2011 Annual Report - Italcementi Group

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35. Earnings per share Earnings per share are determined on the profit for the period attributable to owners of the parent and are stated separately for ordinary shares and savings shares. Basic earnings per share Basic earnings per share are computed by dividing profit for the period attributable to ordinary and savings shareholders by the weighted average number of outstanding ordinary and savings shares for the period. Earnings per savings shares are increased with respect to earnings per ordinary shares by an amount equivalent to 3% of the share nominal value. The weighted average number of shares and attributable profit are shown below: 2011 2010 ordinary savings savings ordinary shares (no. shares in thousands) shares shares shares No. shares at beginning of period 177,118 105,431 177,118 105,431 Treasury shares at beginning of period (3,793) (106) (3,793) (106) Weighted average number of treasury shares purchased in period Weighted average number of treasury shares sold in period Weighted average number of shares at end of period 173,325 105,326 173,325 105,326 (in thousands of euro) Attributable profit (loss) for the period (3,923) 776 26,510 19,270 (euro) Basic earnings per share -0.023 0.007 0.153 0.183 Profit (loss) attributable to continuing operations (59,379) (32,923) 36,085 25,088 (euro) Basic earnings per share attributable to continuing operations -0.343 0.313 0.208 0.238 130
2011 Annual Report Presentation 4 General information 15 Annual Report Consolidated Annual Report Directors’ report 28 Extraordinary session Italcementi S.p.A. Annual Report Consolidated financial statements 63 Diluted earnings per share Diluted earnings per share are computed in the same way as basic earnings per share, taking account of the dilutive effect of stock options; in 2011 this effect was zero. The weighted average number of shares and attributable profit are set out below: 2011 2010 ordinary savings savings ordinary shares (no. shares in thousands) shares shares shares Weighted average number of shares at end of period 173,325 105,326 173,325 105,326 Dilutive effect of stock options 1 - Weighted average number of shares at end of period 173,325 105,326 173,326 105,326 (in thousands of euro) Attributable profit (loss) for the period for diluted earnings per share (3,923) 776 26,510 19,270 (euro) Diluted earnings per share -0.023 0.007 0.153 0.183 Profit (loss) attributable to continuing operations (59,379) (32,923) 36,085 25,088 (euro) Diluted earnings per share attributable to continuing operations -0.343 -0.313 0.208 0.238 131 www.italcementigroup.com
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2011 Annual Report
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2011 Annual Report Italcementi S.p.
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The Group has decided to take a fur
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2011 Annual Report Presentation Ita
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2011 Annual Report Presentation 4 G
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Directors’ report Following the a
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The Calcestruzzi group returned to
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Financial performance in 2011 Key c
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In cement and clinker, performance
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Revenue and operating performance C
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The loss relating to continuing ope
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Net debt breakdown (in millions of
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4. Implementation of defined mitiga
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Financial disclosure risks The main
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the negative trend in sales volumes
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Ready mixed concrete sales volumes
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ASIA Thailand India Others (1) Tot
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70% by Fotowatio Italy, a subsidiar
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During the year Italcementi S.p.A.
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Raw materials and alternative fuels
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Engineering, technical assistance,
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After a revenue decline in 2009 and
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Outlook The markets on which the Gr
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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 2011
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21. Deferred tax assets and Deferre
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limits in question. The benefits ar
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Associates Associates are companies
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1.5 Translation of foreign currency
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Subsequent to initial recognition,
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Page 94 and 95: 5.2 Investment property (in thousan
Page 96 and 97: As in 2010, for the CGUs in the EU
Page 98 and 99: Sensitivity analysis With reference
Page 100 and 101: Other equity investments at Decembe
Page 102 and 103: 14. Share capital and Share premium
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: of the favorable ruling obtained in
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Page 112 and 113: No drawings had been made on the sy
Page 114 and 115: As a result of the Moody’s rating
Page 116 and 117: At December 31, 2011, lines of cred
Page 118 and 119: 22.3.1 Fair value of derivatives Th
Page 120 and 121: 22.4.1 Interest-rate risk hedging T
Page 122 and 123: With regard to financing for subsid
Page 124 and 125: In 2011, in view of the surplus acc
Page 126 and 127: 26. Services Services amounted to 1
Page 128 and 129: 28. Other operating income (expense
Page 130 and 131: The reconciliation between the tax
Page 134 and 135: 36. Transactions with related parti
Page 136 and 137: 38. Statement of cash flows 38.1 Ca
Page 138 and 139: 40. Audit fees (as per CONSOB Resol
Page 140 and 141: Annex 1 The following table has bee
Page 142 and 143: Company Registered office Share cap
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Page 152 and 153: Directors’ report Any changes in
Page 154 and 155: which remained the most dynamic com
Page 156 and 157: Statement of financial position, ca
Page 158 and 159: Dealings with subsidiaries, joint v
Page 160 and 161: Risks and uncertainties Italcementi
Page 162 and 163: Ratings risks The Group’s ability
Page 164 and 165: January 2011 entitled “Europe at
Page 166 and 167: Ciments Français S.A. profit for t
Page 168 and 169: INFORMATION ON OWNERSHIP STRUCTURE
Page 170 and 171: l) Laws applicable to the appointme
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Page 174 and 175: ) implementing the guidelines defin
Page 176 and 177: A) ORGANIZATIONAL STRUCTURE Board o
Page 178 and 179: No limits to re-eligibility of dire
Page 180 and 181: * Mittel S.p.A. - Director Pierfran
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The Code provides for the Board of
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Lastly, the Board of Directors, in
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) a brief resume on the personal an
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) evaluate the proposals made by ex
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time to express their point of view
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In addition, the Chief Executive Of
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During 2011 the Internal control co
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TABLE 1 STRUCTURE OF THE BOARD OF D
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to be noted that CONSOB, the Italia
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* indicates the responsibilities, p
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consolidated financial statements.
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to apportion the profit for the yea
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Department of Human Resources and O
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A) VARIABLE COMPONENTS Under the Po
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This plan aims at: - tying the over
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The variable components are aligned
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With reference to the other offices
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The Board of Directors may also gra
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) Plan Management The corporate bod
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g) Any Support for the Plan by the
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position of the role of each benefi
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2) With respect to the stock option
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Name, surname Position Period durin
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Yves René Nanot Marco Piccinini At
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Monetary Incentive Plans in Favor o
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Participation of Governing and Supe
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3) Term of the authorization. The a
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specifically, with laws and regulat
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Each section shall list in progress
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238
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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 (euro) Note
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Notes The Italcementi S.p.A. financ
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1.2. Accounting policies and basis
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1.7. Property, plant and equipment
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1.13. Inventories Inventories are m
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Past service cost Changes in liabil
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Interest income Interest income is
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2.1 Investment property Investment
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The list of investments in subsidia
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Current assets 6. Inventories (in t
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Equity 12. Share capital At Decembe
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Dividends paid Dividends approved i
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18. Deferred tax assets and deferre
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19. Net debt An itemized correlatio
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Main bank loans and drawn and avail
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At December 31, 2011, the average m
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19.3.1 Fair value of derivatives Th
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19.4.1 Interest-rate risk hedging T
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ELECTRICITY In 2011, Italcementi S.
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Income statement 23. Revenue Revenu
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Stock options The company has set u
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30. Finance income (costs), exchang
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Breakdown of receivables and payabl
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Commitments with related parties (i
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(Breakdown of revenue and costs wit
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(Breakdown of revenue and costs wit
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Impact of transactions with related
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34. Audit fees Pursuant to the CONS
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Annex 1 Highlights from the most re
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Report of the Board of Statutory Au
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On the other hand, the absence of a
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308
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Report of the Board of Directors Pr
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Current text ordinary and/or saving
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Current text In each list, the name
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Current text If there are no lists,
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Current text means of another perso
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Current text If a subject connected
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The proposed amendments do not gran
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• operate, in compliance with cur
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Corporate bodies resulting from the
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2011 Annual Report - Italcementi Group

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