Highlights (million euros)

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

Operating revenues

9,568

10,164

11,467

13,322

14,255

15,294

16,659

19,287

18,989

26,295

Net income

407

422

432

481

582

707

717

758

875

1,011

Operating income

668

776

734

943

1,063

1,277

1,194

1,404

1,658

2,629

Net cash flow

868

1,033

926

1,157

1,332

1,474

1,558

1,969

2,150

3,182

Dividends

171

179

188

207

252

308

326

361

397

499

Investments

971

1,127

1,281

1,075

1,147

1,221

1,903

3,052

2,217

17,711

Total assets

7,144

7,628

8,090

9,148

9,656

10,028

12,973

16,052

17,351

42,050

Net debt

201

63

1,083

1,339

1,445

1,054

2,293

3,296

3,534

17,137

Shareholders' equity

2,443

2,705

2,891

3,173

3,538

3,955

5,096

5,557

6,043

12,526

Shareholders' equity

2.443

2.705

2.891

3.173

3.538

3.955

5.096

5.557

6.043

12.526







MAIN INDICATORS

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

PESETA/DOLLLAR EXCHANGE RATE
Yearly average (Bank of Spain)

102,02

104,1

102,12

127,35

133,94

124,73

126,66

146,45

149,95

156,368

Year-end (Noon-buying rate) (1)

95,75

95,98

114,92

143,15

131,73

121,4

129,86

152,4

142,15

165,229


OTHER INDICATORS

Other Indicators

GDP growth in Spain (%)

3.6

2.3

0.7

-1.2

2.1

3.0

2.6

3.4

3.6

3.7

Consumer price index in Spain (% yearly average)

6.7

5.9

5.9

4.6

4.7

4.3

3.2

2.0

1.4

2.9

Price of Brent oil (dollars per barrel, yearly average)

23.5

20.0

19.3

17.0

15.8

17.0

20.5

19.1

12.7

18.0