UPDATE 2-Abertis says 2009 growth to match 9-month pace

* Sees flat or better EBITDA/revenue growth in 2009

* Telecoms business shows sharp growth in revenues

* Falling traffic flows stabilise

* Traffic seen improving in 2010

* Shares up 0.68 pct

(Adds conference call, analyst comments)

By Tracy Rucinski

MADRID, Nov 5 (Reuters) - Spanish infrastructure and toll road operator Abertis (ABE.MC) beat forecasts with a 7 percent growth in nine-month profit said full-year earnings growth would at least match that pace of growth.

The motorway operator said its 2009 core earnings growth should be no less than the 7 percent increase it has had in the first nine months of the year, while revenues should rise at least 5.8 percent.

"This is bottom-floor guidance," Chief Financial Officer Jose Alfaro said in a webcast on the results. "There's no reason to think the fourth quarter will be worse than the third."

Shares in Abertis were up 1.32 percent to 14.955 euros by 1417 GMT, while Spain's blue-chip share index was flat .IBEX.

"Results are positive and show a general improvement in the company's business," an analyst in Spain said.

Abertis said diversification into telecommunications and away from its core traffic business, which has been hit by recession, and the consolidation of new toll roads boosted its nine-month growth.

Revenue grew 23 percent at the group's telecommunications business, while the flow of traffic at its motorways and airports continued to fall.

"Although Abertis' motorways continue to show negative growth of 3.8 percent (year-on-year), this is an improvement on traffic flows in the first half," the company said.

Management predicted that the traffic would continue to improve next year.

"In 2010, we expect slightly positive traffic growth at the group level, with an improvement in Spain and positive traffic growth in France and South America," Alfaro said. Last week, domestic peer Cintra CCIT.MC also said the pace of decline on its toll roads in Spain had slowed but that traffic would not start growing again until the second half of 2010. [ID:nLS668045]

The outlook was brighter for Abertis' 15 percent-controlled Portuguese peer Brisa (BRI.LS), which said it may surpass its 2009 targets on traffic volumes after posting a forecast-beating rise in nine-month net profit. [ID:nLT419033]

French rival Eiffage (FOUG.PA) is due to report its third quarter results on Friday after the close.

Abertis' earnings before interest, taxes, depreciation and amortisation (EBITDA) reached 1.89 billion euros ($2.79 billion) in September, just ahead of analysts' forecasts for 1.83 billion euros.

Net profit rose 4 percent to 563 million euros, also beating forecasts. ($1=.6782 Euro) (Reporting by Tracy Rucinski and Jonathan Gleave; editing by Will Waterman and Karen Foster)