COMSA EMTE A benchmark group in the infrastructures and engineering sector

Communication Department COMSA EMTE March 2014

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A benchmark group in infrastructures COMSA EMTE is the second-largest Spanish unlisted group in the infrastructures and engineering sector. Founded in 1891, the company delivers comprehensive infrastructure, engineering, environment and technology services. COMSA EMTE has closed 2013 with a turnover of €1,575 million and more than 8,500 employees (on 31.12.13). One of the pillars of COMSA EMTE’s progress is its business operations abroad, where the company has a turnover of more than €750 million and a workforce in excess of more than 3,300 people. The group’s expansion over recent years has enabled it to put in place projects on five continents. COMSA EMTE is present in 25 countries: Algeria, Andorra, Argentina, Australia, Brazil, Chile, China, Colombia, Ecuador, France, Germany, Latvia, Lithuania, Mexico, Morocco, Panama, Peru, Poland, Portugal, Romania, Spain, Switzerland, Turkey, United States and Uruguay.

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More than 120 years of history The history of COMSA EMTE goes back to 1891, when GRUPO COMSA was founded in Reus (Tarragona). During its first few years the company focussed on track work and station renovation. In the 1930s the company moved its head office to Barcelona and became a public limited company under the name Hijos de José Miarnau Navás. In the 1940s it diversified its business activities and began constructing bridges, roads, buildings, etc. In 1961 EMTE was founded under the name Estudios, Montajes y Tendidos Eléctricos. Initially, its main business activity was building electricity production and distribution installations for electrical utility companies. In 1964 Hijos de José Miarnau Navás changed its name to Construcciones Miarnau, S.A., while in 1970 Estudios, Montajes y Tendidos Eléctricos became a public limited company and its corporate name was shortened to the acronym EMTE. The 1970s was also the decade in which EMTE began operating in the fields of low-voltage electricity and HVAC installations. In the 1980s COMSA consolidated its presence across the country while EMTE set up a number of companies specialising in the development of control systems, telecommunications and electronics and began to expand throughout Spain. In the 1990s COMSA started up its internationalisation process and EMTE began to implement its first projects in energy generation and waste treatment. In the new century COMSA is ramping up its presence abroad and now operates in over a dozen countries on four continents, while EMTE has set up new companies such as Emae Renovables and acquired others such as Omnilogic, Rochina, IPT, Egatel and Luwa. Special mention should be made of the start-up of EMTE’s operations abroad between 2004 and 2006, with a presence in Argentina, Australia, Brazil, Chile, France, Finland, Mexico, Peru and Portugal. In 2007, Caja Madrid and Banco Sabadell bought shareholdings in EMTE. In 2009 COMSA and EMTE merged with the goal of consolidating and expanding their leadership in their respective fields.

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International commitment Internationalization is one of the main strategic areas at COMSA EMTE. 2013 was marked by intensified international expansion of the Group's activities. Foreign contracts in 2013 exceeded 750 million euros, 47% of the group total. COMSA EMTE is present in 25 countries and has made major strides in the last year in its international business. In Europe special mention should be made of the conclusion of the Ankara Metro (Turkey), construction of the Lugo-Deva (Romania) motorway or a contract for the Airbus A350 XWB in Nantes (France). The company has also consolidated its position in the railway sector in Eastern Europe, with the Rail Baltica project in Lithuania or the renovation of the Fosowskie-Opole (Poland) railway line. In 2013 COMSA EMTE has continued to grow in Latin America with work line construction and renovation of roads in Colombia, Mexico and Ecuador, duplication of the railway line between São Roque and Campinas (Brazil), the construction of buildings for the University of São Paulo (Brazil), electrical installations in various states of Mexico or the water treatment plant for the India Urquia power station (Venezuela). A feature in Africa is the activity in Algeria, with the construction of a pharmaceutical plant for the Saidal Group and the Tébessa special waste landfill, as well as the supply and installation of analogue and digital transmitters and the commissioning of the Mecheria WWTP. In 2013 it has also increased the Cape Verde electricity grid and it has supplied and installed air navigation aid systems at various airports in Morocco. Additionally, COMSA EMTE has strengthened its presence in the Asian market with the opening of production centre in Shanghay (China) to serve the local aeronautics industry and, in the field of air navigation, it has supplied an air traffic control system at the airport in Kathmandu (Nepal). Its specialization in railways, control systems and telecommunications, renewable energy and water engineering, combined with a range of services that are characterized by their innovation, technology and excellence, position COMSA EMTE as a benchmark player in these sectors while at the same time providing a differentiating value in markets that are becoming more and more demanding and increasingly mature.

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Main figures COMSA EMTE turnover €1.575 b

Infrastructures and Engineering €1.254 b

Services and Technology €288 m

Concessions and Renewable Energy €32 m

International turnover €751 m

Workforce 8,557 people

BUSINESS AREAS Infrastructures The origins of GRUPO COMSA date back to 1891 when it started out in track work and station renovation. Today it is one of the leading constructors in Spain. The company offers comprehensive services in the rail sector which encompass the construction and maintenance of railway infrastructures and superstructures for high-speed and conventional rail, metros, tramways, etc. It is the leader in Spain in this business area and it also has operations in Argentina, Brazil, Lithuania, Poland, Portugal, Turkey and the United States. It has also taken part in a large number of projects in other markets such as Australia, India, Italy, Malaysia, the Philippines, Taiwan, etc. It carries out a wide variety of projects in the construction sector including roads, hallmark buildings, airports, urban development, maritime, port and hydraulic projects, tunnels and underground projects, upkeep and maintenance of roads, etc. Aggregate and Precast Concrete COMSA EMTE works through investee companies to produce and market quarry aggregate for the construction industry and to make precast concrete railway components.

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Electrical installations COMSA EMTE provides its extensive experience in managing and implementing electrical installation projects. It delivers maintenance and operation of high, medium and low voltage grids, high, medium and low voltage installations, power stations, receiving stations and substations, and rail electrification. Mechanical Installations COMSA EMTE’s Mechanical Installations division covers HVAC, cleanroom technology and fire protection engineering for the service and industrial sectors. Systems COMSA EMTE offers comprehensive solutions in systems engineering for more than 25 years. The company is specialized in the development of telecommunications networks, air and maritime navigation systems, integration of systems and communications in the railway sector and automation and industrial process control. Technology In the technological sector COMSA EMTE is specialized in water engineering (Deisa), hydrological and environmental systems (Adasa), diffusion systems for digital radio/television signals (Egatel) and automation technology for the aeronautic and automotive industry (Aritex). In this sense, the company has an important international activity in the technological area, with projects in markets such as Algeria, Argentina, Australia, China, Colombia, France, Germany, Morocco, Mexico or Poland, Environment In the Environmental business COMSA EMTE encompasses construction and environmental services activities related to industrial waste management (soil remediation, asbestos removal, landfill management), urban services (municipal waste collection and street cleaning and integrated water management) and energy recovery (municipal and industrial waste treatment and recovery, energy recovery plants, forest biomass, solar photovoltaic energy).

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Transport, Logistics and Equipment Through parent company COMSA Rail Transport and investee enterprises, the group delivers rail freight services, services in terminals and rail traction for various needs. The company GMF provides maintenance and spare part services for rail vehicles (rental, repair and maintenance, manufacture and sale of spare parts and swap bodies). It also manages COMSA EMTE’s fleet of equipment. Maintenance and Services COMSA EMTE provides building and infrastructure maintenance, energy services, ornamental fountains and facility management. Concessions COMSA EMTE has a presence in all spheres of partnership with government in the financing and management of infrastructures. Its concession operations are divided into roads (motorways and dual carriageways), rail transport (metros and tramways), real estate and equipment (hotels, hospitals, prisons, court buildings, offices) and car parking facilities. Renewable Energy Promotion, operation and maintenance of special system energy generation facilities. It currently has projects in wind energy, solar photovoltaic energy (on the ground and on rooftops), solar thermal energy and biomass energy recovery.

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Innovation Innovation is a fundamental pillar in COMSA EMTE’s corporate philosophy. The company holds the UNE 166.002 certificate by means of which AENOR certifies its R+D+i management system. Today COMSA EMTE has 40 ongoing innovation projects. During 2013 it carried out R+D+I activities and projects for the sum of 8.2 million euros. In the area of infrastructure, COMSA EMTE is developing new materials for railway track substructure with improved physical and mechanical properties. In the engineering area, special mention should be made of a new Remote Inspection System for Transmission Towers ('SIDTE'), a project developed jointly with the UPC (Polytechnic University of Catalonia) that has created a smart grid capable of remote detection of possible damage to the electricity distribution network caused by adverse weather conditions. COMSA EMTE is currently a member of the Connect-EU de ACC1Ó network and an active member of the Clúster d'Eficiència Energètica de Catalunya (CEEC). ----------------------------------------------------------------------------------------------------------