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Annual Report 2016.Pdf 16 17 Index 01 EDP Company Presentation 12 Recognition 24 02 Strategic Approach Business Framework 31 Strategic Agenda 48 Goals and Targets 52 Risk Management 53 03 Performance Material Themes of the Year 63 Financial Sustainability 65 Activities 74 Ethics 85 Innovation 91 Environment 95 Stakeholders 106 Complementary Indicators 135 04 Corporate Governance 145 05 Financial Statements 263 06 Annexes 425 16 17 18 19 EDP in Numbers Gross Operating Profit Net Profit 1 28% 28% 28% 27% 0,29 0,28 0,25 0,26 3.924 1.040 1.005 3.759 961 3.642 3.598 913 4 2013 2014 2015 2016 2013 2014 2015 2016 Gross Operating Profit (€M) Net Profit (€M) Earnings per share (euro) OPEX/Gross Profit (%) 4 Net Investments 2 Net Debt3 63% 63% 4,0 4,0 62% 3,8 4,0 38% 2.234 17.380 17.083 17.042 1.794 1.735 1.212 15.923 2013 2014 2015 2016 2013 2014 2015 2016 Net Investments (€M) 6 Net Debt (€M) Adjusted Net Debt /GOP (x) Net Investments in Renewables (%) 5 7 EDP Sustainability Index Economic Value Generated (€M) 17.509 17.672 17.278 15.900 1.956 2.299 2.115 114 1.349 110 106 105 104 101 93 92 15.553 15.373 15.163 14.551 Sustainability Economic Environmental Social Dimension 2013 2014 2015 2016 Index Dimension Dimension 8 9 Economic Value Distributed Economic Value Accumulated 2016 2015 Base 100 1 Net Profit attributable to EDP Equity holders. 2 From 2016, considers Capex (excluding REPSOL assets aquisition), organic Financial Investments and Divestments (“Asset Rotation”) including granted and/or sold shareholder loans. 3 Includes Financial Debt, Cash and Equivalents, Short-term financial assets at fair-value, net investment and fair value hedge and collateral deposits associated to financial debt and 50% of the amount related with the emission of subordinated debt instrument (hybrid). 4 (Supplies and Services + Personnel Costs and Employee Benefits – Curtailment) / (Gross Profit + Income arising from Institutional Partnerships). 5 Includes Net Investments from hydro, wind and solar generation. 6 Net Debt adjusted by amounts receivable from tariff adjustments and amounts receivable through the CMEC revisibility calculation 7 Generated Economic Value (GEV): Turnover + Other Operating Income + gains/losses with the sale of financial assets + financial income + share of profit in associates. 8 Distributed Economic Value (DEV): Cost of Sales + Operating Expenses + Other Operating Expenes + Current Tax + Financial Expenses + Dividend Payment 9 Accumulated Economic Value: GEV – DEV. 16 ANNUAL REPORT EDP 2016 Electricity Generation Electricity Generation Installed Capacity (MW) Net Generation (GWh) 24.364 25.223 22.269 22.469 295 291 357 70.011 368 63.706 9.199 9.969 58.765 60.186 943 7.706 8.067 814 1.684 1.065 24.334 21.237 19.142 19.695 6.700 6.535 7.255 7.016 24.145 16.940 16.910 26.523 7.494 7.510 7.615 7.946 22.515 20.999 15.132 20.589 2013 2014 2015 2016 2013 2014 2015 2016 Hydro Thermal Wind Other Hydro Thermal Wind Other Electricity and Gas Distribution Electricity and Gas Supply 9.780 9.894 10.024 10.121 9.663 9.693 9.712 9.806 71.910 71.147 66.904 78.886 79.428 79.159 78.214 65.319 58.473 53.846 34.843 35.177 31.717 34.001 33.555 23.827 1.324 1.345 1.248 1.350 1.171 1.311 1.405 1.498 2013 2014 2015 2016 2013 2014 2015 2016 Electricity Distributed (GWh) Electricity Supplied (GWh) Gas Distributed (GWh) Gas Supplied (GWh) Electricity Supply Points ('000) Electricity Customers ('000) Gas Supply Points ('000) Gas Customers ('000) 10 CO2 Emitted and Avoided ISO 14001:2004 Certification (%) 340 277 276 271 33.818 100 100 100 100 31.502 32.724 96 93 28.732 90 77 21.518 18.900 16.599 16.522 41 30 32 35 2013 2014 2015 2016 2013 2014 2015 2016 Certified gas distribution Avoided CO2 (kt) Certified maximum net installed capacity Total CO2 Emissions (kt) Certified substations capacity Specific CO2 Global Emissions (g/kWh) 10 In Portugal, the commercial activity is 100% certified, since 2015, by ISO 140001 17 18 ANNUAL REPORT EDP 2016 19 20 ANNUAL REPORT EDP 2016 21 22 ANNUAL REPORT EDP 2016 23 Corporate EDP is in the Euronext VIGEO - World 120, Europe 120 and Eurozone 120 Recognition sustainability indices EDP is recognised by VIGEO as one of the best companies EDP in the 2016 Ethisphere Institute in the world in terms of sustainability. ranking EDP was awarded for the fifth consecutive year as one of EDP is in the STOXX Global ESG Leaders the most ethical companies in the world. EDP is the only and STOXX Sustainability indices Portuguese company, of the 131 companies to feature in These indices produced by STOXX are based on the ESG this international ranking and one of the four electricity research analysis of Sustainalytics (ESG Leaders Indices) utilities globally. and Bank J. Safra Sarasin (STOXX Sustainability Indices). EDP in the European ranking for EDP given Prime Status by OEKOM supporting startups OEKOM, an ESG financial analyst, provides sustainability EDP is ranked 10th in "Europe's 25 Corporate Startup information to financial services companies that manage Stars" ranking, led by the Nesta Innovation Foundation and more than 600 billion euros. the Startup Europe Partnership, a body created by the European Commission to accelerate the globalisation of EDP is a member of the FTSE4GOOD European startups. Global Index The methodology used in the evaluation of more than EDP among the five best energy brands in 4,000 companies is based on a set of around 300 indicators the world grouped into 14 themes across the three ESG pillars EDP was shortlisted for the Charge Energy Branding (Environmental, Social and Governance). Awards, in the Best Energy Brand category. The aim of these awards is to draw attention to the need for a strong EDP is included in the ECPI indices brand in a fast-changing environment, such as the energy ECPI is an analyst and financial services provider that sector. scrutinises companies on the basis of public information, through grouped ESG indicators. EDP distinguished for the promotion of equal opportunities in the workplace EDP is a member of Thomson Reuters CRI EDP was ranked 12th in the first edition of the Thomson Europe ESG Index (TRCRI Europe) Reuters Diversity & Inclusion Index and Ratings (D&I). This Thomson Reuters indices measure the performance of analysis evaluates the performance of 4,200 listed more than 4,600 companies, on the basis of more than 225 companies with regard to respect for diversity in the ESG indicators. The assessment is based on information workplace environment. available in the Thomson Reuters ASSET4 ESG database. EDP is part of the Dow Jones EDP is included in the MSCI ESG Indices Sustainability World Index EDP is included in a set of ESG indices by Morgan Stanley EDP is part of the Dow Jones Sustainability World Index for Capital International, including the World ESG, Europe the 9th year running, ranking among the top 5 electrical ESG, World Low Carbon Leaders and ACWI Low Carbon utilities in the world. Leaders indices. EDP is part of Ethibel EDP is included in the Platts Index EDP is on the Ethibel EXCELLENCE Investment Register and The Group is in 56th position in the Platts Top 250 - Global is included in the "Ethibel Sustainability Index Excellence Energy Company ranking. Europe", for demonstrating an above average performance in its sector in terms of Corporate Social Responsibility. 24 ANNUAL REPORT EDP 2016 EDP in the CDP - Climate Change EDP recognised as a trusted brand by EDP is part of "A List" of the CDP - Climate Change, a Readers Digest Selections ranking that includes companies with the maximum rating EDP was recognised as the most trusted brand in the 16th of A, a status only achieved by 10% of the 2,000 edition of the study by Reader's Digest Selections in the companies evaluated. "Public Utilities" category. The aim of this annual study is to identify the "Trusted Brands" by the Portuguese in 65 EDP in the CDP - Water categories of products and services. EDP is part of the "B List" of the CDP - Water program, which ranks companies according to their water EDP chosen as best company in the management strategy, risk assessment and capitalization Human Resources Awards opportunities in the water domain. EDP is the company in which readers of Human Resources magazine would most like to work. This edition also EDP received the Bronze class distinction awarded Best Chairman/CEO to António Mexia for the fifth in the Sustainability Yearbook of 2016 consecutive year, and first place in the "Mobility" and EDP has been a member of RobecoSAM Sustainability "Internal Communication" categories. Yearbook, since 2007. In 2016, RobecoSAM awarded EDP the Bronze distinction in the Electrical Utilities Industry. EDP recognised by the Marketeer Awards This category groups electric utilities whose score is in the EDP was picked as the best company in the "Energy" range of 5 to 10% of the industry leader score. category for the second consecutive year. It also won the "Art and Culture" category, for the Fundação EDP’s "7 Portugal Billion Others" exhibition. EDP honoured in the Portugal Digital EDP Comercial is honoured in the Green Awards 2016 Project Awards 2015 EDP’s Information Systems Department was awarded a EDP Comercial's Auto-consumption Solar Energy service special mention in the “Best Return on Digital Investment” has been awarded an Honourable Mention in the Green category, in the Jornal de Negócios and IDC Portugal Project Awards 2015 in the "Products and Services" initiative in partnership with Novabase and Vodafone, category.
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