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2012 Annual Report
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Contents PRESENTATION Letter to the
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Letter to the stakeholders Consolid
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Italcementi Group in the world (as
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Highlights Contribution to consolid
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Share prices and market capitalizat
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E) Share prices and market capitali
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Italcementi S.p.A. Directors, Offic
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Lorenzo Renato Guerini (Director si
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Alberto Clô (Director since May 4,
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Yves René Nanot (Director since Ju
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Board of Statutory Auditors Maria M
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Notice of Call Those who are entitl
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Appointment of the Board of Directo
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Annual Report Consolidated Annual R
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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Financial statements Statement of f
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Statement of comprehensive income N
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Statement of cash flows Notes 2012
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21. Deferred tax assets and Deferre
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Amendments to IAS 12 “Income taxe
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1.3. Basis of consolidation The con
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Changes in equity interests in subs
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Operating lease payments are recogn
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1.15. Cash and cash equivalents Cas
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1.18. Share-based payments The Grou
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1.24. Government grants Government
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4. Operating segment disclosure The
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The table below sets out segment re
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The table below sets out other segm
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- Page 98 and 99: 7. Intangible assets in thousands o
- Page 100 and 101: 10. Other non-current assets This c
- Page 102 and 103: 15. Reserves Translation reserve Th
- Page 104 and 105: Net liabilities determined on the b
- Page 106 and 107: The table below sets out key data f
- Page 108 and 109: appeal and by the regional court of
- Page 110 and 111: 22.1 Financial liabilities Financia
- Page 112 and 113: Bond loans f) The Italcementi Group
- Page 114 and 115: The bond was assigned a Ba2 Moody
- Page 116 and 117: At December 31, 2012 lines of credi
- Page 118 and 119: 22.3.1 Fair value of derivatives Th
- Page 120 and 121: 22.4 Interest-rate risk management
- Page 122 and 123: The Group companies operate chiefly
- Page 124 and 125: From 2008 to 2012, the Group transa
- Page 126 and 127: 26. Services Services amounted to 1
- Page 128 and 129: 29. Non-recurring income (expense)
- Page 130 and 131: The income statement and the statem
- Page 132 and 133: Diluted earnings per share Diluted
- Page 134 and 135: 36. Joint ventures The Group’s mo
- Page 136 and 137: Net debt (in thousands of euro) amo
- Page 138 and 139: Annex 1 The following table shows i
- Page 140 and 141: Company Registered office Share cap
- Page 142 and 143: Company Registered office Share cap
- Page 148 and 149: Directors’ report Any changes in
- Page 150 and 151: short-term was negatively influence
- Page 152 and 153: With respect to Italcementi S.p.A.
- Page 154 and 155: all, 76.5 million euro from the eli
- Page 156 and 157: documents were prepared and sent fo
- Page 158 and 159: The Group checks that its protectio
- Page 160 and 161: Disputes and pending proceedings Wi
- Page 162 and 163: Report on Corporate Governance and
- Page 164 and 165: the company, savings shares have pr
- Page 166 and 167: Financial equity instruments The Co
- Page 168 and 169: The analysis, prepared upon instruc
- Page 170 and 171: 2) assessing, at least annually, th
- Page 172 and 173: ) supports the Company and the Grou
- Page 174 and 175: 9) Various company Functions, which
- Page 176 and 177: Composition The By-laws provide tha
- Page 178 and 179: If as a result of the voting based
- Page 180 and 181: • to the Executive Deputy Chairma
- Page 182 and 183: The Board of Directors shared the a
- Page 184 and 185: Italo Lucchini * Italmobiliare S.p.
- Page 186 and 187: However, with respect to the defini
- Page 188 and 189: managers also on the basis, with re
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- Page 192 and 193: The Company may designate a person,
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192
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194
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GROUP CODE OF ETHICS The Company ad
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Moreover, the ‘Code of Conduct’
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The “Regulation” has been appro
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egular basis, with the business, fi
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to withdraw an amount of 16,719,024
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Department of Human Resources and O
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The Company now, while confirming t
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The plan functioning is aligned, af
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a) the weight of the yearly fixed c
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- defines, annually, proposals for
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n) Remuneration policy possibly app
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o) Whether the remuneration policy
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iv) assessing the degree of achieve
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With reference to this stock option
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In case of a) termination of the em
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of persons who have ceased their as
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Name, surname Position Period durin
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Stock-options Granted to Members of
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Monetary Incentive Plans in Favor o
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Authorization to purchase and dispo
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* * * Dear Shareholders, If you agr
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Appointment of the Board of Directo
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240
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Financial statements Statement of f
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Statement of comprehensive income (
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Statement of cash flows 2012 2011 (
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Notes The separate financial statem
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The main effect arising from applic
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Since January 1, 2010, business com
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1.11. Intangible assets Intangible
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1.18. Employee benefits The company
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1.23. Derivatives The company uses
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Assets Non-current assets 2. Proper
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Recoverable amount coincides with v
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Repayments refer to the partial ret
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The breakdown of other equity inves
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10. Tax assets and liabilities Tax
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16. Analysis of equity captions The
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18. Provisions (in thousands of eur
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The table below details the tempora
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Main non-current and current liabil
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20.2. Management of liquidity, cred
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20.3. Financial assets and liabilit
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At December 31, 2012, financial ins
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20.5.2. Currency risk hedges Curren
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21. Trade payables (in thousands of
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27. Services Services totaled 153,5
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29. Other operating income (expense
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Breakdown of receivables and payabl
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Commitments with related parties CO
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(Breakdown of revenue and costs wit
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(Breakdown of revenue and costs wit
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Compensation to directors and the c
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302
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Annex 1 Highlights from the most re
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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Sustainability disclosure 313 www.i
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1 Group vision 1.1 Vision and manag
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1.2 Integrity The Code of Ethics, d
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Diversity Diversity is a source of
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The Group consider diversity manage
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Breakdown of personnel by seniority
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Recordable Injury Rate (TRIR) addin
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Official applications for occupatio
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4 Environmental protection 4.1 Clim
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Thermal consumption, cement 2012 20
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The Group Subsidiary Interbulk Trad
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Air emissions: yearly emissions Mat
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The annual celebration of the World
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5 Responsible production 5.1 Supply
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the reference market). In the last
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Reporting and additional informatio
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UNGC Principles Environment Princip
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SDD011 ISO 14001 Reporting Instruct
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Chemicals and units CO 2 Carbon dio
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Directors’ Report Proposal to ren
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options or with a warrant under the
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taking into account the various pos
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Corporate bodies after the appointm
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italcementi S.p.A. Via G. Camozzi,