General

In which business area is Abertis active?

Abertis is formed by companies directly managed or participated, operating in the sector of toll roads infrastructures. It is the leading worldwide group of toll-road operators and one of the largest in terms of stock market capitalisation. Abertis manages more than 8,300 kilometers of high quality, high capacity roads around the world in 12 countries.

What is the shareholder structure of Abertis?

See

Strategy and projects of Abertis

Abertis' vocation to be Spain's leading private toll road management group. Its goal is to meet the requirements for the movement of people and tangible goods, to which end it analyses and explores the business opportunities of a market which is, in the main, regulated and planned by governmental authorities.

Abertis' key characteristics include a long term outlook for investments, sustainable growth and national and international competitiveness, the global nature of its approach, a mission to actively participate in management and to ensure service quality and a close relationship with its customers. It aims, by means of efficient management and rigorous analysis of opportunities, to grow profitably, thereby guaranteeing growing, sustainable shareholder returns.

How can I keep up with the latest financial and economic news on the company?

See

The Stock Market

What is Abertis' share capital?

See

On which stock exchanges are Abertis shares listed?

Abertis shares are listed on the four Spanish stock exchanges (Barcelona, Bilbao, Madrid and Valencia).

How can I follow the shares' movements?

The share's listed price can be monitored on the majority of financial information systems and websites.

The Abertis on the stock exchange section of our corporate web page provides information on the daily closing price, adjustments for increases in capital, daily trading volumes, and more.

For more information: Abertis on the stock exchange

Merger

When did the merger between Acesa and Aurea take place?

Acesa Infraestructuras, S.A. (Acesa) and Aurea Concesiones de Infraestructuras, S.A. (Aurea) were last quoted as separate entities, before the merger took place, on 30 May 2003.

The exchange ratio was established at 93 newly-issued Acesa (now Abertis) shares for every 43 shares in Aurea, with the exchange taking place on the last weekend of May 2003.

Monday, 2 June 2003 saw the start of trading of Abertis shares on the stock exchange, adding to those which, until then, had been listed under the name of Acesa, those issued for the conversion of Aurea shares. However, for accounting purposes, the merger took place on 1/1/03.

Dividends

What is the company's dividend policy?

  • an interim dividend for the current year.
  • a final dividend issued in the subsequent year.

The dividends paid over recent years have been as follows : Dividends

Up to what point can I buy shares and still have the right to receive a dividend?

All those owning shares at close of market the day before the payment date have the right to receive the associated dividend. The payment date is specified in the dividend payment announcement published some days previously.

Increases in Capital (Bonus Share Issues)

Up to what point can I buy shares and still have the right to shares arising from a bonus share issue?

All those owning shares at close of market the day before the commencement of the period for negotiating subscription rights are entitled to receive the shares arising from a bonus share issue.

What does an adjusted listed share price mean?

The Abertis Infraestructuras S.A. bonus share issue mean that, to be able to make valid comparisons between the listed prices prior and subsequent to the scrip issue, the former prices must be adjusted.

The adjustment must be made because the bonus share issue doe not involve any change to the net asset situation of the company and hence the shareholder , which remains the same as before the bonus share issue, albeit spread over a greater number of shares.

For example, suppose a shareholder owns 20 Abertis shares

 

Before bonus share issue

After bonus share issue

No. of shares

20

21

Market prices

10.00 euros

?

Value of portfolio

200 euros

200 euros

  • The market value of the portfolio does not change due to the scrip issue = 200 euros
  • but he/she now has 21 share
  • as a result, the price of each share , due solely to the bonus share issue, changes to 200 ÷ 21 = 9.52 euros

Thus, if we were to compare a range of historical data with a price before the bonus share issueof, say, 10 euros and a subsequent one of 9.52 eurosit is wrong to say the value has fallen, since they relate to the same market value.

To “standardise” the data there is thus a need to adjust the pre-issue listed price as follows:

10 x 20 / 21 = 9.52 euros

So, now the prior listed price of 9.52 is the same as the post-issue one, and reflects the true comparative value of the shares.

To sum up, all the shares prices prior to the date of the increase in capital (script issue) must be adjusted, cumulatively if they have undergone more than one script issue, multiplying each by 20 and dividing the result 21.

To see listed share price: Presence on the stock exchange

Shareholder/Investor Information

What regular information do shareholders receive?

Abertis publishes a magazine available on this website.

If you would like to receive our publications by e-mail or by post to your home, you can send us an application for inclusion in our mailing list from this web page or you can phone us on (34) 902 30 10 15, in which case we will send you an application form by post to the address you indicate. 

To read Link Abertis magazine: Link Abertis magazine

How can I obtain a copy of the annual report?

Our corporate website has the annual reports for the last fifteen years online.

If you would like to receive a hard copy version, you can request one by e-mail from this web page or by telephone (+34 93 230 50 00).

To view annual reports online: Annual report

To request a hard copy version:  investor.relations@abertis.com

How can I get contact the shareholder information service?

Los accionistas podran solicitar la información o aclaraciones que estimen convenientes y/o formular sugerencias dirigiéndose a la Oficina de Atención al Accionista, en las direcciones que se indican a continuación.

Av. Pedralbes, 17 
08034 Barcelona
Tel. (+34) 902 30 10 15
Tel. (+34) 93 230 50 00
Fax. (+34) 93 230 58 98
investor.relations@abertis.com

Paseo de la Castellana, 39
28046 Madrid
Tel. (+34) 902 30 10 15
Tel. (+34) 91 595 10 00
investor.relations@abertis.com

 

Good Governance

What rights do shareholders enjoy?

Shares confer upon their legitimate owners the condition of shareholder and grant them the rights recognised in law and in the company's Memorandum and Articles of Association.

Under the terms established by law and the company's Memorandum and Articles of Association, and except in those cases contemplated by the former, shareholders shall enjoy, as a minimum, the following rights.

  • To participate in the distribution of company profits and in the assets arising from its liquidation. 
  • That of preferential subscription in the issues of new shares or convertible debentures. 
  • To attend and vote at Shareholders' General Meetings and to challenge company resolutions. 
  • The right to information.

Information on corporate governance

Shareholders' General Meeting

Board of Directors and committees

Significant shareholdings

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