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Energy Model and the Capacity Awarded This Its Highest Qualification, Included in This Report the Valuation

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Energy Model and the Capacity Awarded This Its Highest Qualification, Included in This Report the Valuation •2/3 corporation in the current energy model and the capacity awarded this its highest qualification, included in this report the valuation of ACCIONA to reduce CO2 emissions by A+, in the same way as the principles of by a Committee of Independent Experts General Shareholders’ Meeting 2007 more than 1% by 2030, necessary to palliate Accountability standard AA1000. In its formed by Transparencia Internacional, ACCIONA approves a 25% increase in dividends the effect of the climate change. efforts to be at the forefront of good WWF Adena, WorldBank Institute, practices in this field, ACCIONA has included Fundación Economistas sin Fronteras Sustainability Report 2006 three innovative measures in its work and Fundación Economía y Desarrollo. The Sustainability Report for 2006 methodology: This valuation of key issues is very positive The General Shareholders’ Meeting of was presented at the Shareholders’ - Contents definition test: ACCIONA has globally and indicates the lines followed ACCIONA, held last 6th June, approved the Meeting, stating and taking to effect the prepared a previous study to select the most for improvement. distribution of supplementary dividends of commitments of ACCIONA with regard to substantial and representative contents for - Approval by the Board of Directors: 1.83 gross euros per share which, added to the principles of sustainable development, the different stakeholders and to include Sustainability Report 2006 has been formally the dividend on account of 1.06 gross euros good governance and corporate them in the report. submitted to the Board of Directors of paid in January, gives dividends per share of responsibility. The Report was prepared in - Committee of Independent Experts: ACCIONA, upon proposal by the Auditing 2.89 gross euros in year 2006. This retribution accordance with the guidelines established as a supplementary example of business Committee, as a formula for commitment means a 25% increase with regard to the in the third version of the Global Reporting transparency and with the aim of including at the highest level of shareholders with dividends paid for 2005 and will mean a Initiative (GRI), an organisation that has the opinion of its stakeholders, ACCIONA has the contents and policies it includes. global payment of over 183 million euros for the company. The Meeting approved the management reports and the accounts corresponding to 2006, in which consolidated net profits rose to 1,370 million euros, which Results for the First Quarter 2007 would be like multiplying by more than four ACCIONA closed the first quarter of increase with regard to the previous year. The 21% shareholding in Endesa has meant times the net profits obtained the previous 2007 with net attributable profits of This improvement is due to the strong a positive impact of 56 million euros in Pre- year, while sales increased by 29% to reach 141 million euros, meaning a 38.2% organic growth and to the excellent results tax Profits (BAI), resulting from subtracting 6,272 million euros. The Meeting ratified increase with regard to the first quarter of Infrastructures and Real Estate. the expenses associated with the sharehold- the modification of certain articles of the of the previous year. Consolidated ing from the dividends received. Social Statutes and the Regulations of the business turnover increased by The investment was of 578 million Shareholders’ Meeting that will allow the 25.9% to 1,641 million euros, with euros, destined to the acquisition texts to be fully adapted to the Unified Good a favourable development of all Stock Market Data march 2007 of an additional 0.7% sharehold- Governance Code, among others, in those the divisions. The 23.9% increase in ing in Endesa and to organic Starting Price 2007 (E/share) 143.05 aspects regarding the makeup of the Board sales by ACCIONA Infrastructures growth of ACCIONA Energy, AC- of Directors Commissions, the summons for should be highlighted due to its Final Price 31st March 2007 (E/share) 162.15 CIONA Urban and Environmental the Board or the fields of responsibility and relative weighting in the busi- Appreciation 3m 2007 13.35% Services and ACCIONA Infrastruc- ways of adopting agreements of the Meeting. ness turnover of the group; the tures. The investment in Endesa, E Likewise, all the members of the Board of strong growth of ACCIONA Urban Minimum Price 3m 2007 (08/02/2007) ( /share) 136.8 together with the continuous Directors where renewed in their positions and Environmental Services, by Maximum Price 3m 2007 (08/01/2007) (E/share) 165.1 investment strategy of ACCIONA, for periods of five years and the delivery of a 67.4%, mainly due to the consoli- has led the net financial Daily average volume (shares) 349,637 maximum of 9,150 shares of ACCIONA to the dation of the water division; and debt on 31st March 2007 top management of the group was authorised, the 40.8% increase in ACCIONA Daily average volume (euros) 53,403,554 to reach 9,906 million euros in execution of the Plan for Delivery of Shares Energy, resulting from the strong (75.3% being without recourse) approved last year by the Shareholders’ Number of Shares 63,550,000 José Manuel Entrecanales during his intervention organic growth of the wind power and has positioned the debt Meeting. capability installed, reaching 3,317 Market Capitalisation ratio at 183% of own funds, which emissions; and all value added services that MW. The Gross Operating Result st E allows ACCIONA to contribute towards the triple results account: the 31 March 2007 ( Million) 10,305 The commitment of ACCIONA (EBITDA) on 31st March was at 241 maintain its financial capacity creation of economic value, social progress and towards sustainability million euros, representing a 7.2% to continue with its growth policy. In his speech, the Chairman of ACCIONA, José The Sustainability care for the environment”. With regard to the Manuel Entrecanales, stressed the commitment Report 2006 states the strategic investment in Endesa, the chairman of of ACCIONA towards sustainability, highlighting ACCIONA insisted on the free, autonomous and that actions are not limited to the energy commitments of ACCIONA independent nature of the operation, executed sector but “reach all our ways of acting: the following a pure and exclusive entrepreneurial development of infrastructures contributing towards sustainable point of view. He also highlighted the compliance published by: MANAGEMENT OF INSTITUTIONAL RELATIONS, CORPORATE MARKETING AND RC. towards social welfare; property development development,good with “the most stringent legality in each and that is respectful towards the environment and every one of our actions”. ACCIONA, SA. Avenida de Europa, 18. Parque Empresarial La Moraleja. 28108 Alcobendas, Madrid. Telephone: 91 663 22 87. Fax: 91 663 22 61. e-mail: [email protected] which saves on natural resources; the treatment governance and corporate Finally, José Manuel Entrecanales highlighted chairman: José Manuel Entrecanales. vice-chairman: Juan Ignacio Entrecanales. design and production: Promotora General de Revistas, SA. printed by: Dédalo Altamira. copyright: M-35.445-1997 of water as a scarce commodity; alternative responsibility the opportunity to create value offered, both transport and logistics services reducing for ACCIONA and Endesa, by the deficiencies •4/5 corporation ACCIONA, new benefactor of the Prado Museum It will sponsor the great summer exhibition dedicated EOLIA: at the forefront to Joachim Patinir and the invention of landscapes of offshore wind farms ACCIONA becomes a new benefactor of the treasured over time for future generations, physically conserved and offered for their in deep waters Prado Museum with a contribution of 2.5 million while making this available to society for its best public display. euros up until 2011. This contribution will be study, admiration and enjoyment. This main Thanks to ACCIONA, with its contribution linked to the development of the Museum activity of the institution, based on the quality towards the development of this conservation ACCIONA, via ACCIONA Energy, leads The projects are part of the Ingenio 2010 conservation and restoration programme, and experience of the technical personnel of and restoration programme of the Museum in the EOLIA project, whose aim is to programme by the Spanish Government, one of the programmes with priority in this the Museum and on the application of the the next four years, the Prado will shed new develop technologies allowing for the seeking to make R+D+i activities in industry institution. The thriving leadership of ACCIONA latest technology, allows works of art to be light on masterpieces of its collection, offering implementation of offshore wind farms more dynamic. in the scope of management of infrastructures, new visibility to relevant aspects of this and in deep waters. The research activities As a result of our commitment towards services and renewable energy, its identity as a favouring social awareness of its conservation integrate energy technologies (wind and innovation, ACCIONA is showing an Spanish company with important international and restoration activities. electricity), aquaculture, desalination, naval outstanding participation in these CENIT implementation, and its social orientation as a Thanks to the construction and technology, with the active projects. It also leads the PROMETEO pioneer in development and sustainability, First collaboration participation of ACCIONA Windpower, project for the development of new make it an ideal
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