8. Intangible assets 31.12.<strong>2010</strong> 31.12.2009 Infrastructure usage rights - IFRIC 12 8.2 3,783,760,406 2,925,787,473 Goodwill 8.3 3,785,877 6,499,257 Development costs 3,014,886 1,263,470 Industrial property and other rights 24,065,915 25,427,682 Computer software 48,191 - Other intangible assets 12,502,539 12,283,964 Intangible assets under construction 8.2 746,557,035 1,043,226,993 4,573,734,850 4,014,488,838 The group does not recognize intangible assets generated internally. 8.1 Changes during the period Gross Value 31.12.2009 Increases For. Ex. Write-offs/ Perimeter 31.12.<strong>2010</strong> conversion sales Transf. Reclass. changes Infrastructure usage right 3,745,543,885 174,071,860 - (2,244,652) 102,051,369 681,337,974 - 4,700,760,436 Goodwill 6,499,257 - - (1,322,740) - (1,390,640) - 3,785,877 Development projects 9,198,732 40,929 - (49,110) - 1,813,471 (517,159) 10,486,863 Industrial property 36,798,958 285,640 - (30,725) - 7,103 - 37,060,976 Computer software - - - - - 209,527 - 209,527 Other intangible assets 33,475,319 1,628,699 27 (873,825) 1,077,268 (5,758,952) (1,054) 29,547,481 Intangible assets under construction 1,043,226,993 391,628,422 - (1,730,474) (22,713,173) (663,814,750) (39,984) 746,557,035 4,874,743,144 567,655,550 27 (6,251,525) 80,415,464 12,403,733 (558,196) 5,528,408,196 Accumulated amortization 31.12.2009 Increases For. Ex. Write-offs/ Transf. Reclass. Perimeter 31.12.<strong>2010</strong> conversion sales Changes Infrastructure usage right (819,756,412) (114,316,596) - 15,965,433 3,273,636 (2,166,091) (917,000,030) Development projects (7,935,262) (342,949) - 239,658 218,706 20,734 327,137 (7,471,977) Industrial property (11,371,277) (1,654,987) - 31,829 (627) - - (12,995,061) Computer software (37,107) - - - (124,229) - (161,336) Other intangible assets (21,191,355) (1,722,825) (27) 1,858,979 (259,823) 3,719,226 550,882 (17,044,943) (860,254,306) (118,074,464) (27) 18,095,899 3,231,892 1,449,640 878,019 (954,673,347) Net value 4,014,488,838 449,581,086 - 11,844,374 83,647,356 13,853,373 319,823 4,573,734,849 8.2 Infrastructure usage rights and intangible assets under construction Gross Value 31.12.2009 Increases Transf. Write-offs/ Reclass. Perimeter 31.12.<strong>2010</strong> sales Changes Infrastructure usage right 3,745,543,885 174,071,860 102,051,369 (2,244,652) 681,337,974 - 4,700,760,436 Intangible assets under construction 1,043,226,993 391,628,422 (22,713,173) (1,730,474) (663,814,750) (39,984) 746,557,035 4,788,770,878 565,700,282 79,338,196 (3,975,126) 17,523,224 (39,984) 5,447,317,471 Accumulated amortization 31.12.2009 Increases Transf. Write-offs/ Reclass. Perimeter 31.12.<strong>2010</strong> sales Changes Infrastructure usage right (819,756,412) (83,732,765) 3,273,636 15,965,433 (2,166,091) (30,583,831) (917,000,030) (819,756,412) (83,732,765) 3,273,636 15,965,433 (2,166,091) (30,583,831) (917,000,030) Net value 3,969,014,466 481,967,518 82,611,832 11,990,307 15,357,133 (30,623,815) 4,530,317,441 The increase in infrastructure usage rights and intangible assets under construction results from the continuous volume of investments that <strong>AdP</strong> Group companies have undertaken over the past years. The business units that contributed most to this investment volume were UNA-PD (Water Business Unit –Production and Purification) and UNR (Waste Business Unit). The main investments made or underway (UNA-PD) are: - Águas do Algarve (Contract for designing and constructing the Wastewater Treatment Plant (WTP) of Vale da Telha and Arrifana e Vale da Telha interceptor system; Contract for constructing the WTP of Vila Real de Santo António - Phase II; Project for conclusion of the construction of the Odelouca dam);
- Águas do Centro (Contracts for constructing and remodelling the WTP, interceptor systems and the Pumping Station of the geographic area of Raia, Zêzere and Nabão of the municipalities of Proença-a-Nova, Vila Velha de Ródão, Pedrógão Grande, Figueiró dos Vinhos, Oleiros and Sertã; Project for designing and constructing of the embankment adjacent to the Bela Vista reservoirs and the Corgas Water Treatment Plant (WTP) of the municipalities of Castelo Branco and Proença-a-Nova); - Águas do Centro Alentejo (Contracts for the small WTPs of the Municipalities of Alandroal, Reguengos, Évora, Borba and Redondo); - Águas do Douro e Paiva (Contracts to interconnect with the subsystem of Vale do Sousa - Ramalde Pumping Station and connection pipeline at Galegos; Contacts for supplying water to Amarante); - Águas do Mondego (Contracts associated with construction of the Boavista water supply system; Contract for constructing the Alge and Louçainha pipeline systems of Alge and Louçainha; Contract for constructing the Ronqueira complex and pipeline system; Contracts for executing collection and treatment of effluent of the municipality of Penela); - Águas do Noroeste (Contract for remodelling and renovating the Rabada WTP; Contract for constructing the Ave WTP; Contract for constructing the Sousa WTP, Contract for constructing the South Jetty Pumping Station and Vila do Conde North interceptor; Contract for constructing the Ponte da Baia WTP; Contract for constructing the duplication of the Ave interceptor and pumping stations; Contract for executing the interceptors of Vila do Conde South); - Águas do Norte Alentejano (Contract for restoring the Alegrete WTP and respective pumping stations and construction of the WTP and Urra and Caia Pumping Stations; Contract for restoring the Alter do Chão, Chança and Ervedal WTPs); - Águas do Oeste (Contract for expanding the Nazaré sanitation system and executing the North Shore - Óbidos sanitation system; Contract for remodelling and expanding the WTPs of Alenquer, Carregado and Nazaré; - AgdA - Águas Públicas do Alentejo (Contract for constructing the feeder pipe of Sta. Vitória, Mombeja and Beringel; Contract for constructing the WTP and interceptor systems of Serpa and Vila Nova de S. Bento); - AdRA - Águas da Região de Aveiro (Contract for constructing the water supply network to Castelões, Presas and Espinheiro; Contract for expanding the wastewater drainage network of Vila de Vagos - 2nd phase); -Águas de Santo André; Contract for constructing the dumping cell of Harmless Industrial Waste in the Santo André Landfill); - Águas de Trás-os-Montes e Alto Douro (Contract for constructing the pipelines, reservoirs and Alto Sabor Pumping Stations); Contracts for constructing the small WTPs of Douro South; Contract for constructing the Cachão WTP and pumping systems); - Águas do Zêzere e Côa (Contract for constructing the technical connections of the Pinhel sanitation subs-systems; Contracts for constructing the sanitation sub-systems of Upper Mondego - municipalities of Seia and Oliveira do Hospital); - Sanest (Contract for restoring the wastewater treatment facilities of the Estoril Coast Sanitation System; Contract for restoring the Laje outfall, low zone of the municipality of Oeiras); - Simarsul (Contract for designing and constructing the WTP and the drainage and pumping systems of the Barreiro - Moita subsystem; Contract for designing and constructing the Quinta do Conde WTP; Contract for constructing the underwater outfall of the Lagoa - Meco WTP); - Simria (Contract for constructing the Laje and Caster interceptors; Contracts for stabilizing underwater crossings - Main Canal and São Jacinto Canal); - Simtejo (Contract for designing and constructing the adaptation and complementary work of Alcântara WTP; Contract for constructing the Agencies pumping system and the underwater outflow Contract for the interceptor and Pumping Stations of Largo Chafariz de Dentro - Cais do Sodré). In addition, affiliate AdRA - Águas da Região de Aveiro recorded an addition of intangible assets - Infrastructure Usage Rights, in the amount of 98,118,261 euros. This value corresponds to monetary compensation in the form of remuneration for allocation of the infrastructures where the company operates. Investment in the UNR conducted in <strong>2010</strong> was approximately 101,724 000 euros. The following table lists the main investments according to type and system. Landfill Biogas Organic Waste Selective Sanitário Landfill Recovery Plants Incinerator Transfer Collection Sorting Other Total Resinorte, S.A. 818,838 7,396 1,389,890 - 4,183,292 797,366 - 496,740 7,693,523 Suldouro, S.A. 168,064 976,456 15,941,695 - - 241,307 315,524 2,118 17,645,164 Ersuc, S.A. 183,460 681,610 23,322,697 - 15,000 859,082 2,663,801 212,467 27,938,116 Valorlis, S.A. 809,424 709,440 3,062,596 - 300 142,376 14,330 386,696 5,125,162 Amarsul, S.A. 952,544 1,678,600 4,500,730 - 208,827 532,199 1,288,186 306,917 9,468,003 Valnor, S.A. 1,811,198 - 2,156,541 - - 494,368 196,528 619,124 5,277,758 Algar, S.A. 2,266,883 1,847,052 8,277,120 - 365,380 928,946 631,953 1,260,559 15,577,893 Valorsul, S.A. 2,650,905 1,727,443 - 802,773 1,030,264 - 415,284 3,234,012 9,860,682 Total 9,661,317 7,627,997 58,651,269 802,773 5,803,064 3,995,643 5,525,605 6,518,633 98,586,302 <strong>AdP</strong> Group_<strong>Annual</strong> <strong>Report</strong> <strong>2010</strong>_204|205
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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
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8.3. Energy and Other Businesses Th
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As regards feasible locations, the
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Key Events Brazil There was continu
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Key activities and events The year
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• design and production of integr
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10. Future Perspectives The present
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12. Proposed Appropriation of Profi
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C - Financial Statements for 2010
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Separate Financial Statements for t
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Financial Position Statement Lisbon
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Changes in total equity statement L
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Notes to the financial statements 1
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(b) recognition and subsequent meas
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The following are subsidiary compan
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Land is not depreciated. Depreciati
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Gains and losses resulting from a c
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isks of the asset in question. The
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3 Financial risk management policy
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4.1 Provisions and adjustments AdP
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) Extraordinary income Extraordinar
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Gross Assets 31.12.2008 Additions S
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10.1 Changes during the period 31.1
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iv) In 2009, Other debtors essentia
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At 31 December 2010, capital was fu
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The Group uses derivatives with the
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