COMUNICADO: Grupo Isolux Corsán, S.A.: Announcement of Intention to Float on the Madrid, Barcelona, Bilbao and Valencia Stock Exchan

 

COMUNICADO: Grupo Isolux Corsán, S.A.: Announcement of Intention to Float on the Madrid, Barcelona, Bilbao and Valencia Stock Exchan

Publicado 16/01/2015 8:28:10CET

Each of our EPC and Concessions segments is subdivided into several lines of business. As of September 30, 2014, we had 8,779 employees, with 5,194 in our EPC segment, 2,515 in our Concessions segment and 1,070 in our Other segment.

Concessions

In the twelve months ended September 30, 2014, our Concessions segment generated revenue of EUR682.8 million and EBITDA of EUR385.8 million. Our Concessions segment comprises the following three business lines:


- Highway concessions: We develop and operate toll-roads and highway assets
under concession. Our group operates or has equity interests in four toll-road
concessions in India, two in Mexico, one in Brazil and one in Spain, and is in the
process of developing a highway concession in the United States. The highways that we
are currently operating or developing have a total length of 1,643 kilometres.
- Power transmission concessions: We are engaged in the development and
operation of high-voltage electricity transmission lines under concession agreements.
We currently operate or have equity interests in seven electric transmission line
concessions in Brazil, one in India and one in the United States. Overall, the
transmission lines in our portfolio that are currently operating or under construction
have a total length of 5,959 kilometers.
- Solar photovoltaic power plants: We are a major independent producer of
photovoltaic solar energy. Our subsidiary T-Solar is engaged in the operation,
construction and development of solar photovoltaic plants in Spain, Italy, India,
Mexico, Peru, the United States, Puerto Rico and Japan. The total energy production
capacity of our solar photovoltaic plants in operation or under construction amounts
to 326 MW.

Additionally, we are a meaningful operator of off-street car park concessions in Spain, where we operate 49 car parks with a total of 23,842 parking spaces (22,543 spaces were in operation and 1,299 were in design phase) as of September 30, 2014. We have recently acquired the Nuevo Centro car park in Valencia with approximately 2,700 parking spaces.

In 2012, we reached an agreement with the Canadian pension fund Public Sector Pension Investment Board (PSP), pursuant to which PSP invested US$627 million in Isolux Infrastructure, our subsidiary holding the aforementioned interests in highway concessions, power transmission concessions and solar photovoltaic energy. As a result of the transaction, PSP received an initial equity stake of 19.23% in Isolux Infrastructure (with the remaining 80.77% held by us) and holds a loan instrument that is convertible into an additional equity stake in Isolux Infrastructure in 2017 under the aforementioned agreement.

EPC

In the twelve months ended September 30, 2014, our EPC segment generated revenue of EUR2,452.4 million and EBITDA of EUR289.2 million, and had a backlog of EUR6,626 million as of such date. Our EPC segment comprises the following three business lines:


- Energy: We provide engineering, procurement and construction related to
the energy sector, which we believe is a growth area. We focus on activities in three
main areas: thermal power plants, renewable energy and oil and gas.
- T&D and installations: We provide the installation and maintenance of T&D
infrastructures (including high-voltage transmission lines and substations). We also
provide a wide range of services, including electrical, mechanical and special
installations, railway electrification and signalling, deployment and maintenance of
electrical and telecommunications networks, electromechanical installations for
airports and shipping, security and control systems, and industrial services and
maintenance.
- Infrastructure: We provide engineering, procurement and construction related
to civil and industrial construction works, including roads, railways, maritime
infrastructures, airports and hydraulic works.

As of September 30, 2014, 84% of our EPC Backlog related to activities outside of Spain. Some of the main contracts awarded in 2014 and included in our EPC Backlog as of September 30, 2014, relate to the I-69 Indiana Highway section 5 (US), Pellet Plant (US), Miguillas Hydroelectric Project (Bolivia) or the third combined cycle plant in Bibiyana (Bangladesh). Moreover, around EUR1 billion of new orders have been awarded after September 30, 2014, such as the development of Moyobamba Transmission Line in Peru.

Other

We also have an Other segment, consisting of our non-core businesses of biodiesel, real estate activities, a wind farm in Argentina and our corporate overhead and consolidation adjustments. In the twelve months ended September 30, 2014, our Other segment accounted for negative EUR126.7 million of our consolidated revenue and negative EUR37.2 million of our consolidated EBITDA.


FOR ENQUIRIES:

Alvaro Delso, CFO: +34-91-449-30-00
Alejandra Lwoff, Head of Investor Relations: +34-91-449-30-00
Guillermo Lancha, Investor Relations: +34-91-449-30-00

IMPORTANT NOTICE

This announcement and the information contained herein are not for release or distribution or publication, in whole or in part, directly or indirectly, in or into the United States, Canada, Australia, Japan or any other jurisdiction where to do so might constitute a violation of the relevant laws or regulations of such jurisdiction.

This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by the Company in any jurisdiction where such offer or sale would be unlawful and the announcement and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions.

This announcement does not constitute a prospectus. Any decision to purchase any Shares in the proposed Offering should be made solely on the basis of the information to be contained in the Folleto Informativo to be approved by the CNMV and published in relation to the Offering.

This announcement may only be addressed to and directed at persons in member states of the European Economic Area ("EEA") who are "qualified investors" within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC and any amendments thereto including Directive 2010/73/EU to the extent and in the manner implemented in the relevant EEA member state) and any relevant implementing measure in the relevant member state of the EEA ("Qualified Investors"). In addition, in the United Kingdom, this announcement is addressed to and directed only at, Qualified Investors who (i) are persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), (ii) are persons who are high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) are other persons to whom this announcement may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons").

This announcement must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the EEA other than the United Kingdom, by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is available only to relevant persons in the United Kingdom and Qualified Investors in any member state of the EEA other than the United Kingdom, and will be engaged in only with such persons.

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