Report 2010 - Italcementi Group

More documents

Recommendations

Info

Company Registered office Share capital Interest held by Group companies Method Direct Indirect % Helwan Cement Co. Cairo EGY LE 583,875,425.00 - 99.47 99.47 Suez Cement Company Line-by-line Helwan Bags Company Helwan EGY LE 6,000,000.00 - 71.00 70.00 Helwan Cement Co. Line-by-line 1.00 Development for Industries Co. SAE Hilal Cement Company Safat KWT KWD 6,987,750.00 - 51.00 51.00 Suez Cement Company Line-by-line Hormigones Olatzi S.A. Olazagutia E € 283,804.22 - 25.00 25.00 Hormigones y Minas S.A. Hormigones Txingudi S.A. San Sebastian E € 240,560.22 - 33.33 33.33 Hormigones y Minas S.A. Hormigones y Minas S.A. Malaga E € 8,689,378.20 - 99.99 99.99 Sociedad Financiera y Minera S.A. Line-by-line ICS Danube Cement S.r.l. Chisinau MD MDL 556,000.00 - 100.00 100.00 Devnya Cement AD Line-by-line Immobilière des Technodes S.a.s. Guerville F € 8,024,400.00 - 100.00 59.97 Ciments Français S.A. Line-by-line 40.03 Ciments Calcia S.a.s. Industrie Sakia el Hamra “Indusaha” S.A. Laayoune MAR MAD 81,680,000.00 - 91.00 91.00 Ciments du Maroc Line-by-line Innocon Inc. Richmond Hill CAN CAD 18,300,000.20 - 50.00 50.00 Essroc Canada Inc. Equity Innocon Partnership Agreement Inc. Richmond Hill CAN CAD 2,003.00 - 51.50 48.50 Essroc Canada Inc Equity 3.00 Innocon Inc. Interbulk Egypt for Export SAE Cairo EGY LE 250,000.00 - 100.00 98.00 Interbulk Trading S.A. 1.00 Menaf 1.00 Tercim S.A. Line-by-line Interbulk Trading S.A. Lugano CH CHF 7,470,600.00 - 99.99 66.75 Cifrinter S.A. Line-by-line 15.00 Intertrading S.r.l. 18.24 Ciments Français Europe N.V. Intercom S.r.l. Bergamo I € 2,750,000.00 - 100.00 99.50 Interbulk Trading S.A. Line-by-line 0.50 SICIL.FIN S.r.l. Inversiones e Iniciativas en Aridos S.L. Madrid E € 3,010.00 - 100.00 100.00 Ciments Français S.A. Line-by-line Investcim S.A. Puteaux F € 110,405,840.00 - 99.99 99.99 Ciments Français S.A. Line-by-line Italcementi for Cement Manufacturing Libyian Tripoli LAR LYD 20,000,000.00 - 50.00 50.00 Al Manar Cement Holding Proportionate Italmed Cement Company Ltd. Limassol CYP € 21,063,780.00 - 100.00 100.00 Halyps Building Materials S.A. Line-by-line Jalaprathan Cement Public Co, Ltd. Bangkok TH BT 1,200,000,000.00 - 58.96 12.42 Asia Cement Public Co., Ltd. (*) Line-by-line 37.00 Ciments Français S.A. 9.54 Vesprapat Holding Co, Ltd. (*) Jalaprathan Concrete Products Co, Ltd. Bangkok TH BT 280,000,000.00 - 58.95 58.95 Jalaprathan Cement Public Co, Ltd. (*) Line-by-line Johar S.a.s. Luxemont et Villotte F € 1,221,632.00 - 100.00 100.00 Tratel S.a.s. Line-by-line JTC Bangkok TH BT 10,400,000.00 - 58.95 58.95 Jalaprathan Concrete Products Co Ltd. (*) Kuwait German Company for Ready Kuwait KWT KWD 824,000.00 - 100.00 99.00 Al Mahaliya Ready Mix Concrete WLL Line-by-line Mix Concrete WLL 1.00 Hilal Cement Company Larricq S.a.s. Airvault F € 508,000.00 - 100.00 100.00 Tratel S.a.s. Line-by-line Les Calcaires Girondins S.a.s. Cenon F € 100,000.00 - 50.00 50.00 GSM S.a.s. Proportionate Les Calcaires Sud Charentes Cherves Richemont F € 1,524.50 - 34.00 34.00 GSM S.a.s. Les Graves de l’Estuaire S.a.s. Le Havre F € 297,600.00 - 33.33 33.33 GSM S.a.s. Proportionate Les Quatre Termes Salon de Provence F € 40,000.00 - 50.00 50.00 GSM S.a.s. Proportionate Les Sables de Mezieres S.a.s St Pierre des Corps F € 40,000.00 - 50.00 50.00 GSM S.a.s. Proportionate Les Sabliers de l’Odet Quimper F € 134,400.00 - 96.93 94.92 Dragages Transports & Travaux Maritimes S.A. Proportionate 2.01 GSM S.a.s. Lyulyaka E.A.D. Devnya BUL LEV 759,372.00 - 100.00 100.00 Devnya Cement AD Line-by-line Marvex Bulgaria EOOD Devnya BUL LEV 89,424,100.00 - 100.00 100.00 Sociedad Financiera y Minera S.A. Line-by-line Mauritanienne des Batiments et Routes S.A. Nouakchott MAU OUG 690,000,000.00 - 99.42 99.42 Mauritano-Française des Ciments Line-by-line Mauritano-Française des Ciments Nouakchott MAU OUG 1,111,310,000.00 - 51.11 51.11 Ciments Français S.A. Line-by-line Medcem S.r.l. Naples I € 5,500,000.00 - 50.00 50.00 Intercom S.r.l. Proportionate Menaf S.a.s. Puteaux F € 352,500,000.00 - 100.00 100.00 Ciments Français S.A. Line-by-line Met Teknik Servis ve Maden Sanayi Ticaret A.S. Istanbul TR YTL 50,000.00 - 99.99 99.99 Set Group Holding Line-by-line MTB - Maritime Trading & Brokerage Srl Genoa I € 70,000.00 - 33.33 33.33 Interbulk Trading S.A. Equity Naga Property Co Bangkok TH BT 100,000,000.00 - 58.95 58.95 Jalaprathan Cement Public Co. Ltd. (*) Line-by-line Neuciclaje S.A. Bilbao E € 396,669.00 - 30.00 30.00 Sociedad Financiera y Minera S.A. Novhorvi S.A. Vitoria E € 180,300.00 - 25.00 25.00 Hormigones y Minas S.A. 146
2010 Annual Report Presentazione 6 Consolidated Annual Report Directors’ report 27 Corporate Governance Consolidated financial statements Financial statements 68 Italcementi S.p.A. financial statements Notes 73 Annexes 142 Report of the Independent Auditors 151 Company Registered office Share capital Interest held by Group companies Method Direct Indirect % Parcib s.a.s. Puteaux F € 40,000.00 - 100.00 100.00 Ciments Français S.A. Line-by-line Procimar S.A. Casablanca MAR MAD 27,000,000.00 - 99.99 99.99 Ciments Français S.A. Line-by-line Raingeard Carrières Saint Herblain F € 705,000.00 - 100.00 99.98 GSM S.a.s. Line-by-line Bétons et Compagnie S.n.c. 0.02 Granulats Ouest - GO Ready Mix Production Company Cairo EGY LE 5,000,000.00 - 52.00 52.00 Suez Cement Company Line-by-line Ready Mix Production Universal Company Cairo EGY LE 15,000,000.00 - 52.00 52.00 Suez Cement Company Line-by-line Riverton Corporation Winchester USA USD 859,310.00 - 100.00 100.00 Riverton Investment Corporation Line-by-line Riverton Investment Corporation Winchester USA USD 8,340.00 - 100.00 100.00 Essroc Cement Corp. Line-by-line S.A. Dijon Béton Dijon F € 184,000.00 - 15.00 15.00 GSM S.a.s. Equity Saarlandische Zementgesellschaft MBH Saarbrucken D € 52,000.00 - 80.00 80.00 Cifrinter Line-by-line Sablimaris Lanester F € 4,094,776.00 - 100.00 66.28 Dragages Transports & Travaux Maritimes S.A. Proportionate Sable Classifie et Equipement de Wilson Ltèe 33.72 Les Sabliers de l’Odet Alcove CAN CAD 12,100.00 - 100.00 100.00 Essroc Canada Inc. Line-by-line Sas des Gresillons Paris F € 60,000.00 - 35.00 35.00 GSM S.a.s. Proportionate Sax S.a.s. Guerville F € 482,800.00 - 99.99 99.99 Ciments Français S.A. Line-by-line SCI de Balloy Avon F € 20,310.00 - 100.00 100.00 GSM S.a.s. Line-by-line SCI de Barbeau Bray sur Seine F € 8,000.00 - 49.00 49.00 GSM S.a.s. SCI des Granets Cayeux sur M. F € 4,575.00 - 33.33 33.33 GSM S.a.s. SCI du Colombier Rungis F € 2,000.00 - 63.00 63.00 GSM S.a.s. SCI Lepeltier S. Doulchard F € 6,150.00 - 100.00 100.00 GSM S.a.s. Line-by-line SCI Taponnat Cherves Richemont F € 1,500.00 - 50.00 50.00 GSM S.a.s. Scori S.A. Plaisir F € 1,092,800.00 - 13.95 13.95 Ciments Calcia S.a.s. Set Cimento Sanayi Ve Ticaret A.S. Istanbul TR TRY 28,206,537.00 - 99.81 99.81 Set Group Holding Line-by-line Set Group Holding S.A. Sahrayicedid-Kadikoy TR YTL 18,508,410.00 - 99.99 99.99 Ciments Français S.A. Line-by-line Shaanxi Fuping Cement Co. Ltd. Shaanxi Province PRC CNY 597,000,000.00 - 100.00 100.00 CIMFRA (China) Limited Line-by-line Shaanxi Shifeng Cement Co. Ltd. Shaanxi Province PRC CNY 100,000,000.00 - 35.00 35.00 Shaanxi Fuping Cement Co. Ltd. Shymkent Cement Shymkent KAZ TEN 380,660,000.00 - 92.88 92.88 Ciments Français S.A. Line-by-line Sider Navi S.p.A. Naples I € 22,000,000.00 - 20.00 20.00 Medcem S.r.l. Equity Singha Cement (Private) Limited Colombo SRI L. LKR 397,395,770.00 - 80.16 80.16 Ciments Français S.A. Line-by-line Sitapuram Power Limited Hyderabad IN INR 480,000,000.00 - 50.99 50.99 Zuari Cement Ltd. Line-by-line Sociedad Financiera y Minera S.A. Madrid E € 39,160,000.00 - 99.91 56.58 Sodecim S.a.s. Line-by-line 39.87 Ciments Français Europe N.V. 3.02 Hormigones y Minas S.A. 0.44 Sociedad Financiera y Minera S.A. (voting rights: 58.61 Sodecim S.a.s. 41.30 Ciments Français Europe N.V.) Société Calcaires Lorrains Heillecourt F € 40,000.00 - 49.92 49.92 GSM S.a.s. Proportionate Société Civile Bachant le Grand Bonval Guerville F € 1,500.00 - 80.00 80.00 GSM S.a.s. Société Civile d'Exploitation Rheims F € 3,000.00 - 90.00 50.00 Société Civile Bachant le Grand Bonval Agricôle de l'Avesnois 40.00 GSM S.a.s. Société de la Grange d'Etaule Gray F € 3,750.00 - 99.60 99.60 Ciments Calcia S.a.s. Line-by-line Société des Calcaires de Souppes sur Loing S.C.S.L. Souppes sur Loing F € 2,145,000.00 - 50.00 50.00 GSM S.a.s. Proportionate Société des Carrières Tournai B € 12,297,053.42 - 65.00 23.90 Ciments Français Europe N.V. Proportionate du Tournaisis S.C.T. S.A. 18.79 Ciments Français S.A. 16.31 Ciments Calcia S.a.s. 6.00 Compagnie des Ciments Belges S.A. Société Foncière de la Petite Seine S.a.s. Saint Sauveur les Bray F € 50,000.00 - 40.00 40.00 GSM S.a.s. Société Immobilière Marguerite VIII S.r.l. Casablanca MAR MAD 100,000.00 - 98.00 98.00 Ciments du Maroc Line-by-line Société Immobilière Marguerite X S.r.l. Casablanca MAR MAD 100,000.00 - 98.00 98.00 Ciments du Maroc Line-by-line Société Parisienne des Sablières S.A. Pont de L’Arche F € 320,000.00 - 50.00 50.00 GSM S.a.s. Proportionate Socli S.a.s. Izaourt F € 144,960.00 - 99.99 99.99 Ciments Calcia S.a.s. Line-by-line Sodecim S.a.s. Puteaux F € 458,219,678.00 - 99.99 99.99 Ciments Français S.A. Line-by-line Sodramaris La Rochelle F € 1,000.00 - 50.00 50.00 GSM S.a.s. Proportionate 147 www.italcementigroup.com
Page 1 and 2:
2010 Annual Report
Page 3 and 4:
2010 Annual Report Italcementi S.p.
Page 5 and 6:
In the past three financial years w
Page 7 and 8:
2010 Annual Report Presentation Gen
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25:
Page 28 and 29:
Directors’ report Following the a
Page 30 and 31:
Significant events for the year Sig
Page 32 and 33:
Business and financial performance
Page 34 and 35:
Fourth-quarter sales volumes and in
Page 36 and 37:
Revenues and operating results Cont
Page 38 and 39:
Total comprehensive income In 2010,
Page 40 and 41:
Net debt breakdown (in millions of
Page 42 and 43:
2010 to the Internal Control Commit
Page 44 and 45:
Conformity risks The Group is subje
Page 46 and 47:
constraints imposed by the stringen
Page 48 and 49:
The construction sector reported a
Page 50 and 51:
ASIA Thailand India Others (1) Tota
Page 52 and 53:
The reduction arose essentially as
Page 54 and 55:
Turkey Work continued in 2010 to ob
Page 56 and 57:
variable amount. The fixed amount i
Page 58 and 59:
Information systems The three-year
Page 60 and 61:
Raw materials and alternative fuels
Page 62 and 63:
Engineering, technical assistance,
Page 64 and 65:
serves public companies and institu
Page 66 and 67:
Set Group Holding represents a sign
Page 68 and 69:
Financial statements Balance sheet
Page 70 and 71:
Statement of comprehensive income (
Page 72 and 73:
Consolidated cash flow statement No
Page 74 and 75:
21. Deferred tax 22. Net debt 23. O
Page 76 and 77:
no longer generate goodwill, nor ga
Page 78 and 79:
Subsidiaries Subsidiaries are compa
Page 80 and 81:
1.5. Translation of foreign currenc
Page 82 and 83:
1.10. Intangible assets Intangible
Page 84 and 85:
deferred tax assets are reviewed at
Page 86 and 87:
Pending publication of a standard/i
Page 88 and 89:
2. Exchange rates used to translate
Page 90 and 91:
4. Operating segment disclosure The
Page 92 and 93:
Operating segments The table below
Page 94 and 95:
The table below sets out other segm
Page 96 and 97: Assets 5 Property, plant and equipm
Page 98 and 99: 6.2 Goodwill testing Goodwill acqui
Page 100 and 101: “Concessions” are amortized ove
Page 102 and 103: 9. Other equity investments This no
Page 104 and 105: 12. Trade receivables (in thousands
Page 106 and 107: 17. Dividends paid Dividends declar
Page 108 and 109: The movements in defined benefit li
Page 110 and 111: 20. Provisions Non-current and curr
Page 112 and 113: 22.1 Loans and borrowings Loans and
Page 114 and 115: ) in the third quarter of 2010, Ita
Page 116 and 117: v) in the third quarter of 2010, Ci
Page 118 and 119: Fair value - hierarchy In determini
Page 120 and 121: In 2009 and 2010, in view of the su
Page 122 and 123: 22.4 Interest-rate risk Notional va
Page 124 and 125: 22.6 Exposure to exchange-rate risk
Page 126 and 127: 22.8 Hedge Accounting The effects a
Page 128 and 129: At December 31, 2010, the average m
Page 130 and 131: 25. Goods and utilities expenses Go
Page 132 and 133: The following table sets out the de
Page 134 and 135: The reconciliation between the theo
Page 136 and 137: 34. Transactions with related parti
Page 138 and 139: 36. Cash flow statement 36.1. Cash
Page 140 and 141: 38. Considerations to the Independe
Page 142 and 143: Annex 1 The following table has bee
Page 144 and 145: Company Registered office Share cap
Page 148 and 149: Company Registered office Share cap
Page 150: Representation form pursuant to art
Page 154 and 155: Financial statements Balance sheet
Page 156 and 157: Statement of comprehensive income (
Page 158 and 159: Cash flow statement 2010 2009 (euro
Page 160 and 161: Transactions with related parties o
Page 164 and 165: Summary of resolutions The Annual G
Page 166 and 167: Extraordinary session: 1) to amend
Page 168 and 169: Report on Corporate Governance and
Page 170 and 171: c) Significant shareholders as disc
Page 172 and 173: In the event of presentation of mor
Page 174 and 175: By resolution of June 20 th , 2007,
Page 176 and 177: d) Analysis of controls at process
Page 178 and 179: 8) the various company functions, w
Page 180 and 181: knowledge of the company and its dy
Page 182 and 183: Emilio Zanetti * Unione di Banche I
Page 184 and 185: at their request, the Chief Executi
Page 186 and 187: The lists must be presented at the
Page 188 and 189: - for the simultaneous replacement
Page 190 and 191: Within the Board of Directors, the
Page 192 and 193: their level of agreement has been m
Page 194 and 195: The Board of Directors, with the as
Page 196 and 197:
TABLE 2 BOARD OF STATUTORY AUDITORS
Page 198 and 199:
Code of ethics The Code, approved f
Page 200 and 201:
only if the unrelated shareholders
Page 202 and 203:
EQUITY INVESTMENTS OF DIRECTORS, ST
Page 204 and 205:
parent company, on a regular basis,
Page 206 and 207:
Stock option plan for directors - 2
Page 208 and 209:
Based on the opinion of the Committ
Page 210 and 211:
g) Share capital increase; disposal
Page 212 and 213:
Italcementi S.p.A. will have a pre-
Page 214 and 215:
iii) approving for each assignee th
Page 216 and 217:
216
Page 218 and 219:
Annex 1 Highlights from the most re
Page 220 and 221:
(in thousands of euro) Full name Po
Page 222 and 223:
STOCK OPTIONS GRANTED TO DIRECTORS
Page 224 and 225:
CIMENTS FRANÇAIS S.A. Options held
Page 226 and 227:
Corporate bodies resulting from the
Page 228:
italcementi S.p.A. Via G. Camozzi,
show all

Report 2010 - Italcementi Group

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?