2. Services for Citizens
summary
1. Strategic Framework
2. Description and Business Model
3. Business Areas
4. Appendix
Corporate Presentation
Investor Relations
3. Services for Citizens
Strategic Framework
1.1 Urban Growth
1.2 Investment in Infrastructure
1.3 Sustainable Cities
Corporate Presentation
Investor Relations
4. Services for Citizens
Urban Growth
World Population & Urban Concentration Percentage 1990 -2030*
Mn. Inhabitants % Urban Pop.
8.500 65%
OECD Countries
8.000 8 1%
78% 60%
75% 60%
73%
7.500 71%
57%
55%
7.000 1990 2000 2010 2020 2030 55%
53%
6.500
5 1% 50%
49%
6.000
47%
45%
5.500 45%
43%
5.000 40%
1 990 1995 2000 2005 2010 2015 2020 2025 2030
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
5
* Source: "World Urbanization Prospects: The 2007 Revision Population Database" - United Nations Population Division
5. Services for Citizens
Investment in Infrastructure
Estimated Annual Investment in Infrastructure 2010-2020 (M$)*
OECD
Railways Total
Roads
Electricity
Telecoms.
Water**
0 100.000 200.000 300.000 400.000 500.000 600.000 700.000 800.000 900.000
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
6
* Source: “Infrastructure to 2030” – OECD 2006
** Water estimates refer only to OECD and BRIC countries
6. Services for Citizens
Sustainable Cities
Sustainable Urban Infrastructure (OECD)*
Efficiency and reuse of
Water
wastewater
Organic waste Fertilizers and biofuels
Paper, cardboard, plastic and Recycling, reuse and energy from
packaging waste
CO2, NOx emissions Clean fuels
Renewable energies and energy
Electricity efficiency
Public transport, intelligent
Transport 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
7
* Source: “Infrastructure to 2030” – OECD 2006
7. Services for Citizens
Description and Business Model
1.1 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
Corporate Presentation
Investor Relations
8. Services for Citizens
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
9. Services for Citizens
Leading position
#1 in environmental services in Spain and
#1 in waste disposal in the UK
#2 in infrastructure construction
#2 in infrastructure construction in Austria
#2 in the world and a leader in Eastern Europe
(by no. of concessions)
#1 in waste management in Austria
and Eastern Europe
#1 in industrial
waste management
in Spain and
#2 in the US #1 in Spain's cement market
#2 in water management in Spain and
#5 in the world
#1 in end-to-end water and waste management in
Latin America
10. Services for Citizens
Strong International Presence
Revenues* by Region
International Germany U.K.
44% 12% 13%
Austria Western Europe
30% 10%
USA Eastern Europe
Domestic 5% 22%
56%
Other countries
8%
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
11
* 2009
11. Services for Citizens
Balanced Business Model
2009 EBITDA by Business Area: An Integrated and International Group
SERVICES & ENERGY INFRASTRUCTURE
52% 48%
Environmental Concessions
Versia Energy (Global Vía) Construction Cement
Services 50% Equity
accounted
42% 5% 5% Proactiva 28% 20%
50% Equity
accounted
Realia (Real
Estate)
50% Equity
accounted
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
12
12. Services for Citizens
Earnings visibility
Backlog 09 Revenues 09 Coverage
34,960 M€ 12,699.6 M€ 2.8x earnings 09
Environmental Environmental
Services :
: Services = 6.6x earnings 09
69% 28%
Infrastructure Infrastructure
: = 1.5x earnings 09
31% 57%
+ + +
Energy
Energy Regulated tariff
1%
High visibility over 86% of earnings
Environmental Services linked to public, regulated and long-term contracts
Recurrent earnings with guaranteed minimum energy tariffs
13
13. Services for Citizens
Healthy Financial Position
Financial Leverage 2009
29% Equity
Operating C.F.
= 5.74
38% Without recourse Financial Expenses
38%
71% Net Debt Net Debt
62%
= 3.45*
62% recourse
With
EBITDA
Debt Structure and Maturity*
Services and Energy 86% Long Term
Infrastructure 73%
26%
24% 25%
20%
14% 15%
Other
3%
Dec. 10 Dec. 11 Dec. 12 Dec. 13 > Dec. 13
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*
14
* Net Debt and EBITDA, both with recourse. Data as of FY 2009
14. Services for Citizens
Solid Shareholder Remuneration Policy
Dividend Yield Dividend Paid per Share
7% 2.05 € 2.13 €
6%
5%
1.61 € 1.57 €
1.36 €
4%
3%
2%
1%
0%
2005 2006 2007 2008 2009 2005 2006 2007 2008 2009
Pay-Out: +
2.5% capital
46% 50% 50% 59% 59% amortization
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
15
15. Services for Citizens
Strategic Plan 2008-2010
Promote Expansion Opportunities
Environmental Services and Concessions
Europe, USA and emerging countries
Entry into renewable energies
Consolidate Current Increase Organization
Businesses Efficiency
Sustain market share Process reengineering
Integrate acquired businesses Cost optimization
16
16. Services for Citizens
Business Areas
Description and Prospects
1.1 Environmental Services
1.2 Construction
1.3 Cement
1.4 Energy
1.5 Versia
1.6 Concessions
Corporate Presentation
Investor Relations
17. Services for Citizens
Environmental Services
Revenues* by Type of Business Revenues* by Region
7% Industrial Waste Spain
65%
24% Water
U.K
20%
28% Environment
International Central & Eastern
USA Europe
3% 12%
Environment
41% Spain
Backlog over annual revenues*
Strong exposure to institutional demand
Water 14x
Stable, regulated and long-term contracts
6.6x annual
High entry barriers Environment revenues
International 3.2x
Capital-intensive projects with private funding
(PFI and PPP) Environment 5.3x
Spain
18
* 2009
18. Services for Citizens
Environmental Services: Prospects
Strong increase in demand
Greater regulatory requirements
Demographic expansion
Market increase Large economies of scope
Privatization of environmental services Shared customers
Geographic expansion Full range of environmental services
19
19. Services for Citizens
Environmental Services: Prospects
% of Municipal Solid Waste Recycled in the EU*
70%
60%
EU 2020 Objective: 50%
50%
40%
30%
20%
10%
0%
Greece
Sweden
France
The Net ands
Germ any
Austra
way
Denm ark
ty
Porugal
Lat a
us
Czech Republc
Swizerand
Mala
i
Luxembourg
Est a
n
I and
a
y
i
r and
Ial
Fi and
and
a
vi
Sl a
a
Bel um
oni
Spai
Romani
oveni
Bul a
Hungar
ovaki
Lihuani
t
ted ngdom
gari
Cypr
gi
Nor
t l
nl
Pol
cel
Iel
herl
t
Sl
Uni Ki
t
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
20
* Source: Eurostat 2007
20. Services for Citizens
Construction
Revenues* by Type of Business Revenues by Region*
Spain Austria
9% Residential Building
22%
47%
25%
Non-Residential
22% Germany
Building
9%
Eastern Europe
13%
62%
Others
69% Civil Engineering Rest of Europe
5%
4%
High entry barriers
Focus on civil engineering
High operating flexibility
Low investment needs
21
*2009
21. Services for Citizens
Construction: Prospects
Development of transport infrastructure Application of European Funds
in OECD countries to develop infrastructure
≈ 150 billion €/year in 2010-20201 >300 billion € in 2007-2013
Exposure through FCC and Global Via 50% allocated to Eastern Europe
Extraordinary Infrastructure Plan (Spain)
15 billion € in 2010 – 2012
EIB to finance 50%
22
1 OECD estimates: “Infrastructure to 2030” report
22. Services for Citizens
Construction: Prospects
European Funds 2007-2013 by country*
M€ %/GDP 2006
60.000 30%
50.000 25%
40.000 20%
30.000 15%
20.000 10%
10.000 5%
0 0%
Greece
Sweden
France
Denm ark
us
Austra
The Net ands
Lat a
Porugal
Germ any
Czech Republc
ty
Luxembourg
Mala
Est a
a
y
i
n
r and
i
Fi and
vi
a
Sl a
a
Ial
and
t
Bel um
oni
oveni
Bul a
Lihuani
ovaki
Romani
Hungar
Spai
gari
ted ngdom
Cypr
gi
nl
Pol
Iel
herl
t
Sl
t
Uni Ki
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
23
*Source: European Commission and Eurostat
23. Services for Citizens
Cement
Leader in Spain Revenues by Region*
Spain
71% USA
14%
Tunisia
9%
U.K. 3%
Rest
3%
Region where CPV operates
Cement Factories
Revenues and EBITDA Margin 2005-2009
Revenues
1.750
High entry barriers 1.500
High cash flow generation 1.250
1.000
Capital intensive business
750 31.9% 33.1% 32.5% 29.3% 27.9%
500
250
0
2005 2006 2007 2008 2009
24
*2009
24. Services for Citizens
Cement: Prospects
Cement consumption per inhabitant1 (Spain) Cement consumption in the US2
Tons Consumption per inhabitant Average Mn. Tons
1.3 0 0
15 0
1.2 0 0
14 5
1.10 0
1.0 0 0
14 0
900
13 5
800
700
13 0
600
12 5
500
400
12 0
19 9 0 19 9 2 19 9 4 19 9 6 19 9 8 2000 2002 2004 2006 2 0 0 8 2009
2008 2009 2 0 10 2 0 11 2 0 12 2 0 13 2 0 14
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
25
1 Source: Oficemen, NSI
2 Estimates: US Portland Cement Association (PCA)
25. Services for Citizens
Energy
Installed Capacity (MW) Location Regulated Tariff
20 MW Solar Solar : 441.7€/MWh
422 MW Wind Wind:
422 MW
• Pool price + 31.0 €/MWh
• With floor/cap of 75.4/89.9€/MWh
165 MW Biomass
Thermo-solar:
+
Thermo-solar
• Pool price + 268.7 €/MWh
Wind farms
100 MW under development: • With a cap of 363.9€/MWh
Thermo-solar plants
2010-2013 Solar power plants
Location Capacity (MW) Status FCC Stake
Zabalgarbi Spain 90 MW Operational 30%
Energy form Waste
Allington U.K. 35 MW Operational 100%
(Biomass)
Eastcroft U.K. 27 MW Operational 100%
165 MW
Zisterdorf Austria 13 MW Operational 100%
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 26
26. Services for Citizens
Versia
Revenues by Type of Business* Geographical revenues breakdown*
Spain
Logistics 68%
35%
Handling
Western Europe
28% Urban Furniture 29%
Car Parks America
3%
13%
10% Vehicle Testing
6%
8% Maintenance & other
Municipal services linked to the Group’s strategic activities
Management focused on consolidation of current businesses
27
*2009
27. Services for Citizens
Concessions
Nº of Concessions Countries Key Figures
TOLL ROADS 23 6 1,500 km. managed
17 Real toll 13 Spain
8 Shadow toll 2 Portugal
1 High-occupancy 2 Ireland
toll 2 Chile
2 Mexico
2 Costa Rica
CITY RAILWAYS 7 Spain 83 km. managed
AIRPORTS 2 2 9 million passengers per year
1 Spain
1 Chile
HOSPITALS 2 Spain 1,100 beds
PORTS 7 Spain 1,500,000 m2
3 commercial
4 seaport
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
28
* Includes the value of pending concessions attributable to GVI from FCC Group at 31-12-09
29. Services for Citizens
History
• Founded in Barcelona, Fomento • The Environmental Services
de Obras y Construcciones S.A. division begins expansion abroad
(FOCSA) was awarded the with contracts for the collection of • The Company wins its first
enlargement of the Port of • Construcciones y Contratas, urban solid waste and street significant water management
Barcelona. S.A. is founded in Madrid. cleaning in Caracas (Venezuela). contract for the city of Vigo.
1900 1911 1944 … 1979
1944 1979 1981 1985 1988 1992
• First large Infrastructure
• First Environmental Services • The Company enters the Urban • FOCSA and Construcciones y
contract abroad: the laying of 640
concession to clean and maintain Furniture sector with the installation, Contratas S.A. merge to create
Km coaxial cable for the
Barcelona’s sewer system. maintenance and exploitation of more FCC, becoming Spain’s leading
telephone system in Tripoli
than 2,000 bus stops in Madrid. company in the sector.
(Libya).
• The Company enters the airport • FCC Energía is formed with the
handling sector with a contract • FCC takes over Cementos acquisition of 14 wind farms (422
for Las Palmas airport. Portland Valderrivas. • Acquisition of Alpine, WRG, ASA MW) and 2 solar plants (20 MW)
1994 2000 2002 … 1979
1944 2005 2006 2007 2008 Plan 10
• FCC and Caja Madrid merge • FCC Group buys Grupo Logístico • Acquisition of HRS
their real estate businesses in the Santos, to create Spain's leading • Realia goes public.
company Realia Business S.A. independent logistics operator. • FCC and Caja Madrid establish
Global Vía Infraestructuras out of
their respective infrastructure
concessions.
From local company to international group leader in Environmental Services and Infrastructure, with
more than 100 years experience
30
30. Services for Citizens
Shareholder Structure
Employees: 1.0%
53.9%
Retail: 9.1%
Domestic Institutional: 13.0% T-Stock: 8.6%
Foreign Institutional: 11.0% RBS: 3.4%
Stable and committed shareholding structure guaranteeing permanent support to company’s management
38% Free-Float
31
As of 24-02-2010
31. Services
for Citizens
We help create eco‐efficient communities
Thank you