Annual Report 2010 - AdP

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9.2 Individual value of the holdings 31.12.2010 31.12.2009 EPAL, S.A. 366,116,761 366,116,761 EGF, S.A. 60,651,531 60,651,530 Águas de Trás-os-Montes e Alto Douro, S.A. 28,284,126 28,284,126 Águas do Centro, S.A. 26,360,773 26,360,773 Águas do Algarve, S.A. 25,834,640 25,834,640 Simtejo, S.A. 24,636,148 24,636,148 Águas do Minho e Lima, S.A. (a) - 20,796,047 Simria, S.A. 19,058,555 18,909,376 Águas do Oeste, S.A. 18,772,261 18,772,261 Simarsul, S.A. 16,792,440 16,792,440 Águas do Zêzere e Côa, S.A. 29,451,416 16,451,416 Águas do Cávado, S.A. (a) - 13,661,963 Águas do Mondego, S.A. 11,170,388 11,170,388 Águas do Douro e Paiva, S.A. 10,891,901 10,891,901 Águas do Ave, S.A. (a) - 10,368,265 AdRA - Águas da Região de Aveiro, S.A. 7,650,000 6,375,000 Águas do Norte Alentejano, S.A. 6,062,066 6,062,066 Sanest, S.A. 5,915,483 5,915,483 Simlis, S.A. 5,877,947 5,877,947 AdP Energias, S.A. 4,733,226 4,733,226 Águas do Centro Alentejo, S.A. 3,180,419 3,180,419 AdP Internacional, S.A. 4,349,381 3,107,745 Águas de Santo André, S.A. 2,298,412 1,798,412 AdP Serviços, S.A. 587,465 587,465 AgdA - Águas Públicas do Alentejo, S.A. 255,000 255,000 Aquasis, S.A. 100 100 Simdouro, S.A. 3,519,000 - Águas do Noroeste, S.A. (b) 48,268,775 - Affiliates 730,718,213 707,590,897 Trevo Oeste, S.A. 572,991 572,991 Associate companies 572,991 572,991 731,291,204 708,163,888 (a) - Companies that merged in 2010, resulting in Águas do Noroeste, S.A. (b) 10. Loans to group companies 31.12.2010 31.12.2009 Simtejo, S.A. 30,000,000 30,000,000 Águas do Zêzere e Côa, S.A. 20,000,000 29,812,530 Águas do Cávado, S.A. 20,000,000 20,000,000 Águas do Minho e Lima, S.A. 10,000,000 25,000,000 Águas de Trás-os-Montes e Alto Douro, S.A. 40,000,000 40,000,000 Águas do Ave, S.A. - 35,000,000 Águas do Algarve, S.A. 50,000,000 - Simria, S.A. 25,000,000 - Empresa Geral do Fomento, S.A. 8,500,000 - AdRA - Águas da Região de Aveiro, S.A. 21,000,000 - Águas do Brasil, S.A. 51,800 8,800 224,551,800 179,821,330
10.1 Changes during the period 31.12.2010 31.12.2009 Initial balance 179,821,330 35,342,890 Additional capital paid in (Águas do Cávado) - 20,000,000 Additional capital paid in (Águas do Minho e Lima) (15,000,000) 25,000,000 Additional capital paid in (Águas do Zêzere e Côa) - 29,812,530 Reimbursement (Águas do Zêzere e Côa) (9,812,530) (5,342,890) Additional capital paid in (Águas de Trás-os-Montes e Alto Douro) - 40,000,000 Additional capital paid in (Águas do Ave) (35,000,000) 35,000,000 Additional capital paid in (Águas do Algarve) 50,000,000 - Additional capital paid in (Simria) 25,000,000 - Additional capital paid in (AdRA - Águas da Região de Aveiro) 30,000,000 - Additional capital paid in (AdRA - Águas da Região de Aveiro) (9,000,000) - Additional capital paid in (Empresa Geral do Fomento) 8,500,000 - Additional capital paid in (Águas do Brasil) 43,000 8,800 Final balance 224,551,800 179,821,330 11. Other accounts receivable - non-current 31.12.2010 31.12.2009 Agrupamento DST/Criar Vantagens/Investhome - 6,187,852 Águas de Guariroba - 25,947,510 - 32,135,362 Other medium and long-term debtors and creditors in 2009 includes accounts receivable from Agrupamento DST/Criar Vantagens/Investhome due to the sale of Grupo Aquapor (amount to be paid in three instalments of 6,187,852 euros/year until 2011; at the end of 2009 and 2010, the corresponding instalments were paid, with the last one reclassified as short-term), as well as the outstanding amount from Águas de Guariroba from the sale of Prolagos in the amount of 26,785,868 euros (86,882,642 real), to be paid in four instalments of 21,720,661 real from 2010 to 2013 (at the start of 2010 the first instalment of 21,720,661 real was paid). At the start of 2010, AdP SGPS sold all of its accounts receivable from Águas de Guariroba to the bank and therefore received the amounts in advance. 12. Customers 31.12.2010 31.12.2009 Simtejo, S.A. 37 549,008 Águas do Noroeste, S.A. 1,620,505 473,787 EPAL, S.A. 223,759 209,204 Águas do Zêzere e Côa, S.A. 577,615 1,000,930 EGF, S.A. 521,828 733,346 Águas do Algarve, S.A. 1,282,790 865,367 Aquapor 498,950 712,058 Águas de Trás-os-Montes e Alto Douro, S.A. 964,376 1,812,078 Sanest, S.A. 186,323 89,746 Águas do Centro, S.A. 44,636 266,150 Águas do Mondego, S.A. 261,308 42,048 Águas do Centro Alentejo, S.A. 225,153 22,970 AgdA - Águas Públicas do Alentejo, S.A. 304,592 - Simarsul, S.A. 30,846 257,173 Other client balances < 150,000 Eur 336,109 401,174 7,078,827 7,435,040 AdP Group_Annual Report 2010_144|145
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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
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The approval of the Stability and G
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In 2010, the objectives to be achie
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The weighting of the fixed rate com
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Financial Risk Management - Complie
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6. Value Chain The AdP group operat
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average, the budget cycle of a mult
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We would also refer to how responsi
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As regards the population effective
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amount of grants conceded by the Eu
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A significant percentage of the app
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• 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 and 122: Financial Position Statement Lisbon
Page 123 and 124: Changes in total equity statement L
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: Gross Assets 31.12.2008 Additions S
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
Page 173 and 174: Consolidated income statement by na
Page 175 and 176: Consolidated statement of changes i
Page 177 and 178: Notes to the consolidated financial
Page 179 and 180: Vision and objectives for the 2008-
Page 181 and 182: - In terms of classification and me
Page 183 and 184: Below, a breakdown of the companies
Page 185 and 186: II - Unregulated activities a. EPAL
Page 187 and 188: If the difference is negative (tari
Page 189 and 190: 2.7 Tangible fixed assets Tangible
Page 191 and 192: This category includes derivatives
Page 193 and 194: 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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