logo di stampa inglese
 
« back

15 Tangible fixed assets

 
 30-Jun-2012of which assets owned through finance lease contracts 31-Dec-2011of which assets owned through finance lease contractsChanges
Land and buildings 398,73610,574398,86011,113(124)
Generic and specific plant and machinery 1,222,8492,9921,227,1844,939(4,335)
Other moveable assets106,0789,645109,97115,267(3,893)
Work in progress and advance payments167,028 148,461 18,567
Total1,894,69123,2111,884,47631,31910,215

Tangible fixed assets are disclosed net of accumulated amortisation. Their composition and changes in the period are as follows:

Thousands of euroLand and buildingsPlants and machineryOther moveable assetsWork in progressTotal tangible fixed assets
PURCHASE COST     
Balance as at 31.12.2010438,9721,754,232351,161211,5782,755,943
Increases8078,4477,11147,60963,974
Disinvestments                        -( 1,366)( 3,940)( 71)( 5,377)
Changes in scope of consolidation6,83521,009698                      -28,542
Restatements and other changes1,1378,0242,514( 17,447)( 5,772)
Balance as at 30.06.2011447,7511,790,346357,544241,6692,837,310
ACCUMULATED DEPRECIATION      
Balance as at 31.12.201070,279608,902236,530                      -915,711
Depreciation for the period4,72643,35813,177                      -61,261
Disinvestments                        -( 764)( 3,754)                      -( 4,518)
Changes in scope of consolidation108304175                      -587
Restatements and other changes27( 5,956)( 747)                      -( 6,676)
Balance as at 30.06.201175,140645,844245,381                      -966,365
NET VALUE     
As at 31 December 2010368,6931,145,330114,631211,5781,840,232
As at 30 June 2011372,6111,144,502112,163241,6691,870,945
      
PURCHASE COST     
Balance as at 31.12.2011477,7121,918,710357,547148,4592,902,428
Increases3,6377,1248,37640,87260,009
Disinvestments( 8,356)( 4,598)( 4,094)( 1,207)( 18,255)
Changes in scope of consolidation2,24014,4127              5,16621,825
Restatements and other changes6,71323,143851( 26,262)4,445
Balance as at 30.06.2012481,9461,958,791362,687167,0282,970,452
ACCUMULATED DEPRECIATION     
Balance as at 31.12.201178,852691,525247,575                      -1,017,952
Increases5,68947,19112,874                      -65,754
Disinvestments( 1,523)( 2,699)( 3,947)                      -( 8,169)
Changes in scope of consolidation                        -3812                      -383
Restatements and other changes192( 456)105                      -( 159)
Balance as at 30.06.201283,210735,942256,609                      -1,075,761
NET VALUE     
As at 31 December 2011398,8601,227,185109,972148,4591,884,476
As at 30 June 2012398,7361,222,849106,078167,0281,894,691

The breakdown and main changes within each category are commented on below.

"Land and buildings", totalling EUR 398,736 thousand, consist of EUR 320,252 thousand in buildings and EUR 78,484 thousand in land. In relation to land, these are mainly company-owned properties on which the majority of the sites and production plants stand. The increase is mainly due to the completion of the building works of the Cogeneration Plant in Imola.

Item "Plants and machinery", amounting to EUR 1,222,849 thousand (of which special plants for EUR 522,976 thousand, large specific plants for EUR 580,331 thousand and general plants for EUR 119,542 thousand), is mainly made of distribution grids and networks and plants related to businesses not falling within the scope of the concession system. They are mainly: district heating, electricity in the Modena area, waste disposal, waste treatment, purification and composting, material recovery and chemical-physical treatment, anaerobic digesters, and special waste treatment plants. The increase in the period mainly reflects the extension of the district heating and cogeneration networks in certain areas of Bologna and Imola, the completion and normalisation of drop-off points, the increase in size of active landfills carried out on the Group's installed park. The decreases also include the disposal of electricity meters.

Item "Other moveable assets", equal to EUR 106,078 thousand (of which EUR 69,182 thousand for equipment, EUR 6,664 thousand for electronic machines, EUR 4,673 thousand for furniture and fittings, EUR 24,612 thousand for vehicles and EUR 947 thousand for cars), includes equipment, waste disposal bins, furniture, electronic machines, motor vehicles and motor cars, including the public works vehicles at the plants for handling and compacting the waste. De-vestments mainly concerned waste disposal bins and motor vehicles.

"Work in progress and advance payments", equal to EUR 167,028 thousand, mainly consist of investments carried out for the development of district heating, electricity distribution and extraordinary maintenance work on structural properties and waste-to-energy plants. Other significant works included the "Disidrat new" sludge treatment plant in Ravenna, the "Digest dry" plants at the Rimini and Lugo (Ra) composting sites, the new CIC slag recovery plant in Modena, plus revamping works on the 3rd line of the waste-to-energy plant in Modena.

The amounts indicated in the item "Change in the scope of consolidation", amounting to a net value of EUR 21,442 thousand, relate principally to:

  • EUR 12,596 thousand related to photovoltaic plants located in Copparo (Fe), Alfianello (Bs), Petriolo (Mc) and Faenza (Ra), following the merger of the companies Amon Srl, Esole Srl, Juwi Sviluppo Italia - 02 Srl and CTG Ra Srl into Hera Energie Rinnovabili Spa.
  • EUR 8,846 thousand related to plants connected with the landfill of Finale Emilia (Mo), acquired in relation to the control gained of the company Feronia Srl.

 

For a more accurate analysis of investments in the period, please see the Directors' Report, paragraph 1.03.01.

« back