PARENT COMPANY >
FINANCIAL STATEMENTS AND EXPLANATORY NOTES
336
| 2012 annual report prysmian group
The Company has the following types of commitments at 31
December 2012:
(a) Commitments to purchase property, plant and equipment
and intangible assets.
Contractual commitments, already given to third parties
at 31 December 2012 and not yet reflected in the financial
statements, amount to Euro 1,228 thousand (Euro 480
thousand at 31 December 2011), of which Euro 446 thousand in
relation to the SAP Consolidation project (Euro 42 thousand at
31 December 2011).
(b) Operating lease commitments.
Future commitments relating to outstanding operating leases
at 31 December 2012 are as follow:
(c) Comfort letters in support of bank guarantees given to
Group companies.
Comfort letters in support of bank guarantees given in the
interest of Group companies amount to Euro 68 thousand
(the same as at 31 December 2011), all of which relating to P.T.
Prysmian Cables Indonesia.
(d) Other guarantees given in the interest of Group
companies for Euro 946,757 thousand (Euro 107,704
thousand at 31 December 2011), detailed as follows:
The comfort letters and guarantees given in the interest of
Group companies in (c) and (d) mainly refer to projects and
supply contracts and to the offsetting of VAT credits under the
Group VAT settlement. The increase is mainly attributable to
the guarantee issued to the subsidiary Prysmian PowerLink
S.r.l. for the Western HVDC Link project.
(e) Comfort letters in support of bank guarantees given in the
interest of the Company for Euro 2,440 thousand, compared
with Euro 420 thousand in the prior year.
As required by art. 2427 point 22-ter, it is reported that,
in addition to the above disclosures about commitments,
there are no other agreements that are not reflected in the
statement of financial position that carry significant risks or
benefits and which are critical for assessing the Company’s
assets and liabilities, financial position and results of
operations.
22. COMMITMENTS
(in thousands of Euro)
2012
2011
Due within 1 year
4,339
4,830
Due between 1 and 5 years
3,575
6,727
Due after more than 5 years
-
-
Total
7,914
11,557
(in thousands of Euro)
2012
2011
Prysmian Cavi e Sistemi S.r.l.
65,114
52,996
Prysmian Cables and Systems B.V.
42,804
27,637
Prysmian PowerLink S.r.l.
809,102
-
Prysmian Cables & Systems Limited
24,262
23,704
Prysmian Kabel und Systeme GmbH
271
314
F.O.S. - Fibre Ottiche Sud S.r.l.
5,204
3,053
Total
946,757
107,704
