Report 2010 - Italcementi Group

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Alberto Bombassei Born in Vicenza, October 5, 1940 Chairman and Chief Executive Officer of Brembo S.p.A., a worldwide market leader in braking systems and acknowledged innovator in disk brake technology. 2003, awarded an honorary degree in mechanical engineering by the University of Bergamo 2004, named a Cavaliere del Lavoro in Italy’s honors system. From June 2001 to May 2004, President of Federmeccanica. Since May 2004 Vice President of Confindustria for Industrial Relations and Social Affairs. Director of Atlantia S.p.A., Pirelli & C. S.p.A., Ciccolella S.p.A., Nuovo Trasporto Viaggiatori S.p.A. and Fiat Industrial S.p.A. Giorgio Bonomi Born in Bergamo, November 2, 1955 Degree in law - Milan State University Practises law in Bergamo. Account auditor. As a specialist in distribution contracts, he has been involved in the creation of some of Italy’s most important purchasing consortia. Assists some of the leading Italian groups on advertising and mass merchandising, with a particular focus on growth and corporate disputes (M&A). Antonio Carosi Born in Rome, July 27, 1942 Degree in mechanical engineering - La Sapienza University, Rome. Specialization in Mechanical Plant IBM scholarship for a blast furnace computerization project at the Italsider steel plant in Bagnoli. Master in Business Administration (MBA), Columbia University New York. Dean’s List. Fulbright scholarship, EXXON scholarship. Specialization in international finance. Began his career at the head office of Esso Italiana in the heating division. Transferred to the Milan branch, from 1967 to 1970 was supervisor of the heating products sales network for northern Italy. Subsequently worked at the head office of Banca Commerciale Italiana, in the secretariat of the CEO and the securities and stock exchange director. From 1972 to 1973, was based at the New York branch, working with some of the bank’s affiliates. From 1974 to 1977 worked as an independent consultant in New York for Italian and international companies in the field of corporate finance. From 1977 to 1999 worked in the international investment banking department at Lehman Brothers in New York. Since 1999 has worked as an independent consultant in New York for Italian and international companies in the field of corporate finance. From 2000 - 2005 was advisor for Italy at Smith Barney. 8
2010 Annual Report Presentation General information Italcementi S.p.A. Directors, Officers and Auditors 6 Consolidated Annual Report Professional profiles of the members of the Board Corporate Governance of Directors and Board of Statutory Auditors 7 Notice of Call 14 Italcementi Group in the world 18 Highlights 20 Italcementi S.p.A. on the Stock Exchange 21 Alberto Clô Born in Bologna, January 26, 1947 Degree in political science - Bologna University Full professor of Industrial Economics and Public Services Economics at Bologna University Author of numerous books, essays and articles on industrial economics and energy, founder and since 1984 editor of the “Energia” review. Minister of Industry and Foreign Trade in the Dini Government (1995-96). Federico Falck Born in Milan, August 12, 1949 - Married with two children Degree in mechanical engineering - Milan Polytechnic. Began his career in 1977 at the Acciaierie e Ferriere Lombarde Falck S.p.A. (now “Falck S.p.A.”); after internships in a number of US steel companies, he worked mainly in production and procurements for steel operations; Procurements Manager and Chief Operating Officer for many years. Currently Chairman of the Board of Directors of Falck S.p.A. and Falck Renewables S.p.A., a Falck Group company listed on the Milan Stock Exchange (STAR segment); Director of Banca Popolare di Sondrio, Italcementi S.p.A.; Deputy Chairman Ucid, Director Milan Section Ucid, member of the management committee of Assolombarda, Director Fondazione Sodalitas (association for development of social enterprise), Director of Fondazione Centesimus Annus. He was Chairman of ADR, Aeroporti di Roma - Director of Camfin, Credito Italiano, Banco Lariano, Cassa di Risparmio di Parma e Piacenza S.p.A., Viscontea Assicurazioni, Emittente Titoli and Chairman of Sodalitas. Pietro Ferrero Born in Turin, September 11, 1963 Degree in biology - Turin University 1985, joined the Ferrero Group at the Allendorf plant and then moved to the Alba facility to work on technical and production questions. 1992, appointed Operations Manager in the European Division of the Ferrero Group. Currently Chairman of Ferrero S.p.A., the Group’s Italian company with a sole shareholder, and Chief Executive Officer of Ferrero International S.A., the Group top holding in Luxembourg. Danilo Gambirasi Born in Bergamo, January 22, 1932 Science high-school degree. Italcementi S.p.A., first as Deputy Corporate Procurements Manager, later as International Relations & Fuel Procurement Manager until his retirement in 1997. www.italcementigroup.com 9
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: 2010 Annual Report Presentation Gen
Page 11 and 12: 2010 Annual Report Presentation Gen
Page 25: 2010 Annual Report Presentation Gen
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
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Information systems The three-year
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Raw materials and alternative fuels
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Engineering, technical assistance,
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serves public companies and institu
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Set Group Holding represents a sign
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Financial statements Balance sheet
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Statement of comprehensive income (
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Consolidated cash flow statement No
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21. Deferred tax 22. Net debt 23. O
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no longer generate goodwill, nor ga
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Subsidiaries Subsidiaries are compa
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1.5. Translation of foreign currenc
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1.10. Intangible assets Intangible
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deferred tax assets are reviewed at
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Pending publication of a standard/i
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2. Exchange rates used to translate
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4. Operating segment disclosure The
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Operating segments The table below
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The table below sets out other segm
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Assets 5 Property, plant and equipm
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6.2 Goodwill testing Goodwill acqui
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“Concessions” are amortized ove
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9. Other equity investments This no
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12. Trade receivables (in thousands
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17. Dividends paid Dividends declar
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The movements in defined benefit li
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20. Provisions Non-current and curr
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22.1 Loans and borrowings Loans and
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) in the third quarter of 2010, Ita
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v) in the third quarter of 2010, Ci
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Fair value - hierarchy In determini
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In 2009 and 2010, in view of the su
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22.4 Interest-rate risk Notional va
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22.6 Exposure to exchange-rate risk
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22.8 Hedge Accounting The effects a
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At December 31, 2010, the average m
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25. Goods and utilities expenses Go
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The following table sets out the de
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The reconciliation between the theo
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34. Transactions with related parti
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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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216
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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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