6 - Vicat

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20Financial information concerning the asset base,the financial condition and the results of the issuer20.2. HISTORICAL FINANCIAL INFORMATIONNOTE 10 INVENTORIES AND WORK-IN-PROGRESS2009 2008(in thousands of euros) Gross Provisions Net Gross Provisions NetRaw materials and consumables 211,089 (5,970) 205,119 219,803 (4,640) 215,163Work-in-progress, finished goods andgoods for sale 91,181 (1,160) 90,021 98,580 (1,287) 97,293Total 302,270 (7,130) 295,140 318,383 (5,927) 312,456NOTE 11 RECEIVABLES(in thousands of euros)TradeandotherreceivablesProvisionsforTradeandotherreceivablesNet tradeandother receivablesOthertaxreceivablesSocialsecurityrelatedreceivablesOther receivablesProvisionsforOtherreceivablesNet totalOtherreceivablesAt December 31, 2007 418,139 (11,631) 406,508 34,383 5,230 49,809 (2,974) 86,448Increases (6,458) (6,458) (49) (49)Uses 2,223 2 223 165 165Reversal of unused provision - -Changes in foreignexchange rates (2,296) 478 (1,818) (946) 214 615 (117)Changes inconsolidation scope 3,939 (507) 3,432 2,602 50 439 3,092Other movements (35,223) (2) (35,225) 976 1,630 1,952 (53) 4,505At December 31, 2008 384,559 (15,897) 368,662 37,016 7,124 52,816 (2,911) 94,044Increases (6,787) (6,787) (149) (149)Uses 5,286 5,286 212 212Changes in foreignexchange rates (911) 169 (742) (818) 26 (107) (899)Changes inconsolidation scope 3,133 (29) 3,104 186 1,144 1,330Other movements (49,109) 124 (48,985) 6,025 (3,549) 6 271 8,747At December 31, 2009 337,672 (17,134) 320,538 42,409 3,601 60,124 (2,848) 103,285including matured at December 31, 2009- for less than3 months 44,041 (3,182) 40,859 13,813 580 28,311 (1,190) 41,514- for more than3 months 27,304 (13,627) 13,677 12,112 1 370 (7) 12,476including not matured at December 31, 2009- less than one year 263,487 (156) 263,331 13,380 1,903 20,455 (1,066) 34,672- more than one year 2,840 (169) 2,671 3,104 1,117 10,988 (585) 14,623148 VICAT - 2009 registration document
Financial information concerning the asset base,20the financial condition and the results of the issuer20.2. HISTORICAL FINANCIAL INFORMATIONNOTE 12 CASH AND CASH EQUIVALENTS(in thousands of euros) 2009 2008Cash 56,648 89,276Marketable securities 178,060 20,282Cash and cash equivalents 234,708 109,558NOTE 13 COMMON STOCKVicat share capital is composed of 44,900,000fully paid-up ordinary shares of 4 euros, including1,083,443 treasury shares at December 31, 2009(1,367,979 at December 31, 2008) acquired under theshare buy-back programs approved by the OrdinaryGeneral Meetings, and through Heidelberg Cement’sdisposal of its 35 % stake in Vicat in 2007.These are registered shares or bearer shares, atthe shareholder’s option. Voting rights attached toshares are proportional to the share of the capitalwhich they represent and each share gives the rightto one vote, except in the case of fully paid-up sharesregistered for at least 4 years in the name of the sameshareholder, to which two votes are assigned.The dividend paid in 2009 in respect of 2008 amountedto 1.50 euro per share, amounting to a totalamount of 67,350 thousand euros, compared with1.50 euro per share paid in 2008 in respect of 2007and amounting to a total amount of 70,157 thousandeuros. The dividend proposed by the Board ofdirectors to the Ordinary General Meeting for 2009amounts to 1.50 euro per share, totaling 67,350 thousandeuros.In the absence of any dilutive instrument, dilutedearnings per share are identical to basic earnings pershare, and are obtained by dividing the Group’s netincome by the weighted average number of Vicatordinary shares outstanding during the year.NOTE 14EMPLOYEE BENEFITSAnalysis of provisions by type of commitment(in thousands of euros) 2009 2008Pension plans and termination benefits (TB) 23,898 21,086Other post-employment benefits 20,192 21,142Total 44,090 42,228Assets and liabilities recognized in the balance sheet2009 2008(in thousands of euros)Pensionplans and TBOtherbenefits TotalPensionplans and TBOtherbenefits TotalPresent value of funded liabilities 260,206 29,582 289,788 259,119 25,833 284,952Fair value of plan assets (244,991) (244,991) (225,457) (225,457)Net value 15,215 29,582 44,797 33,662 25,833 59,495Net unrecognized actuarial variances (9,517) (8,372) (17,889) (37,794) (4,660) (42,454)Unrecognized past service costs (15) 16 1 (35) (9) (44)Net recognized assets 10,333 10,333 18,370 18,370Net liabilities 16,016 21,226 37,242 14,204 21,163 35,3672009 registration document - VICAT 149
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egistrationdocument& financialannua
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2STATUTORYAUDITORS2.1. Incumbent au
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Selected financial information3.1.
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INFORMATION ABOUT THE COMPANY5.2. I
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BUSINESS OVERVIEW6 6.1. OVERVIEW OF
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BUSINESS OVERVIEW66.3. DESCRIPTION
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BUSINESS OVERVIEW66.3. DESCRIPTION
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organisation chart77.2. INFORMATION
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organisation chart77.2. INFORMATION
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8Real estate,factories andequipment
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Real estate, factories and equipmen
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EXAMINATION OF THE FINANCIAL CONDIT
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9EXAMINATION OF THE FINANCIAL CONDI
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11RESEARCH ANDDEVELOPMENT,PATENTS A
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12INFORMATIONON TRENDS12.1. Recent
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24DOCUMENTSAVAILABLE TOTHE PUBLICOf
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appendix1Report by the president on
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1appendixReport by the president on
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appendix2Statutoryauditors'reportpr
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appendix3ANNUALINFORMATION(ARTICLE
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3appendixANNUAL INFORMATION5. Decla
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4appendixELEMENTS CONSTITUTING THE
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GLOSSARYAdditiveAggregateAuto-level
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GLOSSARYClinkerisationCoalCoatingCo
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GLOSSARYGranulometryGrindingGrindin
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GLOSSARYPrecalcinatorCombustion cha
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GLOSSARYType of cementVibrationWork
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