Reply SpA

Statutory financial statements at December 31, 2010
In accordance to IAS 19, Employment severance indemnities at December 31, 2010 is summarized in the table below:
(in Euros)
Balance at 31/12/2009 562,424
Actuarial gains/losses (31,913)
Interest cost 20,815
Indemnities paid during the year (32,915)
Other changes (27,670)
Balance at 31/12/2010 490,741
Note 30 - Deferred tax liabilities
Deferred tax liabilities at December 31, 2010 amounted to 319,879 Euros and are referred mainly to the fiscal effects
arising from temporary differences deriving from statutory income and taxable income related to deferred deductibility.
(in Euros)
Balance at 31/12/2009 286,908
- accruals 32,971
- utilized -
Total at 31/12/2010 319,879
- On deductible items off the books 197,671
- Different goodwill measurements 112,475
- Other 9,733
Total at 31/12/2010 319,879
Note 31 - Trade payables
Trade payables at year end amounted to 127,560,467 Euros with an increase of di 9,695,912 Euros compared to
December 31, 2009. Detail is as follows:
(in Euros) 31/12/2010 31/12/2009 Change
Due to suppliers 4,679,172 7,064,028 (2,384,856)
Due to subsidiary companies 110,063,247 88,056,567 22,006,680
Advance payments 12,818,048 22,743,960 (9,925,912)
Total 127,560,467 117,864,555 9,695,912
Due to suppliers mainly refers to services from domestic suppliers (4,574 thousand Euros).
Due to subsidiary companies recorded a change of 22,006,680 Euros and refers to professional services in connection
to third party agreements with Reply S.p.A. Reply S.p.A. also carries out fronting activities with key clients in capacity
of sole manager of the ISO 9001 procedures where the delivery is carried out by the operational subsidiaries.
Advance payments include advances received from customers for contracts subcontracted to subsidiary companies,
which at the balance sheet date were not yet completed.
The carrying amount of Trade payables is deemed to be in line with its fair value.
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