Consolidated Financial Statements and Management Report - page 4

4 INDEX
INDEX
INDEPENDENT AUDITORS’ REPORT ON CONSOLIDATED FINANCIAL STATEMENTS 6
CONSOLIDATED MANAGEMENT REPORT 8
ANNUAL CORPORATE GOVERNANCE REPORT 16
CONSOLIDATED BALANCE SHEETS 58
CONSOLIDATED comprehensive profit and loss staTEments 60
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY 61
CONSOLIDATED CASH FLOW STATEMENTS 62
REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
1. ACTIVITY AND COMPOSITION OF THE PARENT COMPANY 63
2. BASIS OF PRESENTATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND CONSOLIDATION PRINCIPLES 63
2.1. Basis of Presentation of the Financial Statements 63
2.2. Information on 2013 65
2.3. Currency of Presentation 65
2.4. Responsibility for the Information, Estimates Made and Sources of Uncertainty 65
2.5. Consolidation Principles Applied 66
3. DISTRIBUTION OF PROFITS 68
4. VALUATION STANDARDS 68
4.1. Tangible Fixed Assets 68
4.2. Consolidation Goodwill 69
4.3. Intangible Assets 69
4.4. Impairment in the Value of Tangible and Intangible Assets Excluding Goodwill 69
4.5. Lease Rentals 70
4.6. Financial Instruments 70
4.7. Non-Current Assets and Associated Liabilities Held for Sale and Discontinued Operations 72
4.8. Investments in Associates 72
4.9. Inventories 72
4.10. Foreign Currency Transactions and Balances 73
4.11. Classification of Financial Assets and Debts into Current and Non-Current 73
4.12. Income and Expenses 73
4.13. Official Subsidies 73
4.14. Corporate Income Tax 73
4.15. Obligations to Employees 74
4.16. Onerous Contracts 74
4.17. Share-Based Remuneration Schemes 74
4.18. Treasury Shares 74
4.19. Provisions 74
4.20. Termination Benefits 74
4.21. Business Combinations 75
4.22. Environmental Policy 75
4.23. Consolidated Cash Flow Statements 75
5. EARNINGS PER SHARE 75
6. GOODWILL 75
7. INTANGIBLE ASSETS 77
7.1. Rights of Usufruct 77
7.2. Software Applications 77
8. PROPERTY, PLANT & EQUIPMENT 78
9. NON-CURRENT ASSETS HELD FOR SALE, LIABILITIES LINKED TO NON-CURRENT ASSETS HELD
FOR SALE AND DISCONTINUED OPERATIONS 79