Annual Report 2010 - AdP

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Income Statement Notes 2010 2009 Supply of services 23 9,412,493 8,062,266 Turnover 9,412,493 8,062,266 External supplies and services 24 (6,392,949) (7,592,901) Staff costs 25 (4,461,916) (6,573,797) Amortization of the year 26 (16,981) (20,029) Provisions of the year 18 - (5,365,582) Other operational costs 27 (386,455) (530,964) Other operational income and gains 28 2,104,835 3,263,146 Operational income 259,027 (8,757,861) Financial costs 29 (26,169,035) (25,594,657) Financial income 30 53,479,198 80,936,049 Current income 27,569,190 46,583,531 Income before taxes 27,569,190 46,583,531 Income tax of the year 15 (225,638) (318,909) Net income of the year 27,343,552 46,264,622 Earnings per share (basic and diluted) 17 0.31 0.53 Comprehensive income statement Lisbon, 15 March 2011 Unit: euros Notes 2010 2009 Net income of the year 27,343,552 46,264,622 Foreign exchange differences - 2,305,998 Comprehensive income 27,343,552 48,570,620 The Board of Directors Pedro Eduardo Passos da Cunha Serra (Chairman) António Manuel da Silva Branco (Member) João Manuel Lopes Fidalgo (Member) José Maria Martins Soares (Member) Justino Manuel Matias Carlos (Member) Joaquim José de Oliveira Reis (Non-Executive Member) José Fernando Maia de Araújo e Silva (Non-Executive Member) The Statutory Accountant Carla Isabel Costa Pinto Ribeiro
Changes in total equity statement Lisbon, 15 March 2011 Unit : euros Shareholder Ajust. Legal Free Retained Net Total Equity Capit. Hold. Reserves Reserves Earnings Income Balances at 31 December 2008 - OPA 434,500,000 44,163,779 4,718,934 - (48,817,514) 62,975,614 497,540,813 IFRS Adjustments : - - - - - - - Fair value of derivatives - - - - (13,163,823) - (13,163,823) Foreign exchange update - - - - (7,142,860) - (7,142,860) Cancellation of provisions - - - - 1,073,975 - 1,073,975 Reclassification of capital holdings adjustments - - - - - - - Balances at 31 December 2008 - IFRS 434,500,000 44,163,779 4,718,934 - (68,050,222) 62,975,614 478,308,105 Foreign exchange effect (affiliates) - 2,305,999 - - - - 2,305,999 Creation of revaluation reserves (affiliates) - (16,535,106) - - 16,535,106 - - Distribution of income of 2008 - - 3,148,781 - 59,826,833 (62,975,614) - Dividend distribution - - - - (11,000,000) - (11,000,000) Net income of 2009 - - - - - 46,264,622 46,264,622 Balances at 31 December 2009 434,500,000 29,934,672 7,867,715 - (2,688,283) 46,264,622 515,878,725 Offsetting of foreign exchange differences - (1,500,262) - - 1,500,262 - - Other adjustments - - - - - - - Creation of revaluation reserves (affiliates) - (795,518) - - 795,518 - - Distribution of income of 2009 - - 2,295,568 19,000,764 24,968,291 (46,264,622) - Dividend distribution - - - - (24,615,034) - (24,615,034) Net income of 2010 - - - - - 27,343,552 27,343,552 Balances at 31 December 2010 434,500,000 27,638,892 10,163,283 19,000,764 (39,246) 27,343,552 518,607,244 The Board of Directors Pedro Eduardo Passos da Cunha Serra (Chairman) António Manuel da Silva Branco (Member) João Manuel Lopes Fidalgo (Member) José Maria Martins Soares (Member) Justino Manuel Matias Carlos (Member) Joaquim José de Oliveira Reis (Non-Executive Member) José Fernando Maia de Araújo e Silva (Non-Executive Member) The Statutory Accountant Carla Isabel Costa Pinto Ribeiro AdP Group_Annual Report 2010_122|123
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Annual Report 2010 AdP Group_Annual
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Table of Contents Chairman’s Mess
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the implementation of concession co
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AdP Group_Annual Report 2010_8|9
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Economic and financial indicators 2
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238.3 Volume of Wastewater treated
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the sector regulator and the Minist
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A - Corporate Governance
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A - Corporate Governance 1. Mission
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in certain regions of the country,
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with the Ministry of Environment an
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3. Information on Relevant Transact
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Executive Board Under the terms of
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Executive Board Chairman Pedro Edua
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- Full member the European Banking
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- In October 2002, he was appointed
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- 1992-1993 - Director and Financia
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Member - Pedro António Martins Men
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• EPAL EPAL operates in the whole
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II. Remuneration and Other Costs (A
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The report highlights the strategy
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The average age within the group is
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Regarding staff costs, there was a
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“Boosting national participation
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- considering the objective establi
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• Treat employees with respect an
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8. Code of Ethical Conduct Remunera
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The evaluation of risk is carried o
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Information included on the Company
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There is an important volume of lon
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[ blank page ] AdP Group_Annual Rep
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AdP Group_Annual Report 2010_66|67
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The stabilisation of financial mark
Page 72 and 73: The approval of the Stability and G
Page 74 and 75: In 2010, the objectives to be achie
Page 76 and 77: The weighting of the fixed rate com
Page 78 and 79: Financial Risk Management - Complie
Page 80 and 81: 6. Value Chain The AdP group operat
Page 82 and 83: average, the budget cycle of a mult
Page 84 and 85: We would also refer to how responsi
Page 86 and 87: As regards the population effective
Page 88 and 89: amount of grants conceded by the Eu
Page 90 and 91: A significant percentage of the app
Page 92 and 93: • In July 2010, AgdA- Águas Púb
Page 94 and 95: EPAL - Empresa Portuguesa das Água
Page 96 and 97: Of the investment carried out in 20
Page 98 and 99: 8.2. Waste Empresa Geral do Fomento
Page 100 and 101: Waste Treated The eleven EGF group
Page 102 and 103: 8.3. Energy and Other Businesses Th
Page 104 and 105: As regards feasible locations, the
Page 106 and 107: Key Events Brazil There was continu
Page 108 and 109: Key activities and events The year
Page 110 and 111: • design and production of integr
Page 112 and 113: 10. Future Perspectives The present
Page 114 and 115: 12. Proposed Appropriation of Profi
Page 116 and 117: C - Financial Statements for 2010
Page 119 and 120: Separate Financial Statements for t
Page 121: Financial Position Statement Lisbon
Page 125 and 126: Notes to the financial statements 1
Page 127 and 128: (b) recognition and subsequent meas
Page 129 and 130: The following are subsidiary compan
Page 131 and 132: Land is not depreciated. Depreciati
Page 133 and 134: Gains and losses resulting from a c
Page 135 and 136: isks of the asset in question. The
Page 137 and 138: 3 Financial risk management policy
Page 139 and 140: 4.1 Provisions and adjustments AdP
Page 141 and 142: ) Extraordinary income Extraordinar
Page 143 and 144: Gross Assets 31.12.2008 Additions S
Page 145 and 146: 10.1 Changes during the period 31.1
Page 147 and 148: iv) In 2009, Other debtors essentia
Page 149 and 150: At 31 December 2010, capital was fu
Page 151 and 152: The Group uses derivatives with the
Page 153 and 154: 25. Staff costs 31.12.2010 31.12.20
Page 155 and 156: i) The table below lists the main g
Page 157 and 158: 2009 Domestic banks Foreign banks T
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Page 162 and 163: 9. The Audit Committee wishes to po
Page 164 and 165: Opinion 7. In our opinion, the abov
Page 166 and 167: 5. We believe that the audit we per
Page 169 and 170: Consolidated Financial Statements f
Page 171 and 172: 44. Other operational income and ga
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Consolidated income statement by na
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Consolidated statement of changes i
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Notes to the consolidated financial
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Vision and objectives for the 2008-
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- In terms of classification and me
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Below, a breakdown of the companies
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II - Unregulated activities a. EPAL
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If the difference is negative (tari
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2.7 Tangible fixed assets Tangible
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This category includes derivatives
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Financial assets available for sale
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The costs of past services are imme
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information on the conditions that
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The goal of capital risk management
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31.12.2009 Net income OPA 45,911,36
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7. Derivatives 7.1 Classification o
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- Águas do Centro (Contracts for c
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“Basic equipment” essentially i
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12. Financial investments in associ
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14. Derivatives 31.12.2010 31.12.20
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ii) As a result of changes to the v
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Debts per municipality in excess of
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Significant amounts were received f
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26. Provisions 31.12.2010 31.12.200
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27.1.5 Cost for the period 31 Decem
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Fixed interest rate 31.12.2010 31.1
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ii) The pig farming subsidy that wa
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36. Sales and supply of services pe
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40. Amortizations, provisions and r
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45. Financial costs 31.12.2010 31.1
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50. Contractual investment The esti
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Águas de Santo André, S.A. Instit
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Case no. CO/15/2010 - pertaining to
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Lisbon, 15 March 2011 António Manu
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9. The Audit Committee wishes to po
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5. Our audit also included a verifi
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- verifying consolidation transacti
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Photograph Captions Cover and Back
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Annual Report 2010 - AdP

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