RENEWABLE ENERGY

José Manuel Entrecanales: “ACCIONA Energía’s IPO is only the beginning of a new era full of opportunities”
30 de June de 2021
  • Priorities: “The fight against climate change must become society’s number one priority.” Combating COVID and the climate crisis “must not be conflicting goals”
  • COVID-19: ACCIONA has been able to minimize the effects of the pandemic thanks to, among other initiatives, “an action plan aimed at protecting the company’s financial position”
  • Social cash-flow: In 2020, the company “contributed €7.8 billion in social cash flow, representing the value created and distributed to society as a whole”
  • Against CO2: “We have a business in which, more than €8 out of every €10 invested went towards financing projects that contributed to reducing greenhouse emissions”

“ACCIONA Energía is one of my greatest personal commitments and I believe that its IPO is one of the most important strategic decisions in the recent history of our company,” said José Manuel Entrecanales, ACCIONA’s CEO and Chairman, during this year’s General Shareholders’ Meeting, held online due to the pandemic.

In his speech, ACCIONA’s Executive Chairman stressed that “this IPO is just the beginning of a new era full of opportunities in one of the most important sectors of industrial progress today, namely the decarbonization of the economy.”

José Manuel Entrecanales listed the strengths of ACCIONA’s energy subsidiary. “From the point of view of our ESG (environmental, social and governance) ratings, we are the world’s leading electricity company according to the Dow Jones Sustainability Index, according to S&P and, for the sixth consecutive year, according to Energy Intelligence.” For ACCIONA’s Chairman, the company’s structure and solid balance sheet allow ACCIONA Energía “to be one of the most competitive companies in the sector, which, in turn, will be key to achieving the goal of 20GW in 2025 and more than 30GW in 2030.”

ACCIONA’s CEO and Chairman pointed out that the IPO of ACCIONA Energía will also allow “to continue developing opportunities in new emerging energy technologies.” These include hybridization, storage, floating photovoltaics, offshore wind and hydrogen.

INTERNATIONAL MILESTONES
José Manuel Entrecanales stressed that, in a year marked by the pandemic, ACCIONA has been able to overcome difficulties “and once again demonstrate, as we have done on previous occasions, what a great company we are.”

In his speech, ACCIONA’s Chairman highlighted the fact that ACCIONA has been able to minimize the negative effects of COVID-19 “thanks to the strength of its business, the commitment of its employees and an action plan designed to protect the company’s financial position.”

José Manuel Entrecanales emphasized that companies like ACCIONA “must play an essential role in economic recovery and the transition towards a decarbonized, circular and sustainable economy”. He also added that “attributes that we have always stood out for such as reputation, innovation, financial stability and social purpose” will be even more widely acknowledged by society and the market.

In this regard, ACCIONA’s Chairman highlighted that the company’s social initiatives in underprivileged communities, carried out through its foundation acciona.org, “have provided access to essential energy and water services to 64,000 people in Peru, Mexico and Panama.” Likewise, “initiatives aimed at the creation of local employment, labor integration of people at risk of social exclusion and access to education and public infrastructure have reached 626,000 people in 28 countries.”

Entrecanales recalled that the devastating effects of the pandemic “have been especially hard on the less developed economies, which have already been punished by the climate crisis.” In his opinion, “the combination of these two crises has been especially hard on the most disadvantaged nations and has been a setback in achieving many of the Sustainable Development Goals (SDGs).”

ACCIONA’s Chairman and CEO argued that combating both the health and climate crises should not, under any circumstances, be treated as conflicting objectives. “The fight against climate change must become society’s number one priority,” he added.

In his speech to shareholders, ACCIONA’s chief executive also reviewed the financial results of the company, which posted revenues of €6.47 billion in 2020, with a net profit of €380 million and an EBITDA of €1.12 billion; he also highlighted the net debt to EBITDA ratio of 4.21 times, which was “below the target level for the year, which at the beginning of the pandemic we had set at 4.5 times.”

Entrecanales described the figures for the year as “relatively good”, but pointed out a “favorable” outlook, “which allows us to resume the dividend path that we partially interrupted last year and propose a distribution of €3.9 per share, equivalent to a pay-out of 56.3%”.

In his speech to the GSM, ACCIONA’s Chairman also outlined the year’s main milestones. These include a series of highly complex international projects in both the energy and infrastructure sectors, such as the MacIntyre wind farm (Australia), the extension of the Broadway line of the Vancouver Metro (Canada), the construction and operation of Line 6 of the São Paulo Metro (Brazil), the new Hospital del Niño (Panama) and the construction and maintenance of the Fargo-Moorhead canal (US). “Today we are participating in many of the world’s most emblematic projects in our sectors of activity,” he said.

He also highlighted the company’s fiscal contribution during the year in the countries in which it operates. ACCIONA contributed to the creation of wealth in the different stakeholder groups and in society as a whole, with a social cash flow of €7.8 billion, which represents the economic value created and distributed by the company. Of this amount, ACCIONA made payments to suppliers amounting to €4.7 billion, salaries and wages to its employees for more than €1 billion and contributed another €1 billion for tax purposes in 2020.

ACCIONA’s Chairman also highlighted that the company has continued to revalidate its leadership position in sustainability and ESG criteria. “Today ACCIONA has a business in which more than €8 out of every €10 invested has gone towards financing projects that contributed to ‘significantly’ reducing greenhouse emissions, according to the demanding criteria of the European Union’s taxonomy of low-carbon activities.”

José Manuel Entrecanales highlighted the new Sustainability Master Plan (SMP) 2021-2025 launched by the company, which, after emphasizing on Responsibility and Resilience, is focused on Regeneration. “At this point, the private sector must not only avoid the negative impacts of its activity but must go further by contributing a positive net value to society and the environment.”

KEY AGREEMENTS
ACCIONA’s General Shareholders’ Meeting approved the 2020 financial statements and the Sustainability Report for the year, as well as the distribution of a gross dividend of €3.9 per share, to be paid on July 7th.

In addition, the Shareholders’ Meeting ratified the appointment of María Dolores Dancausa Treviño as an independent director for the statutory term of three years, as well as the re-election for the same term of José Manuel Entrecanales Domecq (Chairman) and Juan Ignacio Entrecanales Franco (Vice-Chairman) as executive directors; Daniel Entrecanales Domecq and Javier Entrecanales Franco, as proprietary directors; and Javier Sendagorta Gómez del Campillo, José María Pacheco Guardiola and Ana Saiz de Vicuña Bemberg, as independent directors.

With the appointment of Dancausa, the number of company directors increases to twelve, four of whom will be women (María Dolores Dancausa, Ana Saiz de Vicuña, Sonia Dulá and Christiana Figueres), which represents 33.33% of the total and places the company within the most demanding parameters of good corporate governance.

DATA PROTECTION INFORMATION

In compliance with Regulation (EU) 2016/679 on Data Protection and with other Data Protection regulations in force, you are hereby informed that your personal data shall be processed by Corporación Acciona Energías Renovables, S.A., whose identification data are as follows: Tax ID No. (NIF): A-85483311, Address: Avenida de Europa, 18, Parque Empresarial La Moraleja, Alcobendas (Madrid), Tel.+34 91 657 64 61. Your data shall be processed in order to address and manage your queries, requests, claims and suggestions, as well as send information, regarding our products and services through electronic means (all of these, hereinafter the “Request”).

The consent given by the data subject by indicating that they have read and accept this data protection information comprises the lawfulness of processing, and if a contract had been entered into with the interested party, legitimation shall be for the compliance of legal obligations derived from the aforementioned contract and for the enforcement thereof. We will only process the essential data that you provide in your application, such as your identification data (name, surname, language, contact details) and data related to the business area of your interest. The data shall be stored only for the time to attend and answer your Request, and in any case, never for more than twelve months.

In case your Request is related to other ACCIONA solutions or businesses, we may communicate your personal data to another entity of the Group (you can consult a list of ACCIONA Group companies at www.acciona.com/shareholders-investors/financial-information/annual-accounts/), in order to be able to deal with your Request in a more efficient way. We also may give access to your data to service providers (such as technology service providers) who assist us in fulfilling this purpose. Some of its service providers, may be located outside of the European Economic Area in territories that do not offer a level of data protection that is comparable to that of the European Union. In such cases, we transfer User data with appropriate safeguards and always ensuring the security of the same. By accepting the privacy terms, you consent to your data being transferred internationally in order for your Request to be properly processed.

The data subject can exercise their rights of access to or rectification, erasure or portability of their data, and/or the restriction of or objection to the processing of such data, by contacting to Corporación Acciona Energías Renovables, S.L., by writing the Department of Data Protection located at Avenida de Europa, 10, Parque Empresarial La Moraleja, 28108, in Alcobendas, Madrid, or by sending  the form available at:

FORM

If we consider it necessary in order to be able to identify you, we may ask you for a copy of an identity document. Furthermore, at any time the data subject may withdraw the granted consent by contacting the aforementioned address and file a claim to the Supervisory Authority (Agencia Española de Protección de Datos www.aepd.es).

For any further information you can visit the Privacy Police on the website.

 

DATA PROTECTION INFORMATION

In compliance with Regulation (EU) 2016/679 on Data Protection and with other Data Protection regulations in force, you are hereby informed that your personal data shall be processed by Corporación Acciona Energías Renovables, S.A., whose identification data are as follows: Tax ID No. (NIF): A-85483311, Address: Avenida de Europa, 18, Parque Empresarial La Moraleja, Alcobendas (Madrid), Tel.+34 91 657 64 61. Your data shall be processed in order to address and manage your queries, requests, claims and suggestions, as well as send information, regarding our products and services through electronic means (all of these, hereinafter the “Request”).

The consent given by the data subject by indicating that they have read and accept this data protection information comprises the lawfulness of processing, and if a contract had been entered into with the interested party, legitimation shall be for the compliance of legal obligations derived from the aforementioned contract and for the enforcement thereof. We will only process the essential data that you provide in your application, such as your identification data (name, surname, language, contact details) and data related to the business area of your interest. The data shall be stored only for the time to attend and answer your Request, and in any case, never for more than twelve months.

In case your Request is related to other ACCIONA solutions or businesses, we may communicate your personal data to another entity of the Group (you can consult a list of ACCIONA Group companies at www.acciona.com/shareholders-investors/financial-information/annual-accounts/), in order to be able to deal with your Request in a more efficient way. We also may give access to your data to service providers (such as technology service providers) who assist us in fulfilling this purpose. Some of its service providers, may be located outside of the European Economic Area in territories that do not offer a level of data protection that is comparable to that of the European Union. In such cases, we transfer User data with appropriate safeguards and always ensuring the security of the same. By accepting the privacy terms, you consent to your data being transferred internationally in order for your Request to be properly processed.

The data subject can exercise their rights of access to or rectification, erasure or portability of their data, and/or the restriction of or objection to the processing of such data, by contacting to Corporación Acciona Energías Renovables, S.L., by writing the Department of Data Protection located at Avenida de Europa, 10, Parque Empresarial La Moraleja, 28108, in Alcobendas, Madrid, or by sending  the form available at

Access the Form

If we consider it necessary in order to be able to identify you, we may ask you for a copy of an identity document. Furthermore, at any time the data subject may withdraw the granted consent by contacting the aforementioned address and file a claim to the Supervisory Authority (Agencia Española de Protección de Datos www.aepd.es).

 

For any further information you can visit the Privacy Police on the website.