Telvent Announces Second Quarter 2009 Financial Results

* Six-month Non-GAAP Revenues Increase 27.7% to EUR363.1 Million
* Six-month Adjusted EBITDA of EUR52.1 Million, an increase of 126.3%
* Year-to-Date Bookings of EUR392.5 Million, a 19.7% increase
* Six-month Non-GAAP Diluted EPS of EUR0.60
MADRID, Spain, Aug. 27, 2009 (GLOBE NEWSWIRE) -- Telvent GIT, S.A.
(Nasdaq:TLVT), the IT company for a sustainable and secure world, today
announced its unaudited consolidated financial results for the second quarter
and six-month periods ended June 30, 2009.

Non-GAAP revenues for the second quarter of 2009 were EUR185.3 million, compared
to EUR148.3 million in the second quarter of 2008. Non-GAAP revenues for the
first six months of 2009 were EUR363.1 million, an increase of 27.7%, compared
to EUR284.4 million for the first six months of 2008. Excluding the impact of
DTN, which was acquired in October of 2008, Non-GAAP revenues for the first six
months of 2009 grew by 4.3%.

Non-GAAP gross margin was 34.5% for the second quarter of 2009, compared to
24.5% in the second quarter of 2008. Non-GAAP gross margin for the first six
months of 2009 was 36.6%, compared to 25.5% in the same period of 2008.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA)
for the second quarter of 2009 were EUR24.4 million, or 13.2% of total Non-GAAP
revenues for the period, compared to EUR10.4 million and 7.0% in the second
quarter of 2008. Adjusted EBITDA for the first six months of 2009 was EUR52.1
million, or 14.4% of total Non-GAAP revenues for the period, compared to EUR23.0
million and 8.1% in the same period of the prior year.

Non-GAAP operating margin for the second quarter of 2009 was 11.2%, compared to
5.6% in the second quarter of 2008. Non-GAAP income from operations increased
150.3% to EUR20.7 million in the second quarter of 2009, compared to EUR8.3
million in the second quarter of 2008. Non-GAAP operating margin for the first
half of 2009 was 12.4%, compared to 6.7% in the first half of 2008. Non-GAAP
income from operations increased 135.1% to EUR44.9 million in the first half of
2009, compared to EUR19.1 million in the same period of the prior year.

Non-GAAP net income attributable to the parent company for the second quarter of
2009 was EUR9.9 million, 116.5% above the EUR4.6 million reported in the second
quarter of 2008. Basic and diluted Non-GAAP EPS for the second quarter of 2009
was EUR0.29, compared to EUR0.16 in the second quarter of 2008. Non-GAAP net
income attributable to the parent company for the first six months of 2009 was
EUR20.5 million, 74.0% above the EUR11.8 million reported in the same period of
2008. Basic and diluted Non-GAAP EPS for the first six months of 2009 was
EUR0.60, compared to EUR0.40 in the same period of 2008. Basic and diluted
Non-GAAP EPS were determined by using a weighted average number of shares issued
and outstanding in the second quarter and first half of 2009 of 34,094,159 and a
weighted average number of shares issued and outstanding in the second quarter
and first half of 2008 of 29,247,100.

New order bookings, or new contracts signed, during the second quarter of 2009
totaled EUR164.2 million, compared to EUR159.2 million recorded in the same
period of 2008. The accumulated bookings year-to-date were EUR392.5 million,
representing a 19.7% increase from EUR328.0 million reached in the same period
of 2008.

Backlog, representing the portion of signed contracts for which performance is
pending, was EUR888.5 million as of June 30, 2009, reflecting 21.8% growth over
the EUR729.2 million in backlog at the end of June 2008.

Pipeline, measured as management's estimates of real opportunities for the
following twelve to eighteen months, is approximately EUR3.6 billion.

As of June 30, 2009, cash and cash equivalents were EUR113.8 million and total
debt, including net EUR21.1 million credit line due to related parties, amounted
to EUR331.0 million, resulting in a net debt position of EUR217.2 million. As of
December 31, 2008, the Company's net debt position was EUR208.6 million.

For the first six months of 2009, cash provided by operating activities was
EUR25.7 million compared to EUR80.2 million used in operating activities in the
same period of 2008. Cash used in investing activities in the first six months
of 2009 amounted to EUR34.3 million compared to EUR38.2 million provided by
investing activities in the same period of 2008.

Manuel Sanchez, Telvent's Chairman and Chief Executive Officer, said, "I am very
pleased that once again we have been able to deliver another strong quarter,
maintaining our double-digit top and bottom line growth while improving the
efficiency of the company. The integration of DTN is proceeding better than
expected and it is providing the results and margin improvements that we had
forecasted."

"I am also pleased to say that we are seeing a very strong momentum in the Smart
Grid industry, where utilities are announcing new deployments and pilot programs
on a daily basis, supported by governmental agencies and energy departments.
These facts are encouraging and we continue to work hard on our Smart Grid
solutions offering, that should allow us to consolidate new significant
proposals with key customers in the forthcoming quarters," he concluded.

Business Highlights

Energy

Some of the most relevant projects signed during the second quarter of 2009 were
as follows:

* Contract signed with Progress Energy, in the United States, to
develop and implement an electric distribution system substation
communications platform. The new platform will support the goals
of the energy provider's comprehensive Distribution System Demand
Response (DSDR) project. This project will help Progress Energy
to deliver power more efficiently through equipment and
technology enhancements to its existing electrical system. The
real-time information available through this system will allow
network operators to efficiently reduce load during periods of
peak demand and maintain consistent voltage to all customers,
avoiding outages without increasing peak generation capacity.

* We carried out the successful operational start-up of our OASyS
supervisory control and data acquisition (SCADA) system on the
Lan-Zheng-Chang oil pipeline, owned by Petrochina Company Limited
and the longest oil pipeline in China. Telvent technology has
already begun supervising the operation of this 2,100-kilometer
pipeline, improving security and sustainability. Petrochina has
invested more than EUR7.5 million in this project to gain
real-time control of its oil pipeline operation. Telvent system
will supply continuously updated information on pipeline status
and operations that should not only increase pipeline security,
but also efficiency and security of the Chinese petroleum
company's petroleum extraction and transportation operations.

* Contract signed with Consumers Energy to integrate Responder,
Telvent's Smart Grid Outage Management system (OMS), with its new
Advanced Metering Infrastructure (AMI) technology. Based on this
integration and testing of various AMI options, Consumers Energy,
a Jackson, Michigan-based utility, will leverage intelligent
meter data in Responder for enhanced network analysis and
management, including outage prediction and restoration efforts.
This software has been integrated with Consumers Energy's
enterprise systems, including the work management systems that
control mobile crew communications and the SAP customer service
system.
Transportation

During the second quarter of 2009 some of the significant contracts signed were:

* Contract with the "I-95 Corridor" coalition, in the United
States, to design, implement and operate a pilot system for
real-time vehicle information and guidance for truck drivers
(SmartPark), which will enable the truck fleet to obtain
information via cell phone or Internet on the availability of
parking places at rest stops and truck parking facilities. The
system will include 40-65 parking lots throughout eight states.
Implementation of this system is intended to improve safety and
traffic flow and enable a reduction in fuel consumption. This
project highlights Telvent's solid technology capability, in
addition to enabling the development of a new business model
focused on improving navigation systems.

* The project to develop a new railway traffic management simulator
for ADIF, the Spanish Administrator of Railway Infrastructure.
Through the use of innovative simulation techniques, Telvent will
recreate a complete railway control center in the training rooms
equipped for this purpose. This innovative simulation system will
not only reinforce personnel training and improve professional's
training itineraries, but will also heighten security and
efficiency levels, optimizing railway network management.
Moreover, the project will benefit both ADIF personnel in
facilitating their work, as well as the passengers that should
enjoy a higher quality of service.

* Contract with the Florida Department of Transportation (FDOT), in
the United States, to provide telecommunications consulting
services. Telvent will collaborate with FDOT in defining,
expanding, operating and maintaining transportation department
telecommunications infrastructure, in addition to ITS system
planning and implementation activities.
Environment

During the second quarter of 2009, significant contracts signed were:

* Contract with South Florida Water Management District (SFWMD) for
the delivery of software, hardware, training, consultation and
other services related to their existing OASyS SCADA system. Over
the next several years, SFWMD plans to enhance, expand and
upgrade their existing system, as well as increase the areas in
which OASyS and associated applications are used in the District.

* Contract with MeteoSwiss, the Federal Office of Meteorology and
Climatology of Switzerland, to provide automatic weather stations
for the next phase of SwissMetNet, the Swiss Meteorological
Network. The objective of SwissMetNet project is to deploy a
network of automatic stations throughout Switzerland that will
provide accurate real time weather information. Telvent will
provide MeteoSwiss with new generation Telmet320 automatic
weather stations that will be fully integrated in the existing
network, which also incorporates Telvent technology for the
weather stations, as well as for the related data collection,
processing, reporting and display systems. Additionally, Telvent
is providing maintenance and support for these systems through a
service level agreement.
In addition, Telvent DTN's environment information business is one of the
largest for-profit weather services providers in the U.S. and leverages its
investment in advanced weather technologies for agricultural and energy markets
to serve the needs of other weather-sensitive markets. With 15,000 subscribers,
it is widely regarded as a leading source of real-time weather information
services across energy, aviation, transportation, recreation, construction and
public safety markets. Telvent DTN plays a vital role in delivering proprietary
weather services enabling a wide range of organizations such as the Tennessee
Valley Electric Authority, GE Wind, the Iowa Department of Transportation, US
Airways, AirMethods, and the PGA Tour to manage weather-related risks.
Subscription retention rates approximate 87% in this segment.

Agriculture

All revenues in our Agriculture segment were generated in North America and
principally arise from the sale, through subscriptions, of critical agricultural
business information, weather and real-time market data solutions to top farm
producers and agribusinesses. We continue to maintain subscription retention
rates above 90% in our Agriculture segment, which exemplifies the resilience of
this business segment.

We have over 680,000 subscribers to our business information in our Agriculture
segment, including 56,000 of the largest farm producers who are paying for
premium content, 12,000 originators including the top elevators, ethanol plants
and feedlots, and over 1,000 agribusiness customers using our risk management
platform. Our largest customers include Bunge, FC Stone, John Deere, Con Agra
and Cargill along with the majority of the top corn and soybean producers in the
United States.

During the first half of 2009, over 40 million bushels of grain were transacted
though our grains trading portal -- DTN Marketspace -- between our over 900
agribusiness portal locations and our over 21,000 registered portal producers.
DTN Marketspace, an innovative online grain marketing solution that connects
buyers and sellers of local cash commodities, is rapidly expanding because it is
able to provide a private, secure and reliable online marketplace through which
agribusinesses and producers can make offers and place bids, manage their
positions and contracts, as well as track specific transactions and deliver
commitments that will enable an efficient management of their business. In
addition, agribusinesses benefit from DTN Marketspace, as it reduces costs and
improves margins, centralizing bids and offers, and improving customer service
by offering producers a 24-hour per day, 7-days a week storefront.

Global Services

Significant contracts signed in the second quarter of 2009, among others, were:

* Contract signed with the Ministry for Public Administrations
(MAP), in Spain, for complete outsourcing of the @signature
systems. The contract includes monitoring, administration,
management, operation and coordination services for all
operational environments.

* Contract with Vueling Airlines, in Spain, to renew and expand
management services involving technological infrastructures, 24x7
monitoring services, system and application administration
services. These services consist of expanding and integrating the
company's new hardware and software assets to augment operational
capability with a view to future integration of the Clickair
systems as a result of the recent merger process of both
companies.
Telvent acquired remaining 42% of Matchmind

In addition, in May 2009, we reached an agreement to purchase the remaining 42%
of Matchmind. Telvent originally acquired 58% of Matchmind in October 2007, and
retained the right to purchase the remaining 42% between 2009 and 2011. With
this new agreement, Telvent will complete the full integration two years ahead
of schedule. Matchmind is one of the leading companies, specializing in systems
integration, IT outsourcing, and consulting services in Spain, with a headcount
of more than 1,500 professionals, and an average revenue growth rate of 18% in
the last 3 years.

Use of Non-GAAP Financial Information

To supplement our consolidated financial statements presented in accordance with
U.S. GAAP, we use certain non-GAAP measures, including non-GAAP net income
attributable to the parent company and EPS. Non-GAAP net income attributable to
the parent company and EPS are adjusted from GAAP-based results to exclude
certain costs and expenses that we believe are not indicative of our core
operating results. Non-GAAP results are one of the primary indicators that our
management uses for evaluating historical results and for planning and
forecasting future periods. We believe that non-GAAP results provide consistency
in our financial reporting, which enhances our investors' understanding of our
current financial performance as well as our future prospects. Non-GAAP results
should be viewed in addition to, and not in lieu of, GAAP results.
Reconciliation of each Non-GAAP measure presented to the most directly
comparable GAAP measure is provided in this release immediately following the
unaudited consolidated financial statements.

The Company provides non-GAAP measures to give investors figures that are most
comparable to those used by Management in its evaluation of historical results
for planning and forecasting purposes. The adjustments represent the removal of
GAAP impacts that Management is not able to forecast (such as JVs and
mark-to-market of derivatives and hedged items), that generally have not
impacted the Company's cash position in the period (such as stock compensation
plan expenses and mark to market of derivatives and hedged items), or that
Management believes are extraordinary in nature and thus should be removed from
the GAAP results for comparative purposes. Below is an explanation of the nature
of each of these adjustments and how Management uses the resulting non-GAAP
measures in its management of the business:

-- Joint ventures: Telvent, during its normal course of business, and as is
customary practice in its industry, participates in joint venture agreements in
Spain to bid for and carry on some of its projects in the traffic, energy and
environmental segments. These relationships are commonly referred to as "Union
Temporal de Empresas" (UTEs). Such UTEs are established for commercial reasons,
at the request of the client, and because they are sometimes required when
bidding for government related work. A UTE (which is considered a "temporary
consortium" under Spanish law) is a form of business cooperation used within the
scope of public hiring, with no legal personality, that is established for a
certain period of time, definite or indefinite, to carry out work, service or
supply in Spain. The terms governing the functioning of a UTE are freely agreed
to by the participants provided they are set out in the Articles of Association
and conform to applicable law. UTEs are operated through a management committee,
comprised of equal representation from each of the venture partners, which makes
decisions about the joint venture's activities that have a significant effect on
its success. As a result of the adoption of FIN 46R, Consolidation of Variable
Interest Entities, in January 2004, these joint ventures were determined to be
variable interest entities, as they have no equity, and transfer restrictions in
the agreements establish a de facto agency relationship between all venture
partners. For this reason, and applying quantitative criteria to determine which
partner is the most closely associated with the joint venture, the Company
consolidates, on a quarterly basis, the results of such UTEs. However, the
Company believes it has no control over most of the joint ventures it
consolidates, and therefore is unable to control or predict the results of the
UTEs. The Company only has control over its portion of revenues and margins
associated with the work it is carrying out through the UTE. In addition, the
work carried out by other venture partners in the JV may sometimes be unrelated
to Telvent's business, and thus we do not consider that such revenues should be
included within Telvent's revenues. For these reasons, Management considers GAAP
revenues and cost of revenues, excluding the revenues and cost of revenues
attributable to other venture partners, and including revenues and cost of
revenues from UTEs that are carried under the equity method. The resulting
non-GAAP revenues, cost of revenues and gross margins are the closest indicators
to the measures Management uses in its management of the business.

-- Mark to market of derivatives and hedged items: The Company enters into
numerous forward exchange contracts to protect against fluctuations in foreign
currency exchange rates on long-term projects and anticipated future
transactions. In addition, the Company enters into interest rate caps in order
to manage interest rate risk on certain long-term variable rate financing
arrangements. These transactions have been designated as cash flow hedges and
are recorded at fair value in the Company's consolidated balance sheets, with
the effective portion of changes in fair value recorded temporarily in equity
(other comprehensive income). Such unrealized gains and losses are recognized in
earnings, along with the related effects of the hedged item, once the forecasted
transaction occurs (e.g. once foreign currency invoices are issued to clients or
received from suppliers). Accounts receivables and payables (the "hedged items")
denominated in foreign currencies are translated to the functional currency
using applicable quarter-end or year-end exchange rates, with variations
recorded in earnings for each period. Due to the volume of forward exchange
contracts and the number of currencies they cover, the Company does not estimate
the unrealized gains and losses arising from the accounting entries required by
SFAS 133 at each cut-off date. Rather, the Company estimates and manages
exchange rate risk on a project-by-project basis, overseeing and predicting the
real cash impact at the end of a project arising from such transactions (both
caused by the hedged item and the derivative). For this reason, Management uses
internally a non-GAAP measure which is equivalent to GAAP financial
income/expense, but which excludes the unrealized gains and losses from
recognizing derivatives at fair value and from recording hedged foreign currency
receivables and payables at period-end exchange rates.

-- Stock and extraordinary variable compensation plan expenses: The Company has
applied SFAS 123R to account for the share acquisition plan established by
Abengoa with respect to Abengoa's shares. This plan has been accounted for as an
equity award plan under SFAS 123R, and is being treated similar to a stock
option plan. A valuation of the plan was performed at the grant date and the
corresponding non-cash compensation expense is being recognized over the
requisite service period of five years and six months. In addition, the Company
has an extraordinary variable compensation plan for members of its senior
management team, to be paid in cash at the end of a five year period, based on
the accomplishment of certain objectives. The compensation only vests and
becomes payable after the end of the fifth year of the plan. Compensation
expense is recorded under GAAP for these two plans. The Company provides a
non-GAAP measure which excludes the impact of such plans, as it believes it is
useful information to investors because of the extraordinary nature of the plans
and the fact that no cash outlay is required from Telvent on the Abengoa stock
purchase plan.

-- Amortization of intangibles arising on acquisitions: The Company records
intangible assets during the purchase price allocation process performed on
acquisitions. These include customer contract (backlog) and relationships,
purchased software technology, trade names and in-process research and
development, among others. Such intangible assets are amortized, for GAAP
purposes, over their estimated useful lives. When evaluating an acquisition, the
Company does not consider the non-cash amortization expense arising from these
intangibles in its valuation. Therefore, the Company periodically excludes such
impact from its depreciation and amortization (D&A) line to arrive at non-GAAP
D&A, which it believes to be useful information for investors.

Conference Call Details

Manuel Sanchez, Chairman and Chief Executive Officer, and Barbara Zubiria, Chief
Accounting and Reporting Officer and Head of Investor Relations, will conduct a
conference call to discuss second quarter 2009 results, which will be
simultaneously webcast, at 9:00 A.M. Eastern Time / 3:00 P.M. Madrid Time on
Friday, August 28, 2009.

To access the conference call, participants in North America should dial (800)
374-0724 and international participants +1 (706) 634-1387. A live webcast of the
conference call will be available at the Investor Relations page of Telvent's
corporate website at www.telvent.com. Please visit the website at least 15
minutes prior to the start of the call to register for the teleconference
webcast and download any necessary audio software.

A replay of the call will be available approximately two hours after the
conference call is completed. To access the replay, participants in North
America should dial (800) 642-1687 and international participants should dial +1
(706) 645-9291. The passcode for the replay is 23803870.

About Telvent

Telvent (Nasdaq:TLVT) is a global IT solutions and business information services
provider that improves the efficiency, safety and security of the world's
premier organizations. The company serves markets critical to the sustainability
of the planet, including the energy, transportation, agriculture, and
environmental sectors. (www.telvent.com)

The Telvent GIT S.A. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3116

This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
often are proceeded by words such as "believes," "expects," "may,"
"anticipates," "plans," "intends," "assumes," "will" or similar expressions.
Forward-looking statements reflect management's current expectations, as of the
date of this press release, and involve certain risks and uncertainties.
Telvent's actual results could differ materially from those anticipated in these
forward-looking statements as a result of various factors. Some of the factors
that could cause future results to materially differ from the recent results or
those projected in forward-looking statements include the "Risk Factors"
described in Telvent's Annual Report on Form 20-F for the year ended December
31, 2008, filed with the Securities and Exchange Commission on March 18, 2009,
and updated, if applicable, by Telvent's Quarterly Reports on Form 6-K for the
quarter ended March 31, 2008, filed with the Securities and Exchange Commission
on May 21, 2009. Telvent does not intend, and does not assume any obligation, to
update or revise the forward-looking statements in this press release after the
date it is issued. In light of the risks and uncertainties described above, and
the potential for variation of actual results from the assumptions on which
certain of such forward-looking statements are based, investors should keep in
mind that the results, events or developments disclosed in any forward-looking
statement made in this press release may not occur, and that actual results may
vary materially from those described herein, including those described as
anticipated, expected, targeted, projected or otherwise.

Unaudited Consolidated Balance Sheets
(In thousands of Euros, except share and per share amounts)

As of As of
June 30, Dec. 31,
2009 2008
--------- ---------

Assets:
Current assets:
Cash and cash equivalents 72,456 67,723
Restricted cash 41,360 18,085
Other short-term investments 623 589
Derivative contracts 3,458 8,046
Accounts receivable (net of allowances of
EUR655 as of June 30, 2009 and EUR2,386
as of December 31, 2008) 108,729 152,951
Unbilled revenues 268,249 218,271
Due from related parties 16,307 18,322
Inventory 25,567 19,562
Other taxes receivable 13,350 18,565
Deferred tax assets 7,894 5,885
Other current assets 6,240 5,573
--------- ---------
Total current assets 564,233 533,572
Deposits and other investments 7,546 7,595
Investments carried under the equity method 6,859 6,596
Property, plant and equipment, net 74,092 73,861
Long-term receivables and other assets 10,741 8,586
Deferred tax assets 24,857 26,726
Other intangible assets, net 43,573 48,444
Goodwill 343,125 345,345
Derivative contracts long-term 869 498
--------- ---------
Total assets 1,075,895 1,051,223
========= =========
Liabilities and shareholders' equity:
Accounts payable 294,563 294,947
Billings in excess of costs and
estimated earnings 49,433 45,253
Accrued and other liabilities 33,988 16,927
Income and other taxes payable 12,687 27,770
Deferred tax liabilities 3,638 2,422
Due to related parties 50,166 29,105
Current portion of long-term debt 24,344 27,532
Short-term debt 70,151 56,728
Short-term leasing obligations 8,261 8,041
Derivative contracts 9,706 8,694
--------- ---------
Total current liabilities 556,937 517,419
Long-term debt less current portion 196,923 193,495
Long-term leasing obligations 16,185 18,599
Derivative contracts long-term 1,503 4,877
Other long term liabilities 41,001 37,745
Deferred tax liabilities 4,973 5,238
Unearned income 1,686 1,233
--------- ---------
Total liabilities 819,208 778,606
--------- ---------
Unaudited Consolidated Balance Sheets (continued)
(In thousands of Euros, except share and per share amounts)

As of As of
June 30, Dec. 31,
2009 2008
---------- ----------

Commitments and contingencies -- --

Redeemable non-controlling interest -- 20,020

Equity:

Non-controlling interest 297 97
Shareholders' equity:
Common stock, EUR3.00505 nominal par value,
34,094,159 shares authorized, issued and
outstanding, same class and series 102,455 102,455
Additional paid-in-capital 89,814 89,696
Accumulated other comprehensive income (23,688) (25,363)
Retained earnings 87,809 85,712
---------- ----------
Total shareholders' equity 256,390 252,500
---------- ----------
Total Equity 256,687 252,597
========== ==========
Total liabilities and shareholders' equity 1,075,895 1,051,223
========== ==========
Unaudited Consolidated Statements of Operations
(In thousands of Euros, except share and per share amounts)

Three Months Ended Six Months Ended
June 30, June 30,
----------------------- -----------------------
2009 2008 2009 2008
----------- ----------- ----------- -----------

Revenues 185,524 149,254 368,046 287,935
Cost of revenues 121,499 112,926 235,151 215,586
----------- ----------- ----------- -----------

Gross profit 64,025 36,328 132,895 72,349
----------- ----------- ----------- -----------
General and
administrative 30,737 14,821 59,607 29,153

Sales and marketing 5,625 6,967 13,497 12,037

Research and
development 3,731 4,585 8,560 9,092
Depreciation and
amortization 7,028 2,891 13,907 5,602
----------- ----------- ----------- -----------
Total operating
expenses 47,121 29,264 95,571 55,884
----------- ----------- ----------- -----------
Income from operations 16,904 7,064 37,324 16,465
Interest expense (9,343) (2,987) (16,579) (5,944)
Interest income 88 8 113 34
Other financial income
(expense), net 1,803 (808) (3,884) (423)
Income from companies
carried under equity
method 101 (114) 180 126
Other income
(expense), net (780) -- (780) --
----------- ----------- ----------- -----------
Total other income
(expense) (8,131) (3,901) (20,950) (6,207)
----------- ----------- ----------- -----------
Income before income
taxes 8,773 3,163 16,374 10,258
Income tax expense
(benefit) 609 334 1,802 1,274
----------- ----------- ----------- -----------
Net income 8,164 2,829 14,572 8,984
----------- ----------- ----------- -----------
Loss/(profit)
attributable non-
controlling interests 80 (325) (201) (576)
----------- ----------- ----------- -----------
Net income
attributable to the
parent company 8,244 2,504 14,371 8,408
=========== =========== =========== ===========

Earnings per share
Basic and diluted net
income per share
attributable to the
parent company 0.24 0.09 0.42 0.29
=========== =========== =========== ===========
Weighted average
number of shares
outstanding
Basic and diluted 34,094,159 29,247,100 34,094,159 29,247,100
=========== =========== =========== ===========
Unaudited Condensed Consolidated Statements of Cash Flows
(In thousands of Euros, except share and per share amounts)

Six Months Ended
June 30,
2009 2008
------- -------

Cash flows from operating activities:
Net income attributable to the parent company 14,371 8,408

Less (loss)/profit attributable to non-
controlling interest 201 576
------- -------
Net income 14,572 8,984
Adjustments to reconcile net income attributable
to the parent company to net cash provided by
operating activities: 21,688 6,409
Change in operating assets and liabilities, net
of amounts acquired (8,649) (92,947)
Change in operating assets and liabilities due to
temporary joint ventures (1,920) (2,623)
------- -------
Net cash provided by (used in) operating
activities 25,691 (80,177)
======= =======

Cash flows from investing activities:
Restricted cash - guaranteed deposit of long term
investments and commercial transactions (23,419) 8,590
Due from related parties 9,744 34,724
Acquisition of subsidiaries, net of cash (12,082) (738)
Purchase of property, plant & equipment (4,355) (2,861)
Investment in Intangible Assets (3,165) --
Disposal (Acquisition) of investments (1,000) (1,555)
------- -------
Net cash provided by (used in) investing
activities (34,277) 38,160
======= =======

Cash flows from financing activities:
Proceeds from long-term debt 10,521 595
Repayment of long-term debt (8,297) (2,703)
Proceeds from short-term debt 14,585 1,905
Repayment of short-term debt (5,432) (21,440)
Due to related parties 15,565 64,676
Dividend paid (12,274) (9,944)
Dividend paid to non controlling interest (1,283) --
Proceeds (repayments) of government loans (425) 99
------- -------
Net cash provided by (used in) financing
activities 12,960 33,188
======= =======
Net increase (decrease) in cash and cash
equivalents 4,734 (8,829)
Net effect of foreign exchange in cash and
cash equivalents 359 (1,184)
Cash and cash equivalents at the beginning
of period 60,792 68,409
Joint venture cash and cash equivalents at the
beginning of period 6,931 5,346
------- -------
Cash and cash equivalents at the end of period 72,456 63,742
======= =======

Segment Information
(In thousands of Euros, except share and per share amounts)

Three months ended Six months ended
June 30, June 30,
2009 2008 2009 2008
--------- --------- --------- ---------

Revenues
Energy 53,501 39,518 105,071 80,254
Transportation 50,944 59,457 102,196 106,702
Environment 14,680 9,448 29,709 17,896
Agriculture 19,505 -- 40,501 --
Global Services* 46,894 40,831 90,569 83,083
--------- --------- --------- ---------
185,524 149,254 368,046 287,935
--------- --------- --------- ---------

Gross Margin
Energy 34.9% 21.4% 35.5% 22.7%
Transportation 20.8 22.2 25.6 24.1
Environment 37.9 37.9 37.4 30.7
Agriculture 77.8 -- 77.9 --
Global Services* 29.9 27.2 29.6 27.6
--------- --------- --------- ---------
34.5% 24.3% 36.1% 25.1%
--------- --------- --------- ---------

* During the fourth quarter of 2008, we changed our business
segments. Our former segment, Public Administration, was combined
with our Global Services segment. In light of our recent
acquisition of DTN, we created a new Agriculture segment. All
prior period results appearing in the segment information table
included in this release have been restated to conform to our new
business segments.

Reconciliations between GAAP and Non-GAAP Measures
(In thousands of Euros, except margins, share and per share amounts)

Three months Six months
ended ended
June 30, June 30,
2009 2008 2009 2008
-------- -------- -------- --------

Reconciliation of Non-GAAP
Revenues:
--------------------------
Revenues 185,524 149,254 368,046 287,935
Joint Venture adjustment (238) (952) (4,964) (3,526)
-------- -------- -------- --------
Non-GAAP Revenues 185,286 148,302 363,082 284,409

Reconciliation of Non-GAAP
Gross Margin:
--------------------------
Gross Margin 34.5% 24.3% 36.1% 25.1%
Joint Venture adjustment
effect on margin -- 0.2 0.5 0.4
-------- -------- -------- --------
Non-GAAP Gross Margin 34.5 24.5 36.6 25.5

Reconciliation of Adjusted
EBITDA:
--------------------------
Net Income attributable to the
parent company 8,244 2,504 14,371 8,408
Loss/(profit) attributable
non-controlling interests (80) 325 201 576
Income tax expense (benefit) 609 334 1,802 1,274
Other income (expense), net 780 -- 780 --
Income from companies carried
under equity method (101) 114 (180) (126)
Other financial income
(expense), net (1,803) 808 3,884 423
Interest income (88) (8) (113) (34)
Interest expense 9,343 2,987 16,579 5,944
Depreciation and amortization 7,028 2,891 13,907 5,602
-------- -------- -------- --------
EBITDA 23,932 9,955 51,231 22,067
Adjustments
Stock compensation plan
expense adjustment 452 454 904 904
Joint Venture effect
adjustment (13) (59) (12) 62
-------- -------- -------- --------
Adjusted EBITDA 24,371 10,350 52,123 23,033

Reconciliation of Non-GAAP
Income from Operations:
--------------------------
Income from Operations 16,904 7,064 37,324 16,465
Joint Venture adjustment effect (13) (59) (12) 62
Stock compensation plan
expense adjustment 452 454 904 904
Amortization of Intangibles
adjustment 3,406 829 6,707 1,676
-------- -------- -------- --------
Non-GAAP Income from Operations 20,749 8,288 44,923 19,107

Reconciliation of Non-GAAP
Operating Margin:
--------------------------
Operating Margin 9.1% 4.7% 10.1% 5.7%
Joint Venture effect -- 0.2 0.5 0.4
Stock compensation plan
expenses effect on margin 0.3 0.2 -- 0.2
Amortization of Intangibles
effect on margin 1.8 0.5 1.8 0.4
-------- -------- -------- --------
Non-GAAP Operating Margin 11.2 5.6 12.4 6.7

Reconciliations between GAAP and Non-GAAP Measures (continued)
(In thousands of Euros, except margins, share and per share amounts)

Three months Six months
ended ended
June 30, June 30,
2009 2008 2009 2008
------- ------- ------- -------

Reconciliation of Non-GAAP Net income
attributable to the parent company:
-------------------------------------
GAAP Net income attributable
to the parent company 8,244 2,504 14,371 8,408
Joint Venture effect 34 17 23 (19)
Stock compensation plan expenses 452 454 904 904
Amortization of Intangibles 3,406 829 6,707 1,676
Mark to market of derivatives (1,681) 1,167 804 1,676
Fiscal effect of previous
adjustments (540) (392) (2,324) (874)
------- ------- ------- -------
Non-GAAP Net income attributable to
the parent company 9,915 4,579 20,485 11,771

Reconciliation of Non-GAAP Earnings
per Share:
-----------------------------------
GAAP Earnings per share 0.24 0.09 0.42 0.29
Joint Venture effect on EPS -- -- -- --
Stock compensation plan expenses
effect on EPS 0.01 0.01 0.03 0.03
Amortization of Intangibles effect
on EPS 0.10 0.03 0.20 0.06
Mark to market of derivatives
effect on EPS (0.05) 0.04 0.02 0.05
Fiscal effect of previous
adjustments effect on EPS (0.01) (0.01) (0.07) (0.03)
------- ------- ------- -------
Non-GAAP Earnings per share 0.29 0.16 0.60 0.40
-0-
CONTACT: Telvent GIT, S.A.
Investor Relations Contact
Barbara Zubiria
+34 902 335599
ir@telvent.com
Lucia Domville
+1 646 284 9416
lucia.domville@us.grayling.com
Communications Department Contact
Patricia Malo de Molina
+34 954 93 71 11
comunicacion@telvent.com