The severe impact of the economic and financial recession, in an environment that is more complex than ever before, was the defining characteristic of 2010. Despite this difficult context, CIMD group achieved solid results which will allow us to face future challenges with a consolidated business model.
The net results achieved in 2010, standing at over 13 million euros, vindicated the growth and diversification strategy that we have been implementing for several years and is clear evidence of our strength. Consequently, and despite the context described in the first few lines of this letter, I would like to add that the group's net turnover was 19.7% higher than the previous year, reaching 64.4 million euros.
These achievements are not only positive from the point of view of achieving our economic objectives, but also as regards less tangible aspects such as maintaining our staffing levels in such a difficult situation as this and the recognition of work "well done" by our clients. All of us who work at CIMD group every day contribute to this success in the different activities that we perform.
Over the past year, our institutional brokerage activity continued its upward trajectory across the different markets. One significant piece of data worth highlighting is our average daily operations volume of 1,483 transactions. This represents a 10% increase on the volume achieved the previous year, allowing us to maintain our leadership position in the Spanish and Portuguese sectors.
In the Consultancy and Assessment area, we have taken advantage of the current economic and financial climate to continue expanding our services. We also participated in several Savings Bank merger processes and consolidated our position as leaders in risk assessment.
From our management activity, it is worth highlighting the agreement reached to manage investment funds for a financial institution. This has allowed us to exceed the 150 million euros mark in funds managed, and we have also opened 4 new securitisation funds.
Finally, in the electricity markets area we have continued to grow as the largest independent electricity manager in Spain under the special regulatory scheme, providing our services 24/7 in some areas.
I also firmly believe that the Group has benefited from the equity strengthening policy. Over recent years, this has allowed us to make investments and to diversify our activities in order to tackle the future from a very positive base.
Of course, this would not be possible without the Group's main asset: directors and employees whose work, effort and dedication has brought us this far over the years. It is worth highlighting some data, such as that 40% of our staff are women, that we have employees from 16 different nationalities, and that our.
Lisbon office has been awarded the prize of best SME to work for in Portugal. I am sure that these characteristics endow the Group with a special and unique culture.
The CIMD Group Solidarity Day, a pioneering event in the Spanish market, is a source of pride for the entire company. Now in its sixth year, thanks to the extraordinary cooperation of our clients and the efforts of our employees, we were able to collect 315,600 euros, thus totalling more than one million euros since the initiative began in 2005. These funds are dedicated to research and children. Furthermore, for the first time, an initiative originally proposed by an employee saw 120 children receive a Christmas present.
Finally, I would like to express my thanks to all of the members of the Board of Directors for their hard work and dedication. I am convinced that together we will be able to develop new lines of business and to grasp the opportunities of the future.
Ramón Moreno
Chairman, CIMD SA
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