Abengoa, S.A. Should capital be increased in mid-2015? (Portuguese version)

In mid-2015, Abengoa, S.A. was highly indebted, in the opinion of both management and external analysts. A plan was launched to limit new investments and sett assets that were not performing. The level of debt was the result of a change in strategy with regards to the previous decade, from being an engineering services company to investing in infrastructure projects. Abengoa continued to do engineering, but mostly, at the time of writing, for their own infrastructure projects. Profitability was poor, and infrastructure investment in particular was not making money. The case focuses on an analyst of the results of the first half of 2015, debating whether to advise a capital increase. It also delves into other aspects of the problem, such as corporate governance, the company?s relationship with capital