Annual Report 2010 - CMVM

Management Report of the Board of Directors 2010Automobile CentreLuanda - AngolaOutside viewAutomobile CentreLuanda - AngolaWorkshop viewIn non-consolidated terms and in order to provide an overall view of the total activity during 2010, we disclose that the operating income inthe Automobile sector reached the total value of EUR 182,748 thousand, reflecting a reduction of 16.2% in relation to 2009.In the automobile segment, the two brands represented by the Group which achieved the highest turnover were Nissan, through theperformance of the Hardbody and Navara models, and Chevrolet, with the Spark and Captiva models.During this year, the implementation of a rigorous stock reduction policy continued, which enabled reaching the end of 2010 with values moresuited to the current level of the operation.During 2010, the Group initiated the marketing of the models of the automobile brand Mahindra, of Italian origin, which are characterised bytheir simplicity and mechanical robustness, offering the markets products with an excellent quality/price relationship.Also noteworthy in 2010 was the strengthening of the means dedicated to the sale and after-sales service of generators, providing teams withimproved technical capacity and response speed.Under the objective of expanding the marketing and after-sales service of the represented brands, plans have been made for the opening of afurther two units with showrooms, workshops and spare parts in the metropolitan region of Luanda.53