Annual Report 2010 - AdP

Recommendations

Info

6. Value Chain The AdP group operates an extensive and complex value chain, involving an interdependent series of activities ranging from the identification of potential markets to delivering finished products to customers. This helps create shareholder value and contributes to the high performance standards required of the company.
7. Regulation The AdP Group is mainly engaged in the provision of general economic services that are vital to the public wellbeing, the development of business activities and the protection of the environment. These activities are developed with a view to continuous improvements in the provision of public water supply, wastewater sanitation and waste treatment and recovery services as well as increasing efficiency gains in terms of both production and environmental protection. The regulated activities of the AdP Group are the services it provides on a concession basis in the form of upstream multi-municipal water supply and waste treatment and recovery systems. These services operate in a context defined by current legislation and regulations; the public service concession contracts agreed with the state and the rulings and recommendations issued by the the Water and Waste Services Regulator (ERSAR). In 2009, the publication of Decree Law no. 277/2009, of 2 October, strengthened ERSAR’s powers and broadened its scope to cover services provided to end-users (downstream services). ERSAR’s new statutes will enable it to reduce existing distortions in the market caused by the fact that tariffs charged to end-users have not been optimised. These tariffs can now be scrutinised by the Regulator. In this context, ERSAR issued a recommendation in 2009 on the configuration of tariffs for the public supply of water for human consumption, urban wastewater sanitation and urban waste management (IRAR Recommendation no. 1/2009 - Tariff Recommendation), which was supplemented in 2010 with a recommendation that seeks to establish guidelines for ascertaining costs and setting tariffs. The AdP Group expects that the application of these two ERSAR recommendations will result in the establishing of a more efficient tariff framework able to foster greater and more appropriate recovery of the costs associated with the provision of downstream services and thus contribute to greater sector sustainability. Economic Regulation In accordance with the stipulations of the concession contracts, the annual regulatory cycle begins on 30 September with the presentation of budget and tariff plan proposals for the following year/years to the concession granter and the Regulator. The publication of Decree Law 195/2009, of 20 August, standardised the period for assessing proposals for all multi-municipal systems to a maximum of 60 days. Proposals are presented according to the terms of Ministerial Order 275/2003, of 7 November. The 2010 budget cycle, begun in September 2009, extended to October 2010, the date on which the last tariff was approved. On AdP Group_Annual Report 2010_80|81
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 and 48: The average age within the group is
Page 49 and 50: Regarding staff costs, there was a
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 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?