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Transcription

1 ANNUAL REPORT 2010

2 FACTS AND FIGURES* (Thousands of euros) SALES INTERNATIONAL SALES 2,500, ,000 2,000,000 1,500,000 1,000,000 2,153,954 2,083,712 2,031, , , , , , , , ,000 60, INTERNATIONAL CONTRACT AWARDS EQUITY 700, , , , , , , , , , , , , , , , ,000 50, , , , INVESTMENT TOTAL JOBS (people) 115, ,000 90,000 75,000 60,000 45,000 30,000 15,000 51,211 62, ,270 12,000 10,500 9,000 7,500 6,000 4,500 3,000 1,500 8,654 9,095 9, *Figures according to proportionality test

3 INFRASTRUCTURES ENGINEERING AND SYSTEMS ENVIRONMENT, SERVICES AND LOGISTICS CONCESSIONS AND RENEWABLE ENERGY CONSTRUCTION AND MAINTENANCE OF RAILWAY, ROAD, AIRPORT, HYDRAULIC, BUILDING CONSTRUCTION, PORT AND SEA INFRASTRUCTURES TURNOVER: 1.088B / $1.454B ORDER BOOK: 1.803B / $2.409B JOBS: 4,187 ENGINEERING, IMPLEMENTATION AND MAINTENANCE OF ELECTROMECHANICAL, TECHNOLOGICAL AND ENERGY GENERATION AND DISTRIBUTION INSTALLATIONS TURNOVER: 646M / $863M ORDER BOOK: 658M / $879M JOBS: 3,870 WATER AND WASTE TREATMENT, ENERGY RECOVERY, URBAN SERVICES AND COMPREHENSIVE LOGISTICS SOLUTIONS TURNOVER: 233M / $311M JOBS: 910 INFRASTRUCTURE CONCESSIONS AND RENEWABLE ENERGY GENERATION PROJECTS TURNOVER: 63M / $84M MANAGED CONCESSIONS INVESTMENT: 1.548B / $2.068B JOBS: 146 INFRASTRUCTURES 1.088B $1.454B ELECTRICAL INSTALLATIONS 229M $306M ENVIRONMENT 180M $241M CONCESSIONS 48M $64M Industrial waste Railway SYSTEMS AND TECHNOLOGY 205M $273M Urban services Roads Real estate MECHANICAL INSTALLATIONS 140M $187M Engineering, technology and generation Car parks 9,447 spaces managed MAINTENANCE AND SERVICES 73M $98M TRANSPORT, LOGISTICS AND EQUIPMENT 53M $70M RENEWABLE ENERGY 15M $20M TOTAL TURNOVER*: 2.031B / $2.713B** *Includes turnover from Iconus, Redalsa and Proeixample holdings **Euro-dollar exchange rate as of 31/12/2010=

4 ANNUAL REPORT 2010

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6 ANNUAL REPORT COMSA EMTE 2010 LETTER FROM THE CHAIRMAN S OFFICE 4 INFRASTRUCTURES 6 INFRASTRUCTURES 8 ENGINEERING AND SYSTEMS 14 ELECTRICAL INSTALLATIONS 16 SYSTEMS AND TECHNOLOGY 18 MECHANICAL INSTALLATIONS 20 MAINTENANCE AND SERVICES 22 ENVIRONMENT 24 TRANSPORT, LOGISTICS AND EQUIPMENT 32 CONCESSIONS 36 RENEWABLE ENERGY 42 INNOVATION AND RESPONSIBLE MANAGEMENT 46 MANAGEMENT TEAM 50 COMPANY DIRECTORY 52

7 4 ANNUAL REPORT COMSA EMTE 2010 Letter from the Chairman s Office The ability to change and adapt to new situations are the factors that will enable COMSA EMTE to maintain its leadership in those areas of specialization which over the years have made us into a benchmark in the field of railway infrastructure and technology. As noted in our Strategic Plan, the rate of investment in public works has fallen in the Spanish market, in part due to the degree of maturity that Spanish infrastructure has achieved. After years of spectacular growth, the market is now adjusting to a size comparable to the economies of developed countries, accompanied by a credit crunch that does not encourage the commissioning of new projects. This new scenario, while predictable, has taken a significant turn for the worse over the course of the last year in lockstep with economic difficulties. This means that our operations abroad and specialization have become more than ever core strategic areas for the group s progress. The adaptation of our organization in order to address internationalization has entailed the challenge of reorganizing the structures of our Infrastructure Business. This has involved a rationalization and reorganization of teams so that we can be more efficient in our operations and more flexible in the international expansion of corporate operations. The challenge of internationalization has now become a reality in 2010 in terms of contract award volumes, which are indicative of the way in which we need to move into the future. Thus international contract awards in the financial year 2010 have accounted for more than 30% of new contracts obtained by the group as a whole, and in absolute terms they come to more than 680 million. COMSA EMTE has a permanent presence in 14 countries. Over the course of this year significant progress has been made abroad, including the start-up of operations in Brazil, Peru and Ecuador with infrastructure and technology contracts, a strengthening of our presence in Mexico through an acquisition that positions us as a global player in the industrial HVAC market, and the opening of an office in the United States, where we hope to contribute with our expertise to improving the country s existing public transport network.

8 LETTER FROM THE CHAIRMAN S OFFICE 5 Our foreign operations have also increased in Europe, with new contracts for mechanical installations in France and the beginning of a merger with the Lithuanian firm Tiltra in Poland, a deal which will ramp up our presence in Central and Eastern Europe. Our specialization in railways, control systems and telecommunications, renewable energy and water engineering, combined with a range of services that are characterized by their innovation, technology and excellence, position COMSA EMTE as a benchmark player in these sectors while at the same time providing a differentiating value in markets that are becoming more and more demanding and increasingly mature. COMSA EMTE is determined to become one of the leading companies in R&D in the infrastructure and technology sector. This commitment has been buttressed during 2010 by the setting up of a company in Viladecavalls (Barcelona) in which COMSA EMTE has a stake. This new enterprise is to bring together the research and development that was previously being carried out in the Group s businesses in the fields of energy efficiency, rail, renewable energy, water engineering and telecommunications. Our intention is to develop new products that add value to our companies and expand our group s global offering. The belief that people are the most important value in an organization has led us to step up our continued focus on health and safety with the implementation of our ZERØ Plan (COMSA EMTE Ø Risk). This Strategic Occupational Health and Safety Plan seeks to drive knowledge and training over the next three years with the ultimate goal that all COMSA EMTE companies become benchmarks for health and safety at work in their respective business sectors. The trust of our customers and especially the quality of COMSA EMTE s workforce, which is made up of more than 9,500 people, enable us to continue moving forward. We are facing 2011 with optimism because the work we have done over recent years provides us with the knowledge and expertise required to address the new challenges that lie ahead. Jorge Miarnau Montserrat COMSA EMTE Chairman Carles Sumarroca Claverol COMSA EMTE Vice-Chairman

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10 INFRASTRUCTURES Our operations The origins of COMSA date back to 1891 when it started out in track work and station renovation. Today the company is one of the leading constructors in Spain and has a strong international presence in markets such as Chile, Argentina, Poland, Portugal and Australia. Construction and maintenance of railway lines High-speed rail, conventional lines, metros and tramways Rail installations Roads, hallmark buildings, airports Maritime, port and hydraulic projects, urban development Tunnels and underground projects Upkeep and maintenance of roads Rail ballast Classified aggregate Prestressed concrete sleepers Figures CHANGE IN TURNOVER (thousands of euros) turnover 1.088B order book 1.803B 1,350,000 1,200,000 1,050, , ,000 1,168,833 1,221,642 1,088,236 jobs 4, , , , ,

11 8 ANNUAL REPORT COMSA EMTE 2010 Infrastructures HIGHLIGHTS COMSA has established itself as a leader in highspeed rail in Spain. It has won new contracts such as the Getafe-Pinto, Ourense-O Irixo and Santa Justa-Airport sections. Opening of flagship projects such as the Príncep de Viana Bridge (Lleida) and Teror Viaduct (Las Palmas). New contracts in Catalonia: the Intermodal Centre at El Prat de Llobregat and La Sagrera high-speed train station in Barcelona. The Principality of Asturias and FEVE choose COMSA to put the Langreo railway line underground (Asturias). Setting up of the Infrastructure Department, which includes the Rail and Construction businesses and is divided into four area management units. Specialists in roads. Iberpistas and Acesa choose COMSA for the widening of the AP-6, between San Rafael and Villacastín, and the AP-7, between Fornells and Vilademuls. COMSA ramps up its commitment to innovation and delivering construction solutions that combine financial considerations with respect for the environment. Travipos wins the award for the supply of over 250,000 sleepers for the Albacete-Almansa 1 and Girona-Figueras high-speed rail sections. Cumesa invests 2.8 million in facilities at Alforja quarry, with the aim of cutting production costs and reducing environmental impact. Further international expansion. Start of operations in Mexico, Peru and Ecuador, and opening offices in California (USA) and Hong Kong (China). First contracts in Brazil and Ecuador. COMSA is to take part in the construction of 100 miles of the new Transnordestina line (Brazil) and will renovate the Riobamba-Ambato railway (Ecuador). New contracts in Chile. Renewal of 200 km of the Arica-La Paz railway line and building hospitals in Rancagua and Calama. In Argentina COMSA wins the track renewal contract for the Ferrocarril Belgrano railway and completes the first stage of the refurbishment project for the Cervantes National Theatre (Buenos Aires). Its subsidiary Trakcja Polska (Poland) announces the start of its merger with Lithuanian firm Tiltra, with the objective of creating a diversified company with a turnover of more than 400 million. In Australia, MVM Rail continues to operate throughout the country. In 2010, the subsidiary has opened offices in Melbourne, in addition to those it already has in Brisbane, Sydney and Perth. Hospital Clínic Station. Line 5 of the Barcelona Metro. SPAIN. TMB (Transports Metropolitans de Barcelona)

12 INFRASTRUCTURES 9 Quadrupling of track between Kingsgrove and Revesby in Sydney. AUSTRALIA. Transport Infrastructure Development Corporation Maczyce Station, E-30 Line. POLAND. PLK (Polskie Linie Kolejowe) OB section of the Alicante tramway. SPAIN.GTP (Ente Gestor de la Red de Transporte y de Puertos de la Generalitat Valenciana) USP Junior ballast profiler for work on metric gauge track

13 10 ANNUAL REPORT COMSA EMTE 2010 Buenos Aires Station. Belgrano Sur Line. ARGENTINA. UGOFE Footbridge at Vilafranca de Xira station. PORTUGAL. REFER Bridge over the River Segre (Lleida). SPAIN. Ayuntamiento de Lleida

14 INFRASTRUCTURES 11 Reuse of treated wastewater at Albufera Sur (Valencia). SPAIN. ACUAMED (Aguas de las Cuencas Meditarráneas) Biological Chemistry and Molecular Materials Research Centre (Santiago de Compostela). SPAIN. Universidad Santiago de Compostela Soutomaior-Vilaboa (Pontevedra) high-speed rail section. SPAIN. DGF. Ministerio de Fomento

15 12 ANNUAL REPORT COMSA EMTE 2010 Valencia ARN high-speed rail section. South Intersection. SPAIN. ADIF. Ministerio de Fomento Travipos facilities at Constantí (Tarragona). SPAIN Les Fosses Viaduct (Girona). Eix Transversal. SPAIN. CEDINSA

16 INFRASTRUCTURES 13 HOSPITAL DE RANCAGUA. Localización (Chile) Negocio Obr Civil Nordeste Cliente cliente cliente cliente. Rancagua Hospital. CHILE. Servicio de Salud O Higgins Andalucía Wharf. Port of Tarragona. SPAIN. Ministerio de Fomento Cantabrico Dual Carriageway (A-8). Vilamar- Barreiros section (Lugo). SPAIN. DGC. Ministerio de Fomento El Rosario Health Centre (Tenerife). SPAIN. Gobierno de Canarias

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18 ENGINEERING AND SYSTEMS Our operations COMSA EMTE has been operating in the engineering and systems business since 1961, and has an international presence in markets such as Andorra, France, Finland, Mexico, Chile and Argentina Electrical Installations Maintenance and operation of high, medium and low voltage networks: Benito and EMTE Redes High, medium and low voltage installations: Benito, EMTE Instalaciones, Elican, EMTE Andorra, EMTE Norte Power stations, receiving stations and substations: EMTE Instalaciones, Elican, EMTE Andorra, EMTE Norte, Despi Ingeniería Railway electrification: EMTE Instalaciones Systems and Technology Telecommunications networks: EMTE Sistemas, Omnilogic and IPT Systems and communications integration in the railway sector: EMTE Sistemas Aeronautical and maritime systems: EMTE Sistemas Automation and control of industrial processes: EMTE Sistemas and Aritex Water engineering: Adasa and Deisa Hydrological and environmental information systems and warning and monitoring networks: Adasa Digital broadcasting signal distribution systems: Egatel Figures turnover 646M order book 658M jobs 3,870 Mechanical Installations Fire protection: EMTE Fire & Security and Eolis América Latina Air conditioning and ventilation: EMTE HVAC, Rochina and Eolis América Latina Cleanroom technology: EMTE Cleanroom Technology and Eolis América Latina Maintenance and Services Electromechanical and infrastructure maintenance: EMTE Service, Coibsa, Rochina Mantenimiento and EMTE Multiservicios Decorative fountains: EMTE Service Energy optimization: EMTE Service Facility Management: EMTE Service Facilities Management CHANGE IN TURNOVER (thousands of euros) 800, , , , , , , , , , ,

19 16 ANNUAL REPORT COMSA EMTE 2010 Electrical installations HIGHLIGHTS Electrification of the high-speed rail line from Vigo to A Coruña (Atlantic Line). Installations (power, ventilation and telecommunications) for the Madrid, Barcelona and Malaga metros. Contracts for extending the electricity grid in a number of states in Mexico. Benchmark in constructing DPCs (Data Processing Centres) for public and private customers. Assembly and installations for Lima s electric train (Peru). Installations in two new buildings for Banc Sabadell in Barcelona. CHANGE IN TURNOVER (thousands of euros) 350, , , , , , , , ,945 50, Electrical power supply for Figueres prison (Girona). SPAIN. Endesa Extending the electricity grid in the states of Sonora and Sinaloa. MEXICO. Comisión Federal de Electricidad

20 ENGINEERING AND SYSTEMS 17 Laying medium voltage cable on Line 9 of the Barcelona Metro. SPAIN. GISA Electrical installations in the Las Arenas business and leisure centre (Barcelona). SPAIN. Compañía de la nueva Plaza de Toros de Barcelona

21 18 ANNUAL REPORT COMSA EMTE 2010 Systems and Technology HIGHLIGHTS Consolidation in navigation projects for Spanish airports and increased international presence in countries such as Poland, Peru and Ecuador. New automated assembly systems for customers such as Airbus, Volkswagen and Gamesa. Implementation of the broadband system for emergency plan management at State dams (Confederación Hidrográfica del Guadiana). One of the 50 case studies of successful internationalization of Spanish companies in the ETIC (Electronics, Information and Communications Technologies) sector Prestige Book. Completion and commissioning of the WWTP in Saida (Algeria). Diversification in the deployment of telecommunications networks with government contracts in the Comunidad de Madrid (Region of Madrid) and Catalonia. Upgrading environmental monitoring and civil protection equipment in Honduras. Automated assembly processes for the central structure of the Airbus A-340 at its facility in Nantes (France). Integration of communications and remote control systems on the Murcia Tramway. Implementation of the broadband system for emergency plan management at C.H. del Guadiana dams. SPAIN. Ministerio de Medio Ambiente, Medio Rural y Marino Supply of transmission and multiplexing systems in Comodoro Rivadavia. ARGENTINA. Canal del Viento CHANGE IN TURNOVER (thousands of euros) 240, , , , , , ,509 80,000 40,

22 ENGINEERING AND SYSTEMS 19 Installation of passenger boarding bridges and aircraft support equipment for the expansion of the airport terminal in Santiago de Compostela. SPAIN. AENA WWTP in Saida. ALGERIA. Office Nationale de l Assainissement Lines of stringers for A350 aircraft wings in the factory at Stade. GERMANY. Airbus

23 20 ANNUAL REPORT COMSA EMTE 2010 Mechanical installations for La Maison de la Radio (Paris). FRANCE. Radio France Turnkey installations in the new R&D building. SPAIN. Parc Científic de Barcelona Mechanical installations HIGHLIGHTS Acquisition of the industrial HVAC firm EOLIS América Latina in Mexico. Benchmark in hospital HVAC installations in Spain and also abroad in countries such as France and Chile, with contracts including Amiens and Rancagua Hospitals respectively. Installation of fire protection at the Enagas regasification plant at Barcelona. Installation of fire protection at the combined cycle power plants at El Sitio (Venezuela) and Río Turbio (Argentina). Expansion of facilities at Alicante airport. Attendance at international fairs in Spain, France, Brazil, Argentina, Mexico and Algeria. Start of cleanroom facilities for Polfa Laboratories in Warsaw (Poland). CHANGE IN TURNOVER (thousands of euros) 180, , ,000 90,000 60,000 30, , , ,

24 ENGINEERING AND SYSTEMS 21 Solar photovoltaic industry production area in San Cibrao das Viñas (Ourense). SPAIN. T-Solar HVAC and lighting at the Valencia Casino. SPAIN. Grupo CIRSA Servicios Corporativos Fire-fighting facilities in the combined cycle power plant at Marseille. FRANCE. Alstom

25 22 ANNUAL REPORT COMSA EMTE 2010 Maintenance and Services HIGHLIGHTS Consolidation in the energy services market with contracts at the Port of Tarragona and the Gran Teatre del Liceu in Barcelona. Comprehensive installations maintenance at the Torre Caja Madrid in Madrid. Major business growth in the health sector in Levante. Installation of the first cybernetic fountain in Chile. Facilities management for Fundació La Caixa buildings in several Spanish cities. CHANGE IN TURNOVER (thousands of euros) 90,000 80,000 70,000 60,000 50,000 40,000 30,000 52,993 57,817 72,627 20,000 10, Multi-technical maintenance at Torre Espacio (Madrid). SPAIN. Inmobiliaria Espacio

26 ENGINEERING AND SYSTEMS 23 Maintenance at Marina Salud Hospital in Denia (Alicante). SPAIN. Marina Salud Illuminated fountain in Plaza de España in Melilla. SPAIN. Valoriza Agua Facility management for the Cosmocaixa building (Barcelona). SPAIN. Fundació La Caixa

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28 ENVIRONMENT Our operations COMSA EMTE s Environment business includes industrial waste management, energy recovery and urban services. It operates mostly in Spain and in international markets such as Chile and Argentina. Industrial waste: soil remediation, asbestos removal, landfill management, etc. Municipal waste collection and street cleaning Municipal and industrial waste treatment and recycling Integrated water management: supply, sewerage, irrigation systems, etc. Energy recovery plants Forest biomass Solar photovoltaics Figures CHANGE IN TURNOVER (thousands of euros) turnover 180M 240, ,000 order book 627M jobs , , ,000 90,000 60,000 30, , , ,

29 26 ANNUAL REPORT COMSA EMTE 2010 Industrial Waste HIGHLIGHTS Commissioning of the new non-hazardous industrial waste facility at Bolaños de Calatrava (Ciudad Real). New contract for the management of dehydrated sludge at two sewage treatment plants in el Baix Llobregat (Barcelona). Application of rubber powder in asphalt bitumen for CEPSA and REPSOL. Supply of rubber profiles and blankets to lessen vibration in railway track. Dismantling and recovery of railway equipment material for RENFE. Fibrocement and asbestos management in the decommissioning of SEAT workshops. Management of soil contaminated with hazardous substances in landfills. Managing dehydrated sludge at sewage treatment plants in el Baix Llobregat (Barcelona). SPAIN. EMSSA (Empresa Metropolitana de Saneamiento)

30 ENVIRONMENT 27 Non-hazardous industrial waste facility at Bolaños de Calatrava (Ciudad Real). SPAIN Dismantling and recovery of railway equipment material. SPAIN. RENFE Shredding rubber from used tyres at the GMN plant at Maials (Lleida). SPAIN Fibrocement pipe asbestos removal. SPAIN

31 28 ANNUAL REPORT COMSA EMTE 2010 R EB0 Pump Station. SPAIN. Comunidad de Regantes de la Terra Alta Urban Services HIGHLIGHTS Waste collection and street cleaning in north Barcelona. Barcelona City Council renews the contract for cleaning up graffiti in the city. Award of the waste collection service in Collbató and street cleaning in Sant Feliu de Llobregat, both in Barcelona province. Inauguration of new CLD facilities in L Hospitalet de Llobregat (Barcelona). Water supply management for Tortosa (Tarragona) and Sant Esteve Sesrovires (Barcelona). Urban wastewater treatment in Segrià (Lleida) and Sant Sadurní d Anoia (Barcelona). WWTP at la Roca del Vallès (Barcelona). SPAIN. ACA (Agència Catalana de l Aigua)

32 ENVIRONMENT 29 CLD facilities in L Hospitalet de Llobregat (Barcelona). SPAIN Waste collection and street cleaning services in Montgat (Barcelona). SPAIN. Ayuntamiento de Montgat Street cleaning services in Barcelona. SPAIN. Ayuntamiento de Barcelona

33 30 ANNUAL REPORT COMSA EMTE 2010 Engineering, Technology and Generation HIGHLIGHTS Partnership agreement with Tremp Town Council (Lleida) and the Centre Tecnològic Forestal de Catalunya (Forest Technology Centre of Catalonia) for pilot biomass energy crop planting. Completion of a 1.2 MWp pilot solar photovoltaic plant in the province of San Juan (Argentina). Award of the construction and degassing and energy use operation of two landfills in Granada. Liquid manure treatment in Miralcamp and Juneda (Lleida). Construction of liquid manure treatment and cogeneration plants at Zaidín and Capella (Huesca). Refurbishment and upgrading of eleven ornamental fountains in Barcelona. Construction of a landfill biogas plant in Antequera (Malaga). Photovoltaic plant in the province of San Juan. ARGENTINA. EPSE (Energía Provincial Sociedad del Estado) Landfill biogas plant in Antequera (Malaga). SPAIN. Diputación de Málaga

34 ENVIRONMENT 31 Refurbishment and upgrading of eleven ornamental fountains in Barcelona. SPAIN. Ayuntamiento de Barcelona Liquid manure plants at Zaidín and Capella (Huesca). SPAIN. SODEMASA (Sociedad de Desarrollo Medioambiental de Aragón, S.A.U.)

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36 TRANSPORT, LOGISTICS AND EQUIPMENT Our operations COMSA Rail Transport is COMSA EMTE s rail company that has been delivering rail freight services since GMF provides maintenance and spare parts services for rail vehicles. It also manages COMSA EMTE s fleet of equipment which consists of more than 160 motor vehicles and 400 wagons. Rail freight Rail traction Services in terminals Rental, repair and maintenance Manufacture and sale of spare parts Manufacture and sale of swap bodies Figures turnover 53M CHANGE IN TURNOVER (thousands of euros) 64,000 56,000 jobs 213 commercial trains operated 1,349 48,000 40,000 32,000 24,000 16,000 8,000 38,682 43,042 53,

37 34 ANNUAL REPORT COMSA EMTE 2010 Transport, Logistics and Equipment HIGHLIGHTS Running more than 1,349 commercial trains with own traction. COMSA Rail Transport is the first private railway company to have electric traction. Ibercargo Rail adds two new weekly trains to its rail service between Catalonia and Portugal, making a total of four per week. Ibercargo Rail completes its commercial freight transport acquisitions: 17 locomotives and over 200 wagons for 60- and 90-foot containers and swap bodies. Start of timber transport between the Adif terminal in Lugo and Louriçal (Portugal); four trains a week and around 12,000 tonnes per month. Iberian Steel, a company owned by Ibercargo Rail and Tramesa, launches the Levante Portugal Galicia rail corridor. The new multi-client service has a weekly frequency of four trains in each direction. Investees Autometro and Cargometro run more than 1,000 trains per year between Martorell and the Port of Barcelona. ADIF awards the contract for transporting materials used to assemble the Barcelona-French border high-speed rail line. GMF carries out more than 930 maintenance jobs on customer rail vehicles in 2010 and has its own maintenance personnel in Madrid, Medina del Campo, León, Asturias, Guadalajara, Constantí, Valladolid and Sagunto. In 2010 GMF gets more than 20 approval certificates for its vehicles to use ADIF, FEVE and ETS (Spain) and REFER (Portugal) rail networks. It also brings in for the first time a 1600-gauge tamping machine and ballast profiler for operations in Brazil. GMF has begun to make and sell spare parts in In 2010 GMF has trained another 18 equipment operators as health and safety officers, meaning 90% of its workforce now has this qualification, and has gained 95 new equipment authorizations for its personnel. Repairing wagons for customers in Constantí (Tarragona). SPAIN S tamping machine. BRAZIL

38 TRANSPORT, LOGISTICS AND EQUIPMENT 35 Ibercargo Catalonia-Portugal multi-client intermodal train. SPAIN Photograph: Manuel Zambruno International gauge traction services for the Port of Barcelona. SPAIN The first private electric locomotives in service in Spain

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40 CONCESSIONS Our operations COMSA EMTE s Concessions Business is divided into rail freight, road, real estate and car park divisions. COMSA EMTE Concesiones is currently handling investment projects coming to 1.55 billion. Railways: metros and tramways Road: motorways and dual carriageways Real estate: hotels, hospitals, prisons, court buildings and offices Car parks Figures turnover 48M investment 1.548B jobs 30 CHANGE IN TURNOVER (thousands of euros) CHANGE IN COMSA EMTE INVESTMENT (thousands of euros) 54,000 1,800,000 48,000 1,600,000 42,000 36,000 30,000 24,000 18,000 12,000 24,311 38,604 48,178 1,400,000 1,200,000 1,000, , , , ,546 1,203,191 1,548,215 6, ,

41 38 ANNUAL REPORT COMSA EMTE 2010 Railway concessions HIGHLIGHTS The European Investment Bank (EIB) renews and extends a loan to finance the construction of Lines 1 and 2 of the Malaga Metro. The International Association of Public Transport (UITP) awards the Madrid Western Light Railway the prize for Best World Initiative in its category. Award of the concession for the stations on Section II of Line 9 of the Barcelona Metro. The Sociedad Concesionaria Tranvía de Murcia receives 130 million to finance the construction of Line 1 on the Murcia tramway. Madrid Western Light Railway. SPAIN. MINTRA. Comunidad de Madrid Line 9 of the Barcelona Metro. SPAIN. Ifercat. Generalitat de Catalunya RAILWAY CONCESSIONS (in thousands of euros) BASIC FIGURES TOTAL INVESTMENT COMSA EMTE INVESTMENT Baix Llobregat tramway (Barcelona) 16.8 Km 320,340 37,736 Besòs tramway (Barcelona) 14 Km 257,240 33,133 Malaga Metro 13.6 Km 630,437 66,574 Western Light Railway (Madrid) 22.2 Km 584, ,246 Line 9 T4 on the Barcelona Metro 11 Km 619, ,047 Murcia tramway 16.7 Km 177,154 88,577 Line 9 T2 on the Barcelona Metro 10.7 Km 820, ,562 TOTAL Km 3,409, ,874

42 CONCESSIONS 39 Road concessions HIGHLIGHTS The Banco de Chile awards financing to concession company Ruta G-60 for the proposed road link between the city of Melipilla and the Camino de la Fruta, in the Metropolitan Region of Chile. The British magazine Project Finance recognizes Cedinsa with its Deal of the Year award for the financing of the C-25 dual carriageway (Eix Transversal). Commissioning of a new section of the Vic-Ripoll dual carriageway. Melipilla-Camino de la Fruta dual carriageway. CHILE. Ministerio de Obras Públicas. Gobierno de Chile Vic-Ripoll dual carriageway. SPAIN. GISA. Generalitat de Catalunya ROAD CONCESSIONS (in thousands of euros) BASIC FIGURES TOTAL INVESTMENT COMSA EMTE INVESTMENT Eix Llobregat (Barcelona) 40 Km 281,623 49,566 Madrid-Toledo motorway 77 Km 435, ,171 Maçanet-Platja d Aro (Barcelona) 28 Km 73,537 12,943 Vic-Ripoll (Cataluña) 49 Km 283,555 49,906 Eix Transversal (Cataluña) 151 Km 812, ,921 Melipilla-Camino de la Fruta (Chile) 31 Km 24,735 24,735 TOTAL 376 Km 1,911, ,240

43 40 ANNUAL REPORT COMSA EMTE 2010 Real estate concessions HIGHLIGHTS Final award by the Port of Barcelona of the second concession on the Nova Bocana site for the construction and operation of three buildings. Start of operations of the El Baix Llobregat County Hospital (Barcelona). Progress of work on the Mas d Enric prison at El Catllar (Tarragona). Hotel W Barcelona. SPAIN. Autoritat Portuària de Barcelona Mas d Enric prison at El Catllar (Tarragona). SPAIN. PTOP. Generalitat de Catalunya REAL ESTATE CONCESSIONS (in thousands of euros) BASIC FIGURES TOTAL INVESTMENT COMSA EMTE INVESTMENT Nova Bocana del Port of Barcelona 75,000 m 2 179,600 44,900 Nova Bocana Business 28,626 m 2 65,349 16,337 Courthouses in Terrassa and La Bisbal 22,279 m 2 27,339 27,339 Mas d Enric Prison 64,190 m 2 108, ,791 Sanibaix. Hospital Comarcal del Baix Llobregat 46,128 m 2 75,000 24,998 TOTAL 236,223 m 2 456, ,365

44 CONCESSIONS 41 Car parks HIGHLIGHTS COMSA EMTE Concesiones has more than 9,000 spaces in car parks under management and operation contracts. COMSA EMTE s investment in operated car parks comes to more than 73 million. Start of operations at the Moisès Broggi Hospital car park in Sant Joan Despí (Barcelona). The Government of Catalonia awards COMSA EMTE Aparcamientos the management of the car park at the Port of Arenys de Mar (Barcelona). New car parks under management: Clínica del Vallès (Sabadell) and Refugi d Obreres (Barcelona). CAR PARKS Santurtzi car park (Vizcaya). SPAIN. Ayuntamiento de Santurtzi SPACES MANAGED A Rosa in Santiago de Compostela (A Coruña) Praza Roxa in Santiago de Compostela (A Coruña) Avda. Sofía in Sitges (Barcelona) Plaza del Ayuntamiento in Logroño (La Rioja) Plaza del Prat in Gandía (Valencia) UPC car park (Barcelona) Ametzola car park in Bilbao (Vizcaya) Plaza Euskadi in Bilbao (Vizcaya) Arenys de Mar car park (Barcelona) Pere Virgili car park (Barcelona) Olesa de Montserrat car park (Barcelona) Santurtzi car park (Vizcaya) Llamaquique car park in Oviedo (Asturias) Moisés Broggi Hospital at Sant Joan Despí (Barcelona) Hotel W Barcelona. Nova Bocana (Barcelona) Clínica del Vallès in Sabadell (Barcelona) Refugi d Obreres car park (Barcelona) , Port of Arenys de Mar (Barcelona) 418 TOTAL 9,447 Car park on the UPC campus in Barcelona. SPAIN. Universitat Politècnica de Catalunya