Annual Report 2012 - Indesit

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Consolidated financial statements at 31 December 2012 – Notes The calculations for the basic earnings per share and the diluted earnings per share reported in the consolidated income statement are set out in the following table: 31.12.2012 31.12.2011 Basic attributable earnings (million euro) 62.3 58.8 Basic average number of ordinary shares (thousands) 102,625.9 102,625.9 Ordinary EPS (without savings shares effect) 0.61 0.57 Unit earnings attributed to savings shares (euro) 0.61 0.57 Number of savings shares (thousands) 511.3 511.3 Earnings attributed to savings shares (million euro) (0.31) (0.29) Basic attributable earnings (million euro) 62.0 58.5 Basic average number of ordinary shares (thousands) 102,625.9 102,625.9 Basic EPS (euro) 0.60 0.57 Basic attributable earnings (million euro) 62.0 58.5 Basic average number of ordinary shares (thousands) 102,625.9 102,625.9 Average number of shares granted to Directors without payment (thousands) - - Average number of shares granted to employees without payment (thousands) - - Total 102,625.9 102,625.9 Diluted EPS (euro) 0.60 0.57 9.12 Non-controlling interests The equity attributable to non-controlling interests is unchanged. 9.13 Net financial position The net financial indebtedness of the Group is analyzed below: (million euro) Note 31.12.2012 31.12.2011 Current financial assets 9.13.1 29.4 20.9 Cash and cash equivalents 9.13.2 142.8 234.4 Banks and other short-term loans and borrowings 9.13.3 (197.8) (228.7) Net financial indebtedness position - short term (25.6) 26.6 Medium and long-term loans and borrowings 9.13.4 (232.3) (246.3) Net financial position * (257.9) (219.7) Other non-current financial assets 9.13.5 1.5 1.5 Total net financial indebtedness (256.4) (218.2) * As defined in CONSOB Communication DEM/6064293 dated 28 July 2006, applying the CESR recommendations dated 10 February 2005. 9.13.1 Current financial assets Current financial assets include the fair value adjustment of derivative financial instruments, 18.4 million euro (12.0 million euro), and other current financial receivables, 11.0 million euro (8.9 million euro). 78
Consolidated financial statements at 31 December 2012 – Notes 9.13.2 Cash and cash equivalents Cash and cash equivalents include bank and postal deposits, as well as checks and other amounts on hand. The changes in liquidity during the year are analyzed in the consolidated cash flow statement. This caption includes liquidity of 25.0 million euro held by the vehicle companies for the securitization that will be used to settle the financial payables (classified as current financial liabilities) arising under the program. 9.13.3 Banks and other shortterm loans and borrowings Current financial payables comprise amounts due within one year. This caption is analyzed below: (million euro) 31.12.2012 31.12.2011 Current portion of bank, loans and borrowings 79.8 83.9 Short-term advances for securitization 87.7 109.8 Liability from the measurement of derivative instruments 7.4 16.2 Current portion of bond 8.1 8.1 Current portion of medium/long-term bank, loans and borrowings 14.4 10.2 Current portion of other medium/long-term bank, loans and borrowings 0.5 0.4 Total 197.8 228.7 The current portion of bank loans and borrowings comprises bank overdrafts, the draw-down against revolving lines of credit and other short-term advances in various forms. The short-term advances for securitization relate to the amounts payable for securities issued as part of the securitization program. 9.13.4 Medium and long-term loans and borrowings The medium and long-term loans and borrowings are analyzed as follows: (million euro) 31.12.2012 31.12.2011 Bonds 156.8 161.0 Due to banks and other financial backers 75.6 85.3 Total 232.3 246.3 The bonds were subscribed for by institutional investors (U.S. Private Placement) in both euro and USD. The change in the fair value of this liability is offset by the change in the fair value of the derivative arranged to hedge exchange and interest-rate risk (Cross Currency Swap and Interest Rate Swap). Further information about the cross currency swap is provided in note 11 on financial instruments. Medium/long-term loans and borrowings are analyzed by maturity in the following table: (million euro) Medium/ long-term loans and borrowings Between 1 and 5 years Beyond 5 years Bonds 156.8 156.8 - Due to banks and other financial backers 75.6 62.8 12.8 Total 232.3 219.6 12.8 79
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Annual Report 2012 - Indesit

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