INTERVIEW Tano Santos, director of the abertis-FEDEA chair P. 20 Eutelsat is driving 3D technology P. 14 First half results for the abertis group P. 76 AUGUST 2010 Nº02 - SECOND PERIOD The debate on infrastructure financing and management EDITORIAL Looking to the future In recent weeks I have been given the When talking about cycles in the econ- opportunity to play a part in the omy we refer to the expansive phase and the WE ARE graduation ceremonies of both graduates recessive phase. These are the two poles of OPERATING WITHIN and masters at two business schools. I was one and the same reality. It is in the moment asked to put together, in the form of a mas- of crisis when, without losing sight of the A FRAMEWORK IN ter class, some reflections taken from my market and of the opportunities that are also WHICH WE MUST years of experience as an executive in differ- still arising, we must perform the exercise of ALL –COMPANIES ent companies, and especially in abertis. The looking within and seeking to continuously AND MEMBERS OF connecting thread running through these improve the efficiency of our processes, while SOCIETY– ACCEPT was the argument that it is we ourselves adjusting –as society as a whole does– the A PATTERN OF –each one of us– who is playing the game, costs and resources with which we are work- and that a significant part of the responsibil- ing and while also aiming to generate the CONSUMPTION AND ity for everything that happens to us –is our maximum possible return, so that all those INVESTMENT THAT own. That, in the end, in the various areas of who have, or are considering, an interest in IS MORE RATIONAL, our lives –both professional and personal– we us –the shareholders, the managers, the ana- MORE SELECTIVE are, to a great extent, the results of our own lysts, the authorities, the communication AND, PERHAPS, actions and beliefs. media (to summarise the society in which MORE AUSTERE This is as true for people as it is for we work)– may find in abertis a solid, prof- projects. In this respect, as I explained to them, itable and attractive reference point. learning is the key. Learning defines an atti- If we have learned something from this tude that is both essential and dynamic. A crisis, it is that the winning models are those habit and a character. An ability to question that choose realism, toughness and selectiv- ourselves and, in some way, to continuously ity when making decisions. We are operating recreate and re-cast ourselves. It defines a within a framework in which we must all willingness to test what we have produced, –companies and members of society– accept within the context of a crisis scenario. A will- a consumption and investment model that ingness to do and re-do. is more rational, more selective and, perhaps, And also to look back without nostalgia, more austere. It is, however, a model with a to analyse and interpret the circumstances better future and a stronger foundation. which surround us, and to be aware, as we We must not renounce progress. Quite move forward, that the objective is not a the contrary, the crisis should be a stimulus specific goal or a definite end point, but rather for the processes of innovation and efficiency that the right direction can also be found in in the use of available resources. Perhaps now SALVADOR the path itself. To this awareness we add we will grow more selectively and more slowly; ALEMANY knowledge, experience and, very importantly, but, we must not forget, we will be doing this PRESIDENT OF ABERTIS our companions on the same journey, with in a world in which more markets, with new whom we build a project or projects. It is a consumers and new opportunities are con- question, therefore, not of re-creating our- tinually opening up. Innovation and globalisa- selves in the when we (the “remember when”), tion –along the lines which Professor Mauro but rather the we will (the “we will continue Guillén indicated in the interview he gave to doing”, we will continue constructing, we will our magazine– are the keys to future growth. continue to discover). “We are moving towards a polycentric and The creative destruction of the Austrian multi-polar world and we must look beyond sociologist and economist Schumpeter has the Europe-US-Japan axes. Two thirds of world- always been an inspiring concept for econo- wide economic growth will be in Asia and Latin mists and also for many politicians and busi- America,” explains Professor Guillén. nessmen. These are processes which societies This is the new paradigm in which we and organisations experience. These processes are operating as a society and an economy, periodically regenerate them and give them and in which abertis will have to consolidate a new impetus. its own space. Q AUGUST 2010 Q LINK abertis Q 3 14 Nº02 SUMMARY 51 72 26 20 INFRASTRUCTURES Experts analyse the role infrastructures play in the current economic situation Parking in Pisa 58 12 30 41 saba Italia opens 56 link abertis is published by in the city centre Abertis Infraestructuras, SA REPORT TRAVEL NEWS Av. del Parc Logístic, 12-20. APIE Jamaica Third lane 41 saba, in Palma 59 08040 Barcelona. link abertis Its first car park in Investor’s link Tel.: 93 230 50 00. Fax: 93 230 50 02. abertis is taking part in A fascinating country, acesa finishes work on the EDITED AND PRODUCED BY: abertis Studies the APIE (Spanish Financial full of contrasts AP-7 toll road between the Balearic capital and Communication Corporate Direction. EDITORIAL BOARD: Salvador Alemany, Journalists Association) Maçanet and Fornells Cercle d’Economia 60 Francisco José Aljaro, Toni Brunet, 26th Conference of the Joan A. Margenat, Josep M. Vila, Francisco Reynés, conference in Santander 34 Paso del Estrecho 44 Joan Rafel and Sergi Loughney. 06 abertis autopistas Cercle involving politicians, 72 CORPORATE IMAGE AND PRODUCTION: BUSINESS economists and leading Erik Ribé and Bernat Ruiz. OPINION 14 participates in a safety SHAREHOLDERS CONTENT COORDINATOR: Summer school Alícia Cobeña. scheme for the tenth business people General Meeting 2010 Chris Nash REPORT The future of infrastructures, WRITTEN BY: Elena Barrera, Sergio Castilla, year running ‘You’ve got The group’s investors Marc Gómez, Leticia Gonzálvez, Financing transport abertis telecom a debate hosted by Esther Mir and Bernat Ruiz. Fewer accidents 45 one life left’ 62 approved the annual CONTRIBUTORS: Christine Allard, Pilar Barbero, infrastructures Life in 3D: inside and Menéndez Pelayo University Carolina Bergantiños, Bob Bullock, Julio Cerezo, The abertis foundation accounts and management outside the home The accidents along Joan Fontanals, Marta Giner, Sagrario Huelin, Anna the AP-7 has decreased London Luton 50 backs a campaign for reports for the 2009 Morera, Astrid Noury, Vanessa O’Connor, Enric 08 36 Pérez, Mercedes Pérez-Cruz, Roser Prenafeta, Astrid over the last two years EL AL begins a regular responsible driving financial year Recoque, Marc Ribó, Albert Rossell, Beatriz Sanz, BUSINESS 18 abertis, abertis autopistas, abertis telecom, REPORT Widening scheme Boeing 777-200 service Road Safety Law 64 abertis logística, abertis airports, Appointments REPORT SIL 2010 Green light for a document 74 abertis foundation, acesa, aucat, aulesa, sanef for the AP-6 46 51 aumar, avasa, iberpistas, castellana and saba. Francisco Reynés, DTT Electronic toll collection, Segovian toll road improve abertis, at the international emphasising education in INFORMATIVE FORUMS PRODUCED BY: newly appointed CEO Ediciones Reunidas, SA (Grupo Zeta). A successful conclusion to moving forward transport in the area logistics exhibition the sanctions imposed PRÓXIMO programme Revistas Corporativas Barcelona. of the abertis group the analogue switch-off Consell de Cent, 425. 08009 Barcelona. Improvements Logistic parks 54 Antarctic 66 Zaragoza, Valencia and Palma Tel.: 93 227 94 16. 40 Microma and Lince Envíos Conference on the effects de Mallorca, meeting points Manager: Òscar Voltas. Editorial coordinator: along the C-32 48 Nuria González. Chief writers: Toni Sarrià and 10 of Antarctic tourism, hosted Olga Tarín. Lay-out: Cristina Vilaplana. 26 BRANDING The new section Palafolls- open operations at by the abertis foundation Edited by: Ares Rubio. INTERVIEW TEAM linking Tordera comes into service the abertis logisticspark 76 Legal deposit: B-16432-2010. coslada abertis shareholder care line: Mauro Guillén abertis Chile The new abertis group Simulation 49 RESULTS 902 30 10 15. 68 www.abertis.com “Businesses need Conclusion after a year in-house magazine is aucat carries out an Jordi Díez 56 First half results 2010 abertis accepts no responsibility to continue pursuing of adapting to the published in 6 languages accident simulation Interview with the new BRIEF Analysis of the for the opinion of its contributors in the articles published, nor does external growth” group’s strategy and in 13 countries exercise in the C-32 tunnels managing director of saba abertis news in brief group’s assets it necessarily identify with their opinion. 4 Q LINK abertis Q AUGUST 2010 AUGUST 2010 Q LINK abertis Q 5 OPINION Financing BY transport CHRIS NASH Professor of infrastructures Transport Economics at the University of Leeds and member The European Commission, many years ago, expressed its of the European concern at the decreasing percentage of GDP being allocated Commission’s for investment in transport infrastructures within the EU High Level Group on Transport Infrastructure The Commission identified a series will vary, depending on the nature of the Charging. of priority projects which it consid- vehicle, particularly its gross weight, axle load Previously ered important for ensuring an adequate and suspension system. Only a pricing system professor of network, with special emphasis on interna- which imposes a per kilometre tax in accord- Transport Economics tional traffic.