SlideShare ist ein Scribd-Unternehmen logo
1 von 49
Downloaden Sie, um offline zu lesen
Presentation:

OHL Concesiones




                April 23rd, 2009
Contents
                                         Page
1. Basis of the Presentation              03
2. Investment Arguments and Criteria      05
3. Growth Process and Current Presence    08
4. Organization and Human Resources       13
5. 2008 and Key Magnitudes                17
6. New Concessions                        31
7. Financing in Negotiation               36
8. Strategy                               39
9. Valuation                              42
Appendix



                                                2
1. BASIS OF THE PRESENTATION
Basis of the Presentation

1.   The consolidated figures included in this presentation are “Pro-Forma”, and cover, besides data on OHL
     Concesiones, S.L., information on those concessions that:
       • Are property of other companies of the OHL Group
       • Are being transferred to OHL Concesiones, S.L., and
       • Are managed by OHL Concesiones

2.   Accounting information, pertaining to both OHL Concesiones and each of the concession holders, was
     prepared according to International Financial Reporting Standards (IFRS), that are also followed to prepare
     the OHL Group’s Consolidated Annual Accounts, accordant to laws in effect and that may differ from the
     accounting rules applicable to concession holders in each country.

3.   Any statement not expressely referred to historical data in this presentation including without limitation those
     related to the financial standing of the concession holders and of OHL Concesiones, as well as its operating
     development, business strategy, management plans and future operations objectives are to be considered
     estimations for the future. These estimations involve known and unknown risks; uncertainties and other
     factors that may cause that actual results of OHL Concesiones, its performance and achievements, or its
     business results and conditions may differ fundamentally from those foreseen or implicit in these estimations
     for the future.
     This presentation, including its estimations for the future are valid at today’s date and OHL Concesiones
     expressly waives any obligation or commitment to provide any updates or revisions of this information, any
     changes in its expectations; any change of the facts; conditions and circumstances that served as the basis to
     these estimations for the future, nor changes in the economic environment that OHL Concesiones expects to
     find in the future.

4.   In this presentation only currently existing concessions are valued. Only in the “Future Value Hypothesis”
     there is a reference to the value of possible new concession business.



                                                                                                                        4
2. INVESTMENT ARGUMENTS AND CRITERIA
Investment Criteria



• Recurrent revenues and margins.


• Selective high-yield investment with:

   - Controlled-risk.
   - Self-financing capacity without recourse to OHL Group.



• Complementary with the rest of the OHL Group business.


• Knowledge of customers, markets, technology and other aspects.




                                                                   6
Investment Criteria

• Geographical scope:
  • Strategic Countries like Brazil, Mexico, Chile, Peru and Spain.

  • Selectively in other geographical areas.



• Interest percentage: We favour majority holdings that confer decision-taking and
  control powers in each concession.

• Profitability: A 15% target in Euros, taking into account the effect of possible
  parity changes, estimated as inflation differential.

• Equity: Financed with cash flow put up by the Group.

• Debt: Non-recourse and in local currency, free from exchange rate risk.




                                                                                     7
3. GROWTH PROCESS AND CURRENT
   PRESENCE
Core Business of OHL Group

                                                 Revenues
• Wholly-owned OHL Group                                        (€ Mn)

  subsidiary, established on November   4500
  2000.                                 4000                                   14%
                                                                        542
                                               436
                                        3500
                                                        12%
                                        3000
• With growing importance within OHL    2500
  Group, currently accounting for 14%   2000
                                                                    3,466
                                               3,328    88%                    86%
  of revenues and 56% of EBITDA.        1500
                                        1000
                                         500
• Core business of OHL Group.              0
                                               2007                     2008


                                                      EBITDA   (€ Mn)

                                        700
                                        600
                                        500
                                                                        340    56%
                                        400    317
                                                        58%
                                        300
                                        200                                    44%
     OHL Concesiones
                                                                        268
                                               225
                                        100             42%
     Remainder of OHL Group
                                          0
                                               2007                     2008         9
Proven Growth Track-Record
 Establishment                                                                                                               Brazilian Federal
                                                                                                            Acquisition of
                                    Acquisition of                                                                                               Bicentenario
                                                                                       Floatation of OHL
                   94% holding
     of OHL                                                                                                                       Roads
                                                                                                         Vianorte and Toluca                       Viaduct
                                      Centrovias       Awarding of                           Brasil
                   in Autovias
Concesiones, SL                                                                                                                                  Libramiento
                                                                          Acquisition of
                                          and                                                                                          Móstoles-
                                                       CONMEX and
(with AECSA, M-                                                                                                                                     Puebla
                                                                                                          Awarding of Oeste Navalcarnero train
                                       Fumisa                              Intervias
                                                                                         Acquisition of
                   Acquisition of Awarding of Ruta 60 Port of Alicante
  45 and 9% of                                                                                                Light Rail
                                                                                                                             Aragón Highway Del Norte Highway
                                                                                         Amozoc-Perote
                      I2000       and Eje Aeropuerto
    Autovias)


   Strategic Definition                               Development                                                    Consolidation



      OHL´s Investement




                                                                                                                                                  1
                                                                                                                                                92
      Value
      Revenues




                                                                                                                                   2
                                                                                                                                 80
                                                                                                                6
                                                                                                              76
      EBITDA
                     € Mn




                                                                                                                                                        2
                                                                                             7




                                                                                                                                                      54
                                                                           4




                                                                                           53
                                                                         52




                                                                                                                                          6
                                                                                                                                        43
                                                        8
                                                      38




                                                                                                                                                              0
                                                                                                                                                            34
                                                                                                                       3




                                                                                                                                            7
                                                                                                                     33




                                                                                                                                          31
                                                                                                   0




                                                                                                                             4
                                                                                                 25




                                                                                                                           25
                                      9
                                    21




                                                                                 6
                                                                               16




                                                                                                          2
                                                              7




                                                                                                        15
                    1




                                                            12
                  12




                                                                                      91
                        85




                                           79
70




                                                                   68
      40




                                                 46
                               47
            20




     2000               2001              2002              2003               2004              2005               2006               2007           2008




Revenues C.A.G.R. (2000-2008): 38.6%                                                               EBITDA C.A.G.R. (2000-2008): 42.2%
                                                                                                                                                                  10
Transport Infrastructures Global Manager

      Highways
4,400 km of toll highways.                      Details (main concessions)
  - 4,234 km in operation.
                                                Concession
                                                                        Construction   Operation      Total
  - 166 km under construction.                  Type
      Airports
                                                Highways                      3             19         22
Integral Management. More than 4 million
                                                Airports                      0             1           1
passengers / year.
                                                Ports                         0             1           1
      Ports
                                                Railways                      1             1           2
30 hectares and 1,275 meters of berthing line
in Commercial Ports.                                           Total          4             22         26
      Railways
37 km of railways.

Number of Contracts                                              Total Km. Evolution
                                                                                                   4,400
                                                                                   4,012
 30
                                                        4000
 25
                                  26
                       24                               3000
 20                                     22
                             20
 15
                                                        2000
 10
                                                                       801
         8     8                                        1000
  5
  0
                                                           0
          2001           mar-08     mar-09                             2001        mar-08          mar-09
        Total Concessions         Highways


 Ranked 7th private transport infrastructure promoters in the world, ranking PWF 2008.
                                                                                                              11
Geographic Presence

Global Presence



                                 • Consolidated presence in
                                   attractive markets with
                                   outstanding growth potential
                                   markets.

                                 • Experience and know-how to
                                   develop the activity in other
                                   markets.




                                                                   12
4. ORGANIZATION AND HUMAN RESOURCES
Management Chart Summary: Main Concessions

                                                                                   OHL Concesiones




                                                                                                                                                                         PERU
ARGENTINA                        BRAZIL                                                                   SPAIN               MEXICO
                                                                               CHILE




                                                                 100%                                                     Circuito Exterior
    71%                                                                                                                                                                  100%
                                  60%                                                                      100%                                     87%
  Autopista                                                    Autopista                                                    Mexiquense
                                                                                                                                                   FASE I          Autopista del Norte
                                OHL Brasil                                                                 M-45
Ezeiza-Cañuelas                                                Los Andes



                                                                                                           100%
                                                                                         100%
                                                                  75%
                                                                                                                                55%                100%
                                                             Infraestructura           Autopista      Autopista M-12
                                                                                                                           Amozoc-Perote      FASES II, III y IV
                                                                  2000           Los Libertadores     Eje Aeropuerto



                                                                                                           95%                 100%
              São Paulo State                                                           100%
                                        Federal Network                                              Autovía de Aragón    Libramiento Norte
                  Network                                                        Autopista del Sol
                                                                                                          Tramo 1             de Puebla


                   100%                         100%
                                                                                                                               100%
                  Autovias               Rio de Janeiro
                                                                                                           50%
                                                                                                                              Viaducto
                                         Espírito Santo
                                                                                                     Puerto de Alicante
                                                                                                                            Bicentenario

                                                100%
                   100%
                                              São Paulo
                Centrovias                                                                                 51%                  33%
                                         Belo Horizonte
                                                                                                       Metro Ligero       Aeropuerto Int.
                                                                                                           Oeste             de Toluca
                                                100%
                   100%
                                              São Paulo
                 Intervias
                                               Curitiba                                                    100%
                                                                                                     Cercanías Móstoles
                                                100%                                                   Navalcarnero
                   100%
                                               Curitiba
                  Vianorte
                                             Florianópolis


                                                100%
                                               Curitiba
                                        Rio Grande do Sul



                                                                                                                                                                                         14
Organization Chart
                                                    Board of Directors
                                            ____________________________
                                                          Chairman
                                                 Juan Villar-Mir de Fuentes




                                                        Chief Executive Officer
                                                              Juan Osuna




                                   Legal Counsel
                                                                        Business Development Directors
                                M. Carmen Honrado
                                                                         Ignacio García / Sergio Merino
   Financial Director
     Gabriel Núñez

                                                                            Chief Construction Officer        Technical Director
                                                                               Carlos García-Faure              Pedro Martín

Administration Director       Chief Financing Officer
    Eugenio Mota                 Felipe Ezquerra
                                                                             Chief Opperating Officer           Port Director
                                                                                 Manuel Bejerano              Francisco Oviedo

  Human Resources
    Arturo Pousa




                                                                                                           Director
                   Director   Director                                     Director             Director
                                                  Director
                                                                                                             Peru
                  Argentina    Brazil                                       Spain                Mexico
                                                    Chile




                                                                                                                                   15
Human Resources

    OHL Concesiones SL, business                        Staff 2008: 5,313 people
    chairmanship, takes on the following
    functions:                                         6000                              60
•   Analysis and management of business                4000
                                                                        47
    developments and tendering or acquisition                                          5,253
                                                       2000
    processes.                                                         2,859

                                                         0
•   Financing and optimization of the concessions                      2007             2008
                                                                               5.253
    financial structure.                                 0
                                                       OHL Concesiones, S.L. Sociedades concesionarias
                                                                              Concession Companies
                                                        OHL Concesiones S.L.
•   Control and supervision of concessions in
    operation.
                                                        Geographical Breakdown 2008
    Local organizations take on the
    following functions:                                                                       Argentina
                                                                         1% 8%
                                                                 10%
• Identification of investment opportunities and            7%                                 Brazil
                                                          6%
    cooperation in the preparation of tendering                                                Chile
    processes and in the negotiations to acquire                                               Spain
    concessions.                                                                               Mexico
                                                                                 68%           Head Office
• Management of concessions in operation and in
    construction.

Control of investment process:
New concession tendering and negotiations to acquire new concessions need the approval of both the
Strategy Committee of OHL Concessiones and the Investment Committee of OHL Group.
                                                                                                             16
5. 2008 AND KEY MAGNITUDES
General Environment

• Serious economic and financial world wide crisis.
• Lesser impact in South America.
                                   Variation in real GNP
                                2008     2009 (E) 2010 (E)
                  USA           1.1%       -1.2%      1.5%
                    EU          0.7%       -2.5%      0.2%
                 SPAIN          1.2%       -2.8%      0.3%
                BRAZIL          5.1%       -0.3%      3.5%
                MEXICO          1.4%       -1.8%      1.1%
                 CHILE          3.4%       0.5%       2.3%
                 PERU           9.8%       4.2%       4.8%
              Source: BBVA study services, February 2009 and Focus Report from
              Brazil’s Central Bank.



• Concessions Business: Relatively good performance.
     Growth in revenues:
 •
        •Traffic resistance.
        •Tolls indexed to inflation.

     Availability of financial resources, although with negative impacts:
 •
         • Financial entities still maintain their appetite.
         • Developments public bank support.
         • Increase in bank spreads, term reduction and decrease in leverage levels.

     Increase in business opportunities:
 •
         • Lesser competition.
         • More government interests.


                                                                                       18
2008 Highlights (I)

•         Good performance of Revenues and EBITDA with homogeneous growths of
          34.2% y 25.2%
            Revenues performance 2007-2008 € Mn                           EBITDA performance 2007-2008 € Mn
                                                                                                     358
                                                             400
                                       542                                          286
    600                                                             Var. +25.2%
                          404                                300
            Var. +34.2%
    400
                                                             200

    200
                                                             100


      0                                                        0
                          2007         2008                                         2007             2008

                                                                                            € Mn      2007     2008
                                        € Mn 2007 2008
                                                                                           EBITDA       317     340
                                   Revenues     436    542
                                                                                     FUMISA sale        (31)      -
                                FUMISA sale     (32)     -
                                                                          Eje Aeropuerto Provision         -     18
                     Eje Aeropuerto Provision      -     -
                                                                           Homogeneous EBITDA           286     358
                    Homogeneous Revenues        404    542


•         Despite the negative impact of the exchange rates performance.
                       Average exchange rate performance versus the Euro 08/07
                                                        Devaluation
                                    Currency
                                  Argentinean Peso                 8.6%
                                      Chilean Peso                 6.8%
                                     Mexican Peso                  8.5%
                                     Brazilian Real                 0%

                                                                                                                      19
2008 Highlights (II)

Backlog Growth with:
 • Two concessions in Mexico: Libramiento Norte of Puebla with 32 km, in March of
   2008 and the Bicentenario Viaduct with 32 km, in May of 2008.

 • One concession in Peru: Autopista del Norte with 356 km in February of 2009.


In the financial field: Achieved the goals established.
 • Mexico: In November of 2008, first refinancing of Conmex (from 3.3 to 6.0 billion
   Pesos) to obtain the funding for the initial investments of phase II and III (BBVA-
   Bancomer, Banobras and Banorte).

 • Brazil: In June of 2008, refinancing of Autovias, Centrovias and Intervias up to 670
   million Reais to fund initial investments of the federal concessions (Santander,
   Bradesco and Banco do Brasil).

 • Spain: In June 2008 closing of the financing of the Aragón highway - tranche 1 for
   a total amount of 116.5 million Euros (BEI, ICO and DEPFA Bank).




                                                                                          20
2008 Highlights (III)

Operations:
 • In June 2008 , beginning of operation of sector 2 of the Los Andes highway, of 38.5 km, which
   joins the cities of La Calera and Valparaiso.

  • Completion of the operation of Amozoc – Perote in Mexico, since November of 2008.

  • Federal highways in Brazil: After the signing of the contracts in February 2008, initiation of the
    works begun and service and conservation started in August of 2008. Construction of the toll
    booths and gradual collection of tolls since 28th of December 2008 (at the present moment 22 of
    the 29 booths are open).

  • In December 2008 works where finalized and the operation of the Alicante Port begun.


Contractual Aspects:
  • In June 2008 the demand for the economical and financial upright of the Eje Aeropuerto
    concession contract was presented.

  • In January 2009 the Argentinean government announced a raise in AECSA´s light vehicle toll,
    which will permit an increase in income of approximately 90%, as per the upright process of the
    contract. This toll increase is in its final phase of implementation.




                                                                                                         21
2008 Highlights (IV)

Disposals:

      • Sale of 50% of FUMISA in February of 2008, with a net profit of 25.3 million Euros:

               Mature concession (5 pending years)
             •
             • Complicated re-negotiation process.



Investments:

     • The concession companies have invested a total of 810 million Euros.


                                  € Mn
                   Argentina         4
                      Brazil       324
                       Chile        59
                      Spain        143
                     Mexico        280
                     TOTAL         810




                                                                                              22
2008 Traffic and Toll Performance

                                                                                           Good traffic performance in Latin America:
   2007/2008 Traffic and Toll Performance
                                                                                             Growths of more than 4% in mature
                Company         Traffic                                          Toll
                                                                                             concessions in Brazil, Chile and Argentina.
                   Aecsa (1)     -0.6%                                         15.1%
                                                                                             Strong growths in concessions in initial phase:
                Autovias (1)    30.8%                                          11.5%
                                                                                             Amozoc-Perote 26.3% and Oeste Light Rail
              Centrovias (1)      7.0%                                         11.5%
                                                                                             42.5% (passengers).
                Intervias (1)     4.0%                                         11.5%         Growth in Autovias due to the opening of a
                Vianorte (1)      6.8%                                         11.5%         new toll booth on July 2007, which has
                                                                                             captured more traffic in comparison to the
        Autopista del Sol (1)     8.5%                                          6.1%
                                                                                             previous year. (Revenues +22% and EBITDA
     A. Los Libertadores (1)      5.7%                                          7.1%
                                                                                             +26%).
         A. Los Andes (1) (5)     NA                                            NA
                                                                                             Excellent traffic performance in Conmex, with
                      M-45 (2) (4)                    -6.9%                      4.2%        a 17% increase.
              Eje Aeropuerto (1)                      -6.9%                      2.9%        Beginning of operations in the west tranche of
             Oeste Light Rail (3)                     42.5%                      4.1%        los Andes highway (June 2008), and full
                                                                                             operation of the Amozoc- Perote (November
             Amozoc- Perote (1)                       26.3%                      3.8%
                                                                                             2008).
                    Conmex (1)                        17.0%                      3.8%
(1) Nº of vehicles (Annual Average Daily Traffic)
(2) Nº of vehicles (Average Daily Intensity)
(3) Average daily passengers
(4) Decrease in traffic does not affect revenues, since traffic is way above the maximum
established as collection basis by the Comunidad de Madrid (shadow toll). The actual
traffic is 22% above the maximum established by the Comunidad de Madrid.
(5) Beginning of operations of the west tranche in June 2008.




                                                                                                                                               23
Revenues and EBITDA Detail
 COUNTRY:                                             Revenues Mn €                                      EBITDA Mn €                         EBITDA/Revenues Margin
                  Company                             2008          2007    Var.%                     2008            2007        Var.%                   2008                 2007
                      Aecsa                           11.3            10.7   5.6%                      0.6             2.8       -78.6%                   5.3%                26.2%
              ARGENTINA                               11.3            10.7   5.6%                      0.6             2.8       -78.6%                   5.3%                26.2%
                   Autovias                           68.9            56.4 22.2%                      51.3            40.7        26.0%                  74.5%                72.2%
                 Centrovias                           63.9            52.7 21.3%                      48.7            36.8        32.3%                  76.2%                69.8%
                   Intervias                          77.9            69.2 12.6%                      57.6            49.2        17.1%                  73.9%                71.1%
                   Vianorte                           61.8            53.7 15.1%                      47.1            38.8        21.4%                  76.2%                72.3%
                   BRAZIL                            272.5           232.0 17.5%                     204.7           165.5        23.7%                  75.1%                71.3%
                                                                                                                                                                   (3)
                                                                                                                                                                              78.1% (3)
           Autopista del Sol                          31.5            29.1   8.2%                     19.2            17.3        11.0%                  78.1%
 Autopista Los Libertadores                           16.6            15.4   7.8%                     12.3            11.6         6.0%                  74.1%                75.3%
      Autopista Los Andes                              3.5               -    n.a.                     1.9               -          n.a.                 54.3%                  n.a.
                     CHILE                            51.6            44.5 16.0%                      33.4            28.9        15.6%                  75.2%                77.1%
            Euroglosa M-45                            11.1            10.4   6.7%                     10.1             9.4         7.4%                  91.0%                90.4%
                                                                                                               (4)                                                 (4)
   Autopista Eje Aeropuerto                            5.5             5.7 -3.5%                     -16.8             2.2          n.a.                 21.8%                38.6%
            Oeste Light Rail                          27.2            12.3 121.1%                      7.5             4.8        56.3%                  27.6%                39.0%
                     SPAIN                            43.8            28.4 54.2%                       0.8            16.4       -95.1%                  42.9%                57.8%
                    Fumisa                             0.0            32.5    n.a.                     0.0            30.8          n.a.                                      94.8%
            Amozoc-Perote                             26.3             32.8 -19.8%                    12.1            24.1       -49.8%                  46.0%                73.5%
                   Conmex                             53.2             49.2   8.1%                    46.0            42.5         8.2%                  86.5%                86.4%
 Rentabilidad garantizada (1)                                                                                         24.9       141.4%
                                                       0.0              0.0       -                   60.1                                                 n.a.                 n.a.
                                                                                                                                                                   (2)
                                                                                                                                                                              81.2% (2)
                   MEXICO                             79.5            114.5 -30.6%                   118.2           122.3        -3.4%                  73.1%
        TOTAL CONCESSIONS                            458.7            430.1   6.6%                   357.7           335.9         6.5%                  68.8%                70.4%
      Central Offices and Others                        83.7              5.4         n.a.            -17.8          -18.9         -5.8%
                         TOTAL                       542.4            435.5       24.5%              339.9           317.0          7.2%
(1) Classified in other operating revenues, and not included in the consolidated figures; (2) EBITDA/Revenues not including the guaranteed profitability of CONMEX and in 2007 without
FUMISA; (3) % EBITDA/Revenues eliminating the canon to the Government expense of 5.4 € Mn/year; (4) the EBITDA includes an 18 € Mn provision for fixed assets impairment.

                                                                                                                                                                                         24
Long Term Orderbook

   Long Term Orderbook Performance € Mn                                                              Orderbook Geographical Breakdown

                                                                                  51,490                             2% 2%                         Argentina
54000
                                                                        46,175                                                                     Brazil
                                                                                                    35%
48000                               C. A.G.R. + 48.7%                                                                                       40%
                                                                                                                                                   Chile
42000
                                                                                                                                                   Spain
36000
                                                                                                                                                   Mexico
30000
                                                             23,856                                           13%              8%                  Peru
24000
                                                   16,744
18000
                               8,517 10,035
12000
                                                                                                     Orderbook Business Breakdown
         3,208 4,566
 6000
     0
                                                                                                                        1%
                                                                                                                9%
                                                                          2007 (1) 2008 (2)
           2001      2002       2003       2004      2005       2006
                                                                                                                                                   Highways
(1) Includes the orderbook of 5 federal highways in Brazil, signed in February 2008. Does not
    include Fumisa which was sold in March 2008, nor the Libramiento de Puebla signed in March
                                                                                                                                                   Railways
    2008.
                                                                                                                                                   Ports
(2) Includes the orderbook of Autopista del Norte, signed in February 2009.


                                                                                                                                90%
    Orderbook as of 31/12/07                                           46,175
    + Libramiento Norte de Puebla                                          434
                                                                                                     2008 Pro-forma* Orderbook: 51.5 € Bn
    + Elevated Viaduct Bicentenario                                     5,862
    + Autopista del Norte (Peru)                                        1,065
                                                                                                 *According to subsidiaries consolidation method
    + Orderbook variation (by exchange
                                                                       -2,046
      rate fluctuations and others)
    Pro-forma+ Orderbook as of 31/12/08                                51,490


                                                                                                                                                               25
Main concessions Key Data I (€ Mn)
                                                                                                            Total        OHL Investment Average Daily
                              Toll Roads          Country                   Stage             Km                  % OHL
                                                                                                                                            Traffic (1)
                                                                                                      Investment                  Value
                                     Aecsa Argentina                   Operation                60            93     71%            85.7     214,720
                    Total Argentina                                                            60                  93                                    85.7
                                                      Brazil           Operation              316                 320          60%                                        103,786
                                Autovias
                               Centrovias             Brazil           Operation              218                 278          60%                                         60,727
                         Intervias                    Brazil         Operation                376                501           60%                                        141,576
                         Vianorte                     Brazil         Operation                237                247           60%                                         79,582
                                                                                                                                                       101.4
    Rio de Janeiro-Espirito Santo                     Brazil      Pre-operation               320                615           60%                                            NA
       São Paulo-Belo Horizonte                       Brazil      Pre-operation               562                816           60%                                            NA
                                                      Brazil      Pre-operation               402              1,082           60%                                            NA
              São Paulo-Curitiba
             Curitiba-Florianópolis                   Brazil      Pre-operation               382                 758          60%                                             NA
                                                      Brazil      Pre-operation               413                 461          60%
       Curitiba-Rio Grande do Sul
                           Total Brazil                                                   3,226               5,078                                    101.4
                 Autopista del Sol                     Chile           Operation              132                 152         75%                        26.7              71,201
       Autopista Los Libertadores                      Chile           Operation              119                 154         75%                        13.7              36,206
                                                                                                                                                                         13,786 (3)
             Autopista Los Andes                       Chile           Operation               92                 276        100%                        37.5
                            Total Chile                                                      343                 582                                     77.9
                    Autovía M-45                      Spain          Operation                   8                116        100%                                          77,303
                                                                                                                                                         0.1
                  Autopista M 12                      Spain          Operation                   9                427        100%                                          10,575
                                                                                                                                                       154.3
      Autovía de Aragón-Tramo 1                       Spain       Pre-operation                 56                233         95%                                             NA
                                                                                                                                                        10.6
                           Total Spain                                                         73                776                                   165.0
                Conmex (Fase I)                     Mexico           Operation                 52                             87%                                         119,673
                                                                                                               1,544                                   228.9
             Conmex (II, III y IV)                  Mexico         Construction               103                            100%                                             NA
                 Amozoc-Perote                      Mexico           Operation                123                179          55%                        48.2              18,911
     Libramiento Norte de Puebla                    Mexico         Construction                32                134         100%                         0.7                 NA
           Viaducto Bicentenario                    Mexico         Construction                32              1,188         100%                        63.2                 NA
                         Total Mexico                                                        342              3,045                                    341.0
                                            (2)
               Autopista del Norte                     Peru       Pre-operation               356                 203        100%                                              NA
                         Total Peru                                                         356                 203                                        -
                   Total Toll Roads                                                       4,400               9,777           77%                      771.0

(1) Traffic figure corresponding to equivalent vehicles paying with the exception of M45 that shows the average daily intensity (ADI); (2) Contract signed in February
2009; (3) Traffic corresponding to west sector, began operations in June 2008.


                                                                                                                                                                                      26
Main Concessions Key Data II (€ Mn)

                                                   Operated              Total           OHL Investment Passengers /
               Others Country            Stage                                   % OHL
                                                   Facilities      Investment                     Value        Year
                                                     22 Km.
                                     Operation                                                              6.9 million
    Metro Ligero Oeste      Spain                                          937    51%               63.4
                                                     2 Lines

  Cercanías Móstoles-                                15 Km.
                            Spain   Construction                           424    100%               25            NA
        Navalcarnero                                 1 Line
                                                   30 Ha. Inner
                                                   Harbour
                                     Operation
    Puerto de Alicante      Spain                                          111    50%                9.7      269,946
                                               1,275 m. Berthing
                                                     Line
                                                    Airport,
                                                complementary
                                     Operation                                                              4.1 million
        Toluca (Airport)   Mexico                                          300    33%               52.4
                                               and commercial
                                                   services
                                                                         1,772   60%               150.4
Total Others
TOTAL                                                                   11,549   74%              921.4




                                                                                                                          27
Vi




                                                                                                                                              -20
                                                                                                                                                    -10
                                                                                                                                                                     0
                                                                                                                                                                               10
                                                                                                                                                                                          20
                                                                                                                                                                                                    30
                                                                                                                                                                                                         40
                                                                                                                                                                                                              50
                                                                                                                              an
                                                                                                                                   or
                                                                                                                                       te
                                                                                                                            Au




                                                                                                                                                                          9
                                                                                                                               t o
                                                                                                                       Ce via
                                                                                                                                          s
                                                                                                                           nt




                                                                                                                                                                          10
                                                                                                                               ro




                                                                                                                                                           -11 -10
                                                                                                                                   vi
                                                                                                                                       a
                                                                                                             Ez A.
                                                                                                                ei           de s




                                                                                                                                                                          10
                                                                                                                                 lS
                                                                                                          A. za-
                                                                                                                                       o
                                                                                                              Lo C a
                                                                                                                 s           ñu l




                                                                                                                                                                          10



                                                                                                                                                          -11 -13
                                                                                                                                  e
                                                                                                                                                                                                                                     Duration (years)



                                                                                                                    lib
                                                                                                                        er las
                                                                                                                            ta
                                                                                                                A.




                                                                                                                                                                          12
                                                                                                                               do




                                                                                                                                                      -15
                                                                                                                     Ar
                                                                                                                        ag re s
                                                                                                                             ón




                                                                                                                                                                               17




                                                                                                                                                           -11
                                                                                                                                   T
                                                                                                                          In . 1
                                                                                                                              te
                                                                                                                   E




                                                                                                                                                                     -1
                                                                                                                                                                               18
                                                                                                                                 r
                                                                                                           A. uro via
                                                                                                                                         s
                                                                                                   M
                                                                                                      ós Eje glo




                                                                                                                                                              -8
                                                                                                                                                                               19
                                                                                                                                 sa
                                                                                                          to          Ae
                                                                                                                                       4
                                                                                                            le           ro
                                                                                                               s-
                                                                                                                 N           pu 5
                                                                                                                                                                               19

                                                                                                         R          a

                                                                                                                                                            -10
                                                                                                                                   er
                                                                                                                                       t
                                                                                                 S. . Ja val
                                                                                                                           ca o
                                                                                                                ne
                                                                                                     Pa                                                         -6
                                                                                                                                                                               19




                                                                                                                    i           rn
                                                                                                         ul
                                                                                                            o- ro-E ero
                                                                                                               Be            .S
                                                                                                                                                                     -1
                                                                                                                                                                               19




                                                                                                                   lo            a
                                                                                                                                                                                                                   Years Remaining




                                                                                                                       Ho nto
                                                                                                             S.
                                                                                                                            riz
                                                                                                     Cu Pa
                                                                                                                                                                     -1
                                                                                                                                                                                    24




                                                                                                Cu riti ulo ont
                                                                                                                                       e
                                                                                                             b           -C
                                                                                                   rit
                                                                                                      ib a-F                 ur
                                                                                                                                                                     -1
                                                                                                                                                                                    24




                                                                                                                    lo           iti
                                                                                                         a-
                                                                                                                       r
                                                                                                            R                        ba
                                                                                                              . G ian
                                                                                                                                                                     -1




                                                                                                                              óp
                                                                                                                                                                                    24




                                                                                                         Au ra n
                                                                                                                       de olis
                                                                                                             to
                                                                                                                pi
                                                                                                                                                                     -1
                                                                                                                                                                                    24




                                                                                                                   st do
                                                                                                                      a            Su
                                                                                                                                         l
                                                                                                               Am del
                                                                                                                                                                     -1
                                                                                                                                                                                    24




                                                                                                                    oz No
                                                                                                                                     rt
                                                                                                                                         e
                                                                                                                       oc
                                                                                                                            -
                                                                                                                                                                                    25




                                                                                                                  A. Pe
                                                                                                                       Lo rot
                                                                                                                                        e
                                                                                                                           s
                                                                                                                                                                                                                                                        Main Concessions Portfolio Life




                                                                                                                               A
                             average remaining period of the Portfolio.
                                                                                                                                                                -5
                                                                                                                                                                                    25




                                                                                                                  Al             nd
                                                                                                                      ic
                                                                                                                                       e
                                                                                                                         a
                                                                                                              O
                                                                                                    Li          es nte s
                                                                                                                                                                -6
                                                                                                                                                                                    27




                                                                                                       br
                                                                                                                    te
                                                                                                          am                      Po
                                                                                                Ci                      Li
                                                                                                              ie
                                                                                                   rc                      gh rt
                                                                                                                nt
                                                                                                                                                                -6




                                                                                                      ui
                                                                                                                                                                                    27




                                                                                                                    o
                                                                                                         to                     tR
                                                                                                                                      a
                                                                                                             Ex N.
                                                                                                    Vi                     Pu il
                                                                                                                                                                                                                   Years Passed




                                                                                                                                                                     -2
                                                                                                                                                                                     28




                                                                                                       a d t. M                  eb
                                                                                                           uc         ex              la
                                                                                                                          iq
                                                                                                    Ae to
                                                                                                                  B
                                                                                                                                                                     -1




                                                                                                                              ue
                                                                                                                                                                                     29




                                                                                                        ro                         n
                                                                                                           pu ice
                                                                                                                         nt s e
                                                                                                               er            en
                                                                                                                                                                -6




                                                                                                                  to
                                                                                                                                                                                     29




                                                                                                                                  ar
                                                                                                                      In              io
                                                                                                                         t.
                                                                                                                             To
                                                                                                                                                                     -1
                                                                                                                                                                                     29




                                                                                                                                  lu
     The incorporation of the new concessions in 2008 and 2009 enlarges in a relevant way the




                                                                                                                                     ca
                                                                                                                                                                     -3
                                                                                                                                                                                               47




28
Variation of Net and Gross Fixed Assets
Consolidated Net Fixed Assets Variation (€ Thousand)
                                                                                      Consolidated Gross Fixed Assets
CONTROL %         Concession             OHL %     2008      2007      Difference
                                                                                                   (€ Mn)
                               Aecsa      71%     66,587                  -16,042
                                                            82,629
                                          60%     140,291                  -28,448
                                                            168,739
                             Autovias
                                                                                     Total as of 12/2007               3,124
                                          60%     125,654                  -23,126
                                                            148,780
                           Centrovias
                                          60%     132,528                  -14,126
                                                            146,654
                             Intervias                                                 Investments 2008                  770
                                          60%     125,275                  -25,104
                                                            150,379
                             Vianorte
                                                                                       FUMISA sale                       -138
                 R. Janeiro-E. Santo      60%      36,506                   36,506
                                                                -
               S. Paulo-B. Horizonte      60%      67,067                   67,067
                                                                -                      Exchange Rate diferences          -327
                                          60%      75,698                   75,698
                     S. Paulo-Curitiba                          -
                                                                                     Total as of 12/2008               3,429
               Curitiba-Florianópolis     60%      41,639                   41,639
                                                                -
                                          60%      31,012                   31,012
              Curitiba-R. Gde. do Sul                           -
  Global                                  75%      86,733                  -18,017
                                                            104,750
                           A. del Sol
                                                                                      Considering the canon paid for the
                 A. Los Libertadores      75%      88,550                  -21,820
                                                            110,370
Integration
                                                                                      award of the concession Viaducto
                       A. Los Andes      100%     207,708                   19,789
                                                            187,919
                                                                                      Bicentenario (Intangible Fixed
                                M45      100%      80,151                   -2,531
                                                             82,682
                                                                                      Assets), the total gross investment for
              A. Eje Aeropuerto M12      100%     298,685                  -21,224
                                                            319,909
                                                                                      the year 2008 committed by the
              Autovía de Aragón-T. 1      95%      26,113    1,074          25,039
                                                                                      concessions amounts to 810 million
                  Metro Ligero Oeste      51%     559,215                   46,657
                                                            512,558
                                                                                      Euros.
              Móstoles Navalcarnero      100%      39,104                   39,104
                                                                -
                            Conmex        87%     488,830                 132,162
                                                            356,668
                     Amozoc-Perote        55%     162,780                    5,437
                                                            157,343
                 Libramiento Puebla      100%      3,261                     3,261
                                                                -
               Viaducto Bicentenario     100%     13,174                    13,174
                                                               -
                             Fumisa       50%                              -60,078
                                                            60,078
Percentage
                   Puerto de Alicante     50%     47,547                   12,656
                                                             34,891
Integration
  OTHER                        Others             46,167                   18,316
                                                             27,851
  TOTAL                                          2,990,275 2,653,274     337,001

                                                                                                                                29
Financial Debt Variation (Non-Recourse to OHL)
 Financial Debt Variation (€ Thousand)
                                                                              Consolidated Cash and
                                            Consolidated Gross Debt                                          Consolidated Net Debt
                                                                                   Equivalent
               Concessionaire
% CONTROL
                                             2008        2007 Difference       2008     2007 Difference       2008        2007 Difference
                                            20,708                 -3,216    260                   -398      20,448                  -2,818
                                                        23,924                            658                            23,266
                                Aecsa
                                            94,862                 27,677    4,599                 -330     90,263                 28,007
                                                        67,185                          4,929                            62,256
                             Autovias
                                            83,952                 59,492    5,895                3,587     78,057                 55,905
                                                        24,460                          2,308                            22,152
                           Centrovias
                                           110,302                 45,198    7,734                  885    102,568                 44,313
                                                        65,104                          6,849                            58,255
                             Intervias
                                            26,189                -11,321    4,813                2,144     21,376                -13,465
                                                        37,510                          2,669                            34,841
                             Vianorte
                                                                              795
                                               709
                 R. Janeiro-E. Santo                                  709                           795        -86                    -86
                                                                             3,017
                                             1,929
               S. Paulo-B. Horizonte                                1,929                         3,017     -1,088                 -1,088
                                                                             1,631
                                             1,011                  1,011                         1,631       -620                   -620
                     S. Paulo-Curitiba
                                                                             1,513
                                                22
               Curitiba-Florianópolis                                  22                         1,513                            -1,491
                                                                                                            -1,491
                                                                             2,116                2,116     -2,116                 -2,116
              Curitiba-R. Gde. do Sul
  Global
                                                                            50,716
                                           126,060                -14,650                        -8,019     75,344                 -6,631
                                                       140,710                         58,735                           81,975
                           A. del Sol
Integration
                                                                            15,375
                                           104,686                -15,204                        -4,618     89,311                -10,586
                                                       119,890                         19,993                           99,897
                 A. Los Libertadores
                                                                            122,752
                                           217,725                 61,291                       104,102
                                                       156,434                         18,650               94,973                -42,811
                                                                                                                       137,784
                       A. Los Andes
                                                                              715
                                            75,680                 -1,017                        -1,514     74,965                    497
                                                        76,697                          2,229                           74,468
                       Autovía M-45
                                                                            16,686                 -629    221,316                   -535
                                           238,002     239,166                         17,315
                                                                   -1,164                                              221,851
                      Autopista M 12
                                             8,761                  8,761     375                -9,339      8,386                 18,100
                                                                                        9,714                           -9,714
              Autovía de Aragón-T. 1
                                                                            38,441
                                           520,626                 72,713                        28,706    482,185                 44,007
                                                       447,913                          9,735                          438,178
                  Metro Ligero Oeste
                                                                             5,388                5,281     -5,388                 -5,281
                                                                                          107                             -107
              Móstoles Navalcarnero
                                           301,711                97,699    39,413               10,173    262,298                 87,526
                                                       204,012                         29,240                          174,772
                            Conmex
                                                                             6,198                2,862     -6,198                 -2,862
                                                                                        3,336                           -3,336
                     Amozoc-Perote
                                                                               23                    23        -23                    -23
                 Libramiento Puebla
                                                                               56                    56        -56                    -56
               Viaducto Bicentenario
                                                                  -66,970                       -20,824                           -46,146
                                                        66,970                         20,824                           46,146
Percentage                   Fumisa
Integration                                 44,613                           1,318
                                                                   15,301                           835     43,295                 14,466
                                                        29,312                            483                           28,829
                  Puerto de Alicante
                                           185,232                          13,269
                                                                  -67,093                        -2,536    171,963                -64,557
                                                       252,325                         15,805                          236,520
  Others                        Otros
                                                                            343,098   223,579   119,519   1,819,682   1,728,033    91,649
  TOTAL                                  2,162,780   1,951,612   211,168

                                                                                                                                              30
6. NEW CONCESSIONS
Viaducto Bicentenario

                                                               Viaducto Bicentenario
 Viaducto Bicentenario, S.A. de C.V.

OHL Concesiones Stake            100 %

Client                           Government of Mexico

Concession Period                May 2008
                                 May 2038

Total Investment                 1.2 billion Euros

Length                           32 km

Toll Booths                      20




• Viaduct over the Mexico-Queretaro highway, one
  of the most congested in the country with an
  average daily traffic of 300,000 vehicles.

• It is estimated that the Viaduct will capture 10% of traffic in its first phase, but as the highway gradually
  enters into operation, the traffic will be incremented significantly.

• The toll fee is adjusted annually by the inflation (INPC), or in any period in which the index rises
  above 5%.
• Structured in three phases with a similar investment for each phase. The second and third phases will
  begin when a certain level of traffic is achieved in phases one and two respectively.



                                                                                                                  32
Viaducto Bicentenario
1.   Phase 1: Reversible three lane viaduct of 22 km of length between the border of the State of
     Mexico with the Federal District in “el Toreo” until the conexion of the Circuito Exterior
     Mexiquense with the Mexico-Queretaro highway.

     •    The first tranche of this phase is of 4.3 km in length, should begin operations this year.

2. Phase 2: Three lane viaduct of 22 km parallel to the viaduct of Phase 1. With the construction of
   this second viaduct the first viaduct ceases to be reversible.

     •    Beginning of construction is estimated for the year 2016, once it has reached a level of
          traffic of 50,000 vehicles.

3. Phase 3: 10 km prolongation of both viaducts towards the north, giving the concession a total of 32
   km in length.

     •    Construction is estimated to begin in the year 2027 once it has reached a level of traffic of
          180,000 vehicles per day.

 • The project is integrated inside Valle de México metropolitan zone highway system, with
   connections to the Distrito Federal and Circuito Exterior Mexiquense’s future viaduct.

 • The collection system is automatic with a barrier control at the entrance and is charged by
   actual km use.

 • The vehicle identification system at the exit of the viaduct is done by a new portal frame
   developed jointly by OHL Concesiones and Indra .



                                                                                                          33
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure
OHL Concesiones Presentation: Growth and Investment in Infrastructure

Weitere ähnliche Inhalte

Was ist angesagt?

Treasury minister's presentation to Chamber of Commerce 27 june 2012
Treasury minister's presentation to Chamber of Commerce 27 june 2012Treasury minister's presentation to Chamber of Commerce 27 june 2012
Treasury minister's presentation to Chamber of Commerce 27 june 2012States of Jersey
 
metlife Investor Day 2008 International
metlife Investor Day 2008 Internationalmetlife Investor Day 2008 International
metlife Investor Day 2008 Internationalfinance5
 
celanese investor_fact_sheet
celanese investor_fact_sheetcelanese investor_fact_sheet
celanese investor_fact_sheetfinance44
 
Honeywell Gabelli & Company 12th Annual Aircraft Supplier Symposium Presentation
Honeywell Gabelli & Company 12th Annual Aircraft Supplier Symposium PresentationHoneywell Gabelli & Company 12th Annual Aircraft Supplier Symposium Presentation
Honeywell Gabelli & Company 12th Annual Aircraft Supplier Symposium Presentationfinance8
 
Mmx março 2013 - ingles vfinal
Mmx   março 2013 - ingles vfinalMmx   março 2013 - ingles vfinal
Mmx março 2013 - ingles vfinalmmxriweb
 
Mmx março 2013 - ingles v3
Mmx   março 2013 - ingles v3Mmx   março 2013 - ingles v3
Mmx março 2013 - ingles v3mmxriweb
 
Burberry interims 071112_print_final
Burberry interims 071112_print_finalBurberry interims 071112_print_final
Burberry interims 071112_print_final柴 娃娃
 
Results Presentation 2012 | Resultados Financieros 2012
Results Presentation 2012 | Resultados Financieros 2012Results Presentation 2012 | Resultados Financieros 2012
Results Presentation 2012 | Resultados Financieros 2012Ferrovial
 
ApresentaçãO Resultados 1 T09 Eng Final
ApresentaçãO Resultados 1 T09 Eng FinalApresentaçãO Resultados 1 T09 Eng Final
ApresentaçãO Resultados 1 T09 Eng Finalguestdf58562
 
Color Group AS annual report 2011
Color Group AS annual report 2011Color Group AS annual report 2011
Color Group AS annual report 2011Color Line
 
Latvia Looking Ahead - the Remaining Challenges
Latvia Looking Ahead - the Remaining Challenges Latvia Looking Ahead - the Remaining Challenges
Latvia Looking Ahead - the Remaining Challenges Latvijas Banka
 
dover JPMorgan_060308
dover JPMorgan_060308dover JPMorgan_060308
dover JPMorgan_060308finance30
 
Chevron Finance
Chevron  FinanceChevron  Finance
Chevron Financefinance1
 
Foraco International 2008 Annual Report
Foraco International 2008 Annual ReportForaco International 2008 Annual Report
Foraco International 2008 Annual ReportTMX Equicom
 
CSX_Corp_-_Citi_Conf_11.14.06-REF23362
CSX_Corp_-_Citi_Conf_11.14.06-REF23362CSX_Corp_-_Citi_Conf_11.14.06-REF23362
CSX_Corp_-_Citi_Conf_11.14.06-REF23362finance27
 

Was ist angesagt? (19)

Treasury minister's presentation to Chamber of Commerce 27 june 2012
Treasury minister's presentation to Chamber of Commerce 27 june 2012Treasury minister's presentation to Chamber of Commerce 27 june 2012
Treasury minister's presentation to Chamber of Commerce 27 june 2012
 
metlife Investor Day 2008 International
metlife Investor Day 2008 Internationalmetlife Investor Day 2008 International
metlife Investor Day 2008 International
 
celanese investor_fact_sheet
celanese investor_fact_sheetcelanese investor_fact_sheet
celanese investor_fact_sheet
 
Honeywell Gabelli & Company 12th Annual Aircraft Supplier Symposium Presentation
Honeywell Gabelli & Company 12th Annual Aircraft Supplier Symposium PresentationHoneywell Gabelli & Company 12th Annual Aircraft Supplier Symposium Presentation
Honeywell Gabelli & Company 12th Annual Aircraft Supplier Symposium Presentation
 
Mmx março 2013 - ingles vfinal
Mmx   março 2013 - ingles vfinalMmx   março 2013 - ingles vfinal
Mmx março 2013 - ingles vfinal
 
Mmx março 2013 - ingles v3
Mmx   março 2013 - ingles v3Mmx   março 2013 - ingles v3
Mmx março 2013 - ingles v3
 
Burberry interims 071112_print_final
Burberry interims 071112_print_finalBurberry interims 071112_print_final
Burberry interims 071112_print_final
 
Results Presentation 2012 | Resultados Financieros 2012
Results Presentation 2012 | Resultados Financieros 2012Results Presentation 2012 | Resultados Financieros 2012
Results Presentation 2012 | Resultados Financieros 2012
 
Apresentação resultados .ing.2010 final
Apresentação resultados .ing.2010 finalApresentação resultados .ing.2010 final
Apresentação resultados .ing.2010 final
 
ApresentaçãO Resultados 1 T09 Eng Final
ApresentaçãO Resultados 1 T09 Eng FinalApresentaçãO Resultados 1 T09 Eng Final
ApresentaçãO Resultados 1 T09 Eng Final
 
Color Group AS annual report 2011
Color Group AS annual report 2011Color Group AS annual report 2011
Color Group AS annual report 2011
 
Besi ip q312 231012
Besi ip q312 231012Besi ip q312 231012
Besi ip q312 231012
 
Besi ip q312 231012
Besi ip q312 231012Besi ip q312 231012
Besi ip q312 231012
 
Latvia Looking Ahead - the Remaining Challenges
Latvia Looking Ahead - the Remaining Challenges Latvia Looking Ahead - the Remaining Challenges
Latvia Looking Ahead - the Remaining Challenges
 
dover JPMorgan_060308
dover JPMorgan_060308dover JPMorgan_060308
dover JPMorgan_060308
 
Chevron Finance
Chevron  FinanceChevron  Finance
Chevron Finance
 
Foraco International 2008 Annual Report
Foraco International 2008 Annual ReportForaco International 2008 Annual Report
Foraco International 2008 Annual Report
 
Full Year Analyst Briefing as at 31 March 2011
Full Year Analyst Briefing as at 31 March 2011Full Year Analyst Briefing as at 31 March 2011
Full Year Analyst Briefing as at 31 March 2011
 
CSX_Corp_-_Citi_Conf_11.14.06-REF23362
CSX_Corp_-_Citi_Conf_11.14.06-REF23362CSX_Corp_-_Citi_Conf_11.14.06-REF23362
CSX_Corp_-_Citi_Conf_11.14.06-REF23362
 

Andere mochten auch

Apresentacao Teleconferencia2 Q06 Eng
Apresentacao Teleconferencia2 Q06 EngApresentacao Teleconferencia2 Q06 Eng
Apresentacao Teleconferencia2 Q06 EngArteris S.A.
 
Indicadores Fundamentales de OHL crecen a doble dígito en el primer trimestre...
Indicadores Fundamentales de OHL crecen a doble dígito en el primer trimestre...Indicadores Fundamentales de OHL crecen a doble dígito en el primer trimestre...
Indicadores Fundamentales de OHL crecen a doble dígito en el primer trimestre...OHL_Mexico
 
Strategy-Update-2020-ENG
Strategy-Update-2020-ENGStrategy-Update-2020-ENG
Strategy-Update-2020-ENGXavier Montaner
 
Saudi Arabia’s Sustainable Construction Limitations: The Experts’ Views
Saudi Arabia’s Sustainable Construction Limitations:  The Experts’ Views Saudi Arabia’s Sustainable Construction Limitations:  The Experts’ Views
Saudi Arabia’s Sustainable Construction Limitations: The Experts’ Views Ibrahim Al-Hudhaif
 
Workshop rapport - First edition
Workshop rapport - First editionWorkshop rapport - First edition
Workshop rapport - First editionTeoriogPraksis
 
Viii Semana MatemáTica Ies Sierra Minera Alumnos
Viii Semana MatemáTica Ies Sierra Minera AlumnosViii Semana MatemáTica Ies Sierra Minera Alumnos
Viii Semana MatemáTica Ies Sierra Minera AlumnosDe Mates Na
 
Companies
CompaniesCompanies
Companiesecsrdl
 
Lasiru Rukshan Willaracchchi CV
Lasiru Rukshan Willaracchchi CVLasiru Rukshan Willaracchchi CV
Lasiru Rukshan Willaracchchi CVlrwillarachchi
 
Luncheon 2015-11-19 - Lessons Learned from Avid Life Media by Rob Davis
Luncheon 2015-11-19 - Lessons Learned from Avid Life Media by Rob DavisLuncheon 2015-11-19 - Lessons Learned from Avid Life Media by Rob Davis
Luncheon 2015-11-19 - Lessons Learned from Avid Life Media by Rob DavisNorth Texas Chapter of the ISSA
 
مركز الدراسات الاندلسية بتلمسان Centre d'études andalouses de tlemcen
 مركز الدراسات الاندلسية بتلمسان Centre d'études andalouses de tlemcen مركز الدراسات الاندلسية بتلمسان Centre d'études andalouses de tlemcen
مركز الدراسات الاندلسية بتلمسان Centre d'études andalouses de tlemcenAbdelkader Benhaddou
 
Mayli Sepulveda Acceso A La Informacion Para La Incidencia Publica
Mayli Sepulveda   Acceso A La Informacion Para La Incidencia PublicaMayli Sepulveda   Acceso A La Informacion Para La Incidencia Publica
Mayli Sepulveda Acceso A La Informacion Para La Incidencia PublicaMarco Giuseppe Gomero
 
Protagonistas II Guerra Mundial
Protagonistas II Guerra MundialProtagonistas II Guerra Mundial
Protagonistas II Guerra MundialJeanpado7
 
Poveste De Succes.
Poveste De Succes.Poveste De Succes.
Poveste De Succes.guest7a1d88
 
Brave new world private banking
Brave new world private bankingBrave new world private banking
Brave new world private bankingJuris Cernavskis
 
Salesforce1 Platform - Der schnellste Weg von der Idee zur App
Salesforce1 Platform - Der schnellste Weg von der Idee zur AppSalesforce1 Platform - Der schnellste Weg von der Idee zur App
Salesforce1 Platform - Der schnellste Weg von der Idee zur AppSalesforce Deutschland
 

Andere mochten auch (20)

GTC
GTCGTC
GTC
 
Apresentacao Teleconferencia2 Q06 Eng
Apresentacao Teleconferencia2 Q06 EngApresentacao Teleconferencia2 Q06 Eng
Apresentacao Teleconferencia2 Q06 Eng
 
Indicadores Fundamentales de OHL crecen a doble dígito en el primer trimestre...
Indicadores Fundamentales de OHL crecen a doble dígito en el primer trimestre...Indicadores Fundamentales de OHL crecen a doble dígito en el primer trimestre...
Indicadores Fundamentales de OHL crecen a doble dígito en el primer trimestre...
 
Strategy-Update-2020-ENG
Strategy-Update-2020-ENGStrategy-Update-2020-ENG
Strategy-Update-2020-ENG
 
9 m11 results
9 m11 results9 m11 results
9 m11 results
 
Saudi Arabia’s Sustainable Construction Limitations: The Experts’ Views
Saudi Arabia’s Sustainable Construction Limitations:  The Experts’ Views Saudi Arabia’s Sustainable Construction Limitations:  The Experts’ Views
Saudi Arabia’s Sustainable Construction Limitations: The Experts’ Views
 
Workshop rapport - First edition
Workshop rapport - First editionWorkshop rapport - First edition
Workshop rapport - First edition
 
Viii Semana MatemáTica Ies Sierra Minera Alumnos
Viii Semana MatemáTica Ies Sierra Minera AlumnosViii Semana MatemáTica Ies Sierra Minera Alumnos
Viii Semana MatemáTica Ies Sierra Minera Alumnos
 
Te lo cuento octubre 2011
Te lo cuento octubre 2011Te lo cuento octubre 2011
Te lo cuento octubre 2011
 
Companies
CompaniesCompanies
Companies
 
EL FUJIYAMA
EL FUJIYAMAEL FUJIYAMA
EL FUJIYAMA
 
Lasiru Rukshan Willaracchchi CV
Lasiru Rukshan Willaracchchi CVLasiru Rukshan Willaracchchi CV
Lasiru Rukshan Willaracchchi CV
 
Luncheon 2015-11-19 - Lessons Learned from Avid Life Media by Rob Davis
Luncheon 2015-11-19 - Lessons Learned from Avid Life Media by Rob DavisLuncheon 2015-11-19 - Lessons Learned from Avid Life Media by Rob Davis
Luncheon 2015-11-19 - Lessons Learned from Avid Life Media by Rob Davis
 
مركز الدراسات الاندلسية بتلمسان Centre d'études andalouses de tlemcen
 مركز الدراسات الاندلسية بتلمسان Centre d'études andalouses de tlemcen مركز الدراسات الاندلسية بتلمسان Centre d'études andalouses de tlemcen
مركز الدراسات الاندلسية بتلمسان Centre d'études andalouses de tlemcen
 
Mayli Sepulveda Acceso A La Informacion Para La Incidencia Publica
Mayli Sepulveda   Acceso A La Informacion Para La Incidencia PublicaMayli Sepulveda   Acceso A La Informacion Para La Incidencia Publica
Mayli Sepulveda Acceso A La Informacion Para La Incidencia Publica
 
Protagonistas II Guerra Mundial
Protagonistas II Guerra MundialProtagonistas II Guerra Mundial
Protagonistas II Guerra Mundial
 
Poveste De Succes.
Poveste De Succes.Poveste De Succes.
Poveste De Succes.
 
Brave new world private banking
Brave new world private bankingBrave new world private banking
Brave new world private banking
 
Regresion
RegresionRegresion
Regresion
 
Salesforce1 Platform - Der schnellste Weg von der Idee zur App
Salesforce1 Platform - Der schnellste Weg von der Idee zur AppSalesforce1 Platform - Der schnellste Weg von der Idee zur App
Salesforce1 Platform - Der schnellste Weg von der Idee zur App
 

Ähnlich wie OHL Concesiones Presentation: Growth and Investment in Infrastructure

Apres Call Federais Final Ingles
Apres Call Federais Final InglesApres Call Federais Final Ingles
Apres Call Federais Final InglesArteris S.A.
 
eBay Q2-2007 Earnings Slides
eBay  Q2-2007 Earnings SlideseBay  Q2-2007 Earnings Slides
eBay Q2-2007 Earnings SlidesPhil Wolff
 
Apimec Resultados 1 T06(Ingles)
Apimec Resultados 1 T06(Ingles)Apimec Resultados 1 T06(Ingles)
Apimec Resultados 1 T06(Ingles)Arteris S.A.
 
quest diagnostics Quest2005_AR
quest diagnostics Quest2005_ARquest diagnostics Quest2005_AR
quest diagnostics Quest2005_ARfinance34
 
ppl annual reports 2006
ppl annual reports 2006ppl annual reports 2006
ppl annual reports 2006finance32
 
Q1 2009 Earning Report of Oceaneering International, Inc.
Q1 2009 Earning Report of Oceaneering International, Inc.Q1 2009 Earning Report of Oceaneering International, Inc.
Q1 2009 Earning Report of Oceaneering International, Inc.earningreport earningreport
 
Non-Deal Roadshow'
Non-Deal Roadshow'Non-Deal Roadshow'
Non-Deal Roadshow'CPFL RI
 
Cibc whistler conference (website) jan 2013
Cibc whistler conference (website)   jan 2013Cibc whistler conference (website)   jan 2013
Cibc whistler conference (website) jan 2013RoyalGold
 
Bmo feb 2013 v001-s05m46
Bmo   feb 2013 v001-s05m46Bmo   feb 2013 v001-s05m46
Bmo feb 2013 v001-s05m46RoyalGold
 
liberty global Q1-2008-Pres_Final
liberty global Q1-2008-Pres_Finalliberty global Q1-2008-Pres_Final
liberty global Q1-2008-Pres_Finalfinance43
 
liberty global Q1-2008-Pres_Final
liberty global Q1-2008-Pres_Finalliberty global Q1-2008-Pres_Final
liberty global Q1-2008-Pres_Finalfinance43
 
goodrich CSFB_11.08
goodrich  CSFB_11.08goodrich  CSFB_11.08
goodrich CSFB_11.08finance44
 
goodrich CSFB_11.08
goodrich  CSFB_11.08goodrich  CSFB_11.08
goodrich CSFB_11.08finance44
 
Financial Modeling Case on FMCG Sector
Financial Modeling Case on FMCG SectorFinancial Modeling Case on FMCG Sector
Financial Modeling Case on FMCG SectorPristine Careers
 
Electrolux Interim Report Q1 2012 Presentation
Electrolux Interim Report Q1 2012 PresentationElectrolux Interim Report Q1 2012 Presentation
Electrolux Interim Report Q1 2012 PresentationElectrolux Group
 
federal mogul 9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentation
federal mogul  9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentationfederal mogul  9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentation
federal mogul 9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentationfinance33
 
Chevron 2008 3Q Earnings Conference Call Presentation (color)
Chevron 2008 3Q Earnings Conference Call Presentation (color)Chevron 2008 3Q Earnings Conference Call Presentation (color)
Chevron 2008 3Q Earnings Conference Call Presentation (color)finance1
 
John Tumazos Very Independent Research Metals and Natural Resources Conference
John Tumazos Very Independent Research Metals and Natural Resources ConferenceJohn Tumazos Very Independent Research Metals and Natural Resources Conference
John Tumazos Very Independent Research Metals and Natural Resources ConferenceRoyalGold
 
Simon Henry – Société Générale Premium Conference Paris - November 30, 2011
Simon Henry – Société Générale Premium Conference Paris - November 30, 2011 Simon Henry – Société Générale Premium Conference Paris - November 30, 2011
Simon Henry – Société Générale Premium Conference Paris - November 30, 2011 Shell plc
 

Ähnlich wie OHL Concesiones Presentation: Growth and Investment in Infrastructure (20)

Apres Call Federais Final Ingles
Apres Call Federais Final InglesApres Call Federais Final Ingles
Apres Call Federais Final Ingles
 
eBay Q2-2007 Earnings Slides
eBay  Q2-2007 Earnings SlideseBay  Q2-2007 Earnings Slides
eBay Q2-2007 Earnings Slides
 
Apimec Resultados 1 T06(Ingles)
Apimec Resultados 1 T06(Ingles)Apimec Resultados 1 T06(Ingles)
Apimec Resultados 1 T06(Ingles)
 
quest diagnostics Quest2005_AR
quest diagnostics Quest2005_ARquest diagnostics Quest2005_AR
quest diagnostics Quest2005_AR
 
ppl annual reports 2006
ppl annual reports 2006ppl annual reports 2006
ppl annual reports 2006
 
Q1 2009 Earning Report of Oceaneering International, Inc.
Q1 2009 Earning Report of Oceaneering International, Inc.Q1 2009 Earning Report of Oceaneering International, Inc.
Q1 2009 Earning Report of Oceaneering International, Inc.
 
Non-Deal Roadshow'
Non-Deal Roadshow'Non-Deal Roadshow'
Non-Deal Roadshow'
 
Cibc whistler conference (website) jan 2013
Cibc whistler conference (website)   jan 2013Cibc whistler conference (website)   jan 2013
Cibc whistler conference (website) jan 2013
 
Financial Overview/Capital/Balance Sheet
	Financial Overview/Capital/Balance Sheet	Financial Overview/Capital/Balance Sheet
Financial Overview/Capital/Balance Sheet
 
Bmo feb 2013 v001-s05m46
Bmo   feb 2013 v001-s05m46Bmo   feb 2013 v001-s05m46
Bmo feb 2013 v001-s05m46
 
liberty global Q1-2008-Pres_Final
liberty global Q1-2008-Pres_Finalliberty global Q1-2008-Pres_Final
liberty global Q1-2008-Pres_Final
 
liberty global Q1-2008-Pres_Final
liberty global Q1-2008-Pres_Finalliberty global Q1-2008-Pres_Final
liberty global Q1-2008-Pres_Final
 
goodrich CSFB_11.08
goodrich  CSFB_11.08goodrich  CSFB_11.08
goodrich CSFB_11.08
 
goodrich CSFB_11.08
goodrich  CSFB_11.08goodrich  CSFB_11.08
goodrich CSFB_11.08
 
Financial Modeling Case on FMCG Sector
Financial Modeling Case on FMCG SectorFinancial Modeling Case on FMCG Sector
Financial Modeling Case on FMCG Sector
 
Electrolux Interim Report Q1 2012 Presentation
Electrolux Interim Report Q1 2012 PresentationElectrolux Interim Report Q1 2012 Presentation
Electrolux Interim Report Q1 2012 Presentation
 
federal mogul 9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentation
federal mogul  9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentationfederal mogul  9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentation
federal mogul 9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentation
 
Chevron 2008 3Q Earnings Conference Call Presentation (color)
Chevron 2008 3Q Earnings Conference Call Presentation (color)Chevron 2008 3Q Earnings Conference Call Presentation (color)
Chevron 2008 3Q Earnings Conference Call Presentation (color)
 
John Tumazos Very Independent Research Metals and Natural Resources Conference
John Tumazos Very Independent Research Metals and Natural Resources ConferenceJohn Tumazos Very Independent Research Metals and Natural Resources Conference
John Tumazos Very Independent Research Metals and Natural Resources Conference
 
Simon Henry – Société Générale Premium Conference Paris - November 30, 2011
Simon Henry – Société Générale Premium Conference Paris - November 30, 2011 Simon Henry – Société Générale Premium Conference Paris - November 30, 2011
Simon Henry – Société Générale Premium Conference Paris - November 30, 2011
 

Mehr von Arteris S.A.

Call 2 t14_eng vfinal
Call 2 t14_eng vfinalCall 2 t14_eng vfinal
Call 2 t14_eng vfinalArteris S.A.
 
Call 2 t14_port vfinal
Call 2 t14_port vfinalCall 2 t14_port vfinal
Call 2 t14_port vfinalArteris S.A.
 
Call 1 t14_eng v_final
Call 1 t14_eng v_finalCall 1 t14_eng v_final
Call 1 t14_eng v_finalArteris S.A.
 
Call 1 t14_port v_final
Call 1 t14_port v_finalCall 1 t14_port v_final
Call 1 t14_port v_finalArteris S.A.
 
Apresentação call 1 t13_eng
Apresentação call 1 t13_engApresentação call 1 t13_eng
Apresentação call 1 t13_engArteris S.A.
 
Apresentação call 1 t13_port
Apresentação call 1 t13_portApresentação call 1 t13_port
Apresentação call 1 t13_portArteris S.A.
 
Apresentação 4T12
Apresentação 4T12Apresentação 4T12
Apresentação 4T12Arteris S.A.
 
Apresentação ri arteris ingles dez13
Apresentação ri arteris ingles dez13Apresentação ri arteris ingles dez13
Apresentação ri arteris ingles dez13Arteris S.A.
 
Apresentação ri arteris dez13
Apresentação ri arteris dez13Apresentação ri arteris dez13
Apresentação ri arteris dez13Arteris S.A.
 
Apresentação call 3 t12_port
Apresentação call 3 t12_portApresentação call 3 t12_port
Apresentação call 3 t12_portArteris S.A.
 
Apresentação call 3 t12_eng
Apresentação call 3 t12_engApresentação call 3 t12_eng
Apresentação call 3 t12_engArteris S.A.
 
Apresentação call 2 t12_eng
Apresentação call 2 t12_engApresentação call 2 t12_eng
Apresentação call 2 t12_engArteris S.A.
 
Apresentação call 2 t12_port
Apresentação call 2 t12_portApresentação call 2 t12_port
Apresentação call 2 t12_portArteris S.A.
 

Mehr von Arteris S.A. (20)

Call 2 t14_eng vfinal
Call 2 t14_eng vfinalCall 2 t14_eng vfinal
Call 2 t14_eng vfinal
 
Call 2 t14_port vfinal
Call 2 t14_port vfinalCall 2 t14_port vfinal
Call 2 t14_port vfinal
 
Call 1 t14_eng v_final
Call 1 t14_eng v_finalCall 1 t14_eng v_final
Call 1 t14_eng v_final
 
Call 1 t14_port v_final
Call 1 t14_port v_finalCall 1 t14_port v_final
Call 1 t14_port v_final
 
Call 4 t13_eng
Call 4 t13_engCall 4 t13_eng
Call 4 t13_eng
 
Call 4 t13_port
Call 4 t13_portCall 4 t13_port
Call 4 t13_port
 
Call 3 t13_port
Call 3 t13_portCall 3 t13_port
Call 3 t13_port
 
Call 3 t13_eng
Call 3 t13_engCall 3 t13_eng
Call 3 t13_eng
 
Call 2 t13_eng
Call 2 t13_engCall 2 t13_eng
Call 2 t13_eng
 
Call 2 t13_port
Call 2 t13_portCall 2 t13_port
Call 2 t13_port
 
Apresentação call 1 t13_eng
Apresentação call 1 t13_engApresentação call 1 t13_eng
Apresentação call 1 t13_eng
 
Apresentação call 1 t13_port
Apresentação call 1 t13_portApresentação call 1 t13_port
Apresentação call 1 t13_port
 
4Q12 Presentation
4Q12 Presentation4Q12 Presentation
4Q12 Presentation
 
Apresentação 4T12
Apresentação 4T12Apresentação 4T12
Apresentação 4T12
 
Apresentação ri arteris ingles dez13
Apresentação ri arteris ingles dez13Apresentação ri arteris ingles dez13
Apresentação ri arteris ingles dez13
 
Apresentação ri arteris dez13
Apresentação ri arteris dez13Apresentação ri arteris dez13
Apresentação ri arteris dez13
 
Apresentação call 3 t12_port
Apresentação call 3 t12_portApresentação call 3 t12_port
Apresentação call 3 t12_port
 
Apresentação call 3 t12_eng
Apresentação call 3 t12_engApresentação call 3 t12_eng
Apresentação call 3 t12_eng
 
Apresentação call 2 t12_eng
Apresentação call 2 t12_engApresentação call 2 t12_eng
Apresentação call 2 t12_eng
 
Apresentação call 2 t12_port
Apresentação call 2 t12_portApresentação call 2 t12_port
Apresentação call 2 t12_port
 

Kürzlich hochgeladen

Lundin Gold April 2024 Corporate Presentation v4.pdf
Lundin Gold April 2024 Corporate Presentation v4.pdfLundin Gold April 2024 Corporate Presentation v4.pdf
Lundin Gold April 2024 Corporate Presentation v4.pdfAdnet Communications
 
call girls in Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
call girls in  Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️call girls in  Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
call girls in Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️9953056974 Low Rate Call Girls In Saket, Delhi NCR
 
SBP-Market-Operations and market managment
SBP-Market-Operations and market managmentSBP-Market-Operations and market managment
SBP-Market-Operations and market managmentfactical
 
government_intervention_in_business_ownership[1].pdf
government_intervention_in_business_ownership[1].pdfgovernment_intervention_in_business_ownership[1].pdf
government_intervention_in_business_ownership[1].pdfshaunmashale756
 
(办理学位证)加拿大萨省大学毕业证成绩单原版一比一
(办理学位证)加拿大萨省大学毕业证成绩单原版一比一(办理学位证)加拿大萨省大学毕业证成绩单原版一比一
(办理学位证)加拿大萨省大学毕业证成绩单原版一比一S SDS
 
chapter_2.ppt The labour market definitions and trends
chapter_2.ppt The labour market definitions and trendschapter_2.ppt The labour market definitions and trends
chapter_2.ppt The labour market definitions and trendslemlemtesfaye192
 
The Triple Threat | Article on Global Resession | Harsh Kumar
The Triple Threat | Article on Global Resession | Harsh KumarThe Triple Threat | Article on Global Resession | Harsh Kumar
The Triple Threat | Article on Global Resession | Harsh KumarHarsh Kumar
 
Economic Risk Factor Update: April 2024 [SlideShare]
Economic Risk Factor Update: April 2024 [SlideShare]Economic Risk Factor Update: April 2024 [SlideShare]
Economic Risk Factor Update: April 2024 [SlideShare]Commonwealth
 
原版1:1复刻堪萨斯大学毕业证KU毕业证留信学历认证
原版1:1复刻堪萨斯大学毕业证KU毕业证留信学历认证原版1:1复刻堪萨斯大学毕业证KU毕业证留信学历认证
原版1:1复刻堪萨斯大学毕业证KU毕业证留信学历认证jdkhjh
 
Call Girls In Yusuf Sarai Women Seeking Men 9654467111
Call Girls In Yusuf Sarai Women Seeking Men 9654467111Call Girls In Yusuf Sarai Women Seeking Men 9654467111
Call Girls In Yusuf Sarai Women Seeking Men 9654467111Sapana Sha
 
Financial Leverage Definition, Advantages, and Disadvantages
Financial Leverage Definition, Advantages, and DisadvantagesFinancial Leverage Definition, Advantages, and Disadvantages
Financial Leverage Definition, Advantages, and Disadvantagesjayjaymabutot13
 
Economics, Commerce and Trade Management: An International Journal (ECTIJ)
Economics, Commerce and Trade Management: An International Journal (ECTIJ)Economics, Commerce and Trade Management: An International Journal (ECTIJ)
Economics, Commerce and Trade Management: An International Journal (ECTIJ)ECTIJ
 
letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...
letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...
letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...Henry Tapper
 
Bladex 1Q24 Earning Results Presentation
Bladex 1Q24 Earning Results PresentationBladex 1Q24 Earning Results Presentation
Bladex 1Q24 Earning Results PresentationBladex
 
BPPG response - Options for Defined Benefit schemes - 19Apr24.pdf
BPPG response - Options for Defined Benefit schemes - 19Apr24.pdfBPPG response - Options for Defined Benefit schemes - 19Apr24.pdf
BPPG response - Options for Defined Benefit schemes - 19Apr24.pdfHenry Tapper
 
Authentic No 1 Amil Baba In Pakistan Authentic No 1 Amil Baba In Karachi No 1...
Authentic No 1 Amil Baba In Pakistan Authentic No 1 Amil Baba In Karachi No 1...Authentic No 1 Amil Baba In Pakistan Authentic No 1 Amil Baba In Karachi No 1...
Authentic No 1 Amil Baba In Pakistan Authentic No 1 Amil Baba In Karachi No 1...First NO1 World Amil baba in Faisalabad
 
Interimreport1 January–31 March2024 Elo Mutual Pension Insurance Company
Interimreport1 January–31 March2024 Elo Mutual Pension Insurance CompanyInterimreport1 January–31 March2024 Elo Mutual Pension Insurance Company
Interimreport1 January–31 March2024 Elo Mutual Pension Insurance CompanyTyöeläkeyhtiö Elo
 
Tenets of Physiocracy History of Economic
Tenets of Physiocracy History of EconomicTenets of Physiocracy History of Economic
Tenets of Physiocracy History of Economiccinemoviesu
 
NO1 WorldWide Love marriage specialist baba ji Amil Baba Kala ilam powerful v...
NO1 WorldWide Love marriage specialist baba ji Amil Baba Kala ilam powerful v...NO1 WorldWide Love marriage specialist baba ji Amil Baba Kala ilam powerful v...
NO1 WorldWide Love marriage specialist baba ji Amil Baba Kala ilam powerful v...Amil baba
 
Call Girls Near Me WhatsApp:+91-9833363713
Call Girls Near Me WhatsApp:+91-9833363713Call Girls Near Me WhatsApp:+91-9833363713
Call Girls Near Me WhatsApp:+91-9833363713Sonam Pathan
 

Kürzlich hochgeladen (20)

Lundin Gold April 2024 Corporate Presentation v4.pdf
Lundin Gold April 2024 Corporate Presentation v4.pdfLundin Gold April 2024 Corporate Presentation v4.pdf
Lundin Gold April 2024 Corporate Presentation v4.pdf
 
call girls in Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
call girls in  Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️call girls in  Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
call girls in Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
 
SBP-Market-Operations and market managment
SBP-Market-Operations and market managmentSBP-Market-Operations and market managment
SBP-Market-Operations and market managment
 
government_intervention_in_business_ownership[1].pdf
government_intervention_in_business_ownership[1].pdfgovernment_intervention_in_business_ownership[1].pdf
government_intervention_in_business_ownership[1].pdf
 
(办理学位证)加拿大萨省大学毕业证成绩单原版一比一
(办理学位证)加拿大萨省大学毕业证成绩单原版一比一(办理学位证)加拿大萨省大学毕业证成绩单原版一比一
(办理学位证)加拿大萨省大学毕业证成绩单原版一比一
 
chapter_2.ppt The labour market definitions and trends
chapter_2.ppt The labour market definitions and trendschapter_2.ppt The labour market definitions and trends
chapter_2.ppt The labour market definitions and trends
 
The Triple Threat | Article on Global Resession | Harsh Kumar
The Triple Threat | Article on Global Resession | Harsh KumarThe Triple Threat | Article on Global Resession | Harsh Kumar
The Triple Threat | Article on Global Resession | Harsh Kumar
 
Economic Risk Factor Update: April 2024 [SlideShare]
Economic Risk Factor Update: April 2024 [SlideShare]Economic Risk Factor Update: April 2024 [SlideShare]
Economic Risk Factor Update: April 2024 [SlideShare]
 
原版1:1复刻堪萨斯大学毕业证KU毕业证留信学历认证
原版1:1复刻堪萨斯大学毕业证KU毕业证留信学历认证原版1:1复刻堪萨斯大学毕业证KU毕业证留信学历认证
原版1:1复刻堪萨斯大学毕业证KU毕业证留信学历认证
 
Call Girls In Yusuf Sarai Women Seeking Men 9654467111
Call Girls In Yusuf Sarai Women Seeking Men 9654467111Call Girls In Yusuf Sarai Women Seeking Men 9654467111
Call Girls In Yusuf Sarai Women Seeking Men 9654467111
 
Financial Leverage Definition, Advantages, and Disadvantages
Financial Leverage Definition, Advantages, and DisadvantagesFinancial Leverage Definition, Advantages, and Disadvantages
Financial Leverage Definition, Advantages, and Disadvantages
 
Economics, Commerce and Trade Management: An International Journal (ECTIJ)
Economics, Commerce and Trade Management: An International Journal (ECTIJ)Economics, Commerce and Trade Management: An International Journal (ECTIJ)
Economics, Commerce and Trade Management: An International Journal (ECTIJ)
 
letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...
letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...
letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...
 
Bladex 1Q24 Earning Results Presentation
Bladex 1Q24 Earning Results PresentationBladex 1Q24 Earning Results Presentation
Bladex 1Q24 Earning Results Presentation
 
BPPG response - Options for Defined Benefit schemes - 19Apr24.pdf
BPPG response - Options for Defined Benefit schemes - 19Apr24.pdfBPPG response - Options for Defined Benefit schemes - 19Apr24.pdf
BPPG response - Options for Defined Benefit schemes - 19Apr24.pdf
 
Authentic No 1 Amil Baba In Pakistan Authentic No 1 Amil Baba In Karachi No 1...
Authentic No 1 Amil Baba In Pakistan Authentic No 1 Amil Baba In Karachi No 1...Authentic No 1 Amil Baba In Pakistan Authentic No 1 Amil Baba In Karachi No 1...
Authentic No 1 Amil Baba In Pakistan Authentic No 1 Amil Baba In Karachi No 1...
 
Interimreport1 January–31 March2024 Elo Mutual Pension Insurance Company
Interimreport1 January–31 March2024 Elo Mutual Pension Insurance CompanyInterimreport1 January–31 March2024 Elo Mutual Pension Insurance Company
Interimreport1 January–31 March2024 Elo Mutual Pension Insurance Company
 
Tenets of Physiocracy History of Economic
Tenets of Physiocracy History of EconomicTenets of Physiocracy History of Economic
Tenets of Physiocracy History of Economic
 
NO1 WorldWide Love marriage specialist baba ji Amil Baba Kala ilam powerful v...
NO1 WorldWide Love marriage specialist baba ji Amil Baba Kala ilam powerful v...NO1 WorldWide Love marriage specialist baba ji Amil Baba Kala ilam powerful v...
NO1 WorldWide Love marriage specialist baba ji Amil Baba Kala ilam powerful v...
 
Call Girls Near Me WhatsApp:+91-9833363713
Call Girls Near Me WhatsApp:+91-9833363713Call Girls Near Me WhatsApp:+91-9833363713
Call Girls Near Me WhatsApp:+91-9833363713
 

OHL Concesiones Presentation: Growth and Investment in Infrastructure

  • 1. Presentation: OHL Concesiones April 23rd, 2009
  • 2. Contents Page 1. Basis of the Presentation 03 2. Investment Arguments and Criteria 05 3. Growth Process and Current Presence 08 4. Organization and Human Resources 13 5. 2008 and Key Magnitudes 17 6. New Concessions 31 7. Financing in Negotiation 36 8. Strategy 39 9. Valuation 42 Appendix 2
  • 3. 1. BASIS OF THE PRESENTATION
  • 4. Basis of the Presentation 1. The consolidated figures included in this presentation are “Pro-Forma”, and cover, besides data on OHL Concesiones, S.L., information on those concessions that: • Are property of other companies of the OHL Group • Are being transferred to OHL Concesiones, S.L., and • Are managed by OHL Concesiones 2. Accounting information, pertaining to both OHL Concesiones and each of the concession holders, was prepared according to International Financial Reporting Standards (IFRS), that are also followed to prepare the OHL Group’s Consolidated Annual Accounts, accordant to laws in effect and that may differ from the accounting rules applicable to concession holders in each country. 3. Any statement not expressely referred to historical data in this presentation including without limitation those related to the financial standing of the concession holders and of OHL Concesiones, as well as its operating development, business strategy, management plans and future operations objectives are to be considered estimations for the future. These estimations involve known and unknown risks; uncertainties and other factors that may cause that actual results of OHL Concesiones, its performance and achievements, or its business results and conditions may differ fundamentally from those foreseen or implicit in these estimations for the future. This presentation, including its estimations for the future are valid at today’s date and OHL Concesiones expressly waives any obligation or commitment to provide any updates or revisions of this information, any changes in its expectations; any change of the facts; conditions and circumstances that served as the basis to these estimations for the future, nor changes in the economic environment that OHL Concesiones expects to find in the future. 4. In this presentation only currently existing concessions are valued. Only in the “Future Value Hypothesis” there is a reference to the value of possible new concession business. 4
  • 5. 2. INVESTMENT ARGUMENTS AND CRITERIA
  • 6. Investment Criteria • Recurrent revenues and margins. • Selective high-yield investment with: - Controlled-risk. - Self-financing capacity without recourse to OHL Group. • Complementary with the rest of the OHL Group business. • Knowledge of customers, markets, technology and other aspects. 6
  • 7. Investment Criteria • Geographical scope: • Strategic Countries like Brazil, Mexico, Chile, Peru and Spain. • Selectively in other geographical areas. • Interest percentage: We favour majority holdings that confer decision-taking and control powers in each concession. • Profitability: A 15% target in Euros, taking into account the effect of possible parity changes, estimated as inflation differential. • Equity: Financed with cash flow put up by the Group. • Debt: Non-recourse and in local currency, free from exchange rate risk. 7
  • 8. 3. GROWTH PROCESS AND CURRENT PRESENCE
  • 9. Core Business of OHL Group Revenues • Wholly-owned OHL Group (€ Mn) subsidiary, established on November 4500 2000. 4000 14% 542 436 3500 12% 3000 • With growing importance within OHL 2500 Group, currently accounting for 14% 2000 3,466 3,328 88% 86% of revenues and 56% of EBITDA. 1500 1000 500 • Core business of OHL Group. 0 2007 2008 EBITDA (€ Mn) 700 600 500 340 56% 400 317 58% 300 200 44% OHL Concesiones 268 225 100 42% Remainder of OHL Group 0 2007 2008 9
  • 10. Proven Growth Track-Record Establishment Brazilian Federal Acquisition of Acquisition of Bicentenario Floatation of OHL 94% holding of OHL Roads Vianorte and Toluca Viaduct Centrovias Awarding of Brasil in Autovias Concesiones, SL Libramiento Acquisition of and Móstoles- CONMEX and (with AECSA, M- Puebla Awarding of Oeste Navalcarnero train Fumisa Intervias Acquisition of Acquisition of Awarding of Ruta 60 Port of Alicante 45 and 9% of Light Rail Aragón Highway Del Norte Highway Amozoc-Perote I2000 and Eje Aeropuerto Autovias) Strategic Definition Development Consolidation OHL´s Investement 1 92 Value Revenues 2 80 6 76 EBITDA € Mn 2 7 54 4 53 52 6 43 8 38 0 34 3 7 33 31 0 4 25 25 9 21 6 16 2 7 15 1 12 12 91 85 79 70 68 40 46 47 20 2000 2001 2002 2003 2004 2005 2006 2007 2008 Revenues C.A.G.R. (2000-2008): 38.6% EBITDA C.A.G.R. (2000-2008): 42.2% 10
  • 11. Transport Infrastructures Global Manager Highways 4,400 km of toll highways. Details (main concessions) - 4,234 km in operation. Concession Construction Operation Total - 166 km under construction. Type Airports Highways 3 19 22 Integral Management. More than 4 million Airports 0 1 1 passengers / year. Ports 0 1 1 Ports Railways 1 1 2 30 hectares and 1,275 meters of berthing line in Commercial Ports. Total 4 22 26 Railways 37 km of railways. Number of Contracts Total Km. Evolution 4,400 4,012 30 4000 25 26 24 3000 20 22 20 15 2000 10 801 8 8 1000 5 0 0 2001 mar-08 mar-09 2001 mar-08 mar-09 Total Concessions Highways Ranked 7th private transport infrastructure promoters in the world, ranking PWF 2008. 11
  • 12. Geographic Presence Global Presence • Consolidated presence in attractive markets with outstanding growth potential markets. • Experience and know-how to develop the activity in other markets. 12
  • 13. 4. ORGANIZATION AND HUMAN RESOURCES
  • 14. Management Chart Summary: Main Concessions OHL Concesiones PERU ARGENTINA BRAZIL SPAIN MEXICO CHILE 100% Circuito Exterior 71% 100% 60% 100% 87% Autopista Autopista Mexiquense FASE I Autopista del Norte OHL Brasil M-45 Ezeiza-Cañuelas Los Andes 100% 100% 75% 55% 100% Infraestructura Autopista Autopista M-12 Amozoc-Perote FASES II, III y IV 2000 Los Libertadores Eje Aeropuerto 95% 100% São Paulo State 100% Federal Network Autovía de Aragón Libramiento Norte Network Autopista del Sol Tramo 1 de Puebla 100% 100% 100% Autovias Rio de Janeiro 50% Viaducto Espírito Santo Puerto de Alicante Bicentenario 100% 100% São Paulo Centrovias 51% 33% Belo Horizonte Metro Ligero Aeropuerto Int. Oeste de Toluca 100% 100% São Paulo Intervias Curitiba 100% Cercanías Móstoles 100% Navalcarnero 100% Curitiba Vianorte Florianópolis 100% Curitiba Rio Grande do Sul 14
  • 15. Organization Chart Board of Directors ____________________________ Chairman Juan Villar-Mir de Fuentes Chief Executive Officer Juan Osuna Legal Counsel Business Development Directors M. Carmen Honrado Ignacio García / Sergio Merino Financial Director Gabriel Núñez Chief Construction Officer Technical Director Carlos García-Faure Pedro Martín Administration Director Chief Financing Officer Eugenio Mota Felipe Ezquerra Chief Opperating Officer Port Director Manuel Bejerano Francisco Oviedo Human Resources Arturo Pousa Director Director Director Director Director Director Peru Argentina Brazil Spain Mexico Chile 15
  • 16. Human Resources OHL Concesiones SL, business Staff 2008: 5,313 people chairmanship, takes on the following functions: 6000 60 • Analysis and management of business 4000 47 developments and tendering or acquisition 5,253 2000 processes. 2,859 0 • Financing and optimization of the concessions 2007 2008 5.253 financial structure. 0 OHL Concesiones, S.L. Sociedades concesionarias Concession Companies OHL Concesiones S.L. • Control and supervision of concessions in operation. Geographical Breakdown 2008 Local organizations take on the following functions: Argentina 1% 8% 10% • Identification of investment opportunities and 7% Brazil 6% cooperation in the preparation of tendering Chile processes and in the negotiations to acquire Spain concessions. Mexico 68% Head Office • Management of concessions in operation and in construction. Control of investment process: New concession tendering and negotiations to acquire new concessions need the approval of both the Strategy Committee of OHL Concessiones and the Investment Committee of OHL Group. 16
  • 17. 5. 2008 AND KEY MAGNITUDES
  • 18. General Environment • Serious economic and financial world wide crisis. • Lesser impact in South America. Variation in real GNP 2008 2009 (E) 2010 (E) USA 1.1% -1.2% 1.5% EU 0.7% -2.5% 0.2% SPAIN 1.2% -2.8% 0.3% BRAZIL 5.1% -0.3% 3.5% MEXICO 1.4% -1.8% 1.1% CHILE 3.4% 0.5% 2.3% PERU 9.8% 4.2% 4.8% Source: BBVA study services, February 2009 and Focus Report from Brazil’s Central Bank. • Concessions Business: Relatively good performance. Growth in revenues: • •Traffic resistance. •Tolls indexed to inflation. Availability of financial resources, although with negative impacts: • • Financial entities still maintain their appetite. • Developments public bank support. • Increase in bank spreads, term reduction and decrease in leverage levels. Increase in business opportunities: • • Lesser competition. • More government interests. 18
  • 19. 2008 Highlights (I) • Good performance of Revenues and EBITDA with homogeneous growths of 34.2% y 25.2% Revenues performance 2007-2008 € Mn EBITDA performance 2007-2008 € Mn 358 400 542 286 600 Var. +25.2% 404 300 Var. +34.2% 400 200 200 100 0 0 2007 2008 2007 2008 € Mn 2007 2008 € Mn 2007 2008 EBITDA 317 340 Revenues 436 542 FUMISA sale (31) - FUMISA sale (32) - Eje Aeropuerto Provision - 18 Eje Aeropuerto Provision - - Homogeneous EBITDA 286 358 Homogeneous Revenues 404 542 • Despite the negative impact of the exchange rates performance. Average exchange rate performance versus the Euro 08/07 Devaluation Currency Argentinean Peso 8.6% Chilean Peso 6.8% Mexican Peso 8.5% Brazilian Real 0% 19
  • 20. 2008 Highlights (II) Backlog Growth with: • Two concessions in Mexico: Libramiento Norte of Puebla with 32 km, in March of 2008 and the Bicentenario Viaduct with 32 km, in May of 2008. • One concession in Peru: Autopista del Norte with 356 km in February of 2009. In the financial field: Achieved the goals established. • Mexico: In November of 2008, first refinancing of Conmex (from 3.3 to 6.0 billion Pesos) to obtain the funding for the initial investments of phase II and III (BBVA- Bancomer, Banobras and Banorte). • Brazil: In June of 2008, refinancing of Autovias, Centrovias and Intervias up to 670 million Reais to fund initial investments of the federal concessions (Santander, Bradesco and Banco do Brasil). • Spain: In June 2008 closing of the financing of the Aragón highway - tranche 1 for a total amount of 116.5 million Euros (BEI, ICO and DEPFA Bank). 20
  • 21. 2008 Highlights (III) Operations: • In June 2008 , beginning of operation of sector 2 of the Los Andes highway, of 38.5 km, which joins the cities of La Calera and Valparaiso. • Completion of the operation of Amozoc – Perote in Mexico, since November of 2008. • Federal highways in Brazil: After the signing of the contracts in February 2008, initiation of the works begun and service and conservation started in August of 2008. Construction of the toll booths and gradual collection of tolls since 28th of December 2008 (at the present moment 22 of the 29 booths are open). • In December 2008 works where finalized and the operation of the Alicante Port begun. Contractual Aspects: • In June 2008 the demand for the economical and financial upright of the Eje Aeropuerto concession contract was presented. • In January 2009 the Argentinean government announced a raise in AECSA´s light vehicle toll, which will permit an increase in income of approximately 90%, as per the upright process of the contract. This toll increase is in its final phase of implementation. 21
  • 22. 2008 Highlights (IV) Disposals: • Sale of 50% of FUMISA in February of 2008, with a net profit of 25.3 million Euros: Mature concession (5 pending years) • • Complicated re-negotiation process. Investments: • The concession companies have invested a total of 810 million Euros. € Mn Argentina 4 Brazil 324 Chile 59 Spain 143 Mexico 280 TOTAL 810 22
  • 23. 2008 Traffic and Toll Performance Good traffic performance in Latin America: 2007/2008 Traffic and Toll Performance Growths of more than 4% in mature Company Traffic Toll concessions in Brazil, Chile and Argentina. Aecsa (1) -0.6% 15.1% Strong growths in concessions in initial phase: Autovias (1) 30.8% 11.5% Amozoc-Perote 26.3% and Oeste Light Rail Centrovias (1) 7.0% 11.5% 42.5% (passengers). Intervias (1) 4.0% 11.5% Growth in Autovias due to the opening of a Vianorte (1) 6.8% 11.5% new toll booth on July 2007, which has captured more traffic in comparison to the Autopista del Sol (1) 8.5% 6.1% previous year. (Revenues +22% and EBITDA A. Los Libertadores (1) 5.7% 7.1% +26%). A. Los Andes (1) (5) NA NA Excellent traffic performance in Conmex, with M-45 (2) (4) -6.9% 4.2% a 17% increase. Eje Aeropuerto (1) -6.9% 2.9% Beginning of operations in the west tranche of Oeste Light Rail (3) 42.5% 4.1% los Andes highway (June 2008), and full operation of the Amozoc- Perote (November Amozoc- Perote (1) 26.3% 3.8% 2008). Conmex (1) 17.0% 3.8% (1) Nº of vehicles (Annual Average Daily Traffic) (2) Nº of vehicles (Average Daily Intensity) (3) Average daily passengers (4) Decrease in traffic does not affect revenues, since traffic is way above the maximum established as collection basis by the Comunidad de Madrid (shadow toll). The actual traffic is 22% above the maximum established by the Comunidad de Madrid. (5) Beginning of operations of the west tranche in June 2008. 23
  • 24. Revenues and EBITDA Detail COUNTRY: Revenues Mn € EBITDA Mn € EBITDA/Revenues Margin Company 2008 2007 Var.% 2008 2007 Var.% 2008 2007 Aecsa 11.3 10.7 5.6% 0.6 2.8 -78.6% 5.3% 26.2% ARGENTINA 11.3 10.7 5.6% 0.6 2.8 -78.6% 5.3% 26.2% Autovias 68.9 56.4 22.2% 51.3 40.7 26.0% 74.5% 72.2% Centrovias 63.9 52.7 21.3% 48.7 36.8 32.3% 76.2% 69.8% Intervias 77.9 69.2 12.6% 57.6 49.2 17.1% 73.9% 71.1% Vianorte 61.8 53.7 15.1% 47.1 38.8 21.4% 76.2% 72.3% BRAZIL 272.5 232.0 17.5% 204.7 165.5 23.7% 75.1% 71.3% (3) 78.1% (3) Autopista del Sol 31.5 29.1 8.2% 19.2 17.3 11.0% 78.1% Autopista Los Libertadores 16.6 15.4 7.8% 12.3 11.6 6.0% 74.1% 75.3% Autopista Los Andes 3.5 - n.a. 1.9 - n.a. 54.3% n.a. CHILE 51.6 44.5 16.0% 33.4 28.9 15.6% 75.2% 77.1% Euroglosa M-45 11.1 10.4 6.7% 10.1 9.4 7.4% 91.0% 90.4% (4) (4) Autopista Eje Aeropuerto 5.5 5.7 -3.5% -16.8 2.2 n.a. 21.8% 38.6% Oeste Light Rail 27.2 12.3 121.1% 7.5 4.8 56.3% 27.6% 39.0% SPAIN 43.8 28.4 54.2% 0.8 16.4 -95.1% 42.9% 57.8% Fumisa 0.0 32.5 n.a. 0.0 30.8 n.a. 94.8% Amozoc-Perote 26.3 32.8 -19.8% 12.1 24.1 -49.8% 46.0% 73.5% Conmex 53.2 49.2 8.1% 46.0 42.5 8.2% 86.5% 86.4% Rentabilidad garantizada (1) 24.9 141.4% 0.0 0.0 - 60.1 n.a. n.a. (2) 81.2% (2) MEXICO 79.5 114.5 -30.6% 118.2 122.3 -3.4% 73.1% TOTAL CONCESSIONS 458.7 430.1 6.6% 357.7 335.9 6.5% 68.8% 70.4% Central Offices and Others 83.7 5.4 n.a. -17.8 -18.9 -5.8% TOTAL 542.4 435.5 24.5% 339.9 317.0 7.2% (1) Classified in other operating revenues, and not included in the consolidated figures; (2) EBITDA/Revenues not including the guaranteed profitability of CONMEX and in 2007 without FUMISA; (3) % EBITDA/Revenues eliminating the canon to the Government expense of 5.4 € Mn/year; (4) the EBITDA includes an 18 € Mn provision for fixed assets impairment. 24
  • 25. Long Term Orderbook Long Term Orderbook Performance € Mn Orderbook Geographical Breakdown 51,490 2% 2% Argentina 54000 46,175 Brazil 35% 48000 C. A.G.R. + 48.7% 40% Chile 42000 Spain 36000 Mexico 30000 23,856 13% 8% Peru 24000 16,744 18000 8,517 10,035 12000 Orderbook Business Breakdown 3,208 4,566 6000 0 1% 9% 2007 (1) 2008 (2) 2001 2002 2003 2004 2005 2006 Highways (1) Includes the orderbook of 5 federal highways in Brazil, signed in February 2008. Does not include Fumisa which was sold in March 2008, nor the Libramiento de Puebla signed in March Railways 2008. Ports (2) Includes the orderbook of Autopista del Norte, signed in February 2009. 90% Orderbook as of 31/12/07 46,175 + Libramiento Norte de Puebla 434 2008 Pro-forma* Orderbook: 51.5 € Bn + Elevated Viaduct Bicentenario 5,862 + Autopista del Norte (Peru) 1,065 *According to subsidiaries consolidation method + Orderbook variation (by exchange -2,046 rate fluctuations and others) Pro-forma+ Orderbook as of 31/12/08 51,490 25
  • 26. Main concessions Key Data I (€ Mn) Total OHL Investment Average Daily Toll Roads Country Stage Km % OHL Traffic (1) Investment Value Aecsa Argentina Operation 60 93 71% 85.7 214,720 Total Argentina 60 93 85.7 Brazil Operation 316 320 60% 103,786 Autovias Centrovias Brazil Operation 218 278 60% 60,727 Intervias Brazil Operation 376 501 60% 141,576 Vianorte Brazil Operation 237 247 60% 79,582 101.4 Rio de Janeiro-Espirito Santo Brazil Pre-operation 320 615 60% NA São Paulo-Belo Horizonte Brazil Pre-operation 562 816 60% NA Brazil Pre-operation 402 1,082 60% NA São Paulo-Curitiba Curitiba-Florianópolis Brazil Pre-operation 382 758 60% NA Brazil Pre-operation 413 461 60% Curitiba-Rio Grande do Sul Total Brazil 3,226 5,078 101.4 Autopista del Sol Chile Operation 132 152 75% 26.7 71,201 Autopista Los Libertadores Chile Operation 119 154 75% 13.7 36,206 13,786 (3) Autopista Los Andes Chile Operation 92 276 100% 37.5 Total Chile 343 582 77.9 Autovía M-45 Spain Operation 8 116 100% 77,303 0.1 Autopista M 12 Spain Operation 9 427 100% 10,575 154.3 Autovía de Aragón-Tramo 1 Spain Pre-operation 56 233 95% NA 10.6 Total Spain 73 776 165.0 Conmex (Fase I) Mexico Operation 52 87% 119,673 1,544 228.9 Conmex (II, III y IV) Mexico Construction 103 100% NA Amozoc-Perote Mexico Operation 123 179 55% 48.2 18,911 Libramiento Norte de Puebla Mexico Construction 32 134 100% 0.7 NA Viaducto Bicentenario Mexico Construction 32 1,188 100% 63.2 NA Total Mexico 342 3,045 341.0 (2) Autopista del Norte Peru Pre-operation 356 203 100% NA Total Peru 356 203 - Total Toll Roads 4,400 9,777 77% 771.0 (1) Traffic figure corresponding to equivalent vehicles paying with the exception of M45 that shows the average daily intensity (ADI); (2) Contract signed in February 2009; (3) Traffic corresponding to west sector, began operations in June 2008. 26
  • 27. Main Concessions Key Data II (€ Mn) Operated Total OHL Investment Passengers / Others Country Stage % OHL Facilities Investment Value Year 22 Km. Operation 6.9 million Metro Ligero Oeste Spain 937 51% 63.4 2 Lines Cercanías Móstoles- 15 Km. Spain Construction 424 100% 25 NA Navalcarnero 1 Line 30 Ha. Inner Harbour Operation Puerto de Alicante Spain 111 50% 9.7 269,946 1,275 m. Berthing Line Airport, complementary Operation 4.1 million Toluca (Airport) Mexico 300 33% 52.4 and commercial services 1,772 60% 150.4 Total Others TOTAL 11,549 74% 921.4 27
  • 28. Vi -20 -10 0 10 20 30 40 50 an or te Au 9 t o Ce via s nt 10 ro -11 -10 vi a Ez A. ei de s 10 lS A. za- o Lo C a s ñu l 10 -11 -13 e Duration (years) lib er las ta A. 12 do -15 Ar ag re s ón 17 -11 T In . 1 te E -1 18 r A. uro via s M ós Eje glo -8 19 sa to Ae 4 le ro s- N pu 5 19 R a -10 er t S. . Ja val ca o ne Pa -6 19 i rn ul o- ro-E ero Be .S -1 19 lo a Years Remaining Ho nto S. riz Cu Pa -1 24 Cu riti ulo ont e b -C rit ib a-F ur -1 24 lo iti a- r R ba . G ian -1 óp 24 Au ra n de olis to pi -1 24 st do a Su l Am del -1 24 oz No rt e oc - 25 A. Pe Lo rot e s Main Concessions Portfolio Life A average remaining period of the Portfolio. -5 25 Al nd ic e a O Li es nte s -6 27 br te am Po Ci Li ie rc gh rt nt -6 ui 27 o to tR a Ex N. Vi Pu il Years Passed -2 28 a d t. M eb uc ex la iq Ae to B -1 ue 29 ro n pu ice nt s e er en -6 to 29 ar In io t. To -1 29 lu The incorporation of the new concessions in 2008 and 2009 enlarges in a relevant way the ca -3 47 28
  • 29. Variation of Net and Gross Fixed Assets Consolidated Net Fixed Assets Variation (€ Thousand) Consolidated Gross Fixed Assets CONTROL % Concession OHL % 2008 2007 Difference (€ Mn) Aecsa 71% 66,587 -16,042 82,629 60% 140,291 -28,448 168,739 Autovias Total as of 12/2007 3,124 60% 125,654 -23,126 148,780 Centrovias 60% 132,528 -14,126 146,654 Intervias Investments 2008 770 60% 125,275 -25,104 150,379 Vianorte FUMISA sale -138 R. Janeiro-E. Santo 60% 36,506 36,506 - S. Paulo-B. Horizonte 60% 67,067 67,067 - Exchange Rate diferences -327 60% 75,698 75,698 S. Paulo-Curitiba - Total as of 12/2008 3,429 Curitiba-Florianópolis 60% 41,639 41,639 - 60% 31,012 31,012 Curitiba-R. Gde. do Sul - Global 75% 86,733 -18,017 104,750 A. del Sol Considering the canon paid for the A. Los Libertadores 75% 88,550 -21,820 110,370 Integration award of the concession Viaducto A. Los Andes 100% 207,708 19,789 187,919 Bicentenario (Intangible Fixed M45 100% 80,151 -2,531 82,682 Assets), the total gross investment for A. Eje Aeropuerto M12 100% 298,685 -21,224 319,909 the year 2008 committed by the Autovía de Aragón-T. 1 95% 26,113 1,074 25,039 concessions amounts to 810 million Metro Ligero Oeste 51% 559,215 46,657 512,558 Euros. Móstoles Navalcarnero 100% 39,104 39,104 - Conmex 87% 488,830 132,162 356,668 Amozoc-Perote 55% 162,780 5,437 157,343 Libramiento Puebla 100% 3,261 3,261 - Viaducto Bicentenario 100% 13,174 13,174 - Fumisa 50% -60,078 60,078 Percentage Puerto de Alicante 50% 47,547 12,656 34,891 Integration OTHER Others 46,167 18,316 27,851 TOTAL 2,990,275 2,653,274 337,001 29
  • 30. Financial Debt Variation (Non-Recourse to OHL) Financial Debt Variation (€ Thousand) Consolidated Cash and Consolidated Gross Debt Consolidated Net Debt Equivalent Concessionaire % CONTROL 2008 2007 Difference 2008 2007 Difference 2008 2007 Difference 20,708 -3,216 260 -398 20,448 -2,818 23,924 658 23,266 Aecsa 94,862 27,677 4,599 -330 90,263 28,007 67,185 4,929 62,256 Autovias 83,952 59,492 5,895 3,587 78,057 55,905 24,460 2,308 22,152 Centrovias 110,302 45,198 7,734 885 102,568 44,313 65,104 6,849 58,255 Intervias 26,189 -11,321 4,813 2,144 21,376 -13,465 37,510 2,669 34,841 Vianorte 795 709 R. Janeiro-E. Santo 709 795 -86 -86 3,017 1,929 S. Paulo-B. Horizonte 1,929 3,017 -1,088 -1,088 1,631 1,011 1,011 1,631 -620 -620 S. Paulo-Curitiba 1,513 22 Curitiba-Florianópolis 22 1,513 -1,491 -1,491 2,116 2,116 -2,116 -2,116 Curitiba-R. Gde. do Sul Global 50,716 126,060 -14,650 -8,019 75,344 -6,631 140,710 58,735 81,975 A. del Sol Integration 15,375 104,686 -15,204 -4,618 89,311 -10,586 119,890 19,993 99,897 A. Los Libertadores 122,752 217,725 61,291 104,102 156,434 18,650 94,973 -42,811 137,784 A. Los Andes 715 75,680 -1,017 -1,514 74,965 497 76,697 2,229 74,468 Autovía M-45 16,686 -629 221,316 -535 238,002 239,166 17,315 -1,164 221,851 Autopista M 12 8,761 8,761 375 -9,339 8,386 18,100 9,714 -9,714 Autovía de Aragón-T. 1 38,441 520,626 72,713 28,706 482,185 44,007 447,913 9,735 438,178 Metro Ligero Oeste 5,388 5,281 -5,388 -5,281 107 -107 Móstoles Navalcarnero 301,711 97,699 39,413 10,173 262,298 87,526 204,012 29,240 174,772 Conmex 6,198 2,862 -6,198 -2,862 3,336 -3,336 Amozoc-Perote 23 23 -23 -23 Libramiento Puebla 56 56 -56 -56 Viaducto Bicentenario -66,970 -20,824 -46,146 66,970 20,824 46,146 Percentage Fumisa Integration 44,613 1,318 15,301 835 43,295 14,466 29,312 483 28,829 Puerto de Alicante 185,232 13,269 -67,093 -2,536 171,963 -64,557 252,325 15,805 236,520 Others Otros 343,098 223,579 119,519 1,819,682 1,728,033 91,649 TOTAL 2,162,780 1,951,612 211,168 30
  • 32. Viaducto Bicentenario Viaducto Bicentenario Viaducto Bicentenario, S.A. de C.V. OHL Concesiones Stake 100 % Client Government of Mexico Concession Period May 2008 May 2038 Total Investment 1.2 billion Euros Length 32 km Toll Booths 20 • Viaduct over the Mexico-Queretaro highway, one of the most congested in the country with an average daily traffic of 300,000 vehicles. • It is estimated that the Viaduct will capture 10% of traffic in its first phase, but as the highway gradually enters into operation, the traffic will be incremented significantly. • The toll fee is adjusted annually by the inflation (INPC), or in any period in which the index rises above 5%. • Structured in three phases with a similar investment for each phase. The second and third phases will begin when a certain level of traffic is achieved in phases one and two respectively. 32
  • 33. Viaducto Bicentenario 1. Phase 1: Reversible three lane viaduct of 22 km of length between the border of the State of Mexico with the Federal District in “el Toreo” until the conexion of the Circuito Exterior Mexiquense with the Mexico-Queretaro highway. • The first tranche of this phase is of 4.3 km in length, should begin operations this year. 2. Phase 2: Three lane viaduct of 22 km parallel to the viaduct of Phase 1. With the construction of this second viaduct the first viaduct ceases to be reversible. • Beginning of construction is estimated for the year 2016, once it has reached a level of traffic of 50,000 vehicles. 3. Phase 3: 10 km prolongation of both viaducts towards the north, giving the concession a total of 32 km in length. • Construction is estimated to begin in the year 2027 once it has reached a level of traffic of 180,000 vehicles per day. • The project is integrated inside Valle de México metropolitan zone highway system, with connections to the Distrito Federal and Circuito Exterior Mexiquense’s future viaduct. • The collection system is automatic with a barrier control at the entrance and is charged by actual km use. • The vehicle identification system at the exit of the viaduct is done by a new portal frame developed jointly by OHL Concesiones and Indra . 33