Financial Statements 2009 - Manutencoop

Current lIabIlItIes from derIvatIvesthe ageing of trade payables as of 31 December 2009 is presented in the following table:(in thousands of Euro) 31 december 2009 31 december 2008Financial liabilities at fair value 61 55total Current lIabIlItIes from derIvatIves 61 55(in thousands of Euro) total not yet due not overdueas of 31/12/2009 149,539 108,500 41,039as of 31/12/2008 159,189 115,418 43,77120. non-Current fInanCIal lIabIlItIes from hedgIng derIvatIvesthe contract for the bnl/paribas loan envisaged the arrangement, by 23 June 2009, of one ormore derivatives to hedge the risk of fluctuations in the floating rate of interest charge on theloan, nominal value euro 165,000 thousand. the derivative had to hedge at least 50% of thedrawdown against this loan. in this regard, the Group arranged three different interest rate swapswith a total hedged notional of euro 105,000 thousand, paying a fixed rate and collecting thefloating rate paid on the loan. the fair (marked to market) value of the related liability as of 31December 2009 is euro 1,064 thousand. the derivative was designated as a hedge from the startand the tests performed have confirmed its effectiveness both as of 31 December 2009 and ona prospective basis.For this reason, the changes in the fair value of this derivative are recognised directly in equity, netof the related tax effect.terms and conditions relating to the above liabilities:the terms and conditions governing transactions with related parties are described in a separatenote.trade payables do not bear interest and, on average, are settled 207 days from the invoice date.other payables do not bear interest and are generally settled after 30 days, except for the amountsdue to employees for 14th-month wages and salaries and untaken holidays, which are settledafter 6 months on average, and for the Vat payable to the tax authorities on deferred terms,which is settled when the related receivables are collected.22. segment reportIngFollowing deferral of the listing process, the company is not required to provide segmentinformation but, nevertheless, has decided to make the related disclosures in the consolidatedfinancial statements.21. trade and other Current payables23. revenues from sales and servICes(in thousands of Euro) 31 december 2009 31 december 2008trade payables 104,295 113,539trade payables - subsidiaries 16,129 9,174trade payables - associates and joint ventures 18,103 24,033trade payables - parent companies 8,806 10,347Due to customers for work to be performed 2,206 2,094Due to employees 24,433 20,806Due to social security institutions 3,290 2,952Due to tax authorities 22,573 22,670collections for temp. associations 6,407 8,965emoluments due to directors 306 32property collections for customers 2,178 2,176other 705 991roundings 0 1total 209,431 217,785revenues from sales and servICes(in thousands of Euro) 2009 2008revenues from sales of products 0 18cleaning and sanitation services 218,770 197,855Heat management 54,344 74,778construction, renovation of buildings 57,765 49,056integrated maintenance services - plant and buildings 69,436 54,163care of green areas 9,732 8,583porterage services 3,281 4,094plant installation work 7,471 4,650cemetery services 859 868ecological services - 15asset management 2,379 1,717other services 34,118 32,921total 458,155 428,718pursuant to art. 5.1.b of Decree 221/2003, it is confirmed that the company's shareholders'equity is 89 times greater than the 2009 sales of the "porterage" sector.88 - Financial statements as oF 31 December 2009 - principles anD explanatory notes Financial statements as oF 31 December 2009 - principles anD explanatory notes - 89