News ·  October 30th, 2014 , London

Abertis relaunches its growth and value creation strategy with its new 2015-2017 Strategic Plan

 · The Group announces its intention to launch an Initial Public Offering of its terrestrial telecoms business during next year, subject to market conditions.

· The company is improving its shareholders retribution policy: it will increase its ordinary dividend per share by 5% per year until 2017; it will maintain its bonus share issue of 1 new share for each 20 existing shares (which means an additional 5% annual increase) and it will carry out a share buyback program of up to 5%. The Group plans to distribute over €2,000Mn in ordinary dividends over the next three years.

· Abertis' new Strategic Plan sets an objective of improving its key financial indicators over the next three years, with an estimated average annual growth of 8% in EBITDA, up to €4,000Mn in 2017, at current perimeter and fixed exchange rates.

· Its efficiency objectives include improving the EBITDA margin from 64% in 2014 to 68% in 2017. These objectives, together with the growth goal, are backed by a new corporate structure, with new appointments to lead some business divisions. 

· The Group presents its results for the first nine months of 2014 today, outperforming analysts' expectations: EBITDA is up 11% on the same period in 2013 to over €2,400Mn; and net profits reach €560Mn, 5% more.


Abertis presented its new Strategic Plan for 2015-2017 to the investors community in London today, with the overriding objective being to continue creating value for shareholders. Following a successful period of four years -from 2011 to 2014-, in which the company has undertaken a transformational leap forward, Abertis is preparing to further develop its strategy of focusing its business, increasing returns for shareholders, seeking efficiencies, boosting international growth and consolidating a new organizational structure. 

Initial Public Offering of the terrestrial telecoms business 

The new drive to business' focus will come with the intention of Abertis to launch an IPO of its terrestrial telecoms business in 2015 -subject to market conditions-, currently consisting of a network of around 8,000 towers for broadcasting (radio and television) and towering (mobile telephone). Listing this business will provide Abertis with funds to continue growing its toll road business and reinforce its commitment to financial solvency (corporate ratings) and shareholder remuneration. 

The IPO of the terrestrial telecoms business will enhance its financing flexibility and increase its visibility, at a time when the market is hungry for telecoms infrastructure projects. Moreover, it will allow the unit to raise new funds in the future to finance its growth and international expansion, in a market where there are currently many opportunities, particularly in the European mobile telephone towers segment. The new company will operate independently from Abertis, with its own brand, corporate image and management team. 

In this sense, the Chief Executive Officer of Abertis, Francisco Reynés, points that "this IPO will enable the terrestrial telecoms business to continue the growth we have seen over recent years, enhancing its position to take advantage of opportunities in the telecoms infrastructure market, and adding value to its international potential as a neutral operator". 

Increasing shareholder remuneration 

At the presentation of the Strategic Plan, which brought together more than one hundred analysts and investors, Abertis announced an improvement in the shareholder remuneration in the next three years.

The dividend per share will increase by 5% each year to 2017. Taken together with the bonus share issue of 1 new share for every 20 existing shares, this equates to a 10% annual increase in shareholder remuneration. The company has also announced a share buyback plan of up to 5% of the share capital for 2015 to 2017. Under the new shareholder remuneration policy, the company is expected to distribute more than €2,000Mn over the next three years through the ordinary dividend alone.

distributed by