H 1 2 0 1 6

J A NUA RY - J U NE

#ACCIONA1S16

cciona

J U L Y 2 0 16

www.acciona.com

CONTENTS

  1. EXECUTIVE SUMMARY

  2. CONSOLIDATED INCOME STATEMENT

  3. CONSOLIDATED BALANCE SHEET

  4. RESULTS BY DIVISION

    1. Energy

    2. Infrastructure

    3. Other activities

    4. ANNEX 1: MATERIAL INFORMATION, DIVIDENDS AND SHARE DATA

      1. Significant communications to the stock market

      2. Dividend

      3. Share data and share price performance

      4. ANNEX 2: MWs AND PRODUCTIONS

      5. ANNEX 3: TRANSPORT AND HOSPITAL CONCESSIONS

      6. ANNEX 4: WATER CONCESSIONS

      7. ANNEX 5: SUSTAINABILITY

        1. Sustainability indexes

        2. Sustainability events during the period

        3. CONTACT

          4. In accordance with Regulation 1606/2002 of the European Parliament and of the Council of 19th July 2002, for each financial year starting on or after 1st January 2005, companies governed by the law of a Member State must prepare their consolidated accounts in conformity with the International Financial Reporting Standards (IFRS) adopted by the European Union if their securities are admitted to trading on a regulated market.

          The ACCIONA Group's consolidated financial statements are presented in accordance with the International Financial Reporting Standards (IFRS) approved by the European Parliament to date. The financial statements were based on the individual accounts of ACCIONA, S.A. and its Group companies and they include the necessary adjustments and reclassifications to adapt them to IFRS.

          ACCIONA reports in accordance with its corporate structure, which comprises three divisions:

          • Energy comprises activities that range from construction of wind farms to the generation, distribution and marketing of its different energy sources

          • Infrastructure:

            • Construction includes construction, industrial and engineering activities as well as mainly transport and hospital concession activities

            • Water includes the construction of desalination, water and wastewater treatment plants, as well as integral water services management from bulk water abstraction all the way to discharging treated wastewater to the environment. ACCIONA Agua also operates water concessions across the entire water cycle

            • Services include the activities of facility services, airport handling, waste management and logistic services among others

          • Other activities includes the businesses of Trasmediterránea, real estate, Bestinver, wineries and other businesses

          On July 3rd 2016 Guidelines on Alternative Performance Measures (APM) published by ESMA came into force. This requires an explanation in the management report on how financial parameters or performance measures, that do not appear in the financial statements straight away, are calculated. To meet this guideline, the APM's used in this report by ACCIONA Group are listed and defined below including an explanation of why these APM are used:

          EBITDA: it is defined as operating income before depreciation and amortization, that is, the operating result of the group. It is calculated by taking the following items of the consolidated income statement: "net revenue", "other revenues", "change in inventories of finished goods and work in progress", "cost of goods sold", "personnel expenses" and "other operating expenses". Net Debt: it shows the Group's debt, in net terms, deducting cash and cash equivalents. It is calculated by taking the following items from the consolidated balance sheet: "non-current interest bearing borrowings", "current interest bearing borrowings", less "cash and cash equivalents" and "other current financial assets". Non-recourse debt: As indicated in note 13 of condensed interim consolidated financial statements, it corresponds to debt that does not have corporate guarantees, and therefore its recourse is limited to the debtor's assets and cash flows. Recourse debt: Debt with a corporate guarantee. Financial gearing: it shows the relation between the Group's financial debt and its equity. It is calculated dividing "net debt" (calculated as explained above) by "equity". Backlog: is defined as the pending production, that is to say, contractual amounts or customer orders after having deducted the amounts already accounted for as income in the income statement. It is calculated on the basis of orders and contracts awarded to the Group, deducting the realized portion that is accounted on "net revenue" and adding or subtracting "other variations" that correspond to forex adjustments, modifications to the initial contracts, and other changes to be made to the awarded backlog. Net Capex: it is defined as the net change in the balance of property, plant

          & equipment, intangible, financial and real estate assets during the period, corrected by:

          • Depreciation, amortization and impairment of assets during the period

          • Results on non-current assets

          • Forex fluctuations

          When dealing with changes in the consolidation perimeter, net capex is defined as the net outflow/inflow of used/sourced resources in the purchase/sale of net assets.

          Management uses this APMs to take financial or operational decisions as well as in the planning process. They are also used to evaluate the performance of the Group and its subsidiaries.

          Management considers these APMs provide useful additional financial information to evaluate the performance of the Group and its subsidiaries as well as for decision-making by the users of the financial information.

        Acciona SA published this content on 29 July 2016 and is solely responsible for the information contained herein.
        Distributed by Public, unedited and unaltered, on 29 July 2016 05:57:05 UTC.

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