5. - Secil

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KEY GLOBAL OPERATIONAL INDICATORS KEY CONSOLIDATOR BUSINESS INDICATORS (1) 1. Overview 2006 2007 2008 VARIATION Cement Production Capacity 1000t 5 631 6 850 6 850 0% Sales Grey cement 1000t 4 599 5 714 5 801 + 2% White cement 1000t 90 100 100 0% Artificial lime 1000t 75 63 61 - 3% Clinker 1000t 350 434 586 + 35% Ready-Mix Concrete 1000m 3 2 352 2 476 2 350 - 5% Aggregates 1000t 3 147 3 845 3 578 - 7% Pre-cast 1000t 144 162 145 - 10% Mortars 1000t 332 397 436 + 10% Hydraulic lime 1000t 37 34 32 - 7 % Mortar fixative 1000t 8 7 6 - 11% Employees Number of employees 2 138 2 769 2 674 - 3% Accident frequency index - 3,23 2,38 - 26% Accident frequency ratio - 76,13 71,96 - 5% 2006 2007 2008 VARIATION Turnover M€ 468 564 599 + 6% EBITDA M€ 129 143 157 + 10% EBIT M€ 79 84 99 + 19% Net financing costs M€ - 3 - 9 - 8 - 3% Pre-tax profits M€ 76 75 91 + 21% Net profits M€ 58 50 63 + 25% Total assets M€ 765 830 860 + 4% Shareholders’ funds M€ 359 362 393 + 9% Net debt M€ 137 150 124 - 18% EBITDA margin 27% 25% 26% EBIT margin 17% 15% 17% CAPEX M€ 34 41 42 0% Net debt / EBITDA 1,1 1,0 0,8 - 17% (1) As started in note 1 to the Consolidation Financial Statements, the presentation of financial information has been reestructured since 2007, in anticipation of the gradual implementation of the New Standard Accounting System
MARCH ■ Secil participates in the 2nd National Precast Concrete Conference, held at LNEC – Laboratório Nacional de Engenharia Civil. ■ Initiation of seminars organized by CTEC – Centro Técnico Corporativo on the subject of “Alternative Fuels”. ■ Commencement of the “Campus Secil” management and leadership training programme, aimed at management staff from throughout the Group in Portugal. ■ The Outão plant successfully registers with EMAS – Eco Management Audit Scheme. APRIL ■ The 2007 Secil Engineering Award is awarded to Engº José António da Mota Freitas, responsible for the project of the design for the Holy Trinity Church in Fátima. MAY ■ The European Day for the cement industry coincide with the 85th anniversary of the Maceira-Liz plant and the start of the “Open Doors Week”. ■ Start of the New Talent Recruitment Programme, with the announcement at the JobShop fair, at the Instituto Superior Técnico, in Lisbon. ■ Secil takes part in Tektónica/Simac 2008, the international civil construction and public works fair held in Lisbon. ■ International Biodiversity Day at the Outão, Maceira-Liz and Cibra- Pataias plants. 2. Major Developments in the year JUNE ■ “Open Doors Week” at the Outão plant, devoted to the theme “Energy and the Environment in Arrábida”, which attracted around 600 visitors. ■ Secil Unicon acquires the entire share capital of Secil Prebetão. ■ Secil acquires, through Ciminpart a 50% stake in Teporset, located in Setúbal. JULY ■ For a sixth year running, Secil signs cooperation agreements with cultural, sporting and welfare organizations in Setúbal. SEPTEMBER ■ The Outão plant organizes the second Ecoquarry project, with a view to landscape rehabilitation of quarries with Mediterranean characteristics, in collaboration with the Environmental Biology Centre of the Faculty of Science, University of Lisbon. OCTOBER ■ Group management meeting, in Torres Vedras, for preparation of the 2009-2013 Medium Term Business Plan. Maceira-Liz Plant 16 | 17 ANNUAL REPORT SECIL 2008 ■ “Process and Quality” seminar, designed to promote communication between the different Group companies, disseminate technologies and provide information on best practice at each of the plants. NOVEMBER ■ Initiation of the “Trainees Secil” Programme, aimed at high-potential graduates, with a view to future integration into the group. DECEMBER ■ Merger of Rubetão into Secil Prebetão, resulting in Secil Unicon holding 79.6% of the merged company. ■ Secil-Britas acquires Colegra and a number of quarries located close to the existing quarries in Joane and Famalicão. ■ Secil-Britas achieves quality certification status.
Page 1 and 2: ANNUAL REPORT 2OO8
Page 3 and 4: Annual Report 2008 2 | 3 ANNUAL REP
Page 5 and 6: Statutory Boards 6 Message from the
Page 7 and 8: General Meeting Board President Hen
Page 9 and 10: To achieve these economic and finan
Page 11 and 12: Leixões-Mar Depot Directors’ Rep
Page 13 and 14: os, broken down into 42 million in
Page 15: As a fundamental aspect of its sust
Page 19 and 20: (1) Estimates The business environm
Page 21 and 22: 3.2.3. HUMAN RESOURCES Efforts cont
Page 23 and 24: AGGREGATES Major developments inclu
Page 25 and 26: 3.6. MADEIRA The construction secto
Page 27 and 28: 4. TUNISIA 4.1. MACROECONOMIC BACKG
Page 29 and 30: FINANCIAL INDICATORS 4.2.6. PROSPEC
Page 31 and 32: Cement output stood at 989 000 tons
Page 33 and 34: CEMENT Performance was significantl
Page 35 and 36: 7.3. AGGREGATES The aggregates mark
Page 37 and 38: 10.1. MANAGEMENT OF FINANCIAL RESOU
Page 39 and 40: PROPOSAL FOR APPROPRIATION OF PROFI
Page 41 and 42: Landscape recovery in Secil-Outão
Page 43 and 44: 2. Consolidated Balance Sheet CONSO
Page 45 and 46: 44 | 45 ANNUAL REPORT SECIL 2008 Tr
Page 47 and 48: Holy Trinity Church-Fátima 46 | 47
Page 49 and 50: INDEX TO THE NOTES TO THE CONSOLIDA
Page 51 and 52: full consolidation of this previous
Page 53 and 54: Management determines the classific
Page 55 and 56: 1.18. INTEREST-BEARING LIABILITIES
Page 57 and 58: and services in the ordinary course
Page 59 and 60: tions undertaken by the tax authori
Page 61 and 62: 60 | 61 ANNUAL REPORT SECIL 2008 Co
Page 63 and 64: 62 | 63 ANNUAL REPORT SECIL 2008 Co
Page 65 and 66: 6. REMUNERATION OF MEMBERS OF STATU
Page 67 and 68:
10. NET FINANCE COSTS As of 31 Dece
Page 69 and 70:
12. MINORITY INTERESTS As of 31 Dec
Page 71 and 72:
15. GOODWILL During the years ended
Page 73 and 74:
16. OTHER INTANGIBLE ASSETS The amo
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74 | 75 ANNUAL REPORT SECIL 2008 Bu
Page 77 and 78:
The amount of Euros 2,513,131 of fa
Page 79 and 80:
As of 31 December 2008 and 2007, ot
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Almada Administrative and Tax Court
Page 83 and 84:
As deliberated at the General Meeti
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84 | 85 ANNUAL REPORT SECIL 2008 Ex
Page 87 and 88:
Unrecognised deferred taxes on tax
Page 89 and 90:
88 | 89 ANNUAL REPORT SECIL 2008 Re
Page 91 and 92:
Liabilities for long-term service c
Page 93 and 94:
31/12/08 31/12/07 Autonomous Insura
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94 | 95 ANNUAL REPORT SECIL 2008 31
Page 97 and 98:
Secil Betões e Inertes, S.A., a Gr
Page 99 and 100:
31. OTHER NON-CURRENT LIABILITIES A
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GRANTS - CO 2 EMISSION ALLOWANCES:
Page 103 and 104:
As of 31 December 2008, payables to
Page 105 and 106:
36. ENVIRONMENTAL RELATED EXPENDITU
Page 107 and 108:
40. OTHER COMMITMENTS OF THE GROUP
Page 109 and 110:
43. COMPANIES INCLUDED IN CONSOLIDA
Page 111 and 112:
46.1. CONSOLIDATED BALANCE SHEET AT
Page 113 and 114:
46.2 CONSOLIDATED INCOME STATEMENT
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conditions included in point nº 1
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Common Name: Rue Scientific Name: R
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13% Tunisia 12% Lebanon 10% Angola
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Following are the main economic and
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4. ENVIRONMENTAL PERFORMANCE Cement
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4.1.3 ENERGY EFFICIENCY Similarly t
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75,6% 2006 2007 2008 al rate of inc
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2006 2007 2008 al rate of incorpora
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2007 2008 2004 2005 2006 2007 2008
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Further to this, in the region neig
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Common Name: Butterfly Scientific N
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2.REPORT OF STATUTORY AUDITORS (Fre
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TREASURY STOCK (7,90%) SECIL INTERN
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Common Name: Pimpernel Scientific N
Page 143 and 144:
Edition SECIL - COMPANHIA GERAL DE
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