2012 Annual Report - Italcementi Group

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4. Operating segment disclosure The table below shows the Group operating segments after the sale of Afyon (Turkey) and Fuping (China): Italy France-Belgium Spain Others Central Western Europe (C.W.E.) - Greece North America Egypt Morocco Others Emerging Europe, North Africa and Middle East (EE.NA.ME.) - Bulgaria, Kuwait and Saudi Arabia Thailand India Others Asia - Kazakhstan Cement and clinker trading Other operations Cement & clinker trading includes cement and clinker marketing activities in countries where Group terminals are located: Gambia, Mauritania, Sri Lanka and Albania, as well as direct exports to markets not covered by Group subsidiaries. The “Other operations” segment comprises the operations of the Ciments Français S.A. sub-holding, consisting essentially of provision of services to subsidiaries. It also includes liquid and solid fuel procurement operations for Group companies, the BravoSolution group in the e-business sector, Italcementi Finance S.A., other international holdings and other minor operations in Italy. The Group management and organizational structure essentially reflects the operating segment structure. Finance income and costs, impairment losses on financial assets and income taxes are not allocated to the operating segments. The Group business segments are: operations relating to the production and sale of cement/clinker, operations relating to construction materials: ready mixed concrete and aggregates, other operations such as: transport, engineering, e-business and energy. The operating segments and business segments are organized and managed by country. The operating segments consist of the non-current assets of the individual entities located and operating in the countries indicated above; sales refer mainly to the local market, exports are generally with other Group entities; exports to external countries are conducted through the Group companies of the international Trading segment. Consequently the revenue of the entities in each operating segment, net of revenue within the Group, arises essentially in the areas in which the non-current assets are located. The cement/clinker business delivers a portion of its production to the ready mixed concrete segment. The transfer prices applied to trading of goods and services among the segments are regulated on the basis of arm’s length transactions. Consolidated cement/clinker revenue is present in all the operating segments with the exception of “Other operations”, which consists largely of fuel sales and e-business revenue. Consolidated ready mixed concrete and aggregates revenue is present in almost all the operating segments with the exception of: Bulgaria and India. Revenue of other operations refers mainly to e-business revenue and energy revenue in the Italy segment and fuel sales. 86
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 With regard to dependence on the main Group customers, no single customer accounts for more than 10% of consolidated revenue. Operating segments The table below sets out segment revenue and results for 2012: Revenue Intragroup sales Contributive revenue Recurring EBITDA EBITDA EBIT Financial income (costs) Impairment on financial assets Share of profit (loss) of equity exch.rate accounted (in thousands of differences investees euro) and derivs Italy 799,951 (60,725) 739,226 (25,193) (40,838) (171,622) (195) France-Belgium 1,501,706 (7,942) 1,493,764 262,809 264,059 168,953 (317) Spain 111,301 (32,319) 78,982 (1,188) (4,328) (177,372) - Others C.W.E. 28,355 (7,891) 20,464 (4,029) (4,037) (43,541) (4,022) Eliminations (23,387) 23,387 - - - - - C.W.E. 2,417,926 (85,490) 2,332,436 232,399 214,856 (223,582) (4,534) N.America 439,544 (456) 439,088 44,539 51,339 (16,324) 10,452 Egypt 563,857 (46,956) 516,901 126,949 127,085 (24,196) 525 Morocco 325,362 (2,386) 322,976 137,392 137,773 100,627 5,125 EE.NA.ME 119,475 (8,708) 110,767 22,874 22,989 12,178 (2) Eliminations - - - - - - - EE.NA.ME. 1,008,694 (58,050) 950,644 287,215 287,847 88,609 5,648 Thailand 227,937 (653) 227,284 30,014 29,820 5,334 - India 248,565 - 248,565 51,843 51,229 32,332 - Others Asia 44,433 - 44,433 3,504 3,461 (2,894) - Eliminations - - - - - - - Asia 520,935 (653) 520,282 85,361 84,510 34,772 - Profit before tax Income tax expense Cement and clinker trading 212,957 (48,492) 164,465 8,901 8,743 5,599 (459) Other ops. 342,210 (269,034) 73,176 (25,533) (31,968) (39,627) 1 Unallocated items - - - - - (84,470) - - (224,224) (146,168) Eliminations (462,175) 462,175 - (467) (453) (309) - Total 4,480,091 - 4,480,091 632,415 614,874 (150,862) (84,470) - 11,108 (224,224) (146,168) 87 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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Page 66 and 67: Financial statements Statement of f
Page 68 and 69: Statement of comprehensive income N
Page 70 and 71: Statement of cash flows Notes 2012
Page 72 and 73: 21. Deferred tax assets and Deferre
Page 74 and 75: Amendments to IAS 12 “Income taxe
Page 76 and 77: 1.3. Basis of consolidation The con
Page 78 and 79: Changes in equity interests in subs
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Page 90 and 91: The table below sets out segment re
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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
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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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Annexes 303 www.italcementigroup.co
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ITALCEMENTI S.P.A. REPORT OF THE BO
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We ascertained that the Remuneratio
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312
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Sustainability disclosure Italcemen
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In 2010, the Group reinforced its a
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2 Looking forward 2.1 Targets 2015
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3 Social responsibility 3.1 Valuing
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2012 2011 2010 2012 2011 2010 Italy
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Trainees (%) 2012 2011 2010 Manager
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3.3 Health and product responsibili
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The Social Initiatives Policy reinf
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In 2012, Energy Efficiency Certific
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Power consumption, concrete 2012 20
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4.3 Air emissions At the end of 201
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Water consumption, cement 2012 2011
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Quarry management, cement (*) Matur
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5.2 Quality The Group is committed
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5.4 Sustainable construction Italce
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6 Reporting and additional informat
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6.4 Boundaries and reporting method
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Training management system Hours of
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Extraordinary session 351 www.italc
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Summary of resolutions The Annual G
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at an extraordinary session: to ren
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April 2013 Project by LSVmultimedia
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2012 Annual Report - Italcementi Group

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