2012 Annual Report - Italcementi Group

29. Other operating income (expense)
Other operating income, net of expense, amounted to 9,538 thousand euro, as follows:
(in thousands of euro) 2012 2011 Change % change
Other taxes 8,321 4,415 3,906 88.5
Allowance for doubtful receivables 7,290 7,726 ( 436) -5.6
Provision for environmental restoration, quarries, other 1,411 978 433 44.3
Miscellaneous expense 6,409 5,581 828 14.8
Miscellaneous income ( 32,969) ( 62,641) 29,672 -47.4
Total ( 9,538) ( 43,941) 34,403 -78.3
“Miscellaneous income” included net income on the sale of CO 2 emission rights for 14,390 thousand euro,
discounted income from the reimbursement of “new entry” CO 2 quotas recognized for 2008-2012 for 3,732
thousand euro, income from the allocation of white certificates for 9,312 thousand euro and amounts for the
use of alternative fuels for 3,509 thousand euro.
30. Non-recurring income (expense)
Non-recurring expense, net of non-recurring income, amounted to 26,383 thousand euro (net non-recurring
income of 8,239 thousand euro in 2011) and arose from net gains from the sale of assets for 18,469 thousand
euro, of which 13,226 thousand euro from the sale of the Pontassieve business unit, net expense for
reorganizations for 44,852 thousand euro, of which 36,264 thousand euro in relation to the “Project 2015”
program.
31. Finance income (costs), net exchange-rate differences and derivatives
Finance income, net of finance costs, amounted to 80,134 thousand euro, as follows:
2012 2011
(in thousands of euro) Income Costs Income Costs
Interest income 6,109 8,026
Interest expense (37,091) (39,415)
Subtotal 6,109 (37,091) 8,026 (39,415)
Net interest in respect of net debt - (30,982) - (31,389)
Dividends and other income from equity investments 117,611 151,256
Other finance income 32,792 43,206
Other finance costs (40,826) (52,177)
Total finance income (costs) 156,512 (77,917) 202,488 (91,592)
Gains/(losses) on interest-rate derivatives 199 125
Gains/(losses) on exchange-rate derivatives (320) 135
Net exchange-rate differences 1,660 (1,337)
Net exchange-rate differences and derivatives 1,539 (1,077)
Total finance income (costs), net exchange-rate differences and derivatives 80,134 109,819
Net interest in respect of net debt totaled 30,982 thousand euro in 2012 compared to 31,389 thousand euro in
2011, a decrease of 407 thousand euro.
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