2011 Annual Report - Italcementi Group

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(Breakdown of revenue and costs with related parties – following) (in thousands of euro) Description Company Notes Amount % impact on financial statements items Carrying amounts Reference Other revenue Ciments Français S.A. recharges of SW licenses- SW maintenance, development of Group projects 3,412 C.T.G. S.p.A. lease fee and income for company branch 2,819 Calcestruzzi S.p.A. 857 Al Badia Cement JSC 696 Axim Italia S.r.l. 120 Other companies 591 Other related parties 21 Total other revenue 8,516 26.4% 32,255 Note 24 Other income Other companies 11 Other expense Other companies ( 53) Other related parties payments to Fondazione Italcementi and other expense ( 600) Total other operating expense ( 642) -1.5% 43,941 Note 28 Net gains from the sale of assets Various companies 32 Total net gains from the sale of assets 32 0.2% 16,337 Note 29 292
2011 Annual Report Presentation 4 General information 15 Annual Report Consolidated Annual Report Directors’ report 150 Extraordinary session Italcementi S.p.A. Annual Report Separate financial statements 239 (Breakdown of revenue and costs with related parties – cont.) (in thousands of euro) Description Company Notes Amount % impact on financial statements items Carrying amounts Reference Dividends and other income from equity investments Ciments Français S.A. 133,957 Italgen S.p.A. 5,994 S.I.I.L. SA 3,096 Cementi e Calci S. Marinella S.r.l. 2,334 Axim Italia S.r.l. 1,299 C.T.G. S.p.A. 850 Silos Granari della Sicilia S.r.l. 706 Gruppo Italsfusi S.r.l. 288 Total dividends and other income from equity investments 148,524 98.2% 151,256 Note 30 Interest income on intragroup accounts Calcestruzzi S.p.A. 3,389 Ciments Français S.A. 1,590 Cementificio di Montalto S.p.A. 1,416 International City for Ready Mix 280 Italgen S.p.A. 244 Nuova Sacelit S.r.l. 230 Intercom S.r.l. 199 Calcementi Jonici S.r.l. 195 Axim S.p.A. 146 BravoSolution S.p.A. 111 Other companies 156 Total interest income 7,956 99.1% 8,026 Note 30 Fees on guarantees and commodity derivatives Ciments Calcia S.A. 8,958 Devnya Cement AD 2,990 Sociedad Financiera Y Minera 1,815 Compagnie des Ciments Belges 957 Vulkan Ead 624 Italcementi Finance S.A. 302 Halyps Building Mat. S.A. 199 Other companies 168 Other finance income 16,013 37.1% 43,206 Note 30 293 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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Deferred tax assets and deferred ta
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1.21. Trade payables and other paya
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2. Exchange rates used to translate
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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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5.2 Investment property (in thousan
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As in 2010, for the CGUs in the EU
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Sensitivity analysis With reference
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Other equity investments at Decembe
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14. Share capital and Share premium
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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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of the favorable ruling obtained in
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22.1 Financial liabilities Financia
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No drawings had been made on the sy
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As a result of the Moody’s rating
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At December 31, 2011, lines of cred
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22.3.1 Fair value of derivatives Th
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22.4.1 Interest-rate risk hedging T
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With regard to financing for subsid
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In 2011, in view of the surplus acc
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26. Services Services amounted to 1
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28. Other operating income (expense
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The reconciliation between the tax
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35. Earnings per share Earnings per
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36. Transactions with related parti
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38. Statement of cash flows 38.1 Ca
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40. Audit fees (as per CONSOB Resol
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Annex 1 The following table has bee
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Company Registered office Share cap
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148
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Directors’ report Any changes in
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which remained the most dynamic com
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Statement of financial position, ca
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Dealings with subsidiaries, joint v
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Risks and uncertainties Italcementi
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Ratings risks The Group’s ability
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January 2011 entitled “Europe at
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Ciments Français S.A. profit for t
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INFORMATION ON OWNERSHIP STRUCTURE
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l) Laws applicable to the appointme
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- Selection of priority risks and d
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) implementing the guidelines defin
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A) ORGANIZATIONAL STRUCTURE Board o
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No limits to re-eligibility of dire
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* 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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Page 248 and 249: Notes The Italcementi S.p.A. financ
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Page 282 and 283: ELECTRICITY In 2011, Italcementi S.
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Page 306 and 307: On the other hand, the absence of a
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Page 312 and 313: Report of the Board of Directors Pr
Page 314 and 315: Current text ordinary and/or saving
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Page 328: Corporate bodies resulting from the
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2011 Annual Report - Italcementi Group

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