YEAR 2016 RESULTS PRESENTATION Concessions Energy Construction Services Property 4 th May 2017 Audited data December 2016
INDEX 1. Year 2016 turnover and EBITDA 4-5 2. Year 2016 financial statements 7 3. Year-end 2016 backlog 9 4. Internationalisation 11-12 5. Reorganisation of leased fixed assets 14 6. Energy division summary 16 7. Concessions division summary 18-20 8. Consolidated debt analysis 22 9. Year 2015 and 2016 ratios 24 10. Cash flow 26 11. Year 2016 significant events 28 12. 2016-2020 Strategic plan 30-31 13. Key business drivers 33 Audited data December 2016 2
1. YEAR 2016 TURNOVER AND EBITDA 3
1. 2016 Turnover and EBITDA 2016 CONSOLIDATED 2016 + CONSOLIDATED non consolidated VARIATION VARIATION CONCESSIONS (*) 2015 - 2016 2015 - 2016 -6,68% TURNOVER -6,17% 351,11 M€ 390,11 M€ -11,21% 65,71 M€ EBITDA 36,60 M€ -6,85% -4,84% -0,77% 10,42% 16,84% MARGIN Data in millions of euros (*) Includes data from concessions which do not consolidate in the annual accounts in the corresponding percentage (they are added using the equity method) Audited data December 2016 4
1. Year 2016 turnover and EBITDA business division breakdown 2016 TURNOVER % 2015-16 EBITDA 2016 % 2015-16 2016 MARGIN CONSTRUCTION (Nat. and Internat.) 134,56 14,39% 13,50 16,58% 10,03% BUSINESS DIVISION SERVICES 61,00 0,08% 6,02 -2,11% 9,87% ENERGY 138,77 5,70% 10,56 -30,43% 7,61% ASSETS 3,20 -94,22% -0,45 -135,16% -14,06% DEPENDENT CONCESSIONS 9,63 -16,19% 6,27** -10,81% 65,11% CONSOLIDATED GROUP TOTAL 347,16 -7,73% 35,90 -12,90% 10,34% + INDEPENDENT CONCESSIONS 39,00 -1,27% 29,11 0,72% 74,68% GROUP TOTAL (*) 386,16 -7,12% 65,01 -7,85% 16,83% 2016 TURNOVER (*) 2016 EBITDA (*) 12% 22% 1% 35% CONSTRUTION CONSTRUCTION SERVICES 36% SERVICES ENERGY 9% ENERGY 54% ASSETS ASSETS CONCESSIONS CONCESSIONS 16% -1% 16% Data in millions of euros (*) Includes data from concessions which do not consolidate in the annual accounts in the corresponding percentage (they are added using the equity method) ** EBITDA from dependant concessions includes cash-flow and earned interests from concessions that do not consolidate 5 Audited data December 2016
2. YEAR 2016 FINANCIAL STATEMENTS 6
2. Year 2016 financial statements GRUPO ORTIZ CONSOLIDATED UNAUDITED YEAR 2016 FINANCIAL STATEMENTS December December Profit and Loss statement 2016 2015 1. Net Turnover 347,159 376,252 2. Finished products and goods-in-process inventory variations -227 -47,431 3. Work carried out by the company for its assets 203 588 4. Supplies -212,038 -193,513 5. Other operating income 265 739 6. Personal expenses -70,846 -69,097 7. Other operating expenses -35,793 -32,706 8. Depreciation offixed assets -5,683 -4,050 9. Allocation of subsidies related to non-financial fixed assets 5 18 11. imparirment and profeit/loss due to disposal of fixed assets 187 906 12. Other results 3,170 1,814 Results of the loss of control in consolidated shareholding - -13 Negative impact of combination of businesses - - A.1) Operating profit/loss 26,402 33,506 13. Financial Income 3,771 4,748 14. Financial expenses -17,088 -17,036 15. Variation in fair value of financial instruments 360 -793 16. Exchange differences (FX) 2,295 -2,240 17. Impairment and losses on disposal of non current assets 604 -200 Other financial income and expenses - 366 A.2) Financial profit/loss -10,058 -15,156 Profit / (loss)-sharing of companies based on the Equity Method -5.733 -801 Impairment and profit/losses due to loss of significant influence - -96 Negative difference of consolidation based on the Equity Method 11 53 A.3) Rprofit /loss before taxes (EBT) 10,622 17,506 19.Corporate profit tax -5.649 -15,723 A.4) Financial Year consolidated profit/ lss from continuous operations 4,973 15,934 B) Interrumted operations 387 - Consolidated Result 5,360 15,934 * Concessions that do not consolidate: € 1,13 M “ Urbanizadora Gade ”: € -6,894 M unfavourable judgement by which the patrimonial tax regime is not applicable ** This paragraph include a -EUR 6.255m provision for (i) the tax deeds of Urbanizadora Gade for the fiscal periods 2005- 2007, which are pending judgment (from the “ Audiencia Nacional” high court), (ii) the amount owed to O.A.I. as a result of the favorable verdict which allowed it to apply a +EUR4.377m (+EUR1.045m interests) tax deduction for double taxation as shareholder of Urbanizadora Gade. 7 Data in thousands of euros Audited data December 2016
3. YEAR-END 2016 BACKLOG 8
3. Year-end 2016 backlog GRUPO ORTIZ ‘S YEAR -END 2016 BACKLOG VERSUS YEAR-END 2016 2015 BACKLOG Total backlog as of 31 st December 2016: € 4,13 billion ▪ Energy backlog: 30% increase versus 31 st December 2015 ▪ ▪ International construction backlog has dropped mainly due to the removal of Algeria now pending arbitration ▪ International backlog: 52% of the Total backlog, 57% of the Construction backlog and 80% of the Energy backlog 3.500,00 3.012,00 2.927,97 3.000,00 +4% 2.500,00 2.000,00 2015 1.500,00 -16% -33% +30% -11% 2016 1.000,00 525,59 443,68 353,70 342,11 321,97 500,00 270,75 61,90 55,02 0,00 Domestic CONSTRUCTION International Domestic and International PROPERTY CONCESSIONS (*) +SERVICES CONSTRUCTION ENERGY Backlog / Turnover (Construction + Services + Energy divisions): 3,19 years Data in millions of euros (*) Includes data from concessions which do not consolidate in the annual accounts in the corresponding percentage (they are added using the equity method) Audited data December 2016 9
4. INTERNATIONALISATION 10
4. Internationalisation Internacionalización del Grupo MEXICO FRANCE ENERGY Photovoltaic power plant O&M - HV power lines and substations - Photovoltaic power plant ROMANIA Integrated Water Management GUATEMALA Photovoltaic power plant O&M EL SALVADOR ITALY Photovoltaic power plant O&M JAPAN CONSTRUCTION CONSTRUCTION 10 MW Photovoltaic power plant EPC Photovoltaic power EPCs HONDURAS - 25.4 MW plant Photovoltaic power plant O&M - 21.0 MW plant - 0.5 MW plant PANAMA CONSTRUCTION - Water treatment - Comprehensive Restoration PERU CONSTRUCTION - Hospitals - Roads - Water treatment ENERGY COLOMBIA - HV power lines and substations CONCESSIONS - 4G Roads CONSTRUCTION CHILE - Water treatment CONSTRUCTION - Roads 50 MW Photovoltaic power plant EPC - Building Implemented in the country With energy and water treatment projects INTERNATIONAL EXPANSION STRATEGY Implemented in Latin American countries with sustained growth and legal stability (Colombia, Peru, Panama and Mexico) Energy EPC from clients all over the world (projects in Japan, Chile, Honduras, Guatemala, El Salvador and Mexico) 7 Audited data December 2016 11 Datos Auditados de Diciembre 2015
4. Internationalisation TURNOVER OF YEAR 2016 Construction 28% ▪ International Turnover of the whole Group: 45% Domestic Construction ▪ International Turnover of the Energy Division : 85% International Construction 72% 15% Energy Countries 2016 Turnover Colombia 14,33 Domestic Energy International Energy Peru 13,51 85% Panama 10,27 BACKLOG AS OF 31 ST DECEMBER 2016 El Salvador 3,00 Construction Chile 75,77 43% Mexico 25,85 Domestic Construction International Construction Romania 3,24 57% Japan 9,00 Others (Italy, France, Guatemala and Honduras) 2,15 20% Energy TOTAL 157,12 Domestic Energy International Energy 80% Data in millions of euros 12 (*) Includes data from concessions which do not consolidate in the annual accounts in the corresponding percentage (they are added using the equity method)
5. REORGANISATION OF LEASED FIXED ASSETS 13
5. Reorganisation of leased fixed assets REORGANISATION OF LEASED FIXED ASSETS GRUPO ORTIZ PROPERTIES S.A. Equity (2016): € 18,917 M + Reserves € 54,779 M = € 73,696 M 100% ORTIZ Equity (today): € 23,017 M + Reserves € 67,072 M = € 90,089 M 19,361 m 2 Other assets: RICS Appraisal for leased fixed assets: 3,028 m 2 Offices: Business premises: 2,356 m 2 € 150,27 M Warehouses: 6,015 m 2 Business premises : 22 business premises Garage Stalls 159 stalls Service Station RICS Appraisal Total : € 25,86 M 100% GOP 100% GOP 100% GOP Aldigavia Oficinas S.A.U. 30,000 m 2 RICS Aldigavia S.A.U. 25,496 m 2 RICS Ortega y Gasset Park S.A.U. 24,258 m 2 RICS 97 homes Car park 18,32 Colmenar Viejo 14,20 19,07 La Gavia Office (plot 2.50) 21,55 20,04 Paracuellos 180 homes La Gavia Office (plot 2.72) 20,04 La Gavia Office (plot 2.91) 8,72 Alcalá de Henares 80 homes Aldi 2,47 RICS Appraisal Total : RICS Appraisal Total : € 61,62 M € 18,32 M € 44,47 M RICS Appraisal Total : 14 * Data in millions of euros
6. ENERGY DIVISION SUMMARY 15
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