2012 Annual Report - Italcementi Group

36. Joint ventures
The Group’s most significant joint ventures in 2012 were French construction materials companies, the
Medcem S.r.l. shipping company and the Saudi Arabian company International City for Ready Mix, active in the
ready mixed concrete industry.
The following table sets out the portion of assets and liabilities and revenues and expense reflected in the
Group consolidated financial statements:
(in millions of euro)
December 31,
2012
December 31,
2011
Current assets 35.2 30.7
Non-current assets 94.8 92.0
Total assets 130.0 122.7
Current liabilities 25.6 23.3
Non-current liabilities 14.9 14.4
Total liabilities 40.5 37.7
2012 2011
Revenue 43.2 43.4
Expense (42.0) (44.6)
Profit (loss) before tax 1.2 (1.2)
37. Statement of cash flows
37.1 Cash and cash equivalents
Cash and cash equivalents include:
(in thousands of euro)
December 31,
2012
December 31,
2011
Bank/postal demand accounts and cash on hand 120,488 103,683
of which held by: Italcementi S.p.A. 1,424 479
Ciments Français S.A. 614 3,008
Other Group companies 118,450 100,196
Mutual funds 217,842 251,962
of which held by: Italcementi Finance S.A. 7,886 19,566
Ciments Français S.A. 145,517 151,990
Other Group companies 64,439 80,406
Short-term deposits 240,058 257,689
of which held by: Other Group companies 240,058 257,689
Total 578,388 613,334
Short-term deposits have varying maturities within three months, in relation to the Group’s cash requirements;
interest accrues at the respective short-term rates.
As a result of laws in force in Egypt, Morocco, Thailand and India, the cash and cash equivalents of the Group
companies in those countries are not immediately available to the holding Ciments Français S.A.; at December
31, 2012 they amounted to 336.5 million euro (368.1 million euro at December 31, 2011).
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