2011 Annual Report - Italcementi Group

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34. Audit fees Pursuant to the CONSOB Regulation for issuers, the table below sets out fees paid to the independent auditors KPMG S.p.A. and to companies belonging to the KPMG network. KPMG S.p.A. Other italian companies in the (in thousands of euro) KPMG Network Audit services 610 Other attestation services 5 Other legal, fiscal and corporate services 306 Total 615 306 35. Events after December 31, <strong>2011</strong> No other events occurred after December 31, <strong>2011</strong>, with respect to those already described out in the relevant section of the notes to the consolidated financial statements. Bergamo, March 2, 2012 For the Board of Directors The Chairman Giampiero Pesenti 298
Annexes 299 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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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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Page 256 and 257: Past service cost Changes in liabil
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Page 260 and 261: 2.1 Investment property Investment
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Page 264 and 265: Current assets 6. Inventories (in t
Page 266 and 267: Equity 12. Share capital At Decembe
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Page 272 and 273: 19. Net debt An itemized correlatio
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Page 276 and 277: At December 31, 2011, the average m
Page 278 and 279: 19.3.1 Fair value of derivatives Th
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Page 282 and 283: ELECTRICITY In 2011, Italcementi S.
Page 284 and 285: Income statement 23. Revenue Revenu
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Page 302 and 303: Annex 1 Highlights from the most re
Page 304 and 305: Report of the Board of Statutory Au
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 322 and 323: Current text If a subject connected
Page 324 and 325: The proposed amendments do not gran
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Page 328: Corporate bodies resulting from the
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2011 Annual Report - Italcementi Group

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