Annual Report 2010 - CMVM

Management Report of the Board of Directors 2010GSC - Go-Fit Gym MaintenanceContract - CórdobaSpainGSC - Urban Solid Waste Collectionof Mancomunidad de Concellos doMorrazo - SpainIn spite of the unfavourable economic environment experienced in 2010, TDGI showed a very positive performance, with its operating incomehaving reached EUR 17,398 thousand, corresponding to an increase of 50%, which is even more impressive considering that the previous yearthis subsidiary had already increased its value by 22%.Particular note should also be made of the excellent performance of the provision of services under the contract relative to Cascais Hospital,for which the group of entities involved have been distinguished and has also deserved their recognition by the users of this infrastructure.TDGI - Tecnologia de Gestão de Imóveis, Lda (Angola) is a company 100% owned by the Teixeira Duarte Group and, just like TDGI inPortugal, is dedicated to the management and technical maintenance of buildings and undertakings.In spite of the complexity and strong competitiveness of the market in Angola, TDGI’s knowledge of this market and its increasing implantationhas enabled reaching an operating income of EUR 9,711 thousand, corresponding to an increase of 36% of this indicator.TDGI - Tecnologia e Gestão de Imóveis, Lda. (Mozambique) is 100% controlled by the Teixeira Duarte Group and is a replica in thiscountry of similar companies referred to above in Portugal and Angola, which recorded an operating income of EUR 575 thousand in 2010,reflecting a decrease of 19% in relation to 2009.This company continues to carry out the maintenance of the "Polana Shopping Centre" in the city of Maputo and has collaborated with severalother entities, in particular, outside of the Group, Companhia Vale Rio Doce Moçambique.GSC - Compañia General de Servicios y Construcciones, S.A. is a company based in Madrid, 100% owned by Teixeira Duarte andwhich provides services in Portugal and Spain related to the Environment, namely in the market of waste, street cleaning, gardens, beachcleaning, coastal rescue and relief, as well as various activities in the context of Management and Maintenance of Buildings and Urban Spaces.35