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Financial Statements
CONTENTS PAGE
INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2010 12
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2010 13
BALANCE SHEET AS AT 31 DECEMBER 2010 14
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2010 15
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2010 16
NOTES TO THE FINANCIAL STATEMENTS 17
1 Incorporation & activities of the Company 17
2 Significant accounting policies 17
3 Financial risk management 26
4 Critical accounting estimates and judgements 30
4.1 Critical accounting estimates and assumptions 30
4.2 Critical judgements in applying the entity’s accounting policies 31
5 Notes to the financial statements 31
5.1 Operating revenues 31
5.2 Depreciation & amortisation charges 32
5.3 Net financial expenses 32
5.4 Subsidies received 32
5.5 Income tax expense 33
5.6 Basic earnings per share 33
5.7 Property plant & equipment-owned assets 35
5.8 Property, plant & equipment-leased assets 36
5.9 Intangible assets 37
5.10 Other non-current assets 38
5.11 Inventories 38
5.12 Construction works in progress 38
5.13 Trade receivables 38
5.14 Other receivables 39
5.15 Cash and cash equivalents 39
5.16 Share capital 39
5.17 Statutory & other reserves 39
5.18 Retained earnings 40
5.19 Bank loans 40
5.20 Employee retirement benefits 40
5.21 Provisions 42
5.22 Income & deferred tax liabilities 42
5.23 Other non-current liabilities 44
5.24 Trade & other payables 45
5.25 Other current liabilities 46
5.26 Operating lease arrangements 46
5.27 Commitments 46
5.28 Contingent liabilities 47
5.29 Related parties transactions 48
5.30 Events after the balance sheet date 49
Financial Statements as at 31 December 2010 (Amounts in Euros unless otherwise stated) Page 11 of 51
CONTENTS PAGE
INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2010 12
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2010 13
BALANCE SHEET AS AT 31 DECEMBER 2010 14
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2010 15
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2010 16
NOTES TO THE FINANCIAL STATEMENTS 17
1 Incorporation & activities of the Company 17
2 Significant accounting policies 17
3 Financial risk management 26
4 Critical accounting estimates and judgements 30
4.1 Critical accounting estimates and assumptions 30
4.2 Critical judgements in applying the entity’s accounting policies 31
5 Notes to the financial statements 31
5.1 Operating revenues 31
5.2 Depreciation & amortisation charges 32
5.3 Net financial expenses 32
5.4 Subsidies received 32
5.5 Income tax expense 33
5.6 Basic earnings per share 33
5.7 Property plant & equipment-owned assets 35
5.8 Property, plant & equipment-leased assets 36
5.9 Intangible assets 37
5.10 Other non-current assets 38
5.11 Inventories 38
5.12 Construction works in progress 38
5.13 Trade receivables 38
5.14 Other receivables 39
5.15 Cash and cash equivalents 39
5.16 Share capital 39
5.17 Statutory & other reserves 39
5.18 Retained earnings 40
5.19 Bank loans 40
5.20 Employee retirement benefits 40
5.21 Provisions 42
5.22 Income & deferred tax liabilities 42
5.23 Other non-current liabilities 44
5.24 Trade & other payables 45
5.25 Other current liabilities 46
5.26 Operating lease arrangements 46
5.27 Commitments 46
5.28 Contingent liabilities 47
5.29 Related parties transactions 48
5.30 Events after the balance sheet date 49
Financial Statements as at 31 December 2010 (Amounts in Euros unless otherwise stated) Page 11 of 51
