DOCSLIB.ORG

Grupo Soares Da Costa, SGPS, SA» and Respective Leading Entrepreneurial Group

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Grupo Soares Da Costa, SGPS, SA» and Respective Leading Entrepreneurial Group Grupo Soares da Costa, SGPS, S.A. public company Head Office: Rua de Santos Pousada, 220 – 4000-478 Porto Share capital 160,000,000 Euros NIPC 500 265 763, Registered at the Porto CRC CONTACTS: General [email protected] 228 342 200 Media, Public relations [email protected] 228 342 692 Investor support [email protected] 228 342 534 Management Report 1st Half of 2009 HIGHLIGHTS: Turnover of 474.8 million euros, 23.4 % higher than the previous year; 53.8% of the Turnover results from international activity, with the most significant growth being in the United States of America and Romania; Operating profit (EBIT) of 26.5 million euros, compared to 22.9 million one year ago (+ 16.0%); EBITDA grows by 11.1% to 43.2 million euros, representing +9.1% of the Turnover; Financial results of -19.0 million compared to -17.4 one year ago; Profit before tax of 7.5 million euros, 36.5% higher than that for the same period of the previous year; Net profit attributable to the Group of 4.7 million euros, showing growth of 3.6% relative to the same period of the previous year; Backlog at the end of the semester of 1 862 million euros, compared to 1 443 million one year ago; Selection of the “Celtic Metro Group” Consortium in which the company holds 23% for the Final Phase of the tender for the construction of the “Dublin Metro North” in Dublin (Republic of Ireland). Grupo Soares da Costa Management Report – 1st Semester of 2009 – Page 1 of 36 0. INTRODUCTION The present interim management report and accompanying financial statements seek to offer the Shareholders and the capital market, in compliance with the applicable legislation, namely the Commercial Companies Code, Securities Code and rules and recommendations of the Portuguese Securities Market Commission on matters relative to the presentation of six-monthly accounts, public knowledge on the evolution of the businesses, economic- financial situation and the most relevant aspects on the life of the company «Grupo Soares da Costa, SGPS, SA» and respective leading Entrepreneurial Group. The consolidated accounts presented are prepared in accordance with the International Accounting Standards (IAS/IFRS) applicable to the interim reports, as adopted in the European Union. 1 Under the terms of the provisions in sub-paragraph b) of number 3 of article 246 of the Securities Code , the individual six-monthly accounts are required to be disclosed only when they contain significant information. The company, as in previous years, has also chosen to disclose the information relative to its individual accounts and which, in this case, are prepared in accordance with the accounting principles generally accepted in Portugal (National Plan of Accounts and accounting directives issued by the Accounting Standardisation Commission). The financial statements which accompany this report have not been subjected to an audit or a limited review. Abbreviations and expressions are used in this Report for motives of simplicity, with the following meanings: • ABFS Annex to the individual Balance Sheet and Financial Statements • AP&EN “Accounting Policies and Explanatory Notes” which are part of the consolidated Financial Statements. • EBIT Operating Result • EBITDA Operating cash flow • BA Business Area • T Turnover, corresponding to the sum of “Sales", Services Rendered” “Supplementary Income” (POC accounts 71, 72 and 73) 1 In the version provided by article 7 of Decree-Law number 357-A/2007, of 31 October Grupo Soares da Costa Management Report – 1st Semester of 2009 – Page 2 of 36 I. GENERAL SUMMARY In an adverse global macroeconomic environment following the serious and unprecedented financial crisis, which spread rapidly last year, the Soares da Costa Group activity has continued to pursue its recent line guided by the dual objectives of internationalisation / diversification and based on the strategic lines defined in the 2007-2012 Business Plan. This activity, in the semester which has now ended, concentrated on organic aspects: in the consolidation of its market share, in the improvement and fine-tuning of management methods and processes and in the solidification of business profitability levels. In addition to the facts noted in the highlights of this information and which are of immediate importance in this general summary, the following table presents the Main Consolidated Indicators Values in thousand euros Headings 1st Sem 2009 1st Sem 2008 Variation Turnover 474.837 384.816 23,4% EBITDA 43.235 38.907 11,1% EBITDA Margin / Business Turnover 9,1% 10,1% -1.0 p.p. Operating Results 26.542 22.884 16,0% Financial Result -18.995 -17.355 9,4% Profit Before Tax 7.548 5.529 36,5% Net profit attributable to the Group 4.724 4.561 3,6% It should also be noted in particular the value of the backlog standing at 1862 million at the end of the semester to which this information refers, in comparison with 1443 million euros in the previous year. At the level of the individual accounts, a net result of 28.8 million euros was registered at the end of the 1st Half, against the value of 4.2 million for the same period of the previous year, essentially based on the income gained from capital holdings (dividends) to the value of 31.9 million euros relative to the 8.75 million in the 1st Half of 2008 This general summary ends with a reference to some of the important facts of the semester which has now ended: i) Holding of the Annual General Meeting of Shareholders on 27 April 2009 where all the points on the agenda were approved, with the following being of particular importance: a) Deliberation of this General Meeting together with the deliberation of identical content of the Special General Meeting of the same date to convert the preferred shares without voting rights into ordinary shares; b) Approval of the Management Report, Individual Accounts and Consolidated Accounts relative to 2008, as well as the application of the individual net results. Regarding the application of the Grupo Soares da Costa Management Report – 1st Semester of 2009 – Page 3 of 36 results, of particular note is the decision, after an interregnum of eleven years, to distribute dividends; ii) Establishment of an agreement of cooperation with the Indi Group, of Mexico, to participate in public tenders in that country; iii) Publication of the second Sustainability Report relative to 2008 under the title «Growing in a Responsible Manner»; iv) Conclusion of the construction of the bridge over the River Zambezi in Mozambique (in a consortium), bridge over the River Cacheu in Guinea Bissau and bridge at Catumbela in Angola (in a consortium); v) Selection for the Final Phase of the North Metro in Dublin, of the consortium in which the Group holds 23%; vi) Award of the construction of a stretch of approximately 12 Km of the “Fall Line Freeway” motorway, in the State of Georgia (USA), in the value of 29.9 million US$ (in July 2009). Grupo Soares da Costa Management Report – 1st Semester of 2009 – Page 4 of 36 II. ORGANISATION II.1 Composition and organogram of the Group Maintaining construction as its core activity, the Group has continued organised since the end of 2002, according to four major business areas, each headed by a holding company, as follows: • Soares da Costa Construção, SGPS, S.A. - civil construction and engineering • Soares da Costa Indústria, SGPS, S.A. - construction subsidiary or highly specialised industries • Soares da Costa Concessões, SGPS, S.A. - operation of infrastructure or public service concessions • Soares da Costa Imobiliária, SGPS, S.A. - real estate management and promotion These four companies, fully held by Grupo Soares da Costa, SGPS, SA, own direct holdings in the operational companies of each specific business area, although, and in a vertical structure, some of these companies also own holdings in other companies. On the other hand, the Company also owns direct holdings, of which SCSP - Soares da Costa Serviços Partilhados, SA and Soares da Costa Desenvolvimento, S.A. are of particular importance, with the latter being especially suited to being the Group's vehicle for entry into new business areas. The organogram on the next page illustrates the structure of the holdings and consolidation methods, thus presenting the extent of the coverage and composition of Grupo Soares da Costa. The full list of the directly and indirectly participated companies, included or not in the consolidation, is presented in notes number 3, 4, 5 and 6 of the AP&EN, where other information is also disclosed. Grupo Soares da Costa Management Report – 1st Semester of 2009 – Page 5 of 36 Grupo Soares da Costa, SGPS, SA 100% 100% 100% 100% SDC Constru ção, SDC Imobiliária, SDC Concessões, SDC Indústria, SGPS, SA SGPS, SA SGPS, SA SGPS, SA 100% SDC América, INC CLEAR, SA 100% 100% MZI, LDA SDC América, INC CLEAR, SA MZI, LDA 100% SDC CONCESIONES 100% Porto Construction SDC CONCESIONES SOCOMETAL, SA 60% Porto Construction 95% CLEAR COSTA RICA, SA SOCOMETAL, SA Group, LLC CLEAR 100% CIAGEST, SA COSTA RICA, SA Group, LLC ANGOLA, SA CIAGEST, SA ANGOLA, SA SDC Construction 100% 80% SDC Construction Mercados Novos, LDA 100% COSTAPARQUES, SA Services, LLC MTA, LDA.(7) Mercados Novos, LDA COSTAPARQUES, SA Services, LLC MTA, LDA.(7) 100% 99% 100% SDC C.S., LLC SOARTA, SA SDC C.S., LLC 100% SDC Serviços Técnicos SOARTA, SA SDC Serviços Técnicos 100% e de Gestão, SA Prince, LLC e de Gestão, SA Prince, LLC 100% HABITOP, SA HABITOP, SA INFRAESTRUCT. SDC 100% LusoAir, INC 100% INFRAESTRUCT.100 SDC LusoAir, INC COSTA RICA, SA 100% COSTA% RICA, SA NAVEGAIA, SA 100%SDC Contractor, LLC NAVEGAIA, SA SDC Contractor, LLC 100% CPE, SA CPE, SA 100% SDC IMOBILIÁRIA, Gaia, CCMS, LLC 99% SDC IMOBILIÁRIA, todoIntegral (2) Gaia, CCMS, LLC LDA (ANGOLA) (2) é LDA (ANGOLA) 80% 100% SCSP - Soares da Costa M SDC Moçambique, SARL INTEVIAS, SA SCSP - Soares da Costa SDC Moçambique, SARL INTEVIAS, SA Serviços 100% CAIS da Serviços (3) CAIS da Partilhados, SA 100% SDC S.
Load more

Recommended publications
  • The Top 225 Global Contractors
    The Top 225 International Contractors The Top 225 Global Contractors August 18, 2008 This annual issue ranks the 225 largest construction contracting firms from around the world. It also ranks the largest firms in a wide variety of market sectors and geographic markets: Building, Manufacturing, Power, Water, Industrial/Petroleum, Transportation, Hazardous Waste, Sewer/Waste and Telecommunications. In addition, readers will get insights from executives of these top firms about the markets and issues affecting the industry around the world. This and other ENR survey issues are used as reference tools throughout the industry. Companies are ranked according to construction revenue generated in 2007 in US$ millions. Main story: "Prices Soar in a Boom Market" Tables - The 2008 Top 225 International Contractors based on Contracting Revenue from Projects Outside Home Country (with description about how to use the tables) - The 2008 Top 225 Global Contractors based on Total Firm Contracting Revenue (with descriptions about how to use the tables) - The 2008 Top 225 At a Glance: Volume, Profitability, Professional Staff, Backlog, Market Analysis, International Regions - Top 10 by Market: Building, Manufacturing, Power, Water, Transportation, Hazardous Waste, Sewer/Waste, Telecommunications - Top 20 Non-US Firms in International Construction Management/Program Management Fees - Top 20 Non-US in Total CM/PM Fees - Top 10 By Region: Middle East, Asia, Africa, Latin America/Caribbean, Europe, U.S., Canada - How the Top 225 International Contractors Shared the 2007 Market - Where to Find The Top 225 International Contractors - Where to Find The Top 225 Global Contractors Web Only Supplements: "Subsidiaries By Rank"-includes in-depth listings of each firm's subsidiaries "Where the 2008 Top 225 Contractors Worked"-lists the countries in which these firms had work or offices during 2007.
    [Show full text]
  • Donas Da Terra. Her-Story on Female Power and Authority in the Zambezi Valley, Mozambique
    ! ECAS 2013 5th European Conference on African Studies African Dynamics in a Multipolar World ©2014 Centro de Estudos Internacionais do Instituto Universitário de Lisboa (ISCTE-IUL) ISBN: 978-989-732-364-5 DONAS DA TERRA. HER-STORY ON FEMALE POWER AND AUTHORITY IN THE ZAMBEZI VALLEY, MOZAMBIQUE Carmeliza Soares da Costa Rosário University of Bergen [email protected] Donas da Terra. her-story on female power and authority in the Zambezi Valley, Mozambique! ! Abstract The Zambezi Valley, in Mozambique has been considered a sociological construct, more than geographical space. Portuguese colonial rule over this area, enacted initially from Goa, instituted the prazo system which was a system by which Crown land was leased to settlers for a fixed period. To attract more settlers, some prazos were given as dowry to girls who married Portuguese vassals; to be inherited through the female line, for at least three generations. These women became known as the Donas. Indigenous women in the region were also reportedly powerful and had administrative authority. Among the Maravi, the wife of the karonga had jurisdiction over part of the territory. Female chiefs were also reported to have existed. Among the Shona, the wives of the mutapa had their own territory and at times served as ambassadors of the empire. Despite their notoriety, historical texts mention these women marginally or as surrogates to male dominance. This is not a coincidence, but stems from a male perception of female roles. By constructing a text which generally ignores women’s role in history or relegates it to a secondary plane by comparison to their male counterparts, historians may have not made justice to the social, political and economic structures and inner workings of the Zambezi Valley complex, to borrow Mathews (1981) term.
    [Show full text]
  • Mota-Engil M&A Report 03.01.10
    A Work Project, presented as part of requirements for the Award of a Masters Degree in Finance from the Faculdade de Economia da Universidade Nova de Lisboa M&A Field Lab Mota-Engil Fábio Araújo Michelli, Master in Finance, #160 A Project carried out on the Master in Finance, with the supervision of: Rosário André 06.01.2010 Mota-Engil M&A Proposal Index Executive Summary ............................................................................................................................. 3 Mota-Engil Overview ............................................................................................................................ 4 Business Portfolio ............................................................................................................................ 4 Strategic Plan ................................................................................................................................... 6 Financial Position ........................................................................................................................... 10 Industry Analysis ................................................................................................................................ 11 Construction ................................................................................................................................... 11 Environment & Services ................................................................................................................ 13 Water & Sewage ......................................................................................................................
    [Show full text]
  • Global Construction Sourcebook December, 2006
    Global Construction Sourcebook December, 2006 This annual edition provides editorial overviews, outlooks and rankings of the Top International Contractors and Design Firms in 7 regional markets and market analyses in 8 major industry sectors. This Sourcebook also ranks general contractors and design firms in approximately 50 specific project types such as healthcare, highways and pharmaceuticals. Plus, this publication includes photographs and the Directory of Contractors and Design Firms, a country-by-country listing containing the address, name of the president or CEO, and telephone number of each of the Top International Contractors and Design Firms. CONTENTS TABLES: The Top 200 International Design Firms The Top 150 Global Design Firms The Top 225 International Contractors The Top 225 Global Contractors The 2006 Top 225 International Contractors at a Glance The 2006 Top 200 International Design Firms at a Glance Directory of Contractors and Design Firms FEATURE: General Building Transportation Manufacturing/Industrial Process Petroleum Power Environmental Telecommunications Editorial Overview By Gary J. Tulacz and Peter Reina Global Markets Surge On Amid War, High Oil Prices The Top Prosperity is expanding the borders of the world construction market. The North American market boom has 225225 been well documented, but the Mid- dle East now is growing despite re- International gional tensions, thanks to the upswing Contractors in oil prices. Asia has been holding steady at a high level of activ- management,” says Kev- P The ity. The huge European market, which largely has been static, in Thompson, CEO. Top 200 is showing signs of recovery, led by eastern European work. And He says that the Latin America also is stirring, thanks to rising prices for copper skills and innov- International and other commodities, which has mining work flourishing.
    [Show full text]
  • Intertwined Paths: Portugal and Rising Angola
    OCCASIONAL PAPER NO 89 South African Foreign Policy and African Drivers Programme August 2011 Intertwined Paths: Portugal and Rising Angola Pedro Seabra & Paulo Gorjão s ir a f f A l a n o ti a rn e nt f I o te tu sti n In rica . th Af hts Sou sig al in Glob African perspectives. About SAIIA The South African Institute of International Affairs (SAIIA) has a long and proud record as South Africa’s premier research institute on international issues. It is an independent, non-government think-tank whose key strategic objectives are to make effective input into public policy, and to encourage wider and more informed debate on international affairs with particular emphasis on African issues and concerns. It is both a centre for research excellence and a home for stimulating public engagement. SAIIA’s occasional papers present topical, incisive analyses, offering a variety of perspectives on key policy issues in Africa and beyond. Core public policy research themes covered by SAIIA include good governance and democracy; economic policymaking; international security and peace; and new global challenges such as food security, global governance reform and the environment. Please consult our website www.saiia.org.za for further information about SAIIA’s work. A b o u t t h e S o u t h A f r I c A n f o r e I g n p o l I c y A n d A f r I c A n d r I v e r S p r o g r A m m e Since the fall of apartheid in 1994, South Africa’s foreign policy has prioritised the development of Africa.
    [Show full text]
  • Acknowledgments
    206 DOING BUSINESS IN THE ARAB WORLD 2010 Acknowledgments Doing Business 2011 was prepared by a The Doing Business team is grateful for team led by Sylvia Solf, Penelope Brook valuable comments provided by col- (through May 2010) and Neil Gregory (from leagues across the World Bank Group June 2010) under the general direction and for the guidance of World Bank of Janamitra Devan. The team comprised Group Executive Directors. Svetlana Bagaudinova, Jose Becerra Marta, Karim O. Belayachi, Frederic Bustelo, César Oliver Hart and Andrei Shleifer provided Chaparro Yedro, Maya Choueiri, Santiago academic advice on the project. The pay- Croci Downes, Karen Sarah Cuttaree, Marie ing taxes project was conducted in collab- Contact details for local partners Delion, Allen Dennis, Jacqueline den Otter, oration with PricewaterhouseCoopers, led are available on the Doing Raian Divanbeigi, Alejandro Espinosa- by Robert Morris. The development of the Business website at Wang, Antonio Garcia Cueto, Carolin getting electricity indicators was financed Geginat, Cemile Hacibeyoglu, Betina by the Norwegian Trust Fund. http://www.doingbusiness.org Hennig, Sabine Hertveldt, Mikiko Imai Ollison, Ludmila Januan, Nan Jiang, Palarp Alison Strong copyedited the manuscript. Jumpasut, Dahlia Khalifa, Eugenia Levine, Gerry Quinn designed the report and Jean Michel Lobet, Valerie Marechal, the graphs. Alexandra Quinn and Karen Andres Martinez, Frederic Meunier, Jackson provided desktopping services. Alexandra Mincu, Robert Murillo, Joanna Nasr, Titilayo Oke, Oleksandr Olshanskyy, The report was made possible by the gen- Dana Omran, Caroline Otonglo, Yara Salem, erous contributions of more than 8,200 Pilar Salgado-Otónel, Jayashree Srinivasan, lawyers, accountants, judges, business- Susanne Szymanski, Tea Trumbic, Marina people and public officials in 183 econo- Turlakova and Lior Ziv.
    [Show full text]
  • General Assembly Distr.: General 25 October 2012
    United Nations A/C.5/67/INF/1 General Assembly Distr.: General 25 October 2012 English/French only Sixty-seventh session Fifth Committee Membership of the Fifth Committee Membres de la Cinquième Commission NOTE: Delegations are requested to send their corrections to the following list, in writing, to the Secretary of the Committee, Secretariat Building, Room S-3241, fax: 212 963 0360. NOTE: Les délégations sont priées d’envoyer leurs corrections à la présente liste, par écrit, au Secrétaire de la Commission, bureau S-3241, bâtiment du Secrétariat, télécopieur: 212 963 0360. Chair Président Mr. Miguel BERGER (Germany) Vice-Chairs Vice-présidents Mr. João Augusto Costa VARGAS Ms. Anna REICH Mr. Bilal Taher Muhammad WILSON (Brazil) (Hungary) (Saudi Arabia) Rapporteur Mr. Justin KISOKA (United Republic of Tanzania) Secretariat of the Fifth Committee Secrétariat de la Cinquième Commission Secretary Secrétaire Ms. Sharon VAN BUERLE Deputy Secretary Secrétaire Adjoint Mr. Wiryanto SUMITRO 12-56834 (E) 011112 *1256834* A/C.5/67/INF/1 COUNTRY | PAYS REPRESENTATIVE | REPRESENTANT ALTERNATES | SUPPLÉANTS ADVISERS | CONSEILLERS Mr. Zahir TANIN Mr. Seddiqullah HABIBI Afghanistan Mr. Mohammad Qais RAHIMI Albania Mr. Mourad BENMEHIDI Mr. Djamel MOKTEFI Mr. Abdelhakim MIHOUBI Algeria Mr. Mohamed Salah Eddine BELAID Ms. Gemma RADUAN Ms. Laura CONTRERAS Andorra CORRIUS Angola Antigua and Mr. Conrod HUNTE Barbuda Argentina Armenia Mr. Garen NAZARIAN Mr. Nikolay SAHAKOV Mr. Gary Francis QUINLAN Mr. Will NANKERVIS Ms. Phillipa Lucy WALKER Ms. Philippa Jane KING Group Captain Brian James Ms. Carmendy COOPER WALSH Australia Mr. Terry NUNN Mr. Emil STOJANOVSKI Squadron Leader Rodney SRINIVASAN Ms. Maria Angela Ms. Doris PUNDY Austria HOLZMANN Mr.
    [Show full text]
  • International Contractors
    [ FEATURE ] Top 225 Overview By Peter Reina and Gary J. Tulacz LIGHT AT END OF THE TUNNEL? Strabag AG’s 5.2-mile Blessberg high- speed-rail tunnel project in Germany shows how infrastructure jobs counter a THE soft European market. TOP 225 INTERNATIONAL CONTRACTORS The overall global construction The global construction market has taken market continues to be soft as its lumps over the past two years, and many large interna- investment capital is hard to come by, but there are bright tional contractors are scrambling to maintain their size. spots both geographically and However, as the slump grows in duration, a few things are in market sectors becoming clear: The construction recession is not univer- sal, there are regions and market sectors that are doing well, and many international contractors are thriving. OF STRABAG SE PHOTO COURTESY 44 N ENR N August 30, 2010 enr.com The responses to ENR’s Top 225 Inter- THE TOP 225 AT A GLANCE national Contractors survey tell an interest- ing tale. As a group, the ENR Top 225 gen- VOLUME MARKET ANALYSIS erated $383.78 billion in revenue from DOMESTIC INTERNATIONAL TOTAL REVENUE PERCENT projects outside their home countries in $ BIL. % CHG. $ BIL. % CHG. $ BIL. % CHG. TYPE OF WORK $ MIL. OF TOTAL 2009, up 0.4% from $382.44 billion in 2008 REVENUE 621.8 +8.2 383.8 +0.4 1,005.6 +4.2 BUILDING 85,988.3 22.4 (please note, this is a corrected figure from NEW CONTRACTS 766.3 +14.4 484.6 +7.4 1,250.8 +11.6 MANUFACTURING 3,805.6 1.0 INDUSTRIAL 20,601.5 5.4 last year’s published results).
    [Show full text]
  • Mota-Engil: New Prospects of Growth: Overcoming the Financial Crisis
    1 Mota-Engil: New prospects of growth: overcoming the financial crisis A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics. MOTA-ENGIL New prospects of growth: Overcoming the financial crisis Nuno Guilherme Dantas Melim 1428 A Project carried out on the Strategy Area, under the supervision of: Professor Doutor José Álvaro Ferreira da Silva 30th May 2014 1 2 Mota-Engil: New prospects of growth: overcoming the financial crisis Abstract The 2008 global financial crisis caused the collapse of business key sectors, declines in consumer wealth and a fall in economic activity resulting in a global recession. In some European countries, the 2008 crisis contributed to a sovereign-debt crisis which had a strong impact in Southern European countries. The construction sector was particularly affected, with budget cuts disturbing public investment and no financing available for private constructors. This report intends to explain how Mota-Engil, faced this situation of low growth, and which strategies were adopted by the management to overcome the difficult economic conjecture, mainly in its domestic market: Portugal. The report is organized as a case-study. The first part, the case narrative, is sub- divided into 6 parts, and the second part is the teaching note. The teaching note is constituted by the four questions and their respective responses. Keywords: Construction, Mota-Engil, Financial crisis, diversification, internationalization 2 3 Mota-Engil: New prospects of growth: overcoming the financial crisis I. Case Narrative 1. A family firm over 7 decades Mota-Engil (ME) is a Portuguese multinational company with presence in Europe, Africa and Latin America.
    [Show full text]
  • Report & Accounts
    Grupo Soares da Costa, SGPS, SA REPORT & ACCOUNTS 2013 REPORT & ACCOUNTS 2013 ◊ GRUPO SOARES DA COSTA, SGPS, SA INDEX MESSAGE from the Chairman of the Board of Directors and Chairman of the Executive Committee 4 I MANAGEMENT REPORT Highlights 7 Introduction 8 1. The Soares da Costa Group 1.1 Profile 9 1.2 Strategy 14 2. Business Overview 15 3. Relevant Facts for the Year 20 4. Consolidated Business Analysis 22 5. Performance By Business Area 5.1 Construction 25 5.2 Concession 33 5.3 Real Estate 42 5.4 Self Energy 42 6. Individual Accounts 44 7. Human Resources 44 8. Main Risks and Uncertainties 46 9. Soares da Costa and the Stock Exchange 49 10. Order Backlog and Outlook 51 11. Subsequent Facts 55 12. Proposal for the Application of Profits 56 13. Declaration of Compliance 56 14. Final Note of Thanks 57 2 ◊ REPORT & ACCOUNTS 2013 ◊ GRUPO SOARES DA COSTA, SGPS, SA II ANNEXES TO THE MANAGEMENT REPORT 1. Shareholdings and Transactions of Members of the Corporate Bodies and of Officers 59 2. List of Owners of Qualified Shareholdings 59 3. Corporate Governance Report 60 4. Corporate Social Responsibility Report 84 III INDIVIDUAL FINANCIAL STATEMENTS AND EXPLANATORY NOTES 101 IV CONSOLIDATED FINANCIAL STATEMENTS AND EXPLANATORY NOTES 137 V CERTIFICATIONS AND OPINIONS 237 3 ◊ REPORT & ACCOUNTS 2013 ◊ GRUPO SOARES DA COSTA, SGPS, SA MESSAGE from the CHAIRMAN OF THE BOARD OF Directors and CHAIRMAN OF THE Executive COMMITTEE The year 2013 marked a very significant milestone for the Soares da Costa Group. The very difficult financial situation of the Group, which became more acute in 2012 and 2013 due to the drastic fall in the domestic construction market, meant that an action plan had to be defined to launch its recovery.
    [Show full text]
  • Strategic Plan 2010-14 Presentation Contents
    STRATEGIC PLAN 2010-14 PRESENTATION CONTENTS Why a new Strategic Plan?... New Context, New Challenges, Ambitious Answers Wrap-up Q&A 2 STRATEGIC PLAN 2010-14 PRESENTATION WHY A NEW STRATEGIC PLAN?... … because Soares da Costa has moved forward… • Since the presentation of 2007-12 “Sustainable Ambition” plan, SDC’s profile has changed significantly, with a considerable investment in the transport concessions business and becoming increasingly more international, entering in new markets • We would highlight some details of the 2007-12 strategic plan: With the domestic market with On geographical diversification: “Three core markets with a gloomier than ever prospects, physical presence founded on construction – Portugal, now is the time for choosing a Angola and the USA (Florida) – complemented by a new new platform platform for growth to be selected in the next few years” Still makes some sense the On the concession business: “Prepare the ground for diversification, although the deep diversification/deepening of concessions from 2010 onwards, changes in the financial markets developing competences in: infrastructure management lead to the need of a new model services – motorways / buildings, renewable energy sources” of investment/ partnerships On dividend policy: “(...) will enable dividends distribution Which has been achieved in spite from 2009 onwards” of the investment programme 3 STRATEGIC PLAN 2010-14 PRESENTATION WHY A NEW STRATEGIC PLAN?... … because Soares da Costa has moved forward… • SDC has experienced a significant growth, both in terms of turnover and EBITDA TURNOVER EBITDA CAGR CAGR 14.0%% 18.9%% 936 86 90 835 57 25.6% 8.2% 54 53 55 554 562 551 570 45 529 CONSTRUCTION 37 22 36 322 & OTHERS OTHERS 416 367 1) 1) 1) 33 35 11.1% 27.6% CONCESSIONS 23 18 20 305 366 ANGOLA 195 228 138 20051) 20061) 20071) 2008 2009 2005 2006 2007 2008 2009 EBITDA MG 4% 6% 7% 10% 9% EBITDA MG 90% 83% 80% 69% 62% CONCESSIONS 1) Equivalent integration of 20% of Scutvias 4 STRATEGIC PLAN 2010-14 PRESENTATION WHY A NEW STRATEGIC PLAN?..
    [Show full text]
  • Soares Da Costa Construção, Sgps, Sa
    SOARES DA COSTA CONSTRUÇÃO, SGPS, SA Apresentação Institucional 7.1.2015 SOARES DA COSTA CONSTRUÇÃO ÍNDICE PERFIL 3 ATIVIDADE 4 EXPERIÊNCIA E HISTÓRIA 9 MULTINACIONAL 11 DIMENSÃO 12 CAPITAL HUMANO 14 CONTACTOS 16 ANEXO: PORTFÓLIO SOARES DA COSTA 17 APRESENTAÇÃO INSTITUCIONAL 2 SOARES DA COSTA CONSTRUÇÃO PERFIL Construção civil, infraestruturas ATIVIDADE e engenharia EXPERIÊNCIA & DIMENSÃO HISTÓRIA Mais de 90 anos de Mais de 600 milhões de atividade Euros de carteira de encomendas CAPITAL MULTINACIONAL HUMANO Vários mercados core: Angola, Cerca de 3.785 colaboradores, 57% Portugal, Moçambique e Brasil dos quais em Angola APRESENTAÇÃO INSTITUCIONAL 3 SOARES DA COSTA CONSTRUÇÃO ATIVIDADE . O que fazemos? - Construção civil: edifícios de habitação, escritórios, hotelaria e turismo, restauro e remodelação de edifícios - Infraestruturas: educação, cultura e desporto, industriais, saúde e assistência, aeroportos, estradas, autoestradas, viadutos e pontes, túneis, ferroviárias, hidráulicas, ambientais e outras infraestruturas urbanas - Instalações técnicas: eletricidade, telecomunicações, gestão técnica, aquecimento, ventilação, ar condicionado, hidráulica, tratamento de águas, conceção, fabrico e montagem de estruturas metálicas . Onde estamos? - A empresa opera em vários mercados que considera core, como Portugal (continental e ilhas), Angola, Moçambique, Brasil, e noutros não core, como Roménia, S. Tomé & Príncipe, Omã e Suazilândia APRESENTAÇÃO INSTITUCIONAL 4 SOARES DA COSTA CONSTRUÇÃO ATIVIDADE . Principais Subsidiárias: Sociedade de Construções Soares da Costa, SA CLEAR Angola – Instalações Electromecânicas, Lda CLEAR - Instalações Electromecânicas, SA Soares da Costa Moçambique, SARL Somafel - Engenharia e Obras Ferrovárias, SA OFM - Obras Públicas, Ferroviárias e Marítimas, SA APRESENTAÇÃO INSTITUCIONAL 5 SOARES DA COSTA CONSTRUÇÃO ATIVIDADE . Organigrama (resumido) Soares da Costa Construção SGPS, SA 100% Sociedade de Construções Soares da Costa, SA 1% 99% Soares da Costa Brasil, Ltda 100% 95% Clear Clear Angola 100% Soares da Costa S.
    [Show full text]