Half-yearly financial Report at June 30, 2013 - A2A

Half-yearly financial report at June 30, 2013Notes to the balance sheetThe ten-year bond having a nominal value of 500 million euro issued on May 28, 2004 has beenreclassified to “Current financial liabilities”.The period end measurement of the non-convertible bonds at fair value and amortized costled to an increase of 2 million euro in “Non-current financial liabilities”.Interest of 51 million euro had accrued on the bonds at June 30, 2013.The various accounting treatments used for the bonds is the result of the different optionsselected during the stage of transition to IAS/IFRS by the companies merged on January 1,2008.Non-current amounts “Due to banks” decreased by 124 million euro over the period. This ismainly due to the voluntary repayment in the first quarter of 57 million euro of the debt ofEdipower S.p.A. and the reclassification of the portion falling due by the end of the next year to“Current financial liabilities”.The total of 201 million euro “Due to other providers of finance” is in line with the balance atDecember 31, 2012.“Finance lease payables” amounted to 3 million euro (3 million euro at December 31, 2012).8319) Employee benefitsThe balance on this item amounted to 321 million euro at June 30, 2013 (325 million euro atDecember 31, 2012), with changes as follows during the period:Millions of euro Balance at Accruals Utiliz- Other Balance at12 31 2012 ations changes 06 30 2013Employee leaving entitlement 168 13 (4) (11) 166Employee benefits 157 1 (5) 2 155Total employee benefits 325 14 (9) (9) 321Technical valuations were carried out on the basis of the following assumptions:06 30 2013 12 31 2012Discount rate 3.50% 3.50%Annual inflation rate 2.0% 2.0%