renew Energy without limits • march | april 2013
EDPR AND STAKEHOLDERS
Building Relationships
Online 24 hours in the life of Gianluca Veneroni
On Change Sandra Magalhães, HR Business Partner for Portugal and Romania
onindex March | April
renew Energy without limits • march | april 2013
EDPR is devoted to making a positive difference in the world through social and environmental impact. In order to do so, the company develops strong relationships with communities EDPR AND STAKEHOLDERS
as well as various global and local stakeholders.
Building Relationships
Online 24 hours in the life of Gianluca Veneroni
On Change Sandra Magalhães, HR Business Partner for Portugal and Romania
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Bilbao, Spain: learn more about where EDP has a presence.
EDPR building relationships EDPR aims for consistent and open dialogue with each stakeholder. The company aims for transparency through consistent communication channels. Through these stakeholder relationships, EDPR demonstrates its social and environmental commitment to creating a better world.
14 onpeople Meet Dieris Lebrón, Head of Purchasing EDPR Europe, and Gary Boerner, EDPR NA’s Corporate Account Manager.
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online 24 hours with Gianluca Veneroni
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As Country Manager of EDPR Italy, he contributes to the development, construction and operation of wind farms in Italy. “One of the aspects I really enjoy of working for EDPR is the possibility it provides me to share experiences with colleagues,” says Gianluca.
Tips to help you managing a budget.
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EDPR’s most important news.
Rui Antunes Head of Investor Relations and Sustainability has recently added Planning and Control to his functions. This unique change will perfectly align the company’s performance, strategy and challenges, and further communicate this to investors and analysts.
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onchange Sandra Magalhães Sandra finds employee mobility to be one of EDP Group´s strengths. She began her career with EDP Group, in Portugal, for EDP Gas. She then made her way to Madrid to work for the Sustainability and Corporate Development department of EDP Renováveis.
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BILBAO
Learn more about the places where EDP is present
G EO G R A PH I C DATA : Bilbao is the capital of historic Vizcaya and the heart of a metropolis with over one million inhabitants. It is a city offering services focused on environmental and urban recovery. A mere village in the past, it has undergone a transformation that turned it into an increasingly attractive city to visitors. An example is Naturgas Energía’s new corporate headquarters in Bilbao, built in a historic building, where the exterior façade was kept intact and the interior completely remodeled, resulting in a modern office building with a 3,500 m2 area.
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Ponte Zubizuri
GET TO KNOW When I have time I like to stroll through Volantin Field, along the estuary. From Town Hall, we pass small villas on the way to Zubizuri Bridge, built by Santiago Calatrava, which will draw your attention because of its form in the shape of a sail. If we cross the street and follow Uribitarte Street we will arrive at the crown jewel - the Guggenheim Museum (1) by the renowned architect Frank Gehry, and the symbol of the city, which looks like a futuristic boat stranded in the estuary. It seems that we are entering a magical world, when we find a sculpture of a huge spider at the entrance of the museum. The small lake in front gives off a strange mist that slowly rises to cover the passage that separates it from the estuary. Around the
museum building we can see more curiosities: Puppy (2), a 12-feet tall dog, made from planted blooms, another example of Bilbao’s innovative style. If accompanied by children, you must visit Amorino, an Italian ice cream parlor opposite the Puppy, offering amazing flavors of ice cream shaped as flowers. If tired, right there, you can take the cable car to Euskalduna Palace (3) and enjoy some of its cultural offerings, or go to the Maritime Museum (5), located in the old shipyards. Here, you can see Bilbao’s and the Basque Country’s relationship with the sea: old photographs, ship models, films, posters and even boats moored at the pier, all to the delight of children and adults. Its café overlooks the Carola Crane, built in 4 onrenew
1957. When the shipyard was still operational and women took lunch to their men across the river by boat, one of the women was so admired for her beauty that workers climbed to the top of the crane to admire and flirt with her. If from City Hall you travel in the opposite direction, you’ll arrive at El Arenal where you’ll be able to enjoy the architecture of the Arriaga Theater, which, in the opinion of many famous actors, is one of the most beautiful theaters in which they have worked. One step away is the Plaza Nueva, where, on Sunday mornings, people can enjoy the market organized across 64 arched galleries: It is common to see a crowd of people buying old books, coins, stamps, comic books, etc..
Started working in the Information Technology department at Naturgas Energía 24 years ago, when the company had only 50 employees. Currently, she works at DSI’s Spain Application Management Center, in the commercial systems area. Her main hobbies are traveling and sightseeing. Here are some tips about the more touristy areas of her city, Bilbao.
SILVIA ALVAREZ
GOING OUT Terraço del Yandiola (Barn): a drink, a beer or a coffee in the terrace overlooking Bilbao is impressive. Campos Theater Cúpula Room: located on the 6th floor of the Campos Elísios Theater. You can catch a show at the theater and then have a drink in the lounge. Café Iruña: Founded in 1903, the day of San Fermin, it is a salon for Bilbao’s society to gather. It was declared a natural monument in 1980, and in 2000 it won the award for the Best Coffee in Spain. The distillery: particularly Indautxu, which offers the best cocktails in Bilbao.
TASTING Bilbao has very special restaurants where traditional and typical Basque food mixes with modern cuisine and exquisite dishes. Here I leave you some suggestions: Etxanobe Restaurant: Located on the third floor of the Euskalduna Palace, it opens on to wonderful views over the estuary and the city. Aizian: on the ground floor of the Melia Hotel and 10 minutes from the Guggenheim Museum, it offers signature cuisine. Serantes: a seafood restaurant where you can dine off-hours (difficult to find in Bilbao). Eme Bar: the most famous Bilbao sandwiches with a “secret” sauce (you’ll need several hundred napkins to clean up after eating them!).
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FEASTS La Aste Nagusia, in mid-August, is the principal feast of Bilbao and a great cultural opportunity. The market of St. Thomas, celebrated in Casco Viejo (4) every December 28, is one of the most anticipated festivals in Bilbao. It preserves all the old “taste” with a display of homemade spectacular products. Alhóndiga Municipal of Bilbao
OTHER WAYS TO VISIT BILBAO AND SURROUNDING AREAS You can take a boat trip on the estuary until you reach the sea, passing through the drawbridge (Bizkaia Bridge), a World Heritage Site. If you want to do a little exercise, take a bike ride through Bilbao on its bicycle
lanes or bidegorris (Bilbao’s Town Hall provides a bike rental service to anyone). For further afield, you can use the metro to visit some of the most famous beaches of the Basque coast, such as Larrabasterra or Sopelana Plentzia, less than an hour away.
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To enjoy the view from atop the city, take the El Funicular Artxanda (cable railway) that connects the Plaza del Funicular (along the estuary) with Artxanda Hill and, after a 3-minute trip, you’ll enjoy a wide and unique view of Bilbao and its estuary.
oncover EDPR and the Stakeholders
BUILDING RELATIONSHIPS EDPR´s mission is to be a long-term market leader in the renewable energy sector, while pursuing credibility through safety, value creation, social responsibility, innovation and respect for the environment. The company is devoted to making a positive difference in the world through social and environmental impact. In order to do so, EDPR develops strong relationships with communities as well as various global and local stakeholders.
WHO ARE OUR STAKEHOLDERS? From small media publications or communities to investors and large associations, EDPR aims for consistent and open dialogue with each stakeholder. The company aims for transparency through consistent communication channels. Through these stakeholder relationships, EDPR demonstrates its social and environmental commitment to creating a better world. The relationship and dialogue with EDPR is unique for each type of stakeholder. Each stakeholder has different needs and interests. Understanding its stakeholders helps drive EDPR´s business and increase its contribution to society and sustainability. EDPR engages in multiple stakeholder projects every year. It is fundamental to actively 6 onrenew
communicate with stakeholders to ensure all their needs and interests are being addressed. EDPR continues these initiatives among others every year. The company is dedicated to seeking innovative ways to meet stakeholder needs that will have a positive impact on society and/ or the environment. Setting the stage for the rest of EDP Group, EDP recently created a department solely dedicated to stakeholder issues known as, Institutional Relations and Stakeholders Department (DRIS). This department will establish a stakeholder management policy which will help establish innovative approaches to stakeholder relationships that may later be followed by the rest of the Group.
MEDIA International to local media groups Press-conferences Press-releases Assessment studies
SUPPLIERS Turbine manufacturers, BoP and O&M contractors and others Permanent dialogue through meetings and visits
LANDOWNERS Owners of the land where our turbines are installed Newsletters Wind farm inaugurations
ASSOCIATIONS
NGOs and environmental associations Meetings Collaboration agreements INVESTORS More than 110,00 investors Website Quarterly and annual reports Investor day Road shows TRANSMISSION Shareholder’s meeting
OPERATORS
Entities that provide the connection to the electric grid Meetings Visits to our facilities
EMPLOYEES 796 Employees in 11 Countries Intranet Corporate TV Annual meetings Internal surveys
PUBLIC AUTHORITIES Representatives from neighbouring villages to governments Permanent dialogue through meetings Visits to our facilities
CUSTOMERS (OFF TAKERS) Utility companies that trade our green energy Regular communications Forecasting service
LOCAL COMMUNITIES Communities surrounding our circa 200 wind farms Town hall meetings Sponsorship activities
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Local Communities As part of EDPR´s core business strategy, the company intends to establish a relationship of trust and collaboration with communities where they are present, from the initial stages of its projects and throughout the lifespan of its projects. EDPR aims to create a long term partnership with this stakeholder, which is essential to the company. The residents of these communities are the people who face the wind farms in their daily lives. Thus, EDPR believes in avoiding any disturbances to their lives and developing initiatives that will keep the peace as well as benefit them in any way the company can.
EDPR sponsored Harvest Festivals in several small communities which surround its wind farms in Poland. EDPR develops a series of community outreach initiatives in Poland. These initiatives are focused toward giving back to the Polish communities such as supplying donations for local schools or sponsoring new playgrounds. EDPR also sponsors local festivals such as the Harvest Festivals in Bobowo, Trzeciewica and Szostka. These festivals were an opportunity to educate the community on the importance of wind energy and EDPR’s expertise in the field. EDPR was able to encourage interests among the community .The positive image of EDPR was translated into each activity that took place at these Harvest Festivals in Bobowo, Trzeciewica and Szotska. Stands were set up and provided informational leaflets about wind energy and EDPR as well as promotional materials such as balloons, mugs and pens. There were fun activities for children including a drawing competition themed “How to Paint the wind.” In Trzeciewnica and Szostka, EDPR sponsored concerts with local popular bands. By better understanding wind energy and where EDPR stands, these communities will be more accepting of EDPR’s projects.
EDPR promotes education through its Green Education program. EDPR has a Green Education program with which it promotes eduaction, from preschool to university, amongst low income families. This initiative is aimed to financially support schools and families living in the autonomous communities of Spain in which EDPR operates. Green Education has been carried out in other European countries including Poland and Romania last year and in Portugal this year. In Spain last year, EDPR distributed 27 scholarships as well as the purchase of books for 33 families, equaling a total amount of 20.565 euros. The project was carried out in the town of Valderedible in Cantabria, La Roda in Albacete and Tarifa and Media Sidonia in Cadiz. In Tarifa, 15 primary schools of ESO as well as a university student received Green Education scholarships. Meanwhile in Medina Sidonia, scholarships were awarded to educational institutions for the purchase of books, which resulted in help for 33 families. The beneficiaries included the schools Santiago El Mayor, Doctor Thebussem, Ángel Ruiz Enciso and Nuestra Señora de la Paz. Finally, in La Roda 8 grants were received and in Valderedible 3 schoolchildren received subsidies. In line with EDPR’s commitment to economic, environmental and social growth, EDPR is constantly seeking positive ways to give back to the community through initiatives that will support any of these aspects. Through Green Education, EDPR reinforces its commitment to social growth and development. EDPR invests in the future of young people, offering them an opportunity to reach their potential as well as alleviate their families from financial stress they may be facing with respect to their children’s education. 8 onrenew
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In North America, EDPR promotes a healthy work-life balance by providing sufficient opportunity for its employees to support the activities of charitable organizations through the Company’s Volunteer Program. In North America, employees, friends, and family members attended the annual Buffalo Bayou Partnership Trash Bash and collected waste along Japhet Creek in Houston, Texas. The Buffalo Bayou Partnership reported that around 250 total people volunteered their time and collected more than 300 bags of trash at this event. The EDPR NA Volunteer Committee coordinates events on a monthly basis that have social and/or environmental impacts. The Committee is excited about the events it has planned for the remainder of 2013.
EDPR believes in environmentally responsible management of its wind farms. EDPR complements its support to local communities with environmentally responsible management of its wind farms. The company has several Environmental and Biodiversity policies based on EDP Group’s guidelines. EDPR works to protect the environment throughout all stages of its projects including development, construction and operation of its wind farms. For example, during the development and construction of the Coll de Moro wind farm in Spain, GPS monitoring of a specimen of Bonelli’s eagle was carried out in order to understand the eagles´ actual use of the area. A program of reinforcement of prey species was promoted in order to improve the eagles’ food supply near its breeding area. This was achieved by habitat improvement of the eagle’s prey species, primarily rabbits. The improvement of availability of food provided lower energy expenditure in foraging and therefore, greater possibilities of reproduction which in turn, increases the chances of species conservation. Throughout its geographies, EDPR takes on various types of these special biodiversity projects. EDPR partners with well known institutions in a related field as well as region associations that provide them with strong knowledge of the local fauna.
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Employees EDPR´s human capital is one of the reasons that lead the company to deliver exceptional operational results year after year. A young world class team with excellent qualifications and extensive local knowledge. EDPR´s capacity to attract and retain this qualified workforce is of vital importance for the company. Thus, EDPR aspires to provide an enjoyable workplace in all its regions for all its employees, ensuring employee satisfaction and encouraging pride for the company. In both Europe and North America, EDPR holds an Annual Meeting to improve cohesion across management teams and encourage team building. Employees are given an opportunity to learn of the company´s recent accomplishments and projects, current standing and plans for the future at the Annual Meeting. This year, top management shared their key highlights and objectives for the 2015 Business Plan. Employees gained in depth insight into the direction of the company and the market through presentations. The Annual Meeting offers employees accessibility to their executive team and the opportunity to express their concerns about the company. Additionally, it offers employees a fun atmosphere to meet their fellow colleagues of which they may have communicated at some point in their work. “The Nacelle” EDPR NA’s Sustainability and Social Committees came together to create a social room at Corporate Headquarters in Houston, Texas. The room, referred to as “The Nacelle” serves as a space for socializing, a place to brainstorm creatively, provide stress relief, and is innovatively funded by the promotion of sustainable behavior through an online marketplace. It was designed according to input solicited from a survey of Houston Employees. “The Houston team overwhelmingly preferred to create a space with a “natural” feel to it,” said Corporate Development Associate Chris Goldsberry. “A small group of volunteers designed the room to inspire creativity, but also tried to respect the wishes of our colleagues by including details like our ivy-covered wall, color choices, exposed wood, and the addition of a porch swing.” The Nacelle’s core
concept, the sustainability marketplace, creates an incentive for department teams to adopt sustainable practices by awarding them credits for their efforts, which departments exchange to purchase items that personalize the Nacelle. Items currently available for purchase via credits include decorations, creativity games, and magazine subscriptions. Department credit totals are tracked by the Corporate Development and Sustainability department. “We initially used the amount of recycled paper and batteries as our determinants for awarding credits, but we’ve expanded to include credit awards for biking to work, and hope to further expand to other waste types and sustainable behaviors,” said Goldsberry. “We will also expand the marketplace to include the ability to send care packages and tokens of appreciation to the sites and field offices so that everyone can be involved.” Other leading companies in the U.S. have
similar spaces which provide employees a space to socialize and brainstorm in a creative inter-office environment and foster camaraderie between staff. “The room will promote sustainability as well as foster some healthy inter-office competition, all while building a room that will grow alongside all of us,” said Adam Renz, External Communications Associate and Social Committee Chair. The Nacelle is planned for the Houston office, but the committees are also exploring ways to spread the concept to other offices in NA. “The Nacelle and the marketplace is the result of the fantastic ideas and support we received from our colleagues,” said Stephan Blasilli, Corporate Development Manager. “Having Houston’s Mayor Annise Parker tour the room was a personal highlight for me. I’m impressed at what we’ve already been able to achieve thus far, and am excited that our plans for the room are only just beginning.”
Landowners EDPR´s projects have a direct impact on landowners, both those who own the land as well as the neighboring community. These stakeholders more closely related to our projects. The engagement starts at a very early stage when the projects are just ideas, and this relationship lasts during the entire life cycle of the projects until decommissioning. The interaction during the development phase is very active and positive, influencing the design of the project. Better engagement practices are always sought. For example, EDPR organized an educational trip to Margonin wind farm (Poland) with landowners from the region of Masovia where EDPR has three wind farm projects under development. The company engages in several other landowner projects throughout the year. EDPR organizes general meetings with landowners. During the development stage of a certain project, EDPR organizes general meetings to introduce the company, explain how wind farms work and present details for the development of the project in that particular region. Throughout the year, EDPR actively interacts with landowners through meetings or written communications such as project newsletters and company updates. This interaction extends to the construction and operation stage, where EDPR makes sure they are meeting expectations and responding to any concerns. 10 onrenew
Powered by nature
renovรกveis
EDP Renewables is a global leader in the renewable energy sector. Powered by nature and our commitment to our communities and the environment, EDPR promotes sustainable development as we generate the energy of tomorrow.
www.edpr.com
online 2 4 hour s in t he li f e of ...
24 hours
Gianluca Veneroni works in the recently inaugurated offices of Milan as the country manager of EDPR Italy. He contributes to the development, construction and operation of wind farms in Italy. He has been with EDPR for over 3 years, however his extensive experience in the energy sector dates back further. Prior to EDPR, Gianluca was the CEO of a holding renewable energy company covering various stages of the energy production cycle through different companies, including manufacturing of equipment such as hydro power turbines and relevant accessories, acting as EPC contractor in RES power plants in wind, hydro and biomass, development of investment opportunities in RES all over Europe, and energy trading activities. The company he worked for also acted as an ESCO (energy saving company) that built and operated cogeneration and trigeneration power plants in industrial facilities. Prior to this experience, Gianluca worked for a company in the waste-to-energy sector which had its own technology and operating as EPC contractor or B.O.T. plants. Gianluca values his current position at EDPR. He is proud to work for one of the top wind energy players worldwide and enjoys the multinational environment of the company. During his spare time, Gianluca enjoys playing different sports, especially football, swimming and skiing. He also enjoys travelling with his family. Most of all, Gianluca enjoys spending as much time as possible with his “female run� family (his wife and three daughters).
GIANLUCA VENERONI Country manager of EDPR Italy
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“One of the aspects I really enjoy of working for EDPR is the possibility it provides me to share experiences with colleagues acting in different legal frameworks and macroeconomic conditions,” says Gianluca.
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Arrives at work
Morning preparation
Handles unscheduled daily issues
Gianluca enjoys his morning coffee and begins his work day.
Gianluca sets up his day´s activities.
Gianluca attends a video conference with the legal department.
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Operation meeting
Lunch Break
Development and production meeting
Gianluca meets with Asset Manager and O&M to discuss status of wind farm in operation.
Gianluca takes his lunch break with different colleagues from the office.
Gianluca meets every two weeks to discuss development.
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Gianluca has a one on one meeting to stay on track with company targets.
Finally after his meetings and phone calls, Gianluca takes a deeper look into open issues and does a summary of the status of the company.
Gianluca heads home to spend time with his family.
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onpeople Get to know your colleagues better
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GARY BOERNER EDPR NA’S CORPORATE ACCOUNT MANAGER
DPR NA’s Corporate Account Manager, Gary Boerner and his team manage the accounting treatment for EDPR NA as well as all of the development projects and G&A accounts. Gary joined the company in October 2009 and attributes the love for his job to his colleagues. Implementing SAP was one of the greatest challenges he has dealt with while at EDPR NA. “SAP proved to be a difficult package to implement and the teamwork involved to make it function properly was enormous,” said Gary. “I am thankful I get to work with such great
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people!” Gary, the youngest of five children, grew up on a farm where his family raised cattle, sheep, and goats. The family grew about every vegetable there is. As a sports fanatic, he spent much of his childhood playing and watching sports. He dreamed of playing sports professionally. As an adult, Gary fills his days off being active with his family. In addition to cheering on the Chicago Bears and Texas Rangers, Gary enjoys running. “I’ve recently taken it up and I really enjoy it,” said Gary. “My wife thinks I am crazy.” Gary met his wife, Brittney, while in 14 onrenew
college. They have been married for five years and have a three-year old daughter. Allie, a busy little girl who talks a lot, keeps Gary on his toes. “She talks about as much as her mom does—I don’t get a lot of air time at the house,” Gary laughs. Prior to joining the company, Gary worked in New York City at a public account firm. While there, he saw Andre Agassi play his last game at the U.S. Open, a dream come true for any sports lover. “That’s something I’ll never forget,” he said. Gary holds a Master Degree in Accounting from Texas State University-San Marcos.
The effort and dedication of our employees allow us to exceed as a group. In each issue, we highlight employees who have demonstrated diligence in their work at EDPR.
riginally from Dominican Republic, Dieris Lebrón moved to Madrid to get her Master´s degree and has been there ever since. She fell in love with Spain and knew she was there to stay. After completing her studies, Dieris worked in a jewelry production plant as a Process Engineer for two years. She decided to move out of the world of production and into the world of utilities. Dieris began her relationship with EDPR in 2007, when she worked as a consultant for NEO Energia (now EDPR). She worked on various consulting projects with NEO up until 2009, where she joined the Procurement Department of the company in the area of purchases of civil and electrical works (BOP). As the company grew, she was involved in all kinds of projects in line with EDP Group standards. Finally, in 2012, Dieris accepted the challenge to work in purchasing for O&M too. Dieris was happy to accept this offer which gave her a broader view of the business and a closer look at synergies in Procurement EDPR. In her current role as Purchasing Manager EU, Dieris ensures that purchases are made under the best conditions of the market required by EDPR, with respect to price, term and quality for each project and always in line with EDP Group standards. Dieiris enjoys the working dynamic of EDPR. She feels her opinions and those of her peers are highly valued within the company. She also enjoys the cultural exchange that occurs on a daily basis. Working with such a diverse group of people, is an everyday learning experience. On her spare time, Dieris likes spending time outside, walking around and taking in the beauty of nature. She considers herself a romantic and enjoys simple pleasures such as browsing through flowers or listening to the birds. She also likes to play tennis, watch movies and travel. She likes to eat well and drink good wine, as most people do! Dieris´advice to new or future employees is to take advantage of the opportunity EDPR is providing where every opinion counts.”
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DIERIS LEBRÓN HEAD OF PURCHASING, EDPR EUROPE
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ontop Ti ps t o help you in y ou r d a ily lif e
Managing a budget. Good management of personal finances is crucial to manage revenue and control expenses, allowing for savings to cover any unexpected circumstances. The goal is to obtain financial independence and improve the quality of life.
1. Make a monthly budget. Register all income and expenses. The balance must be positive.
2. Increase savings. Try to set aside 10% of what you earn. 3. Save some money for possible emergencies. 4. Try to diversify your sources of income. 5. Cut costs. Start by variable expenses (food, clothing, among others). 6. Search, compare and negotiate your loans and insurance. 7. Optimize taxes. Take advantage of tax benefits. 8. Other savings: investing in the long term and learn about the various types of financial products.
FOOD: • Choose seasonal and local products; • Choose fruits and vegetables in bulk; • Cook your meals; • Use your meal leftovers.
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SHOPPING • Make a shopping list and set a maximum amount for expenses. Do not exceed it!; • Compare products, brands and prices; • Be aware of promotions and discounts; • Prefer family packs and generic label products; • Discount stores can be a good shopping alternative; • Take advantage of sales.
COMMUNICATIONS • Give preference to television, telephone and internet package rates. They are cheaper if you need all services; • For your mobile phone figure out your profile and choose the best network and best tariff for your needs.
HOME • Turn off lights and opt for light bulbs that save electric; • Use the washing machine or dishwasher to maximum load at low temperatures; • Unplug appliances (TV, computer, etc.) in standby mode • Reduce water and energy consumption by taking short showers and turning off the faucets while brushing your teeth.
HEALTH • Ask your doctor for generic drugs; they have the same chemical composition as the brand medications but they are cheaper.
TRANSPORTATION • Give preference to public transportation and walk more; • Using your mobile phone device practice eco-driving avoiding unnecessary travel.
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ontarget RUI ANTUNES, Director, Planning & Control, Investor Relations and Sustainability
• Synergy in terms of capital markets and business intelligence • Full alignment of the company´s performance and strategy, and further communicating it to investors and analysts • Enhance forward-thinking capabilities in a constantly changing environment
Rui Antunes, Head of Investor Relations and Sustainability has recently added Planning and Control to his functions. This unique change will perfectly align the company´s performance, strategy and challenges, and further communicate this to investors and analysts. In his words, it will enable EDPR to better tackle the present gap between its intrinsic value and the market perception. This change will also create a stronger bond between the company and its shareholders. “The flow of information and feedback from company-to-marketto-company is of utmost importance as it incites positive pressure for the company to excel and improve every day, providing important tools for us to continue internally challenging the business. We need to keep in mind that at the end of the day, we are all working to create value for our shareholders.” Rui has
vast experience doing so, as he has been recognized, for the fourth consecutive year, by Institutional Investor for Best IR Professional among other prizes won by the company. He looks forward to continue carrying out this success in his new functions. Managing three departments will bring about many challenges for Rui. It will require hard work and organization as well as another level of multitasking. “The variety of information is vast. In one day I may be reviewing the detailed cost deviation analysis for a given month or having a conference call with an investor discussing EDPR’s equity story through 2015” he says. At the end of the day, all the work is interconnected and it gives Rui a clear picture of where EDPR stands and the direction it is taking. The departments are working hard to keep up with emerging trends in the fast paced business world. The Planning 18 onrenew
& Control team is developing Dynamic Forecasting tools to enhance their current forecasting capabilities. The department aims to be able to anticipate deviations to the budget or business plan as well as provide management tools to mitigate impacts, allowing strategic decisions to be made on time. “Forwardthinking is what every company and department must strive to accomplish in today’s competitive and constantly changing environment.” Rui expects to more in-depth knowledge of the company as Director of these three departments. He stresses the fact that he is working with strong teams and individuals, “I expect everyone to work as one unique team, where we share knowledge, promote constant discussion and interaction, and work hard. We will enhance our strategic vision and thinking capabilities; a key factor for professional growth.”
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onchange Employees with the courage to change
SANDRA MAGALHÃES 33 years old HR Business Partner for Portugal and Romania
rom Oporto, Portugal, Sandra Magalhães is currently working for EDPR in Madrid while completing an EMBA from ESADE. Sandra began her career with EDP Group in Portugal in 2007, where she worked for EDP Gas. She then made her way to Madrid to work for the Sustainability and Corporate Development department of EDP Renováveis. In Madrid, she encountered an open culture in a phase of clear business growth. She was happy to join a young and
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Managing Portugal and Romania has given Sandra the opportunity to establish contacts from very distinct cultures. It has become a constant challenge for her to adapt her pose and speech for each culture. She appreciates the support she has received from her welcoming colleagues. “I am extremely fortunate to work with a team whom I can identify with and count on to help solve minor ‘situations’ that emerge on a day-to-day basis,” she says.
Challenges to grow professionally BEGINNING AT EDP GAS IN PORTUGAL, SANDRA HAS MADE HER WAY TO MADRID WHERE SHE HAS HAD THE OPPORTUNITY TO WORK FOR VARIOUS DEPARTMENTS WITHIN EDPR. dynamic team who made her landing in a new country and transition to a new company much easier. Aside from the cultural change, the most radical change has been in areas and subjects. It is a quick transition with a daily hectic pace. Most recently, Sandra transferred to the Human Resources department where she is responsible for Portugal and Romania. Thus far, the biggest change she has faced from this internal move is the amount of daily requests, “It is an area where you are completely available to internal customers. The diversity and amount of topics that arise daily is astounding.” Sandra dealt with this adjustment the first week on the job by getting to know the employees and the issues they manage. 20 onrenew
Sandra enjoys living in Madrid but mostly misses her family, friends and being close to the sea. It is difficult to continue starting from zero, with new people and new themes. However, part of her personal goals is to constantly step out of her comfort zone and take on new challenges. Sandra finds employee mobility to be one of EDP Group´s strengths. According to her, it allows us to learn and enhance our career development. It is a way to motivate employees and allow them to create a wide network of contacts both within and outside of the EDP Group. Sandra advises employees be aware of new opportunities and developments within the company and take on these challenges to grow professionally.
Employee mobility allows us to learn and enhance our career development It motivates us and allows us to create a wide network both within and outside of the EDP Group.
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ontrack EDP World Events
EDPR Presents its Results for 2012 EDP Renewables today announced that in 2012 electricity output increased by 10% to 18.4TWh. Over the last 12 months, the company increased its installed capacity by 504 MWto a total of 8.0 GW. or 2012, EDPR was able to maintain system-wide load factors of 29%, one of the highest in the industry, underlining the portfolio’s superior profitability. By geographical markets, load factors reached 26% in Europe, 33% in the USA and 31% in Brazil.nFY 2012 revenues rose 20% to €1,285 million, based on a strong electricity output increase (10% YoY) and stronger selling prices(+10% YoY). EBITDA grew 17%, reaching 938 million Euros for 2012, in line with strong operating growth, with an EBITDA margin of 73%. EBIT figures show a high growth of 30% to
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reach 450 million Euros, reflecting top-line performance.Adjusted net profit for the FY 2012 was €134.2 million, up 32% on 2011, and EDPR is proposing the first dividend pay-out of 28% over reported consolidated net profit or €0.04 per share. Operational cash flow of €666 million in FY 2012, representing 71% of 2012 EBITDA,which showcases EDPR’s capability to convert financial results into cash generation and its ability to fund growth from cash, which for the first time exceeds annual capex (€612million). Free cash flow was positive for the first time at €33 million. 22 onrenew
At end 2012 EDPR’s debt structure was 92% fixed, with almost 80% of debt maturing after 2018, matching the company’s business model with its cash flow profile. EDPR will continue to focus on projects with top-line visibility, above-average prices and high wind resources, applying a selective growth strategy to improve portfolio metrics. EDPR targets to add around 0.5GW of generating power in 2013 in top quality projects, with ongoing growth in Poland, Romania and Portugal and new capacity projected in France, Italy and Canada.
EUROPEAN DIRECTOR´S MEETING On March 12th, EDPR´s executive committee held its first European Directors Meeting of the year 2013. EDPR directors from the European platform came together in Madrid to discuss the company´s current standing and future initiatives.
EDPR COO João Paulo Costeira led the meeting with a detailed presentation of the company´s present situation. This meeting provided directors an opportunity to share their concerns and ideas regarding the company and its future.
EDPR awarded best place to work in 2013 in Poland Great Place to Work® has recently named EDP Renewables Poland the best place to work in 2013. The award granted was in the category of companies with fewer than 50 employees. Following a study of organizational culture which analyzed equal opportunities, flexibility, integrity and working environment, among other variables, the company was awarded the top score in the Central European country. In response to the award, EDPR CEO João
Manso Neto stated, “This is an extremely important achievement for the company, which has been operating in Poland since 2007. EDP Renewables puts its human capital above all else; we believe that having the best professionals and a pleasant working environment is key to the company’s positive performance”. This is an excellent result taking into account that 2/3 of the evaluation was based on an external survey (Trust Index) sent to all employees and 1/3 on a culture audit. To the question of What makes
EDPR Polska a Great Place to Work, the employees’ comments were related to working conditions (environmental/ atmosphere/colleagues), interest in the business (helps expand and develop the Polish economy); development opportunities (training) as well as good benefits (medical health insurance, social package). “This is not the first award of its kind that we have received, and that motivates us even more to continue to advance in the same direction,” added Manso Neto.
EDPR once again awarded for its Investor Relations EDPR was ranked first place on all levels in the Utilities, Renewable Energy category and second place on its list of Most Honorable Companies in Europe. The recently published rankings evaluate the performance of Investor Relations in Europe. EDPR received eight awards in total including: • Best CEO: buy-side (investors) and sell side (analysts) • Best CFO: buy-side (investors) and sell side (analysts) • Best IR Professional: buy-side (investors) and sell side (analysts) • Best IR Companies: buy-side (investors) and sell side (analysts)
EDPR’s parent company EDP Group also received an important recognition this year. Antonio Mexia, CEO of EDP Group, was recognized as Best CEO. This is a great achievement for EDPR and EDP to be both rewarded for their outstanding accomplishments. In the past, Institutional Investors has also recognized EDPR’s investor relations strategy as one of the best among renewable energy companies and CFO Rui Texeira as best CFO in the sector. The publishing group has recognized IR Director Rui Antunes as best at his job amongst renewable energy companies for four consecutive years. EDPR Investor Relations’ continuous recognition demonstrates the department’s distinctive effort and hard work.
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HOUSTON OFFICE CELEBRATES GO TEXAN DAY
EDPR NA’s Houston office recently took part in a proud tradition known as Go Texan Day, a one-day event established to build pride in Texas and Western heritage throughout Houston and the surrounding areas. Go Texan Day is always celebrated a few days before the Houston Livestock Show and Rodeo kicks off. Houston employees were encouraged to dress in their best Western attire and were invited to join their colleagues for light barbeque bites and drinks in the Twin Groves conference room. The conference room was decorated with traditional Texas and Western-themed items, and food was provided by local favorite Goode Company Barbeque.
EDPR NA Lobbies in Favor of Renewable Energy On February 21-22 Renewable Northwest Project (RNP) and EDPR NA teamed up in Olympia, Washington lobbying in favor of renewable energy. In total, 15 representatives representing eight renewable organizations met with 18 legislative members, including a productive meeting with the Governor and his staff. According to Cliff Hite, RNP’s lobbyist, the meetings helped put a face on the $8 billion of investment already made in the state by renewable energy. The group was able to communicate that long-term stable policy is critical to future clean energy vitality. Eric Melbardis (Kittitas Valley Wind Farm Operations Manager), Johnny Casana (Project Developer), and Wendy McMillen (Executive Assistant) represented
EDPR NA. Melbardis and McMillen are also residents in the state and had the opportunity to meet with legislatives from their districts. Varner Seaman, former EDPR NA employee and new RNP Director of Policy, organized the two-day event with the help of Cliff Hite’s staff. “Over the course of two days, we connected with legislators directly to amplify the role renewable play in creating jobs and economic activity through clean energy in Washington State,” he said. “We wanted to make tangible the depth of investment the renewable energy community has made in Washington to date, and what policies are necessary to continue to be a good place to do business. I believe we succeeded and our time was well spent.” 24 onrenew
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EDPR PARTICIPATES IN INTERNATIONAL INVESTORS CONFERENCE
This month, several members of EDP and EDPR attended the International Utility Conference 2013 held in London. These attendees included João Manso Neto CEO of EDPR and Nuno Alves CFO of EDP, as well as several members from EDP and EDPR´s Investor Relations department. António Mexia, CEO of EDP participated in one of the panels of the conference where they discussed the the impact of globalization of natural gas, an aging nuclear fleet, expanding renewable resources and increasing efficiency.
TREES IN MACGREGOR PARK Many EDPR employees, family members and friends, volunteered to plant and mulch mixed native plants, on the annual event Trees for Houston. In January, the Employee Volunteer Program organized an event with Trees For Houston at MacGregor Park. Together, with 300 other volunteers, 38 EDPR NA employees, family members, and friends planted and mulched 1,000 mixed native plants throughout the park. Maya Nissim, EDPR NA Turbine Performance Engineer and Employee Volunteer Program Committee Member, coordinated the volunteer event and was
extremely pleased with the large turnout of EDPR employees. “It was great to see so many employees and their friends and family members up early on a Saturday to contribute to a great cause,” Nissim said. “EDPR NA has partnered with Trees For Houston several times in the past, and we look forward to working with the organization again soon.” Founded in 1982 as the Live Oak Society,
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Trees For Houston expanded to plant, protect, and promote all of Houston urban forest. The organization continued to grow as the city of Houston grew and has worked hard to see that trees shade neighborhoods, clean air, and beautify streets. The Employee Volunteer Program plans various types of events with many different organizations in the Houston area each month.