ACCIONA, S.A. AND SUBSIDIARIES (Consolidated Group ...

Recommendations

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For the purposes of Royal Decree 1352/2007, of 19 October (Art 8.1-b) and Art. 11), the directors of Acciona, S.A. have made the following declaration of responsibility: To the best of their knowledge and belief, the consolidated financial statements prepared in accordance with the applicable accounting principles present fairly the equity, financial position and results of the issuer and of the consolidated companies taken as a whole, and the consolidated directors’ report includes a fair analysis of the required information. Certificate issued to attest that the directors of ACCIONA, S.A. are apprised of all the information contained in the 2011 consolidated financial statements and consolidated directors’ report of Acciona, S.A. and Subsidiaries (consolidated Group), submitted to the directors and authorised for issue by them at their meeting held on 23 February 2012, set out on 176 sheets, all of them signed by the secretary, bearing the Company seal and numbered as follows: Cover sheet …………………………………………………………. Contents ............................................................................... Consolidated balance sheet. ............................................... . Consolidated income statement. .......................................... Consolidated statement of comprehensive income .............. Consolidated statement of changes in equity ........................ Consolidated statement of cash flows ......................................... …………………………… Notes to the consolidated financial statements ..................... Consolidated directors’ report…………………………………….. In witness whereof, all of the Company's directors sign below: Page 1 Pages 2 & 3 Page 4 Page 5 Pages 6 & 7 Pages 8 & 9 Page 10 Page 11 to Page 147 Page 148 to Page 176 D. José Manuel Entrecanales Domecq D. Juan Ignacio Entrecanales Franco Chairman First Deputy Chairman _________________________________ ______________________________ D. Juan Manuel Urgoiti y López-Ocaña D. Javier Entrecanales Franco Second Deputy Chairman Director _________________________________ ______________________________ D. Valentín Montoya Moya Dña. Consuelo Crespo Bofill Director Director _________________________________ ______________________________ D. Carlos Espinosa de los Monteros y Bernaldo de Quirós Dña. Sol Daurella Comadrán Director Director _________________________________ ______________________________
Dña. Belén Villalonga Morenés D. Daniel Entrecanales Domecq Director Director _________________________________ ______________________________ D. Jaime Castellanos Borrego D. Fernando Rodes Vilá Director Director _________________________________ ______________________________ Dña. Miriam González Durántez Director _________________________________
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ACCIONA, S.A. AND SUBSIDIARIES (Con
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17. PROVISIONS 18. BANK BORROWINGS
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Translation of consolidated financi
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Beginning balance at 01/01/10 Adjus
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The Acciona Group's consolidated fi
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The financial statements of jointly
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Standards, amendments and interpret
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3.2 Accounting policies The princip
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The assets and liabilities acquired
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- The infrastructure is operated by
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Goodwill of companies The Acciona G
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The rates used, by division and cou
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- The concession operator receives
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- At fair value when it is possible
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Group policy on hedging: At the inc
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These assets are valued at the cost
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At 31 December 2010, Acciona, S.A.
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For each of the plans, any positive
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Machinery whose useful life exceeds
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The deferred tax assets and liabili
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These assets or disposal groups are
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- The results for tax purposes of t
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At 31 December 2011, the Group comp
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6.- Goodwill The changes in 2010 in
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In 2011, as in 2010, the main addit
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The Acciona Group's interests in as
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- Page 57 - Non-current Current Bal
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In 2011, since the lease expired, t
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At 31 December 2011, the Group comp
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The breakdown, by type of customer,
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c) Treasury shares The changes in 2
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The changes in the balance of this
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Leverage Millions of euros 2011 201
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isks and uncertainties which, inevi
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Provision for other longterm employ
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of obtaining the related waivers, d
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Foreign currency risk 31/12/11 +0.5
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Economic risk vs. budget variances
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In 2011, through its subsidiary Com
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Summary of effects on valuation adj
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22.- Other non-current and current
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On 12 February 2009, this Tribunal
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Reconciliation of the accounting pr
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At 2011 year-end, the period for of
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- Merger by absorption of Grupo Ent
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The detail of the cumulative income
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The breakdown, by geographical area
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27.- Expenses The detail of the Gro
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2011 (thousands of euros) Vessel Da
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2011 Infrastructure Real Estate Ene
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The detail of certain of the Group'
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C) ENERGY. In addition to the costs
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Expenses and income Significant sha
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35.- Remuneration and other benefit
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a) For each director belonging to t
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Beneficiaries: those persons who, a
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Vicente Santamaría de Paredes Cast
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36.- Other disclosures concerning t
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APPENDIX I GROUP COMPANIES The subs
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Page 132 and 133: Group company Auditor Operadora de
Page 136 and 137: APPENDIX II JOINTLY CONTROLLED ENTI
Page 142 and 143: Company Location Main business line
Page 144 and 145: APPENDIX V DETAIL OF CONSOLIDATED R
Page 146 and 147: Translation of a report originally
Page 148 and 149: % EBITDA Jan-Dec 10 Jan-Dec 11 Ener
Page 150 and 151: - The volume of business of the Rea
Page 152 and 153: ACCIONA Energy’s revenue increase
Page 154 and 155: Acciona Real Estate (Millions of eu
Page 156 and 157: Thanks to the positive performance
Page 158 and 159: Investments Net investments in 2011
Page 160 and 161: 18 April 2011: sale of Chilean conc
Page 162 and 163: 30 June 2011: ACCIONA submitted the
Page 164 and 165: Stock Market Data Share Capital Pri
Page 166 and 167: Before a decision is made to invest
Page 168 and 169: enhance environmental efficiency. I
Page 170 and 171: 166 ongoing R&D+i projects were con
Page 172 and 173: However, the fall in growth has bee
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