Annual Report 2010 - CMVM

Notes to the Consolidated Financial Statements as at 31 December 20106 - EXCHANGE RATESThe following exchange rates were used to convert the assets and liabilities expressed in foreign currency into Euros as at 31 December 2010 and 2009, as well as the resultsof the operations developed in countries where the functional currency is different from the Euro, for the year ended on 31 December 2010:Closing rateAverage rateCurrency 2010 2009 Var 2010US Dollar 1.3362 1.4406 (0.1044) 1.3299Macaense Pataca 10.6972 11.5060 (0.8088) 10.6410Mozambican Metical 43.6500 44.1500 (0.5000) 45.3431Venezuelan Bolivar 5.7385 3.0934 2.6451 5.4735Angolan Kwanza 121.8310 128.5360 (6.7050) 121.8132Algerian Dinar 99.2829 103.5086 (4.2257) 98.0720Moroccan Dirham 11.2213 11.3480 (0.1267) 11.1624Brazilian Real 2.2177 2.5113 (0.2936) 2.3379Ukrainian Hryvnia 10.6462 11.5968 (0.9506) 10.5987Namibian Dollar 8.8625 10.6660 (1.8035) 9.7353Cape Verdean Escudo 110.2650 n/a - 110.2650Russian Rouble 40.8200 43.1540 (2.3340) 40.4473Tunisian Dinar 1.9284 1.9009 0.0275 1.89957 – INFORMATION BY OPERATING SEGMENTSThe main activities developed by the Group are classified into the following operating segments:• Construction;• Cement, concrete and aggregates;• Concessions and services;• Real estate;• Hotel services;• Distribution;• Energy;• Automobile.The sales and services rendered and the profit or loss of each of the abovementioned operating segments for the year ended on 31 December 2010, were as follows:Sales and services rendered20102010 2009SegmentCustomersInter -Operating OperatingTotalexternal segmentalprofit or loss profit or lossConstruction 760,475 126,563 887,038 25,124 -Cement, concrete and aggregates 13,176 29,931 43,107 (11,382) -Concessions and services 55,934 15,411 71,345 6,634 -Real estate 118,754 13,627 132,381 60,316 -Hotel services 78,943 10,044 88,987 16,153 -Distribution 115,741 6,514 122,255 4,902 -Energy 127,821 2,422 130,243 5,604 -Automobile 108,784 17,005 125,789 (4,156) -Not allocated to segments - - - (17,749) (12)Eliminations - (221,517) (221,517) (1,568) -1,379,628 - 1,379,628 83,878 (12)Financial costs and losses (156,704) -Financial income and gains 118,892 -Earnings from investment activities 20,132 -Pre-tax profit 66,198 (12)Inter-segment transactions are carried out at market prices.169