2006 Results 2006 RESULTS. Madrid, February 27, 2007 CONSTRUCCION CONSTRUCTION CONSTRUCTION SERVICES SERVICIOS SERVICES CEMENTO CEMENT INMOBILIARIA

Transcription

1 2006 Results CEMENT Madrid, February 27, 2007

2 Mr.. Rafael Montes CEO 2

3 Historic Results Presentation Strategic Plan Execution FCC s Commitments 2007 Estimates 3

4 Historic Results Growth 2006 Estimated Real Revenues 9,481 12% 33.7% EBITDA 1,387 12% 40.3% Net Profit % - 20% 27.1% Growth breakdown Revenues International contribution +33.7% % Through acquisitions; 17.1% 703 Organic; 16.6% 9.9%

5 Revenues Construction 49% Strategic Plan Objective 2008 Proforma* * 2006E Services 37% 6,349 10,000 12,000 12,000 11,700 Construction 44% Services 40% Cement 14% Cement 16% International Revenues 10% 30% - 35% 36% Others 2% Others 2% EBITDA Construction 21% Services 45% Construction 17% 842 1,200 1,500 1,750 Services 46% Cement 32% Cement 35% Gearing with recourse 10% <50% 49% ND with recourse /EBITDA 0.3x <3.0x 2.6x * Includes full year for all the acquired companies. 5

6 Construction 12% Cement 31% Services 57% Strategic Plan execution INVESTMENT: >5,000 mn mn International 64% Spain 36% UNITED KINGDOM > 2,000 mn EASTERN EUROPE >1,150 mn Bosnia 6

7 FCC s Commitments TRANSPARENCY TRANSPARENCY VISIBILITY VISIBILITY CORPORATE CORPORATE RESPONSIBILITY 7

8 Mr.. José Trueba CFO 8

9 Key Figures % ch. Revenues 9,481 7,090 34% Net Profit % EPS % Funds from Operations 1, % Net Debt -5, Gearing with recourse 49.1% 11.5% Investments 4, Backlog 30,510 20,497 49% 9

10 Income Statement % ch. Net Sales 9, , % EBITDA 1, % Margin 14.6% 13.9% Depreciation and amortisation % EBIT % Margin 9.3% 9.3% Interest, etc % Other operating income N/A Equity-accounted affiliates % EBT % Corporate income tax % Minority interests % Net Profit % 10

11 Results by areas Net Revenues % ch. Construction 4, , % Environmental Services 2, , % Versia % Cement 1, % 2006 Net Revenues Environ. Services 30% Versia 9% Construction 46% Torre Picasso % Other % Cement 15% TOTAL 9, , % EBITDA % ch EBITDA Construction % Environmental Services % Versia 8% Construction 19% Versia % Cement % Environ. Services 36% Cement 35% Torre Picasso % Other % TOTAL 1, % 11

12 Cash flow and net debt % ch. Operating Cash Flow 1,159 1, % Investment Cash Flow -4, % Financing Cash Flow % Other changes in Net Debt Net Debt Variation -4, Net Debt 5, Net Debt with recourse 3, Net Debt & Gearing with recourse Operating & Investment Cash Flow 3,296 4, % % 338 1,018 1,159 x 5 times % Operating CF Investment CF 12

13 Net debt by areas Total With recourse Without recourse Construction Services -3,656-2,480-1,176 Versia Cement -1, Other Total -5,204-3,233-1,971 Area breakdown Type breakdown Versia 9% Cement 25% Construction 3% Services 63% Without recourse 38% With recourse 62% 13

14 Cash flow by areas Operating Cash Flow % ch. Construction % Services % Versia % Cement % Other % 2006 Operating CF Cement 28% Versia 4% Other 2% Construction 27% Environ. Services 39% Total 1, , % Investment Cash Flow % ch Investment CF Construction % Services 2, % Versia % Cement 31% Construction 13% Cement 1, % Other % Versia 3% Environ. Services 53% Total 4, % 14

15 Results by areas 15

16 Environmental Services % ch. Revenues 2, , % EBITDA % EBITDA Margin 17.7% 16.5% 2006 Revenues International 23.7% EBIT % EBIT Margin 8.8% 9.7% Domestic 76.3% Operating Cash Flow % Investment Cash Flow -2, % Financing Cash Flow % Net Debt 3, % Revenues (% and change) Backlog 22, , % 5.4% 9.6% 27.4% +45.9% % 5.8% 22.4% Industrial Waste International +24.8% 25.1% Water 57.6% +10.8% 46.7% Urban Sanitation

17 Versia % ch. Revenues % EBITDA % EBITDA Margin 12.0% 15.3% 2006 Revenues International 23.3% EBIT % EBIT Margin 6.7% 7.8% Domestic 76.7% Operating Cash Flow % Investment Cash Flow % Financing Cash Flow % Revenues (% and change) Net Debt % Backlog % 3.9% 5.7% 7.6% 8.3% 12.9% 23.2% +10.5% +8.3% +4.7% +20.2% 2.8% 3.6% 5.1% 6.6% 8.3% 13.7% 21.3% SVAT Mass Transport Vehicle Testing Maintenance & Systems Parking Site furniture +27.3% Handling 38.3% +10.1% 38.5% Logistics +20.9%

18 Construction % ch. Revenues 4, , % EBITDA % EBITDA Margin 6.1% 5.7% 2006 Revenues International 11.2% EBIT % EBIT Margin 5.5% 4.7% Domestic 88.8% Operating Cash Flow % Investment Cash Flow % Financing Cash Flow % Revenues and Construction type backlog Net Cash % 14% 11% Residential building Backlog 7, , % 27% 24% Non-residential building 59% 65% Civil Engineering Revenues Backlog 18

19 Cement % ch. Revenues 1, % EBITDA % EBITDA Margin 33.1% 31.9% 2006 Revenues International 24.1% EBIT % EBIT Margin 22.8% 22.0% Domestic 75.9% Operating Cash Flow % Investment Cash Flow -1, % Financing Cash Flow % Net Debt 1, % 19

20 Real Estate Torre Picasso % ch. Revenues % EBITDA % EBITDA Margin 83.4% 88.4% EBIT % EBIT Margin 75.3% 74.3% Realia % ch. Realia Revenues (% and change) Revenues % EBITDA % 1.9% 12.3% -1.4% +32.6% 1.6% 12.9% Services EBITDA Margin 39.3% 39.6% Rental EBIT % 85.8% 85.5% EBIT Margin 39.8% 37.3% Net Profit % +10.6% Real estate development Pre-sales backlog ,7 1.1% % Occupancy 96.5% 94.7%

21 2006 Results CEMENT Madrid, February 27,

22 Disclaimer It is expressly stated that any information regarding Realia contained herein, does not constitute and cannot be interpreted as an offering or invitation to buy or acquire Realia shares in the United States, Canada, Japan, or in any other country where an offering or invitation of this kind is illegal. Realia s shares are not and will not be registered under the United States stock market laws (U.S. Securities Act of 1933 and its modifications). Realia s shares cannot be offered or sold in the United States unless previously registered, or with application of a registry exemption, according to the United States stock market laws (U.S. Securities Act of 1933 and its modifications), or in any other country unless complying with the applicable laws. There is no intention to either register or announce an initial public offering on Realia s shares in the United States. This document is not a request of monies, and if sent based on the information contained herein, would never be accepted. " 22