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

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17. PROVISIONS 18. BANK BORROWINGS 19. RISK MANAGEMENT POLICY 20. DERIVATIVE FINANCIAL INSTRUMENTS 21. PREFERENCE SHARES, DEBT INSTRUMENTS AND OTHER MARKETABLE SECURITIES 22. OTHER NON-CURRENT AND CURRENT LIABILITIES 23. TAX MATTERS 24. DISCONTINUED OPERATIONS AND NON-CURRENT ASSETS AND LIABILITIES CLASSIFIED AS HELD FOR SALE 25. GUARANTEE COMMITMENTS TO THIRD PARTIES 26. INCOME 27. EXPENSES 28. SEGMENT REPORTING 29. FINANCE INCOME AND COSTS AND OTHER INCOME AND EXPENSES FOR THE YEAR 30. PROPOSED DISTRIBUTION OF PROFIT 31. ENVIRONMENTAL MATTERS 32. EARNINGS PER SHARE 33. EVENTS AFTER THE REPORTING PERIOD 34. RELATED PARTY TRANSACTIONS 35. REMUNERATION AND OTHER BENEFITS 36. OTHER DISCLOSURES CONCERNING THE BOARD OF DIRECTORS 37. PAYMENT PERIODS 38. EXPLANATION ADDED FOR TRANSLATION TO ENGLISH I.- GROUP COMPANIES II.- JOINTLY CONTROLLED ENTITIES APPENDICES III.- COMPANIES ACCOUNTED FOR USING THE EQUITY METHOD IV.- CHANGES IN THE SCOPE OF CONSOLIDATION V.- DETAIL OF CONSOLIDATED RESERVES AND TRANSLATION DIFFERENCES DIRECTORS' REPORT - Page 3 -
Translation of consolidated financial statements originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the Group (see Notes 2 and 38). In the event of a discrepancy, the Spanish-language version prevails. ACCIONA, S.A. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS FOR 2011 AND 2010 (Thousands of euros) ASSETS Note 31/12/11 31/12/10 Property, plant and equipment 4 10,419,561 10,168,146 Investment property 5 341,858 349,475 Goodwill 6 1,048,760 1,049,396 Other intangible assets 7 743,987 661,680 Non-current financial assets 10 139,939 224,024 Investments accounted for using the equity method 8 82,229 75,984 Biological assets 11 6,814 6,800 Deferred tax assets 23 859,027 715,337 Non-current receivables and other non-current assets 12 378,143 364,377 NON-CURRENT ASSETS 14,020,318 13,615,219 Biological assets 11 -- -- Inventories 13 1,211,058 1,616,401 Trade and other receivables 14 2,473,530 2,368,962 Other current financial assets 10 421,395 255,904 Current income tax assets 15,742 59,109 Other current assets 251,072 239,053 Cash and cash equivalents 15 1,541,778 1,368,618 Non-current assets classified as held for sale and discontinued operations 24 391,947 978,925 CURRENT ASSETS 6,306,522 6,886,972 TOTAL ASSETS 20,326,840 20,502,191 EQUITY AND LIABILITIES Note 31/12/11 31/12/10 Share capital 63,550 63,550 Retained earnings 5,667,965 5,887,482 Treasury shares (411,129) (263,672) Translation differences 23,629 44,120 Interim dividend -- -- Equity attributable to equity holders of the Parent 5,344,015 5,731,480 Non-controlling interests 300,662 331,917 EQUITY 16 5,644,677 6,063,397 Preference shares, debt instruments and other marketable securities 21 56,495 57,537 Bank borrowings 18 6,680,740 4,938,782 Deferred tax liabilities 23 896,725 905,847 Provisions 17 609,782 526,174 Other non-current liabilities 22 541,156 610,481 NON-CURRENT LIABILITIES 8,784,898 7,038,821 Preference shares, debt instruments and other marketable securities 21 -- -- Bank borrowings 18 2,216,967 3,215,195 Trade and other payables 2,492,614 2,636,351 Provisions 180,832 205,160 Current income tax liabilities 88,288 18,129 Other current liabilities 22 700,400 616,295 Liabilities associated with non-current assets classified as held for sale and discontinued operations 24 218,164 708,843 CURRENT LIABILITIES 5,897,265 7,399,973 TOTAL EQUITY AND LIABILITIES 20,326,840 20,502,191 The accompanying Notes 1 to 38 are an integral part of the consolidated balance sheet for 2011. - Page 4 -
Page 1: ACCIONA, S.A. AND SUBSIDIARIES (Con
Page 6 and 7: Translation of consolidated financi
Page 10 and 11: Beginning balance at 01/01/10 Adjus
Page 14 and 15: The Acciona Group's consolidated fi
Page 16 and 17: The financial statements of jointly
Page 18 and 19: Standards, amendments and interpret
Page 20 and 21: 3.2 Accounting policies The princip
Page 22 and 23: The assets and liabilities acquired
Page 24 and 25: - The infrastructure is operated by
Page 26 and 27: Goodwill of companies The Acciona G
Page 28 and 29: The rates used, by division and cou
Page 30 and 31: - The concession operator receives
Page 32 and 33: - At fair value when it is possible
Page 34 and 35: Group policy on hedging: At the inc
Page 36 and 37: These assets are valued at the cost
Page 38 and 39: At 31 December 2010, Acciona, S.A.
Page 40 and 41: For each of the plans, any positive
Page 42 and 43: Machinery whose useful life exceeds
Page 44 and 45: The deferred tax assets and liabili
Page 46 and 47: These assets or disposal groups are
Page 48 and 49: - The results for tax purposes of t
Page 50 and 51: At 31 December 2011, the Group comp
Page 52 and 53: 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
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In 2011, since the lease expired, t
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At 31 December 2011, the Group comp
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The breakdown, by type of customer,
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c) Treasury shares The changes in 2
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The changes in the balance of this
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Leverage Millions of euros 2011 201
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isks and uncertainties which, inevi
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Provision for other longterm employ
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of obtaining the related waivers, d
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Foreign currency risk 31/12/11 +0.5
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Economic risk vs. budget variances
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In 2011, through its subsidiary Com
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Summary of effects on valuation adj
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22.- Other non-current and current
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On 12 February 2009, this Tribunal
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Reconciliation of the accounting pr
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At 2011 year-end, the period for of
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- Merger by absorption of Grupo Ent
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The detail of the cumulative income
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The breakdown, by geographical area
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27.- Expenses The detail of the Gro
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2011 (thousands of euros) Vessel Da
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2011 Infrastructure Real Estate Ene
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The detail of certain of the Group'
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C) ENERGY. In addition to the costs
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Expenses and income Significant sha
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35.- Remuneration and other benefit
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a) For each director belonging to t
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Beneficiaries: those persons who, a
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Vicente Santamaría de Paredes Cast
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36.- Other disclosures concerning t
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APPENDIX I GROUP COMPANIES The subs
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Group company Auditor Location Main
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Page 128 and 129:
Page 130 and 131:
Page 132 and 133:
Group company Auditor Operadora de
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APPENDIX II JOINTLY CONTROLLED ENTI
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Page 140 and 141:
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Company Location Main business line
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APPENDIX V DETAIL OF CONSOLIDATED R
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Translation of a report originally
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% EBITDA Jan-Dec 10 Jan-Dec 11 Ener
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- The volume of business of the Rea
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ACCIONA Energy’s revenue increase
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Acciona Real Estate (Millions of eu
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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
Page 164 and 165:
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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