Página 5 - CONSOLIDATED FINANCIAL STATEMENTS AND MANAGEMENT REPORT

8. TANGIBLE FIXED ASSETS 80
9. REAL-ESTATE INVESTMENTS 81
10.INVESTMENTS VALUED USING THE EQUITY METHOD 82
11.NON-CURRENT FINANCIAL INVESTMENTS 83
11.1 Loans and accounts receivable not available for trading 83
11.2.Other non-current financial investments 83
12. INVENTORIES 84
13. TRADE RECEIVABLES 84
14. CURRENT FINANCIAL INVESTMENTS 85
15. CASH AND CASH EQUIVALENTS 85
16. SHAREHOLDERS’ EQUITY 86
16.1.SUBSCRIBED SHARE CAPITAL 86
16.2.PARENT COMPANY RESERVES 86
16.3.EQUITY VALUATION ADJUSTMENTS 87
16.4.TREASURY SHARES 87
16.5. MINORITY INTERESTS 87
17. DEBTS WITH CREDIT INSTITUTIONS 88
18. OTHER NON-CURRENT LIABILITIES 90
19. DERIVATIVE FINANCIAL INSTRUMENTS 91
19.1.Interest rate derivatives 91
19.2. Sensitivity analysis of derivative financial instruments 92
20. SHARE-BASED REMUNERATION SCHEMES 93
21. PROVISIONS FOR LIABILITIES AND CHARGES 94
22. TAX NOTE 95
23. TRADE CREDITORS 99
24. INFORMATION ON DEFERRED PAYMENTS TO SUPPLIERS. THIRD ADDITIONAL PROVISION,
“DUTY TO REPORT” OF ACT 15/2010 OF 5 JULY 99
25. OTHER CURRENT LIABILITIES 100
26. THIRD-PARTY GUARANTEES AND CONTINGENT ASSETS AND LIABILITIES 100
27. INCOME AND EXPENSES 102
27.1.INCOME 102
27.2.FINANCIAL INCOME AND CHANGES IN THE FAIR VALUE OF FINANCIAL INSTRUMENTS 103
27.3.PERSONNEL EXPENSES 102
27.4.OTHER OPERATING EXPENSES 103
27.5.OPERATING LEASES 104
27.6.FINANCIAL EXPENSES AND CHANGES IN FAIR VALUE OF FINANCIAL INSTRUMENTS 105
28.RELATED-PARTY TRANSACTIONS 105
29.INFORMATION BY SEGMENTS 108
29.1.INFORMATION ON MAIN SEGMENTS 109
29.2.INFORMATION ON SECONDARY SEGMENTS 109
30.REMUNERATION AND OTHER STATEMENTS MADE BY THE BOARD OF DIRECTORS AND SENIOR MANAGEMENT 110
30.1.REMUNERATION OF THE BOARD OF DIRECTORS 110
30.2.REMUNERATION OF SENIOR MANAGEMENT 110
30.3.INFORMATION ON CONFLICTS OF INTEREST AMONG DIRECTORS 110
31. SUBSEQUENT DISCLOSURES 112
32. INFORMATION ON ENVIRONMENTAL POLICY 115
33. EXPOSURE TO RISK 115
ANNEX I: SUBSIDIARIES 117
ANNEX II: ASSOCIATED COMPANIES 120
ANNEX III: JOINT VENTURES 120
ANNUAL REPORT OF THE AUDIT COMMITTE 121
INDEX 5