UN PREMIER SEMESTRE POSITIF POUR ABERTIS GRÂCE A SA DIVERSIFICATION GEOGRAPHIQUE ET SECTORIELLE

Le modèle de croissance du groupe, associé à une politique de contrôle des coûts stricte, absorbe l'impact du ralentissement économique et soutient la croissance du chiffre d'affaires, de l'EBITDA et du bénéfice net. Le trafic des autoroutes à péage a eu tendance à se stabiliser au second trimestre.


- Chiffre d'affaires : 1.842 millions d'E (+ 3,7 %).
- EBITDA : 1.141 millions d'E (+ 2,7 %).
- Flux de trésorerie net : 700 millions d'E (+ 2,9 %).
- Bénéfice net : 332 millions d'E (+ 0,6 %).
- Investissements : 919 millions d'E.

* 50 % du chiffre d'affaires et 46 % de l'EBITDA ont été générés hors de l'Espagne et 26 % du chiffre d'affaires provient de la diversification.

* Abertis invested over E900Mn in 1H09 in expansion capex (mainly Itínere's assets in Chile and Spain and the rollout of TDT), furthering its strategy of diversifying its sector and geographic mixes and consolidating and strengthening its positions in existing shareholdings.

* Abertis' debt structure remains stable and solid, with the average cost of debt falling 0.6%.

- 92 % of total debt is long term; 72% of this is at fixed rates or fixed through hedging and 56% is non-recourse. abertis' healthy cash flow generation and the boost to the scope of consolidation have enabled the company to maintain the sector's highest corporate credit rating (A-).

* Traffic figures for Abertis' toll road network showed a decline of 4% through 30 June, a considerable improvement on the 8.8% fall in 1Q09. Traffic on the French toll roads managed by Sanef (half of Abertis' total network) was positive in May and June.

* Toll road revenues in 1H09 amounted to E1,360Mn (+2%).

- Average daily traffic (ADT) on Sanef's network through June was 22,733 vehicles (-1.8%). In South America (Chile and Argentina), ADT was 45,834 vehicles (-0.9%).

- In Spain, where traffic had fallen most, there was also an ease in the pace of decline. ADT in Spain to 30 June was 22,707 (-9.8% vs. -12.4% in 4Q08 and -17.1% in 1Q09).

* In the diversified businesses, the positive performance of the telecommunications business boosted the Group's growth, while the car parks business remained stable.

- abertis telecom had revenues of E253Mn (+26.6%). This growth largely reflects the addition of Hispasat to the consolidation scope in the second half of 2008, and the rollout of Digital Terrestrial Television (DTT), which now covers 95% of the population (over 44 million people). The company has also won new contracts, including one for Spain's Maritime Rescue Service and others to supply new services.

- The satellite sector continued to perform well. Eutelsat, consolidated using the equity method, contributed E24Mn in the first half of the year, while Hispasat, consolidated using proportionate consolidation, contributed E12Mn. In all, the satellite business added a net E16Mn (including the financing costs of the acquisitions) to the profits of abertis.

- Revenues at abertis airports totalled E136Mn (-6.2%). The inclusion of Desarrollo de Concesiones Aeroportuarias (dca) -consolidated from 31 March 2008- was not enough to offset lower activity levels at British operator tbi, where passenger traffic fell 10% (to 10.6 million), and the impact of the pound's (13%) depreciation against the euro.

- saba, abertis' car parks division, made a positive contribution in 1H09 as a result of changes in the consolidation scope. Revenues were E71Mn (+8.7%), with 27 million vehicles in rotation (+5.8%), a 2.3% increase in the number of pass holders and 21% more spaces.

- In the logistics parks business, constructed area grew 9.2% compared with the first quarter (to more than 480,917 square metres); while abertis logística's business tapered off due to lower occupancy rates. Revenues were down by 47.1% at E15Mn, although comparisons with 2008 are skewed as last year's figures included gains from the sale of the stake in Port Aventura. The warehouse and office occupancy rate was 78.2%.

* Abertis Infraestructuras's board of directors has approved the appointment of Francisco Reynés as a new member of the Executive Committee in place of Manuel Raventós.

Studies and Communications Corporate Direction
Tel. +34 93 230 50 84 / 93 230 50 94
Tel. +34 91 595 10 54
[email protected]
www.abertis.com/press

Investors Relations
Institutional investors and Analysts
Tel. +34 93 230 51 26 / 93 230 50 57
Shareholders' Office
Tel. 902 30 10 15
[email protected]

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