The table below sets out segment revenue and results for 2010: (in thousands of euro) Revenue Intragroup sales Contributive revenue Recurring EBITDA EBITDA EBIT Finance income (costs) exch.rate differences and derivatives Impairment on financial assets Share of profit (loss) of equity accounted investees Italy 689,475 (46,528) 642,947 (36,339) (33,337) (122,626) (1,359) France-Belgium 1,493,788 (13,444) 1,480,344 318,229 316,756 215,547 (250) Spain 176,458 (24,729) 151,729 31,604 31,094 7,657 - Others C.W.E. 70,262 (7,687) 62,575 14,549 14,573 10,176 (1,561) Eliminations (22,643) 22,643 - (12) (42) (43) - C.W.E. 2,407,340 (69,745) 2,337,595 328,031 329,044 110,711 (3,170) North America 415,295 (670) 414,625 25,387 21,717 (48,167) 10,911 Egypt 788,682 (5,764) 782,918 270,665 270,518 191,150 1,162 Morocco 326,066 (1,298) 324,768 125,661 122,422 95,586 8,730 Others EE.NA.ME. 130,328 (312) 130,016 23,921 23,985 6,847 (476) Eliminations (518) 518 - - - - - EE.NA.ME. 1,244,558 (6,856) 1,237,702 420,247 416,925 293,583 9,416 Thailand 180,236 (3,635) 176,601 14,959 14,740 (7,306) - India 169,806 - 169,806 36,015 35,903 20,162 - Others Asia 98,926 - 98,926 17,264 17,089 7,170 - Eliminations 1 (1) - (1) - - - Asia 448,969 (3,636) 445,333 68,237 67,732 20,026 - Profit Income tax before tax expense Cement and clinker trading 229,286 (93,056) 136,230 14,304 14,296 11,375 (105) Other operations 424,634 (336,112) 88,522 (14,489) (9,990) (16,966) - Unallocated items - - - - - - (89,810) (21,014) - 276,453 (60,608) Eliminations (510,075) 510,075 - (19) (339) (337) - Total 4,660,007 - 4,660,007 841,698 839,385 370,225 (89,810) (21,014) 17,052 276,453 (60,608) 88
<strong>2011</strong> <strong>Annual</strong> <strong>Report</strong> Presentation 4 General information 15 <strong>Annual</strong> <strong>Report</strong> Consolidated <strong>Annual</strong> <strong>Report</strong> Directors’ report 28 Extraordinary session <strong>Italcementi</strong> S.p.A. <strong>Annual</strong> <strong>Report</strong> Consolidated financial statements 63 The table below sets out other segment data at December 31, <strong>2011</strong>: (in thousands of euro) Operating assets December 31, <strong>2011</strong> Operating liabilities Investments in associates Depreciation PPE and investment property and amortization intangible assets Impairment Italy 1,506,212 406,230 5,750 (110,547) (42,344) France-Belgium 1,967,922 514,483 7,612 (96,398) (1,781) Spain 458,459 41,865 - (18,956) (56,841) Others C.W.E. 76,013 12,156 61,223 (4,507) (13,022) Eliminations (4,603) (4,588) - - - C.W.E. 4,004,003 970,146 74,585 (230,408) (113,988) North America 1,099,162 122,417 91,971 (64,769) (3,564) Egypt 1,264,346 222,849 5,127 (66,426) - Morocco 630,262 95,878 40,717 (37,501) - Others EE.NA.ME. 305,901 24,927 1,279 (15,106) (5,681) Eliminations (23) (23) - - - EE.NA.ME. 2,200,486 343,631 47,123 (119,033) (5,681) Thailand 344,259 37,924 - (22,812) 6,288 India 448,525 76,919 - (18,486) - Others Asia 122,787 12,984 - (9,658) - Eliminations - - - - - Asia 915,571 127,827 - (50,956) 6,288 Cement and clinker trading 79,062 30,485 3,063 (2,734) (1,101) Other operations 147,788 162,359 - (6,926) (16,234) Unallocated items - - - - - Eliminations (123,569) (127,472) - - - Total 8,322,503 1,629,393 216,742 (474,826) (134,280) 89 www.italcementigroup.com
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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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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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Annex 1 The following table has bee
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Company Registered office Share cap
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Company Registered office Share cap
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Company Registered office Share cap
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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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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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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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(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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The proposed amendments do not gran
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Corporate bodies resulting from the