Abengoa Sa · OTC:AGOAF
Abengoa Sa — Q1 2008 Earnings Presentation
15 slides from Abengoa Sa's earnings presentation, May 14, 2008
Slide 1: First Quarter 2008 Earnings Presentation
First Quarter 2008 With the sun … we produce Earnings Presentation thermoelectric and photovoltaic electric energy May, 14th 2008 With biomass … we produce ecologic biofuels and animal feed With wastes … produce new materials through recycling, and we treat and desalinate water With Information Tech
Slide 2: Forward-Looking Statement
ABENGOA Forward-Looking Statement This presentation This presentation contains contains forward-looking forward-looking statements statements and and information relating information relating toto Abengoa Abengoa thatthat are are based based on on the the beliefs beliefs of of its its management as
Slide 3: Agenda
ABENGOA Agenda 1. Q1 2008 Highlights 2. Q1 2008 Detailed Financial Analysis 3. Q&A 3
Slide 4: Q1 2008: Main Figures
ABENGOA Q1 2008: Main Figures Strong growth in Sales and Profit YoY % Sales 876.2 M€ + 28.4% Operating Cash Flow 182.8 M€ + 138.8% Ebitda 158.0 M€ +106.4% Profit before tax 55.9 M€ + 62.8% Net Income 35.0 M€ + 54.7% Net Income pro forma* 29.8 M€ +31.9% EPS 0.39 € + 54.7% * Non includin
Slide 5: Agenda
ABENGOA Agenda 1. Q1 2008 Highlights 2. Q1 2008 Detailed Financial Analysis 3. Q&A 5
Slide 6: Sales, Operating Cash Flow and Net Income
ABENGOA € in Millions Sales Operating Cash Flow Sustained Revenue Growth Improved Operating Performance 3.214,5 % 2.677,2 57.2 452,4 % 28.4 287,9 8 % 876,2 138. % 182,8 20.1 682,4 14.1% 10.7% 76,6 20.9% 11.2% 2006 2007 Q1 Q1 2007 2008 2006 2007 Q1 2007 Q1 2008 Net Income Net Income excluding extraor
Slide 7: Contribution by Business Unit: Sales Growth
ABENGOA Contribution by Business Unit Sales Growth € in Millions 1.000,0 + 160,1 (+68.2%) Increase in 950,0 execution: (91,9) - Solar (internal sales) 876,2 900,0 - Ethanol - Power (+28,4%) 850,0 External: +62.9 M€ (+30%) + 76,7 (+54.4%) HV lines: +5.3 M€ (+24%) 800,0 +28,5 Brazil + 50,9 (+16.0%) 75
Slide 8: Contribution by Business Unit: Ebitda Growth
ABENGOA Contribution by Business Unit Ebitda Growth € in Millions + 33,8 170,0 (+120.7%) (6,5) 158,0 160,0 Higher margins (internal Ebitda) (+106.4%) in HV lines in 150,0 Brazil : - In execution External: +22.9 M€ (+168%) 140,0 + 44,4 - In operation (+168.5%) HV lines: +4.4 M€ (+22%) 130,0 120,0 Non
Slide 9: Homogenous Net Profit
ABENGOA Homogenous Net Profit Net Profit Growth € in Millions 40,0 35,0 +54,7% 35,0 + 12,4 30,0 29,8 +31,7% (16,8) 25,0 + 11,6 20,0 22,6 15,0 Q1 2007 Business Units Q1 2008 Land divestment Changes in Q1 2008 Consolidation pro forma Perimeter 9
Slide 10: P&L Account
ABENGOA € in Millions, except EPS P&L Account Q1 2008 Q1 2007 Var (%) Net turnover 876 682 28% Operating Cash Flow * 183 77 139% Ebitda 158 77 106% Depreciation and amortization expenses (47) (15) 217% Net Operating Profit 111 62 80% Net Financial Loss (55) (27) 101% Consolidated Profit before Tax 5
Slide 11: Intragroup activities and results by business unit
ABENGOA Intragroup activities fully eliminated at Consolidated P&L… …but relevant for cash-flow generation perspective Net Profit eliminated is recovered over the life of the project as a lower depreciation charge. Elimination of 91.9 M€ of sales, 6.5 M€ of EBITDA and 4.0 M€ of Net Profit in
Slide 12: Enclosed Quarters: Margins
ABENGOA Enclosed Quarters: Margins Strong Strong operating operating performance performance in in all all our our business business 20% 16,2% Solar 10% 0% 15% 14,4% 7,4% 8,1% Bioenergy 10% 9,5% 5,9% 5% Environm. 30% 33,1% Services 21,0% 16,8% 14,4% 20% 13,6% 11,8% pro forma 10% 15% 10,4% 11,6% 9,8%
Slide 13: Projects timeline
ABENGOA Projects timeline Main Main Projects Projects in in execution execution 2008 2009 2010 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 PS 20 Start-up Q1 09 Solnova 1 Start-up Q4 09 Solnova 3 Start-up Q2 10 Solar Algeria Q3 10 Start-up Solnova 4 Q4 10 APS Waiting for I
Slide 14: Agenda
ABENGOA Agenda 1. Q1 2008 Highlights 2. Q1 2008 Detailed Financial Analysis 3. Q&A 14
Slide 15: First Quarter 2008 Earnings Presentation
First Quarter 2008 With the sun … we produce Earnings Presentation thermoelectric and photovoltaic electric energy May, 14th 2008 With biomass … we produce ecologic biofuels and animal feed With wastes … produce new materials through recycling, and we treat and desalinate water With Information Tech