Financial Statements 2009 - Manutencoop

3. busIness CombInatIons and dIsposals3.1 Absorption of Consorzio Pulizie Veneto Soc. Cons. a.r.l.the deed for the absorption of consorzio pulizie Veneto soc. cons. a r.l. (absorbed company) bymanutencoop Facility management s.p.a. (absorbing company) was signed on 21 october 2009.the company held the entire quota capital of consorzio pulizie Veneto soc. cons. a r.l. and,accordingly, the merger took place without any share exchange, by cancelling all the quotas heldin the absorbed company and replacing them by its assets and liabilities.there were many business reasons for this merger: on the one hand, consorzio pulizie Venetosoc. cons. a r.l. was already wholly owned by manutencoop Facility management s.p.a. and, onthe other, the merger would release the organisational/operational synergies deriving from themanagement of similar activities.the transaction was carried out by parties that are under common control and, accordingly, is notgoverned by iFrs 3.the effective date for the merger was 1 January 2009 and the 2009 transactions of the absorbedcompany were therefore recorded in the financial statements of the absorbing company withretroactive effect.the accounting effects were determined by applying the general principle of consistency, asrequired by assirevi in opi 2.Due to the accounting treatment adopted, the merger did not result in the identification of highercurrent values with respect to those already reflected in the financial statements of the absorbingcompany.as envisaged in opi 2 with regard to retroactive accounting effects and in order to ensure thecomparability of the company's 2009 data with those of the prior year, the following tablecompares the information already reported in the balance sheet and income statement, with theaddition of a third column reporting the consolidation of the absorbing and absorbed companiesas of 31 December 2008.statement of fInanCIal posItIon(in thousands of Euro) 31 December 2009 31 December 2008 ConsolidatedManutencoop Facility Manutencoop Facility Manutencoop FacilityManagement S.p.A. Management S.p.A. Management S.p.A.and Consorzio PulizieVeneto Soc. Cons. a r.l.31 December 2008assetsnon-current assetsproperty, plant and equipment 5,249,676 5,921,623 5,955,082leased property, plant and equipment 693,859 954,818 954,818Goodwill 25,773,340 25,773,340 25,773,340other intangible assets 7,857,051 8,853,873 8,853,873investments in subsidiaries, joint ventures, associates 339,532,664 330,366,562 330,356,232other equity investments 1,542,313 1,093,780 1,093,780non-current financial receivables and other securities 2,082,189 964,695 964,695other non-current receivables and assets 662,559 753,453 753,453Deferred tax assets 5,412,553 1,474,836 1,474,836total non-current assets 388,806,203 376,156,980 376,180,110Current assetsinventories 988,935 1,262,413 1,262,413trade receivables and advances to suppliers 262,996,719 256,456,873 256,469,260current tax receivables 0 3,869,163 3,877,079other current receivables 4,792,495 3,469,621 3,478,128other current financial assets 93,734,937 66,630,910 66,630,910cash and cash equivalents 18,275,368 20,461,781 20,467,581total current assets 380,788,454 352,150,761 352,185,371non-current assets held for sale 0 0total non-current assets held for sale 0 0total assets 769,594,657 728,307,741 728,365,481lIabIlItIes and shareholders' equItyshareholders' equityshare capital 109,149,600 109,149,600 109,149,600share premium reserve 144,736,293 143,685,365 143,685,365reserves 22,210,863 11,706,230 11,706,230retained earnings (losses) 3,808,981 3,808,981 3,808,981net profit (loss) for the year 10,092,441 14,994,651 14,994,651total shareholders' equity 289,998,178 283,344,827 283,344,827non-current liabilitiesemployee severance indemnities - benefits 13,020,925 13,455,363 13,455,363provisions for risks and charges - long term 2,501,753 1,474,837 1,474,837loans - long term 113,333,938 104,354,663 104,354,663Deferred tax liabilities 1,407,044 1,401,444 1,401,444non-current liabilities from hedging derivatives 1,064,745 0 0total non-current liabilities 131,328,405 120,686,307 120,686,307Current liabilitiesprovisions for risks and charges - short term 7,405,807 307,585 307,585loans - short term 149,539,309 159,188,267 159,228,235trade payables and advances from customers 5,418,459 0 15,667current tax receivables 59,892,148 58,596,791 58,596,791other current payables 125,951,248 106,129,421 106,131,526other current financial payables 61,104 54,542 54,542total current liabilities 348,268,076 324,276,606 324,334,347liabilities attributable to assets held for sale 0 0 0total liabilities attributable to assets held for sale 0 0 0total lIabIlItIes and shareholders' equIty 769,594,657 728,307,740 728,365,48162 - Financial statements as oF 31 December 2009 - principles anD explanatory notes Financial statements as oF 31 December 2009 - principles anD explanatory notes - 63