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
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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
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Rua Correira de Sá, 68
4150-229 Porto
Portugal
www.ferreirasa.pt