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

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The Acciona Group's interests in associates are presented in Appendix III to these notes to the consolidated financial statements. There were no significant changes in 2011 or 2010. When the Group’s investments in associates (mainly certain toll road concession operators), accounted for using the equity method, are reduced to zero, or may include constructive obligations exceeding the contributions made, the losses or equity decreases are recognised under “Non-Current Liabilities - Provisions” in the consolidated balance sheet (see Note 17). In these cases, the losses are recognised under “Impairment and Gains or Losses on Disposals of Non- Current Assets” instead of “Result of Companies Accounted for Using the Equity Method”. The detail of the assets, liabilities, revenue and profit or loss for 2011 of the associates included under “Investments in Companies Accounted for Using the Equity Method”, in proportion to the Group's ownership interest therein, is as follows: (the figures relating to associates with an equity deficit, recognised on the liability side of the consolidated balance sheet, are detailed in Note 17): - Page 55 - Infrastructure concession operators Other associates Total 2011 Assets Non-current assets 97,424 81,997 179,421 Current assets 21,265 103,987 125,252 Total assets Equity and liabilities 118,689 185,984 304,673 Equity 21,685 61,776 83,461 Non-current liabilities 74,911 37,018 111,929 Current liabilities 22,093 87,190 109,283 Total equity and liabilities Profit or loss 118,689 185,984 304,673 Revenue 13,177 130,478 143,655 Profit before tax from continuing operations 2,241 2,581 4,822 Profit before tax 2,241 2,581 4,822
9.- Interests in joint ventures The Acciona Group's interests in joint ventures are presented in Appendix II to these notes to the consolidated financial statements. The most significant amounts included in the consolidated financial statements in relation to these interests at 31 December 2011 are summarised as follows: - Page 56 - Companies Unincorporated temporary joint ventures (UTEs) Revenue 363,418 1,166,075 Gross profit from operations 184,916 171,032 Profit from operations 87,847 151,940 Non-current assets 1,343,751 116,040 Current assets 381,048 1,012,069 Non-current liabilities 1,010,652 112,168 Current liabilities 289,490 839,914 10.- Current and non-current financial assets The detail of “Other Current Financial Assets” and “Non-Current Financial Assets” in the consolidated balance sheets is as follows: 2011 2010 Non-current Current Non-current Current Financial assets at fair value through profit or loss -- -- -- -- Available-for-sale financial assets 50,829 59 43,338 1,256 Financial derivatives at fair value (Note 20) 998 2,259 216 13,556 Held-to-maturity investments -- 298,872 -- 124,009 Deposits and guarantees 9,397 112,052 107,128 107,439 Impairment losses (7,760) -- (6,884) -- Subtotal: 53,464 413,242 143,798 246,260 Other loans 89,818 21,531 97,684 9,889 Impairment losses (3,343) (13,378) (17,458) (245) Subtotal: 86,475 8,153 80,226 9,644 Total, net 139,939 421,395 224,024 255,904 Available-for-sale financial assets: The changes in “Available-for-Sale Financial Assets” in the years ended 31 December 2011 and 2010 were as follows:
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ACCIONA, S.A. AND SUBSIDIARIES (Con
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17. PROVISIONS 18. BANK BORROWINGS
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
Page 54 and 55: In 2011, as in 2010, the main addit
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
Page 72 and 73: isks and uncertainties which, inevi
Page 74 and 75: Provision for other longterm employ
Page 76 and 77: of obtaining the related waivers, d
Page 78 and 79: Foreign currency risk 31/12/11 +0.5
Page 80 and 81: Economic risk vs. budget variances
Page 82 and 83: In 2011, through its subsidiary Com
Page 84 and 85: Summary of effects on valuation adj
Page 86 and 87: 22.- Other non-current and current
Page 88 and 89: On 12 February 2009, this Tribunal
Page 90 and 91: Reconciliation of the accounting pr
Page 92 and 93: At 2011 year-end, the period for of
Page 94 and 95: - Merger by absorption of Grupo Ent
Page 96 and 97: The detail of the cumulative income
Page 98 and 99: The breakdown, by geographical area
Page 100 and 101: 27.- Expenses The detail of the Gro
Page 102 and 103: 2011 (thousands of euros) Vessel Da
Page 104 and 105: 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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Group company Auditor Operadora de
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APPENDIX II JOINTLY CONTROLLED ENTI
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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
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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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