Report 2010 - Italcementi Group

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2. Exchange rates used to translate the financial statements of foreign entities Exchange rates for 1 euro: Average rate Closing rate Currencies Full year 2010 Full year 2009 December 31, 2010 December 31, 2009 Albania lek 137.74003 132.06922 138.86000 138.03300 Saudi Arabia riyal 4.97226 5.22798 5.01060 5.40329 Canada dollar 1.36508 1.58530 1.33220 1.51280 Egypt pound 7.47113 7.74032 7.75751 7.90576 GB sterling 0.85805 0.89140 0.86075 0.88810 India rupee 60.58486 67.34896 59.75800 67.04000 Kazakhstan tenge 195.38110 205.96651 196.96400 213.77500 Kuwait dinar 0.38019 0.40163 0.37594 0.41315 Libya dinar 1.67844 1.74613 1.67606 - Morocco dirham 11.15625 11.25223 11.17980 11.33490 Mauritania ouguiya 365.68685 364.95711 377.75700 377.42300 Mexico peso 16.73637 18.78758 16.54750 18.92230 Moldavia leu 16.38605 15.50707 16.24000 17.72180 Qatar riyal 4.82647 5.07816 4.86375 5.24609 People's Republic of China renminbi 8.97294 9.52237 8.82200 9.83500 Sri Lanka rupee 149.85278 160.25073 148.24700 164.74000 USA dollar 1.32588 1.39400 1.33620 1.44060 Switzerland franc 1.38063 1.51013 1.25040 1.48360 Thailand baht 42.02675 47.79504 40.17000 47.98600 Turkey lira 1.98756 2.15138 2.04910 2.16030 The exchange rates used to translate the financial statements of the foreign entities are those published by the Bank of Italy and by the Turkish central bank. 88
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 3. Changes in the scope of consolidation The main changes in 2010 were: - line-by-line consolidation as from January 1 of Beton Ata LLP (Kazakhstan) in the ready mixed concrete sector; exit from the Group of Cementos Capa S.L. (Spain) following the sale of the company in January; - line-by-line consolidation as from August of the Star. Co. S.r.l. company (Italy) in the ready mixed concrete sector; - valuation with the equity method of the Gardawind S.r.l. group (Italy) as from September 30. Gardawind is active in wind energy and is part of the Italgen group. The main changes in 2009 were: - line-by-line consolidation as from April 1 of Beton Masoni Sas (France) in the ready mixed concrete sector; - line-by-line consolidation as from May 1 of Gulf Ready Mix Concrete Co. (Kuwait) in the ready mixed concrete sector. The equity investments in subsidiaries, joint ventures and associates, and the respective method of consolidation, are listed in the annex. 89 www.italcementigroup.com
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2010 Annual Report
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2010 Annual Report Italcementi S.p.
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In the past three financial years w
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2010 Annual Report Presentation Gen
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Directors’ report Following the a
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Significant events for the year Sig
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Business and financial performance
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Fourth-quarter sales volumes and in
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Revenues and operating results Cont
Page 38 and 39: Total comprehensive income In 2010,
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Page 42 and 43: 2010 to the Internal Control Commit
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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
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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 90 and 91: 4. Operating segment disclosure The
Page 92 and 93: Operating segments The table below
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Page 96 and 97: Assets 5 Property, plant and equipm
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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
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Page 124 and 125: 22.6 Exposure to exchange-rate risk
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Page 128 and 129: At December 31, 2010, the average m
Page 130 and 131: 25. Goods and utilities expenses Go
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Page 134 and 135: The reconciliation between the theo
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36. Cash flow statement 36.1. Cash
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38. Considerations to the Independe
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Annex 1 The following table has bee
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Company Registered office Share cap
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Representation form pursuant to art
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Financial statements Balance sheet
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Statement of comprehensive income (
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Cash flow statement 2010 2009 (euro
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Transactions with related parties o
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Summary of resolutions The Annual G
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Extraordinary session: 1) to amend
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Report on Corporate Governance and
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c) Significant shareholders as disc
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In the event of presentation of mor
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By resolution of June 20 th , 2007,
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d) Analysis of controls at process
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8) the various company functions, w
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knowledge of the company and its dy
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Emilio Zanetti * Unione di Banche I
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at their request, the Chief Executi
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The lists must be presented at the
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- for the simultaneous replacement
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Within the Board of Directors, the
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their level of agreement has been m
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The Board of Directors, with the as
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TABLE 2 BOARD OF STATUTORY AUDITORS
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Code of ethics The Code, approved f
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only if the unrelated shareholders
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EQUITY INVESTMENTS OF DIRECTORS, ST
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parent company, on a regular basis,
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Stock option plan for directors - 2
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Based on the opinion of the Committ
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g) Share capital increase; disposal
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Italcementi S.p.A. will have a pre-
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iii) approving for each assignee th
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Annex 1 Highlights from the most re
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(in thousands of euro) Full name Po
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STOCK OPTIONS GRANTED TO DIRECTORS
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CIMENTS FRANÇAIS S.A. Options held
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Corporate bodies resulting from the
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italcementi S.p.A. Via G. Camozzi,
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Report 2010 - Italcementi Group

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