Annual Report 2010 - AdP

Recommendations

Info

Regarding academic qualifications, a quarter of all employees have higher education qualifications. 25% 1,457 24% 1,416 Academic Qualifications 51% 2,974 Primary School Secondary School Higher Education 665 691 767 169 43 36 313 209 224 360 127 54 UNA-PD UNA-DR EPAL UNI UNR Corporate Primary School Secondary School Higher Education As far as distribution by gender is concerned, it can be confirmed that there is a higher percentage of men in the more operational business units, whilst the distribution is more even in the central support areas. 75% 4,362 Gender Distribution 25% 1,485 Female Male Academic Qualifications by BU The accumulated percentage of absenteeism seen within the group in 2010 is within acceptable parameters for our type of activity. Hours Worked and Absenteeism 4% 3% 435,885 314,333 93% 10,185,983 Hours Worked Hours of Absenteeism Hours of Overtime 702 1,421 41 207 196 550 1,458 316 247 Gender Distribution by BU 9 30 129 UNA-PD UNA-DR EPAL UNI UNR Corporate 3,696,018 88 Female Male 453 381 1,640 77 91 Hours Worked and Absenteeism by BU 172,058 51,512 272,498 10,963 14,685 1,294.983 57,977 43,014 UNA-PD UNA-DR EPAL UNI UNR Corporate 1,051.840 19,072 19,015 3,504.879 167,772 185,496 365,766 Hours Worked Hours of Absenteeism Hours of Overtime 8,044 611
Regarding staff costs, there was a significant reduction in the main indexes and financial ratios in 2010. In fact, total staff costs fell by 7%, while the average annual cost per employee fell 16.5%. 27.43% 27.31% 27.24% 2004 2005 2006 2007 2008 2009 2010 48,006,818 4,487,972 Staff Costs / Turnover POC Accountancy Framework 25.17% 23.21% Staff Costs by BU (euros) 31,509,792 4,737,661 47,031,787 23.92% 23.97% IFRS Accountancy Framework 10,812,530 20.23% 146,586,559 UNA-PD UNA-DR EPAL UNI UNR Corporate AdP Group 2004 2005 2006 2007 2008 2009 2010 POC Accountancy Framework IFRS Accountancy Framework Note (1): the amounts set out above include, in addition to all remuneration, all associated social charges (single social tax, health insurance, life insurance, etc.). Note (2): the Average Monthly Cost per Employee was calculated on the basis of 14 months salary per year. Note (3): The amounts up to 2009 were based on the POC and those of 2010 on the IFRS. To allow for comparison the 2009 figures have also been expressed based on IFRS. 6.2. Research and Development The most relevant aspects of activities undertaken in the 2010 financial year are set out below, demonstrating the group’s alignment with the guidelines set out in the PEAASAR II that contribute most towards the national Technology Plan. “Cooperation (…) with university and research institutions of relevance to the water and sanitation field with the objective of setting up partnerships taking into consideration the 7th FP” The following table refers to the projects that AdP has been directly involved in or in which it provided leverage for the involvement of its subsidiaries, almost always as beneficiaries. Regarding the 7th Framework Programme (7th FP), the work carried out in the financial year of 2010 covered six European consortia, and was aimed at developing relevant knowledge for the AdP Group, and also support to a qualified participation of national scientific teams. 69.83% Staff Costs/ EBITDA 64.06% 66.36% 63.68% 47.40% 59.44% 41.63% 52.90% Staff Costs 2004 2005 2006 2007 2008 2009 2010 Accounting standards POC POC POC POC POC POC IFRS IFRS Staff costs (million €) 114.20 126.40 145.10 139.30 142.68 157.71 157.71 146.59 Average annual cost per employee (€) 23,244 24,704 27,204 26,780 25,709 30,035 30,035 25,070 Average monthly cost per employee (€) 1,660 1,765 1,943 1,913 1,836 2,145 2,145 1,791 Staff costs/ Turnover 27.43% 27.31% 27.24% 25.17% 23.21% 23.92% 23.97% 20.23% Staff costs/ EBITDA 69.83% 64.06% 66.36% 63.68% 47.40% 41.63% 59.44% 52.90% AdP Group_Annual Report 2010_48|49
Page 1: Annual Report 2010 AdP Group_Annual
Page 5 and 6: Table of Contents Chairman’s Mess
Page 7 and 8: the implementation of concession co
Page 9 and 10: AdP Group_Annual Report 2010_8|9
Page 11 and 12: Economic and financial indicators 2
Page 13: 238.3 Volume of Wastewater treated
Page 16 and 17: the sector regulator and the Minist
Page 18 and 19: A - Corporate Governance
Page 21 and 22: A - Corporate Governance 1. Mission
Page 23 and 24: in certain regions of the country,
Page 25 and 26: with the Ministry of Environment an
Page 27 and 28: 3. Information on Relevant Transact
Page 29 and 30: Executive Board Under the terms of
Page 31 and 32: Executive Board Chairman Pedro Edua
Page 33 and 34: - Full member the European Banking
Page 35 and 36: - In October 2002, he was appointed
Page 37 and 38: - 1992-1993 - Director and Financia
Page 39 and 40: Member - Pedro António Martins Men
Page 41 and 42: • EPAL EPAL operates in the whole
Page 43 and 44: II. Remuneration and Other Costs (A
Page 45 and 46: The report highlights the strategy
Page 47: The average age within the group is
Page 51 and 52: “Boosting national participation
Page 53 and 54: - considering the objective establi
Page 55 and 56: • Treat employees with respect an
Page 57 and 58: 8. Code of Ethical Conduct Remunera
Page 59 and 60: The evaluation of risk is carried o
Page 61 and 62: Information included on the Company
Page 63 and 64: There is an important volume of lon
Page 65 and 66: [ blank page ] AdP Group_Annual Rep
Page 67: AdP Group_Annual Report 2010_66|67
Page 70 and 71: 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 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 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
Page 159:
[ blank page ] AdP Group_Annual Rep
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
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 and 216:
Debts per municipality in excess of
Page 217 and 218:
Significant amounts were received f
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
Page 227 and 228:
36. Sales and supply of services pe
Page 229 and 230:
40. Amortizations, provisions and r
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
Page 239:
Lisbon, 15 March 2011 António Manu
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
Page 248 and 249:
Photograph Captions Cover and Back
show all

Annual Report 2010 - AdP

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?