20100315 Fcc Corporativa Ingles 2009

Servicios CiudadanosServices for Citizens

Corporate PresentationInvestor Relations

1. Strategic Framework2. Description and Business Model3. Business Areas4. Appendix

Services for Citizens


summary

Strategic Framework1.1 Urban Growth

1.2 Investment in Infrastructure

1.3 Sustainable Cities




Urban Growth

5* Source: "World Urbanization Prospects: The 2007 Revision Population Database" - United Nations Population Division

The urban population has increased by almost 50% since 1990 and is expected to expand further by almost 50% by 2030

Rapid growth of cities requires large investments in transport, water, electricity and telecommunications infrastructure

World Population & Urban Concentration Percentage 1990 -2030*

5.000

5.500

6.000

6.500

7.000

7.500

8.000

8.500

1990 1995 2000 2005 2010 2015 2020 2025 2030

60%

55%

43%45%

47%

49%

51%

53%

57%

40%

45%

50%

55%

60%

65%

8 1%78%

75%73%71%

1990 2000 2010 2020 2030

OECD Countries

Mn. Inhabitants % Urban Pop.


Investment in Infrastructure

6* Source: “Infrastructure to 2030” – OECD 2006

** Water estimates refer only to OECD and BRIC countries

Estimated Annual Investment in Infrastructure 2010-2020 (M$)*

0 100.000 200.000 300.000 400.000 500.000 600.000 700.000 800.000 900.000

OECD

TotalRailways

Roads

Electricity

Telecoms.

Water**

In view of the rapid growth of cities, the OECD predicts investment worldwide of over 2 thousand billion dollars per annum on infrastructure between 2010 and 2020

More than half of that investment will take place in OECD countries

The role of the private sector is increasing


Sustainable Cities

7* Source: “Infrastructure to 2030” – OECD 2006

Sustainable Urban Infrastructure (OECD)*

Efficiency and reuse of wastewater

Paper, cardboard, plastic and packaging

Water

Organic waste

CO2, NOx emissions

Electricity

Transport

Fertilizers and biofuels

Recycling, reuse and energy from waste

Clean fuels

Renewable energies and energy efficiency

Public transport, intelligent transport systems

The concentration of people in cities puts intense pressure on the environment (emissions, waste…) and natural resources (water, electricity…)

Sustainable development has become a priority for the 21st century

Description and Business Model1.1 FCC Group

1.2 Leading Position

1.3 Strong International Presence

1.4 Balanced Business Model

1.5 Earnings Visibility

1.6 Healthy Financial Position

1.7 Solid Shareholder Remuneration Policy

1.8 Strategic Plan 2008-2010




FCC Group

Leader in Environmental Services and Infrastructure in Spain and one of the foremost groups in Europe

12.7 billion € in revenues and 1.5 billion € in EBITDA in 2009

More than 90.000 employees

Operates in over 50 countries / 44% of revenues come from international markets

Balanced business model

Healthy financial position

Market capitalization of 3.7 billion €*

Stable and committed shareholding structure

Solid shareholder remuneration policy

9* As of 29 December, 2009

Leading position

#1 in waste management in Austria and Eastern Europe

#2 in water management in Spain and#5 in the world

#1 in end-to-end water and waste management in Latin America

#1 in environmental services in Spain and#2 in infrastructure construction

#2 in infrastructure construction in Austria and a leader in Eastern Europe

#1 in Spain's cement market

#1 in industrial waste management in Spain and #2 in the US

#1 in waste disposal in the UK

#2 in the world (by no. of concessions)



Strong International Presence

11* 2009

Revenues* by Region

Austria30%

U.K.13%

Germany 12%

Eastern Europe22%

Other countries8%

Western Europe10%

USA5%Domestic

56%

International44%

44% of revenues come from international markets

87% of international revenues come from Europe, where FCC has become a leader in Infrastructure and Environmental Services

Presence in markets with considerable growth prospects


Balanced Business Model

12

Value creation supported by balanced Infrastructure, Services and Energy business activities, with a strong long-term growth potential

Over 50% of EBITDA comes from recurrent activities with high visibility on cash flow generation such as Environmental Services and Energy

Construction

INFRASTRUCTURE

48%

Cement

28% 20% Proactiva

2009 EBITDA by Business Area: An Integrated and International Group

Concessions (Global Vía) 50% Equity accounted

Realia (Real Estate)

SERVICES & ENERGY

52%

EnergyVersia

5%5%

Environmental Services

42%50% Equity accounted

50% Equity accounted

Earnings visibility

++ ++

Revenues 09

12,699.6 M€

Energy1%

2.8x earnings 09

1.5x earnings 09

Regulated tariff

Coverage

High visibility over 86% of earnings

Environmental Services linked to public, regulated and long-term contracts

Recurrent earnings with guaranteed minimum energy tariffs

Backlog 09

34,960 M€

Infrastructure31%

Energy

:: ==Infrastructure

57%

6.6x earnings 09Environmental

Services69%

:::: ==Environmental

Services28%


13

++


Healthy Financial Position

14* Net Debt and EBITDA, both with recourse. Data as of FY 2009

Financial Leverage 2009

Equity

Net Debt

29%

71%

62%

38%Without recourse

With recourse62%

38%

Infrastructure24%

Debt Structure and Maturity*

Services and Energy73%

Other3%

Leverage at a reasonable level

Debt structure in line with cash-flow visibility

Strong liquidity position with over 4 billion € in cash and equivalents plus available credit lines*

3.45*Net Debt

EBITDA=

5.74Operating C.F.

Financial Expenses=

14%

25%26%

15%20%

86% Long Term

Dec. 10 Dec. 12Dec. 11 Dec. 13 > Dec. 13


Solid Shareholder Remuneration Policy

15

0%

1%

2%

3%

4%

5%

6%

7%

2005 2006 2007 2008 2009

Dividend Yield Dividend Paid per Share

2005 2006 2007 2008 2009

1.36 €1.61 €

2.05 € 2.13 €

1.57 €

2.5% capital amortization

+

50% 50% 59% 59%

Pay-Out:

46%

Pay-Out at 59% with a 6.7% dividend yield in 2009

Dividend policy: Minimum Pay-Out of 50%

4% average dividend yield in the last 5 years


Strategic Plan 2008-2010

16

Consolidate Current Businesses

Sustain market share

Integrate acquired businesses

Promote Expansion Opportunities

Environmental Services and Concessions

Europe, USA and emerging countries

Entry into renewable energies

Increase Organization Efficiency

Process reengineering

Cost optimization

Business Areas

1.1 Environmental Services

1.2 Construction

1.3 Cement

1.4 Energy

1.5 Versia

1.6 Concessions


Description and Prospects



Environmental Services

18* 2009

Revenues* by Type of Business

41%

28%

24%

7%

Environment Spain

Environment International

Water

Industrial Waste

Revenues* by Region

Backlog over annual revenues*

5.3x

3.2x

14x

EnvironmentSpain

EnvironmentInternational

Water

6.6x annual revenues

Strong exposure to institutional demand

Stable, regulated and long-term contracts

High entry barriers

Capital-intensive projects with private funding (PFI and PPP)

Spain65%

U.K20%

Central & EasternEurope

12%USA3%


19

Environmental Services: Prospects

Market increasePrivatization of environmental services

Geographic expansion

Large economies of scope Shared customers

Full range of environmental services

Strong increase in demandGreater regulatory requirements

Demographic expansion


20* Source: Eurostat 2007

Environmental Services: Prospects

0%

10%

20%

30%

40%

50%

60%

70%

The Netherlands

Germany

Belgium

Austria

Norway

Switzerland

Sweden

Luxembourg

Estonia

Denm

ark

Ireland Italy

Finland

United Kingdom

Spain

France

Poland

Romania

Iceland

Greece

Slovenia

Portugal

Bulgaria

Hungary

Latvia

Cyprus

Slovakia

Lithuania

Malta

Czech Republic

% of Municipal Solid Waste Recycled in the EU*

EU 2020 Objective: 50%

The European Waste Framework Directive aims for 50% of municipal solid waste to be recycled by 2020

The European Union currently recycles around 40% on average

FCC operates in countries which recycle around 25% of their waste


Construction

21*2009

Revenues by Region* Revenues* by Type of Business

62%

25%

69%

22%

9%

Civil Engineering

Non-Residential Building

Residential Building

High entry barriers

Focus on civil engineering

High operating flexibility

Low investment needs

Spain 47%

Germany9%

Eastern Europe13%

Others5%

Austria22%

Rest of Europe4%


221 OECD estimates: “Infrastructure to 2030” report

Construction: Prospects

Application of European Funds to develop infrastructure

>300 billion € in 2007-2013

50% allocated to Eastern Europe

Development of transport infrastructure in OECD countries

≈ 150 billion €/year in 2010-20201

Exposure through FCC and Global Via

Extraordinary Infrastructure Plan (Spain)15 billion € in 2010 – 2012

EIB to finance 50%


23*Source: European Commission and Eurostat

0

10.000

20.000

30.000

40.000

50.000

60.000

Luxembourg

Denm

ark

Cyprus

Malta

Ireland

Austria

Finland

Sweden

The Netherlands

Belgium

Estonia

Slovenia

Latvia

Bulgaria

Lithuania

United Kingdom

Slovakia

France

Romania

Greece

Portugal

Hungary

Germany

Czech Republic

Italy

Spain

Poland

0%

5%

10%

15%

20%

25%

30%

European Funds 2007-2013 by country*M€ %/GDP 2006

The European Regional Development Fund (ERDF): >300 billion €

50% of its funds are allocated to Eastern Europe (>150 billion €)

Investment in infrastructure to promote economic cohesion among the less developed regions is an ERDF priority

Construction: Prospects


Cement

24*2009

Region where CPV operatesCement Factories

Leader in Spain Revenues by Region*

Revenues and EBITDA Margin 2005-2009

27.9%29.3%32.5%31.9% 33.1%

0

250

500

750

1.000

1.250

1.500

1.750

2005 2006 2007 2008 2009

Revenues

High entry barriers

High cash flow generation

Capital intensive business

Spain 71% USA

14%

U.K. 3%

Tunisia9%

Rest3%


251 Source: Oficemen, NSI

2 Estimates: US Portland Cement Association (PCA)

120

125

130

135

140

145

150

2008 2009 2010 2011 2012 2013 2014

Cement consumption per inhabitant1 (Spain)

400

500

600

700

800

900

1.000

1.100

1.200

1.300

1990 1992 1994 1996 1998 2000 2002 2004 2006 2008

Tons AverageConsumption per inhabitant Mn. Tons

Cement consumption in the US2

Cement consumption in Spain has declined by almost 50% since 2007, approaching a 20-year low

Management focused on optimizing free cash flow

Cost saving

Energy efficiency

Exposure to markets with growth potential

Cement: Prospects

2009


Energy

26

Location

Wind farms

Solar power plantsThermo-solar plants

Wind

Solar

Thermo-solarunder development:2010-2013

Installed Capacity (MW)

Wind: • Pool price + 31.0 €/MWh• With floor/cap of 75.4/89.9€/MWh

Solar : 441.7€/MWh

Thermo-solar: • Pool price + 268.7 €/MWh• With a cap of 363.9€/MWh

Recurring revenues with guaranteed tariffs

Natural hedge of energy cost in the Cement business in Spain (≈15% of the production cost)

Considerable scope for organic growth

422 MW

20 MW

100 MW

+

165 MW

422 MW

20 MW

Biomass

Regulated Tariff

Energy form Waste(Biomass)

165 MW

StatusOperational 30%

LocationSpain 90 MW

Capacity (MW) FCC StakeZabalgarbi

Operational 100%U.K. 35 MWAllington

Operational 100%U.K. 27 MWEastcroft

Operational 100%Austria 13 MWZisterdorf


Versia

27*2009

Revenues by Type of Business*

35%

28%

10%

Logistics

Handling

Urban Furniture

Car Parks

6%

Vehicle Testing

8%

Municipal services linked to the Group’s strategic activities

Management focused on consolidation of current businesses

Spain68%

Western Europe29%

America3%

Geographical revenues breakdown*

Maintenance & other

13%


Concessions

28* Includes the value of pending concessions attributable to GVI from FCC Group at 31-12-09

41 Infrastructure concessions under management with an average life of 31 years

Equity attributable to FCC of 619 M€*

Growth aimed on project development (greenfields) in OECD countries

Nº of Concessions Countries Key Figures

TOLL ROADS 23 6 1,500 km. managed17 Real toll8 Shadow toll1 High-occupancy

toll

13 Spain2 Portugal2 Ireland2 Chile2 Mexico2 Costa Rica

CITY RAILWAYS 7 83 km. managedSpain

AIRPORTS 2 2 9 million passengers per year

1 Spain1 Chile

HOSPITALS 2 1,100 bedsSpain

PORTS 7 1,500,000 m23 commercial4 seaport

Spain

Appendix1.1 History1.2 Shareholder Structure


Corporate presentationInvestor Relations


History

30

• FOCSA and Construcciones y Contratas S.A. merge to create FCC, becoming Spain’s leading company in the sector.

• The Environmental Services division begins expansion abroad with contracts for the collection of urban solid waste and street cleaning in Caracas (Venezuela).

1900 1911 1944 … 19791944 1979

• Founded in Barcelona, Fomentode Obras y Construcciones S.A. (FOCSA) was awarded the enlargement of the Port of Barcelona.

• First Environmental Services concession to clean and maintain Barcelona’s sewer system.

• Construcciones y Contratas, S.A. is founded in Madrid.

• First large Infrastructure contract abroad: the laying of 640 Km coaxial cable for the telephone system in Tripoli (Libya).

1981 1985

• The Company enters the Urban Furniture sector with the installation, maintenance and exploitation of more than 2,000 bus stops in Madrid.

1988

• The Company wins its first significant water management contract for the city of Vigo.

1992

1994 2000 1944 … 19792002 2005

• The Company enters the airport handling sector with a contract for Las Palmas airport.

• FCC and Caja Madrid merge their real estate businesses in the company Realia Business S.A.

• FCC takes over CementosPortland Valderrivas.

• FCC Group buys Grupo LogísticoSantos, to create Spain's leading independent logistics operator.

2006

• Acquisition of Alpine, WRG, ASA

2007

• Acquisition of HRS• Realia goes public.• FCC and Caja Madrid establish Global Vía Infraestructuras out of their respective infrastructure concessions.

2008

• FCC Energía is formed with the acquisition of 14 wind farms (422 MW) and 2 solar plants (20 MW)

Plan 10

From local company to international group leader in Environmental Services and Infrastructure, with more than 100 years experience

Employees: 1.0%


Shareholder Structure

31As of 24-02-2010

53.9%

T-Stock: 8.6%

RBS: 3.4%

Domestic Institutional: 13.0%

Foreign Institutional: 11.0%

Retail: 9.1%

Stable and committed shareholding structure guaranteeing permanent support to company’s management

38% Free-Float

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20100315 Fcc Corporativa Ingles 2009