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An Event Tailor-Made for ACCIONA

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An Event Tailor-Made for ACCIONA PORTADAS ENG.qxp:Maquetación 2 4/7/08 16:53 Página 3 nº39 spring/08 EXPO ZARAGOZA 2008 An event tailor-made for ACCIONA interview Elena Reyna, Manager of the ACCIONA Pavilion at Expo Zaragoza 2008 energy Nevada Solar One, a world reference 2-3 EDITORIAL ENG.qxp:Maquetación 2 4/7/08 16:54 Página 1 2-3 EDITORIAL ENG.qxp:Maquetación 2 4/7/08 16:54 Página 2 letter from the Chairman ear Friends, DIn 2007, ACCIONA celebrated its tenth anniversary. At our last meeting of executives in Barcelona, we asked ourselves where we aim to be in ten years time. By then we intend 70% of ACCIONA’s business to come from inter- national markets and we're on the right track to achieving that goal. Collectively, our company’s entire range of activities forms an integral package, a package that is capable of meeting a wide range of needs in the sectors of infrastructures, water, energy and services to the highest stan- dards of excellence and anywhere in the world. Over the next ten years we will also need to constantly update our manage- ment approach, strengthening its focus on our motto: ‘Pioneers in Devel- opment and Sustainability’ and making it reality. In fact, this concept of a pioneering company defines our very core; it's the element that sets us apart. Innovation, creativity and flexibility are the qualities that must guide our steps, with the aim of finding alternatives to help create a better, sustainable world. We aim to deliver solutions to society. That’s why we’re involved in initia- tives such as Expo Zaragoza. Raising awareness of responsible use and “This concept of consumption of water and providing supply solutions that allow us to de- fine new development maps is not just a collateral strategy of our business– a pioneering it is ‘our raison d’être’. company is our I invite you to join in this wonderful celebration of water. It represents an very core, the appeal to the values and ethics of advanced societies, those most capable of element that sets us providing global solutions and laying the foundations for sustainable devel- opment. I don’t need to give out invitations to the ACCIONA Expo Pavilion: apart. Innovation, consider it your home. But I would like you to encourage your friends and creativity and family to visit it to see how very seriously ACCIONA is taking its role in this flexibility are the venture. A venture that unites us all and will allow us to see the challenges posed by these times as opportunities, and to tackle them as such. qualities that With kind regards, must guide our steps.” José Manuel Entrecanales Chairman of ACCIONA spring/08 3 4-5 SUMARIO ENG.qxp:Maquetación 2 4/7/08 16:55 Página 1 4-5 SUMARIO ENG.qxp:Maquetación 2 4/7/08 16:55 Página 2 contents reports spring 2008 6 12 14 20 22 26 28 32 nº39 corporation interview infrastruc- real estate energy logistics water other tures and transport activities services Published by INSTITUTIONAL RELATIONS, CORPORATE MARKETING AND RC MANAGEMENT ACCIONA, S.A. 2007 LAI CHI KOK SIMA NEVADA ACCIONA AN INSIDE Avenida de Europa, 18. RESULTS Parque Empresarial la Moraleja. 28108 VIADUCT This Madrid trade SOLAR ONE TRASMEDITE� LOOK Record in gross Alcobendas, Madrid. operating results. A model piece of fair showcased The solar plant RRANEA The fascinating Telephone: 91 663 22 87. Fax. 91 663 22 61. email: [email protected] work, pioneering cutting-edge in the Nevada Major research of the MANAGERS in the use of sustainable real desert becomes investments Department of DESIGN AND PRODUCTION Barcelona recycled concrete, estate develop- a world reference. in the fleet. Processes and Pilot LINK IDEAS S.L. that has changed ments. Plants in Barcelona. hosts the Copyright Library: M-35.445-1997 annual meeting, the layout of a forum laying Hong Kong. THE TORREVIEJA OUTSTANDING the foundations ELENA DESALINATION WINES The paper used for this magazine is chlorine-free of our future. REYNA PLANT The best selection and generated from sustainable forests. The FSC The Alicante plant certification, promoted by the Forest Stewardship Reveals the of wines for this Council, ensures the forests are managed in a will be the largest responsible manner and that the paper maintains EXPO 2008 secrets inside spring, with the the traceability or chain of custody throughout the in Europe. entire process of transformation and finishing off An international our Pavilion quality assurance of the product. congregation in at Expo Zaragoza. of Hijos de Antonio support of Barceló sustainability. 4 spring/08 spring/08 5 6-7 CORPORATIVA ENG.qxp:Maquetaci—n 2 4/7/08 16:56 Página 2 6-7 CORPORATIVA ENG.qxp:Maquetaci—n 2 4/7/08 16:56 Página 3 corporation PROFIT AND LOSS ACCOUNT THE IMPACT OF ENDESA 2006 2007 % Both the impact of Endesa on the EBITDA (429 million) and on Sales 6,272 7,953 26.8 FINANCIAL YEAR 2007 AND FIRST QUARTER 2008 turnover (1.2 billion) corresponds to the 25% proportional con- EBITDA 960 1,407 46.6 solidation of Endesa during the fourth quarter of 2007. The im- pact of 318 million euros on the Earnings Before Taxes (EBT) cor- Operating Income 630 935 48.4 responds to the positive result obtained through dividends dis- A solid profit and loss account NET INCOME 1,370 975 -28.9 tributed by the company, free from expenses associated to the acquisition of shares in the first nine months of the year and with million euro Investment in the energy market has boosted ACCIONA’s income. the proportional consolidation of the aforementioned 25% dur- This sharp rise demonstrates the strength of our business model. ing the fourth quarter of 2007. BALANCE SHEET on 31st December THE INVESTMENT EFFORT 2007 2006 The investment has reached 3.1 billion euro, mainly destined Net Assets 6,456 4,633 to the acquisition of an additional 4.7% share in Endesa. The rest Net Debt -17,804 -9,128 of the investment was mainly destined to the organic growth of the activities carried out by ACCIONA Energy, CCIONA ended 2007 with a net operat- it dropped on from 1.4 billion to 975 Financial Leverage -276% -197% ACCIONA Infrastructures, ACCIONA Environmental and Urban ing income of 935 million euros, mean- million euros, 28.9% less, mainly due a Annual Investment 3,114 7,942 Services and ACCIONA Real Estate. ing a 48.4% increase over the previous to a lower contribution from the dis- million euro year. The gross operating income (EBIT- posal of non-current assets to these re- DA), reached 1.4 billion, meaning a sults, reaching 299 million euros, as 46.6% increase, equivalent to a 17.7% opposed to 1.0 billion in 2006 (main- Endesa contributed reaching 8.0 billion euros. This in- ACCIONA Environmental and Urban The sales of the group turnover margin. ly obtained through the sale of FCC 1.2 billion euros crease was mainly due to the propor- Services and ACCIONA Energy. The reached 8.0 billion The inclusion of Endesa accounts for and Vocento shares). tional consolidation of Endesa during ACCIONA Infrastructures sales in- to the turnover in 2007 euros, 26.8% more 429 million euros of the total turnover. The consolidated turnover of the last quarter of the year and the rise crease stands out due to its relative On its part, the net attributable prof- ACCIONA increased to 26.8% in 2007, in sales of ACCIONA Infrastructures, weight of turnover among the group; than the previous year the 29.4% growth experienced by ACCIONA Environmental and Urban The attributable wind THE UPWARD TREND CONTINUES Services; and the 28.4% rise of ACCIONA Energy. power capacity ACCIONA has closed increase is mainly due Specifically, the The net attributable euros, of which Endesa activities carried out by The divisional contribution to EBITDA installed reached the first quarter of 2008 to the proportional consolidation of Endesa profit reached 154 contributed 1.3 billion ACCIONA Energy and 159 came to 27.6% from ACCIONA Energy, in an extremely positive consolidation of Endesa accounted for 63.5% of million euros in this euros. million euros 20% from ACCIONA Infrastructures 3,030 MW, 29% more light, with a gross during the first quarter the EBITDA; period, 9.5% more than corresponding to operating income of the previous year and the contribution by at the end of the first Investment has investments carried out and 8.8% from ACCIONA Real Estate. than in 2006 (EBITDA) of 636 million the increase in the ACCIONA Energy was quarter of 2007; while reached 480 million by Endesa. The rest of the The service division contributed 8.1% euros, 164% more than contribution from 23.2%; and that of turnover increased by euros, including 216 business areas have and finally the contribution from the same period of the ACCIONA Energy and ACCIONA Infrastructures 74%, rising from 1.6 million invested in the meant an investment of Endesa was 30.3%. previous year. This other divisions. 8.2%. billion to 2.9 billion organic growth of the 105 million euros. 6 spring/08 spring/08 7 8-9 directivos ENG.qxp:Maquetaci—n 2 4/7/08 16:59 Página 2 8-9 directivos ENG.qxp:Maquetaci—n 2 4/7/08 16:59 Página 3 corporation TOP MANAGEMENT 2008 A concentration of talent The Top Management meeting 2008 was held in Barcelona on March 27th and 28th, a congregation of four hundred ACCIONA executives from around the world, exchanging points of view and information on future projects.
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