Consolidated Financial Statements >
CONSOLIDATED FINANCIAL STATEMENTS AND EXPLANATORY NOTES
210
| 2012 annual report prysmian group
The value of trade receivables past due but not impaired is
Euro 127 million at 31 December 2012 (Euro 37 million at 31
December 2011). These receivables mainly relate to customers
The value of trade receivables not past due is Euro 857 million
at 31 December 2012 (Euro 908 million at 31 December 2011).
There are no particular problems with the quality of these
in the Energy segment, which have been insured against the
risk of any bad debts arising from effective or legal customer
insolvency.
receivables and there are no material amounts that would
otherwise be past due if their original due dates had not been
renegotiated.
Trade receivables
The Prysmian Group securitizes a significant part of its trade
receivables under a programme started in 2007, in accordance
with the procedures described in Section B.2 which require
the Group to continue to recognise the securitized receivables
until such time as they are collected. Securitized receivables
amount to Euro 155 million gross at 31 December 2012 (Euro
215 million at 31 December 2011), and have resulted in the
drawdown of Euro 75 million in credit lines by Prysmian
Financial Services Ireland Ltd (Euro 111 million in credit lines
were drawn down in 2011). These receivables are under a lien
in favour of third-party lenders.
The gross amount of past due impaired receivables is Euro
242 million at 31 December 2012 (Euro 319 million at 31
December 2011).
The ageing of past due impaired receivables is as follows:
The ageing of receivables that are past due but not impaired is as follows:
(in millions of Euro)
31 December 2012
31 December 2011
past due between 1 and 30 days
114
164
past due between 31 and 90 days
45
51
past due between 91 and 180 days
23
36
past due between 181 and 365 days
17
23
past due more than 365 days
43
45
Total
242
319
(in millions of Euro)
31 December 2012
31 December 2011
past due between 1 and 30 days
104
23
past due between 31 and 90 days
11
9
past due between 91 and 180 days
3
2
past due between 181 and 365 days
6
1
past due more than 365 days
3
2
Total
127
37
