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COMISIÓN NACIONAL DEL MERCADO DE VALORES Paseo de la Castellana, 19 28046 Madrid
Madrid, 29 de enero de 2013
Muy Sres. nuestros: ACCIONA adjunta presentación relativa a la División de Acciona Agua con motivo de la reunión con Analistas convocada para el día de hoy. La presentación se encuentra asimismo disponible a través de la Web de ACCIONA (www.acciona.es).
________________________ Jorge Vega-Penichet López
Secretario del Consejo
January 2013
1 Global Water Market
2 ACCIONA Agua Today
3 ACCIONA Agua Tomorrow
Intensive Local Commodity
ServicesEquipmentInfrastructure
GLOBAL
WATER
MARKET Water is more a “social commodity” than a economic market
Not Selling Water
Phisical & SocialMunicipalitiesVery local Industry
Water is free in natureWater is a basic necessityInfrastructure Subsidized
Where is the business?
Where is the business?
SCARCITY URBANISATION
• More than 50% of Population today lives in cities.
• Environmental impacts
• Health issues
• Quality of life issues
• More than 40% of Population. today lives in areas with water stress.
• Water is not “free”.
• Population rises.
• Water for Resources ( food, mining, oil & gas) rises.
0
50
100
150
200
1950
1955
1960
1965
1970
1975
1980
1985
1990
1995
2000
2005
2010
Liters per Capita per Day
Water Demand
Population 2012: 7,000 M
Population 2050: 9,000 M
Source: Global Water Intelligence
SCARCITY
100,000
120,000
140,000
160,000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Water OPEX
Water Opex
$ billion
SCARCITY
0
30,000
60,000
90,000
120,000
150,000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Water Resources (including desalination)
Water Treatment Plants (new and rehabilitation)
Water distribution networks (new building and rehabilitation)
High Value & Technology Business
Drinking water CAPEX
$ billion
Source: Global Water Intelligence
High Value & Technology Business
0
20,000
40,000
60,000
80,000
100,000
120,000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Wastewater Networks (new and rehabilitation) Water Treatment Plants (other)
Wastewater CAPEX
$ billion
$ billion
URBANISATION
50,000
70,000
90,000
110,000
130,000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Wastewater Opex
Wastewater Opex
Source: Global Water Intelligence
Security of supply$30bn
CAPEX 2011$173bn
Standstill requirements: $211bn
Annual depreciation of existing assets
$83 bn
Organic growth$38bn
Meeting regulations$60nn
Security of supply$30bn
Catching up on past depreciation
$83 bn
Closing infrastructure gap$67bn
Up-gradingregulations$180bn
Catch -up requirements : $571bn
Actual Required
Source: Global Water Intelligence
WATER RESOURCES CAPEX
WATER NETWORK ( New & Rehab)
PLANTS (Potable & Waste Water)
High Value & Technology Business
High Value & Technology Business
18%
49 %
33 %
The Investment GAP
0
50
100
150
200
250
2010 2016
Capital contributions
International aid
Net international financial institution debt
Net commercial debt and equity
Net municipal lending
Operating cashflow
$ billion
Source: Global Water Intelligence
TariffGrowth
Water Infrastructure CAPEX (M€)
Trends Consequences
New Regulations
More Efficiency
More Equity
Solve Environmental Issues
Solve Health Issues
Need to increase water Reuse
Sludge Disposal & Valorization
Bigger Concentrated Facilities
URBANIZATION
More Private participation
More Technology
Need of more & New Resources
SCARCITY
The business is here
ALL BUSINESS OPPORTUNITIES
• Our Global Position
• Our Model
• SWOT
• Internal Challenges
2. ACCIONA Agua TodayACCIONA AGUA TODAYACCIONA AGUA TODAY
• Desalination: Worldwide leader
– 70 References
– 2 million m3/d.
• Conventional Drinking & Wastewater: Top 3
– 400 references
– The largest WWTP in the world
• Operation & Maintenance:
– International Player in 2-3 years.
– More than 100 conventional plants operating
• Water Concessions
– Spanish Player
Our global visibility and position
Turnover in D&C and O&M
€1.2 b
€M
€1.5b
SPAIN
CADAGUAABENGOAVALORIZAINIMA
AQUALIA
ATLATEC
MEXICO
ISRAEL
IDE
SINGAPOURE
HYFLUX
DOOSANSAMSUNG
KOREA
BRAZIL
ODEBRECHT
400 m€
International market: Competitors (D&C + O&M)
197227
275
370
438 454413
512
0
10
20
30
40
50
60
70
80
90
100
0
100
200
300
400
500
600
700
2005 2006 2007 2008 2009 2010 2011 2012 2013
TURNOVER & EBITDA
M€
8
9
7
1011
17 16
0
5
10
15
20
25
30
2005 2006 2007 2008 2009 2010 2011 2012 2013
EBT
M€
EBIEBT
2011
Turnover - EBT - EBITDA
ACCIONA Agua Backlog
2,441
3,2683,595
4,538
4,812
4,747
5,080
0
1,000
2,000
3,000
4,000
5,000
6,000
2006 2007 2008 2009 2010 2011 Oct-12
BACKLOG
M€
D&C€830m
O&M€1,733m
SERVICES€2,517m
ATLL NOT INCLUDED
ATLL:Privatization
Santomera&
La Union
FujairahSWRO
SiniscolaItaly
EL CARACOLMéxico
2012 New Contracts
SAN JOSECosta Rica
EL BELLOColombia
Al JubailSWRO
ELWASTEWATER TREATMENT PLANT
SERVICES/O&M/PRIVATIZATION
DRIKING WATER TREATMENT PLANTS
DESALINATIONS PLANTS
O&MHADDA 1 & ARANA 1
RABATMorocco
Capacity: 211 hm3
(equivalent to 300 Olympic
Swimming pools/day)
POPULATION: 5 million
(over 7.6 million) and 116
municipalities
50 Years Concessions
ATLL contract
ConstructionDesign
Water Concessions /
Integral Services
FacilitiesConcessions
(BOTs)O&M
R+D
CLIENT
R+D+i R+D+i R+D+i
Total Solution Provider
ConstructionDesign
Water Concessions / Integral Services
FacilitiesConcessions
(BOT)O&M
CLIENT
R+D
Spain
Intern.NO
PRESENCE
NO MARKET
NO PRESENCE
Business Providing Cash
Business Consuming Equity
���
������
��� ���
��
���
Total Solution Provider
• Regulatory Business• Industrial Sector• O&M: Searching new markets
2. Future DevelopmentACCIONA AGUA TOMORROW
BUSINESSMODEL
INTERNATIONAL IMPLEMENTATIONCLIENTS
INNOVATION
-Differentiation
-Market “Niches”
-Less competitors
-More profitability
Looking for more profitability
BUSINESSMODEL
Increase International O&M Offer
“Regulated Services” Offer
BOT´s & Financed Business
� Reduce our convent. presence in Spain� Search for international O&M
� New Partners:• Look for competitive debt• Look for equity partners
� Spain: Big opportunity 2013/2014� International: Mid term opportunity
Business Model
Water Price in Spain is “still” very lowBUSINESSMODEL
Business Model
Water Services in Spain
Jerez210,000 hab.
Lanzarote
145,000 hab.
Zaragoza675,000 hab.
CYII6,500,000 hab.
Burgos180,000 hab.
Lugo98,000 hab.
Reus100,000 hab. • Privatisation forecast: from50% to 60%/70%
• Regional WW & Sanitation plans to come up as concessions (i.e. Castilla La Mancha)
• Private investment needs for 2013-14 in the range of EUR 1,500M
Important activity expected for water services in Spain
Need to attract investors to Spain !!!
Mid to High ROIs
Business Model
BUSINESSMODEL
Mining Pharmaceuticals Electronics &Computers
Oil & Gas Food & Beverage
Automotive Metal &Engineering
Chemical & Synthetics
Construction &Building Materials
Communications &
Media
Finance, Insurance & Securities
Trade & Retail Utilities Transport
75% 75% 74% 71% 66% 62% 50%
100% 100% 95% 92% 90% 81% 80%
Source:KPMG
250 Largest companies addressing water issues in their CR reports
CLIENTS
Clients
0
2000
4000
6000
8000
10000
12000
14000
2011 2012 2013 2014 2015 2016 2017 2025
Others
Mining
Power Generation
Refining and petrochemicals
Oil and gas
CAGR 11.4%
$ m
illion
Water Business: Industrial Segment
Source: Global Water Intelligence
CLIENTS
Clients
INNOVATION R+D+I mission: two obsessions…
1.Business Support
2.Thinking Ahead
Innovation
ActiDaff®
Speed FLoater(External Provider)
UltraDaff®
ActiDaff-Evolution
UltraDaf-Evolution
SWRO Torrevieja2005
SWRO Fujairah2011
SWRO Al Jubail2012
Future Bids
Own Technology
35 % CAPEX Saving
Business SupportINNOVATION
INNOVATION
Innovation
Forward OsmosisNew Technologies
•Technology based on the natural osmosis
•It uses a salt which precipitates or evaporates as the temperature of the water increases
•It takes advantage of residual heat as well as solarenergy
•Agrement signed with Oasys, an Americanstart-up
INNOVATION
Thinking Ahead:5 or more yearsINNOVATION
Innovation
INTERNATIONALIMPLEMENTATION
BIG CITIES
LATAMMENA
Spain, Italy & Portugal
ASIA / PACIFIC
BIG CITIES &
SCARCITY
SCARCITY
ThankYou
January 2013
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