Download - Ferrovial - Annual Report 2012

Consolidated financial statements at 31 December 2011
Ferrovial S.A. and Subsidiaries
Name/
Company
name
Acerinox
Dornier
Holcim
Banco Pastor
Ferrovial
Group
company
Ferrovial
Servicios,
S.A. /
subsidiaries
Ferrovial
Servicios,
S.A. /
subsidiaries
Ferrovial
Servicios,
S.A. /
subsidiaries
Ferrovial
Agromán /
subsidiaries
Ferrovial
Group
companies
Ferrovial
Group
companies
Ferrovial
Group
companies
Ferrovial
Group
companies
Ferrovial
Group
companies
Ferrovial
Group
companies
Nature of
transaction Type of transaction Amount
Commercial
Commercial
Commercial
Provision of waste
collection services
Provision of maintenance
services
Provision of maintenance
services
(Thousands of Euros)
2011 2010
Profit or
Loss Balance Amount
Profit or
Loss
Balance
7 1 1 (-) (-) (-)
41 0 2 (-) (-) (-)
4 2 2 (-) (-) (-)
Commercial Purchase of cement 1 (*) 0 (-) (-) (-)
Commercial
Commercial
Balance drawn down
against credit facilities
Financing agreements
Guarantee
16,300 (*) -16,300 6,800 (*) -6,800
350 (*) -350 (-) (-) (-)
Commercial Payment of interest 30 30 0 (-) (-) (-)
Commercial Payment of interest 163 (*) 0 105 (*) 0
Commercial
Commercial
Balance drawn down
against guarantee
facilities
Payment of bank
commissions and fees
400 (*) -400 400 (*) -400
167 (*) 0 11 (*) 0
(*) No profit or loss is stated as the relevant amount pertains to the entity or person providing the service.
Lastly, in addition to the aforementioned transactions, nine arm’s length transactions were performed in 2011 with members of the
controlling family group or entities related to them, directors and senior executives, directly or through related persons, for an overall
total of EUR 44 thousand (EUR 21 thousand in 2010), comprising collections for/performance of minor construction work in private
residences or corporate headquarters; provision of fitting, repair and maintenance services at facilities; provision of waste collection
and integrated management services; and sundry services received, all for a limited duration and amount. Where companies of
Ferrovial acted as service providers, the profit obtained totalled EUR 3 thousand (EUR 1 thousand in 2010) and the balance was EUR
17 thousand (EUR 0 in 2010).
The information on remuneration and loans relating to directors and senior executives may be consulted in the section “Remuneration
of Directors and Senior Executives".
Intra-Group transactions
Set out below is information on transactions between Ferrovial companies which, since they form part of their ordinary businesses as
regards purpose and conditions, were not eliminated on consolidation for the following reason:
As explained in detail in Note 3.2-d., the balances and transactions relating to construction work performed by the Construction
Division for infrastructure concession operators are not eliminated on consolidation since, at consolidated level, contracts of this type
are classed as construction contracts in which, during the performance of the contract, the work is deemed to be performed for third
parties, as the ultimate owner of the work is the grantor both from a financial and legal viewpoint.
In 2011 Ferrovial’s Construction Division billed those companies for EUR 668,368 thousand (EUR 711,800 thousand in 2010) for work
performed and related advance payments and, in this respect, recognised sales totalling EUR 664,820 thousand (EUR 581,600
thousand in 2010).
Ferrovial, S.A. Consolidated financial statements at 31 December 2011 98