Annual Report 2010 - AdP

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We would also refer to how responsibility for the execution of downstream investments, fundamental to managing the urban water cycle, is attributed to the municipal authorities. Through to 2013, this involves investment in excess of € 2.2 billion and designed to ensure the water supply and wastewater sanitation levels of service standards are met. Nevertheless, the Águas de Portugal Group may also intervene in this field dependent on reaching agreement with the respective municipal authorities. In the sequence of protocols for the development and implementation of downstream water supply and wastewater sanitation systems, and in striving to attain the objectives incorporated into PEAASAR II, AdP SGPS has continued with contacts with a vast range of municipalities for discussion as to the feasibility of establishing partnerships for the organisation of municipal systems. Without overlooking the flexibility inherent to the management model, progress in talks has proven conditioned in certain regions of Portugal by the trends in the service financing model. Furthermore, and under current circumstances, despite the economies generated by an integrated model with scale, the costs attributed to the resulting services still prove greater than the tariffs deemed socially acceptable. Following the contacts already made, and subsequent to appreciation by the Board of Directors, two project partnerships with Noroeste and Mondego e Lis were submitted for the approval of the regulatory authorities at the end of November 2010. The partnership proposal with the Noroeste municipal authorities involves a set of 14 municipalities and an area corresponding to around 3% of the national territory and a resident population in the region of 560,000 inhabitants, corresponding to around 5.5% of the population of mainland Portugal. The forecast initial investment plan totals around € 138.6 million euros and involves significant expansion to water service coverage. The partnership proposal with the municipal authorities of Mondego e Lis gathers together a group of 13 municipalities with a total area corresponding to around 3.4% of Portugal and a resident population of around 440,000 inhabitants, representing around 4.4% of the mainland total. The forecast initial investment plan amounts to € 125.3 million and results in an important boost to the extent of wastewater sanitation coverage. In parallel, the parties engaged in discussion of merging the companies Águas do Mondego, S.A. and Simlis, S.A., with a proposal also submitted to the regulatory authorities at the end of November 2010. Additionally, in 2010, the management entities for two partnerships launched their operational activities and in the case of the partnership with Aveiro region municipalities this has integrated the Ovar municipality since the beginning of January 2011. The company Simdouro - Saneamento do Grande Porto, S.A. was also founded and exclusively attributed the operation and management of the Greater Oporto multi-municipal sanitation system for the collection, recovery and disposal of effluents, in accordance with the stipulations of Decree Law no. 260/2000, of 17 October.
Correspondingly, at the end of December 2010, there were a total of 19 water supply and wastewater sanitation management companies, with their locations and coverage set out below. At the end of 2010, AdP Group companies that manage multi-municipal water supply and/or wastewater sanitation systems had established partnerships with 234 of the 278 municipalities in mainland Portugal. Of those partnerships, 205 are for water supply - corresponding to around 74% of the total - and 230 involve wastewater sanitation systems - around 83% of the total. These agreements involve a contractual responsibility to provide upstream public services in these areas to 5.58 million and 8.22 million residents respectively. 260 230 200 170 140 110 80 50 Municipalities Served Population Served (million inhabitants) 189 189 189 166 166 166 229 230 206 205 2006 2007 2008 2009 2010 Water Supply Wastewater Sanitation 9.00 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 6.97 7.05 7.28 4.98 5.02 5.22 8.36 8.22 5.85 5.58 2006 2007 2008 2009 2010 Water Supply Wastewater Sanitation AdP Group_Annual Report 2010_84|85
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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
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
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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 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
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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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5. We believe that the audit we per
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Consolidated Financial Statements f
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44. Other operational income and ga
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Consolidated income statement by na
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Consolidated statement of changes i
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Notes to the consolidated financial
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Vision and objectives for the 2008-
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- In terms of classification and me
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Below, a breakdown of the companies
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II - Unregulated activities a. EPAL
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If the difference is negative (tari
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2.7 Tangible fixed assets Tangible
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This category includes derivatives
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Financial assets available for sale
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The costs of past services are imme
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information on the conditions that
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The goal of capital risk management
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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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Photograph Captions Cover and Back
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