Annual Report 2010 - AdP

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v) The amount recorded under Group companies refers to the amount of tax that some Group companies will recover as a result of the tax consolidation process (Special Taxation Regime). Namely: 31.12.2010 EGF, S.A. 195,687 AdP Internacional, S.A. 1,965,484 AdP Energias, S.A. 121,189 2,282,360 23. Sales and supply of services 31.12.2010 31.12.2009 EPAL, S.A. 2,580,458 2,608,695 Águas do Douro e Paiva, S.A. 533,768 533,930 Simtejo, S.A. 650,736 616,548 EGF, S.A. 814,234 536,584 Águas do Algarve, S.A. 796,432 746,761 Sanest, S.A. 245,164 239,797 Águas de Santo André, S.A. 289,712 253,001 Águas do Oeste, S.A. 393,401 339,974 Simria, S.A. 242,580 186,045 Águas do Zêzere e Côa, S.A. 294,340 226,057 AdP Serviços, S.A. 239,594 12,579 Águas do Mondego, S.A. 232,100 210,264 Águas do Centro, S.A. 200,712 197,525 Águas de Trás-os-Montes e Alto Douro, S.A. 337,056 266,598 Simarsul, S.A. 200,024 149,910 Águas do Centro Alentejo, S.A. 129,539 111,412 Simlis, S.A. 82,458 82,533 Águas do Norte Alentejano, S.A. 101,318 90,240 Águas do Noroeste, S.A. 636,331 653,813 AdRA - Águas da Região de Aveiro, S.A. 412,536 - 9,412,493 8,062,266 24. External supplies and services 31.12.2010 31.12.2009 Specialized work 4,779,854 5,735,626 Advertising and publicity 929,096 1,097,446 Rental and leasing 270,230 269,793 Travel and accommodation 136,772 132,618 Other external supplies and services 276,996 357,417 6,392,949 7,592,901 The 16% reduction in external supplies and services is essentially due to the 16% drop in specialized work. Specialized work includes costs related to usage of space (includes the cost of the space, rental of equipment, etc.) with a total cost of 2,192,433 euros (2,150,084 euros in 2009). This item also includes the various services performed by the affiliate company AdP Serviços in the amount of 1,742,289 euros (2,029,108 euros in 2009) and legal services in the amount of 77,821 euros (235,714 euros in 2009).
25. Staff costs 31.12.2010 31.12.2009 Governing bodies remuneration i) 839,270 1,112,370 Staff remuneration ii) 2,884,733 4,168,814 Remuneration charges 696,888 854,762 Other staff costs 407,463 437,851 Correction of previous years iii) (366,439) - 4,461,916 6,573,797 i) The drop in Governing Bodies remuneration is due to the 5% drop in their wages during the second half of 2010, and due to the fact that in 2009 bonuses payable in 2010 were estimated in the amount of 255.860 euros (cancelled in 2010), which could not be paid for legal reasons. ii) The change in staff costs is explained by the fact that the bonuses payable in 2010 were accrued in 2009, and in 2010 no accrual was made because the bonuses could not be paid for legal reasons, It should also be mentioned that in 2009 holidays and holiday pay charges were overestimated. iii) The amount of 366,439 euros contra natura refers to cancellation of the bonuses estimated in point i) and the correction between the bonuses paid in 2010 and the estimate made in 2009 for staff. 25.1 Governing Bodies 31.12.2010 31.12.2009 Board of Directors 754,566 1,112,370 Statutory Accountant 84,704 80,000 839,270 1,192,370 The amount recorded in 2010 includes 4,704 euros in VAT due to the fact that the company uses the pro rata method. We would also like to point out that the Chartered Accountant's fees in 2009 are recorded under ESS, while in 2010 they have been included in staff costs - Governing Bodies. 25.2 Staff Nature Average number Year end 2010 2009 2010 2009 Board of Directors 5 5 5 5 Audit Committee 4 4 4 4 Permanent/future employees 63 65 64 66 72 74 73 75 31.12.2010 31.12.2009 Debt Assets Liabilities Assets Liabilities Governing Bodies 3,125 - 369 - Staff 9,861 (682) 19,274 (679) 12,987 (682) 19,643 (679) 26. Depreciation of the year 31.12.2010 31.12.2009 Depreciation of tangible fixed assets 16,981 20,029 Depreciation of intangible assets - - 16,981 20,029 AdP Group_Annual Report 2010_152|153
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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
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EPAL - Empresa Portuguesa das Água
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Of the investment carried out in 20
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8.2. Waste Empresa Geral do Fomento
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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 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: The Group uses derivatives with the
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
Page 195 and 196: The costs of past services are imme
Page 197 and 198: information on the conditions that
Page 199 and 200: The goal of capital risk management
Page 201 and 202: 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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Annual Report 2010 - AdP

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