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
Non-current financial liabilities by currency:
(in millions of euro)
December 31,
2012
December 31,
2011
Euro 1,923.6 1,957.6
U.S. and Canadian dollar 16.0 25.8
Moroccan dirham - 29.7
Indian rupee 70.4 77.7
Egyptian pound 1.0 1.6
Others 5.9 6.9
Total 2,016.9 2,099.3
Non-current financial liabilities by maturity, including fair value adjustments:
(in millions of euro)
December 31,
2012
December 31,
2011
2013 409.1
2014 502.8 271.9
2015 29.1 32.8
2016 55.9 3.7
2017 528.5 521.5
Beyond 900.6 860.3
Total 2,016.9 2,099.3
The main medium/long-term loans and borrowings in 2012 and 2011 are described below.
Bank loans and drawings on lines of credit:
a) In May 2012, Italcementi S.p.A. arranged a 200 million euro floating-rate 5-year renewable line of credit to
replace a facility expiring in December 2012. In line with the policy introduced, Italcementi Finance S.A. is
part of the contract as alternative beneficiary of the facility, in which case Italcementi S.p.A. acts as
guarantor. No drawings had been made on the line at December 31, 2012;
b) During 2012 in September and November respectively, Italcementi S.p.A. expired a three-year 50 million
loan and a fully drawn five-year 75 million committed line of credit expired and were repaid on expiry,
without renewal;
c) On September 28, 2012, Italcementi Finance S.A. arranged a new medium-term line of credit (3 years and
6 months) for 100 million euro refinancing two lines of credit due to mature, with the same bank. No
drawings had been made on the new facility at December 31, 2012;
d) During 2012, Italcementi Finance S.A. renewed committed bilateral lines of credit at 364 days with leading
international banks for a total amount of 150 million euro. Drawings at December 31, 2012 totaled 125
million euro;
e) On April 29, 2011, Italcementi Finance S.A. arranged a 50 million euro floating-rate five-year bilateral line of
credit, guaranteed by Italcementi S.p.A.. The facility had been fully drawn at December 31, 2012;
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