To facilitate ongoing contact with the company’s shareholders, Abengoa has an Investor Relations Department, the purpose of which is to establish transparent and fluid communication with shareholders/investors. The Director of Investor Relations, in coordination with the Chief Financial Officer and the Director of Corporate Strategic Development, has the duty of designing and implementing the communication program with national and international financial markets in order to make the company’s main financial figures and strategic initiatives known to both private and institutional investors.

Abengoa’s commitment to shareholders and financial analysts is to provide outstanding service, ensuring that thorough and accurate information is available to them within the framework of corporate governance practices adhering to the most stringent standards.

The Abengoa management team fully appreciates the need for total commitment to the efforts of the Investor Relations Department. Likewise, there is an ongoing two-way relationship with other corporate departments and areas in order to obtain updated information.

The core objectives of the Investor Relations Department are the following:

  • To draw up an activity program with respect to analysts and investors in order to achieve the right share price, to transmit information efficiently to stakeholders.
  • To obtain added value for the company by generating information that is useful to the Board of Directors and other management bodies.
  • To gain the right Company positioning in the stock market.
  • To provide the market with clear, useful and current information in order to monitor the company’s performance.
  • To increase share value and liquidity through fluid communication with the market and the company’s shareholders.

Marking a new development in 2009 arising from the emissions of corporate bonds Abengoa issued in June and November, company stakeholders have since expanded to include the holders of these bonds, to whom the company is providing the necessary information and support in response to their requests.

Channels for Dialogue with Shareholders and Investors

Abengoa’s relationship with its investors and shareholders was fortified in 2009 as the company addressed their suggestions and requests with a view to providing better service. Transparency in reporting information is a governing principle of this rapport, as well as closeness in the company’s dealings with its stakeholders.

Since 2006, quarterly earnings reports include, in addition to basic mandatory information, a comprehensive document that analyzes the performance of each of Abengoa’s business units, as well as the most significant financial figures. These quarterly results are presented over the telephone using audio systems and via audio/video on the Internet.

In addition, the department in charge of shareholder and investor services took part in a total of 15 public presentations, or national and international road shows, affording it the opportunity to address more than 500 institutional investors in person. These initiatives with investors and analysts provided the chance to visit key marketplaces in Europe and the United States.

With respect to these gatherings with analysts and investors, special mention must be made of the presentation held in Madrid on February 24, 2009 to release the financial results for 2008.


The corporate website, published in Spanish and English, constitutes the main tool for communicating with all of Abengoa’s stakeholders, and particularly with shareholders, investors and financial analysts. The website is continuously updated so as to gather all pertinent information, thereby ensuring that decision-making is based on full knowledge of the company’s financial and strategic situation.

Case Study Bouds Issued in 2009

On the occasion of Abengoa’s issuance of corporate bonds in June 2009 and November 2009, the Department of Investor and Shareholder Relations, in coordination with the Financial Department, held various events to enable bond holders to gain understanding and delve deeper into company reality. In this regard, conference calls were set up to explain the main strategic purposes behind the bond issuance, and all questions or doubts regarding Abengoa’s new line of financing were addressed by telephone or e-mail.

The company also set up a new corporate website space intended to provide all sorts of information on Abengoa’s two issuances of corporate bonds in 2009 (2014 convertible bonds, 2015 bonds). This information can be accessed via the Investors section.

2009 Milestones
  • Quarterly earnings presentations, including a question and answer segment to clarify any doubts arising during the presentation.
  • Attendance at seminars and road shows. The department in charge of shareholder and investor services took part in road shows, with the chance to address institutional investors in person.
  • Responses to the queries sent in to the mailbox.