Crisis and opportunities

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The uneven effect that the crisis has had in corporate balance sheets illustrates various effects due to differentiated strategies. The companies that have profited from these years of economic growth by entering into new markets, enlarging their geographic base and diversifying their activities thanks to their know-how and managing capacities, have consolidated a more balanced and sustainable model.

 

Regarding Abertis, we have both internationalised and diversified our activities: More than 50% of our activity happens outside of Spain and almost 1,000 million euros of our annual income comes from businesses non-related to motorways. We have taken the opportunities that the economic cycle’s good years were offering in order to project and consolidate our corporate model of growth. Today we are stronger, facing the impact of the crisis in a sufficiently balanced way.

 

What is happening to us, on a macroeconomic level regarding countries and on a microeconomic level regarding businesses, is not independent from previous decisions that we have taken, neither by action nor omission. Furthermore, if the crisis’ origins were not alien to us, neither are the ways to exit from it. Neither businesses nor countries will recover from the crisis in a providential way.

 

Therefore, knowing how to take advantage of the current circumstances is required in order to take the decisions that will allow us to balance the public budget again. To reach this objective, we will have to make the necessary reforms that will orientate us to build growth models based in sectors with a minor exposure to the evolution of the economic cycle. This reaction capacity needs to be led by responsible politics, but politicians cannot be the only ones accountable for it. It is a shared responsibility in which all social and economic actors must feel equally engaged.

 

Salvador Alemany

President of Abertis

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