Relatório Financeiro, 2009
Transcrição
Relatório Financeiro, 2009
Index Ferreira Build Power 3 pg 03 Introduction 13 The Group in Other Markets Management Report Domestic Market Foreign Market Future 25 Organization 31 The Numbers 49 Works Section Ferreira Build Power 01 03 1.1Introduction POSIONAMENTO Vision 01 Company Profile 1.1 Introduction Ferreira Build Power Introduction The aim of this document is to show the current situation of Ferreira Build Power, as well as to introduce some technical elements, such as the 2009 Report and Accounts, for the company to apply for prequalification in tendering procedures, both in the domestic and foreign markets. The following notes comply with the Portuguese Official Accountancy Plan, having omitted the items that have no relevance for the company, of which no mention has been made. All the financial information is in euros, except when otherwise specified. 05 Excellency Section Ferreira Build Power 02 07 2.1 The Group in Other Markets 2.2 Domestic Market 2.3 Foreign Market 2.4Future Company Profile 02 2.1 The Group in Other Markets Ferreira Build Power Portugal Poland Brazil Libya 4 Continents 09 Company Profile 02 2.2 Domestic Market Ferreira Build Power Vale Pisão - Nature Resort Overcoming challenges MANAGEMENT REPORT In spite of the difficulties felt by the Portuguese economy, 2009 was a year characterized by our company’s steady growth. The strategic guidelines defined for the domestic and foreign markets had a favourable impact in the company’s performance. Agility 11 Domestic Market The company’s strategy included partnerships with larger firms by means of “Complementary Business Agreements” (ACE – Acordo Complementar de Empresas), which allowed us to participate in tendering procedures that otherwise would have been out of reach. The company signed a Complementary Business Agreement with AM Mesquita, for the PARQUE ESCOLAR procedures and is currently involved in the construction and renovation under way in the schools of Guimarães, Elvas and Portalegre. These projects, worth a total of 46 million euros, are expected to be completed this year. In the ambit of a second CBA with Edinorte SA, we are carrying out the renovation of the Bairro do Cerco school, for a total of 7 million euros. Another CBA was signed with M Couto Alves SA, concerning the TROFA PARK project. This involves the construction of a large industrial development, accounting for an investment of 50 million euros. Regarding the construction of new school buildings commissioned by local administrations, we are currently working in Régua (Centro Escolar de Godim and Centro Escolar de Peso da Régua), Resende (Centro Escolar de Resende), Paredes (Escola EB1), Ponte da Barca and Alijó. Of the high number of projects in which the company has participated, the following two are worth pointing out – the first for the singularity of the intervention and the second due to the participation of the Group (Efimóveis): the renovation and enlargement of Adega Quinta do Valado (Pinhão) and the regeneration of a building owned by Banco Popular de Portugal in Ermesinde. The second strategic guideline defined and carried out in 2009 meant that our stock of orders was less dependent on the Group’s leading companies. In fact, the Group’s stock of orders accounted for 35% of the total volume of Company Profile 02 2.2 Domestic Market Ferreira Build Power Positioning Vale Pisão - Nature Resort business, which is due to the growing efficiency of the company’s commercial departments. We have completed the Monção housing development (60 flats) and begun a new housing development in Mozelos, commissioned by Efimóveis SA. Commissioned by Norte Golfe SA, the Vale Pisão Resort, including 115 houses, a golf course, a clubhouse and associated infrastructure, is currently in its final stage. Vallado Farm 13 Vale Pisão Company Profile 02 2.3 Foreign Market Ferreira Build Power Foreign Market In tune with the company’s strategic guidelines, several partnerships have strengthened our position in the foreign market. For the first time in 2009, the stock of orders coming from abroad was higher than that in the domestic market. Hospital M H - Tripoli Strength Libya The CBA signed with AM Mesquita related to this market (FANDM), in which we hold a 90% share, has consolidated its position after a new construction contract in 2009. It involves the creation of a Military Museum, an initiative of great importance for the city of Tripoli. Designed by architect Mark Camili, it covers an enclosed area of 27,000 sq.m. and an unenclosed area of 50,000 sq.m. Currently in its project design stage, the construction is expected to begin in 2010 and last 27 months. Building Force 15 Also in Tripoli, it is worth mentioning the award of the contract for the design and construction of a Psychiatric Hospital. This work is expected to start in 2010, as the project design is almost concluded. Through its participation in FMLIDCO, a Lybian firm held by a sovereign-wealth fund, the company has a current stock of orders accounting for 150 million euros. Brazil Reliability Company Profile 02 2.3 Foreign Market Ferreira Build Power Credibility 17 Our presence in Brazil is channelled through BRAPOR, a real-estate and construction company in which we hold a 33% share. In 2009, we began the construction of the first housing development in the city of Caruarú, state of Pernambuco. Made up of 720 flats, it amounts to 24 million euros. Still in its first stage, we have started the construction of 240 flats, all of which have already been absorbed by the local market. This development is entirely financed by Brazilian Banco Caixa Económica. Company Profile 02 2.4 Future Ferreira Build Power The Future The Group The company is part of a Group dealing with property management. In 2009, the company moved its head office to Rua Correia de Sá in the city of Porto. This move is a step towards more profound changes that the Group will carry out this year. The Group’s growth and diversification have led to some strategic reflection about the positioning of its subsidiaries, which will mean the segmentation of business activities according to specific intervention areas. As a consequence, great challenges are in stock for the company. These changes are intended to improve even more the quality of our services, through the requalification of our staff, as well as to guarantee our quality certification. The company The contraction observed in the domestic market makes us see the future of civil construction in Portugal with great concern. However, although the sector is not expected to grow in the domestic market, the company has gained new markets abroad and the business generated by the company’s new partnerships is beginning to bear fruit. In the domestic market, the company’s participation in the PARQUE ESCOLAR contracts is proof of that. In the ambit of the already mentioned CBA, this client alone represents a volume of business of almost 50 million euro. The company is already prequalified for the third phase of the tendering procedure, to be conducted in 2010. Growth 19 Through partnerships to be celebrated with other construction companies, we plan to submit other tendering procedures concerning new school buildings, universities and hospitals. The stock of orders in the domestic market currently accounts for 130 million euros. In 2010, the company also aims at obtaining the topclass contractor’s license. Company Profile 02 2.4 Future Ferreira Build Power Multi use Pavilion of Gondomar Foreign Market The growth strategy regarding foreign markets has always privileged business partnerships, in order to extend the company’s projection and improve synergies. In both markets (Libya and Brazil) where it operates, the company has a differentiated, added-value offer providing services that go beyond civil construction and include project design and engineering. This allows for the reduction of the risks involved by using state-of-the-art construction technology to produce high-quality works. Libya The contracts already awarded will start in 2010: - Design and construction of the Tripoli Psychiatric Hospital – 42 million euros; - Project development and construction of the Tripoli Military Museum – 84 million euros. This year, our position in this market will be strengthened through our subsidiary FMLIDCO. The team leading the Tripoli project is already complete, motivated and ready to start working in the projects in which we are involved. We are firmly committed to further improving the position of FMLIDCO in the Libyan market of civil construction. Flexibility 21 Brazil The challenge is on! Through BRAPOR, the fist construction phase has been concluded and completely sold out. In 2010, 260 flats will be built in the second phase. The Group is committed to achieving a steady development in this very demanding market, either directly or through our subsidiary BRAPOR. Thus, the company’s goal for this year includes starting operation in the Angolan market and strengthening its position in Brazil. Since good traditions are worth keeping, we would like to thank all partners involved in our projects, particularly our numerous clients who have believed in us and in our execution capacity. We would like to express our gratitude to all the staff of the company and of the Group, for their commitment and dedication. Section Ferreira Build Power 03 23 3.1Organization Company Profile 03 3.1 Organization Ferreira Build Power Organization Structural Global F Holding SGPS Construction, Public Works & Requalifiction Ferreira Construção S.A. FMLIDCO Engineering S.A. FM MUSTAFAWI Qatar Brapor - Eng. e Const., LTDA. ACEs Empreendimento Brasil SGPS GFH SGPS Logistics & Services Real Estate Efimóveis S.A. Real Douro S.A. Norte Golfe, S.A. Golfe Quinta do Pisão, S.A. Douro Gás S.A. 25 Interacções do Futuro, LDA. AGI AGI, Polska Poland Granitos Vale do Couto Lda. Section Ferreira Build Power 04 27 4.1 The Numbers Financial Report 29 Activo EXERC. 2009 Assets Tangible Assets Facilities & other buildings Basic equipment Vehicles & transport equipment Tools & gadgets Office equipment Other tangible assets In progress tangible Financial Investments On subsidiary and associated companies’ capital Securities & other financial applications Current Assets Stocks Raw material, consumer & non consumer goods Products & works in progress Finished & intermediate products Goods Purchase advancements Medium and Long Term Reveivables Sundry debtors Provisions Short Term Receivables Trade debtors & receivable securities Adjustments in Receivables Group companies Advancements to suppliers State & other public institutions Sundry debtors Marketable Securities Sundry marketable debts Cas and Bank Deposits Bank deposits Cash Deferrals and Accruals Accrued profit Deferred expenses Deferred Tax Assets Total Depreciations Total Provisions Total Assets AB Exerc. 2008 AP AL 684.084,16 € 2.355.929,42 € 1.508.243,33 € 43.972,87 € 480.153,00 € 20.759,51 € 551.880,88 € 2.206.160,41 € 1.183.363,56 € 43.972,87 € 385.967,14 € 20.759,51 € 5.093.142,29 € 4.392.104,37 € AL 132.203,28 € 149.769,01 € 324.879,77 € 0,00 € 94.185,86 € 0,00 € 0,00 € 701.037,92 € 162.120,53 € 75.651,58 € 176.997,80 € 284,75 € 37.264,17 € 0,00 € 16.399,99 € 468.718,82 € 867.834,07 € 867.834,07 € 474.546,87 € 867.834,07 € 867.834,07 € 474.546,87 € 65.662,65 € 50.000,00 € 65.662,65 € 282.994,31 € 65.662,65 € 65.662,65 € 332.994,31 € 958.806,28 € 958.806,28 € 778.448,98 € 958.806,28 € 958.806,28 € 778.448,98 € 635.320,90 € 23.812.921,61 € 21.644.150,22 € 130.404,60 € 96.387,95 € 635.320,90 € 93.126,51 € 253.883,48 € 0,00 € 24.159.931,60 € 21.870.942,77 € 1.679.936,35 € 302,78 € 1.680.239,13 € 32.037,09 € 720,78 € 32.757,87 € 4.054,81 € 0,00 € 4.054,81 € 7.301,70 € 7.301,70 € 28.437.566,46 € 23.965.711,32 € 24.448.242,51 € 0,00 € 93.126,51 € 253.883,48 € 24.795.252,50 € 1.679.936,35 € 302,78 € 1.680.239,13 € 4.054,81 € 4.054,81 € 33.464.991,73 € 5.027.425,27 € SHAREHOLDERS’ FUNDS AND LIABILITIES Exerc. 2009 Share capital Exerc. 2008 3.000.000,00 € 3.000.000,00 € 77.863,09 € 83.116,55 € 460.511,57 € 445.214,98 € 6.651.842,62 € 6.361.207,39 € Reserves Revaluation reserves Revenue reserves Complementary repayments Others Legal reserves Statutory reserves Other reserves Retained profits 26.605,08 € 11.699,15 € 575.695,89 € 305.931,82 € 10.792.518,25 € 10.207.169,89 € Net profit for the year Total share capital LIABILITIES Exerc. 2009 Exerc. 2008 Provisions Other provisions Medium and Long Term Paybles Medium & long term loans Other creditors 3.228.491,54 € 2.297.833,71 € 3.228.491,54 € 2.297.833,71 € Payables to financial institutions 2.984.493,96 € 3.136.177,25 € Suppliers 7.087.126,89 € 3.599.398,82 € 353.194,99 € 403.761,61 € 10.424.815,84 € 7.139.337,68 € Advancements from clients State & public institutions Shareholders Suppliers Short Term Payables Loans on securities Shareholders Advancements from clients State & public institutions Sundry creditors Deferrals & Accruals Accrued expenses Deferred profits Deferred Tax Liabilities Total Liabilities Total Shareholders’ Funds and Liabilities Administration Gaspar Ferreira da Silva José Joaquim Soares Pinto da Silva José João Correia e Afonso Moreira Licínia Manuela Ferreira Pinto da Silva Virgilio David Cordeiro Linhares 316.562,91 € 268.433,33 € 3.662.644,88 € 4.043.284,24 € 12.533,04 € 9.652,47 € 3.991.740,83 € 4.321.370,04 € 17.645.048,21 € € 13.758.541,43 € 28.437.566,46 € 23.965.711,32 € Chartered Accountant Sandra Maria Neves Teixeira 31 INCOME Sales EXERC. 2009 EXERC. 2008 Goods Products Services rendered Supplementary Income 0,00 € 473.293,57 € 473.293,57 € 2.993.275,70 € 2.993.275,70 € 31.455.536,45 € 31.455.536,45 € 21.471.214,08 € 21.471.214,08 € 23.837,43 € 23.837,43 € 32.174,31 € 32.174,31 € -2.280.171,87 € -2.280.171,87 € Production variations Internal services Subsidies Exploration 14.588,19 € 14.588,19 € 31.967.255,64 € 31.967.255,64 € Other operating income (B) 229,76 € 229,76 € 22.216.721,98 € 22.216.721,98 € Share Capital Income Group & associated companies Share capital income Income from marketable securities & other financial applications Group companies Others Other Interests and Income Group companies Others (D) Extraordinary Income (F) 160.356,91 € 160.356,91 € 72.803,46 € 72.803,46 € 32.127.612,55 € 32.127.612,55 € 22.289.525,44 € 22.289.525,44 € 123.321,90 € 123.321,90 € 46.582,79 € 46.582,79 € 32.250.934,45 € 32.250.934,45 € 22.336.108,23 € 22.336.108,23 € Summary Operating results (B-A) 891.299,17 € 623.093,07 € Financial results (D-B)-(C-A) -104.377,10 € -186.635,50 € Current results (D-C) 786.922,07 € 436.457,57 € 28.106,64 € -18.285,68 € Net profits before taxes (F-E) 815.028,71 € 418.171,89 € Taxes on net profits 239.332,82 € 112.240,07 € Net profit for the year (F-G) 575.695,89 € 305.931,82 € Extraordinary profits (F-D)-(E-C) EXPENDITURE Coast of goods sold and used raw material Goods Raw material Goods and Services Supplied Exerc. 2009 Exerc. 2008 282.994,31 € 282.994,31 € 3.831.053,89 € 3.831.053,89 € 23.733.029,11 € 23.733.029,11 € 3.191.978,44 € 3.191.978,44 € 15.834.114,72 € 15.834.114,72 € Costs with staff Salaries & wages 2.295.392,05 € 1.877.171,72 € Social security 418.533,31 € Others 108.333,75 € 2.822.259,11 € 323.723,11 € 68.695,47 € 2.269.590,30 € Depreciation and Amortisation 329.032,80 € 329.032,80 € 240.608,76 € 240.608,76 € 74.993,25 € 74.993,25 € 54.722,83 € 54.722,83 € 2.594,00 € 2.594,00 € 2.613,86 € 2.613,86 € 31.075.956,47 € 31.075.956,47 € 21.593.628,91 € 21.593.628,91 € Provisions Taxes other than income Other operating Expenditure (A) Interest and Similar Expenditure Group companies Others (C) Extraordinary Costs and Losses (E) Taxes on Profits (G) Net Profit for the Year 264.734,01 € 264.734,01 € 259.438,96 € 259.438,96 € 31.340.690,48 € 31.340.690,48 € 21.853.067,87 € 21.853.067,87 € 95.215,26 € 95.215,26 € 64.868,47 € 64.868,47 € 31.435.905,74 € 31.435.905,74 € 21.917.936,34 € 21.917.936,34 € 239.332,82 € 239.332,82 € 112.240,07 € 112.240,07 € 31.675.238,56 € 31.675.238,56 € 22.030.176,41 € 22.030.176,41 € 575.695,89 € 575.695,89 € 305.931,82 € 305.931,82 € 32.250.934,45 € 32.250.934,45 € 22.336.108,23 € 22.336.108,23 € OWN CAPITAL Products Opening Stocks 282.994,31 € Acquisitions 50.000,00 € 3.846.114,44 € Reg. Exist. 602,10 € Stocks End C.M.V.M.C. Raw Materials 65.662,65 € 282.994,31 € 3.831.053,89 € 33 Administration Gaspar Ferreira da Silva José Joaquim Soares Pinto da Silva José João Correia e Afonso Moreira Licínia Manuela Ferreira Pinto da Silva Virgilio David Cordeiro Linhares Chartered Accountant Sandra Maria Neves Teixeira Annex to the Balance and Demonstration of Results 35 02 - Compatibility of Accounts In 2009, the company signed two Complementary Business Agreements (ACE – Acordo Complementar de Empresas) and used a method which, though not present in the accounting standard no. 24, seems to offer the most adequate accounting methods – the Method of Invoice Crossing. Using this method, the CBA accounting results are disregarded and the financial statement takes into account the operating, financial and extraordinary expenditure of the CBA as well as the operational, financial and extraordinary income in the percentage that the company has in the group. Total Assets – 28.437.566,46 € / Total Liabilities – 17.645.048,21 € Total Income – 32.250.934,45 € / Total Expenditure 31.675.238,56 € The company has applied accounting standard no. 28, which allows the income tax to be included as deferred taxes. 03 - Valuation Criteria and Accounting Policies Adopted. The main valuation criteria used in the financial statements were the following: - Tangible and Intangible Fixed Assets All the company’s fixed assets are originally accounted for by their purchase price. Some of these assets have been later revaluated in compliance with Law 31/98 dated 11 February 1998. Amortizations and reimbursements of fixed assets are calculated using the steady quota method of the original purchase or revaluation amount. The annual rates applied fit the assets’ useful life and correspond to the maximum rates defined in Regulation no. 2/90, dated 12 January 1990. - Leasing Fixed assets purchased through leasing, as well as the respective liabilities, are accounted for using the financial method. According to this method, the cost is recorded under tangible assets, liabilities are recorded under liabilities, interest rates are included in the installments paid and the asset amortizations are recorded as expenditure in the statements of their corresponding years. - Financial Investment The financial investments have been recorded at the cost of acquisition. - Stocks Raw material, consumer and non consumer goods All materials – raw material and non-consumer goods – have been recorded at their average cost of acquisition. - Products and works in progress Profits from contracts spanning more than one year are accounted for using the method of finishing percentage, in compliance with accounting standard no. 3, measured by partial deliveries, which allows for a precise estimate of the invoices to be issued. Whenever it is not possible to make a reliable estimate of profit and expenditure, the expenditure is recorded in Stocks – Products and Works in progress. In this case, the products and works in progress have been assessed according to the cost of construction, as defined by the specifications, which include the cost of raw material, labor and general industrial expenses. - Accrual-basis Accounting The company uses the system of accrual-basis accounting, according to which income and expenses are recorded as they are generated, regardless of the time when they are paid or received. The difference between the amounts received and paid and the corresponding income and expenditure accounts are recorded under the deferrals and accruals account. - Receivables Amounts invoiced including VAT, already paid up, when applicable. - Provisions The provisions are made according to the amounts needed to counterbalance the estimated economic losses. - Deferrals and Accruals This account includes the following: • Accrued expenditure regarding payable insurances, salaries and holiday pay, which will be processed and paid up in 2010. • Accrued profit, accounting for 1% of the total value of private or public contracts, in order to cover the costs generated during the guarantee period. • Assets and liabilities due to deferred taxes, deferred tax liabilities and application of accounting standard no. 28. • Deferred tax assets result from the realization of social utilities and from accounting value added. • Deferred tax liabilities include the effects of future amortizations not fiscally acceptable and resulting from legal revaluation, fines and penalties in the previous year. - Cash Available currency. - Payables Amounts invoiced, including VAT. 06 - Situations that may have significant effect on future taxes Account Revaluation Reserve Temporarily Taxable Differences Deferred Taxes 106.057,83 € 9.232,06 € 37 07 - Average number of staff In 2009, the company employed an average staff of 118. This number may be broken down as follows: Permanent staff: 84 According to their qualification level: Directors: 2 Senior management: 26 Middle management: 35 Junior management: 14 Highly qualified professionals: 18 Semi-qualified professionals: 6 Unqualified staff: 2 10 - Gross Assets, Amortization and Adjustments GROSS ASSETS Account Opening balance Reval/Adjust Accruals Divestitures Transf/Abatements Closing balance 0 0 0 0 0 0 Tangible assets Tangible assets Facilities & other constructions 684.084,16 € Basic equipment 2.363.273,24 € Vehicles & transport. equip. 1.406.683,80 € 137.556,96 € 38.407,44 € 2.355.929,42 € 337.638,42 € 33.974,54 € 1.508.243,73 € 43.972,87 € 358.982,09 € 121.170,91 € 3.740,98 € 480.153,00 € 20.759,51 € 20.759,51 € Tools & gadgets Office equipment 43.972,87 € Other tangible assets Financial investments 684.084,16 € 4.877.755,67 € 0,00 € 596.366,29 € 76.122,96 € 184.000,00 € 360.287,20 € 20.375,00 € 544.287,20 € 383.287,20 € 20.375,00 € 867.834,07 € 474.546,87 € 0,00 € 5.093.142,29 € AMORTIZATIONS AND ADJUSTMENTS Accounts Opening balance Increase Reimbursed Closing balance 0,00 0,00 0,00 0,00 521.963,63 € 29.917,25 € Basic equipment 2.287.621,66 € 63.439,53 € 144.900,72 € 2.206.160,41 € Vehicles & transport. equip. 1.229.685,60 € 172.015,55 € 218.337,59 € 1.183.363,56 € 43.688,12 € 284,67 € 43.972,86 € 321.717,91 € 64.249,24 € 385.967,15 € Tangible assets Facilities & other constructions Tools & gadgets Office equipment Other tangible assets GRAND TOTAL 551.880,88 € 20.759,51 € 20.759,51 € 4.425.436,44 € 329.906,24 € 363.238,31 € 4.392.104,37 € 4.425.436,44 € 329.906,24 € 363.238,31 € 4.392.104,37 € 12 - Regulations on which revaluations of tangible assets were based Fixed tangible assets were revaluated in compliance with Law No. 31/98 dated 11 February 1998. 13 - Breakdown of Revaluations Item Intangible assets Tangible assets Original cost Revaluation Value after Reval. 0,00 € 0,00 € 0,00 € 44.970,09 € 68.743,86 € 113.713,95 € 44.970,09 € 68.743,86 € 113.713,95 € 14 - Allocation of tangible assets ON 31 December 2009, the tangible assets recorded in the balance sheet were entirely allocated to the company’s main activity. 15 - Assets Purchased through Leasing Contracts Item Transport equipment Account Amount paid Amount to be paid Net amount 424 532.521,63 € 278.996,63 € 253.525,00 € 532.521,63 € 278.996,63 € 253.525,16 € TOTAL 16 - Associated and Subsidiary Companies Associated and subsidiary companies: Brapor – Engenharia e Construção, LTDA Head office: Recife – Brasil Share held: 33,34 % Douro-Gás - Companhia de Gás, S.A. Head office: Vila Real Share held: 5% Other participations: Alberto Martins de Mesquita & Filhos, Ferreira Construções Engenharia ,A.C.E. Head office: Av. Associação Comercial e Industrial de Gondomar, nº. 190 – Fanzeres Gondomar Participation in this Complementary Cluster totals 50%. Ferreira Edinorte Sul, ACE Head office: Rua Cónego Ferreira Pinto nº. 2 Cedofeita – Porto Participation in this Complementary Cluster totals 50%. 39 17 - The company does not hold shares for an accounting value over 5% of the subsidiary’s current assets. 21 - Corrections in the Current Assets Account Account Opening balance Increase Reduction Closing balance Receivables Doubtful debts 1.458.667,07 € 823.346,17 € 635.323,90 € GRAND TOTAL 1.458.667,07 € 823.346,17 € 635.323,90 € 23 - Doubtful debts Doubtful debts – 635.323,90 € 31 - In addition of the financial obligations included in the balance sheet, the company has signed contracts with the Housing Department for the construction of affordable housing in the councils of Santo Tirso, Monção and Gondomar, through Efimoveis – Imobiliária, SA. 32 - Company’s Liability for Warrants Given On 31 December 2009, loans to contractors accounted for: Bank warrants: 5.025.229,66 € 36 - Number of shares making up the Company’s share capital 600 000 shares. 37 - Share of the companies holding 20% or more of the capital Efimoveis – Imobiliária, SA Share capital: 6.000.000,00 € Share in Ferreira’s capital: 97%. 40 - Transactions within the Shareholders’ Funds Account SHAREHOLDERS’ FUNDS Account Opening balance Increase Reductions Closing balance 51 - Property 3.000.000,00 € 57 - Reserves 6.889.538,33 € 305.931,82 € 7.195.470,15 € 11.699,15 € 12.831,79 € 24.530,94 € 305.931,82 € 581.424,77 € 305.931,79 € 581.424,77 € 10.207.169,89 € 900.188,38 € 305.931,79 € 10.801.426,45 € 59 - Retained profits 88 - Net profits Shareholders’ funds 3.000.000,00 € 41 - Cost of goods sold and raw material used COST OF GOODS SOLD AND RAW MATERIAL USED Transactions Opening balance Goods Raw material used 282.994,31 € 50.000,00 € Purchases 3.846.144,44 € Stock adjustments 602,10 € Stock Final Stock Total costs 65.662,65 € 282.994,31 € 3.831.053,89 € 43 - Total fees paid to social bodies The fees paid to the social bodies – board of directors accounted for Fees: 232.514,90 € 44 - Sales and services rendered Sales 2009 711 - Goods 712 - Products 72 - Services rendered 73 - Extraordinary income Total 473.293,57 € 31.455.683,87 € 23.837,43 € 31.952.814,87 € 45 - Financial statement EXPENDITURE Account 681 - Interest paid 682 - Losses in Group and Associated companies 2009 2008 211.081,88 € 185.754,30 € 2.674,90 € 686 - Disc. Cash Payment 688 - Other Costs and financial losses 50.977,23 € 41.720,04 € -104.377,10 € -186.635,50 € 160.356,91 € 72.803,46 € 2009 2008 781 - Interest received 81.650,14 € 27.018,24 € 782 - Income from Group and Associated companies 39.472,87 € 786 - Disc. Cash Payment received 39.233,90 € 45.785,22 € 160.356,91 € 72.803,46 € Financial results INCOME Account 41 788 - Reversals and other profit. Financial profit 46 - Extraordinary results EXPENDITURE Account 2009 2008 55.790,39 € 54.040,39 € 693 - Stock depreciation 7.884,66 € 1.774.53 € 694 - Fixed assets losses 17.740,90 € 695 - Fines and penalties 7.018,13 € 691 - Donations 696 - Increase of Amort. and Prov. 4.206,56 € 873,50 € 697 - Prior year adjustments 4.292,30 € 698 - Other extraordinary losses 1.615,38 € 4.846,99 € 28.106,64 € -18.285,68 € 123.321,90 € 46.582,79 € Extraordinary expenditure INCOME 2009 Account 791 - Tax refunds 2008 730,38 € 792 - Debts collected 793 - Stock appreciation 794 - Fixed assets profit 85.541,66 € 10.695,87 € 795 - Contract penalties 29.739,20 € 27.446,95 € 796 - Prov. Reductions 797 - Prior year adjustments 798 - Other income 62,63 € 7.248,03 € 8.439,97 € 123.321,90 € 46.582,79 € 47 - Information included in compliance with the law in force CAE (Type of economic activity) – 41.200 Contractor’s license nº. 14 852 48 - Other information considered relevant to better understand the financial statements The company has received an incentive worth 600,000.00€ (six hundred thousand euros) from PME Investimento. Porto, 02 de Março de 2010 Management Gaspar Ferreira da Silva José Joaquim Soares Pinto da Silva José João Correia e Afonso Moreira Licínia Manuela Ferreira Pinto da Silva Virgilio David Cordeiro Linhares Chartered Accountant Sandra Maria Neves Teixeira 43 Section Ferreira Build Power 05 45 5.1 Works Executed 5.2 Works in Execution 5.3 Business License 5.4Awards Company Profile 05 5.1 Works Executed Ferreira Build Power Works Câmara Municipal de Marco de Canaveses Câmara Municipal de Alijó Contractor Duration Pavilhão Desportivo de Marco de Canaveses Marco de Canaveses 180 dias Remodelação e Ampliação da Estação de Tratamento de Água - 1ª, 2ª e 3ª Fase Marco de Canaveses 18 meses Construção do Pavilhão Gimnodesportivo e Balneários de Apoio em Vila Boa do Bispo Marco de Canaveses 6 meses Arranjos Exteriores na Urbanização da Tapadinha Marco de Canaveses 12 meses Construção de Polidesportivo na EB 2,3 de Fornos Marco de Canaveses 90 dias Construção de Polidesportivo na EB 2,3 de Toutosa Marco de Canaveses 90 dias Construção de Polidesportivo na Escola Secundária de Fornos Marco de Canaveses 75 dias Construção de várias Escolas Pré-Primárias no Concelho 24 meses Construção da ETAR da Cidade de Marco de Canaveses 12 meses Construção da ETAR das Freguesias de Magrelos, Sande, Vila Boa do Bispo e S. Paio de Favões 12 meses Piscinas Municipais Cobertas (Cidade) Marco de Canaveses 4 meses Empreendimento Habitacional de Pegarinhos Pegarinhos Alijó 450 dias Empreendimento Habitacional de Alijó Alijó 365 dias Construção de 12 Fogos de Habitação a Custos Controlados em Favaios Alijó 12 meses Construção de Auditório Municipal de Alijó Alijó 350 dias Works Câmara Municipal de Gondomar Contractor Duration Construção de 88 Fogos Habitacionais em Fontela Gondomar 11 meses Construção de 36 Fogos Habitacionais em Medas Gondomar 10 meses Construção de 54 Fogos Habitacionais em Foz do Sousa - PER Gondomar 12 meses Construção de 150 Fogos Habitacionais em Baguim do Monte Gondomar 12 meses Concepção/Construção de um Edifício no Conjunto Habitacional da Boavista - Rio Tinto Gondomar 8 meses Concepção/Construção de um Edifício no Núcleo Habitacional da Triana Gondomar 12 meses Concepção/Execução das Piscinas Municipais de Medas Gondomar 6 meses Concepção/Construção das Piscinas Municipais de S. Pedro da Cova Gondomar 6 meses Reconversão de um Edifício para Instalação do Departamento de gestão Urbanística da Câmara Municipal de Gondomar 4 meses 47 Recuperação de um Edifício no Conjunto Habitacional da Boavista – Rio Tinto Gondomar 6 meses Construção do Complexo Desportivo de Rio Tinto Gondomar 120 dias Construção de uma Fonte Luminosa Av. General Humberto Delgado Gondomar 90 dias Construção de uma Fonte Luminosa No Lugar do Souto Gondomar 90 dias Concepção/Construção de Urbanização e Edificação em Terreno no Lugar de Ervedosa Gondomar 12 meses Empreendimento Habitacional do Meiral – Edifício A – Acabamentos Gondomar 8 meses Company Profile 05 5.1 Works Executed Ferreira Build Power Works Câmara Municipal de Gondomar Stª Casa Misericórdia de Vera Cruz Efimóveis Imobiliária, S.A. Contractor Duration Centro de Saúde de Rio Tinto Rio Tinto 8 meses Requalificação e Valorização Ambiental do Vale de Rio Tinto Rio Tinto 225 dias Centro de Saúde de Rio Tinto – Arranjos Exteriores Rio Tinto 90 dias Concepção/Construção de Piscina Coberta e Respectivos Arranjos Exteriores Valbom 225 dias Concepção/Construção do Pavilhão Multiusos de Gondomar Gondomar 18 meses Construção do Centro de Desportos Náuticos – Programa Polis Gondomar 235 dias Construção do Centro Comunitário de S. Cosme Gondomar 12 meses Construção de Empreendimento Habitacional de 57 Fogos Pinheiro D’ Áquem Gondomar 12 meses Construção do Edifício Millenium Marco de Canaveses 18 meses Construção de Empreendimento Habitacional Baguim do Monte II Fase Baguim do Monte 16 meses Empreendimento Habitacional na Gala Sidney – Construção de 60 fogos Figueira da Foz 15 meses Empreendimento Habitacional da Mó S. Pedro da Cova 15 meses Construção de Edifício de Habitação (226 apart.) Valongo 24 meses Empreendimento Habitacional da Zorra S. Pedro da Cova 15meses Empreendimento Habitacional de Avintes Vila Nova de Gaia 17 meses Works Efimóveis Imobiliária, S.A. Contractor Duration Edifício de Habitação CDH – 94 fogos – Areias Gondomar 15 meses Empreendimento Habitacional de Santa Eulália Fânzeres - Gondomar 10 meses Moradias Bifamiliares de Gulpilhares Vila Nova de Gaia 20 meses Empreendimento de Habitação a Custos Controlados Gala Sidney III Fase – Figueira da Foz 32 Fogos 15 meses Empreendimento Habitacional Jardins de São Miguel Vila das Aves 1ª Fase – Santo Tirso 64 Fogos + 6 Lojas 18 meses Empreendimento Habitacional Encosta do Areal São João de Ver – Santa Maria da Feira 64 Fogos + 4 Lojas 18 meses Empreendimento Habitacional Jardins de São Miguel Vila das Aves 2ª Fase – Santo Tirso 40 Fogos 18 meses PMR de Vila das Aves – 44 Fogos Vila das Aves – Santo Tirso 14 meses 49 Construção de um Empreendimento Habitacional de 36 Fogos – Alfena Valongo 9 meses Execução de Acesso aos Vários Locais de Intervenção no Âmbito da Habitação Social e Respectivas Infraestruturas no Lugar de Sampaio Valongo 5 meses Construção de um Empreendimento Habitacional de 68 Fogos – Sampaio Valongo 10 meses Câmara Municipal de Espinho Conjunto Habitacional da Quinta de Paramos Espinho 15 meses Câmara Municipal de Baião Construção de um Pavilhão Desportivo na Escola C+S de Stª Marinha do Zêzere Baião 6 meses Câmara Municipal de Valongo Company Profile 05 5.1 Works Executed Ferreira Build Power Works Contractor Duration Construção de Escola Pré-primária de Buarcos Buarcos 200 dias Construção do Novo Mercado em S. Pedro Gala – Figueira da Foz 115 dias Edifício Habitacional na Bouça do Pombal Amarante 425 dias Construção de um Edifício Misto Composto por 30 Fogos a Custos Controlados e 5 Lojas Amarante 400 dias Câmara Municipal de Paredes Concepção/Construção do Pavilhão Gimnodesportivo Municipal em Lordelo Lordelo - Paredes 205 dias Liga Portuguesa de Futebol Profissional Construção do Edifício Sede da Liga Portuguesa de Futebol Profissional Porto 4 meses Ministério da Administração Interna Remodelação e Beneficiação de um Edifício Destinado à Esquadra da P.S.P. de Rio Tinto Gondomar 10 meses Escola Dramática e Musical Valboense Recuperação da Escola Dramática e Musical Valboense Gondomar 6 meses Construção de um Empreendimento Habitacional de 77 Fogos – Quinta da Lousa Valongo 8 meses Construção de Edifício de Habitação Colectiva Valongo 14 meses Oficinas, Secção de Peças e Escritórios Marco de Canaveses 210 dias Novas Instalações da Transdouro e Remodelação das Existentes - Paredes 8 meses Obras de Conservação no ST/Valença Valença 120 dias Instalação do Centro de Telecomunicações Avançadas de Braga 75 dias Obras de Adaptação para a EA de Chaves 100 dias Câmara Municipal da Figueira da Foz Cooperativa de Habitação Amarlar, CRL HogarSur M. Coutinho Automóveis, S.A. Telecom Portugal Works EDP Electricidade de Portugal, S.A. EN – Electricidade do Norte, S.A. CTT- Correios de Portugal Contractor Duration U.C. de Gondomar Gondomar 90 dias Centro de Produção do Douro Ampliação e Remodelação do Edifício de Comando Peso da Régua 6 meses Remodelação da Pousada do Lindoso Lindoso 6 meses Construção do Edifício no Aproveitamento da Régua e Arranjos Exteriores Peso da Régua 5 meses Edifício Industrial Régua Peso da Régua 4 meses Construção do Posto Exterior de Aparelhagem e Edifício de Comando S.E. / Fermil de Basto 5 meses Ampliação e Remodelação das Instalações do CD e SE Porto 90 dias Construção da SE da Lapa Porto 90 dias Remodelação e Beneficiação do Edifício da Rua Alexandre Herculano Porto 90 dias Remodelação das Instalações do CD Porto, da Rua de Camões Porto 5 meses Construção de Parque Exterior de Aparelhagem e Edifício de Comando S.E. de Arouca 8 meses EC de Murça -Obras de Remodelação Murça 4 meses EC de Cinfães-Obras de Remodelação Cinfães 4 meses 51 Company Profile 05 5.1 Works Executed Ferreira Build Power Works Câmara Municipal de Santa Maria da Feira Contractor Duration Empreendimento Habitacional de Guisande Santa Maria da Feira 8 meses Empreendimento Habitacional de Sanguedo Santa Maria da Feira 12 meses Empreendimento Habitacional de Canedo Santa Maria da Feira 8 meses Empreendimento Habitacional de S. João de Ver Santa Maria da Feira 8 meses Empreendimento Habitacional de Nogueira da Regedoura Santa Maria da Feira 12 meses Empreendimento Habitacional do Souto Santa Maria da Feira 9 meses Empreendimento Habitacional de Escapães Santa Maria da Feira 8 meses Empreendimento Habitacional de Fiães Santa Maria da Feira 12 meses Empreendimento Habitacional de Paços de Brandão Santa Maria da Feira 10 meses Empreendimento Habitacional de Milheirós de Palhares Santa Maria da Feira 10 meses Works Contractor Câmara Municipal de V. N. de Gaia Construção de Edifício Habitacional (68 fogos) - Sanhoane V.N. de Gaia Construção de Edifício Habitacional (39 fogos) - Sandim V. N. de Gaia Complexo Habitacional do Olival (189 fogos) V. N. de Gaia Câmara Municipal de V. N. de Gaia Câmara Municipal de Vila Real Duration 12 meses 10 meses 24 meses Construção de Edifício Habitacional (65 fogos) - Sandim V. N. de Gaia 12 meses Construção de Conjunto Habitacional (50 fogos) - Grijó Vila Nova de Gaia 12 meses Conjunto Habitacional de Canelas 2 (66 fogos) - Canelas V. N. de Gaia 12 meses Conjunto Habitacional de Sermonde (60 fogos) V. N. de Gaia 12 meses Concepção/Construção do Pavilhão Desportivo de Vila D’ Este V. N. de Gaia 10 meses Conjunto Habitacional (128 Fogos) Vila Real Habitação Unifamiliar Rio de Galinhas Marco de Canaveses 53 18 meses 12 meses Remodelação da Quinta da Murta Abragão / Penafiel 12 meses Ampliação das Instalações Industriais das Confecções Pratina, Lda Castelo de Paiva 6 meses GOP, EM Equipamento Social do Viso Porto 295 dias Gondomar Sport Clube Bancadas e Arrelvamento do Parque de Jogos do Sport Clube de Gondomar Gondomar 120 dias Eurometropolitana. S.A Construção de Imóvel na Rua de Costa Cabral Porto 15 meses Particular Works Contractor Duration Associação Portuguesa de Paralisia Cerebral Villa Urbana de Valbom Valbom - Gondomar 540 dias Ambisousa, EIM Concepção e Construção do Sistema de Pré-Tratamento de Lixiviados do Aterro Sanitário de Rio Mau - Penafiel 90 dias Figueira Domus, EM Empreendimento de Habitação a Custos Controlados do Mártir Santo Buarcos 265 dias Câmara Municipal de Albergaria-a-Velha Construção do Centro Cultural da Branca Albergaria-a-Velha 445 dias Câmara Municipal de Lousada Aquisição de 90 Fogos no Mercado para a Concretização do Programa de Habitação Social Municipal Lousada 24 meses Execução de Trabalhos de Colocação de Lajeado de Granito, Lancis e Pavimentação, no âmbito do URBCOM – Unidade 7 20 dias Execução de Trabalhos de Colocação de Lajeado de Granito, Lancis e Pavimentação, no âmbito do URBCOM – Unidade 6 35 dias Execução dos Trabalhos de Demolições, Pavimentações e Rede de Águas Pluviais, no âmbito do URBCOM – Unidade 2 30 dias Colocação de Lajeado de Granito – Rua Antunes Bastos, referente às obras de Intervenção do URBCOM 30 dias Remodelação da Praça da República no âmbito do URBCOM – Unidade 1 135 dias MatosinhosHabit - MH Reabilitação do Conjunto Habitacional do Seixo – 1ª Fase /Envolvente Exterior de Edifícios e Arranjos Exteriores - Matosinhos 10 meses Real Douro – Promoção e Gestão Imobiliária, S.A. Construção de 12 Moradias na Rua do Molhe e Pêro Alenquer Porto 24 meses Câmara Municipal de Melgaço Recuperação e Revitalização do Rio do Porto 2ª Fase 365 dias Cooperativa Habijamor, CRL Construção de 16 Moradias na Urbanização “Expansão Nascente de Queijas”, em Queijas/ Linda-a-Pastora - Oeiras 12 meses Ferreira Construções, S.A. Empreendimento Habitacional de Roussas – Casa Nova Melgaço 598 dias Irmandade da Santa Casa da Misericórdia de Vera Cruz de Gondomar Centro Social de Fânzeres Gondomar 540 dias Câmara Municipal de Cabeceiras de Basto Câmara Municipal de Cabeceiras de Basto MOVIMENTO 55 Company Profile 05 5.2 Works in Execution Ferreira Build Power Works Contractor Santa Casa da Misericórdia de Vera Cruz Centro Social de Fânzeres Gondomar 540 dias Centro Social e Paroquial do Santíssimo Sacramento Adaptação e Ampliação de um Imóvel Existente para Instalação Casa-Acolhimento Santa Marta Porto 315 dias Real Douro, S.A. Construção de 12 Moradias na Rua do Molhe e Pêro de Alenquer Porto 24 meses Empreendimento Habitacional em S. Paio de Oleiros Santa Maria da Feira 24 meses Empreendimento Habitacional Aves 2009 Vila das Aves – Santo Tirso 18 meses Empreendimento Habitacional em Esgueira Aveiro 18 meses Empreendimento Habitacional Villa Mozelos Santa Maria da Feira 18 meses PMR de Vila das Aves Vila das Aves – Santo Tirso 14 meses Loteamento Estrada D. Miguel Infraestruturas Gondomar 6 meses Emprrendimento Habitacional em Friães I e II Santo Tiros 36 meses Efimóveis, S.A. Câmara Municipal de Melgaço Cerro Grande – Invest. Imobiliários, S.A. Parque Escolar, EPE Empreendimento Habitacional Megaço Casa Nova Roussas – Melgaço 48 fogos Duration 18 meses Casas da Marina - Albufeira (Ferreira Edinorte – Sul, ACE) 15 meses Hotel Cerro Grande - Albufeira (Ferreira Edinorte – Sul, ACE) 10 meses Execução das obras de modernização da Escola Secundária do Cerco, no Porto (Ferreira Edinorte – ACE) 9 meses Works Contractor Norte Golfe, S.A. Empreendimento Vale Pisão Santo Tirso Câmara Municipal de Paredes Centro Escolar de Vilela 14 meses Câmara Municipal de Paredes Centro Escolar de Duas Igrejas 14 meses Câmara Municipal de Ponte da Barca Construção do Centro escolar de Entre Ambos-os-Rios 12 meses Centro Escolar de Resende 18 meses Estadio Municipal de Fornelos 365 dias Câmara Municipal de Alijó Const/Requalificação do Polo Escolar Integrado de Alijó – Pre Escolar e EB 1 263 dias Câmara Municipal da Régua Construção do Centro Escolar de Peso da Régua EB1 +JI 12 meses Câmara Municipal da Régua Construção do Centro Escolar de Godim EB1 +JI 12 meses Câmara Municipal de Resende Câmara Municipal de Resende Vouga Park Requalificação e Ampliação da Fab. de Massas Alimentares do Vouga para novas funções como Vouga Park – Parque Tecnológico e de Inovação do Vouga – E.M. Quinta do Vallado, Sociedade Remodelação e Ampliação da Adega, Ampliação da Unidade de Turismo Rural e Novo Agrícola, Lda Arruamento da Quinta do Vallado Parque Escolar, EPE Obras de Modernização das Escolas com Ensino Secundário – Lote 2AS1 (Elvas e Portalegre) Parque Escolar, EPE Obras de Modernização das Escolas com Ensino Secundário – Lote 2AIN4(Guimarães) Câmara Municipal da Régua Construção de Piscina Coberta Desportiva Municipal (Peso da Regua) Câmara Municipal de Gondomar Centro Escolar de Valbom Duration 4 anos 30 meses 18 meses 15 meses (Em adjudicação) 15 meses (Em adjudicação) 12 meses (Em adjudicação) 12 meses 57 Company Profile 05 5.3 Business License Ferreira Build Power Commercial Registration 59 Company Profile 05 5.3 Business License Ferreira Build Power Business License 61 Certificate ISO The Organization Management System of Ferreira – Construções, SA was audit and complies with the requirements of the NP EN ISO 9001:2000 Standard for the activities of Design, Construction and Rehabilitation of Buildings and Infrastructures of the Surrounding Areas. Environmental rehabilitation and upgrading of the urban spaces and other. 63 Company Profile 05 5.4 Awards Ferreira Build Power IHRU This award was granted by the Housing and Urban Rehabilitation Institute (IHRU) managed by the Secretariat of State for Regional Planning in December of 2008. By the panel’s deliberation, the Executive Council of the IHRU has conferred a honorable mention to the housing stock of 64 buildings in Areal, in the region of Santa Maria da Feira. Promoter: Efimóveis Imobiliária, SA Construction: Ferreira Construções, SA Design Project: Arch. J.J.Silva Garcia This award was granted by the National Housing Institute (INH) managed by the Secretariat of State for Regional and Towns Planning in June 2006. By the panel’s deliberation, the Executive Council of the INH has conferred a honorable mention to the housing stock of 81 buildings in Gala, Figueira da Foz. Promoter: Efimóveis imobiliária,SA Construction: Ferreira Construções, SA Design Project: Arch. Duarte Nuno Simões, Nuno Simões, Joana Barbosa and Eng. Artur Pinto Martins 65 This award was granted by the National Housing Institute (INH) in June 2000. By the panel’s deliberation, the Executive Council of the INH has conferred a honorable mention to the housing stock of 160 buildings in Paramos, Espinho. Marketing: Câmara Municipal de Espinho Construction: Gaspar Ferreira da Silva & Irmão, Lda Design Project: Arch. Nuno Lacerda Lopes Company Profile 05 5.4 Awards Ferreira Build Power This award was granted by the National Housing Institute (INH) in July 1998. By the panel’s deliberation, the Executive Council of the INH has conferred a honorable mention to the housing stock of 150 buildings in Baguim do Monte, in the region Gondomar. Marketing: Ferreira-Gaspar Ferreira da Silva & Irmão, Lda Construction: Ferreira-Gaspar Ferreira da Silva & Irmão, Lda Design Project: J. Bragança, M.Marques, Arquitectos, Lda This award was granted by the National Housing Institute (INH) in July 1999. By the panel’s deliberation, the Executive Council of the INH has conferred a honorable mention to the housing stock of 25 buildings in Gondomar. Marketing: Gaspar Ferreira da Silva & Irmão, Lda Construction: Gaspar Ferreira da Silva & Irmão, Lda Design Project: J. Bragança, M.Marques, Arquitectos, Lda 67 Rua Correira de Sá, 68 4150-229 Porto Portugal www.ferreirasa.pt
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