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Worldreginfo - 7D25c2f9-Fbfd-40Cb-8Ddb-5Fa780aaf997 Annual Report 2009 Worldreginfo - 7D25c2f9-Fbfd-40Cb-8Ddb-5Fa780aaf997 Contents

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Worldreginfo - 7D25c2f9-Fbfd-40Cb-8Ddb-5Fa780aaf997 Annual Report 2009 Worldreginfo - 7D25c2f9-Fbfd-40Cb-8Ddb-5Fa780aaf997 Contents ANNUAL R EPORT 2 009 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 annual report 2009 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 contents 04. 08. 1 2. 14. KEY LETTER FROM MISSION, VISION 2009 FIGURES THE CHAIRMAN & VALUES MILESTONES 18. 20. 3 0. 1 10. ORGANIZATIONAL CHART INTERNATIONAL ACCIONA IN 2009 INNOVATION ACCIONA Infrastructure ACCIONA Energy ACCIONA Agua ACCIONA Real Estate ACCIONA Logistics & Transport Services ACCIONA Urban & Environmental Services Other Businesses: Bestinver, Hijos de Antonio Barceló & GPD WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 KEY FIGURES ACCIONA Annual Report 2009 // 4 KEY FIGURES ACCIONA Annual Report 2009 // 5 APPRECIATION OF DIVIDEND PAYMENTS DIVIDEND PAYMENTS (million euros) 40% 231.9 30% 191.3* 185.6 20% 183.7 10% 147.4 0% 1-09 2-09 3-09 4-09 5-09 6-09 7-09 8-09 9-09 10-09 11-09 12-09 -10% -20% ACCIONA 2005 2006 2007 2008 2009 IBEX 35 -30% * Pending approval by the 2010 General Shareholders’ Meeting stocK MARKET data JANUARY-DECEMBER 2008 JANUARY-DECEMBER 2009 Initial price 216.85 89.00 Final price at 31 December 89.00 91.10 Appreciation -58.96% 2.40% Minimum price 55.45 83.1 Maximum price 216.85 98.4 Market capitalization at 31/12/09 (€m) 5,656 5,789 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 KEY FIGURES ACCIONA Annual Report 2009 // 4 KEY FIGURES ACCIONA Annual Report 2009 // 5 SALES 2008 2009 CHANGE EBITDA 2008 2009 CHANGE EBT 2008 2009 CHANGE (million euros) (%) 09/08 (million euros) (%) 09/08 (million euros) (%) 09/08 Infrastructure 3,592 3,613 0.6 Infrastructure 243 209 -13.8 Infrastructure 155 128 -17.4 Real Estate 320 268 -16.3 Real Estate 85 43 -49.2 Real Estate -129 -14 n.a. Energy 1,784 1,248 -30.0 Energy 589 629 6.8 Energy 187 97 -48.1 Logistics & Transport 914 811 -11.3 Logistics & Transport 39 86 119.2 Logistics & Transport -56 21 n.a. Services Services Services Urban & Environmental 772 732 -5.3 Urban & Environmental 70 60 -15.0 Urban & 26 24 -6.8 Services Services Environmental Services Other Businesses & 140 110 -21.1 Other Businesses & 49 33 -33.5 Other Businesses & 69 73 5.9 Financials Financials Financials Consolidation -314 -269 -14.4 Consolidation -7 -18 158.2 Consolidation -10 -15 53.1 adjustments adjustments adjustments SALES 7,208 6,512 -9.6 EBITDA 1,069 1,043 -2.5 ORDINARY EBT 353 314 -11.1 Extraordinaries -23 -99 339.2 EBT 331 215 -35.0 SALES (million euros) GROSS OPERATING PROFIT (EBITDA) EARNINGS BEFORE TAX (EBT) (million euros) (million euros) 2,827 774 12,665 713 657 7,953 493 6,512 6,272 342 1,407 4,853 259 3,865 4,046 219 215 3,415 194 3,026 960 1,043 161 2,873 743 569 411 288 288 244 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 KEY FIGURES ACCIONA Annual Report 2009 // 6 KEY FIGURES ACCIONA Annual Report 2009 // 7 Earnings per share leapt from 7.3 euros in 2008 to 19.9 euros in 2009, an increase of 272.6% EARNINGS PER SHARE (euros) DIVIDEND PER SHARE (euros) CAPITAL RESOURCES PER SHARE (euros) Pay-OUT (%) roe (%) Rate OF RETURN ON DIVIDEND* (%) 9.8% 76.0 47.8% 3.65 47.0% 73.8% 72.9 45.5% 69.1 40.0% 30.6 3.01 2.89 2.92 50.3 33.3% 6.5% 2.32 31.8% 43.0 21.6 41.5 5.2% 1.67 24.4% 4.8% 15 4.6% 1.38 4.2% 19.9 90.6 3.9% 4.0% 1.20 29.6% 3.3% 7.3 0.70 12.2 13.4% 15.1% 20.6% 20.5% 21.9% 3.3% 5.1 0.61 11.7 10.7 19.7% 15.4% 2.5 3.6 1.8 2.2 10.1% 10.6% 4.5% 8.1% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 *Dividend per share/Capital resources per share WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 KEY FIGURES ACCIONA Annual Report 2009 // 6 KEY FFIGURESIGURES ACCIONACCIONAA Annual Report 2009 // 7 Earnings per share leapt from 7.3 euros in 2008 to 19.9 euros in 2009, an increase of 272.6% EARNINGS PER SHARE (euros) DIVIDEND PER SHARE (euros) CAPITAL RESOURCES PER SHARE (euros) PAY-OUT (%) ROE (%) RATE OF RETURN ON DIVIDEND* (%) 9.8% 76.0 47.8% 3.65 47.0% 73.8% 72.9 45.5% 69.1 40.0% 30.6 3.01 2.89 2.92 50.3 33.3% 6.5% 2.32 31.8% 43.0 21.6 41.5 5.2% 1.67 24.4% 4.8% 15 4.6% 1.38 4.2% 19.9 90.6 3.9% 4.0% 1.20 29.6% 3.3% 7.3 0.70 12.2 13.4% 15.1% 20.6% 20.5% 21.9% 3.3% 5.1 0.61 11.7 10.7 19.7% 15.4% 2.5 3.6 1.8 2.2 10.1% 10.6% 4.5% 8.1% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 *Dividend per share/Capital resources per share WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 LETTER FROM THE CHAIRMAN ACCIONA Annual Report 2009 // 8 letter from the chairman JOSÉ MANUEL ENTRECANALES CHAIRMAN & CEO OF ACCIONA Dear Friends, Fiscal Year 2009 was marked by the severe 10,000 direct jobs. We trust that, in spite creation, installation of alternative energy impact of the global financial and economic of the current economic difficulties, the sources and the guarantee of the availability downturn, giving rise to a highly complex obvious need to overcome the significant of and access to water. situation without precedent in the last decades. social, economic and global environmental Despite this difficult context, ACCIONA imbalances will continue to validate our As with our lines of business, our achieved some solid results in this fiscal year business model in the years ahead. management practices are consistent with and is ready to meet the challenges that lie such a strategic approach. In 2009, the ahead armed with a consolidated business Our Company’s business model is none other Environmental Efficiency Plan led to a 12% model and great potential for growth. than that of advancing the progress of the reduction in our CO2 emissions compared to communities in which we operate towards 2008, and our products and services avoided In the last five years, ACCIONA has doubled balanced and sustainable development. net atmospheric emission of 7.6 million its operating income and its infrastructure ACCIONA delivers products and services metric tons of CO2, 36% more than in the portfolio, has increased fivefold installed that help to overcome some of the most previous fiscal year. wind power capacity - becoming the significant challenges facing the most third largest renewable energy operator prosperous and advanced economies and This unbending commitment has been in the world - and has created more than developing ones alike, namely: infrastructure acknowledged for the third year in a row by WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 LETTER FROM THE CHAIRMAN ACCIONA Annual Report 2009 // 9 ‘We have strengthened our business model, positioning ourselves as the third largest renewable energies operator in the world’ the Dow Jones Sustainability Index through complements our Energy division and valued EBITDA came to 629 million euros, 60% its designation of ACCIONA as Sector Leader at 2,844 million euros, reducing our net debt of the Group total, a 7% increase over in terms of sustainability. position of 17,897 million euros as at end- the previous fiscal year. In 2009, installed 2008 to 7,265 million euros as at the close capacity increased by 2,566 MW, of which With regard to our key performance indicators, of 2009. The transaction also allowed us to 488 MW was developed organically and consolidated earnings came to more than enhance our business model, and we now 2,078 MW was acquired from Endesa, 6.5 billion euros, and gross operating profit was rank as the world’s third largest renewable bringing the total installed capacity as at just over 1.04 billion, 2% less than in 2008. energy operator. the close of the fiscal year to 7,437 MW, 53% greater than 2008. In 2009, faced with growing instability in the Regarding the contribution of the main financial system, together with rising prices Group divisions, ACCIONA Energy, in spite of ACCIONA Infrastructure’s project pipeline and limited access to credit, we reached an the steep decline in energy prices, essentially stood at 7,021 million euros, equal to agreement with Enel and Endesa pursuant to resulting from decreased demand and the two years of activity, resulting from the which we exercised our put option early.
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