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
37.2 Equity investments net of cash acquisitions
The table below itemizes the main equity investments included in the corresponding item on the statement of
cash flows:
(in millions of euro) 2012 2011
Company
Commerciale Inerti - Italy - 2.3
Others 0.5 0.3
Total 0.5 2.6
Equity investments are shown net of the cash of the acquired companies and the change in payables for equity
investment purchases.
37.3 Proceeds from the sale of non-current assets
The main proceeds of 2012 were those realized on the full sale of Goltas shares for 45.7 million euro and the
sale of Silos Granari della Sicilia for 8.0 million euro.
37.4 Change in working capital
The change in working capital is illustrated in the table below:
2012 2011
(in thousands of euro)
Change in inventories 15,945 (18,350)
Change in trade receivables 101,810 (30,739)
Change in trade payables 1,185 29,503
Change in other assets/liabilities (6,990) 4,678
Total 111,950 (14,908)
38 Non-recurring transactions
The following tables itemize the most significant non-recurring transactions and their impact on the Group’s
equity, financial position and results of operations:
2012
Equity Profit for the period Net debt
(in thousands of euro)
amount % amount % amount %
Carrying amounts 4,239,847 100% (362,400) 100% 1,998,256 100%
Net gains from the sale of non-current assets 38,548 0.9% 38,548 10.6% 49,669 2.5%
Non-recurring expense for re-organizations (56,112) 1.3% (56,112) 15.5% - 0.0%
Other non-recurring income (expense) 23 0.0% 23 0.0% - 0.0%
Discontinued operations 7,992 0.2% 7,992 2.2% 44,236 2.2%
Total non-recurring transactions (9,549) 0.2% (9,549) 2.6% 93,905 4.7%
Figurative amount without non-recurring transactions 4,249,396 (352,851) 2,092,161
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