ACCIONA’s presentation at Spain Investors Day

Escrito 14 Jan 15

For the fourth consecutive year we have participated at the Spain Investors Day conference, where Chief Corporate Development and IR Officer Mr. Juan Muro-Lara did a presentation of the company. Mr. Muro reviewed the current Action Plan and its status, and highlighted the main initiatives for 2015. (See presentation below)

We met 14 investors at the event. Meetings were hosted by Carlos Arilla (CFO), Juan Muro-Lara, Raimundo Fernández-Cuesta (Director of M&A) and Inés Prieto (Head of IR)

These were the main points of interests and questions we were asked by investors:

  • No doubt the FCF generation of the company and the ability to continue its deleverage was the name of the game in most meetings
  • Renewables strategy in Spain : Once the regulatory uncertainty is out of the way, some investors see hidden value in the Spanish renewable asset portfolio and as for the company’s plans to crystalize that value
  • Deleverage / shareholder remuneration / Capex equation:
    • Leverage trend à tools in hand of ACCIONA (divestments /partnerships). Debt structure and cost
    • Shareholder remuneration policy
    • Estimated capex by divison and geography
  • Bestinver : Strategy and evolution
  • Construction : Growth perspectives
  • Environment : Potential impact for the growth of the renewable sector of the decline in commodity prices



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