2013 Annual Report Madrileña Red De Gas We Are the First Independent Gas Distribution Company on the Iberian Peninsula
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2013 Annual Report Madrileña Red de Gas We are the first independent gas distribution company on the Iberian Peninsula. Our geographical area of activity is exclusively the Madrid Region . Contents Introduction Performance Chairman’s Statement 04 Performance Overview 55 Letter from the CEO 06 Operating Earnings 56 Revenues and Expenses 57 The Company Consolidated Statement Headline Figures 2010-2013 10 of Financial Position 58 Vision and Values 13 Operating Cash Flow 60 Governing Bodies 14 Capital Expenditures 61 Where Did We Come From? 19 Corporate Social Highlights Responsibility of the Period 2010-2013 24 Code of Ethics 64 Scope of Operation Human Resources 67 Achievements and Growth 34 Commitment Business Area 39 to the Community 68 Health and Safety 71 Our business Environmental Policy 75 Strategy and Objectives 43 Appendix Natural Gas 45 The Regulatory Framework i. Audit Report 77 of the Gas Industry 47 ii. Certificates 78 Sustainable Development of the Spanish Gas System 50 INTRODUCTION Chairman’s Statement The company has completed its third year. Now people. The business world does have its creative lacking in a gas supply network. Finally, we is a good time to take stock of the road traveled geniuses and its exceptional individuals. In are implementing and developing performance so far, and look ahead to our future. the long run, however, success is never a one- support systems to multiply our efficiency Madrileña Red de Gas is Spain's leading man show. Every success is built by a team. and the results of our efforts. independent gas distributor. We focus on a A team which, in our case, merits recognition Going forward, we shall cement our single activity, and this requires us to strive for for speedily identifying and exploiting all the achievements so far. The future will be shaped excellence all the more. In addition, we are firmly opportunities that were open to us to improve by three key factors: the prospect of a game- committed to our host territory, the devolved internally and grow outward. In all that lies ahead, changing economic recovery capable of boosting region of Madrid. I am confident that our team will find a firm growth; the perception of natural gas as an In these first three years of Madrileña Red bedrock of support. energy of the future, given its valuable features; de Gas' existence, we have amply achieved both Madrileña Red de Gas' strategic vision and growth exploiting the low penetration of these goals. The success of this venture lies in embraces three key factors. First, gas is an natural gas in Spain – specifically, the potential our dedication to those purposes, and in our energy source of the future. It has a competitive in the Madrid region. Against this background, focus on results. As a gas distribution company, advantage over other final energies for Madrileña Red de Gas will continue to offer Madrileña has upheld outstanding standards residential and industrial uses; it generates lower outstanding service and business performance. of safety and customer response, and we are emissions than competing energy sources; and in no doubt that our customers are aware of this. for some specific uses – such as electricity We have raised and maintained service quality generation – its value is becoming increasingly “We have now reached approximately and hold a leadership position in this field. clear as a robust and reliable source of electricity. Our commitment to customers and the wider Secondly, the penetration of gas in Spain remains 835.000 users. Our emergency response community is and will remain strong, because considerably lower than in our comparable times remain optimal. We have set it lies at the heart of who we are. countries. This means there is very high growth We have now reached a figure of 835,000 potential in terms of both demand and network Pedro Mielgo in motion management systems that clients. Our emergency response times remain expansion. Finally, we are determined to develop Chairman are most suited for the needs and optimal – way ahead of statutory requirements. all the opportunities still to be exploited in our characteristics of our company. We We have set in motion management systems own territory, the Madrid region. that are most suited for the needs and Madrileña Red de Gas accordingly takes a are now moving forward at full throttle characteristics of our company. We are now threefold approach. We strive to ensure ongoing to give our users what they want, and moving forward at full throttle to give our users in-company improvement as a way to offer we've sped up our network extension what they want, and we've sped up our network services and performance that only get better. extension projects, particularly in new Our growth strategy focuses on our home projects.” municipalities. territory. We have extended our reach in the None of this would have been possible without municipalities where we already had a presence, a talented, motivated and dedicated team of and have spread into localities that were so far 04 Madrileña Red de Gas 2013 Annual Report 05 INTRODUCTION Letter from the Chief Executive Officer Our fiscal year ends in June 2013 . Looking back, since the spinoff from Gas Natural Fenosa in users and marketers, raise employee we find that we have amply exceeded the targets May 2010 , accounting for more than 17% of satisfaction, and enhance the quality of our work . set down in our Strategic Plan. our headcount. In conclusion, in a short time we have laid In terms of expansion, we carried out The signing in January 2013 of Madrileña the groundwork for a robust future. We have an various acquisitions from Gas Natural and Red de Gas' first collective bargaining identity and a culture of our own, setting us apart Iberdrola. These acquisitions were consolidated agreement with all the labor unions was a from other gas distributors, and nurturing high throughout the year and enabled us to achieve collective success and a display of flexibility self-esteem and a strong sense of belonging our present size. In addition, in January 2012 and open-handedness on all sides. Over these among all of us who work at Madrileña Red de the regional government of Madrid granted us past few years, we have seen our families grow: Gas. We are clear about where we are going and operating licenses in 9 new municipalities that 17 births and, at the time of writing, 4 new what our role is on the team. We are powerfully are not yet equipped with piped natural gas. pregnancies bring joy to our lives. It is a priority results-oriented, and it is measurable results Gas demand rose 4% in the past year, chiefly with us that everyone working at Madrileña that form the basis of assessment of each team as a result of displacing more expensive, more Red de Gas can devote themselves to the most member's performance. pollutant forms of energy (diesel, LPG, etc). important moment of our lives – the birth of ou r User network operations faced a further children – in the absence of work pressure. For weakening in the economic situation. Hard-hit the sake of our peace of mind, it behooves us households in the Madrid region registered all to lend a hand and share the workload in line an increase in requests for supply shutoffs for with emerging circumstances. “Going forward, we shall continue to non-payment; we also demonstrated our ability In the environment field, we have been to meet special needs at short notice. Our certified to the ISO 14001 environmental focus our growth on new municipalities website (www.madrilena.es) has attracted practices standard. We are now replacing our still not supplied with piped gas. growing traffic, and users' comments help us entire diesel-powered fleet with vehicles propelled Alejandro Lafarga to continue improving. We are continuing to by compressed natural gas or hybrid systems. Chief Executive Officer We shall encourage the use of natural enhance and automate our processes so that This move translates into environmental gas vehicles. We shall improve the every day we can get closer to what our improvements and 25% savings with respect processes underlying our relationships users want. to diesel. Furthermore, our company is now In our maintenance activity, our response a member of the executive board of Gasnam with users and marketers, raise times remain below 30 minutes for emergency (Spanish Association of Natural Gas for employee satisfaction, and enhance calls. Network maintenance and safety are a Mobility Purposes). the quality of our work and of the priority for us. Proof of this is that we are Going forward, we shall continue to focus OHSAS 18001 certified, the highest form of our growth on new municipalities still not environment.” recognition in the field of occupational health supplied with piped gas. We shall encourage the and safety. Moreover, we have successfully use of natural gas vehicles. We shall improve incorporated 28 new employees to our team the processes underlying our relationships with 06 Madrileña Red de Gas 2013 Annual Report 07 The Company Madrileña Red de Gas is the first and only company on the Iberian Peninsula to operate a distribution network wholly independently from the rest of businesses in the gas value chain. It is the first example in Spain of full unbundling of gas industry activities. Façade of Madrileña headquarters. The company's headquarters at Pozuelo de Alarcón was formally opened in September 2010 . 2013 Annual Report 09 THE COMPANY Headline Figures 2012 - 2013 835,000 57 176.1 111 118.2 Users Municipalities Revenue