Report 2010 - Italcementi Group

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
Income statement
Notes 2010 % 2009 % Change %
(in thousands of euro)
amount
Revenues 4 4,790,944 100.0 5,006,379 100.0 (215,435) -4.3
Other revenues 33,697 34,385
Change in inventories 25,917 (91,199)
Internal work capitalized 58,745 58,685
Goods and utilities expenses 25 (2,019,558) (1,880,728)
Services expenses 26 (1,075,499) (1,096,234)
Employee expenses 27 (916,261) (914,589)
Other operating income (expense) 28 (61,723) (145,121)
Recurring EBITDA 4 836,262 17.5 971,578 19.4 (135,316) -13.9
Net capital gains on sale of fixed assets 29 9,864 26,102
Non-recurring expenses for re-organizations 29 (12,001) (33,987)
Other non-recurring income (expense) 29 153 (7,008)
EBITDA 4 834,278 17.4 956,685 19.1 (122,407) -12.8
Amortization and depreciation (472,543) (459,755)
Impairment 5-6 (7,982) (53,956)
EBIT 4 353,753 7.4 442,974 8.8 (89,221) -20.1
Finance income 30 66,685 33,652
Finance costs 30 (161,844) (131,712)
Net exchange-rate differences and derivatives 30 4,523 (8,811)
Impairment on financial assets 9 (21,014) (41,129)
Share of results of associates 8 17,052 14,568
Profit before tax 259,155 5.4 309,542 6.2 (50,387) -16.3
Income tax expense 31 (62,087) (94,225)
Net profit for the year 197,068 4.1 215,317 4.3 (18,249) -8.5
Attributable to:
Equity holders of the parent 45,780 1.0 71,288 1.4 (25,508) -35.8
Non-controlling interests 151,288 3.2 144,029 2.9 7,259 5.0
Earnings per share (EPS) 33
- Basic
savings shares € 0.183
€ 0.274
ordinary shares € 0.153
€ 0.244
- Diluted
savings shares € 0.183
€ 0.274
ordinary shares € 0.153
€ 0.244
69
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