REPORT ON ACTIVITIES 2009
Table of contents 05
Message from the president
10 years of Tecnatom
Board of Directors. Shareholders
The Tecnatom Group
Historical background. A brief summary
Key figures for 2009
Relevant events in 2009
Areas of production in 2009
35 Activities in 2009: Sectors/Markets Technology development and innovation Corporate management
REPORT ON ACTIVITIES 2009
Message from the
It is for me an honour and a satisfaction to present the Annual Report on Activities for the 2009 financial year on behalf of the Board of Directors, for the first time as President of TECNATOM. The report reflects the most relevant data for a year in which our Group has more than managed to meet the objectives mapped out. My first words must necessarily be of recognition and gratitude to our previous President, Eduardo MartĂn Baena. The intense and excellent work that he has carried out over the last ten years has allowed us to take an important qualitative and quantitative step forward and to establish our position as a reference on the markets on which we operate. To a large extent he has been the architect of what TECNATOM is today. I should also like to thank the Board of Directors for appointing me as President, a post that I have taken over with enthusiasm and with the responsibility of continuing the enormous task carried out by those who occupied the position before me. Likewise, I should like to welcome Gas Natural, which has become one of our shareholders in the wake of its merger with UNIĂ“N FENOSA. I am convinced that we shall enjoy the full support of this company. In 2009, a year marked by the recession of the western economies, TECNATOM has amply exceeded the forecasts set out in our Strategic and Business Plan for the year, as regards both turnover, which has increased by 24% with respect to the previous year, and EBITDA, which has grown by 32 %. Consequently, we have achieved clear growth for our Group and significant strengthening during the year. As regards the progress of our operations, I must first refer to the national nuclear market, where activity has increased with respect to the previous year as a result both of the number of refuelling outages performed at the Spanish nuclear power plants and of the supply of new services to these facilities. The services relating to the plant operating personnel selection, training and renewal programmes have also increased, especially in relation to new operating licences. Nuclear activity overseas has been affected by the international economic crisis, with the subsequent slowing down of certain nuclear programmes, this having delayed the launching and performance of several projects. Nevertheless, it should be pointed out that the objectives mapped out have been achieved. There has also been an important qualitative step forward and at year end the company has an important backlog of orders for the coming years.
REPORT ON ACTIVITIES 2009
Within the strategy of strengthening our presence in China, a country that is destined to be one of the worldâ€™s leading references in the nuclear industry in the future, mention may be made of the achievement of contracts for the supply of equipment and engineering for new nuclear plants in the country and of the magnificent operation of CITEC, the mixed company constituted by the Chinese Research Institute China Guandong Nuclear Power Company and TECNATOM, for which the phase of delivery of inspection systems and their certification by the Chinese regulatory authority has now been completed and with which preliminary work has been performed at the Ling Ao Nuclear Power Plant. In addition, attention should be brought to the good perspectives and the draft agreements that are being established with the main participants in the nuclear renaissance that is taking place in both Europe and America. On the aeronautics market, which is also being affected by the crisis, the technologies and capacities that TECNATOM has developed in the sector have made it possible to close the year with a significant increase in turnover, amply exceeding the objectives mapped out. Also for Airbus, but in this case in China, a contract has been achieved for the supply of a complex ultrasonic inspection system for the facilities located in Harbin, opening up the possibility of our strengthening our presence on the aeronautical market of the Asian giant. Aware of the applicability of our capabilities to generating facilities, mention should be made also of the initiation of gas turbine inspection services and participation in the training plans of combined cycle plants and thermo-solar generating installations in the renewable energies sector. Mention should be made also of our French subsidiaries Metalscan and M2M, which have satisfactorily fulfilled expectations in spite of having been affected by the crisis, which has had an especially strong impact on their industrial clients. Furthermore, we reiterate our strong backing for the future of nuclear energy and in this respect are convinced that only through a suitable policy of attracting, developing and retaining talent will it be possible to maintain and strengthen our position on an increasingly global, difficult and competitive market. With this aim in mind, an important recruiting and training plan has been implemented and is now beginning to bear fruit, fundamentally through our participation in the development of new reactors. Also fundamentally important is the strengthening of our corporate culture, aimed at ensuring the integration and motivation of the entire human team. In this respect, efforts have been made to ensure that all the new professionals feel themselves to be part of TECNATOM from the moment they join the company, that they know its business culture and that they act in accordance with its Corporate Principles and Values.
Our Occupational Risk Prevention System is part of this same keen emphasis on the future, and is an area in which the Group continues to achieve accident rates far below the national average. Also noteworthy is the revision and improvement of our Management Model, which is aimed at reinforcing and speeding up Monitoring and Control tasks, improving the criteria and information for decision-making.
In 2009, TECNATOM has amply exceeded the forecasts set out in our Strategic Plan
But if there is one thing that is part of the essence of our corporate culture it is the on-going search for excellence in all the manifestations of the company. In this respect, in 2009 efforts have been increased to incorporate into our products and services the best practices of the most prestigious international organisations. This is the case of the standards of INPO (Institute of Nuclear Power Operations) and EPRI (Electric Power Research Institute), Organisations with which the Group has collaboration contracts. Another of our strategic building blocks is Innovation and Technology Development, to which preferential attention has continued to be paid as a fundamental factor for competitiveness. Many of these activities have been carried out within the framework of European Union and Spanish R&D&i programmes. The Technology Development objectives have been satisfactorily covered and the criteria applied in this area by the different companies of the Group have been standardised. The important work performed by TECNATOM in this area has been recognised by the GarcĂa Cabrerizo Foundation, which during a moving ceremony held at the Scientific Research Council (CSIC) awarded our company its Medal of Honour for the Promotion of Invention. Before us a future full of challenges is opening up, a future in which all of us who are part of TECNATOM will be called upon to play an important role. It is a future that we face with decision but with care, aware of the serious economic situation affecting the world and our country but also of the fact that we have the potential and the capabilities required to continue to steer our company along the path of development for many years to come. It remains only for me to thank all the persons who work for the Group for their efforts and dedication, our clients for their loyalty and support and our Shareholders for their commitment and backing. They have all been fundamental in helping TECNATOM to successfully overcome a complex year.
10 years of Tecnatom After almost ten years as President of TECNATOM the moment has come to hand over the baton, and I should first like to say that for me having enjoyed the privilege of presiding over this company and sharing with all its people a stage in which the company has undergone profound transformation has been enormously satisfying. It has been a decade in which our company has taken a giant leap in its development, for which it has been fundamentally important to design and develop a strategy based on internationalisation, diversification and the extension of our services on an increasingly competitive and globalised market. Although oneâ€™s memories are many, it would be impossible to sum up in just a few lines all the experiences that have been gleaned and the projects addressed. However, I should like to underline one or two of the most significant achievements, such as for example the decentralisation of activities in order to bring us closer to the needs of the plants, with the creation of the Operational Support Centre in Catalonia, and the start-up of similar centres at the Cofrentes and Santa MarĂa de GaroĂąa nuclear power plants.
REPORT ON ACTIVITIES 2009
It has been fundamentally important to design and develop a strategy based on internationalisation, diversification and the extension of our services
It has also been a period during which our company has considerably increased its presence on the overseas nuclear market, consolidating this presence on the traditional European and US markets and also, and especially, in emerging countries such as Argentina, China, Brazil or Mexico. In this respect I should like to underline our firm commitment to China, which is destined to be one of the leading actors in the nuclear sector in the coming years, in relation to which mentions should be made of the creation of CITEC, the Chinese-Spanish company set up jointly with the Research Institute of the China Guandong Nuclear Power Company.
The introduction of new lines of activity and our efforts in diversification have been another constant at TECNATOM in recent years. The acquisition of the French companies Metalscan and M2M, our increasingly significant presence in the international aeronautics sector, the development of services for gas plants and new renewable energies are a good example of this and are a reply to the need to look for new business opportunities and open up new courses of action. As a result of the above, during this decade TECNATOM has significantly multiplied its turnover, as well as its backing for technology development, assuming its commitment to innovation and excellence and increasing profitability by a factor of 9 with respect to in-house resources and net profits by more than 24, while keeping debt stable. These have, therefore, been years of a sustained and profitable growth that places us in a solid position to face the challenges of the future. Behind all this there is a magnificent team of executives and workers and the constant backing of our shareholders. I should like to thank them all for their support and collaboration and assure them that if they ever need me I shall be at their entire disposal. Convinced that the best times for TECNATOM are still to come, it remains only for me to express my best wishes for the new President, Antonio Alonso, and for a company to which I will always consider myself to be closely linked.
Eduardo MartĂn Baena President of Tecnatom 2001-2009
D. Alfonso Arias Cañete
D. Enrique Bordiú Cienfuegos-Jovellanos
D. Diego Molina Orero
D. Félix Rojo Sevillano
D. Víctor Sola Gutiérrez
D. Luis del Val Hernández
D. Agustín Tejedor Velarde
REPORT ON ACTIVITIES 2009
D. Antonio F. Alonso Ramos
Avenida Montes de Oca, 1. 28703 San Sebastiรกn de los Reyes Madrid (Spain)
Published on Sep 8, 2011