Photo non contractuelle : Trader-workstation.com (Copyright)
Les prévisions de clôture de l'exercice 2007 visent une hausse de 9 % des revenus d'exploitation, une hausse de 10 % de l'Ebitda et une hausse de 28 % du bénéfice net.
- Les revenus d'exploitation s'élèvent à 2 750 millions d'euros (+ 10 %) sur cette période.
- L'Ebitda s'élève à 1 782 millions d'euros (+ 10 %).
- Le flux de trésorerie net est en hausse de 12 %, à 1 062 millions d'euros.
- Le bénéfice net au 30 septembre 2007 est en hausse de 22,4 % à 559 millions d'euros, dépassant celui de 530 millions d'euros enregistré pour l'année 2006.
- Investissements (capex) à 1 287 millions d'euros.
- Good performance at Sanef (toll roads) with traffic up 3.3%, and also Eutelsat (telecommunications) which saw revenue rise 4.8% for the 2006/2007 fiscal year and 6.2% in the first quarter 2007/2008 (ended 30 September 2007).
- abertis achieved 3.4% growth in traffic in 9M07 on its 3,320 km toll road network. Traffic grew 3.3% in France (sanef) -52.5% of abertis' network− and 3.5% in Spain. Income from the Group's toll road sector advanced 9% to E2,086 Mn with sanef contributing E1,007.
- abertis telecom continued to perform well with a 10% rise in revenues fuelled by the rollout of DTT (digital terrestrial television), new contract wins with national radio broadcasters and the value-added services offered.
- Eutelsat, the satellite operator in which abertis has held a 32% stake since January making it the company's main shareholder, equity consolidated by abertis had a positive impact on its earnings. This is thanks to the company's good key figures in the fiscal year ended 30 June 2007 and the first quarter 2007/2008 (ended 30 September 2007).
Following the acquisition of 28.4% of Hispasat (announced in October), abertis will become the operator's leading shareholder, consolidating its growth strategy in the satellite sector and strengthening its international expansion programme and the visibility of the telecommunication business.
Growth at abertis airports continues with a 17% rise in revenue and a 6.5% increase in passenger numbers to over 18 million. The announcement in September that the Group is to acquire DCA, ACS' holding which operates 15 airports, 12 of which belong to the Grupo Aeroportuario del Pacífico, show its commitment to the airport sector. This transaction does not affect the figures for January-September 2007.
In the car park sector, saba registered an 11% increase in revenues and a 6.5% increase in vehicle rotation, totalling 38 million vehicles. The company has continued with its international expansion plan with the announcement in September of a car park concession in the Villa Borghese park in Rome. abertis logística recorded a 17% increase in revenues with positive advances in its logistics parks activity.
In all, 48% of group revenues and 44% of EBITDA were generated outside of Spain. France is abertis' second most important market, accounting for 37% of revenues and 38% of EBITDA.
Barcelona, 8 November 2007. abertis' 9M07 results prepared under IFRS show very healthy advances across the board with significant growth in the toll road business of abertis' network (a 3.4% increase in traffic figures); telecommunications (the positive impact of the roll out of DTT as well as Eutelsat's activity); and its airport business (with a 17% increase in revenues). abertis reported a 10% yoy increase in 9M07 revenues to E2,750 Mn, fuelled by good performances across all its businesses with sanef contributing E1,007 Mn to this figure.
75.8% of total revenues came from the toll roads business, 10.5% from telecommunication infrastructures and 9% from airports. The car parks business contributed 3.5% and logistics infraestructures the remaining 0.6%. 48% of the abertis group's revenues are generated outside of Spain with 37% in France and 6% in the UK (mainly TBI's airport business). EBITDA rose 10% yoy to E1,782 Mn, while EBIT rose 14% yoy to E1,197 Mn. Finantial Results at 30 September 2007 totalled E399 Mn.
Earnings from companies accounted for under the equity method through September totalled E68 Mn, deriving largely from abertis' indirect 6.7% stake in Atlantia and its 32% stake in Eutelsat. abertis generated net cash flow in 9M07 of E1,062 Mn, an increase of 12% yoy, which shows the strong growth in all its business lines.
The abertis group reported net profit in 9M07 of E559 Mn, an increase of 22.4% vs. the same period last year. Forecasts for the end of the year point to a 9% rise in revenues, a 10% increase in EBITDA and a 28% rise in net profit.
At 30 September, abertis' average workforce stood at 11,570, 55% of which worked abroad.
Balance sheet and investment
The main change to the balance sheet comes from the acquisition of its stake in Eutelsat. At 30 September 2007, abertis had total assets of E20,285 Mn (up 6% on year-end 2006) and shareholders' equity of E5,007 Mn. abertis invested a total of E1,445 Mn in the first nine months of the year, of which E1,287 Mn (89% of the total) was expansion capex and went to consolidate its geographical and sector diversification strategy.
The most important acquisition made was in telecommunication infrastructures, with the purchase of 32% stake of the French satellite operator Eutelsat for E1,077 Mn through abertis telecom. The remaining investment in this business went to developing DTT. The main expansion capex projects undertaken in the toll roads division were those carried out by sanef, with E77 Mn spent on the construction of new lanes and service areas, and capital contributions to the A'lienor consortium (winner of the tender for the AP-65 Langon-Pau toll road). Also highlight the E24 Mn invested by castellana to complete the work on the new Guadarrama tunnel and lane widening on the AP-6 toll road. Also included were the E11 Mn invested by iberpistas to acquire the 20.8% it did not already own of aulesa. In airports, expansion capex went mainly on refurbishment work, capacity optimisation and car park expansion work at London Luton airport (E4 Mn) while a further E3 Mn was spent on increasing capacity at Cardiff International airport. In car parks, to highlight saba's acquisition of a car park in Las Palmas de Gran Canaria for around E10 Mn as well as the E5 Mn spent on the construction of a car park in Girona and a further E4 Mn to acquire car parks in Elche.
Expansion capex in logistics parks infraestructures corresponded mainly to the acquisition of the land to develop the project in Chile (E20 Mn). As well as the construction work on two new buildings located at the Parc Logístic de la Zona Franca in Barcelona (E4 Mn) and the second phase of construction of the Sevisur logistics platform in Seville (E4 Mn).
The bulk of operational capex to 30 September 2007 (E158 Mn in all) was in the toll road and airports divisions. In the toll roads business, the main investments were made by sanef (E64 Mn) and aumar (E12 Mn) to overhaul and upgrade their networks, while acesa invested E20 Mn on upgrading its toll areas and safety issues. In the car parks division E12 Mn was invested largely on environmental and safety issues and adaptations for people with limited mobility. Lastly, E4 Mn was spent at the Belfast International airport to strengthen the fire brigade.
At 30 September, abertis had net debt of E12,135 Mn. 62% of the total is secured with the company's own projects (i.e. non-recourse debt) and 38% with recourse to the parent company (abertis). 83% of total debt at that date was at fixed rates or fixed for the end of September while 95% is long term.
Business performance
1.Toll Roads
The toll roads business was still the group's main activity in 9M07, with a similar weighting to the same period in 2006. The division contributed E2,086 Mn to group revenues (75.8% of the total) and E1,552 Mn to EBITDA (87%).
Traffic on abertis' toll roads in Spain rose 3.5% in 9M07, with average daily traffic (ADT) of 28,542 vehicles. Traffic growth on the toll roads managed by sanef was 3.3%, with ADT of 24,372 vehicles. Therefore, throughout 2007 growth trends seen at the end of 2006 have been sustained. ADT for the overall toll road network, including sanef and GCO (Argentina), has risen 3.4% (27,010 vehicles), outstripping expectations. Highlights here include the use of the teletoll system in abertis' overall toll road network. This system keeps traffic on the roads fluid, helps boost mobility, reduces petrol consumption and means vehicles do not have to stop at the toll booths. Through September, 24.2% of the transactions on abertis' toll roads in Spain were made using the teletoll system, while this figure was 22.1% on sanef's network in France. On acesa's network, this system was used in 32.3% of all transactions.
+------------------------+---------+-----------+
| Company | ADT | Increase |
+------------------------+---------+-----------+
| | | |
+------------------------+---------+-----------+
| acesa | 39,814 | 4.0% |
+------------------------+---------+-----------+
| aumar | 27,627 | 1.9% |
+------------------------+---------+-----------+
| aucat | 35,399 | 6.6% |
+------------------------+---------+-----------+
| iberpistas | 31,813 | 3.7% |
+------------------------+---------+-----------+
| castellana | 6,415 | 12.1% |
+------------------------+---------+-----------+
| | | |
+------------------------+---------+-----------+
| avasa | 14,976 | 3.4% |
+------------------------+---------+-----------+
| | | |
+------------------------+---------+-----------+
| aulesa | 5,083 | 18.8% |
+------------------------+---------+-----------+
| | | |
+------------------------+---------+-----------+
| Abertis Network Spain | 28,542 | 3.5% |
+------------------------+---------+-----------+
| sanef | 24,372 | 3.3% |
+------------------------+---------+-----------+
| GCO (Argentina) | 65,996 | 2.4% |
+------------------------+---------+-----------+
| Abertis Network | 27,010 | 3.4% |
+------------------------+---------+-----------+
2.Telecommunication Infrastructures
This division was the second largest contributor to 9M07 revenues (E289 Mn or 10.5% of the total) and EBITDA (E115 Mn, 6%). abertis telecom continued to perform well, achieving a 10% yoy increase in revenues, driven mainly by the rollout of DTT which in August reached 85% of the population and contract wins with national radiobroadcasters. abertis telecom currently broadcasts 20 digital channels from 153 centres across its broadcasting network which are fully adapted for the new audiovisual technology in accordance with the Spanish DTT Plan. In all, abertis telecom has more than 3,200 sites.
Also in this division, to highlight the good performance at Eutelsat, which contributed E12.3 Mn to the Group's results, an indication of the solid growth of its key figures in fiscal year 2006/2007 (ended 30 June) with a 4.8% increase in revenues combined with a 6.2% rise in the first quarter 2007/2008 (ended 30 September 2007).
3. Airports
Revenues in the airports division reached E248 Mn in 9M07 (9% of abertis' total revenues), while EBITDA totalled E85 Mn (5%). Revenues in the nine-month period rose sharply (17%), driven by 6.5% growth in passenger numbers at all the airports to nearly 18 million. Particularly noteworthy was the strong performance by the Stockholm Skavsta, Belfast International and Orlando Sanford airports, with growth in passenger numbers of 7.1%, 6.3% and 6.4% respectively, and the three Bolivian airports (Santa Cruz, Cochabamba and La Paz), where passenger figures grew by more than 14.8%.
In September abertis airports announced it had reached an agreement with ACS to acquire Desarrollo de Concesiones Aeroportuarias (DCA), a holding company with stakes in 15 airports in Latin America. This acquisition has bolstered abertis' position in this business and it now has inerests in 29 airports in eight countries where it handles 56 million passengers a year.
4. Car Parks
saba reported 9M07 revenues of E97 Mn (+11% yoy) and EBITDA of E42 Mn, representing 3.5% and 2%, respectively of the Groupl. saba's international and domestic expansion in 2006 and 2007 -the company added new car parks in Italy and Spain (Pamplona, Las Palmas de Gran Canaria, Elche, Terrassa and Girona)- drove this increase in 9M07. Vehicle rotation in the first nine months of the year totalled 38 million vehicles, an increase of 6.5% yoy. At the end of September, saba managed a total of 89,264 parking spaces in 165 parking areas in Spain, Italy, Chile, Portugal, Morocco and Andorra. In September, saba obtained a new car park concession in Villa Borghese park in Rome. With an investment of E92.5 Mn, this is one of the largest projects ever undertaken by saba which now manages 20,000 parking spaces in 42 car parks in 16 cities.
5. Logistics Parks
abertis logística reported a 17% yoy increase in 9M07 revenues to E16 Mn (0.6% of the total) and contributed E6 Mn to EBITDA. abertis logística continues to grow business at all its logistics parks in Spain, while pursuing an international expansion strategy. Its expansion abroad began last year with the announcement of a project in Portugal and has continued this year with the agreement signed in July to develop a logistic park in the metropolitan area of Santiago de Chile.
+---------------------+-----------------+---------+
| Contributionby | sectors9M 2007 | MnE |
+---------------------+-----------------+---------+
| | REVENUES | EBITDA |
+---------------------+-----------------+---------+
| | | |
+---------------------+-----------------+---------+
| TOLL ROADS | 2,086 | 1.552 |
+---------------------+-----------------+---------+
| | | |
+---------------------+-----------------+---------+
| TELECOMMUNICATIONS | 289 | 115 |
+---------------------+-----------------+---------+
| | | |
+---------------------+-----------------+---------+
| AIRPORTS | 248 | 85 |
+---------------------+-----------------+---------+
| | | |
+---------------------+-----------------+---------+
| CAR PARKS | 97 | 42 |
+---------------------+-----------------+---------+
| | | |
+---------------------+-----------------+---------+
| LOGISTICS INFR. | 16 | 6 |
+---------------------+-----------------+---------+
Revenue breakdown by sectors
Revenue breakdown by geography
+-----------------------------------------+------------+------------+--------+
| Results9M 2007 (IFRS) | | MnE | |
+-----------------------------------------+------------+------------+--------+
| | SEP. 2007 | SEP. 2006 | % |
+-----------------------------------------+------------+------------+--------+
| | | | |
+-----------------------------------------+------------+------------+--------+
| TOTAL REVENUES | 2,750 | 2,508 | 10% |
+-----------------------------------------+------------+------------+--------+
| OPERATING COSTS | -967 | -884 | 9% |
+-----------------------------------------+------------+------------+--------+
| EBITDA | 1,782 | 1,625 | 10% |
+-----------------------------------------+------------+------------+--------+
| DEPRECIATION | -585 | -571 | 3% |
+-----------------------------------------+------------+------------+--------+
| | | | |
+-----------------------------------------+------------+------------+--------+
| OPERATING PROFIT (EBIT) | 1,197 | 1,054 | 14% |
+-----------------------------------------+------------+------------+--------+
| | -399 | | |
+-----------------------------------------+------------+------------+--------+
| FINANCIAL RESULT | | -399 | |
+-----------------------------------------+------------+------------+--------+
| | | | |
+-----------------------------------------+------------+------------+--------+
| EQUTY METHOD RESULT | 68 | 39 | |
+-----------------------------------------+------------+------------+--------+
| | | | |
+-----------------------------------------+------------+------------+--------+
| PRE-TAX PROFIT | 866 | 753 | 15% |
+-----------------------------------------+------------+------------+--------+
| | | | |
+-----------------------------------------+------------+------------+--------+
| TAXES | -245 | -264 | |
+-----------------------------------------+------------+------------+--------+
| | | | |
+-----------------------------------------+------------+------------+--------+
| PROFIT FOR THE YEAR | 621 | 489 | 27% |
+-----------------------------------------+------------+------------+--------+
| | | | |
+-----------------------------------------+------------+------------+--------+
| MINORITY INTERESTS | -63 | -33 | |
+-----------------------------------------+------------+------------+--------+
| | | | |
+-----------------------------------------+------------+------------+--------+
| NET ATTRIBUTABLE PROFIT PARENT COMPANY | 559 | 456 | 22.4% |
+-----------------------------------------+------------+------------+--------+
+--------------------------+------------+------------+
| Balance 9M 2007 (IFRS) | MnE | |
+--------------------------+------------+------------+
| | SEP. 2007 | DEC. 2006 |
+--------------------------+------------+------------+
| | | |
+--------------------------+------------+------------+
| TANGIBLE FIXED ASSETS | 9,626 | 9,610 |
+--------------------------+------------+------------+
| | | |
+--------------------------+------------+------------+
| INTANGIBLE FIXED ASSETS | 6,733 | 6,805 |
+--------------------------+------------+------------+
| | | |
+--------------------------+------------+------------+
| FINANCIAL INVESTMENTS | 2,902 | 1,856 |
+--------------------------+------------+------------+
| | | |
+--------------------------+------------+------------+
| CURRENT ASSETS | 1,023 | 946 |
+--------------------------+------------+------------+
| TOTAL ASSETS | 20,285 | 19,217 |
+--------------------------+------------+------------+
| | | |
+--------------------------+------------+------------+
| SHAREHOLDER'S EQUITY | 5,007 | 4,447 |
+--------------------------+------------+------------+
| | | |
+--------------------------+------------+------------+
| LOANS AND BONDS | 12,551 | 12,168 |
+--------------------------+------------+------------+
| | | |
+--------------------------+------------+------------+
| OTHER LIABILITIES | 2,727 | 2,603 |
+--------------------------+------------+------------+
| TOTAL LIABILITIES | 20,285 | 19,217 |
+--------------------------+------------+------------+
Appendix
Significant events in 3Q07
JANUARY 2007
saba sets up a new company. The company, set up with the Grupo Inerzia-Los Serranos consortium, is called Saba Aparcamientos de Levante and manages over 1,100 parking places with three car parks in Elche. abertis finalises the acquisition of 32% of Eutelsat. The transaction went ahead after all the competition authorities' requirements had been met. The operation, which requires a total investment of E1,077Mn, has been financed with a bridge loan taken out with six banks.
The EU anti-trust authorities reiterate the validity of the abertis/Autostrade merger. In a preliminary ruling, the European Commission has stated that the Italian government has violated European legislation by blocking the project and reiterates that, as a pan-European merger, it falls under EU jurisdiction.
FEBRUARY 2007
Change in HIT's shareholder structure. Following receipt of various offers for sanef, abertis sells its 5% stake in Holding d'Infraestructures de Transport SAS (HIT) -core shareholder group which controls 100% of sanef- to Caisse des Dépôts, while maintaining a 52.5% controlling stake.
Bionet agreement with Arasur. Araba Logística, the company which manages the Arasur logistics platform and in which abertis logística holds a stake, has reached an agreement with Bionet Europa (a company which produces biodiesel using vegetable oils as a raw material) to construct and operate the service station to be installed in the Arasur platform for the next 24 years under a leasing agreement. saba is awarded three car parks in Vilafranca del Penedès (Barcelona). Two are car parks offering 786 spaces and the third is a regulated on-street parking area with capacity for 585 vehicles.
iberpistas acquires 20.8% of aulesa. Following this operation, iberpistas, which already had a stake of 79.2%, now owns 100% of aulesa.
MARCH 2007
acesa presents in Tarragona its project to extend the AP-7 south toll road. The project involves the construction of a third lane on the Mediterráneo (AP-2/AP-7 junction)-Vila-seca/Salou (Tarragona) stretch of the road and the construction of a closed toll system between Martorell (Barcelona) and Vila-seca/Salou, with the subsequent elimination of the Mediterráneo, Vendrell and Tarragona toll barriers. abertis logística to develop a logistics park in the metropolitan area of Santiago de Chile. The investment for this park, which will occupy 63 hectares of land and 350,000 sq m of buildable area, will be made gradually over the next 10 years and amount to a total of E186Mn. sanef is awarded new contracts in Canada and Ireland worth E163Mn. The French concession group will install and manage a teletoll system on the M50 road in Dublin, with estimated ADT of 120,000 vehicles. This comes on top of the contract won in Canada for the supply, management and operation of teletoll technology on the Golden Ears bridge in Vancouver. iberpistas inaugurates the third Guadarrama tunnel on the AP-6 toll road. This new 3,148 metre-long tunnel has three lanes to Madrid and 13 escape galleries connected to the other tunnels. It forms part of the road network linking Madrid with the northeast of Spain. The project is part of a series of measures aimed at boosting traffic capacity on this route, for which E260Mn has been earmarked for investment.
Start up of the first private DTT multiplex in Catalonia. abertis telecom has begung test broadcasts on the first private DTT multiplex in Catalonia. Broadcasts will be made from the Collserola broadcasting centre in Barcelona.
Stockholm Skavsta obtains authorisation to expand to 6 million pax/year. The new authorisation, which triples the permission that the airport has had until now, will enable the long-term planning for the future expansion of Stockholm Skavsta, which currently has 1.7 million passengers per year.
APRIL 2007
Agreement between abertis telecom and the regional government of Navarra to roll out DTT. This project aims to make DTT available to 95% of the population of Navarra by October this year. Navarra is the first autonomous community to fully roll out national, regional and local DTT programmes simultaneously.
abertis telecom and Microsoft will work together on a project to develop DTT on the Internet. This collaboration forms part of the "TDT.COM" project, which involves evaluating and validating the architecture and service platforms necessary to support the broadcasting service for audiovisual content via the Internet, including access to live content.
MAY 2007
Board resolutions. abertis calls its General Shareholders' Meeting for 13 June. The abertis Board of Directors agrees to propose the payment of a gross final dividend of E0.25, to be paid in the last two weeks of June. Dividend payments amount to more than E304 Mn.
JUNE 2007
Communication to the CNMV regarding Hispasat. abertis confirms that its subsidiary abertis telecom has been in talks with Hispasat's private investors regarding acquiring their stakes. Nothing formal has been agreed. The communication states that any transaction affecting Hispasat's shareholder structure must be approved by the Spanish Cabinet. abertis' General Shareholders' Meeting. The General Shareholders' Meeting approves a gross final dividend charged against 2006 earnings of E0.25 per share, paid on 18 June. Also approved is the E91.2 Mn 1x20 scrip issue. abertis' Board of Directors announces it is to increase the 2007 dividend by 10%.
New abertis Board members. The appointment of the following people to the Board is approved at the General Shareholders' Meeting: Florentino Pérez Rodríguez (ACS), Javier Echenique Landiríbar (ACS) and Caixaholding S.A.U. (represented by Marcelino Armenter) as non-independent directors, and Emilio García Gallego as an independent director.
Saburdi agreement with Arasur. Araba Logística signs an agreement with Saburdi de Arasur to operate the catering facilities at the Arasur logistics park in Rivabellosa in which abertis logística holds a stake.
Stockholm Skavsta is connected to a further 13 European destinations. With these new routes this airport, which is managed by abertis airports, will see air traffic rise by 40% to 2.7 million passengers a year, making it Sweden's third largest. abertis completes group organisational restructuring. The appointments of Carlos del Río, new Managing Director of abertis airports, José María Morera, new Managing Director of Autopistas España and that of José Antonio López Casas as Managing Director of iberpistas follow those of Josep Lluís Giménez, appointed to acesa's Directorate General in May and Enrique Villalonga, named aumar's Managing Director in February. These changes are part of the company and business groups' organisational restructuring.
DTT agreement between abertis telecom and the Corporación Aragonesa de Radio y Televisión. Under the terms of this agreement, the Corporación Aragonesa de RTV's multiple DTT channel shall be used to broadcast high definition television tests. These tests form part of abertis telecom's commitment to developing high definition television.
Agreement between Arasur and Logento. Araba Logística has signed an agreement with Logento to rent a 10,000 square meter warehouse at the Arasur multimodal logistics park. saba acquires a car park in Las Palmas de Gran Canaria and manages another in Terrassa. The total cost of the Las Palmas transaction is approx. E10 Mn. The car park, located in the city's administrative centre, has 549 parking places. In Terrasssa, saba signs a ten-year management agreement for a car park with 272 parking places.
Sevisur Logística, owned by abertis logística, signs an agreement with Christian Salvesen. The agreement is to lease a 4,000 square meter building at the Zona de Actividades Logísticas (ZAL) industrial warehouse at the Seville Port.
JULY 2007
abertis enters the FT Global 500 ranking. abertis joins this ranking, which is published annually by the Financial Times, for the first time. It includes the world's leading 500 companies by market capitalisation. abertis formalises the Santiago de Chile logistics park project. Total investment in this project, which was announced in March, is E186 Mn. The new logistics park which has a buildable area of 350,000 square meters, contains warehouses and service buildings and is due to become operational in 2009.
acesa awards tenders for the works on the third lane of the AP-7 south. Construction between Mediterráneo and Vila-seca/Salou will begin in September.
The Spanish stock exchange regulator, the CNMV, approves the admission to trading of the new abertis shares, effective 2 August. The bonus issue carried out by the company leaves abertis' share capital at over E1,915Mn.
AUGUST
saba is awarded the management of the Girona airport car park. The car park has a capacity of 2,999 vehicles divided into areas for public use and use for employees, airline crews and car-rental companies.
Belfast International, run by abertis, reaches an agreement with Aer Lingus and Easyjet to open up 12 new destinations. The new routes will bring the airport more than a million new passengers per year, bringing the total to an estimated 6 million.
saba completes the process of adapting its car parks to the law improving consumer and user protection. All the company's facilities in Spain will charge per minute from 1 September.
SEPTEMBER
abertis once again present on the Dow Jones Sustainability World and European indices. The results of the 2007 review confirm the company's presence on the two sustainability indices.
abertis airports signs 10-year deal to manage two airports in the State of Georgia (USA). The company will manage, through TBI, the Middle
Regional Georgia and Herbert Smart Downtown airports, both of which are strategically located.
Arasur calls for tenders to build a 194-place guarded truck parking facility. The project is part of the development planned for platform's services areas, managed by abertis logística.
abertis acquires DCA, an ACS company with stakes in 15 airports in Latin America. The acquisition was for a total of E270.8Mn and bolster's abertis' position in the airport business.
Construction work begins on the third lane of the AP-7 south. Work will be carried out sequentially and by section to allow the widening to be progressive. The Mediterranean-Vila-seca/Salou section should be completed by the end of 2008. In all, acesa will invest E150Mn in the project.
saba obtains the concession to develop and operate a car park complex in Rome. With an investment of E92.5Mn in the Villa Borghese car park, this is one of the largest projects ever undertaken by saba.
Events after the balance sheet date
OCTOBER
abertis to become the main shareholder in Hispasat. abertis, through its telecommunications subsidiary abertis telecom, has reached an agreement with Enfaseca Holding Empresarial (formerly Auna) and BBVA -private shareholders of Hispasat- to acquire an 28.4% stake in the Spanish satellite operator. The agreement is subject to the authorisation of the Council of Ministers, without which it will not be effective, and the authorisation of the competition authorities.
Torrespaña celebrates its 25th birthday. The tower is one of abertis telecom's main centres, broadcasting 34 television programmes, 14 FM radio stations and 18 digital radio stations, and providing support for a wide variety of telecommunications services.
abertis' toll road network sustains positive traffic levels in the first nine months of 2007. In Spain, traffic rose 3.5%, with the roads of acesa, aucat, iberpistas and castellana registering the largest increases. abertis pays out an interim dividend of E0.28 per share (gross). The Board of Directors has resolved to commence the process of converting the class B shares into ordinary shares, thereby making all the shares of the same class and series.
Communication
Tel. +34 93 230 50 84/ 50 94/51 84
Tel. +34 91 595 10 54
[email protected]Investor Relations
Inst. Investors & Research
Tel. +34 93 230 51 26/ 50 57
Shareholder Office
Tel. 902 30 10 15
[email protected]Copyright Hugin