Acciona

ACCIONA increases EBITDA by 46.6% to 1.407 billion euro
Date: 28/02/2008 ACCIONA ended 2007 with 935 million euro in EBIT, a 48.4% increase over the previous year. EBITDA totalled 1.407 billioneuro, 46.6% more than in 2006, and the EBITDA margin was 17.7%. Endesa contributed 429 million euro to the total. Attributable net profit fell by 28.9%, from 1.370 billion euro to 975 million euro,principally as a result of the lower contribution from disposals of non-current assets (299 million euro, vs. 1.044 billion euro in 2006, mainly from the sale of holdings in FCC and Vocento). ACCIONA'sconsolidated revenues increased by 26.8% to 7.953 billion euro. The increase was due principally to proportionate consolidation of Endesa in the fourth quarter and good revenue performance at ACCIONAInfrastructure, ACCIONA Urban & Environmental Services and ACCIONA Energy. Notable features: revenue growth at ACCIONA Infrastructure, because of its size within the group; the 29.4% increase at ACCIONAUrban & Environmental Services, due partly to consolidating Pridesa since the first quarter; and the 28.4% increase at ACCIONA Energy as a result of strong organic growth in installed wind powercapacity (up 29% to 3,030 MW). Endesa contributed 1.203 billion euro in revenues in 2007. As for the divisions' contribution to EBITDA, ACCIONA Energy provided 27.6%, ACCIONA Infrastructure 20%, ACCIONAReal Estate 8.8%, the services divisions contributed 8.1%, and Endesa provided 30.3%. Impact of Endesa The impact of Endesa on EBITDA (429 million euro) and revenues (1.203 billion euro) is due toproportionate consolidation of 25% of Endesa in the fourth quarter of 2007.The impact of 318 million euro on the EBT (earnings before taxes) line is due to the dividends distributed by Endesa, net of theexpenses associated with the acquisition of the stake, in the first nine months of the year, plus proportionate consolidation of the 25% stake in the fourth quarter. At 31 December 2007, ACCIONA owned...