5. - Secil

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1. Consolidated Income Statement CONSOLIDATED INCOME STATEMENT AS OF DECEMBER 31, 2008 AND 2007 Amounts in Euro Note 31/12/08 31/12/07 Sales 562 415 224 525 747 959 Service income 37 575 633 40 172 610 Cash discounts (1 478 970) (1 745 934) Movement in finished goods and work in progress 7 750 055 2 227 023 Cost of sales on goods held for resale (168 452 485) (153 444 173) Third party supplies (201 137 468) (182 818 765) Personnel costs 5 (80 188 736) (78 562 666) Inventory adjustments (loses) / reversals 24 (253 542) (690 360) Impairment charges on receivables 24 (2 302 725) (1 058 284) Provisions (increase) / decrease 29 (26 074) (80 761) Other operating income 7 77 429 357 10 611 282 Other operating costs 8 (74 034 723) (17 257 528) Earnings before interest, taxes, depreciation, amortisation, government grants, group share of associates, profits and gain/losses on disposal of non-current assets 157 347 694 143 100 403 Depreciation and amortisation ((costs) / reversals) 17 (56 793 449) (61 487 008) Government grants 32 1 376 110 1 924 772 Gains / (losses) on non-currents assets 593 155 675 227 Impairment of non depreciated/amortized assets ((losses) / reversals) 24 (3 078 879) (542 140) Earnings before interest, taxes and profits in associated companies 99 444 631 83 671 254 Group share of associated companies profits 9 324 835 921 607 Interest and similar income 10 3 042 012 2 312 070 Interest and similar expenses 10 (11 689 175) (11 775 184) Profit before tax 91 122 303 75 129 747 Income tax 11 (20 790 259) (19 762 938) Group profit for the financial year 70 332 044 55 366 809 Attributable to <strong>Secil</strong> shareholders 62 776 790 50 409 007 Attributable to minority interests 12 7 555 254 4 957 802 Earnings per share Basic earnings per share, Eur 13 1,29 1,03 Diluted earnings per share, Eur 13 1,29 1,03
2. Consolidated Balance Sheet CONSOLIDATED BALANCE SHEET AS OF 31 DECEMBER 2008 AND 2007 42 | 43 ANNUAL REPORT SECIL 2008 Amounts in Euro Note 31/12/08 31/12/07 ASSETS Non-Current Assets Goodwill 15 124 152 356 126 901 593 Other intangible assets 16 40 031 139 106 306 Plant, property and equipment 17 436 334 260 441 006 904 Investment properties 18 331 914 347 910 Investment in associates 19 1 102 148 1 146 580 Deferred tax assets 27 14 293 124 18 452 345 Other non-current assets 20 9 313 698 6 270 268 625 558 639 594 231 906 Current Assets Inventories 21 95 308 187 69 803 272 Receivables and other current assets 22 92 502 003 103 840 941 State and other public entities 23 12 857 929 16 904 954 Cash and cash equivalents 30 34 161 810 54 299 595 234 829 929 244 848 762 Total Assets 860 388 568 839 080 668 EQUITY AND LIABILITIES Capital and Reserves Share capital 25 264 600 000 264 600 000 Treasury shares 25 (22 609 745) (22 609 745) Legal reserve and other reserves 26 132 284 953 120 062 442 Translation reserves 26 (72 404 274) (73 104 903) Retained earnings 26 28 549 770 22 919 184 Consolidated net profit for the year 62 776 790 50 409 007 Consolidated Shareholders' equity 393 197 494 362 275 985 Minority interest 13 57 429 062 51 302 437 Total Equity 450 626 556 413 578 422 Non-current liabilities Deferred tax liabilities 27 48 748 942 48 112 658 Pensions and other post-employment benefits 28 23 126 827 28 375 916 Provisions 29 14 733 210 14 395 067 Interest-bearing liabilities 30 89 633 570 121 908 605 Other non-current liabilities 31 2 702 629 2 149 951 178 945 178 214 942 197 Current liabilities Interest-bearing liabilities 30 69 276 110 82 871 687 Payables and other current liabilities 32 123 169 088 91 859 892 State and other public entities 23 38 371 636 35 828 470 230 816 834 210 560 049 Total liabilities 409 762 012 425 502 246 Total equity and liabilities 860 388 568 839 080 668
Page 1 and 2: ANNUAL REPORT 2OO8
Page 3 and 4: Annual Report 2008 2 | 3 ANNUAL REP
Page 5 and 6: Statutory Boards 6 Message from the
Page 7 and 8: General Meeting Board President Hen
Page 9 and 10: To achieve these economic and finan
Page 11 and 12: Leixões-Mar Depot Directors’ Rep
Page 13 and 14: os, broken down into 42 million in
Page 15 and 16: As a fundamental aspect of its sust
Page 17 and 18: MARCH ■ Secil participates in the
Page 19 and 20: (1) Estimates The business environm
Page 21 and 22: 3.2.3. HUMAN RESOURCES Efforts cont
Page 23 and 24: AGGREGATES Major developments inclu
Page 25 and 26: 3.6. MADEIRA The construction secto
Page 27 and 28: 4. TUNISIA 4.1. MACROECONOMIC BACKG
Page 29 and 30: FINANCIAL INDICATORS 4.2.6. PROSPEC
Page 31 and 32: Cement output stood at 989 000 tons
Page 33 and 34: CEMENT Performance was significantl
Page 35 and 36: 7.3. AGGREGATES The aggregates mark
Page 37 and 38: 10.1. MANAGEMENT OF FINANCIAL RESOU
Page 39 and 40: PROPOSAL FOR APPROPRIATION OF PROFI
Page 41: Landscape recovery in Secil-Outão
Page 45 and 46: 44 | 45 ANNUAL REPORT SECIL 2008 Tr
Page 47 and 48: Holy Trinity Church-Fátima 46 | 47
Page 49 and 50: INDEX TO THE NOTES TO THE CONSOLIDA
Page 51 and 52: full consolidation of this previous
Page 53 and 54: Management determines the classific
Page 55 and 56: 1.18. INTEREST-BEARING LIABILITIES
Page 57 and 58: and services in the ordinary course
Page 59 and 60: tions undertaken by the tax authori
Page 61 and 62: 60 | 61 ANNUAL REPORT SECIL 2008 Co
Page 63 and 64: 62 | 63 ANNUAL REPORT SECIL 2008 Co
Page 65 and 66: 6. REMUNERATION OF MEMBERS OF STATU
Page 67 and 68: 10. NET FINANCE COSTS As of 31 Dece
Page 69 and 70: 12. MINORITY INTERESTS As of 31 Dec
Page 71 and 72: 15. GOODWILL During the years ended
Page 73 and 74: 16. OTHER INTANGIBLE ASSETS The amo
Page 75 and 76: 74 | 75 ANNUAL REPORT SECIL 2008 Bu
Page 77 and 78: The amount of Euros 2,513,131 of fa
Page 79 and 80: As of 31 December 2008 and 2007, ot
Page 81 and 82: Almada Administrative and Tax Court
Page 83 and 84: As deliberated at the General Meeti
Page 85 and 86: 84 | 85 ANNUAL REPORT SECIL 2008 Ex
Page 87 and 88: Unrecognised deferred taxes on tax
Page 89 and 90: 88 | 89 ANNUAL REPORT SECIL 2008 Re
Page 91 and 92: Liabilities for long-term service c
Page 93 and 94:
31/12/08 31/12/07 Autonomous Insura
Page 95 and 96:
94 | 95 ANNUAL REPORT SECIL 2008 31
Page 97 and 98:
Secil Betões e Inertes, S.A., a Gr
Page 99 and 100:
31. OTHER NON-CURRENT LIABILITIES A
Page 101 and 102:
GRANTS - CO 2 EMISSION ALLOWANCES:
Page 103 and 104:
As of 31 December 2008, payables to
Page 105 and 106:
36. ENVIRONMENTAL RELATED EXPENDITU
Page 107 and 108:
40. OTHER COMMITMENTS OF THE GROUP
Page 109 and 110:
43. COMPANIES INCLUDED IN CONSOLIDA
Page 111 and 112:
46.1. CONSOLIDATED BALANCE SHEET AT
Page 113 and 114:
46.2 CONSOLIDATED INCOME STATEMENT
Page 115 and 116:
conditions included in point nº 1
Page 117 and 118:
Common Name: Rue Scientific Name: R
Page 119 and 120:
13% Tunisia 12% Lebanon 10% Angola
Page 121 and 122:
Following are the main economic and
Page 123 and 124:
4. ENVIRONMENTAL PERFORMANCE Cement
Page 125 and 126:
4.1.3 ENERGY EFFICIENCY Similarly t
Page 127 and 128:
75,6% 2006 2007 2008 al rate of inc
Page 129 and 130:
2006 2007 2008 al rate of incorpora
Page 131 and 132:
2007 2008 2004 2005 2006 2007 2008
Page 133 and 134:
Further to this, in the region neig
Page 135 and 136:
Common Name: Butterfly Scientific N
Page 137 and 138:
2.REPORT OF STATUTORY AUDITORS (Fre
Page 139 and 140:
TREASURY STOCK (7,90%) SECIL INTERN
Page 141 and 142:
Common Name: Pimpernel Scientific N
Page 143 and 144:
Edition SECIL - COMPANHIA GERAL DE
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5. - Secil

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