"2014 was a year in which the global economy continued to recover, although not all countries did so at the same pace."
"The difficulties faced by the Company in recent years have not prevented us from solidifying and confirming our business model, and that encourages us to look to the future with confidence and assurance."
"ACCIONA has responded flexibly and with great energy, launching an Action Plan to mitigate the impact of regulatory change and maintain its line of growth and value creation in Energy and Infrastructure".
"Overall, 2012 was a year fraught with difficulties for the business community worldwide. Positive events were few and far between, economic activity weakened throughout the year and Europe saw its member nations either teeter on the brink of recession or succumb to it directly; the situation was not only adverse but also volatile, marked by increased financial market instability during the first half of FY2012."
"The year 2011 stood out for rising international financial and economic tensions, particularly in the European Union where we have witnessed the introduction of extremely austere fiscal policies, the progressive deleveraging of the banking sector and, consequently, increasing difficulties to obtain credit; at the same time, marked uncertainty has surrounded thesovereign debt of the Euro zone overall."
"FY2010 and the opening months of 2011 saw increased international geopolitical conflicts owing to global social upheaval and as a result of the worldwide financial tensions that, among other consequences, forced the EU to rescue three member states. Yet certain developed economies have shown recovery and a number of emerging markets -India and China in particular- have displayed dynamism, giving rise to 4% global growth at end 2010."
"Fiscal Year 2009 was marked by the severe impact of the global financial and economic downturn, giving rise to a highly complex situation without precedent in the last decades. Despite this difficult context, ACCIONA achieved some solid results in this fiscal year and is ready to meet the challenges that lie ahead armed with a consolidated business model and great potential for growth."