BEFESA

Profit and Loss Account

Profit and Loss Account

Financial Data (M€)	2009	% Var (09-08)	2008	1999	%CAGR (99-09)
Sales	721.8	-17.4	873.4	169.7	15.6
EBITDA	118.7	-24.8	157.8	34.7	13.1
Net Profit	40.9	-30.3	58.7	14.5	10.9

Balance Sheet

Balance Sheet

Financial Data (M€)	2009	% Var (09-08)	2008	1999	%CAGR (99-09)
Total Assets	1,571.9	4.9	1,498.1	259.9	19.7
Equity	375.8	-13.5	434.6	108.7	13.2
Net Debt ex Project Finance (1)	46.8	-162.8	-74.4	67.3

Significant Variables

Significant Variables

Financial Data (M€)	2009	% Var (09-08)	2008	1999	%CAGR (99-09)
Margin (% EBITDA/Sales)	16.4	-9.1	18.1	20.4	-2.2
Profitability: % EAT on
- Equity (ROE)	10.9		13.5	13.3
- Total Assets (ROA)	2.6		3.9	5.6
EBITDA / Staff (k€)	44.3	-36.5	69.7	66.3	-4.0
Sales / Staff (k€)	269.2	-30.2	385.9	324.5	-1.8

_{EBITDA: Earnings before interest, tax, depreciation and amortization.}

_{EAT Parent: Earnings after tax attributable to the parent company.}

_{CAGR: Compound annual growth rate.}

_{⁽¹⁾ The negative sign makes clear that the cash and the financial temporary investments exceed to the bank debt.}