TABLE of CONTENTS Interim Report - 3Rd Quarter of 2017
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TABLE OF CONTENTS Interim Report - 3rd Quarter of 2017 TABLE OF CONTENTS 1. Identification of the company 2. Summary of the Indicators 3. Teixeira Duarte Group – 3rd quarter of 2017 4. Interim Management Report I. Introduction II. Global Appraisal of the Activity III. Events that occurred after the end of the 3rd quarter of 2017 IV. Outlook for 2017 5. Consolidated Financial Statements I. Consolidated statements of financial position II. Consolidated Statements of Results for the Period III. Consolidated Statement of Results and Other Integrated Income IV. Consolidated statements of changes in equity V. Consolidated statements of cash flows VI. Annexes to the Consolidated Financial Statements 2 Interim Report - 3rd Quarter of 2017 Teixeira Duarte, S.A. LISTED COMPANY Head Office: Lagoas Park, Edifício 2 - 2740-265 Porto Salvo Share capital: € 210.000.000 Single Legal Person and Registration number 509234526 at Cascais Commercial Register (Oeiras) 3 Interim Report - 3rd Quarter of 2017 SUMMARY OF THE INDICATORS 3rd 3rd 3rd 3rd 3rd Variation 2013 2014 2015 2016 2017 2017/2016 % Average number of workers 11,989 13,165 13,691 11,534 10,618 (7.9%) Turnover 1,119 1,175 1,005 828 739 (10.7%) Operating income 1,147 1,188 1,038 863 771 (10.7%) EBITDA 149 165 125 150 123 (18.0%) EBITDA / Turnover 13.3% 14.0% 12.5% 18.1% 16.6% -1,5 p.p. EBIT 95133679984(15.6%) Net Income Attributable to Shareholders 10 71 17 (26) (11) 57.9% Net Debt 1,202 1,293 1,253 1,166 1,085 (7.0%) Net income attributable to shareholders 263 424 459 345 364 5.4% Equity total 299 461 480 390 412 5.5% Total of net asset 2,692 2,987 2,819 2,477 2,427 (2.0%) Notes: The book values are expressed in million euros. The figures in the "Variation 2017/2016 %" column were calculated based on amounts that were not rounded o. Total Equity includes non-controlling interests. 4 GRUPOTEIXEIRA TEIXEIRA DUARTE DUARTE GROUP - -3º 3 rdTrimestre Quarter 20172017 TEIXEIRA DUARTE, S.A. 100 100 TEIXEIRA DUARTE - ENGENHARIA E CONSTRUÇÕES, S.A. TEIXEIRA DUARTE, G.P.I.I., S.A. CONCESSIONS CONSTRUCTIONCONSTRUÇÃO CONCESSÕES E SERVIÇOS IMOBILIÁRIAREAL ESTATE HOSPITALITYHOTELARIA DISTRIBUTIONDISTRIBUIÇÃO AUTOMÓVELAUTOMOTIVE PARTICIPAÇÕESFINANCIAL HOLDINGSFINANCEIRAS AND SERVICES 100 IMOTD, SGPS, S.A. 100 TDH, SGPS, S.A. 100 TEDAL, SGPS, S.A. 40 26.826,8 100 100 100 100 100 100 100 Portugal CONSTRUSALAMONDE, ACE 52.552,5 METROLIGEIRO, ACE DPLG, LDA. BONAPARTE, S.A. FUNDO INVEST. IMOB. FECHADO TDF ESTA, S.A. BONAPAPEL, LDA. SMOTORS, S.A. C+P.A., S.A. 0.010,01 100 25 51 100 100 100 100 100 EPOS, S.A. NOVA ESTAÇÃO, ACE MARINERTES, S.A. TDF, S.A. IMOPEDROUÇOS, S.A. GO CORP TRAVEL SOLUTIONS, S.A. TD DISTRIBUIÇÃO, S.A. TEDAL III, S.A. 0.0360,036 BCP, S.A. 0.0030,003 60 100 100 100 100 100 SOMAFEL, S.A. 67.7467,74 SOMAFEL E FERROVIAS, ACE 100 RECOLTE, S.A.U. (SUC.PORTUGAL) TRANSBRITAL, S.A. MALANGA, LDA. LAGOAS HOTEL, S.A. TEDAL - PARTICIP. DISTRIB., S.A. TEDAL IV, S.A. EIA, S.A. 5.665,66 57.357,3 100 40 7.687,68 AVIAS, ACE 23.523,5 TD/SOPOL - METRO SUP., ACE 100 RECOLTE (AÇORES), LDA. TDVIA, S.A. 93.7593,75 QUINTA DE CRAVEL, S.A. LAGOASFUT, S.A. 100 TEDAL II, S.A. 100 AVIA PORTUGAL, S.A. JÚPITER, S.A. 50 100 100 CAIS DE CRUZEIROS 2ª FASE, ACE 25 TRÊS PONTO DOIS, ACE TDAP, S.A. 100 LAGOAS PARK, S.A. TDE, S.A. SINERAMA, S.A. 100 2525 100 100 100 100 CONBATE, ACE 20 CINTEL, LDA. TDGI, S.A. TDHOSP, S.A. V8, S.A. TDHC, S.A. DOURO LITORAL, ACE 40 90 TDGI MANUTENÇÃO, ACE 10 ILTA, S.A. 5 DOURO LITORAL OBRAS ESPEC., ACE 40 AEBT, S.A. 9 INOVA.GAIA 5 FERROVIAL/TD, ACE 50 AEDL, S.A. 0.020,02 LUSOPONTE, S.A. 7.57,5 MTS, S.A. 9.119,11 100 100 76 85 15 100 100 100 100 OtherOutros Markets Mercados EPOS, S.A. (SUC. ESPANHA) SOMAFEL, S.A. (SUC. REINO UNIDO) RECOLTE, S.A.U. TDPG, LTDA. 24 TDSP - PARTICIPAÇÕES, LTDA. TDD DISTRIBUIÇÃO BRASIL, LTDA. TDO, S.A. TDO - SGPS, S.A. 30 100 100 40 100 100 100 TD-EC, S.A. (SUC. ESPANHA) EMPA, S.A. TDGI, S.A. (BÉLGICA) 30 TDSP - 16, LTDA. TDSP - 17, LTDA. TD INTERNATIONAL, LTD. LEVENEL, LTD. 100 70 92.6592,65 36 99.9999,99 100 92.6592,65 UTE VIANA 30 SOMAFEL, LTDA. GONGOJI ENERGIA, S.A. TDSP - ALTA VISTA I, LTDA. TDSP - ALTA VISTA II, LTDA. INVESTIPART, S.A. 70 92.6592,65 TD-EC, S.A. (SUC. BRASIL) 100 99.9499,94 TD, ALGÉRIE, S PA MMK CEMENT TDSP - ALTA VISTA III, LTDA. 92.6592,65 TDSP - ALTA VISTA IV, LTDA. 43.2143,21 ALVORADA PETRÓLEO, S.A. 80 20 100 92.6592,65 2.392,39 SOMAFEL, S.A. (SUC. BRASIL) 100 TD COMPLEXE AGB-EL BIAR PAREDÃO DE MINAS, ENERGIA, S.A. TDSP - BACEUNAS, LTDA. 100 TDSP - BELA VISTA, LTDA. COLT RESOURCES INC. 45 92.5092,50 SOMAFEL, S.A. (SUC. FRANÇA) 100 ALSOMA, GEIE TABOQUINHA ENERGIA, S.A. 100 TDSP - DIR. HUMANOS, LTDA. 92.6592,65 TDSP - DIONISIO DA COSTA, LTDA. 2.572,57 EUR AVIA, AG 40 61 92.6592,65 55 SOMAFEL, S.A. (SUC. MARROCOS) 100 ETRHB/TD, AE RPK GULFSTREAM, LTD. TDSP - ELISA MORAES, LTDA. 90 TDSP - GALENO DE CASTRO, LTDA. VOTORANTIM MACAU INV., S.A. 100 100 TD-EC, S.A. - ESTAB. EST. ARGÉLIA 28 GMP - ORAN, AE TDSP - GILBERTO SABINO, LTDA.A. 100 TDSP - GUALAXOS, LTDA. 100 95 OFM, S.A. - ESTAB. EST. ARGÉLIA 35 GOTERA, AE TDSP - MARATONA, LTDA. 92.6592,65 TDSP - MARIA DE JESUS, LTDA. 100 50 100 SOMAFEL, S.A. - ESTAB. EST. ARGÉLIA TD/ETRHB, AE TDSP - NILO, LTDA. 100 TDSP - VERUM MOOCA, LTDA 100 68.8568,85 95 92.5092,50 SOMAFEL, S.A. - ESTAB. EST. TUNÍSIA TD/KANAGHAZ, AE TDSP - VOLTA REDONDA, LTDA TDSP - ZANZIBAR, LTDA. 50 TD-EC, S.A. (SUC. ANGOLA) 100 AK10, LTDA. EPOS, S.A. (SUC. ANGOLA) 100 95 95 75 100 60 40 51 75 25 EPOS, S.A. (SUC. PERU) EDUCARE, LDA. AFRIMO, LDA. ANGOPREDIAL, LDA. 5 5 ALVALADE, LDA. COM 1, LDA. 25 AUTO 1, LDA. 6 80 90 20 100 90 80 20 10 TD PERÚ - ING. Y CONST., S.A.C. 20 TDGI, LDA. (ANGOLA) TD - ANGOLA, LDA. IMOAFRO, LDA. 10 ANGOIMO, LDA. CND, LDA. 90 AUTO 8, LDA. 4 80 50 100 75 IMO 1, LDA. 50 97.4597,45 DCG, LDA. 2.552,55 30 OFM, S.A. (SUC. CABO VERDE) 25 HOTEL BAÍA, LDA. 70 AUTO COMPETIÇÃO ANGOLA, LDA. 100 49 100 100 75 TD-EC, S.A. (DEL. MOÇAMBIQUE) TD - MOÇAMBIQUE, LDA. 80 TDGI, LDA. (MOÇAMBIQUE) IMOPAR, S.A. HOTEL TRÓPICO, S.A. 80 GLOBAL NET DISTRIB. (PTY) LTD 25 COMÉRCIO DE AUTOMÓVEIS, LDA. 100 51 20 49.9249,92 80 SOMAFEL, S.A.(DEL. MOÇAMBIQUE) IMOC, S.A. OCC, LDA. 100 GND TRADING , ME FZE 100 19 20 15 25 80 TD-EC, S.A. (SUC. VENEZUELA) 80 TD-EC - MACAU, LDA. C. PARQUES MACAU, S.A. PROM. INMOB. 3003, CA 75 AVENIDA, LDA. 20 TDA, LDA. 25 57.257,2 100 5.85,8 80 20 51 CONSÓRCIO BOYACÁ - LA GUAIRA EPOS, S.A. (SUC. VENEZUELA) MATADOURO MACAU, S.A. TEDEVEN INMOB., CA 75 TIVOLI BEIRA, LDA. VAUCO, LDA. 100 65 EPOS, S.A. (SUC. COLÔMBIA) 100 TEGAVEN, CA TDRE INVESTMENTS, LLC SOC. HOTEL TIVOLI, LDA. 100 49 49 100 TD-EC, S.A. (SUC. COLÔMBIA) ADOQUINVAR, CA TDGISERV SERVICES, LLC TDRE LEE PARK, LLC 100 100 100 TD-EC (COLÔMBIA), S.A.S. 49 CONLUVAR, CA TDRE HOOD, LLC 100 TD CONSTRUCTION SERVICES, LLC 51 CONSÓRCIO OPSUT Legenda:Caption: EMPRESASCOMPANIES INCLUÍDAS INCLUDED NA IN THECONSOLIDAÇÃO CONSOLIDATION EMPRESASCOMPANIES INCLUÍDAS INCLUDED NA IN THECONSOLIDAÇÃO CONSOLIDATION POR EQUIVALÊNCIAUSING THE EQUITY PATRIMONIAL METHOD EMPRESASCOMPANIES EXCLUÍDAS EXCLUDED DA FROM CONSOLIDAÇÃO CONSOLIDATION XX ValoresValues as em % % Share de Capital Capital Interim Report - 3rd Quarter of 2017 6 Interim Report - 3rd Quarter of 2017 I - INTRODUCTION Under the terms of, and for the purposes of applicable legal and regulatory provisions TEIXEIRA DUARTE, S.A (“TD, S.A.”) hereby discloses the Interim Report referring to the first nine months of 2017, of which the attached consolidated financial statements also form a part. Pursuant to, and under periodic reporting standards, it is hereby clarified that the elements disclosed herein only refer to the consolidated scope, and that the consolidated financial statements at 30 September, 2017 have been prepared using accounting policies consistent with International Financial Reporting Standards (“IFRS”), as adopted by the European Union, in effect for periods beginning on 1 January, 2017, and in accordance with IAS 34 - Interim Financial Reporting. Under the scope of the Teixeira Duarte Group, it should be mentioned that due to the fact that one of the 100% owned companies (“TDHOSP - Gestão de Edifício Hospitalar S.A.”) has been repositioned from the “Concessions and Services” sector to the “Real Estate” sector, it was deemed appropriate to re-express the 2016 indicators - only in relation to these two sectors - to safeguard the comparability of the figures set out in the tables and graphics contained in this document and its annexes. Notwithstanding the regular monitoring of Teixeira Duarte Group by its Oversight Bodies, as well as through the information report provided to you for the purpose of drafting this document, the elements published herein have not, under the applicable provisions, been audited.