Annual Report 2011

Sustainability suggests feasibility, assertion, order, harmony, consistency, foresight, etc.
essential concepts on which mathematics and geometry are based.
The tangible reality made up of the mineral, vegetable, animal and human-created
world is also replete with formal examples of consistency, order, harmony,
foresight or feasibility which upon their receipt remind us of sustainability.
Sustainable reality, described and defined using sustainable geometries and
sustainable formulas. This is the graphical metaphor of sustainability proposed in this
Report: in the way that the sustainability of the Amper project can be described.
Graphic C ncept

Amper · 3
2011 Milestones
Letter from the Chairman
Letter from the Chief Executive Officer
Amper: a multinational and sustainable Company
Internationalisation
Efficiency
Innovation
Corporate Social Responsibility
Consolidated Balance Sheet and Financial Statements
Directory
TABLE OF
CONTENTS

4 · Annual Report 2011
first quarter
Ministry of Defence
United Arab Emirates
Amper will supply a Comprehensive Command and Control
System to the Ministry of Defence of the United Arab Emirates
in the largest overseas contract obtained by the company.
With duration of three years, it includes a transfer of technology
to Emiraje which will enable the maintenance and evolution of
the system to be carried out locally. This achievement in the
United Arab Emirates consolidates the leadership of Amper
due to the fact that it is one of the few multinational companies
providing an information system for the Military Command
and Control which is operational in more than two countries,
given that it currently can be found in Spain and Switzerland.
Telebras
Brazil
Amper has been chosen by Telebras, in a contract of more than
24 million euros, for the provision of integration solutions in
the IP network within the deployment of the national network
which forms part of the concessions of the National Broadband
Plan (PNBL, for its acronym in Portuguese) that is promoted by
the Government. The PNBL will reach more than 3,000 cities
across the country and will be linked via fibre optic rings.
Swiss Army
Switzerland
The Swiss Army once again extends their contract for the
Command and Control System developed and supplied
by Amper. This information system covers the command
and control for all levels, from the bottom levels, such as
vehicles, to the most strategic decision-making levels.
Banco Santander
Spain
For the Banking and Finance sectoral area, and within the
activity of Communications, Amper has been awarded a
major contract with Banco Santander for the implementation
of an intelligent structured cabling system, the renovation
of booths and the monitoring of consumption for the
new Data Processing Centre of Cantabria in Spain.
Ministry of Interior
Spain
Amper has been awarded a contract for the deployment of the
maritime surveillance Coordination Centre of Algeciras.
This contract will enhance the SIVE system already deployed
and allows the integration of information received from the
system sensors, radar and cameras with other information
provided by ships, satellites and the systems specific to this
port. The unification into a single control centre for various types
of information will improve the detection of vessels and the
management and control of them.
The operating room shall also house the Centre of Coordination
of the maritime surveillance of coasts and borders in which
the information of the Comprehensive External Surveillance
System (SIVE, for its acronym in Spanish) of Málaga, Granada,
Cádiz, Algeciras and Ceuta will be integrated and where the
actions of the Civil Guard shall be coordinated nationally.
Safe City
Mexico
Amper has been awarded a contract to expand the Safe City
project in Mexico, in the largest emergency management
system currently in place in the world. In this project, Amper has
already been supplying the integration of communications.
The high-tech project, which is directed by Mexico’s Federal
District Government, will allow authorities to respond
immediately and in a coordinated manner by shortening the
response time to emergency situations, crises and illegal acts.

Amper · 5
2011 MILESTONES
second quarter
Libera Networks Agreement
Amper and the Libera Networks Company reached an
agreement to collaborate in order to expand their existing
businesses in the area of wireless technologies in national
and international markets, primarily Latin America, and in
new sectors such as health, transport, ports and airports,
energy and public administration. Both companies will work
in the development of indoor and outdoor Wi-Fi networks
which will provide wireless coverage to public buildings,
businesses, university campuses, public transport, etc.
Comtelsat
Mexico
The international expansion of Amper has contributed to
many new projects being executed in Latin America in the
sphere of Communications and Security. With regards the
Public Administration sector, Amper, by way of Comtelsat,
has implemented the voice and data network of several
Correctional Facilities in Mexico for an amount exceeding 13
million Euros. Comtelsat has found in Amper a suitable business
partner to strengthen its consulting and engineering teams.
Telefónica
Digital Home
Amper has been selected by Telefónica as their global supplier
of equipment for the reception of SD resolution Satellite TV, and
as a reference supplier of Wi-Fi routers and BHS gateways with
11n technology for their multimedia Trio offer of Home IPTV, and
with massive supplies contracts of these items for Spain, Chile
and Peru.
Amper has also provided equipment for the reception
and integration of DTH (Direct To Home) satellite TV.
FCC
Spain
In the transport sector, the Communications activity of
Amper was awarded a contract with the FCC to expand the
environmental friendly fleet of the company in Barcelona.
TV Globo
Brazil
In Brazil, two contracts have been awarded by TV Globo to
improve their networks for an amount in excess of 2.5 million euros.
Telefónica
Colombia and Venezuela
Amper has been awarded a contract with Telefónica in Colombia
for the technical improvement of the routing systems for its
mobile network. In Venezuela, also for Telefonica, Amper has
been awarded a contract for the provision of an MPLS network.
Mistral Solutions
India
Amper signed an agreement with the Mistral Solutions
company in India, transferring the necessary knowledge
regarding the emergency and mobility hardware solutions
in order to carry out redesign work to enable cost reduction
and the in situ adaptation of new requirements that the
Indian market, and other international markets, may demand.
Thanks to this agreement, Amper has been awarded the
first contract in India for the control of the infrastructure
security of one of the most important ports of the country.

third quarter
National Corporation of
Telecommunications
Ecuador
Continuing its international expansion in Latin America, and
in the field of Communications solutions, Amper is awarded
with a new contract. The new contract is with the National
Corporation of Telecommunications, and it is to expand its
national IP/MPLS backbone in a contract in excess of 17
million euros for the mass access to quality Internet service for
corporate and government clients, within the major revitalisation
and transformation initiatives of the economy of Ecuador.
Banco Mercantil
Venezuela
The modernisation of the Banco Mercantil (Mercantile
Bank) network of Venezuela, in a contract in excess
of 2 million euros, has been awarded to Amper which
continues to expand its operations in Latin America.
Directorate General of Police and
Civil Guard
Spain
In Spain, the Communications and Security activity for the
Public Administration of Amper has been awarded a very
significant contract by the Directorate General of Police and
Civil Guard for an amount in excess of 4 million euros.
Restructuring of financial debt
Amper successfully completes the process of restructuring
its financial debt by means of the novation of the contracts
it has with 29 financial institutions. In this way, Amper
obtains a long term maturity profile for 83% of its debt
compared with the 5% it had at 31 December 2010.
These contracts include the refinancing of a syndicated
loan of 52.9 million euros for a period of 7 years, with a 2
year exclusion period and the stabilisation of the working
capital financing lines for a period of 3 years, which
amount in aggregate form to a total of 54.7 million euros.
The company has obtained new funding amounting to
4.5 million, which is included in the syndicated loan.
Aena
Spain
Amper has strengthened its leadership in the Transport and
Public Administration sector with its contract with AENA
for the improvement of their critical communications at the
Airport of Palma de Mallorca with its TETRA mobile radio
communications system oriented to corporate networks. This
is in addition to the systems already deployed at the airports
of Barcelona, Zaragoza and Alicante, as well as the renovation
of the secure communications with TETRA for Iberia.
Basque Government
Spain
Also, in the sector of Transport and Public Administration,
the Department of Interior of the Basque Government again
places its trust in Amper for the design and implementation
of a mobile security system which will allow the management
and control of the onboard fleet of the regional police from
the Control Centres by voice, data and video information.
AVG
Vietnam
The firm commitment of Amper in the international market
bears fruit with the first contract awarded the company
in Vietnam for the supply of digital home multimedia
equipment for the TV operator, Audio Visual Group (AVG).
Supercanal
Argentina
Supercanal entrusts Amper with the design and implementation
of its fibre optic network to enhance access to the Internet
and TV of education centres in the province of Mendoza.

Amper · 7
fourth quarter
Agreement with Telefónica
in Latin America
Amper and Telefónica sign a partnership agreement to provide
solutions for Defence, Security and Communications solutions
to the Major Corporations and Public Administrations in Latin
America, a field in which both partners already have experience
in working together in Spain and in other European countries
Telefónica will provide a unique infrastructure in the region,
especially in terms of coverage, and will also provide its
capacity to integrate complex and cutting-edge projects.
For its part, Amper will provide applications, part of the software
and its specific experience in each product, along with the
widespread deployment, which it already has in the region.
Agreement with Google Enterprise
Amper, in the sphere of its Security activity, reached an agreement
with Google Enterprise to use their map display systems in their
security solutions, by virtue of which the family of security products
of Amper C4ISRnemesis, which is dedicated to emergency
management, protection of critical infrastructures, border
surveillance and mobility systems, and will natively incorporate the
Google Earth Enterprise technology as its map display system.
Agreement with Quantenna
Amper has reached a collaboration agreement with
Quantenna Communications, Inc. who, with its 4x4 MIMO
Wi-Fi technology, will allow the wireless broadband services
to reach the homes of the consumers with multiple wireless
devices regardless of the architecture of the home and of
the obstacles present to the transmission in buildings.
Agreement with Tecnalia
Amper has appointed Tecnalia as an Authorised Preferred
Partner in applications related to the Amper Information
Systems in the field of Security. This agreement will allow
the incorporation of high level technical solutions in the
infrastructure developed by Amper for the protection of
infrastructures and borders, emergency situations and mobility.
Municipal District of Baruta
Venezuela
Towards the end of the year, Amper launched the most advanced
Security Centre of Venezuela in the Municipal District of Baruta
(Caracas), where the “Baruta 171” Emergency Centre was
deployed, integrating the local care services of Polibaruta
(Baruta Police), Traffic Police, Salud Baruta (Baruta Health
Clinic) and Civil Protection to optimise the response time to any
emergency situation involving police assistance, road safety,
health, civil defence and fire services to a population of 700,000
inhabitants. The Centre is similar to those which are already
managed by Amper for the authorities in Madrid, Spain, Paris,
France (112 emergency number) or Mendoza, Argentina.
Samu Network in Dijon
France
Amper is responsible for providing the Emergency
system of the SAMU (Health Care Emergency Service;
for its acronym in Spanish) network of Dijon, France.
Agreement for the Privatisation of eLandia
The Board of Directors of Amper, S.A. and a special and
independent committee composed of directors of eLandia
International Inc. agreed to the process by which eLandia
International Inc. would cease trading on the OTC stock
market in late 2011, and the company would undertake a
consolidation of shares, whereby shareholders holding less than
10,000 shares would have their shares purchased by eLandia
International Inc. and be subsequently cancelled. In addition,
the exchange of shares for shares of Amper, S.A. was approved
for the shareholders of eLandia International Inc. holding more
than 10,000 shares.
The entire process received the appropriate approval of the
Securities Exchange Commission (SEC) of the United States
of America. The process will be executed between the end of
the first half of 2012 and the second half of the same year.

Board of Directors
Chairman
Mr. Jaime Espinosa de los Monteros Pitarque
Chief Executive Officer
Mr. Alfredo Redondo Iglesias
Nominee Directors
Veremonte España, S.L.
represented by Mr. Yago Enrique Méndez Pascual
Aralia Asesores, S.L.
represented by Mr. José Manuel Arrojo Botija
Mr. Pedro Mateache Sacristán
Independent Directors
Mr. José Francisco Mateu Isturiz
Mr. Luis Rivera Novo
Mr. Juan José Toribio Dávila
Mr. Ignacio López del Hierro
Mr. José Sancho García
Secretary, Legal Adviser and non-Director
Ms. Mónica Martín de Vidales Godino
* 1 June 2012

Amper · 9
Dear Shareholders:
I again have the pleasure to address everyone on this occasion, in our annual
meeting in which we render account for the management of the corporation during
the last financial year, and do so with the great satisfaction it gives me to able to say
that despite all the difficulties expected at the beginning of last year, the strategy
we set for ourselves to address these difficulties has been effective and we have
fulfilled all the commitments set before you and set before the market.
It is well known that the economic situation in Spain, which is far from letting up,
has fallen into a dynamic depression which in combination with the difficult financial
market conditions, has led it to another recession and, along with it, a decline in
demand and a decline - and in some cases disappearance - of projects which
could mean opportunities for consolidation or growth. The technology companies
have been one of the main entities affected by this situation, characterised by the
decline in investments and loans and the increased competition.
But the economic situation has not followed these same patterns outside of our
borders and, thanks to our diversification into other geographical areas, we have
been able to offset the negative trend experienced in Spain with new opportunities
in other projects which have opened some fundamental avenues of cooperation with
key clients of those environments, giving us business now and, consequently, puts
Letter
from the Chairman
Jaime Espinosa de los Monteros

us in a very good position for the future. This, coupled with a continuous
search for efficiency throughout our organisation, has mitigated the
bad trend suffered in Spain and has amplified the favourable trend
experienced in Latin America and the South Pacific.
And in this way we have fulfilled our commitments in turnover, in
EBITDA, in the restructuring of our financial debt and in maintaining
our policy of innovation.
These accomplishments have been the result of the achievement of the
milestones we set for ourselves for the 2011 financial year, and I want
to mention those which I believe to be essential: First, the productivity
improvements achieved after the restructuring operations in Spain
which were carried out with a dual approach: the adaptation to the
development of the business in the country and retaining the talent;
which has also been dedicated to the technological and commercial
support to other areas. Secondly, the contract worth 92 million euros
awarded by the United Arab Emirates for the command and control
system of their armed forces, which consolidates the leadership of
Amper as one of the few multinational companies possessing an
information system for the military command and control operating in
more than two countries, given that currently, in addition to the United
Arab Emirates, it is also operational in Spain and Switzerland. Thirdly,
the effective integration of eLandia, which has become an authentic
platform for growth and has provided activity in 14 additional Latin
American countries and over 3,000 new clients, among which include
more than 15 operators. And lastly, the restructuring of our financial
debt, which was carried out with 29 entities. After this, 83% of our
debt came to have a long term maturity profile compared with the 5%
at 31 December 2010.

Amper · 11
If I had to summarise in a single concept the essence
of our company, I would say that Amper is diversity
for sustainability: geographical diversity, because the
enormous weight of the activity abroad is reflected
in the 61% of sales, which means 25 points more
than in 2010, and diversity in the implementation
of solutions, given that the entire portfolio of the
Company (Defence, Communications and Security)
is gaining presence in the countries in which we
operate.
The common processes which we are implementing
and the critical mass we already have in many of these
countries allow us to further improve the efficiency
and thus be a company with a sustainable project.
No doubt the excellent work of the Chief Executive
Officer, Alfredo Redondo, has contributed to all this
success. Alfredo Redondo joined our Company in
the middle of 2010 who, along with the rest of the
Board of Directors which I am honoured to chair,
has been able to define and implement a successful
strategy and unite around it, instilling enthusiasm
and energy to all professionals working for Amper
all over the world. They, our professionals, are also
responsible for the excellent results and, together
with all of our clients, constitute the most important
asset for the success of this project, for an Amper
that is solid, profitable and sustainable.
Lastly, I would like to make mention of the addition of
the Veremonte Group to our Company in May 2012.
This addition, which has taken place during the worst
economic situation of our country in recent times, is
proof of the confidence that international investors,
with importance equal to that of the Veremonte
Group, can have in the sustainable expansion plans
of our business, especially due to the prospects for
our operations in Latin America. We are very thrilled
with its incorporation and we are convinced that
its addition will help streamline our plans and, on
behalf of the entire Board of Directors, we extend to
them our warmest welcome.
I would like to conclude by expressing my gratitude
for the trust you all have placed in us. I hope to
continue to inform you that our goals are being
achieved in future occasions and be assured that
all of us at Amper will continue to work with the
determination and aim of making this Company
ever more solid and profitable.
Best Regards,
Jaime Espinosa de los Monteros

Innovation Committee
Mr. Alfredo Redondo Iglesias
Director General of the European, African and Asian Market
Ms. Esther Garcés Alonso
Director General of the Defence Market
Mr. Rafael Posada Díaz Crespo
Director General of the Brazilian Market
Mr. João Lara
Director of the Services Division
Mr. Pedro Muñoz Luna
Director of the Security Division
Mr. Rafael de Solís Montes
Director of the Access and Technical Coordination Division
of the Product Area
Mr. Víctor Domínguez Richards
Director of Business Development and Director General of
EPICOM, S.A.
Mr. Miguel Sancho Cáceres
Chief Financial Officer and Director General of Shared Resources
Mr. Carlos Casals Oliver
Corporate Director of Human Resources
Mr. Jorge Muñoz Peinador
Director of Corporate Communication and Image
Mr. Juan Porro Herrera
Director General of the Latin American Market
Mr. Osmundo Lúquez
Chief Marketing Officer
Mr. Fernando Rodríguez
Secretary General
Mr. José Martos Martínez
* 1 June 2012

Amper · 13
Dear Shareholders:
A year ago I had the opportunity to address you for the first time as Chief Executive
Officer, to present a brief overview of the management of Amper during the 2010
financial year. Now a year later, it again gives me great pleasure to recap the
events of the 2011 financial year, which has without doubt been a key year in the
transformation of our Company, in meeting the critical challenges which we have
set for that year and in the consolidation of a diversification strategy to create, out
of all of our achievements, a sustainable project.
For the 2011 financial year, the crucial challenges on which our survival depended
were primarily the success in acquiring the contract with the United Arab Emirates,
the effective integration of eLandia to the normal operations, the optimisation of
the structure in Spain and refinancing. They were all successfully met and the
result has been that Amper has vastly improved its growth forecasts and results
announced for the 2011 financial year: we have practically doubled our contracts
signed, exceeding 406 million euros, we have increased our turnover by 50% to 393
million euros, we achieved an EBITDA of 23.3 million euros compared to -8.9 million
euros in 2010, we have improved the net profit by 25 million euros and we have
achieved the objectives we set ourselves for restructuring the financial debt.
Letter from the
Alfredo Redondo

Moreover, the three crucial pillars of differentiation of Amper in the
market has been confirmed during the 2011 financial year and the
pillars of sustainability of the business will continue to be consolidated
during the 2012 financial year, and beyond.
Amper has, as its distinctive hallmark, the combination of a global
presence, our own R & D + innovation department and an approach to
the multisectoral market. In combination, these three characteristics
are those that have allowed Amper to compete in growth markets with
future technologies of its own creation.
The 2012 financial year will reap the fruits of this differentiation strategy,
and its sustainability will continue to build on the three fundamental
pillars of globalisation, efficiency, and innovation.
Internationalisation, because of the significant relative growth which
the international markets have sustained and will continue to sustain
in the structure of total turnover of the Company:
The incorporation of eLandia has contributed activity in 14 new
countries in Latin America, including sales totalling 131 million euros.
This represents a growth of 39% with respects to the sales of eLandia
during the same period in 2010.
In addition to the appropriate operations of this incorporation, the
continuation of this strategy to expand into other markets outside of
Latin America, such as the United Arab Emirates, the South Pacific,
Amper has continued its firm
commitment to innovation
which, in a globalised scenario
like the present, represents a
differential asset with a clear
added value

Amper · 15
France, India or Vietnam represented a large
increase in the activity abroad in 2011 compared
to 2010.
A year ago I mentioned that our objective was not to
be an international company, but a true multinational
company,andthatiswhatweareachievingindefining
our operations and our structure in accordance with
this strategy: sales divisions, competency centres,
back office supports and corporate functions have
been located in the area most adapted to the reality
of our clients and our business, and therefore we
can discuss some of the corporate governance
bodies distributed throughout Spain, USA, Brazil or
Latin America.
Efficiency, due to the Global Competency Centres,
to its shared back office structure, to the matrix
approach to the market thanks to the combination of
Regions and Business Units, and to the optimisation
of the structure carried out in Spain, which has
been executed with a dual approach: adaptation to
the development of the business in the country and
retaining the talent; which has also been dedicated
to the technological and commercial support to
other areas.
The successful restructuring of the financial debt
has resulted in a long term maturity profile of 83%
of its debt compared with the 5% it had at 31
December 2010.
And finally, the working capital has also improved
substantially in homogenous terms, motivated in
part by the effects of the T2C Project (Time to Cash,
or optimisation of the working capital).
Innovation, to build an offer of sectoral value, which
looks to the true needs of clients in the areas of
Defence, Communications and Security.
Despite the current global financial and economic
situation, Amper has continued its firm commitment
to innovation which, in a globalised scenario like the
present, represents a differential asset with a clear
added value. According to the internal powers or the
planned business models, this commitment is twofold:
It’s own R & D + innovation department or technological
or market agreements with strategic partners.
With respects to its R & D + innovation department,
Amper has dedicated a total of 151 people and a
portion of its budget of 12.6 Million euros in 2011.

With regard to the strategic partners, Amper concluded 2011 with a
series of agreements among which one that stood out was the contract
signed with Telefónica to offer solutions for Defence, Security and
Communications to Major Corporations and Public Administrations in
Latin America. This is an area in which both partners already have
experience working together in Spain and other European countries.
Another contract which stands out is the one signed with Google
Enterprise to use its technology in the security solutions of Amper,
which for the first time allow emergency management in centres, even
when there is no Internet connection, or in critical situations with high
levels of operational demands.
And the contract signed with Quantenna Communications to use its
4x4 MIMO Wi-Fi technology, which will allow the wireless broadband
services (HDTV, or any content in video format) to reach the homes
of the consumers with multiple wireless devices regardless of the
architecture, simultaneously and thereby simplifying the installation.
AllthishasbeenpossiblethankstotheenormouseffortofTransformation
that the Company has carried out throughout the year and making
Transformation a constant in our way of thinking and acting, seeking
excellence for the sake of our clients, our shareholders, our partners
and, of course, of all the professionals that make up the Company.
After some initial tests, a Transformation Project which encompassed
virtually all pillars essential to our success was finally established: Client
Satisfaction, Client Engineering, Execution and its impact on cash,
Thanks to the enormous
effort made throughout
this financial year,
transformation is a
constant in our thinking
and acting

Amper · 17
Back office synergies, and Communication. In order
to “industrialise” the transformation of our Group,
a Transformation Office has been created which
coordinates, from Spain and from Latin America,
and provides consistency to the development and
achievements of each.
The Project was officially and simultaneously
launchedfromSãoPauloinMarch2012,implemented
throughout entire company and with the virtual
attendance and participation of all professionals via
webcast, connecting them via social networking and
video and audio conferences created specifically for
the event and, at this moment, many of the project’s
milestones are being reached and have begun to
bear its fruit.
Lastly, I would like to mention the enormous
satisfaction that the addition of the Amper
Veremonte Group as a shareholder gives me in
these very complicated and difficult economic
and financial times. Their decision to invest in our
Company in such a significant manner is further
proof that innovation and the continuous search
for efficiency, in addition to having represented a
value proven in the past financial year also paints
a project with prospects of success for the present
and, what is more important, of sustainability for
the future.
The inflow of capital that the incorporation of the
Veremonte Group represents to our shareholders,
along with the last restructuring operation of our
financial debt, will allow us to give increase our
focus on achieving the operational objectives of our
business for future financial years, as well as for the
present financial year.
I would like to use this opportunity to show my
appreciation to the team of professionals who have
made it possible for Amper to be considered a
forthright opportunity for investment, to welcome
the Veremonte Group to this exciting project which
Amper represents and to give special thanks to the
entities represented in our Board of Directors, our
directors and to everyone else, for the confidence
you have placed in all of us.
Best Regards,
Alfredo Redondo

ThThee geogo raphicicala diversity provides Amper
wiwithth ssusustataaininability by providing the possibility
ofof bbalalalanana cicinng disparate economic situations,
anana dd ththee didiveversrsitityy inn its value proposition facilitates
ththee inintrtrododucucctititionono ooff its entire portfolio of Defence,
CoCommmmmmununicicatatioionsns aandnd SSecurity to its clients
ananaandd inin tthehe ccouountntririeses iinn whwhicichh itit operates.
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InInInnonovavatitt on

Amper · 21
Amper: A multinational and
sustainable company
The estimates of the information and communication technology (ICT)
market for 2012, according to the Gartner Group, amount to 2,600 B $.
Of these, 43 B $ correspond to Spain and 151 B $ correspond to Latin
America, including Brazil to which 62 B $ correspond.
In its sectoral distribution, a quarter of this market corresponds to the
commerce and manufacturing sectors, another quarter corresponds
to the banking and finance sectors, another corresponds to the
group consisting of the means of communication and entertainment,
transport and public services, and the last quarter corresponds to
government agencies and other ICT users.
As for the estimates or forecasts for the 2012-2015 period, the
services of fixed or mobile telecommunication networks are found
first, followed by the management of technologies and processes, and
lastly development and integration.
Amper, then, is a well positioned major player in one of the segments
and in the geographical area with the greatest market potential and
it has aimed its offer of solutions for the sectors which will need their
services most.
This multisectoral and multinational response, to which 4,000 clients are
now recipients, is provided by more than 1,900 professionals in some 19
countries in Europe, Asia, Africa, North and South America and the South
Pacific, and represents the result of an end to end integrating work, creator

of the ecosystem from which Amper develops its value
proposition. Clients, technology partners and centres
of excellence with which collaboration agreements
have been established are the catalysts for solutions
that are based in mutual enrichment through direct
contact and the interchange of concerns, ideas,
technology and in-house and third-party solutions. No
doubt this is a rich, real and sustainable approach.
Diversity for Sustainability
Amper has adopted a strategy to develop its
value proposition supported by its talent as
competitive differentiation:
Its in-house technology is executed in Centres of
Excellence in the proximity of the market and located
in Madrid, Barcelona, Bangalore and Bogota which,
while optimising their costs of R&D+ innovation,
benefit from the proximity to the client. This is
fundamental for the adaptation of the proposed
solutions to the real needs that the market demands.
On the other hand, its capacity to integrate is
extended to both systems derived from in-house
technology or services as well as from third parties,
systems for which Amper possesses multi-vendor
accreditations of the highest levels of qualification.
All this, coupled with the strategic technology
agreements with partners, certify them for managing
projects of a high degree of complexity or the
connection of complex ecosystems such as those
needed to provide solutions to cloud services, smart
citiesandM2M(machinetomachine)communications,
among others.
Lastly, the economies of scale with their multinational
clients provide replicability in both projects and
in business models. In a considerable volume of
cases, the experience with their clients and their
recommendations regarding the excellence of its
solutions are Amper’s best credential.
In short, the geographical diversity provides Amper
sustainability for the possibility of balancing disparate
economic situations and its diversity in solutions
facilitates the introduction of its entire portfolio of
Defence, Communications and Security to its clients
and in the countries in which it operates.

Amper · 23
Madrid, Barcelona, Bangalore and Bogota are the
cities in which the Centres of Excellence of Amper
are located. These Centres are dedicated to
technological research and to the development of
solutions in defence, communications and security,
and are the palpable confirmation of the three
strategic pillars of Amper: Internationalisation,
Efficiency and Innovation.
Internationalisation, because their professionals
design solutions whose true applications make up a
substantial list of references which includes several
countries throughout the world: command and control
systems for the armed forces of Spain, Switzerland
and United Arab Emirates, critical communications
networks in airports of Spain, infrastructures of
national broadband networks in Brazil, equipment
for digital home technology in Spain, Brazil, Chile,
Peru, Venezuela, or security management centres in
Spain (Madrid 112), Venezuela (Baruta 171), Argentina
(Mendoza), France (SAMU Dijon) or Mexico City.
Efficiency,because they respond to the strategic
decision of proximity and harmony with clients to
achieve with these a climate of collaboration based
on an interchange of open opinions based on
experience in order to share ideas, projects, needs
and solutions, and which make possible a replicable
“engineering” of the lifecycle of any of the solutions
that are developed therein.
And innovation, because the engineering with a high
added value carried out therein not only includes the
in-house engineering of Amper, but also includes the
engineeringstemmingfromitsparticipationinnational
and international R&D+innovation programmes, and
whose ultimate objective in the majority of the cases
is to try to make the lives of citizens more comfortable,
easier and safer in daily life in emergency or special
situations, through innovation in the discovery of new
technologies, and in the integration of the existing
technologies.
In the same way as in a DNA molecule, the Centres of
Excellence of Amper replicate the three strategic pillars
of internationalisation, efficiency and innovation which
make up the essence of the rest of the Company.
The Centres of Excellence of Amper:
A sample of its DNA

Amper has fulfilled its commitment to internationalisation. The increase of its
operations in Latin America and its expansion into other markets, such as the South
Pacific, United Arab Emirates, France, India and Vietnam has represented a great
increase in the activity carried out abroad compared to 2010 and making Amper a
sustainable company thanks to internationalisation.

Amper · 27
SPAIN
62%
ABROAD
77%
ABROAD
38%
SPAIN
23%
Contracts signed 2010
212 M€
Contracts signed 2011
406 M€
SPAIN
64%
ABROAD
61%
ABROAD
36%
SPAIN
39%
Sales 2010
262 M€
Sales 2011
393 M€
[ ]A multinational DNA with
multisectoral solutions aimed for
markets with high growth potential

Baruta 171:
A pioneering and exemplary
management of Public Safety
TheBarutaCentre171,whichintegratesthelocalcareservicesofPolibaruta
(Baruta Police), Traffic Police, Salud Baruta (Baruta Health Clinic) and Civil
Protection, is the most advanced automated emergency service platform
in Venezuela. The Baruta Centre 171 is added to others already operating
and using Amper technology in Spain, France, Argentina and Mexico. Its
technology has been successfully implemented and integrated by Amper
in major Security Forces and Corps, such as the Spanish Guardia Civil
(Civil Guard), the Emergency Military Units of Spain, the Prefecture of
Police of Paris or the Fire Brigade of France, among others.
What was the reasoning behind the idea of this project?
Given that the Department of Public Safety is the coordinating body
between the Municipal Police of the municipal district of Baruta, the Civil
Protection Service and the Directorate for the “Salud Baruta” Immediate
Response through a 171 Emergency Centre, we wanted to integrate the
local care services of Polibaruta (Baruta Police), Traffic Police, Salud Baruta
(Baruta Health Clinic) and Civil Protection to facilitate the management
of public safety by both the authorities responsible for public safety as
well as by the citizens themselves. This would allow us to provide an
immediate solution to the inhabitants of the municipal district in the face
of any contingency, and at the same time optimise the response time.
Responding to this interview:
Mr. Manuel Tangir,
Director of Public Safety in the
municipal district of Baruta.
Caracas, Venezuela.

Amper · 29
What were the most important objectives set in
order for this to be carried out?
What we wanted was a modern system by which a
person, when facing an emergency, could call 171 and
reach the pertinent emergency service: ambulance,
paramedics on a motorcycle or even a physician
indicating what needs to be done via telephone. What
we wanted was for what occurred three years ago
not to repeat itself, when a natural disaster produced
some seven hundred landslides and collapsed the
town, highlighting the shortcomings of the then
existing Emergency System. Those were the start up
requirements of the project, which is being carried
out in several phases.
Can you tell us about these phases, the current
status of the Baruta 171 project and its future
plans?
The facilities include a monitoring room, a room to
receive alerts and a connection to all law enforcement,
medical care and rescue agencies of the municipal
district linked via a global positioning system. A
network handles the emergencies identified by a
series of devices such as panic alert apparatuses and
bracelets, mobile phones or landlines with special
buttons which allow citizens to contact the 171
Baruta Centre to immediately report emergencies at
the touch a button.
In the next two years, the mayor of Baruta plans
to continue strengthening the 171 service with
the incorporation of new technology. We are now
incorporating the management of the fleet system
and the panic alert buttons, and the greater objective
is to procure tele-surveillance for the entire municipal
area, maintaining the Baruta municipal district
under surveillance for reasons of public safety, in
the length and breadth of the entire structure thanks
to the consultation from the mobile database units,
the integration of video cameras and other devices
in vehicles, as well as to the sharing of critical
information with the Emergency Service Centre.
Baruta shall remain a municipal district technology
leader, with the most modern technology in public
safety systems existing in the country.
How have the lives of the citizens improved and
what specifically has been made available? What
has been your response so far to these services?
Our Mayor, Gerardo Blyde, said on the day the
service was launched that for us in Baruta, safety is
the priority, as concerns related to crime, to natural
disasters or to health mishaps. Today, 81% of the
population values the municipal police in a positive
manner, and with the launch of this Centre we hope
that no citizen of Baruta has reason not to fully
trust in their law enforcement officials and in the

The Baruta municipal district
shall be under surveillance
for reasons of public safety,
in the length and breadth
of the entire structure
thanks to the consultation
from the mobile database
units, the integration of
video cameras and other
devices in vehicles, as
well as to the sharing of
critical information with the
Emergency Service Centre
healthcare services that we have made available. This includes three
types of devices to manage public safety:
The first device consists of a system which includes a phone with panic
buttons connected to four mobile apparatuses with an emergency button
which, when pressed, automatically makes an alert call to the emergency
service centre of Baruta 171. The system automatically replicates the
call and informs the emergency officials the location and data of the
victim. The mobile units of Baruta have satellite system that will allow
the emergency centre to know at all times the location and movement of
vehicles and, therefore, these devices offer the law enforcement officials
of the mobile units the ability to send and receive critical information with
the emergency service centre.
The second device is a watch or bracelet with a button that, when pressed,
sends a signal to the 171 centre, the officials, upon receiving the signal,
knows the person to which the device belongs right away and where he /
she is located. Lastly, there is another panic button device that is offered.
This is a mobile phone which has a button on its back that when pressed,
makes the emergency call in the same conditions as above.
But there are also significant improvements for the law enforcement
officials: with just the information of the identity card or the license
plate of the car, it is possible to know, for example, the history of tickets
of a driver, his / her criminal record, if any, or if he / she is wanted, and
send the information to all units. It is a means of transmitting important
information in a bidirectional manner.

Amper · 31
What was the role of Amper with respects to
its relationship with the Mayoralty of Baruta and
how has the dialogue between both sides been
developed during the phases of the project?
Amper, through its subsidiary in Venezuela Desca,
plays an important role in this development in
terms of public safety. It was one of the companies
which submitted a technology plan with greater
assertivenesswithregardstowhatweweresearching
for and providing solutions to the communications
platforms. This has indeed made it possible for us to
achieve having the most modern emergency centre
in the city of Caracas and perhaps of all Venezuela.
Our relationship with Amper started a year ago:
The mayor of the municipality of Baruta needed to
obtain solutions for the implementation of the 171
emergency system.
Contact with Desca was made which submitted
to us a portfolio of solutions in the field of public
safety and, by virtue of this, we began a relationship
with total transparency and professionalism that
has resulted in the installation of this system in
our municipal district platform which, at present,
has resulted in an effective and true system with a
potential for growth.
What were the reasons that made Amper the
successful bidder?
The situational context to choose the Desca
Company, part of the Amper Group, was simply a
broad search for solutions and visits to large 171
service centres in Caracas, and all over Venezuela. In
all of our visits, we found defects as well as excellent
qualities in these systems. One of the main problems
included connectivity, the formula to achieve greater
connectivity between all the existing communication
systems and that everything needed to be carried out
on the same platform.
Amper was the only company that provided us that
solution, which gave us the platform to integrate all
the communication systems on a single IP voice
platform. This led us, therefore, to select it to develop
our system of municipal emergency services.

Global Competency Centres, a shared Backoffice structure,
a matrix approach to the market through a combination of
Regions and Business Units, the rationalisation of the cost
structures, the restructuring of the financial debt and a large
Transformation Project are the key factors for Amper,
a sustainable company because of its efficiency.

Amper · 35
Efficiency in Innovation: The
Design Centre in Bangalore
Theneedtoinvestininnovationintimeslikethepresent,devotingalarge
percentage of the sales to improve the purely technological innovation,
to improve the market share and to maintain the consolidated position
is what has led Amper to invest 12.6 million Euros in 2011 to Research,
Development and Innovation. The number of people engaged in
these operations is 151, and their areas of expertise have expanded
to all fields related to R & D + innovation in the solutions of Defence,
Communications and Security in which Amper operates.
This being important, not only with our own technology can we face
the changes affecting the business model or the derivatives of the
effects of globalisation, in which a larger number of competitors
and potential partners are present in virtually every market and are
competitive in price as well as in technology. For this reason, Amper
began a strategy based on open innovation processes in 2011, seeking
agreements with leading global partners such as Telefonica, Google,
Quantenna or Fractalia, as well as collaborations with universities such
as the University of Carlos III, the Polytechnic University of Madrid,
the University of Alcala de Henares, the Autonomous University of
Barcelona, and technology centres such as INTA or Tecnalia, among
others.
In addition, Amper has sought agreements since 2011 which allow
the expansion of the range of technology partners outside of Spain

The fundamental consecutive lines of work are
two: the first line focused on the creation of a new
radio communications integrations card (Tetra,
P25, Tetrapol, DMR, etc.) with analogue and digital
telephony known as GALA, which groups together a
series of cards of the previous system and allows its
management through standard IP protocols (SIP),
which provides unique power and capacity to the
GEMYC-D system. This development has allowed
two short-form GALA cards to replace up to 40 cards
available in the previous GEMYC-D generation.
The GEMYC-D system allows spearheading with
a product portfolio which helps to improve public
safety, as in the 112 emergency centre cases of
the Community of Madrid, awarded as the best
European 112 emergency centre in 2009 and 2010,
and as the largest 112 emergency centre in the
world in Mexico City.
The other line of work aims to develop a new family of
products of onboard mobility, similar to those which
equip the entire fleet of vehicles of the Civil Guard and
to reduce the costs of innovation and thus increase
the efficiency and achieve greater competitiveness
in the global market. This, moreover, in the case
of countries in technological development, entails
a transfer of technology in line with the corporate
social responsibility commitments of Amper.
Agreement with Mistral Solutions
In line with this strategy, a manufacturing agreement
with the Mistral Solutions company in India was
signed in May 2011, following an innovative cost-
sharing scheme which has given the Indian company
the exclusive distribution of security products of
Amper in the region, with an immediate success
in obtaining contracts for the protection of various
high-capacity private ports, and the promotion
of these products to suit the true India to various
clients. In connection with this, Mistral Solutions
has created a Homeland Security division for the
promotion and marketing of Security in India under
the leadership of an Executive Vice President.
Another aspect of the agreement provides for
the redesign of Amper security products and the
commissioning of its production worldwide, and
this has led to the opening of a joint Amper-Mistral
hardware Development Centre and based in
Bangalore.

Amper · 37
much of the police forces to allow the management
and access to central databases when they are on
patrol. This group of product consists of a group
of onboard computers known as Family “K”, which
introduce new opportunities to the market, such as
integration, video recording and broadcasting from
the vehicle itself and the management of the voice
communications from the computer itself (using a
mini embedded GEMYC-D).
All these new developments are already in production
and represent the new generation of Amper products
to provide effective security solutions to the Fire
Brigade, Civil Defence, 112 emergency management
centres, Health Emergency Services, Police and
Security Forces, Transport and Public Services
and Border Protection markets as it relates to the
integration of telephone and radio communications,
onboard mobility and the location of assets.
The mass production is also executed in India for
all Amper clients in the entire world, except in cases
where local development is required.
More than 100 people work in this new generation
of products. Not only in the joint Amper-Mistral
hardware centre in Bangalore, with an average of
over 15 Indian engineers over a year, but also in
the competency centres of Amper in Spain (Tres
Cantos and Barcelona, devoted primarily to high
level software development and hardware design), as
well as in the recently opened software development
centre in Colombia (Bogota) does Amper personnel
work for the integration of radio technologies and
standards into the system.
Amper is currently working on the next phase
of the renovation of other products, defining its
target market and the unique features that make
them stay at the technological forefront of the
radio communications management systems in
emergency situations and mobility.

Amper · 39
2011 has been for a year marked by Transformation for Amper.
The creation of a work environment which promotes the ongoing
transformation of our Company has been one of our priorities and
its three pillars have marked its course promoting initiatives based
on internationalisation, the continuous search for innovation and the
work on all the factors that could be catalysts for the improvement of
efficiency in all functions and at all organisational levels and from all
geographical areas of the Group.
This is how a project has been coming to fruition, a project which aims
not only to achieve a permanent identity at the heart of our activities,
but aims to develop specific plans to ensure that transformation is a
constant in our approaches and actions, spreading out into our client
relationships, the information systems that support the processes, and
the organisation of our resources in an increasingly multinational and
global company, whose unwavering goal is to achieve sustainability.
The Transformation project of Amper has sought excellence for the
sake of our clients, our shareholders, our partners and, of course, of
all our professionals. And in the quest to formalise the mechanisms to
“industrialise” the aforementioned transformation, the Transformation
Office has emerged, providing support, coordinating and unifying the
efforts of the five projects that make up TransfórmaT, the Comprehensive
Transformation Project of the Company.
In search of global efficiency:
The TransfórmaT project

For its launch, Amper brought together all of
its professionals virtually: nearly two thousand
employees from all over the world were connected
virtually with Sao Paulo on the 15th and 16th of
March, to participate actively in its presentation
conferences, and sharing and commenting on
proposed projects for improving the efficiency of the
Company. Group management, meeting at a hotel
in Sao Paulo, outlined its plans while in constant
communication with the rest of the nearly two
thousand professionals around the world who were
following the interventions from offices in Europe,
Asia, Africa and North and South America, via audio
or video conference, communication webcast and
interaction via chat through a social network created
specifically for the occasion.
Client Satisfaction
Essential and indispensable for any company, it
is also important for Amper to have clients who
are increasingly satisfied with our service and an
organisational culture that is ever more sensitised in
this aspect. For this reason, the project has focused
on the implementation of a continuous measurement,
analysis and reporting system of client satisfaction,
as well as in the development of a communication
model of the results of this measurement, in order
that the responsible personnel for carrying this out
are able to develop and implement improvement
plans, and the organisation and the clients are
aware of these levels of satisfaction and the plans
which have been developed to improve them.
The project also includes the design of a monitoring
model to analyze the performance of the plans.
Client Engineering
The next project directly related to our clients
endeavoured to maximise the use of the engineering
talent and capabilities of global presale of Amper to
increase our attunement with their business needs
and to thus offer them innovative and differentiated
solutions and approximating to their real needs.
The major challenge of this project involves the
design of an efficient operating model replicated
in all operations, which in turn facilitates the
use of the engineering resources and raises the
level of interaction with key clients. In the model,
the orchestration of all functions involved in the
presale operations is essential when producing
differentiating proposals and in channelling the
experience of the best resources through the
creation of global centres of excellence.

Amper · 41
Execution and its impact on cash
Fortheexecutionoftheoperationstohaveanoptimal
impact on cash, it is essential to obtain the cash
levels required to fulfil the short, medium and long
term objectives through the transformation of the
components of cash generation and management
of the business cycle. This implies a more efficient
and effective cash management, the maximisation
of opportunities to generate cash in the execution of
projects and the establishment of mechanisms for
the measurement and control of quality of the cash
management and the impact of the execution of the
projects therein.
Sinergias de Backoffice
Achieving some support functions for the operation
in accordance with a multinational and market leader
company as is Amper requires a significant generation
of cost synergies, an increase in efficiency of the
organisation and improved management control. For
this reason, this project has focused on the creation
and implementation of tools which facilitate the back
office functions oriented to processes to enable the
achievement of consistency in regions and to make
growth scalable.
Communication
Lastly, the transformation in Amper requires a neural
network of information between the professionals and
stakeholders, as well as patterns and mechanisms to
generate an image consistent with the Company in
accordance with its strategy and corporate identity.
The combination of communication network and
mechanisms is the natural vehicle to achieve the
integration of all professionals in the culture of
transformation and innovation of Amper and to
transmit the strategic messages internally and
externally to employees, clients, shareholders,
communication media and the public in general,
of a multinational company as is Amper, excellent,
modern, innovative and a market leader.

Despite the current financial and economic situation,
Amper has continued its firm commitment to innovation
which, in a globalised scenario like the present, represents
a differential asset with a clear added value.
According to the internal powers or the planned business
models, this commitment is twofold: R & D + innovation or
technology agreements with strategic partners:
a sustainable innovation strategy.

Amper · 45
Strategic agreements
Amper has dedicated to its own Research, Development and Innovation
a total of 151 people and a volume of 12.6 million Euros in 2011, continuing
with its firm commitment to innovation. According to the internal powers
or the planned business models, this commitment is twofold: it’s own
R&D+innovation or the technology agreements with strategic partners.
Some of these agreements are described below.
Agreement with Telefónica
On 27 October 2011, Amper and Telefónica signed
a collaboration agreement to develop solutions
for defence, security and communications in Latin
America, which includes the establishment of a joint
proposal directed to large corporations, government
agencies and public bodies in the region that ensure
the security of the State and its citizens. This is an
area in which the two multinational companies already have experience
in working together in Spain and in other European countries. Within
this area of collaboration, Telefónica will provide a unique infrastructure
in the region, especially in terms of coverage, and will also provide its
capacity to integrate complex and cutting-edge projects. For its part,
Amper will provide applications, part of the software and its specific
experience in each product, along with the widespread deployment,
which it already has in the region.
Among the different solutions that integrate the agreement include the
InformationSystemsforCommandandControl,MobileCommunications
and Connectivity, Next Generation Networks, Border Protection
Systems, Emergency Management Systems and Critical Infrastructure
Protection Systems, among others.

These are cutting-edge solutions which have already
been deployed in other countries, including Spain.
Thanks to this agreement, the potential users will
be offered a solution which not only includes the
technical scope thereof, but also includes a solid
regional infrastructure and a long term logistical
support.
The agreement was signed in Madrid by Santiago
Fernandez Valbuena, president of Telefónica Latin
America, and he added that “this collaboration is
another step by Telefónica towards specialisation in
markets that are more mature from a technological
standpoint, offering high value solutions and
fulfilling the expectations of the most demanding
clients.” The agreement was also signed by Jaime
Espinosa de los Monteros, president of Amper, who
explained that “with this agreement, Amper further
strengthens its presence in Latin America and will
send its next generation solutions to that market,
which are already used by our various clients in
other regions”.
Agreement with Google Enterprise
The agreement which Amper signed at the beginning
of 2012 with Google Enterprise to use Google
Earth Enterprise in its security solutions entails a
pioneering integration of Google Earth Enterprise
Portable technology and Google Earth Enterprise
technology in the solutions of Amper.
The use of the map display systems of Google
Enterprise in the family of security products of Amper
C4ISRnemesistm
which is dedicated to emergency
management, protection of critical infrastructures,
border surveillance and mobility systems, and will
natively incorporate the Google Earth Enterprise
technology as its map display system. The agreement
signed with Amper is completely innovative given
that Amper has integrated the Geo Enterprise
technology into its products in an ”end to end” and is
also a pioneer in incorporating the new Google Earth
Enterprise Portable product.
This agreement allows Amper to substantially
increase the range of GIS (Geographic Information
Systems) technology options that Amper offers its
clients by incorporating one of the best-known,
most powerful and recognised technologies on
the market. The emergency management, border
protection and mobility control centres designed by
Amper will now be capable of being managed with the
support of Google Earth Enterprise over the Internet
for centres having access to an Internet connection,
or with Google Earth Enterprise Portable in-situ for the

Amper · 47
centres which, for whatever reason, cannot have a permanent Internet
connection, have limited bandwidth in critical situations or have high-level
operational demands.
The Google Earth Enterprise Portable solution offers flexibility when using
integrated geospatial data from the Amper Group, without the need to
access the net. Given that the hardware is portable and independent,
it may be accessed outside the office and will be vitally important in
disaster response, remote operations and remote view situations.
Agreement with Quantenna Communications
In November 2011, Amper and Quantenna Communications announced
the signing of the agreement to provide digital home wireless broadband
services. Quantenna Communications is a leading company in highly
reliable Wi-Fi networks for home entertainment, thanks to 4x4 MIMO
technology for next generation Wi-Fi router and its FTTH (Fibre to the
home) products. This technology will allow Amper to offer broadband
services wirelessly, making it possible to transmit and distribute high
definition television (HDTV), as well as any video format content to
multiple wireless devices. It will also simplify the installation and will
allow these services to reach all households quickly
regardless of its size, through concrete walls, floors and
devices simultaneously and reliably, that is, with the
standards of quality and the functionality required by the
new wireless entertainment products in the home.
Providers of broadband services are decidedly including high
performance and reliable Wi-Fi technologies in new wireless devices
to optimise the experience of the user and expand the applications
for these technologies. Quantenna is a leading provider of Wi-Fi 4x4

MIMO solutions which allow the manufacturers to
eliminate cables and provide broadband video and
TV services to the homes of the consumers.
Amper has taken another step with this agreement
in its mission to facilitate the transformation of
the market towards new business models and in
providing high added value communication solutions
to the most demanding clients. The agreement will
certainly strengthen the presence of Amper in Spain
in facilitating the implementation of its next generation
solutions in these markets.
Agreement with Fractalia Software
Amper and Fractalia Software established in 2011
a strategic partnership to develop and market
solutions of managed services capitalising on two of
the major values of the Amper Group: its important
recognition and penetration in the sector of
telecommunications service providers and its local
presence in all relevant markets of Latin America.
The range of services managed by Amper regarding
Fractalia solutions is framed within the IP Remote
Management Infrastructure (GRIIP, for its acronym
in Spanish) programme, a transversal programme
which aims to project the powerful integration
capabilities of Amper systems in the outsourcing of
services requirements of its clients.
Therearetwofunctionalareasforwhichthisproposalof
managed services is initially structured: Management
of Digital Signage Devices and Infrastructures. These
services allow operators to have a highly attractive
commercial offer, especially structured according to the
market segments. The factors of interest for the service
providers are objective: a flexible offer of professional
services and a fast time to market, combined with
low start-up costs and a pricing scheme in line with
specific demand.
The developed intense commercial effort has some
first concrete results, among which the awarding
of a project for the advanced management of jobs
for a large operator stands out. The offer of these
solutions in different operators and countries begins
to close the first marketing cycles.

Amper · 49
There is much talk today of the transformative impact and effect
which, on a global level, “the cloud” is producing in many areas. The
cloud in Amper is one of the catalysts of our vision to accelerate the
sectoral transformation which offers our clients a unique opportunity
for growth and differentiation in their markets.
In order to perform their daily activities, and for the achievement of the
medium and long term objectives of almost all companies or public
institutions, the strategic use of the Information and Communication
Technology (ICT) which has become an authentic lever for the
transformation of any area is absolutely necessary today. Thanks to the
above, the business, social, educational, governmental and individual
development on the planet has been possible and has been enhanced,
so that development, progress and innovation are now inseparable
from ICT. However, our daily experience is so imbued in them that the
essence of their role goes unnoticed, given that familiarity has made
them virtually “invisible” to us.
But for Amper, its visibility and relevance are very apparent, and
therefore we have tried to respond to the major dilemma that many of
our clients face every day: even though it is very clear to the individual
expectations and the organisational strategy how ICT can help
transform their business activity, making it smoother and less limited,
in practice, the technology platform that is available to them was not
necessarily conceived or executed under these premises. The cause
is the rapid development that the ICT has experienced in recent years,
The role of Amper in the cloud

creating enormous opportunities and challenges at
the same time.
All roads lead to the cloud
The cloud is perhaps the epitome of the changes
and developments that have been produced in ICT
in recent years.
Its concept is simple to understand: in 1880,
Thomas Alva Edison essentially patented the first
cloud when he conceived the centralised generation
model and a network for the distribution of electrical
energy. Today we no longer ask ourselves if the
energy that we use in our homes is generated in a
nuclear plant or in a hydroelectric plant, nor how it
reaches our home. We simply press the switch and
we expect to enjoy the convenience of having an
electric service regardless of the device that we use,
paying no more and no less than what corresponds
to the amount of energy that we actually consumed.
That is how we want the service based on an “ICT
in the cloud” model to be: easy, simple, convenient,
flexible, adjusted to our changing needs of use,
with immediate and secure availability, and with
unlimited features.
The cloud proposal of Amper lies precisely in the
realisation of this concept in which the ICT platform
that supports our clients operates under these
assumptions and makes possible the transformation
of their business by creating a virtuous cycle of
growth and differentiation. In Amper, we facilitate
the development towards this new model in which
technology is adapted to the business and not vice
versa, in which the barriers and limitations of what
can be done are no longer defined by the device or
the place in which users find themselves, in which
communication and collaboration are as flexible and
secure as the business requires, in which the capacity
to respond to the competitive environment can be
achieved in minutes rather than in weeks and in which
technology becomes “invisible” and is no longer
an obstacle to progress but rather facilitates and
accelerates the individual and collective productivity.
Public, private and hybrid Clouds
Our approach to cloud solutions facilitates the
safe integration of any type of device, application
and service in the virtual work environment of
the company, including scenarios such as BYOD
(Bring Your Own Device), VDI environments (Virtual
Desktop Infrastructure) and the management of jobs;
all supported in infrastructures of next generation
data processing centres in which applications and
services are abstracted from the layer of processing
resources, storage and communication and have

Amper · 51
the highest levels of redundancy, efficiency, security and flexibility
resulting in important cost savings and in a renewed agility.
For Communication Service Providers looking to evolve their offer in the
market, Amper has made its expertise ??in the design and operation of
public cloud systems available, as well as a broad portfolio of managed
services which can be incorporated into the catalo of these service
providers, enriching and complementing their offer to end clients.
For Business and Government Agencies interested in deploying their
own private clouds or develop hybrid clouds solutions in which the
resources of the private cloud complement each other in an elastic
and dynamic manner with the resources available in public clouds,
Amper offers its expertise and ability not only to build these platforms,
but to help these clients to truly transform their business around a
new paradigm for the provision and consumption of information
technology services.
The benefits to be gained by adopting an ICT architecture based on the
cloudarefarreachingandapplicabletosectorssuchasHealth,Transport,
The benefits to be
gained by adopting
an ICT architecture
based on the cloud
are far reaching and
applicable to sectors
such as Health,
Transport, Banking
and Finance, Local
Government, Energy,
Telecommunications
and many more

Banking and Finance, Local Government, Energy,
Telecommunications and many more. In Amper, our
commitment is to provide a comprehensive approach
to these solutions, adapting the best practices and
experiences and integrating in-house and third-party
technologies with our talent to maximise the benefits
of these initiatives. A clear example of how we have
implemented these concepts in Amper is that of our
CloudBranch architecture.
CloudBranch:
the transformation of the client
experience in the financial sector
In the financial services sector, it is imperative
to monetise the spaces of the agencies and
commercial offices, turning them into spaces which
are essentially oriented to the sale of services,
capable of generating and capitalising on business
opportunities. This strategy, which focuses on client
experience, pursues profitable growth, an increase of
revenue and cost optimisation of the branches. But
at the same time it is essential to provide equivalent
levels of access, services, information and support
for the various virtual offices through which financial
institutions interact with their clients: Website, mobile
banking applications (m-banking), virtual treasury, or
social media outlets, among others.
The CloudBranch reference architecture of Amper
offers a conceptual environment to accelerate the
transformation of the client experience in financial
institutions. CloudBranch, based on the fundamental
principles of the cloud, presents a methodology of
work and a range of solutions designed to enhance
the interaction of resources, assets and systems of
the organisation, developing specific plans for the
transformation of the communications infrastructure,
information processing, the collaboration and
relationship with the end client that ultimately executes
anewmodelofinteractionwhichismorefluid,dynamic
and flexible and relieves the institutions from the
limitations imposed by the traditional platforms and
which affects their ability to respond to the increasing
expectations of its clients.
CloudBranch is a clear example of how Amper assists
organisations in the evolution of their communication
and information architecture, offering a full range
of design, implementation, support and operation
servicesforthefullrangeoftechnologiesandsolutions
that make the experience possible, enriched with a
modern branch of financial services, regardless of
location, a mechanism and environment where the
clients can be found.

Amper · 53
Committed to Sectoral Transformation
The journey to the cloud offers significant benefits for all sectors of
economic activity: beyond being instrumental in the optimisation of
costs, the adoption of a business architecture based on the cloud can
become a powerful lever for competitive differentiation to spur innovation
and to take the productivity levels of the company to new heights.
The essential role of Amper in the cloud is precisely th at of supporting
its clients with a clear vision of how, by means of the cloud, the
business activity can be transformed and the risks can be minimised,
all the while maintaining a sure course to achieve the expected results.
In Amper, we understand how to make the cloud a key element to
accelerate the sectoral transformation, and in this way make the future
possible, today.
The adoption of a
business architecture
based on the cloud
can become a powerful
lever for competitive
differentiation to spur
innovation and to take
the productivity levels
of the company to new
heights

Amper acts as a socially responsible company in both
its operations and in its dialogue with its key players:
shareholders, clients, partners, suppliers, employees and
Society in general.

Amper · 57
Corporate Social Responsibility
The objective of Amper is to facilitate the transformation of the market
towards new business models by integrating its global talent solu-
tions and in-house technologies, and those of its business partners,
to meet the needs of the various sectors in which its clients operate,
and focusing on markets with a high growth potential.
Amper believes that this all contributes to the creation of value for its
shareholders, to the satisfaction of its clients, the enrichment of its
ecosystem which includes its clients, partners and suppliers, as well as
its professionals, and to the improvement of our environment.
Amper feels that one of its major commitments with Society is the firm
promotion of innovation and knowledge in a sustainable manner. And
Amper strongly believes that achieving sustainability contributes to the
progress of its ecosystem and that of Society.
InAmper,sustainabilityintheeconomic,environmentalandsocialcontexts
is based on a diversification of geographical areas and portfolios to cope
in an increasingly difficult environment of challenges and opportunities
that the market and its target audiences set forth. For this reason, the
responsibility of Amper is manifested in different areas:
With its shareholders, applying the maximum effort to the
effectiveness of a management designed to achieve the greatest value
for its investment within the highest standards of corporate governance,
for which the company has adopted codes and procedures to ensure
transparency and the best practices in all of its activities.

With its clients, the foundation of its existence to which it devotes
all its efforts in order to achieve the best service and with the highest
excellence.
With its partners and suppliers, with which transparent relationships
aimed at developing mutual opportunities based on ethical codes of
conduct, are established.
With its professionals, who are considered their greatest business
asset and for who models of development, reconciliation programmes,
career plans and the commitments to diversity and the equality of
career opportunities are established.
And with Society, for which Amper operates at all times, and with
a commitment to the environment and an involvement in projects of
solidarity essence.
Responsibility to their shareholders.
Corporate Governance
Amper devotes special attention to its corporate governance as a
guarantee of the rights of its shareholders, and all of their practices
adheretothenationalandinternationalguidelinesonGoodGovernance.
The Company rigorously and extensively complies with the information
requirements of this model which the National Securities Market
Commission (CNMV, for its acronym in Spanish) requires, and which
can be found in written form in the corresponding document found on
the website of the company (www.amper.es).
Their governing bodies are structured so as to ensure the separation
between the functions of supervision and control and those of executive
management, as well as the identification of shareholders, in the
verificationofpossibleconflictsofinterestoftheDirectorsoftheCompany
in the performance of their duties and in the risk control mechanisms
Amper is committed
to various areas of
communication and
the meeting with
investors to convey
to them meaningful
information regarding
the development of its
activities

Amper · 59
put in place to verify the efficiency of its operations,
viability, sustainability and the safeguarding of the
rights of their co-owners, the shareholders.
30% of the Board of Directors is currently made
up of nominee directors and 70% of independent
and executive directors. This is in compliance
with the best practices of corporate governance.
Also, the supervisory function of the Chairman
of the Board of Directors is clearly separate from
the executive function which corresponds to the
Chief Executive Officer.
The essential governing bodies are formed by the
GeneralMeetingofShareholders,theBoardofDirectors
anditsDelegateCommittees,withthefollowingspecific
responsibilities: the Audit and Control Committee, the
Appointments and Remuneration Committee and the
Executive Committee consisting of the Chairman of
the Board of Directors, the Chief Executive Officer,
a nominee director and two independent directors,
and with the functions including the preparation and
proposal of the Strategic Plan or Business Plan to the
Board of Directors, the preparation and proposal
of the Annual Budget to the Board of Directors, the
analysis and the proposal of the acquisitions or of
the corporate operations of the Group to the Board
of Directors and the execution and monitoring of the
resolutions adopted by the Board of Directors.
Over and above the legal obligations relating to the
communication to the regulatory agencies of periodic
financial and management information, which are
met with the utmost rigor, Amper is committed to
various areas of communication and the meeting with
investors to convey to them meaningful information
regarding the development of its activities, among
which includes the website of the Group which offers
real-time information on decisions of management,
the contracts awarded, the agreements signed
with partners, the press releases sent to the media
and the legal information that is submitted to
regulators, as well as any financial and business
information reflecting the reality of the offer and the
operations of Amper. This allows an exchange of
transparent information that is continuous with all
those interested in knowing the operations of the
company in the stock market.
Narop in Portfolio
3.99%
Liquidambar
3.95%
Free Float
37.73%
Veremonte
28.39%
Banca Cívica
4.02%
TviKap
17.37%
Telefónica
4.56%
*Should Veremonte subscribe the capital increase whose
subscription offer period ends on the 31st
December 2012

Responsibility to their professionals
Amper is a company in continuous transformation.
In a globalised and changing world, the organisation
must create value for all its professionals, optimise
its structure and effectively manage its human
resources to successfully face the challenge of
efficiently providing innovative solutions that meet
the needs of its clients.
With a workforce of 1,915 employees distributed
over 15 countries, its presence in the markets where
the company operates has the objective of proximity
to the client so that its value proposition respond
to real needs and with a sizing in accordance with
the market characteristics in both technological and
competency diversity as well as in volume.
Amper bases its business model on the knowledge,
innovation and efficiency of its operations and, in
order to achieve these objectives, the professional
competence of its employees is essential. The staff
consists of highly qualified professionals. 54% of the
staff has university degrees and 37% are technical
specialists. Both groups have extensive and proven
experience in the sector.
The average age of those who compose the
organisation is 38 years, and three quarters of the
staff are under 45 years of age. This makes Amper a
dynamic and flexible company which is a prerequisite
to successfully meet the demands of a global and
competitive market in which 210 professionals were
dedicated to R&D+innovation in 2011.
Development Model
The main capital of Amper is its employees, which
are the basis of its talent as a company. In order
to retain and promote this talent, a Development
Model has been implemented aimed at improving
the professional skills of their professionals through
a programme specifically designed and directed for
this purpose.
The professionals of Amper receive technical
training in the broad family of technologies, products
and systems, for both the development of in-
house products as well as to make the products
and solutions of its technology partners, or of
other technology providers whose products are
integrated by Amper, competitive in the solutions
proposed to its clients. This makes Amper a
reference company in technological competence
and in innovation.The internal training is not only
aimed at acquiring technical knowledge but also
in acquiring the skills necessary to optimise the
performance of the functions.

Amper · 61
Also, and in another conceptual field, training programmes in occupational
riskprevention are carried out in order to secure better and safer working
conditions. In 2011, a total of 60,000 hours were spent in training all
professionals of the Company.
Career Development
During the financial year, new promotion mechanisms have been put
into effect so that all employees can access the vacant internal positions
which offer opportunities for mobility within the company to develop
their professional careers. Access is universal and the response does
not have any strings attached.
Reconciliation
The “Complace” (“Pleased”) project is aimed at strengthening the
reconciliation of the professional and personal life of Amper professionals
and in improving the work environment. A special effort has been made
in this project to use Telecommuting as a reconciliation tool which, at the
same time, increases efficiency and productivity. Today, almost 20% of
the workforce telecommutes in one way or another.
Multinational Diversity
The integration of the activities of the Company in Europe, Asia, Africa,
Pacific, North America and South America has led to the incorporation
of professionals of different nationalities to the operations and,
consequently, the growth of the company’s diversity. This makes
BRAZIL
208
COLOMBIA
167
SAMOA
151
AMERICAN
SAMOA
88
VENEZUELA
118
MEXICO
89
ARGENTINA
76
ECUADOR
66
COSTA RICA
66
PANAMA
44
HONDURAS
17
EL SALVADOR
7
GUATEMALA
7
USA
34
SPAIN
777

Amper a company with a clear multinational focus
in which a spirit of continuous improvement in the
relationship with its employees is one of its main
lines of action. In this regard, the Company is
undergoing a globalisation of its structure which
consists of 1,915 people, taking into account their
functions, and decoupling them from a particular
physical location.
Commitment
In order to strengthen the commitment of the
company to its shareholders, a stock option plan
has been developed and aimed at committing nearly
one hundred of its executives to achieve greater
profitability and a better long term position of the
company in the markets.
Responsibility to its suppliers and
partnerss
In the ecosystem of Amper, like the rest of its
members, the partners and suppliers are fundamental
in providing solutions not covered with the in-house
technology.
For this reason, and in line with its multinational
nature, Amper looks for, develops and establishes
agreements with leading suppliers of technologies
in its sector worldwide.
The relationships established with these are
based on trust, honesty and mutual transparency
criteria, and their selection is made to ensure
the strict compliance and confidentiality of the
information shared, and is as important, or more,
as its technological competence which must have
the necessary level in order to offer its clients the
highest quality and adaptation of the solutions
offered to their needs.
The professionals of Amper operate in teams with
them in which information and objectives are shared
in order to achieve the best results.
Responsibility to their clients
Offering their clients cutting edge products and
solutions to help them transform their businesses in
order to meet their needs with the highest standards
of quality constitutes one of the keys of the mission
of Amper and of its business management.
For this reason, Amper makes their extensive
experience available to its clients. This experience
has been gained over its entire history and from
all geographic regions in which Amper operates.
The wide variety of strategies and requirements
that Amper has had to meet in serving its clients
throughout its existence is a valuable asset that is

Amper · 63
implicit in any of the proposed solutions to its clients in a roundtrip
enrichment mechanism: the acquired knowledge of its clients in the
study of the requirements to meet is assimilated, transformed, applied
and returned as a value added to the solutions proposed.
And all this with a quality and excellence package that is certified by the
most demanding certifications: ISO 9001, ISO 14001 for environmental
management, OHSAS 18001 for Safety and Health at Work and
Common Criteria.
Responsibility to Society
Amper is socially involved in the communities in which it operates
and limiting the environmental impact of their activities, altruistically
collaborating with the communities by sponsoring or promoting health,
cultural or health education projects for groups in need.
Their environmental footprint, due to the nature of their activities, is
reduced. However, Amper has an active strategy of environmental
care and of development of sustainable activities. This is extended, in
accordance with the ISO 14001 standard, to the efficient use of limited
resources, energy savings in production, as well as in the climate
control or lighting of the facilities, or to the recycling of waste.
In Spain, Amper collaborates with the Spanish Association Against
Cancerinajointprojectinwhichtheiremployeesandtheiryoungchildren
also participate. They remain committed as Sponsoring Partner of the
“Museo Nacional centro de Arte Reina Sofía” (Queen Sophia National
Art Centre Museum), and has participated in the sponsorship of awards

Amper · 65
and scholarships with the Official Association of
Telecommunications Engineering since its inception.
The final prize awarded was the “Best Final Project”
in communications and information systems for
critical infrastructure protection and / or crisis and
emergency situations.
Within its business activity, Amper is a member
of Ametic, the employers’ organisation of the
Spanish industry of electronics and of information
technology, with which it collaborates in sponsoring
the Telecommunications Week. This event takes
place at the International University of Menendez
Pelayo in Santander. Amper is also affiliated to
the Independent Business Corporation of Madrid
(CEIM, for its acronym in Spanish).
In Brazil, the most outstanding project of the past
year has been the collaboration with “The Crusade
for Children” which provides services to children,
young people and senior citizens.
The monitors help in developing the skills of the
community, promoting improvements to the quality
of their lives and helping to produce positive
changes in their communities. The Crusade for
Children has received over 3.5 million visits in the
last 22 years, and currently provides services to
approximately 750 children between 4 months and
6 years of age in five nurseries, offers additional
training to nearly 400 young people between 17 and
19 years of age, manages two community centres
that serve 100 people over 65 years of age and a
Training Centre. In addition, the hundreds of families
of all those who receive care are benefiting from the
training workshops for the generation OF income,
conferences and seminars.
In Colombia, the company makes a donation to the
Foundation for Soldiers wounded in Combat.
In Costa Rica, the company works on a project with
the National Scholarship Fund and the Chamber of
Technology to train young people in underprivileged
areas as network administrators.
In Mexico, the employees of the company participated
in the “Aquí nadie se rinde” (Nobody gives up)
Foundation at a sporting event.
In Panama, Amper is sponsoring a social activity in
support of a foundation for children with Leukemia
and Cancer.

2011 2010
NON CURRENT ASSETS 180,932 139,255
Goodwill (Note 4)
Intangible assets (Note 5)
Tangible fixed assets (Note 6)
Shareholdings in associated companies (Note 7)
Long term financial investments (Note 8)
Deferred taxes (Note 19)
Other non current assets (Note 8)
95,857
10,426
34,569
229
2,696
33,194
3,961
83,746
9,392
6,003
4,657
3,278
31,301
878
CURRENT ASSETS 260,283 206,962
Inventories (Note 9)
Short term financial investments (Note 8)
Trade receivables and other accounts receivable (Note 10)
Cash and other equivalent liquid assets
29,465
5,257
164,785
60,776
37,867
4,125
111,113
53,857
TOTAL ASSETS 441,215 346,217
NET EQUITY (Note 11) 54,917 57,121
Of the Parent Company
Share Capital
Retained Earnings
Treasury Shares
Of the Non-controlling interests
25,050
32,403
(3,281)
(4,072)
29,867
40,439
32,403
12,321
(4,285)
16,682
NON CURRENT LIABILITIES 153,403 32,205
Deferred Revenue
Long term provisions (Note 12)
Bank borrowings (Note 13)
Other long term accounts payable (Note 14)
1,819
17,114
124,716
9,754
1,863
18,136
4,992
7,214
CURRENT LIABILITIES 232,895 256,891
Short term bank borrowings (Note 13)
Trade receivables and other accounts payable (Note 14)
Tax liabilities (Note 19)
Liabilities for current income tax (Note 19)
25,544
196,897
7,085
3,369
103,980
138,035
7,961
6,915
TOTAL LIABILITIES AND NET EQUITY 441,215 346,217
Amper, S.A. and its Subsidiary Corporations
Consolidated balance sheets corresponding to the Financial Years ending on 31 December 2010
and 2011.
(Thousands of Euros)
Notes 1 - 27 described in the Annual Consolidated Financial Statements are an integral part of the Consolidated Balance Sheet
of 31 December 2011.

Amper · 67
2011 2010
Net amount of the turnover (Note 15)
+ / - variation in stocks of finished goods and under manufacture
Supply and consumption (Note 18)
392,715
(172)
(246,898)
261,812
4.018
(164,939)
GROSS PROFIT 145,645 100,891
Other operating revenue
Staff costs (Note 18)
Appropriations to amortisations (Note 18)
Other operating expenses (Note 18)
4,786
(89,250)
(10,723)
(38,009)
6,417
(88,091)
(6,454)
(28,387)
OPERATING PROFIT 12,449 (15,624)
Financial revenue (Note 16)
Financial expenses (Note 16)
Exchange rate differences (Note 16)
Gain or loss on impairment / reversal of impairment of assets (net)
Gain or loss of companies consolidated by equity method
1,969
(11,393)
(3,027)
189
---
4,023
(7,052)
(489)
(2,501)
114
PROFIT BEFORE TAXES 187 (21,529)
Tax on profits (Note 19) (4,587) (11,212)
PROFIT FOR THE YEAR FROM ONGOING OPERATIONS (4.400) (32.741)
Attributable to:
Shareholders of the Parent Company
Non-controlling interests (Note 11)
(8,338)
3,938
(33,772)
1,031
Earnings per share
Basic = Diluted Earnings (0.264) (1.144)
Amper, S.A. and its Subsidiary Corporations
Consolidated income statement corresponding to the Financial Years ending on 31 December 2010
and 2011.
(Thousands of Euros)
2011 BALANCE
SHEET
Notes 1 - 27 described in the Annual Consolidated Financial Statements are an integral part of the Consolidated Balance Sheet
of 31 December 2011.

Head Office - Amper Group
Madrid
C/ Marconi, 3. Parque Tecnológico de Madrid
28760 Tres Cantos - Madrid - Spain
T. +34 91 724 3000
F. +34 91 724 3010
Defence
Madrid (Head Office)
Polígono Industrial Los Ángeles
Autovía de Andalucía, km. 12,700
28906 Getafe - Madrid - Spain
T. +34 91 453 2400
T. +34 91 453 2401
UNITED ARAB EMIRATES
Abu Dhabi
ADNEC, Abu Dhabi National Exhibition Center
Grandstand Building, First Floor, Office nº 20
P.O. Box 95001, Abu Dhabi
T. +97 124 064 594
SPAIN
Albacete
Parque Científico y Tecnológico de Albacete
Paseo de la Innovación, 1
Edificio Centro de Emprendedores de Albacete
Oficina Módulo 1-9
02006 Albacete
T. +34 967 55 5319 ext. 1191
Communications and Security
Madrid (Head Office)
C/ Marconi, 3. Parque Tecnológico de Madrid
28760 Tres Cantos - Madrid - Spain
T. +34 91 724 3000
F. +34 91 724 3010
T. +34 91 453 2400
F. +34 91 724 3014
EPICOM
T. +34 91 327 3865 / 3589
F. +34 91 327 4049
ARGENTINA
Buenos Aires
Carlos Pellegrini, 1023
Pisos 13/14, Buenos Aires, C1009ABU
T. +54 11 4339 3628
BRAZIL
Río de Janeiro
Rua Afonso Arinos de Melo Franco, 222
Bloco 1, 12º e 13º andar
Barra da Tijuca - CEP 22631- 455 Río de Janeiro
T. +55 21 2546 3737
F. +55 21 2546 3709

Amper · 69
DIRECTORY
São Paulo
Rua Alexandre Dumas, 1901 Bloco B - 3º andar
Chácara Santo Antônio
CEP 04717-004 São Paulo - SP
T. +55 11 5180 0300
F. +55 11 5180 0301
Brasilia
SCN Quadra 5, Bloco A, Sala 1.407 - 14º Andar
Torre Sul - Asa Norte
CEP 70710-500 - Brasília - DF
T. +55 61 3327 0533
Barueri
Empresarial 18 do Forte -Av. Copacabana, 238 -
2º Andar. Barueri - SP CEP: 06472-001
T. +55 11 4191 8650
Belo Horizonte
Avenida Álvares Cabral, 1030, salas 904 / 905,
Belo Horizonte / MG, CEP 30.170-001
Vitória
Avenida 100, mod.12 e 16, Quadra 01, sala 43
TIMS - Serra - Vitória / ES, CEP: 29.161.384
T. +55 27 3323 7500
COLOMBIA
Bogotá
Carrera 7 No 71-52, Torre A, Piso 11, Bogotá D.C.
T. +57 1 3766900
Medellín
Edif. Bambú, Cra 43A No. 1 Sur - 106 Oficina 20
Medellín
T. +57 4 312 3073
F. +57 4 266 3451
Cali
Centro Empresa, Cll 64 Norte No. 5B - 146
Oficina 405c, Cali, Valle
T. +57 2 665 9593
F. +57 2 665 9591
COSTA RICA
San José
Centro Corporativo Plaza Roble.
Edificio Las Terrazas 1er Nivel
Escazú, San José de Costa Rica
T. +506 2505 6000
F. +506 2505 6001
ECUADOR
Quito
Av. 12 de Octubre, N24-660 y Francisco Salazar,
Edif. Concorde, Piso 9
Quito
T. +593 2 381 5210
Guayaquil
Av. Francisco de Orellana, Edif. World Trade Center,
Torre B, Piso 2, Ofic. 224
Guayaquil
T. +593 4 263 0548 / 0549
F. +593 4 263 0550
EL SALVADOR
San Salvador
C/ El Mirador, Colonia Escalón,
World Trade Center, piso 11
San Salvador
T. +503 2264 1646
F. +503 2534 9024

SPAIN
Algeciras
P.T.E. Marismas de Palmones
C/ Océano Atlántico. Parcela I.T. 3.2.
11379 Los Barrios - Cádiz
T. +34 956 67 5312
Asturias
C/ Travesía, 3
Nave 9, Parcela 50
33248 Llanera - Asturias
T. +34 630 92 4870
Barcelona
C/ Pujades, 350 planta 7ª
08019 Barcelona
T. +34 93 229 1440
F. +34 93 205 3237
Bilbao
C/ Gran Vía, 45 planta 1ª
Edificio Sota
48011 Bilbao
T. +34 94 479 9400
F. +34 94 479 9401
C/ Junqueral, 9
Edificio 2 Pab. M27
48903 Barakaldo - Bizkaia
T. +34 94 482 6794
Palma de Mallorca
C/ Juan Saridakis, 14 bajo local 8
Cala Mayor
07015 Palma de Mallorca
Seville
C/ Comercio, 5.
Polígono Pisa
41927 Mairena de Aljarafe - Seville
T. +34 95 418 5989 / 418 1858
F. +34 95 418 0963
Valencia
C/ Médico Esteve, 13, entresuelo, letra E
46007 Valencia
T. +34 96 310 7680
F. +34 96 380 3363
UNITED STATES
Miami
8333NW 52rd Street, Suite 400 Doral Florida
33166. Miami
T. +1 305 406 1091
F. +1 305 979 1510
GUATEMALA
Guatemala City
5ta. Av. 5-55, zona 14, Edif. Euro Plaza, Torre 2,
Nivel 5, Ofic. 502. Ciudad de Guatemala
T. +502 2269 6610 / 6611 / 2363 4411
HONDURAS
Tegucigalpa
Centro Empresarial Los Próceres, Edif. No. 2
Tegucigalpa, Honduras
T. +504 269 1201
F. +504 269 1209

Amper · 71
MEXICO
Mexico D.F.
Paseo de Tamarindos, #90, Arcos Bosques Torre II,
Piso 8, C.P. 05120
Delegación Cuajimalpa, México D.F.
T. +52 55 5148 3430
NICARAGUA
Managua
Edificio Sumin, Piso1, Rotonda Universitaria,
50 metros al este, Managua
PANAMÁ
Panama City
Torres de Las Américas, Torre B, Piso 21,
Ofic. 2102, Panama City
T. +507 282 7100
F. +507 282 7101
DOMINICAN REPUBLIC
Santo Domingo
Torre Empresarial Piantini, Suite 303
Avenida Abraham Lincoln esquina Gustavo Mejía
Ricart - Santo Domingo, DN
T. +1 809 732 7100
SAMOA
Apia
Private Bag
Apia
c.o. Clarke Ey Lawyers,
Level 1, Lotemau Centre, Matafele,
Apia
AMERICAN SAMOA
Pago Pago
PO BOX 478
Pago Pago
TRINIDAD & TOBAGO
Trinidad
1 Phillip Street, Port-of-Spain, Trinidad, 999999
T. +1 868 680 2002
VENEZUELA
Caracas
Av. Blandín, Centro Comercial San Ignacio,
Torre Kepler, piso 10, Chacao, Caracas
T. +58 212 201 0600
Maracaibo
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Annual Report 2011

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