Annual Report 2010 - CMVM

Management Report of the Board of Directors 2010In the beginning of 2010, the "Maxilectro" shop was inaugurated in MaxiPark in Luanda Sul, dedicated to the marketing of consumerelectronics. Based on the assumptions of quality offer, service level, product diversity, competitive prices and staff specialised in technology,this insignia represents yet another front in the distribution sector.IV.7 ENERGYThe Teixeira Duarte Group began to operate in this sector in Portugal in 1996, with its current operations in the national market being throughTDARCOL – SGPS, S.A. in the areas of Liquid Fuel and Lubricants, Gas and Solar Energy, and in Brazil through the subsidiary ALVORADAPETRÓLEO S/A, involved in the extraction and marketing of oil.In fuel, Teixeira Duarte operates, directly or through concessions, 60 fuel stations, under the brand AVIA.In Gas, the Group operates under the brand DIGAL and has 500 reservoirs for local supplies and a distribution network of piped gas of over350Km, supply about 65,000 housing units, in addition to a structure for the filling and distribution of bottled gas, and has the exclusivenational representation of the brand Campingaz.In the area of solar thermal energy, the companies of the Group represent, in Portugal, the international brands SOLAHART and SONNENKRAFT,where its subsidiaries are market leaders.in Brazil, Teixeira Duarte indirectly owns 76% of EMPA,S/A – Serviços de Engenharia, which, in turn, owns 47.2% of the share capital of thecompany ALVORADA PETRÓLEO S/A, based in Belo Horizonte.ALVORADA, S/A holds the concession of three mature fields, located in Aracaju, in the State of Sergipe, Bom Lugar, in Reconcâvo Baianoand Jiribatuba, on the island of Itaparica in front of the city of Salvador, as well as eleven blocks also situated in Reconcâvo Baiano andwhich were the object of the Concession Contract of the 9th Round of Bids promoted by ANP – Agência Nacional do Petróleo, Gás Natural eBiocombustíveis (ANP).- OVERVIEW OF THIS SECTOR DURING 2010:148,574102,172 127,821Consolidated Turnover in the Energy sector was EUR 127,821thousand, corresponding to an increase of 25.1%, which, whilesignificant, did not allow reaching the levels recorded in 2008.Evolution ofEnergy Turnover(Values in thousand Euros)2008 2009 201049