Strategic Plan - FCC

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Financial Strategy Objectives Financial strategy aims to strengthen the Group's balance sheet and reduce bank debt 1 2 3 Financial Debt Reduction Cash Flow from Activities generation Diversification of funding sources Reduce net debt by € 2,700 Mn to € 5200 Mn Generate an annual Cash Flow from Activities (1) of € 850 Mn Reduction of the weight of bank debt over total 7.300 7.900 Antes Before Antes 2011 2011 2012 2012 5.200 5,200 Después After 1200 1000 800 600 400 200 0 100% 85% -90% 1.000 850 15% 90% 80% -85% 80% 13% 70% 11% 8% 60% 9% 50% 9% 7% 40% 250 5% 30% 20% 3% 2% 10% 1% 0% -1% Antes Before Antes After Después Antes Before Antes 2011 2011 2012 2012 2011 2011 2012 2012 60% -65% Después After Net Debt CF f/ Activities CF Act/ Revenues Bank loans (1) Cash flow at end of the period referred to the recurring cash generated from operations and investment 18
€ Million Financial Strategy Performance of debt The divestment program and the increase in cash from operations allow to address the investment plan and reduce debt in € 2,700 Mn Net Debt Performance 1.400 3.175 1.275 2.200 7.900 (1) 5.200 Current net debt (includes <strong>FCC</strong> Energy) Financial Expenses CapEx Operating Cash Flow Divestments Net Debt End of Period (includes Energy debt) Debt Increase Debt Reduction Net Debt (1) Energy-adjusted debt and intragroup debt Enerstar (2) Resources generated after-tax operating includes WK variations (2) 19
Page 1 and 2: March, 20 th 2013 Strategic Plan
Page 3 and 4: 1 Context and Sector Performance
Page 5 and 6: 2 FCC Group strengths and assets
Page 7 and 8: 3 FCC Group objectives and strategy
Page 9 and 10: FCC Group objectives and strategy O
Page 11 and 12: FCC Group objectives and strategy S
Page 13 and 14: FCC Group objectives and strategy 2
Page 15 and 16: FCC Group objectives and strategy 4
Page 17: 5 Financial Strategy
Page 21: Conclusion In a restrictive econom

Strategic Plan - FCC

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