151
149 CONSOLIDATED FINANCIAL
STATEMENTS
AND EXPLANATORY NOTES
152 Consolidated statement of financial
position
153 Consolidated income statement
154 Consolidated statement
of comprehensive income
155 Consolidated statement of changes
in equity
156 Consolidated statement of cash flows
158
Explanatory notes
158 A. General information
160 B. Accounting policies and standards
182 C. Financial risk management
192 D. Estimates and assumptions
194 E. Business combinations
196 F. Segment information
201 1. Property, plant and equipment
203 2. Intangible assets
205 3. Investments in associates
207 4. Available-for-sale financial assets
209 5. Trade and other receivables
213 6. Inventories
213 7. Financial assets held for trading
214 8. Derivatives
215 9. Cash and cash equivalents
216 10. Assets held for sale
217 11. Share capital and reserves
219 12. Borrowings from banks and other
lenders
225 13. Trade and other payables
227 14. Provisions for risks and charges
229 15. Employee benefit obligations
234 16. Deferred taxes
235 17. Sales of goods and services
235 18. Change in inventories of work
in progress, semfinished and finished
goods
236 19. Other income
236 20. Raw materials, consumables used
and goods for resale
237 21. Personnel costs
240 22. Amortisation, depreciation
and impairment
240 23. Other expenses
7 DIRECTORS’ REPORT
267 PARENT COMPANY DIRECTORS’
REPORT
241 24. Finance costs
241 25. Finance income
242 26. Share of income from investments
in associates and dividends from
other companies
242 27. Taxes
243 28. Earnings/(loss) and dividends
per share
243 29. Contingent liabilities
244 30. Commitments
244 31. Receivables factoring
244 32. Financial covenants
246 33. Related party transactions
247 34. Compensation of directors
and statutory auditors
247 35. Atypical and/or unusual
transactions
248 36. Significant non-recurring events
and transactions
249 37. Statement of cash flows
250 38. Information pursuant to
art.149 -Duodecies of the consob
issuer regulations
250 39. Subsequent events
252 Scope of consolidation - Appendix A
260 List of investments pursuant to art. 126
Of consob regulation 11971
261 Certification of the consolidated
financial statements pursuant to
art. 81-Ter of consob regulation
11971 dated 14 May 1999
and subsequent amendments
and additions
263 AUDIT REPORT
CONSOLIDATED FINANCIAL STATEMENTS
289 PARENT COMPANY FINANCIAL
STATEMENTS AND
EXPLANATORY NOTES
347 AUDIT REPORT
351 REPORT BY THE BOARD
OF STATUTORY AUDITORS
