ACCIONA, S.A. AND SUBSIDIARIES (Consolidated Group ...

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C) ENERGY. In addition to the costs initially incurred by the Group in the installation of its wind farms and other renewable energy production plants, in 2011 the Group incurred expenses of EUR 20,029 thousand (2010: EUR 2,362 thousand) in relation to environmental issues. Also, in 2011 investments of EUR 1,443 thousand were made in projects specifically designed to protect and enhance the environment (2010: EUR 1,011 thousand). D) WATER AND ENVIRONMENT. The environmental activity expenses recognised directly in the 2011 consolidated income statement amounted to EUR 4,960 thousand (2010: EUR 1,097 thousand in relation to Urban Services). In 2011 investments of EUR 1,764 thousand were made. E) OTHER BUSINESSES. The environmental activity expenses recognised directly in the 2011 consolidated income statement amounted to EUR 1,659 thousand. 32.- Earnings per share Diluted earnings per share coincide with basic earnings per share, the detail being as follows: 2011 2010 Net profit for the year (thousands of euros) 202,062 167,219 Weighted average number of shares outstanding 59,447,596 61,221,464 Basic earnings per share (euros) 3.40 2.73 33.- Events after the reporting period On 12 January 2012, the Board of Directors of ACCIONA, S.A. approved the distribution of EUR 1.026 gross per share as an interim dividend to be approved with a charge to 2011 profit by the shareholders at the forthcoming Annual General Meeting. The interim dividend payable totals EUR 65,202,300. The appropriate tax withholdings payable are deducted from this amount. The dividend was paid on 20 January 2012. 34.- Related party transactions As indicated in these notes to the consolidated financial statements, transactions performed by the Company with its subsidiaries (related parties) as part of its normal business activities (as regards their purpose and terms and conditions) have been eliminated on consolidation and are not disclosed in this Note. Transactions between the Group and its associates are disclosed below. - Page 107 -
Transactions with associates The detail of the balances receivable from and payable to associates at 31 December 2011 and 2010 is as follows (in thousands of euros): Receivables / Expenses Payables / Income 2011 2010 2011 2010 Trade and other receivables 13,815 4,446 Trade and other payables 4,691 3,330 Loans to associates 29,639 27,317 Income and expenses 3,825 3,539 6,282 6,435 The balances with Group associates relate mainly to services rendered by Acciona Infraestructuras to various associates and to loans provided to associates. These transactions were performed at market prices. Transactions with shareholders In 2011 there were no significant transactions involving a transfer of resources or obligations between the Parent or its Group companies and the Company's main shareholders. Transactions with directors and executives The Group's “related parties” are deemed to be, in addition to the subsidiaries, associates and jointly-controlled entities, Company management's “key personnel” (its directors and senior executives, and their close relatives) and the entities over which key management personnel may exercise control or significant influence. Following are the transactions performed by the Group in 2011 and 2010 with its related parties, differentiating between the Company's significant shareholders, directors and managers, and other related parties. Related party transactions are made on terms equivalent to those in the arm's length transactions that usually take place in a normal business relationship with Acciona, S.A. or the Group companies within the scope of these entities' ordinary business activities. These transactions consisted basically of: - Page 108 -
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ACCIONA, S.A. AND SUBSIDIARIES (Con
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17. PROVISIONS 18. BANK BORROWINGS
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Translation of consolidated financi
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Beginning balance at 01/01/10 Adjus
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The Acciona Group's consolidated fi
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The financial statements of jointly
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Standards, amendments and interpret
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3.2 Accounting policies The princip
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The assets and liabilities acquired
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- The infrastructure is operated by
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Goodwill of companies The Acciona G
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The rates used, by division and cou
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- The concession operator receives
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- At fair value when it is possible
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Group policy on hedging: At the inc
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These assets are valued at the cost
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At 31 December 2010, Acciona, S.A.
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For each of the plans, any positive
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Machinery whose useful life exceeds
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The deferred tax assets and liabili
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These assets or disposal groups are
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- The results for tax purposes of t
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At 31 December 2011, the Group comp
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6.- Goodwill The changes in 2010 in
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In 2011, as in 2010, the main addit
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The Acciona Group's interests in as
Page 58 and 59: - Page 57 - Non-current Current Bal
Page 60 and 61: In 2011, since the lease expired, t
Page 62 and 63: At 31 December 2011, the Group comp
Page 64 and 65: The breakdown, by type of customer,
Page 66 and 67: c) Treasury shares The changes in 2
Page 68 and 69: The changes in the balance of this
Page 70 and 71: Leverage Millions of euros 2011 201
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Page 78 and 79: Foreign currency risk 31/12/11 +0.5
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Page 92 and 93: At 2011 year-end, the period for of
Page 94 and 95: - Merger by absorption of Grupo Ent
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Page 104 and 105: 2011 Infrastructure Real Estate Ene
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Page 122 and 123: APPENDIX I GROUP COMPANIES The subs
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Page 132 and 133: Group company Auditor Operadora de
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Page 142 and 143: Company Location Main business line
Page 144 and 145: APPENDIX V DETAIL OF CONSOLIDATED R
Page 146 and 147: Translation of a report originally
Page 148 and 149: % EBITDA Jan-Dec 10 Jan-Dec 11 Ener
Page 150 and 151: - The volume of business of the Rea
Page 152 and 153: ACCIONA Energy’s revenue increase
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Page 156 and 157: Thanks to the positive performance
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Investments Net investments in 2011
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18 April 2011: sale of Chilean conc
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30 June 2011: ACCIONA submitted the
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Stock Market Data Share Capital Pri
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Before a decision is made to invest
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enhance environmental efficiency. I
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166 ongoing R&D+i projects were con
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However, the fall in growth has bee
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For the purposes of Royal Decree 13
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