2012 Annual Report - Italcementi Group

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Power consumption, concrete 2012 2011 2010 2009 Mature markets 4.8 5.3 5.7 5.1 Emerging markets kWh/t aggregate 3.1 1.8 2.0 2.2 Group 4.6 4.9 4.4 4.2 Mature markets 47 62 36 34 Emerging markets million kWh 4 3 7 6 Group 51 64 43 41 4.2 Environmental management The Group is committed to prevent, or otherwise minimize, mitigate and remediate the environmental impacts of its activities. The Environment Policy reinforces the Group approach in preserving the environment and the society. By adhering to the UNGC, the Group is committed to: support a precautionary approach to environmental challenges; undertake initiatives to promote greater environmental responsibility; and encourage the development and diffusion of environmentally friendly technologies. The Group strongly recommends the adoption of environmental management systems as an effective tool to prevent risk and to prompt continuous improvement. At the end of 2012, 52 cement sites out of 58, i.e. 90% (89% in 2011), located in all the 11 countries of operation, received the certification according to ISO 14001. In addition, 64 aggregates sites out of 160 (40%) and 16 out of 422 ready-mixed plants (4%) have ISO 14001 certificates. Beyond this, 2 natural hydraulic lime plant and all 14 hydro-power plants, also EMAS registered, are certified. The internationally recognized ISO 14001 management system addresses water, energy, air emissions, noise, high health concern materials, and waste and quarry management, through dedicated site procedures. Most of the issues are managed integrating Group’s directives with site specific needs. Noise impact is mostly managed locally, site by site, through dedicated mapping and identification of technically viable solutions; for new machines installation, specific requirements are set in the technical annex of the supply contract. The managing structure starts from Group Sustainable Development Department, reaching the operations through dedicated functions at subsidiary and major sites level. The Group has implemented a three years programme for the environmental reviews of its production sites, which generate corrective action plans involving Group and local functions. In the last three years, 64% of the cement plants have been audited, covering 7 subsidiaries out of 11. The totality of plants and subsidiaries was covered over the last four years. Capital expenditure for environmental improvement, also including safety, was 34.2 million euro in 2012. Dedicated environmental trainings are performed at site level, with employees and managers. An awareness campaign is under development for headquarters. Environmental best practices, based on the Italian experience, have been shared throughout the Group in order to promote better waste management. Within the framework of the Enterprise Risk Management and building on the Italian experience, the Group developed guidelines for assessing dismissed or dismissing sites. They apply to all the businesses, covering safety and security risks, environmental risks, and social and external context risks. 332
The Group Subsidiary Interbulk Trading, a major cement trading company, offers first class commercial, logistics and shipping services for trading of clinker, ordinary and special cements, mineral products and solid fuels worldwide. The management of the Group fleet and cargos is based on an insurance coverage, following the best practices in the field. The Shipping and Maritime Logistics Department of Interbulk is responsible for organizing safe and reliable maritime transportation anywhere in the world. The aim is to provide a shipping service matching the Group needs and high performance standards, at the best competitive market prices. The Group is increasing the number of vessels with no more than 20 years old (81% in 2012 versus 74% in 2011). In 2012, chartered vessels were 339 (370 in 2011). In 2012, Interbulk totally moved around 5.7 million tonnes by sea trade. Detailed information under: http://www.interbulk.ch/ENG/Our+Company. % transport Cement Aggregates Concrete 2012 2011 2010 2012 2011 2010 2012 2011 2010 road 90 92 92 91 93 94 100 100 100 railways 7 5 5 0 0 0 0 0 0 waterways 3 3 3 9 7 6 0 0 0 (*) No major difference between mature and emerging markets Waste management, cement (*) Mature markets Emerging markets Group 2012 2011 2010 kt of total waste produced 23.7 30.9 23.5 kt of hazardous waste 1.7 2.0 1.6 kt of total waste produced 94.3 63.5 67.5 kt of hazardous waste 10.1 0.3 7.0 kt of total waste produced 118.0 94.4 91.0 kt of hazardous waste 11.9 2.3 8.6 (*) waste production mainly derives from maintenance activities, which can vary during years Fines and penalties (*) for environmental non-compliance (k€) Cement Aggregates Concrete 2012 2011 2012 2011 2012 2011 Mature markets 565.0 80.9 48.6 254.0 66.0 94.0 Emerging markets 284.0 34.0 - - - - Group 849.0 114.9 48.6 254.0 66.0 94.0 (*) including allegations yet to be appealed 333 www.italcementigroup.com
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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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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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The useful life adopted by the Grou
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Assumptions used for the computatio
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7. Intangible assets in thousands o
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10. Other non-current assets This c
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15. Reserves Translation reserve Th
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Net liabilities determined on the b
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The table below sets out key data f
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appeal and by the regional court of
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22.1 Financial liabilities Financia
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Bond loans f) The Italcementi Group
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The bond was assigned a Ba2 Moody
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At December 31, 2012 lines of credi
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22.3.1 Fair value of derivatives Th
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22.4 Interest-rate risk management
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The Group companies operate chiefly
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From 2008 to 2012, the Group transa
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26. Services Services amounted to 1
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29. Non-recurring income (expense)
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The income statement and the statem
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Diluted earnings per share Diluted
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36. Joint ventures The Group’s mo
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Net debt (in thousands of euro) amo
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Annex 1 The following table shows i
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Company Registered office Share cap
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Company Registered office Share cap
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Italcementi S.p.A. Annual Report 14
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Separated financial statements 241
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Page 283 and 284: 2012 Annual Report Presentation 4 G
Page 305 and 306: Annexes 303 www.italcementigroup.co
Page 308 and 309: ITALCEMENTI S.P.A. REPORT OF THE BO
Page 310 and 311: We ascertained that the Remuneratio
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Page 316 and 317: Sustainability disclosure Italcemen
Page 318 and 319: In 2010, the Group reinforced its a
Page 320 and 321: 2 Looking forward 2.1 Targets 2015
Page 322 and 323: 3 Social responsibility 3.1 Valuing
Page 324 and 325: 2012 2011 2010 2012 2011 2010 Italy
Page 326 and 327: Trainees (%) 2012 2011 2010 Manager
Page 328 and 329: 3.3 Health and product responsibili
Page 330 and 331: The Social Initiatives Policy reinf
Page 332 and 333: In 2012, Energy Efficiency Certific
Page 336 and 337: 4.3 Air emissions At the end of 201
Page 338 and 339: Water consumption, cement 2012 2011
Page 340 and 341: Quarry management, cement (*) Matur
Page 342 and 343: 5.2 Quality The Group is committed
Page 344 and 345: 5.4 Sustainable construction Italce
Page 346 and 347: 6 Reporting and additional informat
Page 349 and 350: 6.4 Boundaries and reporting method
Page 351 and 352: Training management system Hours of
Page 353 and 354: Extraordinary session 351 www.italc
Page 357 and 358: Summary of resolutions The Annual G
Page 359 and 360: at an extraordinary session: to ren
Page 362: April 2013 Project by LSVmultimedia
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2012 Annual Report - Italcementi Group

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