Teixeira Duarte I Report and Accounts 2020 Teixeira Duarte I Report and Accounts 2020 Teixeira Duarte I Report and Accounts 2020 Teixeira Duarte I Report and Accounts 2020 2020 REPORT & FINANCIAL STATEMENTS Teixeira Duarte I Report and Accounts 2020 Teixeira Duarte I Report and Accounts 2020 INDEX H COMPANY IDENTITY AND CERTIFICATIONS .............................................................................................................. 5 SOCIAL BODIES ............................................................................................................................................................ 6 BOARD OF DIRECTORS’ MANAGEMENT REPORT ..................................................................................................... 7 I. INTRODUCTION .............................................................................................................................................. 8 PROFILE ................................................................................................................................................................... 9 1. INTRODUCTION AND HISTORY ................................................................................................................ 9 2. MISSION AND VALUES ............................................................................................................................ 10 3. ETHICS AND CONDUCT CODE AND COMPLIANCE SYSTEM ............................................................... 10 4. ORGANIZATION ....................................................................................................................................... 11 II. ACTIVITY IN 2020 .......................................................................................................................................... 12 1. KEY INDICATORS .................................................................................................................................... 12 2. FINANCIAL ASSESSMENT OF 2020 ACTIVITY ....................................................................................... 12 3. OPERATIONAL ASSESSMENT - INTRODUCTION .................................................................................. 17 4. OPERATIONAL ASSESSMENT - CONSTRUCTION ................................................................................. 19 5. OPERATIONAL ASSESSMENT - CONCESSIONS AND SERVICES ........................................................ 33 III. NON-FINANCIAL INFORMATION .................................................................................................................. 35 IV. CORPORATE FACTS .................................................................................................................................... 52 V. PROSPECTS OF FUTURE DEVELOPMENT ................................................................................................. 53 VI. LEGAL INFORMATION .................................................................................................................................. 53 VII. PROPOSAL FOR THE APPROPRIATION OF PROFITS ............................................................................... 54 FINANCIAL STATEMENTS .......................................................................................................................................... 55 I. BALANCE SHEET .......................................................................................................................................... 56 II. INCOME STATEMENT BY ACTIVITY ............................................................................................................ 57 III. STATEMENT OF CHANGES IN EQUITY ....................................................................................................... 58 IV. CASH FLOW STATEMENT ............................................................................................................................ 59 V. APPENDIX ..................................................................................................................................................... 60 1. INTRODUCTORY NOTE ........................................................................................................................... 60 2. ACCOUNTING BENCHMARK ................................................................................................................... 60 3. MAIN ACCOUNTING POLICIES ............................................................................................................... 64 4. CASH FLOW ............................................................................................................................................. 73 5. RELATED PARTIES .................................................................................................................................. 74 6. INTANGIBLE ASSETS .............................................................................................................................. 79 Teixeira Duarte I Report and Accounts 2020 7. TANGIBLE FIXED ASSETS ...................................................................................................................... 80 8. INVESTMENT PROPERTIES .................................................................................................................... 81 9. ASSETS IMPAIRMENT LOSSES .............................................................................................................. 82 10. GOODWILL ............................................................................................................................................... 83 11. FINANCIAL HOLDINGS - EQUITY METHOD ............................................................................................ 83 12. GAINS/LOSSES ATTRIBUTABLE TO SUBSIDIARIES AND JOINT VENTURES ...................................... 87 13. INVENTORIES .......................................................................................................................................... 88 14. CONSTRUCTION AGREEMENTS ............................................................................................................ 88 15. REVENUE ................................................................................................................................................. 88 16. PROVISIONS ............................................................................................................................................ 89 17. CONTINGENT LIABILITIES ...................................................................................................................... 90 18. EFFECT OF EXCHANGE RATE CHANGES ............................................................................................. 91 19. INCOME TAX ............................................................................................................................................ 91 20. FINANCIAL INSTRUMENTS ..................................................................................................................... 95 21. GUARANTEES AND COMMITMENTS .................................................................................................... 100 22. FINANCIAL RESULTS ............................................................................................................................ 102 23. EMPLOYEE BENEFITS .......................................................................................................................... 103 24. EXTERNAL SUPPLIES AND SERVICES ................................................................................................ 103 25. OTHER INCOME ..................................................................................................................................... 104 26. OTHER EXPENSES ................................................................................................................................ 104 27. FINANCIAL RISK MANAGEMENT .......................................................................................................... 105 28. CAPITAL ................................................................................................................................................. 107 29. OTHER INFORMATION .......................................................................................................................... 108 30. EVENTS AFTER THE BALANCE SHEET DATE ..................................................................................... 109 REPORT AND OPINION OF THE SOLE SUPERVISOR AND LEGAL CERTIFICATION OF ACCOUNTS 2020..........110 Teixeira Duarte I Report and Accounts 2020 COMPANY IDENTITY AND CERTIFICATIONS 1. Company Identity TEIXEIRA DUARTE - ENGINEERING AND CONSTRUCTION, S.A. Headquarters: Lagoas Park, Edifício 2 – 2740-265 Porto Salvo Share Capital: € 280,000,000 Tax Identification and Cascais (Oeiras) Commercial Registry number 500 097 488 Holder of Building Permit No. 24 - PUB 2. Certifications Teixeira Duarte – Engenharia e Construções, S.A., based on ISO 45001, ISO 9001, ISO 14001 and SA 8000 standards, implemented Management Systems, respectively, in the areas of Safety, Hygiene and Health at Work, Quality, Environment and Social Responsibility, certified by the Bureau Veritas Certification, covering the areas of "Civil, Industrial and Public Works, including Foundation Technology". Teixeira Duarte I Report and Accounts 2020 5 SOCIAL BODIES Teixeira Duarte – Engenharia e Construções, S.A. General Assembly President: - Pedro Maria Calainho