of abertis, Francisco Reynés, made Salazar, with whom he analysed public- tal contribution from the partners, while the connecting the municipalities of San Juan ment of Puerto Rico and for the future develop- an institutional visit to Puerto Rico, during private cooperation opportunities in the remaining 60% was financed with long-term and Carolina, since 1995 via Autopistas de ment of future public-private cooperation which he had the chance to meet institu- United States. debt with a group of 12 financial institutions. Puerto Rico (apr). projects in the rest of the United States.
S an Juan A recibo Golden Barceloneta Vega Baja Cataño Manatí Vega Alta
Bayamón Guaynabo
PR-22 toll road PR-5 toll road
Puente Teodoro Moscoso airport
34 n link abertis n JANUARY 2013 JANUARY 2013 n link abertis n 35 P ublic-Private Alliance Forum ing our responsibility as managers of the Francisco Reynés made use of his visit to projects entrusted to us. This also allows us to P RuERTO iCO has continue blazing our trail in the United States Puerto Rico to take part in the APP Infra- become a key platform structures Forum, the first of its kind organ- market from Puerto Rico,” declared the CEO. ised by abertis and TFI News, a publication Also present at this meeting was John for abertis’ future specialising in the sector. The meeting, Mica, United States congressman and chair- development in which took place on 9 October in San Juan, man of the Transport and Infrastructure the United States brought together a group of infrastructure Committee of the House of Representatives, managers, financial experts and represent- who referred to the future of federal legisla- atives of the federal administration of the tion to encourage public-private cooperation United States. The participants focused the in the United States transport sector. Mean- debate on the potential for public-private while, Gonzalo Alcalde, CEO of metropistas, cooperation following the experience of presented the consortium’s experience as Puerto Rico, which has been a pioneer in concession holder in a public-private coop- developing this type of partnership on the eration project in the field of high-capacity American continent. roads, such as the PR-22 and PR-5 toll roads. As Francisco Reynés told the forum, The forum was also attended by Luis “Puerto Rico has become a key platform Fortuño, former governor of Puerto Rico; for abertis’ development in the United David Díaz, managing director of Autopistas States. The regulatory framework developed América for abertis; ; Jordi Graells, manag- here has laid down guidelines at world ing director of abertis USA; Jim Riley, dep- level, which has made companies like ours uty director of the Innovation Section of look at Puerto Rico as a leader in infrastruc- the Transport Department of Ohio; Jim Reed, ture management through the mechanism group environment, energy and transport of alliances between the public and private director of the National Council of State sectors.” Legislatures; and David Álvarez, director of “This forum reaffirmsabertis’ commit- the Puerto Rican Public-Private Alliance ment to Puerto Rico, beyond, of course, meet- Authority, among others. n New abertis chair in Puerto Rico D uring his visit, Francisco Reynés transport infrastructures throughout experts and researchers to signed an agreement with the their life cycle, considering not just also improve the applicability abertis looks to University of Puerto Rico (UPR) to Puerto Rico as the design of the most efficient of the results obtained. leader in establish the abertis chair on the operating models but also their The agreement will give rise to infrastructure island, specialising in Transport impact on territories from an the creation of the abertis Award management Infrastructure Management. through the economic, social, environmental and in Puerto Rico, which will recognise mechanism of cultural point of view,” said Reynés research work by university alliances between The abertis chair in Puerto Rico is at the signing of the agreement. students on the island devoting the public and private sectors. aimed at students, researchers, “That is why we promote education, themselves to the field of lecturers and professionals from research and knowledge transfer infrastructure, with a cash prize. This the sector and follows the model between universities and business is added to the events that the abertis developed by abertis in other via these chairs, whose work opens chair already promotes in Spain and countries in order to promote the way for functional infrastructures France, and, in 2013, there will also education, research and knowledge for a globalised world.” be the abertis International Award. transfer in this field. The abertis chair in Puerto Rico will abertis has long experience of Together with Francisco Reynés, the encourage cooperation between the cooperating with universities and director of the abertis foundation, university and business to detect centres of excellence in the countries Sergi Loughney, and the president opportunities for collaboration, where it carries out its activities, of the UPR, Miguel Muñoz, took part making it possible to align real promoting research and development, in the signing of the agreement. infrastructure needs with the either directly or through the Since 2003, abertis and its knowledge and the disciplines companies and organisations making foundation have driven the developed in the university sphere. up the Group. Since 1999, the abertis establishment of different chairs, in The agreement also promotes foundation has been devoted to cooperation with well-known exchange and relations between the promoting and spreading the study of universities and academic UPR and other chairs and with other the effect of large infrastructures on institutions in the countries where centres of excellence, strengthening territories, especially in economics, the group has a strategic presence. the internationalisation of activities demographics and the environment, “We are interested in gaining an and facilitating the advance of always in cooperation with in-depth knowledge of the overall, knowledge, stimulating and universities and academic integrated management of enlivening exchange between institutions. n
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Francisco Reynés, Infrastructure Finance Summit 2012 CEO of abertis, represented the company at the Infrastructure Finance Summit New challenges for 2012 (EIFS). European infrastructures abertis took part in the forum organised by Infranews, which, this time, revolved around the challenges the European infrastructures market must face in the current economic context
Text and photos abertis
abertis was one of the leading com- dialogue between infrastructure companies, panies at the InfraNews European investors, financial experts and government AS A LEADING COMPANY IN Infrastructure Finance Summit 2012 (EIFS), bodies from the European continent. ITS SECTOR, ABERTIS an event with 10 years of history which, abertis was present at the summit in the every year, has become consolidated as an form of Francisco Reynés, who took part as SEEKS TO BE INCREASINGLY outstanding place for meeting, analysis and special guest on the second day of the con- EFFICIENT AND GLOBAL ference on 4 October. AND, AT THE SAME TIME, In his presentation, Francisco Reynés MORE FOCUSED highlighted the company’s development from 2000 to the present day, when it is consolidated as a leading world group in the toll roads sector which, after completing the operation to purchase OHL Brazil, is present in 14 countries, having multiplied its number of workers by 9 and its annual income by 12. company’s accounts, international business Answering the question at the centre would make up two-thirds of the total. How- of the conference: “How is the European ever, he also stressed that the current situ- infrastructures market facing the new chal- ation of restricted resources in markets lenges arising in a period of unprecedented forced abertis to grow with strict criteria: turbulence?”, the CEO picked out some of “We want to invest and grow, but not at any abertis and the administration of Puerto tant representatives of the European infra- the company’s main objectives of the last price. We want to preserve our financial Rico, led by the then governor Luis Fortuño Public-private structures industry. It was set up in 2002 few years: “as a leading company in the sec- strength, investing in projects generating after the concession of the PR-22 and PR-5 cooperation is the best with the aim of uniting all the agents devel- tor, abertis is seeking to be increasingly value for our shareholders”. Along these toll roads to the consortium consisting of oping and financing infrastructures on the efficient and global and, at the same time, lines, he highlighted that the operation to abertis and Goldman Sachs. management system in European continent – infrastructure com- more focused.” purchase OHL Brazil completed in Decem- The CEO of abertis expressed his desire a world with too much panies, fund managers, institutional inves- Concerning efficiency, Reynés high- ber met all requirements. for administrations to increasingly commit deficit and public debt tors, pension funds, consultants and politi- lighted the effort of the past few months Meanwhile, Francisco Reynés stressed themselves to this model and he was con- cal advisers – in one event, together with to achieve greater competitiveness in terms the important role of public-private coop- fident that new opportunities would arise government’s desire to continue investing representatives of the principal national and of the group’s costs. Control of opex and eration and the opportunities it opens up: in the infrastructures sector. “Our company’s despite the economic situation this country European administrations. capex has become a competitive advantage, “We’re convinced that public-private coop- reality is a history of growth and value is currently going through and presented the The 2012 event, held on 3 and 4 Octo- which is why today efficiency is one of the eration is the best management system in creation and we want this to continue in main figures of the Spanish government’s ber at the Wellington Hotel in Madrid, was key points in the group’s strategy. a world with too much deficit and public the coming years”, he concluded. new Infrastructures, Transport and House marked by the analysis of the current crisis debt.” According to Reynés, private investors’ Francisco Reynés presentation was pre- Plan, known more colloquially as PITVI. in the Eurozone and the great impact this Rational growth resources can help to make up for the lack ceded by the contribution of the Spanish is having on investment decision-making Concerning greater internationalisation and of resources currently suffered by adminis- Secretary of State for Infrastructures, Trans- Infrastructures summit in the infrastructures sector in general and focus, the group’s CEO indicated that, once trations. And he highlighted as an example port and Housing at the Ministry of Public Every year, the European Infrastructure specifically in various public-private coop- OHL Brazil had been consolidated in the the fluid cooperation relationship between Works, Rafael Catalá. Catalá highlighted the Finance Summit attracts around 250 impor- eration projects. n
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Telecommunications Telecommunication towers celebrate an anniversary Collserola Tower (Barcelona. ) and Torrespaña (Madrid) provide service to more than nine million citizens
Text and photos abertis telecom
Two of the most emblematic centres Collserola Tower, 20 years The most important in the abertis telecom infrastructure on the Barcelona skyline communication towers in Spain are network have recently celebrated anniver- Standing on the range of hills that share its celebrating saries: Collserola Tower in Barcelona and name, Collserola Tower was opened in 1992 an anniversary Torrespaña in Madrid. for the holding of the Barcelona Olympic this year. Games and, since then, it has been a vital telecommunications site in Catalonia and an icon forming part of the skyline of the city by Barcelona. That year, for the Games, more than 31,000 hours of television were offered from this centre to broadcasters throughout the world. Designed by the British architect Nor- man Foster and standing 288 metres in height, the tower unifies the services previ- ously offered by various centres located on the Collserola hills. Along these lines, from the Collserola Tower Broadcasting Centre, the signal for 53 different television channels is transmitted for 4 million inhabitants of the city of Barcelona and its metropolitan area. COLLSEROLA TOWER the city of Madrid, its metropolitan area and plexes with a total of 12 channels. The alarms Meanwhile, Collserola Tower is also the BROADCASTS THE SIGNAL neighbouring provinces, at the same time as TORRESPAÑA is taking at the low-power TDT broadcasting centres location of one of the abertis telecom resolving coverage problems caused by other part in the (covering fewer than 5,000 people) of the Control Centres, where the broadcasts and FOR 53 TELEVISION broadcasting centres. autonomous communities of Andalusia, Extre- operation of 2,348 centres in 8 autonomous CHANNELS FOR Torrespaña currently offers service to implementation of madura and Castile-La Mancha are also communities are monitored. It has capacity 4 MILLION PEOPLE the main public and private Spanish broad- connected television, monitored (more than 1,000 centres). The to control the whole Spanish network if casters, transmitting their signals to the city an environment facility is currently playing an important role necessary. of Madrid and its metropolitan area, achiev- bringing together in the implementation of Connected Television This site offers the broadcast of the main Torrespaña, true heart ing coverage for more than five million inhab- in Spain, a model in which the audiovisual programmes broadcast in Catalonia, as well of the network, celebrates itants. Its staff consists of more than 20 the Internet and sector’s content and the Internet converge in as signal exchanges with the Torrespaña tel- its 30th anniversary professionals, looking after the service 24 audiovisual content a multi-device environment. n ecommunications centre in Madrid and the Officially opened on 7 June 1982, the main hours a day, 365 days a year. Arganda del Rey satellite centre, in order to aims considered when it was switched on From Torrespaña, the signal from nine carry out various services. Occasional links were, firstly, to meet the need raised by the national and regional TDT multiplexes is broad- Link are also made to ensure the audiovisual cov- news coverage of the Football World Cup in cast – a total of 43 channels – and 15 analogue Collserola Tower www. erage of various events and sports broadcasts. Spain and to offer an audiovisual signal to radio programmes, plus 3 digital radio multi- torredecollserola.com
40 n link abertis n JANUARY 2013 JANUARY 2013 n link abertis n 41 Smart City Plaza, a small Smart Zone report at the trade fair complex abertis telecom took part in Smart City Plaza, a space the trade fair Infrastructures organisers set up in a similar way to a Smart Zone. In this environment, the operator installed sensors for receiving data relating to parking, mobility and risk; the A commitment telecommunication networks for transmitting this data – which also made it possible to interact with visitors thanks to the deployment to the city of a Wi-Fi mesh – and the solutions allowing the optimum monitoring of the future and management of this data. abertis telecom, abertis’ telecommunications infrastructure operator, presented its Smart Network, a knowledge network for the intelligent city, at the Smart City Expo World Congress 2012 Text abertis | photos Josep Loaso
abertis telecom presented its tech- The new SmartN etwork nological solutions for the develop- At this event, abertis’ telecommunications ment of the smart city as part of the Smart operator presented its Smart Network, an City World Congress, an event bringing integrated network consisting of its three together 300 international representatives technical installations in Barcelona, Madrid Barcelona and which it opened a year ago, forces and become a leader in the develop- involved in the development of the city of and Valencia and designed based on spe- coinciding with the first Smart Cities Con- ment of advanced Smart Cities solutions. the future at the Barcelona Trade Fair Centre. cialisation in the different areas of action gress. It is a small-scale reproduction of a city in order to optimise resources and minimise The Congress, the second of its kind to be presented in an intelligent city. The Smart where data is collected using sensors and Smart Zone, assessment of the first response time. held, focused on innovations used to save Network, allowing urban managers and com- cameras so the services and applications year The Smart Zone has been a differential resources, as well as responding to the chal- panies to test, evaluate and implement dif- associated with the data can be managed. During the first year, more than 72 compa- element for developing and demonstrating lenge of a sustainable future. “Technological ferent solutions and applications designed The Smart Network also has a control room nies and public bodies have taken part in the various R+D+i projects involved in Smart advances are not a cost, they are an invest- for the city of the future, is formed, in the at the operator’s headquarters in Torrent Smart Zone run by abertis’ telecommuni- Cities, providing a real urban environment, Theabertis telecom ment saving costs in the long term,” explained first place, by a Smart Zone which the oper- stand at the Smart (Valencia), specialising in security and emer- cations division around its corporate head- with smart infrastructures ready to host the its marketing director Alex Mestre. ator has installed around its headquarters in City World Congress. gency services and applications. quarters in Barcelona. 49% of these visits most innovative projects. were made during the SmartCityExpo 2011 Smart Zone locations and Mobile World Congress events. The Bar- Abertis Smart Partner Program As well as the Smart Zone at abertis’ head- celona Smart Zone and Torrent Management As part of its activities in the smart city sec- quarters in Barcelona, the Smart Zone spe- Room (Valencia) have received 152 visitors tor, abertis is working on developing the cialising in video and city applications, will be since they were set up. Configured like an abertis Smart Partner Program environment, located at abertis telecom’s headquarters intelligent micro-city, the Smart Zone is the aimed at the companies interested in work- in Tres Cantos (Madrid). The equipment for space where manufacturers, developers and ing together in developing the city of the developing advanced applications in video suppliers can test their solutions and inter- future. As part of this cooperation initiative, processing, data management and the imple- act with the other participants. the operator has set up the http://aspp. mentation of solutions facilitating and improv- It is equipped with a network of more smartabertis.com website, aimed at the ing contact between citizens and the services than 70 sensors, 4 cameras, Bluetooth, a companies interested in working together in provided by the administration (parking, traf- remote controlled lighting and watering developing the city of the future. fic, information, security) is in this area. system, as well as water, electricity and gas A total of 21 companies (developers of The Smart Zone’s different locations meters. The data provided by the sensors applications, consultancies, manufacturers allow the operator to have a complete test are carried on different technology and utilities)have joined the abertis Smart bench on which it can try out different solu- networks (WiFi, TETRA, WIMAX) to the Partner Program to date. Its aim is to imple- tions based on the construction of the city abertis telecom Control Room for proper ment an environment of creativity and inno- of the future. It is a knowledge network sys- processing. In the Control Room, a full view vation in the Smart environment, with the tem open to cooperation with other Living of the information is obtained in real time, participation of different agents from the Labs or similar initiatives in order to join allowing the analysis of the relevant actions SmartCity ecosystem. n
42 n link abertis n January 2013 January 2013 n link abertis n 43 abertis to nine. About the Hispasat group The Hispasat group, in which abertis has a Hispasat builds 40% holding, consists of companies with a news presence both in Spain and in Latin America, where the Brazilian company Hispamar oper- two new satellites ates the fleet of Amazonas satellites. The Amazonas 4A and Hispasat AG1 will allow Hispasat Group is the leading satellite telecommuni- to increase its satellite capacity throughout the world. cations operator in the broadcasting and distribution of content in Spanish and Por- They will bring the total Hispasat launches carried tuguese, including broadcasting the impor- out by Arianespace for tant digital platforms Televisión Directa al Hogar (DTH) and Televisión de Alta Definición Text Hispasat | photos Courtesy of Orbital Sciences Corporation (TVAD). Hispasat is one of the first companies in the world by income in its sector and the In Paris last September, Carlos Espinós, And in the early months of 2013 Ari- main communications bridge between chief executive of the Hispasat Group, anespace will launch another Hispasat group Europe and America. n and Jean-Yves Le Gall, chairman and chief satellite, Amazonas 3. executive of Arianespace, announced the launch of the Amazonas 4A and Hispasat The AG1, a new advance AG1 satellites at an event attended by the on the road to innovation director general of the European Space Hispasat’s ninth satellite launched by Ariane- Agency (ESA), Jean-Jacques Dordain, and the space is the Hispasat AG1, the first mission agency’s director of Telecommunications and of the Small GEO platform developed by Integrated Applications. For the Spanish OHB Systems (Germany) with the European operator, putting these two satellites into Space Agency or Hispasat. It incorporates the orbit means a new step forward in its growth innovative REDSAT regenerative useful load, and expansion strategy. which will enable Hispasat to use the satel- Hispasat’s tenth Amazonas 4A will be launched into lite’s power more easily and efficiently, sub- satellite in 2013 space from the European Space Centre in stantially increasing its transmission capac- French Guiana at Kourou by an Ariane 5 ECA ity and reducing the cost of communications. Amazonas 3, whose launch is or Soyuz rocket at the beginning of 2014. The Hispasat AG1, which will be launched at scheduled for French Guiana in early 2013, is on the final lap of its Constructed based on a GEOStar 2.4 platform the end of 2014 by an Ariane 5, will have an construction process in Palo Alto, from the Orbital Sciences Corporation, the estimated launch mass of 3.2 tonnes. California. More than two years since Hispasat group’s new satellite will be placed the beginning of the programme, the in the 61º West orbit position. It will have 24 Alliance between new satellite, the third one placed in transponders on the Ku band and an esti- Arianespace and Hispasat orbit by Hispasat, has now completed mated launch mass of three tonnes. During Since the launch of Hispasat 1A in 1992, its main integration phase and most its more than 15 years of useful life, Amazo- Arianespace and Hispasat have maintained of the operational tests. The satellite nas 4A will provide the group with additional a firm relationship of mutual trust. Being will offer coverage for the whole of the space capacity in Latin America to offer its chosen by a leading European operator to American continent, Europe and North customers a wide variety of television and launch its next two satellites is an important Africa for its more than 15 years of communication services. demonstration of trust in Arianespace, as well useful life. In addition, Amazonas 3 positions the Hispasat Group Thanks to the launch of Amazonas 4A, as clear recognition of the quality and excel- as the first operator inL atin America millions of South Americans will have access lence of Hispasat’s launch services. that can offer interactive services to high-quality audiovisual and telecom- Arianespace is the leading provider of and multimedia applications. In this munications services. The new satellite launch services and solutions in the world way, as well as providing continuity will answer the market demand and par- and has offered its clients a very innovative to the services currently provided by ticularly the distribution of content related range since 1980. the Hispasat group, it will contribute to sports events such as the World Cup 2014 Backed by 21 shareholders and by the to providing universal Internet access and the Olympic Games 2016, which will European Space Agency, Arianespace is sup- in the region. This represents be held in Brazil. ported by an international team. To 15 June considerable progress in reducing Amazonas 4A will be the company’s 2012, Arianespace had carried out 206 the digital gap in Latin America. It will eighth satellite placed into orbit by Ariane- launched of the Ariane rocket (301 useful also provide other satellite services, such as television broadcasting space. The Hispasat 1A and 1B satellites were loads), 26 Soyuz launches (2 from the French platforms, the roll-out of corporate launched in 1992 and 1993 respectively. In Guiana Space Station and 24 from Baikonur The Amazonas fixed and mobile telephone networks, 2005 and 2006, via Hisdesat, it used Ariane- with Starsem) and the first launch with a 4A satellite, like distance learning and distance space once more to launch the XTAR-Eur and Vega vehicle. the one in the medicine, broadband without Spainsat satellites into space. The Amazonas The company is planning 22 Ariane 5 picture, is based geographical limitations, and on the GEOStar-2 2 and Hispasat 1E satellites were placed in launches, 15 Soyuz and 2 Vega, representing platform. integrated communication solutions orbit in 2009 and 2010. more than 3 years’ activity. for telecommunications operators.
44 n link abertis n JANUARY 2013 JANUARY 2013 n link abertis n 45 The Eco-pôle, sanef’s future
news green building, up and running The building, at the junction of the A4 and the A26 toll roads, meets the environmental requirements and will house the management teams from the French toll road network
Text and photos abertis
Since last April, sanef has been build- sanef’s Eco-conception philosophy, which ing the so-called Eco-pôle, a eco- also includes the building of rest area pro- logically responsible building. In other words, totypes that use optimal environmental a building made with materials that are techniques and practices and the progressive environment friendly, efficient in energy deployment of these measures in all areas consumption and which uses renewable for customers. The construction of the build- TOLL ROADS energies. This sense, particularly noteworthy ing, which will cost a total of 47 million euros, is its large roof fitted out with photovoltaic was awarded to the architectural partnership panels. The building is in a nine-hectare park Crzeszczak-Rigaud Architectes and the Pay- sanef acquires the leading at the junction of the A4 and A26 toll roads sage & Lumière studio. When it is opened, in Reims. From March 2013, the Eco-pôle will the new building will house the company’s toll systems company in Europe be the general headquarters for the manage- management teams, the maintenance serv- The new subsidiary, sanef its technologies, now has four ment teams of the countries in the eastern ices and sanef’s, toll supervision centre, and network and for the maintenance and super- it will be one of the first positive energy Above, two simulations of the future building. Below, a photograph of the start activities: traditional tolls, free-flow and emergency toll vision of the tolls. The building is part of buildings (BEPOS) in France. n networks and back-office solutions of works on this emblematic construction.
Text and photos abertis
In October, the CS ITS company, a firm sanef and the abertis group as a involved in tolls for the past 40 years, whole is improving sanef’s competence was acquired by sanef, abertis’ subsidiary in toll systems and making it the only in France, to become sanef its technologies. French group with triple experience in this The company employs 220 people in 7 coun- type of infrastructure – collection systems, tries throughout the world (France, the United concessions and toll operation. Meanwhile, Kingdom, Croatia, the United States, Canada, sanef its technologies becomes the only Puerto Rico and Chile). Integrating toll sys- agent capable of controlling all the tolls in tems and solutions, sanef its technologies its strategic areas. sanef its technologies now has the most complete range on the has all the potential necessary to respond market and controls four activities: traditional to current projects, such has payment-for- tolls, free-flow and emergency toll networks use by heavy vehicles, tolls in urban areas and back-office solutions. or fast roads, whatever the size of these CS ITS and the sanef group have been projects. cooperating for many years in developing “This alliance gives a new boost to our toll systems. Both have contributed to the business which has been able to create a success of big innovative projects, like the unique product range through projects and Dublin orbital motorway (M50) and the R+D investments. In addition, the good Golden Ears Bridge scheme. They also con- reputation of sanef and abertis in terms tinue to work together in developing and of concessions and operation positions us implementing the largest free-flow toll sys- as a new leader in a rapidly growing market,” tem in the world, which will be opened in points out Arnaud Quémard, chief executive December 2012: Portman Bridge in Vancou- of sanef its technologies. For François Gau- ver. This unique synergy between a conces- they, general manager of the sanef group, sion-holder and an integrator makes it pos- “the acquisition of sanef its technologies sible to offer the market systems incorporat- is a key element in the Group’s strategic ing the operator’s needs. It also allows the development, both in France and at interna- latter to control an important link in the value tional level. It positions the sanef group as chain and, therefore, optimise operating costs a principal agent in the big toll projects in the in order to be more competitive. world”. n
46 n link abertis n January 2013 January 2013 n link abertis n 47 MOBILITY
The Cadí tunnel connects the central More than 10,000 users sign news area of Catalonia with the Pyrenees. up for carpooling Car sharing, also called carpooling, is an increasingly common system among drivers who want to share their vehicles with other users travelling on the same route
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Aware of the need for initiatives pro- most requested, although the scheme is moting the efficient use of resources also used inside cities. This is the case in the In Catalonia, and the environment, abertis autopistas Madrid region, since the beginning of the 525 users set up the carpooling service a year and a service 251 users have shared 115 routes half ago. The autopistas.com website offers (every user shared a car twice). In the case used the service, Internet users a free, easy way of contacting of Catalonia, 525 users used the service, sharing other drivers to share car journeys. It is a sharing 330 routes. 330 routes system putting drivers with empty places in their vehicles in contact with those inter- Usage trends ested in travelling the same route but with- The current economic situation has led to out means of transport, or who do have an increasing trend to use the carpooling transport but prefer to optimise resources. service. In general, the routes shared Once users register at autopistas.com, they throughout the year are constant, although can either offer a route with one or more a peak of requests is observed during certain places in their vehicles or share an existing months of the year. Most routes are long route they are interested in. ones coinciding with holiday periods. In January 2012, for example, 577 routes were Madrid and Barcelona, the shared, 35% more than the average for the cities where the service is most other months, partly due to the post-Christ- BTG Pactual and abertis requested mas period. As for client profiles, 30% of Since it was established, almost 10,000 users users sharing cars are women and 70% are have benefited from thecarpooling system. men. The average age is 39. n are to manage the Vallvidrera The most requested routes are Barcelona- Madrid / Madrid-Barcelona (27%), Valencia- and Cadí tunnels Madrid / Madrid-Valencia (23%), Málaga- The consortium formed by BTG Pactual and abertis agree the tunnel Madrid (15%), Málaga-Valencia (15%) and concession with the Government of Catalonia for a period of 25 years Madrid-Ávila (2%). The long routes are the
Text and photos abertis Development of carpooling in Spain during 2012 The consortium formed by the Brazil- Concession charge of 430 million CARPOOLING REGISTRATIONS ian investment bank BTG Pactual and BTG Pactual and abertis will accept a conces- 700 abertis has come to an agreement with the sion charge of 430 million euros through a Government of Catalonia over the manage- new company, in which they will own 65% 577 600 ment concession of the Vallvidrera and Cadí and 35% holdings respectively. An initial dis- 495 tunnels for a period of 25 years. abertis, bursement of 310 million euros is planned, 476 500 451 which holds a minority position in the con- financed 70% with debt and 30% with own 425 sortium, will act as industrial partner for resources. This involves an initial investment 427 483 400
which it has signed a management contract for abertis of 37 million euros. The sharehold- no. 381 for both infrastructures for a concession ers will pay the remaining charge at the end 327 period of 25 years. of the concession. The operation meets the 300 The two assets represent the main con- strict return and value creation criteria estab- 297 nection points between the central area of lished by abertis for this kind of project. Mean- 200 Catalonia and the Pyrenees (Cadí Tunnel) while, the operation does not put abertis’ and between Barcelona and the main inland current credit rating at risk.. AZ Capital has 100
cities (Vallvidrera Tunnel). The 2 concessions acted as financial adviser to BTG Pactual, and months 2012 together add up to 41 kilometres, including BBVA Corporate Finance has acted as financial 0 10 kilometres of tunnels. adviser to abertis in the operation. n January February March april May June July august september october
48 n link abertis n January 2013 January 2013 n link abertis n 49 50 n link news abertis abertis n
JANUARY 2013 Volunteering Day holdsits4th abertis round table moderated by round moderated table of the director a at help, need might they that believed never recently very until who families experiencing, particularly large numbers of the situation of many people are currently Joana Martín, explained the harsh reality of the Barcelona Diocesan branch of Cáritas, Marquès; and the head of Social Action at chairman of the Catalonia Red Cross, Josep the Foundation, Sansalvadó; Bank Antoni Cross and the diocesan branch of Cáritas. Red the Foundation, Bank Food the care: social in integrated organisations leading three of participation the including lona, the at was event held 2009. The institutional since developing been has company the Volunteering programme grow aid motto the year,exclusion. This under social and this year focusing on the increase in poverty different aid and awareness-raising activities, and social exclusion on its 4th Volunteering Day Abertis xt xt T Abertis Foun Abertis e abertis group’s headquarters in Barce- The chairman of the Barcelona Food Barcelona the of The chairman
abertis | Corporate Volunteering Day, hosting In December, Now more than ever, let’s make our it formed part of the Corporate Corporate the of part formed it employees turn out against poverty otos otos p h d a t abertis
Josep Loaso ion ion Voluntaris held its fourth , which stressed that “volunteering at foundation abertis also took part. Welfare and the Family, Josep Lluís Cleries,Social of Minister Acting Government’s Catalan The important”. very is business eralised crisis, the response of society and slogan because “in an atmosphere of gen- the idea put across by the Volunteering strengthens Dayand soul” company’s of part the mobility of disabled and/or amputee Haitian dation in Barcelona; improvements to the promoted by the Concepció Juvanteny abuse and sexual of ill-treatment victims Foun- a therapeutic project for children and young 6,000 euros to each of the winning gave projects: foundation the So, intranet. porate among the Group’s employees on the cor- a vote after selected were which tiatives total of 24,000 euros to four solidarity ini- foundation of abertis Day, the Volunteering part As Donations to solidarity projects abertis foundation The president of of president The announced the donation of a , Salvador Alemany, , Salvador abertis , Sergi Loughney. abertis and the the and forms Volunteering Day. during histalk on S abertis foundation, abertis and the The president of al vador Alemany, teenagers, to be given to the residents of residents to be given teenagers, to the for presents with together collected. also headquarters, new or nearly new toys were the Group’s centres in Spain. of 20 At than more at promoted were itstions Barcelona between 10 and 20 December food collec- Given the current growing demand for food, Activity in different countries internally chosen by vote. solidarity projects of various kinds that are to month every gives them of each euro gratitude to all group’s 4th Volunteeringthe in Day, showingpart her took also Eyle, van donations at companies through wages), Jil The creator of the of the ‘teaming’ concept Visit by Jil van supervisors. their and people handicapped mentally home given by Barcelona City Council for conversion by the Aspasim Foundation of a Barcelona; filippo andand the adaptation drome and gene therapy as a cure at San- tion; help for research into Sanfilippo syn- the Nuestros Pequeños Hermanos Founda- tion centre in Port-au-Prince (Haiti), led by children at the Kay St. Germain rehabilita- abertis employees for the E teaming y le, creator concept (micro- abertis year. the throughout ised organ- are activities solidarity various together teering slogan, the Under time. spare their in activities volunteering out context for carrying a with employees abertis which under workers group of the company’s an initiative promoted by a is Programme, Volunteering Voluntaris Programme Corporate Volunteering tions. marking the day by in, promoting foodjoined collec-also Kingdom United the and bases in Argentina, Chile, France, Puertodren’s Rico homes. At international level, the Concepció Juvanteny Foundation’s chil- n provides its its provides , Volun- abertis’ , Corporate Corporate abertis’ J a nuary 2 award. organisations up the 6,000-euro loyees of the abertis group pick E 0 mp 13 n link abertis abertis n 51 52 n link news abertis abertis n
JANUARY 2013 of safe mobility to raise young people’s awareness promotesabertis aprogramme Catalan Traffic Service Government of Catalonia, the Guttmann Institute and the In cooperation with the Department of Education of the School, the Les Corts Secondary School, the Secondary School, the Joan Boscà SecondaryThe centres taking part are the Ausiàs canMarch be extended to other geographical areas. Viladecans. and Barcelona in schools 11 of pupils to his experience and give recommendations accident he had when he was 18, will and paraplegic as a result of explain a motorcycle Vilaseca, a volunteer of the Institut the Guttman You have one life left of mobility. This action formed part of the and 18 who are beginning to take advantagedriving for young people aged between 14 awareness of the importance of responsible sented the Auriga Project, intended to raise Institute and the Catalan Traffic Service Guttmann the of Catalonia, Government pre- Abertis Found Abertis abertis foundation abertis This is a pilot project which it is hoped the Department of Education of the In October, the a t project developed by ion ion abertis foundation, . To this, do Jordi tis Service; Salvador Alemany, presidentJoan Aregio, director of the ofCatalan Traffic Education of the Government of Catalonia; of Department at the Education laureate eral of Compulsory Secondary and Bacca- was attended by Teresa Pijoan, director gen- receiving an eBook as a prize. pupils its each with chosen, be will class from the organisations involved. A winning subsequently be submitted to a jury formed a of will work piece produce group which Each class taking part in this initiative will Busquets Secondary School in Viladecans. Secondary School and the Josep Mestres i the De Sales Secondary School, thethe Solc and TorreThau schools inRoja Barcelona and Nonat, Sant Ramon Nonat-Sagrat Cor and Sants-Les Corts Marists School, Sant Ramon Programmes at the Guttmann Institute. Social/Healthcare and Social of Gil, head and the The formal presentation of the initiative abertis foundation ; and Àngel aber- abertis foundation, of the president Guttmann Programmes at the and Health Care T of the Catalan Pijoan; the director E D E B of the director general S S abertis foundation, the director of the From left to right, Àngel Gil. the head of Joan Aregio; and Catalonia, Government of d d r al ergi a ep abertisand the affic S ucation of the ucation at the ccalaureate vador Alemany; ec artment of L ondary and S o ervi ughney; T I nstitute, er S ce, oci esa al coexistence and civic virtue. reinforce key concepts such as responsibility,contact with driving makes it necessary to and 18. The fact that they are coming into important in young people aged betweensafety 14 education, considering it particularly Department of Education, is promoting roadThe Government of Catalonia, through the The sponsors: all the winners of this game. etc.). Another 10 eBooks willmirrors, be show-offraffled or competitive among behaviour, rear-view adjusted poorly having driving, while GPSs phones, programming mobile the wheel (drinking alcohol, speeding, using ness of the real dangers of bad practices at game the main causes of road accidents. fun way, helps young people find out about com microsite, which, in an educational but foundation nologies play an role.leading The young people, so the Internet and new thetech- Auriga Project, is particularly aimed at The “You have one life left” campaign of Catalonia of in Vilaseca. S at the about road safety information session Vilaseca gives an The volunteer Jordi E ec You have one life left d The ondary ucation of the Government 9 lives at stake D microsite e S al has the www.tequedaunavida. S es ch
ool partment D includes the interactive e to raise drivers’ aware- campaign, including abertis abertis the Department of Education in the promo- safety.of road terms with The works SCT in objectives general the achieve to out carried actions the with together lowed fol- be to lines strategic suggesting and revising document key the is This years. three every renewed Plan Safety Road a affic has Catalonia, of Government the of rior responsible to the Department of the Inte- The Catalan Traffic body a public Service, Catalan area of road accidents. are the preventive actions carried out in the rights of disabled people. the promote Anto work example of thisawareness-raising tute also carries social and out important in neuro-rehabilitation. The Guttmann Insti- clinical programmes developed by experts scientific and technical standards through human, high with attention personalised internationally. There, patients receive full, ing centre in its specialist area in Spain and origin. Its broad experience makes it neurological a of lead- disabilities serious other or damage brain acquired injuries, spinal with people of rehabilitation and ment ised hospital devoted to the medical treat- The Guttmann Institute is a highly special- Guttmann T r I n stitute S e rvice www.gencat.cat/ensenyament www.gencat.cat/transit www.fundacionabertis.com www.guttmann.com Links: The abertis foundation mobility. tion and development of education for safe structure management groups. international mobility and transport infra- of ity responses tion is one of the corporate thatsocial manageresponsibil- road safety policies.always Thesupporting founda- the public administrationsis seeking the right partners for each project,raising campaigns. The safety education in schools and awareness organisation of scientific symposiums, road the research, of promotion the including 2003, since out carrying been has dation extensive Road Safety Programme the foun-18. This is a new initiative formingsafety partto ofyoung the people aged road teach to need between the of aware project, 14 and abertis foundation abertis JANUARY 2013 abertis abertis foundation , one of the main n is behind this this behind is link n abertis abertis n 53 Corporate Social Responsibility responses, as it promotes research on the impact of large infrastructures on the surrounding
news regions and carries out actions in the areas of the environment, social action and the promotion of culture, as well as carrying out a wide-ranging road safety campaign. The foundation also works with the main cultural institutions, together with public adminis- trations, in order to make culture more accessible to the public. It also makes ini- tiatives to recover monuments possible. Along these lines, it has made the large Mèdol Roman quarry, dug during the period of the Roman Republic and Empire and used to construct the largest buildings in Tarraco (the modern city of Tarragona) available to the public. n
heritage Foix (Vertebrate fauna of Foix Park), by Xavier ronmental management system in order to Candidate to be Centre for Bayer, Cisco Guasch and Humbert Salvadó, minimise the impact of the abertis group’s listing 322 vertebrates, including fish, activities on the environment in the coun- Mediterranean Biosphere Reserves amphibians, reptiles, birds and mammals. tries where it operates. Along these lines, 243 of these species are birds. The abertis abertis works to reduce the carbon footprint The headquarters of the abertis foundation would be foundation also forms part of the Foix Park generated by its activity, optimising waste used to expand Unesco’s efforts to promote sustainable Consortium, taking care of a protected management and conserving the biodiver- Links: development natural area of 2,900 hectares consisting of sity of the natural areas around its infra- the River Foix reservoir and its surroundings structures. It also carries out environmental A bertis foundation headquarters: http://www.fundacioabertis.org/es/ in the municipalities of Castellet i la Gornal awareness-raising actions to extend its com- fundabertis/fa_sede.php Castellet castle, headquarters of the of ideas, projects and knowledge and serves and Santa Margarida i els Monjos. mitment to the environment, its employees, Unesco biosphere reserves: abertis foundation, has a chance of to stimulate interest in cultural and natural customers and suppliers. http://www.unesco.o rg/new/es/ housing a Unesco Centre for Mediterranean heritage, as it is a model of sustainable her- E nvironmental management natural-sciences/environment/ Biosphere Reserves. The official presentation itage management. abertis’ environmental policy is focused Corporate Social Responsibility ecological-sciences/biosphere- of the candidature took place last July in Paris, Renovated by abertis in 2001 follow- on the gradual implementation of an envi- The abertis foundation is one of abertis’ reserves/ in the presence of the assistant director gen- ing sustainable construction criteria, the eral for Natural Sciences of the United original castle building dates from 977. Its Nations Educational, Scientific and Cultural historic image has been heightened with Organisation, Gretchen Kalonji. Unesco’s the recovery of the most outstanding orig- World Biosphere Reserve Network currently inal elements, such as the 10th-Century consists of 610 centres distributed over 117 tower and the 15th-Century eastern wall. countries in the world which share knowledge, So that the castle could perform its new exchange experiences and promote good functions, it was restored divided into two practice. The abertis foundation, which is sectors, related to their respective periods supported in its candidature by the Spanish of origin: the History building and Knowledge government’s National Parks Organisation, building. Its connection with the Vía Augusta attached to the Ministry of Agriculture, Food road, shown by the archaeological dig cam- and the Environment, will find out Unesco’s paigns held in 2007, increases its heritage decision in 2013. value as a site continuously inhabited for 25 centuries. Wonderful setting Castellet castle has also become an Above: the castle Standing in a wonderful natural setting, ideal setting for observing the rich variety presiding over the landscape of Foix surrounded by the natural area of the River of animals and plants it has around it. The Park. Right: details Foix park in the county of Alt Penedès (Bar- presence of water is an essential factor for of the 10th-Century celona), Castellet castle not only houses the the development of a good diversity of birds. building abertis recovered in 2001 institutional headquarters of the abertis In 2011, the abertis foundation published to house the abertis foundation, it is also a centre for the spread the book Fauna vertebrada del Parque del foundation.
54 n link abertis n JANUARY 2013 DECEMBER 2012 n link abertis n 53 56 n link news abertis abertis n
JANUARY 2013 mathematics to forecastAward traffic for a thesis on the use of The winner is one of the finalists in the in the awards run by the abertis the by held Management, Infrastructure abertis thesis and dissertation sections of the 9th PhD the of winners the together putting macroscopic). elling: moving from the microscopic to the roscopique (Road traffic analysis and mod- routier: passage du microscopique au mac- entitled a study with Lyon) of (ENTPE-University Costeseque Guillaume to went prize the casting traffic). del tráfico (Mathematical methods for fore- predicción la para matemáticos Métodos tabria) was the winner with her PhD thesis, chairs the from studies international the best to recognise lished Research last October, taking a prize estab- International 1st the xt T 1st abertis research award research abertis 1st e
This international event arose from from arose event international This abertis foundation | to to predict traffic wasthe of winner A thesis on the use of mathematics . Dr. María Nogal (University of Can- -UPC -UPC chair and their counterparts Awards for Research on Transport Analyse et modélisation du trafic trafic du modélisation et Analyse . . In the dissertation section, abertis professorial professorial abertis abertis photos abertis
Josep Loaso Award for for Award -ParisTech CEO of of CEO in France. In the words of Francisco Reynés, chair and Technology) Science Networks and Construction of Transport, Institute College of Civil Engineering-IFFSTAR (French Cohen. the and the the event, Sebastià Olivella; the director of Calvet; the director of the college hosting Damià Catalonia, of Government the for Mobility and Planning Regional of retary CEO of the by accompanied Giró, (UPC), Antoni nical University of Catalonia-BarcelonaTech chaired by the vice-chancellor of the Tech- Technical Civil Engineering CollegeEducation andHigher was Barcelona the at held the countries where we operate.” global and we are committed to society in national level, because our management is abertis financial world compatible with society. At the idea of the of importance making the abertis The award presentation ceremony was abertis , we have this commitment at inter- abertis abertis chair abertis abertis -UPC -UPC chair, Francesc Robusté, , Francisco Reynés; the sec- , “These awards reinforce , reinforce awards “These awards for Spain and France in France, Simon Simon France, in line-up. 9th abertisaward — 2 A C University of of the vice-chancellor R abertis, Francisco from the receiving her prize María abertis The winner of the — 1 a e ntoni Giró. talonia (U ynés, and the T N echni A o gal, w CEO ard, PC cal of ), 1 y mejora de la capacidad de glorietas con con glorietas de capacidad la de mejora y publication of the research, went to with a prize of 4,000 euros plus the digital projects, work degree and articles, course master’s or degree final dissertations, lonia-BarcelonaTech (UPC), the section for Spain at the Technical University of Cata- Research Awards from the to microscopic ones in traffic analysis. studies the move from macroscopicdissertations for models award-winner national lication of the study. Meanwhile, the inter- a prize of 10,000 euros and the digital pub- chair abertis tic demand. This project also won the 9th the dynamicand modelrule forFIFO predictionthe with with stochas- consistent traffic variables; the dynamicthe reloadingBayesian modelconjugate model for estimatingmatical applications for forecasting traffic: International Award presents three mathe- As As for the winners of the 9th The thesis that won the 1st 1st the won that thesis The in Spain in the PhD thesis section, with and Research award of the abertis chair abertis abertis abertis Estudio in abertis chair The inhabitants. its of life of ity scale works on a region, improving the qual- contribute to research on the effect of University large- of Puerto Rico (UPR) which will porated a chair established jointly with the (Technical University of Valencia). (Valencia)) by MaríaSaler El Doloresat CV-401 Martín the Gasullaand CV-500 the simulation, applied to the junction between micro- traffic through flows traffic anced ment of roundabout capacity with unbal- demic demic world. Recently, aca- the to commitment company’s the ertis professorial chair professorial chair The international presence of the The en el (Valencia) Saler CV-401, la con CV-500 la de intersección ala Aplicación tráfico de microsimulación flujos de tráfico descompensados mediante The A will soon also be present in Chile. b -UPC chair of Transport Infrastructure abertis chair is increasing, showing Study and improve- : also consists of the abertis has incor- abertis abertis abertis abertis ers and professionals in this field. and are aimed at students, researchers,cerning transport lectur- infrastructure are managementfocused on education and research con- Run by Professor Simon Cohen, its activities and Technology) Chair was set up in 2011. Science port, and Networks Construction neering-IFFSTAR (French Institute of Trans- The management. infrastructure transport of promote education and research in the area Professor Francesc Robusté, is intended to Catalonia-BarcelonaTech (UPC) and run by by Transport, and the chair of the Economics of InfrastructuresDemocratic and Governance; the the Regulation, Competition and Public Policies; Science and Technology) Chair. of Networks and Transport, Construction of Civil Engineering-IFFSTAR (French Institute Management; the the Management; abertis abertis abertis The abertis and the Technical University of -ParisTech College of Civil Engi- -ESADE chair of Leadership and JANUARY 2013 -UPC chair, set up in 2003 abertis abertis -ParisTech School n abertis
-IESE chair of of chair -IESE link n abertis abertis -FEDEA n 57 2 AeriF b t s oundation abertis moves into news Dalí’s universe The abertis foundation and sanef sponsor the big Dalí retrospective opened in November at the Pompidou Centre in Paris.
Te xt and photos abertis
abertis, through the abertis foun- in this aim. In this sense, cultural sponsorship dation and sanef – the Group’s toll is one of the actions established by the roads subsidiary in France – is one of the abertis Social Responsibility Strategic Plan, main sponsors of the big Dalí retrospective in which the company sees culture as a opened to the public in November at the benefit that enriches people and improves Pompidou Centre in Paris, which will be open their quality of life. to the public until 25 March 2013. It will then move to the Queen Sofía Museum in Abertis, with the world of art Madrid, from 23 April to 2 September 2013. abertis’ link to the art world also has This exhibition is a unique opportunity for another outstanding historic landmark, with reviewing the work of Salvador Dalí, as, for the acquisition in 2007, through a gift, of the first time, it brings together works from an oil by the Malaga-born artist Pablo Ruiz the three depositories of the Dalí legacy: Picasso, Mujer con gorro y con cuello de piel the Gala-Salvador Dalí Foundation (Woman with hat and leather collar (1937), (Figueres), the Salvador Dalí Museum in now in the National Art Museum of Cata- Saint Petersburg (Florida) and the Queen lonia (MNAC). Along these lines, abertis Sofía Museum (Madrid), which join forces and the abertis foundation work perma- to offer the best of their collections. nently with the principal cultural institutions Contributing to the exceptional nature in the countries where it operates, and par- of the show are loans from other top insti- ticularly: the Prado Museum, the Gran Tea- tutions, such as MoMA (New York), the tre del Liceu (Barcelona Opera House), the Philadelphia Museum of Art, the Tate Mod- Teatro Real in Madrid, the National Art From left to right, Francisco Reynés, ern and the Royal Fine Arts Museum in Bel- Museum of (MNAC), Orfeó Català Founda- CEO of abertis; ; Carlos gium. This collaboration is another example tion-Palau de la Música, the National Thea- Bastarreche, Spanish of the commitment of abertis and the tre of Catalonia (TNC), L’Auditori and the ambassador to France; Frédéric abertis foundation to culture, working Symphony Orchestra of Barcelona and Oudéa, president and with the big cultural institutions of the coun- National Orchestra of Catalonia (OBC), the CEO of Société tries where the Group is present in order to Francisco Godia Foundation, the Barcelona Générale, and François Gauthey, make culture accessible to the general pub- Museum of Contemporary Art (MACBA) general manager of lic and support the public administrations and music festivals such as those at Peralada sanef.
58 n link abertis n JANUARY 2013 JANUARY 2013 n link abertis n 59 Castle and Cap Roig Gardens. The Group S also promotes publications linked to herit- F E age and culture, such as the Viator collection,
news which, in its latest edition, compiles an analysis of the heritage preserved near the BRI French toll roads managed by sanef, the abertis group’s concession holder in France.
The presence of abertis and the abertis foundation in France abertis is the biggest Spanish investor in France. In the last few years, the group has made cumulative investments of around 5,000 million euros in the country, extend- ing its presences in its business areas of toll roads and telecommunications infra- structures. In 2006, the company incorpo- rated the concession-holder sanef (Société des Autoroutes du Nord et de l’Est de la France), after the French government awarded the privatisation tender for this company to the consortium Holding The President of d’Infrastructures de Transport (HIT), led by sanef, Alain Minc, abertis with a 52.5% holding, and also demic world. Recently, abertis has incor- with the former ABERI T S FOUNDATION co-owned by the Caisse de Dépôts, the porated a chair established jointly with the chairman of the European Central AXA insurance group, the French invest- University of Puerto Rico (UPR) which will Bank, Jean-Claude The Prince and Princess visit Castellet ment fund Predica and the FFP company, contribute to research on the effect of large- Trichet, at the controlled by the Peugeot family. scale works on a region, improving the qual- presentation of the The tenth meeting of the Executive tion; ; Leopoldo Rodés, a member of the Dalí exhibition. sanef’s entry into the group extended ity of life of its inhabitants. The abertis chair Committee of the Prince of Girona The Prince and abertis; Board of Directors and Jaime Princess of the network of toll roads managed by will soon also be present in Chile. The aber- Foundation (FPdGi) was held on 26 Asturias and Girona Alfonsín, chief secretary to their Royal abertis by 1,757 kilometres of toll roads in tis chair: also consists of the abertis -UPC November at Castellet castle, headquar- at the event. Highnesses, were present. n operation in the north of France, Normandy chair of Transport Infrastructure Manage- ters of the abertis foundation, chaired and Aquitaine. Sanef manages four of the ment; the abertis-IESE chair of Regulation, by their Royal Highnesses Felipe de Borbón seven toll road access roads to the Île de Competition and Public Policies; the aber- and Letizia Ortiz. France (Paris region) and also carrying the tis-ESADE chair of Leadership and Demo- The patron of the FPdGi and President traffic connecting Germany, Belgium and cratic Governance; the abertis-FEDEA chair of abertis and the abertis foundation, Luxembourg with the north of France and of the Economics of Infrastructures and Salvador Alemany, and the CEO of aber- the United Kingdom. In the telecommunica- Transport, and the abertis -ParisTech School tis, Francisco Reynés were at the meeting. tion infrastructures business, abertis is a of Civil Engineering-IFFSTAR (French Insti- They presented insignia to their Royal shareholder in the satellite operator Eutelsat. tute of Transport, Construction and Net- Highnesses after the signature of the Cas- In 2011, the abertis foundation began works Science and Technology) Chair. tle’s Book of Honour. As well as the mem- its activities in France with the establish- bers of the Executive Committee, Seri ment of a professorial chair together with sanef and culture Loughney, director of the abertis founda- the Paris Tech College of Civil Engineering Sanef exemplifies its commitment to the and IFSTTAR for education and research regions where it operates with the cultural ‘METRN N O I G’ concerning infrastructures and the launch sponsorship of many regional festivals in of a training programme for young people the fields of music, film, nature or folklore. Fostering talent about driving on toll roads: Autoroute In 2013, it plans to support around ten Académie.The chaire abertis, run by Profes- events in France, including the Petite Pierre abertis is to work with the Prince of part in the project, among others are the sor Simon Cohen, is engaged in transport Jazz Festival (Alsace), the Cabourg & Nor- Girona Foundation on its new project, Corporate People Manager Joan Rafel; the infrastructure management training and mandie Impressionnisme Cinema Festival Fostering talent, in order to improve the Purchasing and General Services Manager research. Along with the chairs of the Tech- (Normandy), the Days of the Rose at Chaa- employability of young people with univer- Josep Maria Gómez Hospital; the Corporate nical University of Catalonia (Barcelona) it lis Abbey, the Saint-Riquier Festival (Picardy) sity education or who have completed Management Supervision Manager Martí forms a European network of specialised and the Touquet International Music Master higher education vocational training courses. Carbonell; and the Legal Advice Manager professorial chairs which hold the abertis (Pas de Calais). In order to publicise the It is a mentoring project, so each participant Daniel Ventín. n International Award for transport infrastruc- heritage of the different regions of France will have a sponsor who will guide them for ture management. where it is present, sanef has provided all six months in looking for a job that matches The international presence of the aber- its service areas with information panels their competences. Abertis will become tis professorial chair is increasing, showing with the places of cultural and historical involved along these lines, providing mentors the company’s commitment to the aca- interest in the area. n close to their professional interests. Taking
60 n link abertis n January 2013 JANUARY 2013 n link abertis n 61 abertis Agreement to encourage tourism
briefs The company is to carry out various information actions to promote and publicise tourism opportunities in Catalonia
The director general of Tourism and initiatives to publicise routes and short breaks will set up an exclusive section devoted to executive vice-chairperson of the around Catalonia. Catalonia on the www.autopistas.com web- Catalan Tourism Agency (ACT), Marian Muro, As a result of this cooperation, abertis site and publish a multimedia tourist guide and the managing director of abertis autopistas will carry out different informa- in Spanish, English, French and German. autopistas, Josep Lluís Giménez, signed a tion actions in its service areas and on its toll Meanwhile, the Catalan Tourism Agency will cooperation agreement in December to roads to publicise the tourism opportunities provide the most suitable content for aber- jointly encourage tourism in Catalonia. The of the Catalan destination among its users, tis autopistas’ platforms and offer it a pres- agreement, valid until 31 December 2013, either using off-line media or online com- ence in its promotional media, particularly will allow the design of different promotional munication channels.. Along these lines, it the Internet and the social networks. n
Marian Muro, Isidre Fainé, director general SHAREHOLDERS with the New of Tourism, York Chamber of and Josep Lluís Commerce award Giménez, managing Isidre Fainé: an award-winner director of abertis autopistas, after the signing of in New York the cooperation agreement.
The chairman of CaixaBank and sen- ing it the biggest retail bank in Spain”, ior vice-president of abertis, Isidre according to the Chamber of Commerce. Fainé, picked up the Business Leader of the Isidre Fainé, for his part, pointed out that Year award, presented by the Chamber of this recognition means a “new stimulus” Commerce, the main business forum to continue advancing in the firm “service between Spain and the United States, in commitment of CaixaBank to its custom- December. The prize recognises “Isidre ers and to society”. The award presentation Fainé’s sense of anticipation in creating event was attended by more than 300 rep- CaixaBank and launching it on the stock resentatives of the world of finance, busi- market, as well as contributing to structur- ness, politics, culture and charity and social ing the Spanish financial sector and mak- organisations. n
ABERTIS New proprietary directors
In December, at the suggestion of Services Kappa, SARL respectively. After TOL L ROADS its Appointments and Remuneration this remodelling, abertis’ Board of Direc- Committee, abertis’ board of directors 3 new tors maintains four vice-presidencies, Accident simulation on the AP-7 appointed by cooption Obrascon Huarte directors headed by Isidré Fainé; Obrascon Huarte Lain, SA, represented by Juan Miguel Villar appointed after Lain SA, represented by Juan Miguel Villar abertis autopistas carried out an gency Coordination Centre, the Alicante OHL takes a Mir; OHL Concesiones SAU, represented Mir; G3T SL, represented by Carmen Godia, accident simulation inside the Mas- Provincial Fire Service, SAMU, Civil Protec- share in abertis’ by Juan Villar-Mir de Fuentes, and OHL and Théâtre Directorship Services Alpha, carat tunnel on the AP-7 toll road between tion and Calpe, Benissa and Altea munici- capital. Emisiones SAU, represented by Tomás SARL, represented by Javier de Jaime. The the towns of Calpe and Altea in Alicante. pal councils. The operation will serve to García Madrid, as new proprietary directors Board has also given the green light to the More than one hundred people took part assess the current emergency procedures of the company. incorporation of OHL Concesiones on in the exercise, including company and to improve the coordination of all The new directors replace Florentino abertis’ Appointments and Remuneration workers, actors, observers and others agents involved, resulting in an improved Pérez, Pablo Vallbona and Ángel García Committee, where it will be represented attending. service and better road safety for traffic Altozano, who held their posts represent- by Juan Villar-Mir de Fuentes, and the The simulation was carried out with travelling on the toll road. The exercise ing Théâtre Directorship Services Delta, appointment of the independent director the cooperation of the Roads Area and in consisted of simulating an accident SARL, Théâtre Directorship Services Carlos Colomer Casellas as a member of coordination with the Civil Guard, the between three cars inside the tunnel and Lambda, SARL and Théâtre Directorship the Audit and Monitoring Committee. n Directorate General of Traffic, the Emer- a subsequent fire in one of them.n
62 n link abertis n JANUARY 2013 JANUARY 2013 n link abertis n 63 64 n link BRIEFS abertis abertis n
January 2013 by Vía-T, will be accepted. This cial isissuers anda remotejoint toll devices,measure such as Spain. From that date, only cards tonnesfrom finan-or above on its networka maximumof authorisedtoll mass roads(MAM) of 3.5 in issuer) as a form of payment forfessional vehicles cardswith (cards issued by a non-financial with practical and academic information information academic and practical with dation for Quality Management, is updated ment model which, at the European Foun- lence Model is an organisational manage- based on the EFQM model. The EFQMquantify the Excel-company’s level to of excellence Madrid) and (Barcelona facilities the visited Club Excellence Management the On 8, 9 and 10 October, the assessors from ment Excellence Club, with the 500+ stamp. for transport professionals Change in payment method Award for excellent management ROADS l TO COMMU TE abertis autopistas L L E
From 1 January 2013, autopistas2013, January 1 From concession granted by the Manage- telecom abertis N I C will cease to accept pro- AT I and the non-financial O N is renewing the the renewing is S abertis abertis its customers. commitment to excellence to society and formally demonstrate ments make it possible to strengthen and transport professionals. toll system offers discounts and benefits to toll road network. In addition, this remote technology and is valid on the entire system, as Spanishit is based on a more advanced which is now the securest toll road paymentto forge. These cards will becommitted replaced withby thisVía-T, type ofamong cardothers), which aimedis ateasy combatingissuers (Repsol, Cepsa,the Servisa, DKV,fraud Ressa, clear customer orientation. its and established basis the of approach a young company), the solidity and suitable rity of its business culture (despite it being towards excellence, highlighting the matu- for enthusiasm Europe. The team of assessors showed their provided by organisations inside and outside n abertis n abertis
telecom
T hese achieve-
telecom’ ’s work work ’s s this typeof card. committed with fight the fraud this measure to Abertis has taken L building at Main terminal resentatives from the sector met in the the in met sector the from resentatives rep- summer, do every As they Martínez. of director ing and University of the manag- the participation included International Pelayo future slogan the under and the team of Air Opera- the ExxonMobil both culture and regulations safety in 2011. ments the The award recognises Safety Award as recognition of its achieve- Meeting 26th Telecommunications ExxonMobil team and the Air Operations team at LondonThe awardLuton recognises the safety regulations and culture both of the Award for London Luton COMMU TE PORTS A u I ton airport. R L E . It was by organised the Menéndez Meeting was held last September September last held was Meeting Telecommunications 26th The the prestigious ExxonMobil Aviation has received airport Luton London L o ndon N abertis telecom abertis I C The bridge towards the the towards bridge The AT I O N S , Tobías telecommunications. telecommunications. of world the in situation current the of view overall an contribute to University International Pelayo Menéndez the by tor. It is an interesting opportunity offered ice of efficiencyand the future of the sec- in of the development technologies serv- such as the roll-out of infrastructures, the Magdalena Palace, with issues on the table efforts of the Air Safety Operations Com- and Asia Africa. the The award recognises presented to operational teams in Europe, top award. are Exxon’s of fiveOnly these received have teams is the it time and first the Luton London at team tions n maintained. and maintained. established jointly be can policies common the result, a As areas. ational for of all users oper- and policies cedures pro- standardised of process a up set to mittee and the Air Operations Committee n January 2013 n link managing Martínez. of abertis abertis telecom director abertis Tobías The n 65 , ART Aid for the Museum of INvso e t r’s
BRIEFS results 68 Contemporary Art in Segovia Abertis’ net recurring profit grew by 6% in the first Abertis autopistas has prevented the Museum, based in Segovia, allowing it to the closure of the Esteban Vicente carry out educational activities aimed at 9 months of 2012 Museum of Contemporary Art in Segovia families, groups, cultural associations and the with the sale of the picture Canto by the general public. The work in question, Canto, painter Esteban Vicente, who gave his name was painted in 1995, when Estevan Vicente to the museum. The painting was sold to the was 92, and it distils the energy, refinement company Ambientair and abertis autopis- and freedom of technique achieved through- tas gave the money obtained in the sale to out an artistic life. n
From left to right, either side of the painting, Francisco Javier Vázquez, chairman of the Esteban Vicente Museum of Contemporary Art in Segovia; Ricard Fornesa, director of Relations with Institutions and Innovation at abertis autopistas; ; Andrés Ortega, chief executive of Ambientair; and Ana Martínez de Aguilar, director of the museum.
PUBI L CATIONS New volume about outstanding characters
abertis autopistas has presented the Mayor of Sant Hilari Sacalm and chairman of new volume in the collection Personatges La Selva County Council, Robert Fauria; and the il·lustres (Outstanding Characters), focused on managing director of abertis autopistas, Josep the counties of Gironès and La Selva. The book, of Lluís Giménez. The musicians Xavier Montsal- which 2,000 copies have been produced, reviews vatge and Xavier Cugat, the architect Rafael Masó, the biographies of more than 150 outstand- the writers Roberto Bolaño, Miquel Pairolí and ing people from these counties. The book was Salvador Espriu; the philologist Modes Prats and presented at the Girona Congress Centre by the the businessmen Narcís Xifra, Paulino Torras and Mayor of Girona, Carles Puigdemont; the Mayor Jaume Casademont are among the outstanding of Sant Martí de Llémena and chairman of the characters included in the book, which also tours Gironès County Council, Jaume Busquets; the the towns and villages of these counties. n The company has multiplied The managing its stock exchange capitalisation by 21 director of abertis autopistas, Josep Lluís Giménez, accompanied by those involved in abertis celebrates 25 the book. years on the stock market
66 n link abertis n January 2013 MARCH 2010 n link abertis n 73 Investor’s LINK
Abertis’ operating revenue in the first 9 months of 2012 reached 2.992 billion euros.
The consolidated results for the first in two payments, and capital expansion – is although we predict that 2012 will close in nine months of 2012 incorporate the capi- one of the pillars of the company and an Spain with a fall of around 10%, which tal gain for the sale of Eutelsat, carried out example of its strength in a very complex means a cumulative figure of approximately through the accelerated placement among economic situation.” 30% since the start of the crisis.” qualified investors of 16% in January and The managing director of abertis, Fran- The financial and corporate develop- Results an agreement with Chinese Investment cisco Reynés, said: “The company’s progres- ment managing director of abertis, José Corporation (CIC) for the sale of an addi- sive internationalisation and the strength- Aljaro, pointed out that: “abertis is imple- tional 7% in June. They also incorporate the ening of our operational efficiency and cost menting a dynamic asset management capital gains for the sale last August of the plan has made it possible to make up for strategy allowing growth and improvement shareholding in Brisa, as well as the provision the effects of a reduction in Spanish toll of its leverage ratios. The long-term debt January-September of various cost items intended to adapt the road traffic.” Along these lines, Reynés market has recognised the management company’s structures to domestic demand. stressed: “We have noted that, since the effort being made by the company and proof abertis closed the first nine months The capital gains for the sale of Eutelsat and summer, the drop in traffic has stabilised, of this is that in October we have been able of 2012 with improved results in Brisa bring the Group’s net profit in this to place a 7-year bond for 750 million euros most magnitudes. The improvement in rev- period to 1.003 billion euros (+69%). With- at a very competitive interest rate of 4.75%.” 2012 enues (+1%), recurring Ebitda (+3%) and out considering these extraordinary contri- abertis’ net profit grew by 6% in the first recurring net result (+6%) are outstanding butions, the recurrent result reaches 536 MAINTENANCE OF THE I ncome statement in a period when the development of traffic million (+6%). Abertis' operating revenues in the first 9 9 months of 2012 to 536 million euros on the Group’s toll roads in Spain and France The president of abertis , Salvador DIVIDEND POLICY IS months of 2012 reached 2.992 billion euros, Tex t and photos abertis remains negative. The Group’s results in this Alemany, stressed that, “The abertis Board ONE OF THE PILLARS OF 1% up on the same period of the previous period do not yet incorporate the effects of has approved a account dividend of 0.33 THE COMPANY AND A year, which means that 53% of the revenues the incorporation of the assets of OHL’s toll Euros per share to continue with the Group DEMONSTRATION OF ITS are generated outside Spain and comes roads in Brazil; assets which, in the first half shareholder remuneration policy, which is mainly from France, Chile and the United of 2012, recorded revenues of 560 million outstanding for its solidity and stability. The STRENGTH IN A VERY Kingdom. Of all of the income, 80% is pro- euros – 23% more than in the same period maintenance of our dividend policy – based COMPLEX ECONOMIC duced in the toll road activity, whereas 13% of the previous year. on the distribution of an increasing dividend SITUATION corresponds to the sector of telecommuni-
68 n link abertis n JANUARY 2013 JANUARY 2013 n link abertis n 69 In this period, abertis’ for a sum of 750 million euros, with an airport activity annual coupon of 4.75%, maturing in Octo- achieved revenues of Ab eRTIS’ tOLL road 246 million euros, a ber 2019. The bond issue makes it possible business brought 2% increase on 2011. to extend the debt maturing profile and maintain competitive finance costs. in 2.371 billion euros Furthermore, Group investments in this in revenues (80%) period amount to 314 million euros, of which and 1.669 billion euros 256 million were put into expansion and 58 in Ebitda (88%) million into operational investments. The 69% principal expansion projects are those increase in total intended to complete the extension of the net profits to AP-7 toll road (61 million) and the third lane 1.003 billion euros. of the AP-6 (17 million) in Spain, the invest- ment related to the Paquet Vert on toll roads in France (41 million) and the purchase of 750 mobile telephony towers from Tele- fónica (68 million). 1% increase in operating D evelopment of the Group’s is part of abertis’ well-known policy of revenue, to 2.992 businesses shareholder remuneration based on the billion euros. abertis’ toll road business brought in 2.371 distribution of an annual dividend to which billion euros in revenues (80%) and 1.669 the aforementioned capital expansion is billion euros in Ebitda (88%). Traffic on added. abertis’ toll road network in 9 shows an Average Daily Intensity (ADI) of 22,068 Operating income: vehicles (-4.6%). The period is marked by 2,992 billion euros (+1%). Recurring the negative development of traffic in France Ebitda: PROFIT AND LOSS ACCOUNT AND BALANCE SHEET (-2.7%) and Spain (-10%) and by positive 1,958 billion euros (+3%). Total net levels on the toll roads in Chile, Argentina recurring profit: Profit and loss account January-September 2012 M ₧ and Puerto Rico (+4.8%). 536 billion euros (+6%). Total net profit: Sep 2012 Sep 2011 Var The telecommunications business 1.003 billion euros (+69%). Net debt: Operating income 2,992 2,964 1% closed the year with income of 370 million 12,512 billion euros (-10%). Operating costs -1,092 -1,070 2% Ebitda 1,900 1,894 0% euros (-3%) and an Ebitda of 170 million Recurring Ebitda 1,958 1,898 3% euros. Telecommunications revenue has n abertis’ board of directors approves the Provision for depreciation -815 been affected by a fall in non-recurring rev- payment of an account dividend on the Operating results 1,085 1,192 -9% enue for TDT extensions compared to the 2012 results of 0.33 euros per share, which Financial result 34 -447 same period in 2011, as well as a smaller will be paid on 8 November – 10% more Equity method result 56 96 contribution from Hispasat. In this period, than the previous year (15% if the capital Company tax -121 -204 airport activity achieved revenue of 246 expansion is taken into account). Minority interests -50 -62 million euros, with a 2% increase on 2011, n The percentage of revenues and Ebitda Company reorganisation result 0 20 cations and 7% to airports. The operating and 85% at fixed interest. The average cost and an Ebitda of 76 million euros. The prin- generated outside Spain – now over 50% Result for company shareholders 1,003 594 69% expenses, for their part, increased by 2% to of the debt is 4.68%, and the average time ciple business magnitudes have been – continues to grow, although the Group’s Recurring result for company shareholders 536 508 6% 1,092 million Euros, due to the non-recur- before it becomes due is more than six years. strengthened thanks to a slight increase in results in this period do not yet incorporate The attached profit and loss account presents, for its net value of 0, the revenues and costs rent costs related to the adaptation of the During October, as part of its active balance passenger numbers to 18 million (+1%). the effects of the acquisition of shares in corresponding to infrastructure construction or improvement services carried out during the financial year, which, for the purposes of presentation inabertis’ consolidated annual accounts, company structures to domestic demand. sheet management strategy, abertis closed OHL’s toll roads in Brazil. are recorded separately, in accordance with the provisions of CINIIF 12. The gross operating profit (Ebitda) reached a bond issue aimed at qualified investors A ccount dividend n The Group continues to reduce the weight 1,900 million euros (+0.3%), 50% of which abertis’ board of directors yesterday agreed of its debt to 12.512 million euros – 10% BC ALAN E SHEET JANUARY-SEPTEMBER 2012 (M €) was generated outside Spain. Without tak- to pay an account dividend for the 2012 less than at the close of 2011. SEP 2012 Dec 2011 ing into account the effect of non-recurring financial year for a gross sum of 0.33 euros n The negative behaviour of traffic on toll Tangible and intangible fixed assets 16,747 17,222 costs, comparable Ebitda reaches 1.958 bil- per share for each existing share in circula- roads in France (-2.7%) and Spain (-10%) Financial assets 3,443 4,181 lion euros – up 3%. TeG h rOUP’s tion with the right to receive such a dividend, partially compensated by the positive devel- Current assets 1,025 955 including those from the last capital expan- opment of traffic in America (+5%) and the investments amount Cash and banks 1,528 391 D ebt and investments sion. The maximum total sum of the account results of the efficiency plan. TL OTA AsseTS 22,923 22,749 abertis’ net debt fell in the first nine months to 314 million euros, dividend amounts to 268.8 billion euros, n The results of the first nine months of of the financial year by 1.370 billion euros of which 256 million representing an increase of 10% on the 2012 incorporate the capital gains from the Equity 4,638 4,416 to 12.512 billion euros – 10% less than at euros were devoted previous financial year – 15% if the effect sale of Eutelsat and Brisa. The Group’s net Non-current financial debt 12,820 13,452 the close of 2011. Of the total debt, 56% of the capital expansion of one new share result in this period stands at 1.003 billion Non-current liabilities 2,926 2,876 has been constituted under the guarantee to expansion and 58 for every 20 old ones is taken into account. euros (+69%). Without considering these Current financial debt 1,219 820 of the schemes themselves (without million to operational The payment of this account dividend, extraordinary contributions, the recurrent Current liabilities 1,320 1,185 recourse). 91% of the debt is long-term debt investments which is due to take place on 8 November, result reaches 536 million (+6%). n TL OTA LiaBILITIES 22,923 22,749
70 n link abertis n JANUARY 2013 JANUARY 2013 n link abertis n 71 s tock exchange From its origins as acesa in 1987 to the current year, abertis’ shares INR C Ease IN In 2012, abertis increased g roup The Group’s consolidated revaluation have revalued by an average of 10% a year, taking into account the SHARE PRICE its share price by 5.7% revenues income has moved Investor’s adjustment for capital expansions and extraordinary dividends. The compared to the previous from 470 million euros company’s stock market capitalisation has been multiplied 21 times. year, while the Ibex 35 in 1999 to almost 4 billion LINK suffered a fall of 4.7% in 2011. abertis celebrates 25 years on the stock market The company has multiplied its stock exchange capitalisation by 21 abertis’ shares have been on the Ibex 35 uninterruptedly since 1992 and are present in other top indexes such as the Standard & Poor’s Europe 350 and the FTSE Eurofirst 300. From 1987 to 2012, the shares revalued by an average 10% a year
Tex t and photos abertis
abertis celebrated the 25th anni- 12.42 euros per share and its stock market versary of joining the stock exchange capitalisation is around 10 billion euros. in 2012. A career in which the acesa shares From its origins as acesa in 1987 to the 10% A verage annual floated on 18 May 1987 at a price of 1.10 current year, abertis’ shares have revalued revaluation of Euros. 25 years later, the value of abertis by an average of 10% a year, taking into abertis’ shares – which took over in 2003 – is now around account the adjustment for capital expan- since 1987.
Stock exchange capitalisation x21
16,000 sions and extraordinary dividends. The 15,000 I ncreasing remuneration 14,000 company’s stock market capitalisation has abertis bases its shareholder remuneration TODAY, ABERTIS IS AMONG THE 13,000 been multiplied 21 times. policy on an annual dividend distributed in LEADING COMPANIES OF THE 12,000 Today, abertis is among the leading two payments. In addition, the company 11,000 IBEX 35 IN TERMS OF DIVIDEND 10,000 companies of the Ibex 35 in terms of divi- carries out an annual capital expansion. The 9,000 dend profitability. During 2012,abertis’ long-term growth of the dividend per share PROFITABILITY 8,000 shares have not been affected by the devel- will be dependent on the creation of value 7,000 opment of the macroeconomic context. for shareholders and will follow a principle 6,000 5,000 While the Ibex 35 suffered a fall of 4.7%, of sustainability. Charged to the 2011 finan- 4,000 abertis increased its share price by 5.7% cial year, abertis increased direct remu- I nTERNATIONALISATION has 3,000 compared to the previous year. Its financial neration to shareholders in the form of 2,000 solidity and the quality of its assets have ordinary dividends by 10% which, added to been a basic element in 1,000 0 allowed it to publish a 1% growth in rev- the 1*20 capital expansion, meant an abertis’ growth during enues for the first 9 months of 2012, with increase in ordinary remuneration of around the last 25 years 1991 2011 1987 1987 1997 1993 2012 1992 1995 2010 1988 1989 1996 1998 1999 2001 1994 1990 18/05/ 2007
2003 abertis 2002 a net recurring profit of 5.6%. 15%. Meanwhile, in 2011, paid an 2005 2006 2008 2009 2000 2004
72 n link abertis n JANUARY 2013 January 2013 n link abertis n 73 512.2 Development of dividends paid CH ROnologY 443.4 18.05.87 First day acesa effectively 422.3 quoted. 402.2 14.01.92 Start of the Ibex 35 357.5 selective index. 12.09.94 acesa launches a takeover 304.0 289.5 bid for saba. 264.2 24.03.98 The Ibex 35 goes 237.4 over 10,000 points. 19.03.02 acesa launches a takeover +15% bid for iberpistas. +5% +5% 20.05.02 Agreement for the merger +12% +18% giving rise to abertis. +10% +5% 19.07.02 Result of the takeover bid +11% for iberpistas. 02.06.03 First day abertis quoted. 04.12.03 Acquisition of retevisión 2003 2004 2005 2006 2007 2008 2009 2010 2011 completed. 24.11.04 abertis and Aena international launch a takeover bid for TBI. 14.12.05 The French government awards sanef to the abertis A nnual development of abertis shares consortium. 05.12.06 abertis acquires 32% of the 20.000 satellite operator Eutelsat. Historical abertis share price development 18.000 20.04.07 The Ibex 35 reaches a historic high of 15,080.90 points. 16.000 15.05.07 abertis shares record their adjusted closing high of 14.000 €24.98 per share. 12.000 18.05.07 abertis celebrates 20 years on the stock market 10.000 15.02.08 abertis’ board approves the acquisition of 28.4% of Hispasat. 8.000 19.12.08 Acquisition of de ACS’ shares in 6.000 Autopista Central and Rutas del Pacífico. 4.000 26.06.09 abertis completes the acquisition of Itínere’s 2.000 holdings in Spain and Chile. 0.000 01.09.10 CVC joins the ranks of abertis’ shareholders. 18-11-12 18-11-91 18-11-97 18-11-03 18-11-88 18-05-11 18-11-06 18-11-09 18-11-94 18-11-00 18-02-12 18-02-91 18-08-10 18-08-01 18-05-87 18-02-97 18-08-07 18-05-93 18-02-03 18-02-88 18-08-92 18-08-95 18-05-96 18-05-02 18-05-99 18-05-05 18-02-06 18-02-09 18-08-89 18-02-94 18-08-98 18-05-08 18-05-90 18-02-00 18-08-04 14.01.11 abertis sells 6.68% of Atlantia’s share capital. 18.05.11 Sale of car parks and logistics. abertis focuses extraordinary dividend of a gross sum of 25 years. The comparison of abertis’ on three business areas toll roads, telecommunications 0.67 euros per share and returned contribu- results in 2012 with those recorded in and airports. tions charged to the account for the 2011 1999 (still as Acesa Infrastructures) 13.01.12 abertis sells 16% of Eutelsat’s financial year for a gross sum of 0.40 euros exemplifies the great leap undertaken share capital to qualified per share, making a total of 1.07 euros per by the company, culminating in the last investors. share of extraordinary remuneration. financial year, with the integration of 18.05.12 abertis celebrates 25 years on the stock market. During 2012, abertis has made up for OHL’s toll road concessions in Brazil 22.06.12 abertis sells 7% of the reduction in traffic with the geograph- and Chile and the announcement of the Eutelsat’s share capital to CIC. ical diversification of its activities, together increased holding (to 40%) in the satel- 06.08.12 The Board of Directors with a strict cost containment policy. Aber- lite operator Hispasat. gives the green light to the project to integrate the shares tis continues to be a great cash generator, In addition, the Group’s consoli- in OHL’s toll roads in Brazil. allowing the company to maintain its dated income has moved from 470 mil- 08.08.12 abertis accepts the takeover shareholder remuneration policy with guar- lion euros in 1999, of which 3% corre- bid drawn up by Tagus for Brisa antees. During June, a 1*20 capital expan- sponds to international activity, to al- and sells its 15.02% holding. 06.12.2012 abertis completes the sion was carried out and on 8 November most 4 billion in 2011, with more than operation to integrate the an account dividend was paid of 0.33 euros 50% outside Spain. shares in OHL’s toll roads in gross per share – an increase of 10% on The continuing process of interna- Brazil. 2011 – charged to the 2012 financial year. tionalising its activities has allowed 21.12.2012 abertis completes the acquisition of three OHL toll abertis to be present in 14 countries, roads in Chile. I nternational nature including France, the United Kingdom, 10.01.2013 abertis completes the Internationalisation has been a basic el- Chile, Brazil and the United States, acquisition from Telefónica of 7.2% of Hispasat’s capital. ement in abertis’ growth during these compared to 3 countries in 1999. n
74 n link abertis n January 2013 culture
environment
art
research
road safety
for a world that works At the abertis foundation, we promote research into the impact infrastructures have on our territory, the environment, the economy and demographics. One of the ways in which we have responded to abertis’ commitment to Corporate Social Responsibility has been the development of a Road Safety Programme, which aims to raise awareness of the need for responsible mobility. Conscious of our historic and artistic heritage, we act to promote and conserve it, aiming to bring culture closer to people. This is our commitment for a world that works.
fundacionabertis.org
AAFF PAG A-4 ENG.indd 1 03/12/10 13:08 we make your city more intelligent
An intelligent city is safer, more efficient, more sustainable and create bonds of participation and trust. We make the and, in short, the future. This is what we wish to build city safer by providing it with systems to detect incidences together with you: a better city to live in. We are therefore and thus deal with any emergency. With abertis telecom providing it with sensors that collect and send data to a we place innovation within people’s grasp and grow their control centre where they are managed to optimise public telecommunications to make their city an intelligent city resources. We connect even the most inaccessible corners and the city of tomorrow.
infrastructures that work
revita smart city 210x297 ingles frances..indd 1 08/10/12 18:46