March 01, 2007 02:27 ET

ABERTIS: Revenues advanced 75%, EBITDA rose 74% and recurring net profit increased 22%.

BARCELONA, SPAIN -- (MARKET WIRE) -- March 1, 2007 -- Barcelona - March 1, 2007. The increase in abertis' key figures reflects the consolidation of its internationalisation and diversification strategy.

Revenues advanced 75% to EUR 3,335 Mn with Sanef contributing EUR 1,241 Mn.

EBITDA totalled EUR 2,099 Mn (+74%).

Like for like net profit -stripping out the effect of the reduction in Corporate Income Tax and one-off gains in 2005- totalled EUR 572 Mn (+22%).

Net cash flow was up 48% at EUR 1,221 Mn.

Capex totalled EUR 3,590 Mn, mainly for expansion projects (in France, Spain, Italy and the UK) across all business areas.

Traffic on abertis' Spanish toll road network grew 5.2% with revenues up 9.2%.

Outstanding performance from Abertis Telecom with revenues up 31%, due to the launch of DTT in Spain, offering 20 five multiplex channels which will be available to 85% of the population by July 2007.

The application of the new Corporate Income Tax regime will see tax rates reduced to 32.5% in 2007 and 30% as of 2008 vs. 35% at present. This will have a positive impact of EUR 200 Mn over the next five years even though it had a negative effect of EUR 42 Mn in 2006 due to the effects of changing over from Spanish GAAP to IFRS and the recording of tax credits at 35%.

48% of abertis' revenues were generated abroad (18% in FY05) whilst EBITDA from international operations stood at 43% (11% in FY05).

2006 was a very positive year for all the abertis group's business areas, reflects its strategy of internationalisation, diversification and selective growth:

In the toll roads division, the acquisition of sanef was finalised in February 2006, traffic volumes rose 5.2% in Spain and 3.4% in the entire abertis network including sanef (+1.2% and +3.9% in 4Q06) and GCO in Argentina (+10.1%).

Internationalisation of abertis telecom, with the announcement in December of the acquisition of 32% of the satellite operator Eutelsat -this was formalised in January 2007-, and the company played a key role in the rollout of Digital Terrestrial Television (DTT) in Spain.

In the airports business, passenger numbers rose 4% to over 22 million for the entire abertis airports network; TBI was fully consolidated and investment was earmarked to increase capacity at its main airports.

Sustained international growth in the car parks business. saba's presence in Italy increased and contracts for various projects in Spain were awarded such as the first car park concession in Pamplona.

In the logistics infrastructure business, highlights included the internationalisation of abertis logística, following the announcement in July of a new logistics platform in Portugal and the growth of its platforms in Álava and Seville.

The abertis board of directors has resolved to propose not only the traditional 1x20 bonus share issue at the forthcoming General Shareholders' Meeting on 16 April, but also the payment of a final gross dividend for 2006 of EUR 0.25 per share bringing the total dividend for 2006 to EUR 0.50 per share (5% higher than the amount paid in 2005).

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