2012 Annual Report - Italcementi Group

2012 Annual Report
Presentation 4
General information 14
Annual Report Consolidated Annual Report Directors’ report 146
Sustainability disclosure Italcementi S.p.A. Annual Report Separate financial statements 241
Extraordinary session 351
8. Trade receivables
(in thousands of euro) 12.31.2011 Change
Merger
contribution/elimin
ations 12.31.2012
From customers 207,163 ( 29,191) 241 178,213
From Group companies 82,894 ( 25,324) ( 355) 57,215
Allowance for impairment ( 13,058) ( 1,416) ( 156) ( 14,630)
Net amount 276,999 ( 55,931) ( 270) 220,798
The decrease in receivables due from customers is related to the trend in sales during 2012.
For an analysis of “Receivables due from Group companies”, reference should be made to the section on
transactions with related parties.
The net change in the allowance for impairment was the result of the difference between the year’s allowance
of 7,260 thousand euro and applications of 5,844 thousand euro.
9. Other current assets
(in thousands of euro) 12.31.2011 Change
Merger
contribution 12.31.2012
Amounts due from social security authorities 1,253 ( 270) 25 1,008
Amounts due from tax authorities for VAT 866 1,517 142 2,525
Receivables for grants related to assets 116 - - 116
Receivables for expropriations 586 ( 586) - -
Other receivables 32,814 13,354 88 46,256
Derivatives 1,537 ( 1,509) - 28
Commodity derivatives 31,412 ( 9,481) - 21,931
Prepayments and accrued income 5,986 318 - 6,304
Total 74,570 3,343 255 78,168
Receivables for expropriations were reclassified under other non-current assets.
Other receivables include the amounts recognized, net of sales and of impairment, for the allocation of white
certificates (1,194 thousand euro) and the current amount of the receivable accrued at December 31, 2012 for
“new entry” CO 2 quotas recognized for the period 2008-2012 (25,984 thousand euro).
Prepayments and accrued income include an amount of 5,072 thousand euro (4,618 thousand euro at
December 31, 2011) relating to fees paid for the opening of lines of credit, recognized in the income statement
under finance costs in relation to the duration of the lines of credit granted.
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