Relatorio gestão 2011 uk by Unicer Portugal

Scope

Message from the Chairman

Sustainability in Numbers

Our Profile

A Year of Constant Challenges

Sustainability

Environmental Issues

Social Issues

Economic Issues

Scope

“Communicating with regularity and transparency” is one of the priorities established under our Sustainability strategy, presented publicly in 2011 in the Annual Report. As the market leader in the soft drinks market in Portugal, we have assumed greater responsibilities in the way we presents ourselves, build relationships and communicate. All our Stakeholders are important to us. Therefore they deserve all our respect and dedication in the way we manage their expectations, integrate their concerns and communicate regarding our activity. After a comprehensive Annual Report on our activities which publicly presented our Sustainability Strategy, this year we have decided to produce a more simplified balance sheet, fulfilling the commitment we made to account for the performance achieved in terms of economic, social and environmental indicators. We have already made a commitment to return to the Annual Report next year. However, if you feel the need for additional information and clarifications, or if you wish to make comments and suggestions, please feel free to contact us:

People and Communications Division Unicer Bebidas de Portugal, SGPS, SA Apartado 1044 4466-955 São Mamede de Infesta comunicacao.unicer@unicer.pt www.unicer.pt

Note: this document was prepared under the new Por tuguese Language Or thographic Agreement.

Message from the Chairman

ENSURING SUSTAINABILITY AND PREPARING THE FUTURE 011 was marked by Portugal’s application for financial assistance from abroad and by a set of austerity measures, continuing those previously announced in 2010, which caused a recession of 1.6% of GDP, a sharp increase in unemployment, which affects, at this point, 15% of the population, and 35% of young people. As a result, domestic consumption fell sharply. In beers, consumption fell by about 7% of volume. Other beverages have performed similarly (carbonated water and soft drinks) or worse (bottled wine). In a year of extreme difficulty, Unicer remained strong in the domestic market - where it shared the lead in beer and reinforced its leadership in packaged waters, the Pedras brand becoming, for the first time in its 140-year history, the absolute leader in value among all packaged water brands - and grew substantially in foreign markets. The Super Bock brand regained its position as the best-selling Portuguese beer brand worldwide with a total volume exceeding 300 million litres. Net sales fell 2% to 486 million Euros, EBIT fell slightly to close to 54 million Euros and net income exceeded 24 million Euros. Even so, free cash flow surpassed 40 million Euros and paid down debt fell 20 million Euros, dropping to 190 million Euros, a level 120 million Euros lower than in 2006 and which allows Unicer to overcome reason-

ably comfortably the limitations experienced in accessing financing markets. Over the past six years, corresponding to the two terms of office of the current Executive team, the Unicer Bebidas business released about 300 million Euros invested as follows: debt reduction of 120 million, dividend payment of 120 million Euros and investment in Vidago and Pedras Salgadas tourist parks of around 70 million Euros.

When taking stock, it is worth devoting a few words to the future. I shall do so starting with our current challenge: the investment of 80 million Euros which will allow us to concentrate all production of Beer in Leça do Balio, in a modern factory, with expanded and renovated filling lines, with an integrated automated warehouse, a new high-performance and environmentally efficient power plant, rational lay out and an office building that will bring everybody together within one space. With this investment, only made possible by the courage shown by shareholders at a time of depression in the domestic economy in believing in Unicer and Portugal, the

Company is preparing its future for the next 20 years, for the next generation of managers and workers. Apart from a technologically modern plant, we will gain the most competitive industrial and operating costs structure in the brewing industry in Europe.

We sell more than 75% of beer exported from Portugal. The development of Unicer must be based, admittedly, to grow outside Portugal. The consolidation of this international focus should continue, and is worthy of investment in People and Markets.

Equally important is the investment in the relaunch of our main Brand: Super Bock. A renewed identity, an advertising communication plan aimed at recovering a distinct status among consumers and a commitment to excellence in visibility at the point of sale. All ingredients prepared with the aim of ensuring preference for the Brand among customers and consumers in this new decade.

Thank you to all Unicer Staff, because only with the best Team was it possible to make a difference. A very special thanks to our shareholders - Viacer and Carlsberg - for the confidence they have always shown in the Management Team and the stimulus that has always helped us to succeed, especially in such demanding times. A final thank you to all partners in this value chain: farmers, suppliers, customers and, ultimately, consumers, who chose us by selecting our brands in each purchase and act of consumption. This is the ultimate test of all our work.

Preparing for the Future is also dealing with established and ongoing plans to make Unicer a 1000 Million company, achieving our target turnover by the end of this decade. Among the many projects, I would like to draw your attention to the commitment to internationalising the Pedras Brand, with its entry into Brazil and North America, the strengthening of investment in African markets, in Angola, Cape Verde, Guinea and the MozambiqueSouth Africa axis, and the consolidation of our presence in Europe in countries such as France, Luxembourg, Switzerland and Spain, plus the growth plan for the United Kingdom. In 2011, Unicer surpassed the milestone of 200 million litres exported!

António Pires de Lima Chief Executive

2011

Sustainability in Numbers

CONSOLIDATED FINANCIAL INDICATORS ECONÓMICOS Unit of Measure

2007

Structure of Profit accounts Sales2 Gross Margin Ebitda Operating Profit2 Current Profit/Loss Current Profit/Loss After Taxes Net Profit Excluding Minority Interests Earnings per Share Cash Flow (Net Cash Flow)

103 Euros 103 Euros 103 Euros 103 Euros 103 Euros 103 Euros 103 Euros Euro 103 Euros

495.315 221.027 92.053 60.923 35.727 27.934 27.397 0.55 48.834

510.597 215.201 84.248 52.314 27.382 19.118 18.238 0.36 -7.715

485.690 198.422 85.970 49.300 30.740 20.914 20.200 0.40 34.963

496.775 216.407 92.104 57.926 43.535 31.058 30.357 0.61 42.732

485.701 192.438 84.825 53.077 36.018 24.852 24.167 0.48 40.403

Balance Sheet Structure Fixed Assets Realisable in the Medium and Long Term Current Assets Total Assets Equity Minority Interests Financial Liabilities Other Liabilities Equity + Liabilities

103 Euros 103 Euros 103 Euros 103 Euros 103 Euros 103 Euros 103 Euros 103 Euros 103 Euros

293.348 11.263 201.883 506.494 131.065 3.746 224.869 146.814 506.494

329.914 5.394 198.906 534.214 126.675 3.719 257.630 146.190 534.214

323.103 6.979 180.739 510.821 127.595 3.644 238.402 141.180 510.821

307.324 8.088 199.186 514.597 128.147 3.709 233.201 149.541 514.597

299.410 6.026 178.855 484.292 132.215 3.745 209.425 138.906 484.292

Personnel Management Average Number of Employees3 Number of Employees at 31 December3 Average Age Sales Productivity 4 Productivity of GVA 5 Personnel Costs + Temporary Work Training Volume 6

2008

2009

2010

2011

Water Consumption Greenhouse Gases Wastewater (COD) - before treatment Wastewater (COD) - after treatment Treatment Efficiency Waste Recovery Rate (%) By-products Recovery Rate (%)

2007

2008

2009

2010

2011

GJ MJ/hl m3 hl/hl Ton kg/hl Ton kg/hl Ton % Ton % Ton %

n.d. n.d. 2.740.133 3,8 n.d. n.d. 5.444 0,8 128 98 24.903 94 63.002 100

884.868 125,8 2.587.208 3,7 89.977 12,8 4.836 0,7 117 97 20.922 99 54.206 100

821.407 122,8 2.504.516 3,7 71.115 10,6 4.470 0,7 179 96 30.977 96 51.476 100

708.633 104,8 2.490.667 3,7 61.509 9,1 4.373 0,6 217 95 21.333 95 52.951 100

583.119 88,4 2.150.397 3,3 48.806 7,4 4.067 0,6 157 96 17.213 95 51.954 100

NOTAS: 1 Inclui I.E.C. 2 Resultado Operacional antes de itens especiais 3 Inclui Efetivos, Contratados e Temporários 4 Vendas (com I.E.C.) per capita 5 VAB per capita 6 Os valores de Volume de Formação para os anos de 2007 e 2008, foram revistos de acordo com fórmula de cálculo

Nº Nº anos 103 Euros 103 Euros 103 Euros (nº horas x #participantes ação) Nº %

2.085 1.864 39 238 73 64.035 29.360

1.816 1.689 39 281 82 59.969 24.003

1.678 1.521 39 289 87 55.695 24.525

1.625 1.576 39 306 95 57.855 37.664

1628 1503 39 298 87 52.886 39.439

122 4,7

109 4,4

110 4,9

84 4,3

69 4,27

Return on Investment 7

12,1

10,1

9,4

11,3

10,6

Return on Equity Gearing 9

% %

21,1 168,5

14,2 200,2

15,9 183,7

23,7 182,0

18,6 158,4

Accidents with Time Off Work Absenteeism

Environmental Total Consumption of Primary Energy

Unit of Measure

atualizada, de modo a que exista comparabilidade nos 5 anos apresentados. 7 Racio Resultados Operacionais sobre o Capital Médio Utilizado 8 Para este cálculo foi tomada a média do Capital Próprio no início e fim do ano 9 Passivo remunerado expresso em % do Capital Próprio n.d. dados não disponíveis GJ – gigajoule MJ – megajoule Hl – hectolitro Kg – kilograma m3 – metrocúbico Ton - toneladas

Indicator

Our

Profile We are the largest Portuguese soft drinks company. The beer and water businesses are in our sights, framed within a multi-brand and multi-market strategy. Wines, soft drinks and tourism form part of our complementary businesses, also focusing our attention. We are Portuguese. We are proud to say that the majority of our capital is Portuguese.

Our country continues to be our majority market, but our international operations are taking our brands increasingly afar.

In Portugal, we have laid down our roots in 11 operations centres from the north to the south of the country, with the hub based in Leça do Balio, Matosinhos. Leça do Balio, Santarém, Melgaço, Vidago, Pedras Salgadas, Caramulo, Castelo de Vide, Envendos, Lisboa / Miraflores, Lisboa / Tojal, Póvoa de Lanhoso,

Major Emigration Destinations Major Sales Destinations

Inglaterra, França, Angola, Palmela. VIACER:56% VIOLAS:46%

CARLSBERG:44% ARSOPI:28%

BPI:26%

More than 50 countries involved in in-

- Europe: France, Switzerland, Spain, Luxembourg, Germany, Britain, Belgium and Andorra.

ternationalization bear witness to our

- Africa: Angola, Cape Verde, Guinea, Namibia, S. Tome and Principe, Mozambique, South

consistent strategic focus on exports

Africa, Equatorial Guinea and Morocco.

and form the stage upon which we exhibit our assets: Super Bock, Cristal, Água das Pedras and Caramulo are our strong brands overseas.

- America: Canada, United States, French West Indies, Brazil, Bermuda, French Polynesia and French Guiana. - Asia: Macao, Japan, China, Australia, Jordan, India, East Timor, Dubai, Montenegro, Philippines, Hong Kong, South Korea and Singapore.

Our Network

As mentioned above, all our Stakeholders are important to us. Therefore, we are dedicated to building strong and lasting relationships based on dynamics and initiatives that build bridges and allow us to have more efficient, clear and transparent communication.

CONSUMERS

SUPPLIERS

Confidence and satisfaction with Implementation of solutions generating competitiveness and products/streamlining of sustainability for both partiesâ&#x20AC;&#x2122; efficient methods of communibusinesses cation . Reinforcement of partnerships . Market Studies with main suppliers . Consumer Communication Line . Unicer Site/Accessible Unicer Site . Process monitoring . Brand name sites . New products/innovation . Visits . Commercial communication

SHAREHOLDERS Value creation . Business strategy . Periodic meetings

MEDIA OUTLETS Transparent and satisfactory relationship; company performance sharing . Meetings with journalists . Replies to requests for information . Provision of easy access to information (media centre)

CUSTOMERS Satisfaction with products and services; relationship of trust Hospitality Sales Outlets . Consumer Communication Line . Accurate service . Service + AT . Customer service level assessment . Customer satisfaction surveys . Customer Audits . Unicer on the Street . Unicer Direto TAKE HOME Sales Outlets . Customer and back office service . Customer service level assessment . Customer satisfaction surveys . Visits . Unicer on the Street

Distributors . Excellence Programme . Customer and back office service . Customer service level assessment . Customer satisfaction surveys . Visits . Unicer on the Street

EMPLOYEES Employee development; work-life balance; providing adequate working conditions. . Clarification of functions and roles . Implementation of improvement initiatives arising from the employee satisfaction survey . Culture and Climate survey . Improvement and greater efficacy of communication platforms . Voluntary Projects . Christmas Project . Education . Career development . RUMO performance management model . Unicer on the Street . Unicer Experience

UNIVERSITIES/ SCIENTIFIC INSTITUTIONS/ SECTOR-BASED ASSOCIATIONS Encouragement of dialogue by establishing partnerships . Cooperation agreements . Reply to studentsâ&#x20AC;&#x2122; requests for information . Visits

LOCAL COMMUNITY Preservation of the Environment; contribution towards its success and development . Project for supporting creative industries . Granting of sponsorship/support . Patronage . Christmas Project . Projects with local communities . Future Porto . Cais Recicla Project . Visits

ORGANISATIONS Optimisation of mutual interests in an interdependent context . Periodic meetings

OFFICIAL ENTITIES Relationship based on trust and transparency . Strict compliance with the prevailing law . Supply of Information

What do they think of us? The opinion of those who belong to and interact with our operations is important to us. Throughout the year, in different areas of the company, we conduct satisfaction studies that reveal how we are perceived and our stakeholders’ expectations towards us. With the release of the Annual Report 2010, we did not want to miss the opportunity to hear what they think and expect from us in terms of Sustainability. We launched the challenge to all our Stakeholders. We could not fail to publish here some opinions of those who kindly responded to our appeal.

Note: survey conducted between July and late September 2011 following the issue of the Annual Report 2010.

Sustainability Reporting and Stakeholder Contact Question 1 A Unicer comunica de uma forma contínua com os seus Stakeholders de forma a identificar, entender e resolver as suas preocupações? Indique por favor alternativas de comunicação que gostaria que a Unicer adotasse junto dos seus Stakeholders.

Sustainability Performance Question 2 In your opinion, does Unicer have a clear view of its economic, social and environmental responsibilities? What practical examples justify your answer?

“Unicer is very clear in defining and communicating the 6 priorities that guide its commitment to the future. Those priorities are established very objectively in terms of relevance, objectives, impacts and how to measure compliance.”

“Yes. Workshop with the participation of different Stakeholders for discussion and analysis of the Sustainability Strategy and results.”

“Yes. Regular meetings with Stakeholders. Publications/newsletters on the evolution of commitments assumed.”

“Yes. Applications, why not? Consultation is provided and mobility is assured. Besides that eventually the costs would be reduced.”

Employees

Business Operators

Stakeholder Group

Stakeholders Group

Business Operators Stakeholders Group

“The results derived from best practices; principles/values that underpin the institutional linkages with different Stakeholders; initiatives and programmes to support education. The systematization of all these principles and initiatives in Unicer’s 6 priority commitments.”

“The six sustainability priorities established and the assessment criteria laid down show that sustainability forms part of company strategy.” Non-Governmental Organisations Stakeholders Group

“Yes. Priorities 1 and 4 may use Unicer products as a vehicle of communication. Consumers do not have the perception that this vehicle is used (very) actively.” In addition to the full sustainability report, separate communications directed to key groups of stakeholders could be released containing information most relevant to each of them.”

Suppliers

Business Operators

Stakeholder Group

Stakeholders Group

Our commitment to external initiatives. To participate actively in associations related to our business, or working in priority areas for Unicer, forms an important part of our work. In conjunction with various organisations constantly seeking to improve our way of doing business and contribute to a better world.

1. Social Responsibility and Sustainability Area · BCSD Portugal – Business Council for Sustainable Development We are founding members of the Board of this association, whose mission is to promote the role of businesses in creating a world that is sustainable for businesses, civil society and the environment. · EPIS – Businesspeople for Social Inclusion Created in 2006, EPIS’s activities focus on Education and, specifically, on combating school failure and dropout. A member since 2007, Unicer takes over the presidency in 2010 in the person of Chief Executive, António Pires de Lima, thus strengthening our strategic investment in Education in the area of Social Responsibility. · GRACE – Group for Reflection and Support for Corporate Citizenship Founded 11 years ago, GRACE’s mission is to support business management in developing socially responsible practices. Our involvement began in 2005, with direct participation in the Board since 2007.

2. Under the scope of our business · APCV – Portuguese Association of Beer Producers This is the Association representing the sector, specifically companies that, in Portugal, operate in the manufacture and/or bottling of beer. António Pires de Lima, Chief Executive, chairs the Association. · APIAM – Portuguese Natural Mineral and Spring Water Association This is the association that represents companies engaged in producing, packaging and marketing natural mineral waters, spring waters and other packaged waters in Portugal. We are members of the Board. · PROBEB - Portuguese Association of Non-alcoholic Soft Drinks The mission of the association, of which we are Board members, is the promotion and defence of sustainable development in the non-alcoholic soft drinks sector and the construction of structured relationships with relevant partners. · APAN - Portuguese Association of Advertisers Its specific goal is to defend, safeguard and promote the interests of its members in all aspects related to commercial communication. · CENTROMARCA - Portuguese Association of Branded Products Promotes and supports the Brand, being concerned with everything that may influence how BRAND products reach the consumer. Its mission involves creating an environment of fair and intense competition for brands that encourages innovation and ensures maximum value for consumers.

A year of constant

CHANGES Affected by the difficult economic circumstances the country is experiencing and which led to an acceleration of the fall in the beverage market, 2011 was a year in which our business demonstrated a balanced performance, achieved by the performance of exports offsetting the impact of the fall in the domestic market (according to data from Nielsen, in 2011 the real volume will have fallen by around 7%). Compounding this scenario, there was also a significant increase in raw material costs during the year.

The results achieved by Unicer did not disappoint and the challenge of balancing our business was reached in 2011: 53.6 million Euros in operating income; positive performance of Free Cash Flow (40.4 million de Euros) and a debt reduction of 20 million Euros.

And as challenges are a constant in the life of any business, “Nothing is Impossible” was the motto for the Employees Meeting that brought together everyone in the company for the first time. The management of People was also successful: our RUMO performance appraisal system showed its worth in the results of the “C15” and “Give us a clue” Studies, an employee satisfaction survey, which demonstrate the pride in belonging to the Company and the commitment required of each employee in order to achieve our vision: “Wherever we are, Unicer are our brands will always be the number 1 Choice”. In the domestic market, consolidation of our distribution network and investment in direct operations enabled us to improve our key performance indicators. 2011 was also marked by the internal and external communication of Unicer’s sustainability strategy, which outlined the pillars of our priorities in relation to economic, social and environmental issues, and committed the whole structure of the company to the definition of objectives, indicators and targets, which represent the public commitments undertaken by Unicer. In short, a difficult year, but one that proves to us that our commitment to internationalisation effectively translates into a sustainable future for Unicer and the achievement of our ambition to reach a turnover of 1,000 million Euros at the end of this decade.

6 Prioridades, 1 só estratégia. A nossa ambição é ser um exemplo no que às questões sociais, ambientais e económicas diz respeito. Comunicámos em 2011 a nossa estratégia de sustentabilidade. O envolvimento de todos os que fazem a Unicer é fundamental.

To provide the consumer with an informed choice from an innovative and sustainable portfolio

To guarantee service quality and share values with business partners

Priority

To attract, retain and encourage employee talent

Priority

To reduce the ecological footprint of business processes

Priority

is our past, present and future path

2011 was the year of communication, both internal and external. Our priority was to publicise our commitments and objectives in this field. And as we are committed to the future, we want to share our mission, involving all our Stakeholders in its implementation.

To support the development of local communities

Priority

Sustainability

Approved in February and communicated to the entire structure at the first Employees Meeting, the Sustainability strategy clarifies the guiding principles of our actions, taking into constant consideration environmental, community and economic factors.

To communicate regularly and transparently

COMMITMENT

OBJECTIVE

Priority

To reduce the ecological footprint of business processes

INDICATOR

GOAL

To support the development of the Local Communities

COMMITMENT

2010

2011

2012

OBJECTIVE

INDICATOR

GOAL

2013

2010

Reference value

Objective

Value achieved

Objective

1st half

Objective

Reference value

Objective

Value achieved

Objective

1st half

Objective

86.1

< 84

Encourage co-efficiency of processes and products by promoting the rational use of energy

Reduce energy consumption in processes and products

Energy consumption (MJ/hl)

104.8

104

88.4

< 86

Minimise environmental impacts

Promote the reduction of emissions into the air and water

CO2 emission rate (kg/hl)

9.1

7.4

n.a.

Once the proposed objective for the three-year period was achieved in 2011, we will proceed to the next reassessment cycle. Encourage the eco-efficiency of processes and products by promoting the sustainable use of water

Reduce energy consumption in processes and products

Water consumption (hl/hl)

3.7

3.5

3.3

< 3.2

3.2

< 3.1

Promote integrated prevention and control of pollution

Reduce fuel associated with operating activities

Fuel consumption reduction rate (indexed to logistics) (%)

6.8

< 6.7

7.1

2% reduction versus 2010

n.d.

3% reduction versus 2010

2012

2013

Support the development of local communities

Promote a strong link with local communities, supporting and developing educational projects and encouraging creativity and innovation

Number of students covered by education and innovation/creativity projects

1237

2226

2530

2700

3176

> 2800

Develop and promote the cultivation of raw materials for our products in Portugal

Promote cultivation of two-row barley in Portugal

Cevalte Project: productivity of the contracted areas (%)

1.4

1.6

1.26

1.4

n.d

1.6

n.a.

REMARKS

2011

REMARKS

“The 2011 result fell far short of the goal set due to excessive rain that occurred during the Campaign last year (November 2010 to June 2011). Monthly precipitation levels were mostly above the average for the last 10 years, which prevented basic operations to maintain the crops from being performed, thus compromising production. There was also a further aggravating factor, which was that the storm that occurred in the first days of June and permanently damaged some areas of crops, preventing their harvesting. Thus, the goals for 2012 and 2013 have been revised taking into account this climatic volatility. For example, the 2011/2012 campaign was affected by a severe and extreme drought in the areas of greater implementation of the crop.

REMARKS

The reorganisation of logistic routes (specifically the closure of the logistics platform in Vila da Feira in early 2011) led to an increase in routes and, consequently, an increase in associated fuel consumption.

n.a. - não aplicável

Priority

n.d. - não disponível

To attract, retain and encourage employee talent

COMMITMENT

To provide the consumer with an informed choice from an innovative and sustainable portfolio

OBJECTIVE

INDICATOR

GOAL 2010

COMMITMENT

OBJECTIVE

INDICATOR

GOAL 2010

Attract, retain and promote employee talent

Develop a Personnel management policy capable of attracting and retaining the best employees

“Employee voluntary departure rate Management (%)

2011

Reference value

Objective

2 1% (15 pax)

2012 1st half

2013

Value achieved

Objective

1.4

n.d.

1,3% (20 pax)

2,5% (38 pax)

1,3% (20 pax)

n.d.

2% (30 pax)

The number of employees in situations of internal mobility in 2011 is synonymous with a renewal of structures that took place during the year. Improve Unicer as a Team, by evaluating employees’ commitment and alignment with the company’s strategy

Employee Commitment level index EAS/Total Unicer (%)

n.a. 2009 value - 75 revised 2009 value - 86 (see remarks)

n.a

“ In 2011, the assumptions for calculating this indicator were revised to ensure alignment with the entire Carlsberg Group. In 2009, the calculation of Employee Commitment/Engagement was not taken into account with all the factors that comprise it today. According to information from Towers Watson, if the calculation had included all current factors, the value of the Commitment/Engagement indicator in 2009 would have been 86%.

Reduce the no. of workplace accidents causing more than 1 day’s absence

Workplace accident rate with over 1 day’s absence - LTAR. (no. x 1000/FTE)

58.4

2013

Reference value

Objective

Value achieved

Objective

1st half

Objective

Develop products whose innovation factor has added value for consumers

% of products launched in the past 3 years in total Net Sales

40.81

39%

41.64

42.44

Promote healthy lifestyles

Promote and encourage responsible consumption of beverages which, when consumed in excess, may damage public health

Investment in campaigns and initiatives on responsible consumption

Promote active and healthy life

see remarks

Promote active and healthy life

see remarks

Development of initiatives

REMARK

In line with previous years, throughout 2011, we developed a set of actions aimed at increasing awareness among consumers and the general public of the importance of adopting an active and healthy lifestyle. Examples are: improving nutritional information on packaging and online media; promoting products with Low Glycemic Index (Pedras Sabores and Sabores Vitalis range); improved nutritional profiles of Vitalis Sabores, Frutea, Frutis and Snappy Cola; support for the brand Vitalis and sports competitions, specifically marathons, runs and walks; communication around the theme of social networks, encouraging employees to participate in sports. Promote the sustainability of our packaging

Development and promotion of Eco-friendly packaging

Promotion of Returnables

n.d

Implementation of the methodology for assessing the ecological footprint of the products

Assess phases with higher environmental impact and seek more efficient solutions in environmental terms

Product life cycle assessment

n.a.

Vitalis

n.a.

Super Bock

n.a.

n.a

REMARKS

Reduce workplace accidents and their severity

2012

Provide consumers with an innovative and sustainable portfolio

REMARKS

Encourage and reinforce feedback

2011

46,7 (-20%)

50.2

< 44

n.d.

Setting this goal in 2010 was based on the market environment. The changes that have occurred over the last two years and, above all, the operative measures we have implemented are helping to minimize the environmental impact of our brands. Examples are reducing the weight of our packaging, its reformulation and the “Zero Plastic Pallet” project, among others. To this effect, it was decided to refer the implementation of this project for further assessment.

< 44

Priority

To Guarantee Service Quality and Share Values with Business Partners

COMMITMENT

OBJECTIVE

INDICATOR

GOAL 2010

Make Unicer business partners’ 1st choice

Achieve customer satisfaction

Priority

Promote the environmental efficiency of our processes

Include environmental and social criteria in the company’s purchasing processes

2011

2012

2013

Reference value

Objective

Value achieved

Objective

1st half

Objective

Customer Satisfaction increase overall level of Satisfaction

763 60% on trade 40% off trade

773

n.d.

Level of customer satisfaction with Unicer’s performance in terms of sustainability and communication

63%

70%

82%

≥82

n.d.

≥ 82

Initiatives developed in responsible procurement

n.a

Development of the subject of responsible procurement

Initiation of the benchmarking analysis process

Development of the subject of responsible procurement

Benchmarking process

to be defined

To communicate regularly and transparently

COMMITMENT

Regular and transparent communication

OBJECTIVE

Full compliance with the legal requirements and best practices in financial and nonfinancial reporting, exceeding all relevant Stakeholder expectations and needs.

INDICATOR

Sustainability Report GRI level

GOAL 2010

2011

Reference value

Objective

Value achieved

2012 Objective

1st half

2013 Objective

n.a. (Sus. Rep. 2007 classif. C+)

C+

B+

n.a.

B+

REMARKS

This year we decided to create a more streamlined report, which was not subject to external verification. Thus, the GRI classification level does not apply. Promote regular communication with our Stakeholders

Guarantee the satisfaction of our Stakeholders through regular and quality communication

Stakeholders’ level of Satisfaction with Unicer’s information supplied

n.a (2008 consultation - 55%)

60%

Consultation process not conducted

65%

Consultation process not conducted

to be defined

For each priority, activity plans and quantifiable objectives have been established, also justified by the capacity to create economic value over the long term. The results achieved in the 1st year relation to the different targets show us that we are on track, and that in terms of some indicators, mainly related to environmental efficiency and people management, the efforts we have made over the year have resulted in the attainment of targets set for 2013.

We consider Sustainability as a process of continuous learning. The domestic environment, but especially the external environment, have often led us to make adjustments, slight deviations of course, adopting corrective and sometimes more ambitious measures. Always with a focus on continuous improvement and meeting our commitments. Again, we appeal for your contribution, through comments and suggestions.

REMARKS

For the same reason, we have also opted not to conduct the process of surveying Stakeholders. However, we reiterate that their contributions are important, so we appreciate any comments and suggestions they may wish to submit to us. Regular and transparent communication

Facilitate and improve the financial reporting of environmental and social aspects

Implementation of the Environmental Accounting System

n.a

Development of Phases 1 and 2 of the project

Completion of Phase 1 and development of Phase 2

Completion of Phase 2

in progress

Conclusion and implementation of the System

REMARKS

In 2011 we move forward with the preparation of the project, which included establishing the methodology and respective schedule (Phase 1). We started the design and implementation phase, which included steps such as the identification and characterisation of needs in terms of internal and external reporting; characterisation of environmental costs and benefits; preparation of a checklist and methodology for collecting information from the company; and developing maps to obtain environmental data (Phase 2).

EnvironmentaL Issues

Environment: good results in terms of environmental efficiency. The framing of Environmental Management, ensured through Unicerâ&#x20AC;&#x2122;s Integrated Quality Policy, establishes three guiding principles for environmental activities: 1. To promote the prevention and integrated control of pollution; 2. To promote the environmental efficiency of processes and products through the sustainable use of water, the rational use of energy and the integration of environmental criteria in the selection of raw material and packaging; 3. To minimise environmental impact, promoting the reduction in polluting emissions and giving importance to solutions of reuse and recovery. For the 2011/2012 two-year period, objectives remain environmental management, accident prevention, reduction in water and energy consumption, promotion of environmental efficiency in packaging and the improvement in waste separation. The year 2011 ended with excellent results at the environmental level, a consequence of the efforts to modernise and improve efficiency in the use of natural resources like water and energy in production processes, which we have been pursuing with commitment and persistence over the last few years.

Particularly noteworthy compared to the year 2010:

water consumption decreased by 12%, The specific

16% reduction in specific energy consumption,

which fell to 88.4 MJ/hl, resulting in an

18% decrease in total consumption of all energy sources,

dropping to 3.3 hl/hl, representing a

saving of more than 340 000 m3 of potable

51,954 tons of

by-products

generated were sent to the

recovery system in total;

water;

totalling 583 119 GJ;

small rise in the volume of wastewater generated, the reduction in its pollution load (kg There was a

95% of waste

separated and sent for

greenhouse gas emissions into the In terms of

recovery processes;

We generated 4120

fewer tons of waste, a drop of 17% in specific terms;

of COD/hl) being notable, resulting in better management of losses in production processes.

atmosphere, improvements in energy savings resulted in a CO2 emission rate of 7.4 kg/hl, representing

a reduction of 19%;

But our efforts are not confined to projects aimed at improving the environmental efficiency of natural resources in terms of production processes, which cause significant environmental and economic savings in favour of the desired sustainability. We regularly identify the important environmental aspects arising from the operations, products and services undertaken in order to allow the control measures adopted to be reassessed with a view to minimising their environmental impact. Environmental audits are periodically performed, with the aim of verifying if the level of control in the management of water and energy consumption, gas emissions, waste production and accident prevention is adequate in light of the desired objectives. Unicer maintains an environmental management system certified based on the ISO EN 14001 standard since December 2010, which is designed to consolidate these practices and allow the recognition of the path of continuous improvement that we foster. The development of the environmental accounting system established under our Sustainability Strategy is underway according to the schedule given at its launch. Thus, Phase 1 – Design and Implementation, was 100% completed, with phase 2 currently in progress, which will allow us in 2013 to have the system ready to go

More Sustainable Packaging In 2012, we continued our path of reducing the environmental impact of the packaging of our products, making them lighter, easier to transport and incorporating recycled materials.

Painel de Indicadores Ambientais Ano 2011 Consolidação Unicer (Produção)

We reduced the thickness of 500ml aluminium cans, which allowed reductions in their weight in the order of 2.5%. We increased the incorporation of recycled material in paperboard. As part of the “Competitive” project, we again reduced the weight of the 5L PET Carboy (Vitalis and Caramulo) (-6%) and the 1.5L PET Caramulo Bottle (-9%).

this we have tried to achieve more visually pleasing shelf displays for the consumer, as there is no longer accumulation of packaging waste as the product is being sold. In addition to achieving excellent results in terms of reduction of packaging materials (70% less plastic film, and 29% less paperboard), the solution developed allowed us to achieve considerable gains in terms of stability of the pallet and increased efficiency in logistics and transport operations, given the increase in the quantity of product per pallet (30% more).

We have also developed the Zero Plastic Pallet project involving the study of solutions that allow removal of all plastic from secondary and tertiary packaging of non-returnable bottles Mini 6-pack and Mini 10-pack pallets. The main objective of this project is to facilitate the purchasing process, eliminating barriers and obstacles for the consumer to removing the packs from the shelf. By doing

SOCIAL ISSUES

Engaging, developing and communicating to manage our People. “Unicer’s People are one of our biggest assets and our leading ambassadors”. It is on the basis of this principle that we work daily to retain and leverage the talent of those who choose “our house” to develop their professional activity. We want committed People. We want People who work with passion. People who feel Unicer, our culture, our brands and our teams as the embodiment of “The best company to work for”.

2011 was a year of consolidation. A year of sharing. A year of celebration in which we were able to show that, together, we are able to counter the most adverse conditions and achieve the best balance at year end. Encouraging a culture of feedback, engaging our employees and leveraging their talents were the most significant drivers in 2011 as regards the management of People.

On our side, we do everything to give them the ideal tools to enable them to boost Unicer as the leader in Portugal and in target markets.

2011 in pictures

How many we are and how we are doing 2011

4,6% de diminuição

1503 employees

face a 2010

(at 31 December 2010)

1286

217

full time staff

contracted

14,4%

of the company’s human capital (includes Tourism)

24,2%

female (as a result of the specificity of the market in which we operate)

4,27% absenteeism

75,8%

6,26%

male employees

turnover rate (beverage)

24,5%

7,45%

union members

leaving rate (beverage)

Nothing is impossible! That was the motto of the meeting which brought together, for the first time, all of our People. It aimed to celebrate achievements and appeal to the strength of this great Team to surpass themselves in the coming year.

The data relating to the turnover rate and leaving rate exclude Tourism, since it is an area completely different from Unicer’s main activity, representing a turnover rate that is quite high and characteristic of that sector.

Feedback culture We again applied the “C15” questionnaire, a survey organised by Carlsberg in partnership with Towers Watson, with the aim of evaluating the impact of the leadership style on the level of commitment of employees and their alignment with Company strategy.

Restaurante Autêntico With a view to improving conditions and welfare, we restyled the Leça do Balio Restaurant. A new, modern and welcoming space took form, which marked the start of the project to remodel and modernize Unicer facilities.

Go RUMO! One year after its launch, RUMO Unicer’s Performance Management System is increasingly part of our lives, becoming a valuable management tool in aligning and developing employees.

De 26 de setembro a 7 de outubro!

Committed to Unicer. This is one of the main conclusions from the “Give Us a Clue” survey, carried out between September and October. The commitment demonstrated by our People, which reached 91% (in 2009, it was 81%), translates, among other things, into pride in belonging, loyalty and willingness to continue working for the Company.

Modernisation and involvement. We have strengthened our investment in continuous improvement, the modernisation of processes and the involvement of employees. The new contents of the Employee Portal (Employee Self Service) are a good example of this effort: the ability to query and update personal details, access statements, collections and query information on costs and assets at the service of the employee.

Employee portal

Occupational Safety, Hygiene and Health

Elimination e.g. eliminating unsafe machines or products.

Replacement e.g. task automation to remove the operator from the source of risk; job rotation.

Technical/engineering controls e.g. protection/blocking of machines; detection systems; lay-out of the premises.

Anchoring our culture on the principle of reducing the risk of accidents at work and occupational diseases is one of our priorities, so we have established as guiding principles in this area:

1. To promote the reduction of workplace accidents and their seriousness; 2. To promote the reduction in injuries and occupational disease; 3. To establish high safety levels for workplace machinery and equipment; 4. To ensure the presence of safe workplaces, systems and working practices. For the biennium 2011/2012, we established as objectives the reduction of accidents and certification of our management system according to the OHSAS 18001 standard. In this way we intend to drive the adoption of best practices for the prevention of occupational hazards. Priorities for action in terms of control measures to be ensured are established by applying a methodology for identifying hazards for each task performed and levels of acceptability for those risks. The definition of control measures or modification of measures already implemented aims to minimise risks according to the following hierarchy: 1. Elimination 2. Replacement 3. Technical/engineering controls 4. Signalling/warning 5. Personal protective equipment

Signalling/warning e.g. audible alarms; safety alerts on machines; safety signs posted in the area.

Personal protective equipment e.g. goggles; gloves; safety boots; ear muffs

Environmental audits are periodically performed with the aim of verifying if the level of control in relation to safety conditions and accident prevention is adequate in light of the desired objectives. The results obtained show a gradual improvement in both the number of accidents and their severity, also resulting in a reduction in associated days of time off work.

Education and Creativity. An unbeatable team. â&#x20AC;&#x153;More education. More Creativity.â&#x20AC;? This was the motto that accompanied us throughout the year in social responsibility activities undertaken in the communities to which we belong. Combating school failure and dropout and promoting the creative economy in Portugal are our contribution to the change that is required on a daily basis in order to create a better world.

But we are fully aware that there is still much work to do. Be it at the level of the promotion, implementation or conciliation of the efforts that individuals, communities and companies are making towards this development. We must unite to make Creative Industries visible and credible in Portugal, as well as promoting education as a life plan for young people in Portugal. It is this effort that we continue to make.

2011 in pictures Towards the Impossible This was the motto, embodied in Unicerâ&#x20AC;&#x2122;s excellent results in 2010, which saw the 6th Unicer Creative Lab take place. An initiative with the main objective of promoting the Creative Industries sector and that demonstrates that the intersection between creativity, art and the business world is not only possible but relevant for both parties.

“19th Hole” was the star on a night marked by creativity, with the awards ceremony taking place at the Unicer Creative Lab: innovative software to support the development of the quality of golfers’ play which also aims to encourage tourism by offering golf in Portugal.

Golf – a creative business? 145 entries, 9 finalists, 2 honourable mentions and 1 winner are the numbers of the 3rd edition of the Unicer/Serralves National Creative Industries Award, in partnership with the institutions that joined us under the motto Creativity. The partners are: Agência de Inovação (Innovation Agency), ANJE, BPI, ESAD, Fundação da Juventude (Youth Foundation), IAPMEI, Brand New Box, Porto Catholic University - School of Arts and Porto University.

From north to south for Education. Transferring good practices and knowledge from the business world to schools, developing a culture based on merit, creativity, innovation and entrepreneurship, as well as implementing measures for combating school failure and abandonment are the foundations of our crusade for education in the communities in which we operate. Porto, São Mamede de Infesta and Castelo de Vide were the recipients of our work in 2011.

Training young people through the values of Rugby. The 2nd Future Porto with Rugby made the advantages of this programme clear: more children involved, more motivation and more citizenship. Continue in the coming years.

“Bastidor Público”, performing arts and training, and “Sweat on Paper”, a book that combines mystery with domestic tourism, were the recipients of Honourable Mentions.

Reuse with creativity? Is it possible? Oficina Cais Recicla gives us the answer! Giving new life to industrial waste and packaging, combining the creativity we promote so eagerly and contributing to a reduction in social exclusion is the concept behind the Oficina Cais Recicla, a social responsibility project that we run in conjunction with the Cais Association. Find out more about it. It can also be yours!

An active presence in our Communities The Casa da Música, the Serralves Foundation, the Youth Foundation are some of the institutions with which we maintain strong relationships, supporting initiatives such as the Verão na Casa, Serralves em Festa, Jazz in the Park and the annual music programme and the 2nd edition of Portugal Criativo. We continued to support the 5th edition of the Portugal Outreach Cup, the event “Hospitallers on the Camino de Santiago”, promoted by Matosinhos City Council, among many others.

Social responsibility in Trás-os-Montes Vidago and Pedras Salgadas continue to deserve our special attention as part of the redevelopment projects for the Thermal Recreation Parks. In addition to the protocols established with local authorities in Chaves and Vila Pouca de Aguiar and the Parish Councils of Vidago Bornes de Aguiar in 2007, over the past three years, Unicer has maintained close links with local activities, offering a significant amount of support, both financial and in kind.

EPIS: 5 years working towards a better education

It is part of what we are, but do we know what Christmas is all about? This was the motto of our Christmas campaign 2011, which sought to promote a culture of social responsibility, strengthening the reputation of Unicer as a socially responsible company, bringing Unicer closer to the communities in which it operates and strengthening team spirit and unity among employees.

5 years after its establishment, 2011 is marked by the broadest extension of the EPIS activity. “Mediators for Success Network”, “Future Vocations”, “Future Schools” and “Future Vocational Pathways” are the EPIS programmes that are contributing to the fight against failure and abandonment in state schools, and which allowed the Association to achieve its best result ever in terms of increased educational attainment among students at the end of the academic year 2010/2011. A journey marked by success, which we will continue with total dedication.

Porto Food Bank and institutions from the different communities where we operate benefited from a campaign to collect food. Bagos d’Ouro Association and São Gonçalo Temporary Shelter, from Vale de Cambra, were the other causes supported.

Unicer volunteers in action The culture of volunteering is growing in Unicer. Accordingly we established the Volunteering Policy and created a Group of Unicer Volunteers. To avoid questions about the rights and duties of both parties – Unicer and Volunteers. Junior Achievement e Braço Direito, involved more than 40 employees passing on good practices and incentives for the future to the children involved in our Education projects. Christmas is another great example of the dedication of our People to social causes. In total, during 2011, more than 140 employees donned the volunteering jersey.

ECONoMIC ISSUES

In a difficult year, we managed to keep to the established path, making a difference and achieving results of which we are proud. These are not easy times, that is for sure, but with strict management we have reached equilibrium in results, which allow us to look to the future with some optimism, because we know that we have made the right strategic decision: investing in the internationalisation of our strong brands as a major impetus for our business.

In a recessive context, we have to keep our Brands strong in the two markets. Apesar do contexto árduo, Super Bock continuou a construir uma posição muito sólida em Angola registando um crescimento superior a 45%. Em Portugal, e apesar da tendência típica de períodos de crise para o consumidor procurar marcas de mais baixo preço, Super Bock reforçou a sua posição como cerveja portuguesa mais vendida em todo o mundo, superando os 300 milhões de litros. Um feito! No mercado Interno, consolidámos a nossa posição de destaque nas categorias mais relevantes para o nosso negócio: cervejas e águas. Num ano difícil e cheio de desafios para os nosso clientes, o nosso foco esteve na rigorosa gestão da nossa atividade comercial com o objetivo de apoiarmos ainda mais a sua actividade. 15 mil contentores e 2 mil camiões carregados com as nossas marcas permitiram-nos atingir um recorde histórico na empresa. Pela primeira vez foram vendidos “fora de portas”, em mais de 50 países, mais de 200 milhões de litros. Angola mantém-se como principal mercado na nossa atividade internacional. Super Bock, Água das Pedras e Cristal são as marcas que nos ajudam a conquistar o mundo.

2011 in pictures Our effort in innovation. Super Bock Classic: a beer aimed at real connoisseurs, which reinforces the brand’s brewing credentials. 2011 was the year for revamping Unicer’s entire range of 6-packs and 10-packs, offering customers and the consumer a safer and more attractive product through innovative and appealing carton systems, which has involved heavy investment in production and packaging lines.

Easy Open – this is the name of the Mini Easy Opening product that also reached Angola and contributes to the success of our business operation and increasing awareness of the Super Bock brand.

Summer, Music and Football are the faces of Super Bock. SBSR – 17 years confirmed the experience with a poster in 2011 that remains in the memory. Super Summer – we swept beaches with a Super Bock wave, reaching very significant levels of performance and notoriety. Super Fans – with a dynamic platform, we have created unique moments with fans of Portuguese football.

140 years full of Life. Água das Pedras - In the year that it celebrated its 140th anniversary, the uncontested leading brand in the Carbonated Waters segment, for the first time became the leading brand in terms of total market value in Packaged Waters (Still and Carbonated). It is our centrepiece in water exports: present in more than 25 countries, it has recently conquered India and Brazil.

Vitalis - Continued with its link to Marathons, promoting active and healthy lifestyles. The designation “Bebida Solidária” (Solidarity Beverage) has given new impetus to the brand, which, in conjunction with SIC Esperança, spurred a social responsibility initiative: Vitalis Bebida Solidária (Vitalis Solidary Beverage), aimed at supporting the education of children from deprived economic backgrounds. Younger, more appealing

A Premium beer.

A Bebida Solidária que ajuda a aprender.

Carlsberg – this has undergone a revamp in line with its new international positioning.

Frisumo – this underwent a significant makeover, giving the brand more modern visual codes and packaging more appealing to its target audience.

Bebida Solidária Mais informações em www.sicesperanca.pt e www.vitalis.pt

AF BEBIDA SOLIDARIA A5.indd 1

Um projeto:

6/26/12 6:39 PM

Service, Efficiency, Quality and Safety. Throughout the year, and in all areas that make up the Supply Chain, service, efficiency, quality and safety were the fuel that drove our work, in order to ensure the development and ongoing adequacy and competitiveness of productive resources, logistics and the people involved, stimulated by a culture of continuous improvement of all processes.

Focus on competitiveness and development In order to ensure the competitiveness of Unicer in the medium and long term, in 2011 we started to prepare a ten-year strategic plan for the Supply Chain, with the aim of defining a development policy in line with principles of quality, technology and environmental efficiency across all centres of production and distribution. 2011 also saw the consolidation of the implementation of Lean Philosophy – Continuous Improvement, all Unicer plants, also extending to other areas of the Supply Chain. The success achieved in the implementation of multiple improvements resulted in significant efficiency gains, particularly in terms of resource utilisation, reduced energy consumption and optimisation of packaging materials, gains which allowed distribution efficiency to be increased the weight thereof to be reduced.

involves the analysis in each quarter of dozens of beers produced by Unicer and collected in the various consumer channels. The results for 2011 show that Unicer is not only above the Quality standards required by the Carlsberg Group, but also the values recorded by other Western European countries. More than 1500 Point of Sale audits were carried out in 2011 and with the aim of “total satisfaction of our customers”, we cut the response time for consumer complaints by more than half.

Level of service and efficiency in the Logistics Chain 2011 was once again marked by improvements in the efficiency of logistics, as a result of the effect of streamlining stocks in the chain, restructuring of the strategic channel distribution network and higher profitability of logistics assets.s.

Maltibérica, good results in a year of investment in energy efficiency The malt production company closed 2011 with results in line with operational efficiency and economic and financial indicators witnessed in 2010. Under the strategy that has been pursued to encourage the cultivation of barley in Portugal, and which is intended to be enhanced in light of awareness of the economic recession that the country is experiencing, Maltibérica innovated once again, adopting new mechanisms that may be powerful tools for supporting farmers. Thus, and in view of the next 2 years, the company has formalised partnerships with two important entities in the fields of production and banking, which complement 2010. The intention is to provide farmers

with more advantageous financing mechanisms for the crops, as well as an instrument to protect against the volatility of commodity prices in international markets during the growing season. Aware of the dependence on exogenous factors, such as climate, in 2012, the year that marks the 20th anniversary of Maltibérica, we hope to achieve significant growth in contracted acreage in Portugal, as well as maintaining the efficiency and profitability ratios that characterise the operation located in the municipality of Palmela.

Quality of our Products in the Market In order to get closer to our customers and consumers, 2011 was a year in which Unicer’s Quality department was closest to the market. We implemented the Market Survey, global sensory analysis performed by an independent laboratory in England. Operated by the Carlsberg Group, this project

Tourism: the beginning of a full operation 2011 was the first full year of operation of Vidago Palace Hotel, after extensive renovation works carried out in recent years. Positioned in the luxury segment, Vidago Palace’s target audience is highclass individuals, as well as the MICE segment (Incentives, Conferences and Seminars). In Pedras Salgadas, we highlight the full functioning of the Thermal Spa, the Bar and Outdoor Pool, the Tea Room, Lake and Minigolf, only the operation of the thermal spa being managed directly by Unicer, with the other infrastructure being run by private entities in the region on a concession basis, in line with our policy of social responsibility. Today, the major objective is to present Parque de Pedras as an ‘Open Resort’ geared towards the medium to medium/high segments, with the target audience being families seeking an active holiday, well-being or health. Currently new initiatives are underway that aim to increase the visibility of the Parks nationally and internationally and implement trade policies to reduce seasonality and attract MICE business and events. Eco-houses, a very recent project, offer an unforgettable experience by merging with the park, taking nature as their foundations.

UNICER - BEBIDAS DE PORTUGAL, SGPS, S.A. Direção de Pessoas e Comunicação Via Norte - Leça do Balio - Matosinhos Apartado 1044 4466-955 São Mamede de Infesta comunicacao.unicer@unicer.pt