2012 Half year financial report

The item, which mainly includes short-term and on demand bank deposits, is broken down as follows:

In thousands of Euros As of 30 June 2012 As of 31 December
2011
Change
Bank and postal deposits 101,275 151,394 (50,119)
Cash on hand 72 52 20
Securities 5,993 441 5,552
Total 107,340 151,887 (44,547)

The item Securities refers to a deposit agreement of the Indian subsidiary to effectively use temporary liquidity.