2011 Annual Report - Italcementi Group

Financial statements
Statement of financial position
(euro) Notes 12.31.2011 12.31.2010 Change
Non-current assets
Property, plant and equipment 2 582,027,296 595,500,863 (13,473,567)
Investment property 2 12,875,572 13,679,317 (803,745)
Intangible assets 3 28,592,972 19,948,359 8,644,613
Investments in subsidiaries and associates 4 1,721,666,830 1,740,651,185 (18,984,355)
Other equity investments 4 5,731,012 5,802,455 (71,443)
Deferred tax assets 18 26,533,915 12,079,357 14,454,558
Other non-current assets 5 200,708,026 172,661,978 28,046,048
Total non-current assets 2,578,135,623 2,560,323,514 17,812,109
Current assets
Inventories 6 108,592,701 109,876,613 (1,283,912)
Trade receivables 7 276,998,802 220,693,223 56,305,579
Other current assets including derivatives 8 74,570,047 20,291,942 54,278,105
Tax assets 9 4,795,813 18,196,761 (13,400,948)
Equity investments, bonds and financial assets 10 375,757,775 419,738,235 (43,980,460)
Cash and cash equivalents 11 478,967 946,229 (467,262)
Total current assets 841,194,105 789,743,003 51,451,102
Total assets 3,419,329,728 3,350,066,517 69,263,211
Equity
Share capital 12 282,548,942 282,548,942 -
Share premium 13 344,103,798 344,103,798 -
Reserves 13 17,998,546 21,230,658 (3,232,112)
Treasury shares 14 (58,689,585) (58,689,585) -
Retained earnings 15 1,198,686,097 1,225,122,196 (26,436,099)
Total equity 1,784,647,798 1,814,316,009 (29,668,211)
Non-current liabilities
Financial liabilities 19 832,068,566 1,076,223,836 (244,155,270)
Employee benefits 16 41,392,717 39,622,175 1,770,542
Provisions 17 27,311,521 30,620,306 (3,308,785)
Other non-current liabilities 19 27,144,996 11,370,466 15,774,530
Total non-current liabilities 927,917,800 1,157,836,783 (229,918,983)
Current liabilities
Loans and borrowings 19 146,416,308 135,545,990 10,870,318
Financial liabilities 19 338,554,990 54,028,086 284,526,904
Trade payables 20 142,637,020 132,472,181 10,164,839
Other current liabilities 21 79,155,812 55,867,468 23,288,344
Total current liabilities 706,764,130 377,913,725 328,850,405
Total liabilities 1,634,681,930 1,535,750,508 98,931,422
Total equity and liabilities 3,419,329,728 3,350,066,517 69,263,211
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