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Financial Statements

Deferred tax assets & liabilities 2010 2009

Deferred tax assets: (176,567,654) (211,039,994)
(29,675,208) (23,421,241)
Deferred tax assets to be recovered
after more than 12 months (234,461,235)
Deferred tax assets to be recovered within 12 months
237,509,634
Total deferred tax assets (206,242,862) 18,935,519

Deferred tax liabilities: 256,445,153
21,983,917
Deferred tax liabilities to be settled 222,411,998
after more than 12 months

Deferred tax liabilities to be settled within 12 months 17,800,567

Total deferred tax liabilities 240,212,565

Deferred tax liabilities (net) 33,969,703

The gross movement on the deferred income tax account is as follows:

2010 2009

As at 1 January 21,983,917 9,301,190
Income statement charge 11,985,786 12,789,265
Tax charged/debited directly to equity
0 (106,538)

As at 31 December 33,969,703 21,983,917

The movement in deferred income tax assets and liabilities during the year, without taking into consideration the
offsetting of balances within the same tax jurisdiction, is as follows:

Financial Statements as at 31 December 2010 (Amounts in Euros unless otherwise stated) Page 43 of 51