2012 Annual Report - Italcementi Group

2012 Annual Report
Presentation 4
General information 14
Annual Report Consolidated Annual Report Directors’ report 30
Sustainability disclosure Italcementi S.p.A. Annual Report Consolidated financial statements 63
Extraordinary session 351
After this transaction, the statement of financial position continued to reflect:
- subordinate additional deposits for 23.9 million euro (24.8 million euro at December 31, 2011) under other
current assets;
- the portion of receivables, in the form of arranged guarantees for 10.1 million euro under trade receivables,
with balancing entries of 8.2 million euro in bank loans and borrowings and 2.0 million euro against
miscellaneous receivables.
In December 2012, some French and Belgian Group companies arranged an international factoring program
for five years; initially the program envisages an amount of 70 million euro to be raised to 160 million euro by
the end of March 2013.
At December 31, 2012 factored receivables amounted to 69.5 million euro and, in compliance with IAS 39,
contractually 100% of risk was transferred.
Receivables factored as guarantees and still reflected on the face of the statement of financial position at
December 31, 2012 totaled 16.1 million euro.
At December 31, 2012 Calcestruzzi S.p.A. had factored receivables for 1.9 million euro (4.9 million euro at
December 31, 2011).
13. Other current assets including derivatives
This caption reflects:
(in thousands of euro)
December 31,
2012
December 31,
2011
Receivables from tax and social security authorities 86,546 93,444
Receivables from the sale of non-current assets 1,098 3,014
Concessions and licenses paid in advance 41,591 34,895
Derivatives 29,665 28,636
Other 159,049 135,282
Total 317,949 295,271
Derivatives are discussed in note 22.3.1 Derivatives.
14. Share capital and Share premium
14.1 Share capital
At December 31, 2012 the parent’s fully paid-up share capital amounted to 282,548,942 euro represented by
282,548,942 shares with a par value of 1 euro each, as follows:
Number of shares December 31,
2012
December 31,
2011
Change
Ordinary shares 177,117,564 177,117,564 -
Savi ngs shares 105,431,378 105,431,378 -
To tal 282,548,942 282,548,942 -
14.2 Share premium
Share premium amounted to 344,104 thousand euro, unchanged from December 31, 2011.
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