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February 24, 2011 at 02:30 AM EST
Abengoa Announces Consolidated Revenues Increased by 34% and Reached 5,566 M€

Abengoa, the company that develops innovative technology solutions for sustainable development, reported today that its revenues rose by 34% in the year 2010, to 5,566 M€, while EBITDA increase by 26% to 942 M€.

Net income reached 207 M€, a 22% increase from the previous year resulting in an earnings per share of 2.29 €. Both corporate and total debt levels were slightly below those at the end of 2009.

International activities, which accounted for 74% of total revenues, increased by 32% to 4,135 M€, compared to the previous year, with significant increases in the Americas which represent 50% of the consolidated revenues for the company. In particular, Brazil accounts for 20% and the United States for 16% of total revenues.

With respect to the business segments, the Engineering & Construction activity backlog at December 31, 2010 totaled 9,274 M€, which provides a good outlook over the company´s revenues for the next 24 months, and a great visibility over 2011 objectives, as backlog represents about 90% of expected revenues for this business unit.

The Concession-type Infrastructure segment, which primarily includes electricity generation and transmission, accumulated a backlog at December 31, 2010 of more than €34.0 billion, as a result of the 31 energy generation plants and the 10,000 km of transmission lines in operation or under construction that the company has as of today. During 2010, three Concentrated Solar Power plants, four transmission lines and one desalination plant went into operation.

Finally the Industrial Production segment produced a record number of 2.3 billion liters of biofuels and recycled 2.2 million tons of industrial waste. Three new bioenergy plants went into operation, two of them in the United States and the other one in the Netherlands. We also started expansion in Turkey with the industrial waste business.

According to Manuel Sánchez Ortega, CEO of Abengoa, “In an extremely complex environment, we have managed to continue to grow our revenues significantly. We have improved the profitability of our business segments, increased our backlog, continued developing our projects for new plants and transmission power lines, and progressed on our R&D efforts. All together represent a new step in our strategy of delivering results in the short term and simultaneously continue investing in technology innovation and new plants that guarantee value creation in the medium and long term. Abengoa´s team has done an excellent job during 2010 and they are the best guarantee for the company’s future”.

Conference Call Details

Abengoa’s CEO, Manuel Sánchez Ortega, and Finance Director, Amando Sánchez Falcón, will conduct a conference call to discuss financial results for the full year 2010 at 3:00 p.m. (Madrid time), 2:00 p.m. (London time), 09:00 a.m. (New York time).

In order to access the conference, please dial: +34 91 788 93 03

A live webcast of the conference call will be available on Abengoa’s Corporate Website. Please visit the website at least 15 minutes early to register for the teleconference webcast and download any necessary audio software.

About Abengoa

Abengoa (MCE: ABG) is an international company that applies innovative technology solutions for sustainability development in the energy and environment sectors, generating electricity from the sun, producing biofuels, desalinating sea water and recycling industrial waste. (www.abengoa.com).

Forward Looking Statement

This presentation contains forward-looking statements and information relating to Abengoa that are based on the beliefs of its management as well as assumptions made and information currently available to Abengoa.

Such statements reflect the current views of Abengoa with respect to future events and are subject to risks, uncertainties and assumptions.

Many factors could cause the actual results, performance or achievements of Abengoa to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which Abengoa does business, changes in interest rates, changes in inflation rates, changes in prices, changes in business strategy and various other factors.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or targeted.

Abengoa does not intend, and does not assume any obligations, to update these forward-looking statements.

Additional Information

Revenues (M€) 2010 Var (%) 2009
Engineering & Construction 3,121 +26 % 2,481
Concession-type infrastructures 308 +41 % 219
Industrial Production 2,137 +48 % 1,447
Total 5,566 +34 % 4,147
EBITDA (M€)
Engineering & Construction 415 +7 % 389
Concession-type infrastructures 208 +46 % 143
Industrial Production 319 +46 % 218
Total 942 +26 % 750
EBITDA Margin
Engineering & Construction 13 % 16 %
Concession-type infrastructures 67 % 65 %
Industrial Production 15 % 15 %
Total 17 % 18 %

Contacts:

Abengoa
Investor Relations:
Barbara Zubiria, +34 954 937 111
ir@abengoa.com
or
Communications Department:
Patricia Malo de Molina, +34 954 937 111
comunicación@abengoa.com
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