Annual Report 2010 - AdP

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19. State and other public entities 31.12.2010 31.12.2009 Corporate income tax (IRC) withholding from third parties 1,551,531 - VAT receivable 10,616,707 12,402,378 Other 217,106 963,950 State and other public entities assets 12,385,344 13,366,328 Withholding on behalf of third parties -- IRC (1,527,562) (1,639,223) VAT payable (1,538,588) (1,626,648) Social Security contributions (2,105,628) (1,866,805) Other taxes and duties (23,873,521) (21,324,457) State and other public entities liabilities (29,045,299) (26,457,133) Net value amounts owed to State and other public entities (16,659,956) (13,090,805) 20. Other current assets 31.12.2010 31.12.2009 Advances to suppliers 1,136,188 584,758 Staff 369,913 308,189 Other current assets 46,151 - Shareholders/partners 1,383,246 1,149,481 Other accounts receivable i) 63,212,990 70,929,452 Investment grants - Cohesion Fund and other ii) 150,579,913 271,652,121 Advances to investment suppliers 7,926,387 12,276,679 Deferrals 9,605,489 12,974,103 Accumulated losses due to impairment 20.1 (6,444,917) (4,848,052) 227,815,360 365,026,732 i) The decrease in the “Other accounts receivable” item is the result of the sale of the debt of Águas de Guariroba (as a result of the sale of Prolagos) to a Brazilian bank in the amount of 8,649,170 euros. ii) Affiliates with amounts receivable from the Cohesion Fund are: 31.12.2010 31.12.2009 Águas do Algarve, S.A. 13.293.506 22.660.703 Águas do Noroeste, S.A. 26.452.812 47.227.870 Águas do Centro Alentejo, S.A. 4.174.228 3.177.307 Águas do Centro, S.A. 7.101.479 14.947.717 Águas do Mondego, S.A. - 8.031.058 Águas do Norte Alentejano, S.A. 7.939.709 8.340.541 Águas do Oeste, S.A. 23.928.175 29.076.069 Águas de Trás-os-Montes e Alto Douro, S.A. 21.033.652 71.128.680 Águas do Zêzere e Côa, S.A. 126.183 3.397.437 Algar, S.A. 1.914.851 1.981.960 Amarsul, S.A. 277.243 2.049.972 Ersuc, S.A. 4.217.966 - Resinorte, S.A. 4.508.324 - Simarsul, S.A. 1.440.695 17.476.802 Simlis, S.A. 6.594.165 6.594.165 Simria, S.A. 7.333.420 5.646.455 Simtejo, S.A. 9.772.387 22.867.415 Suldouro, S.A. 7.152.701 2.288.473 Valnor, S.A. 1.300.180 1.789.475 Valorlis, S.A. 2.018.236 2.970.023 Total 150.579.913 271.652.121
Significant amounts were received from the Cohesion Fund in 2010. 20.1 Losses due to impairment of other current assets 31.12.2010 Initial balance (4,848,052) Increases (436,586) Reversals 29,585 Conversion differences - Reclassifications (1,316,025) Outside the perimeter 126,161 Final balance (6,444,917) Reclassifications are explained in note 26. 21. Cash and cash equivalents 31.12.2010 31.12.2009 Cash 1,393,724 3,106,023 Demand deposits 51,773,491 38,140,052 Term deposits 425,673,152 257,989,986 478,840,367 299,236,062 22. Capital Capital in the amount of 434,500,000 euros consists of 86,900,000 shares of 5 euros each and is fully paid up. 22.1 Shareholders 31.12.2010 Value % Parpública - SGPS, S.A. 313,613,590 72.18% Parcaixa, SGPS, S.A. 82,555,000 19.00% Direcção Geral do Tesouro (National Treasury) 38,331,410 8.82% 434,500,000 100.00% 22.2 Earnings per share 31.12.2010 31.12.2009 Net income of the year 79,459,018 65,325,489 Average number of shares 86,900,000 86,900,000 Earnings per share (basic and diluted) 0.91 0.75 23. Reserves and other adjustments 31.12.2010 31.12.2009 Legal reserves 10,163,283 7,867,715 Free reserves 19,000,764 - Foreign exchange conversion reserve 89,429 3,749,355 29,253,475 11,617,070 AdP Group_Annual Report 2010_216|217
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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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25. Staff costs 31.12.2010 31.12.20
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i) The table below lists the main g
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2009 Domestic banks Foreign banks T
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[ blank page ] AdP Group_Annual Rep
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9. The Audit Committee wishes to po
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Opinion 7. In our opinion, the abov
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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
Page 203 and 204: 7. Derivatives 7.1 Classification o
Page 205 and 206: - Águas do Centro (Contracts for c
Page 207 and 208: “Basic equipment” essentially i
Page 209 and 210: 12. Financial investments in associ
Page 211 and 212: 14. Derivatives 31.12.2010 31.12.20
Page 213 and 214: ii) As a result of changes to the v
Page 215: Debts per municipality in excess of
Page 219 and 220: 26. Provisions 31.12.2010 31.12.200
Page 221 and 222: 27.1.5 Cost for the period 31 Decem
Page 223 and 224: Fixed interest rate 31.12.2010 31.1
Page 225 and 226: ii) The pig farming subsidy that wa
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Page 231 and 232: 45. Financial costs 31.12.2010 31.1
Page 233 and 234: 50. Contractual investment The esti
Page 235 and 236: Águas de Santo André, S.A. Instit
Page 237 and 238: Case no. CO/15/2010 - pertaining to
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Page 242 and 243: 9. The Audit Committee wishes to po
Page 244 and 245: 5. Our audit also included a verifi
Page 246 and 247: - verifying consolidation transacti
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