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30 Share capital and reserves

 

The statement of changes in shareholders' equity is shown in section 2.01.05 of these consolidated half-year financial statements.

Share capital
The share capital at 30 June 2012 was 1,115,013,754 Euro units, fully paid in, and represented by 1,115,013,754 ordinary shares with a nominal value of EUR 1 each.

Reserves for treasury shares
The "Reserve for treasury shares" has a negative value of EUR 12,782 thousand; it reflects the number of treasury shares in the portfolio as at 30 June 2012 and is considered a reduction of share capital. The items "Reserve for gains/losses on sale of treasury shares" and "Reserve for treasury shares exceeding nominal value" are recorded among the shareholders' equity reserves for a negative value of EUR 930 thousand and a negative value of EUR 3,207 thousand, respectively. These reserves, established in compliance with the accounting standards of reference, reflect the treasury shares transactions carried out as at 30 June 2012. The change during the period generated losses amounting to EUR 143 thousand.

Reserves
The item "Reserves", equal to EUR 542,889 thousand, includes the following reserves:

  • "legal" for EUR 36,142 thousand,
  • "extraordinary" for EUR 14,170 thousand,
  • "revaluation" for EUR 4,356 thousand,
  • "share premium reserve" for EUR 15,269 thousand,
  • "capital account payments" for EUR 5,400 thousand,
  • "retained earnings" for EUR 52,637 thousand,
  • "share swap surplus" for EUR 42,408 thousand,
  • "IFRS 3 reserve" for EUR 227,008 thousand, deriving from the integrations of Agea Spa, Meta Spa, Geat Distribuzione Gas Spa, Sat Spa, Agea Reti Srl, Con.Ami and Area Assets Spa;
  • "IAS/IFRS reserve" for EUR 143,473 thousand, generated after adoption of international accounting standards;
  • "reserve for dividends received on treasury shares" for EUR 2,026 thousand.

 

Cash Flow-Hedge Reserve
As at 30 June 2012, this reserve had a negative balance of EUR 6,612 thousand following changes determined by fair value valuation of reference derivatives.

Retained profit
The item totals EUR 2,061 thousand.

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