2012 Half year financial report

In thousands of Euros Notes As of 30 June 2012 As of 31 December 2011 Change
         
Liquidity 27 107,340 151,887 (44,547)
         
Securities 26     0
Current financial receivables   0
 0  0
     
Payables due to banks  30 (40,985) (22,949) (18,036)
Current portion of bank financing 30 (44,977) (122,428) 77,451
Amounts due to factoring companies 30 (32,826) (20,085) (12,741)
Amounts due under leases 30 (915) (894) (21)
Current portion of payables due to other lenders 30 (3,876) (3,905) 29
Current financial debt   (123,579) (170,261) 46,682
         
Net current financial debt    (16,239) (18,374) 2,135
         
Payables due to banks and financing institutions 30 (163,584) (112,768) (50,816)
Debenture loan 30 (192,708) (191,859) (849)
Amounts due under leases 30 (6,282) (6,745) 463
Amounts due to other lenders 30 (5,191) (6,153) 962
Non-current financial debt  (367,765) (317,525) (50,240)
         
Net financial debt
  (384,004) (335,899) (48,105)
 

* Pursuant to Consob Communication of 28 July 2006 and in compliance with the recommendation of the CESR of 10 February 2005 “Recommendation for the consistent implementation of the European Commission’s Regulation on Prospectuses“. The indicator does not include financial assets and liabilities arising from the fair value measurement of financial derivatives used as hedging, the fair value adjustment of relative hedged items equal to €/000 15,270 and relative accruals (see note 30 of the Notes).

This table reconciles the movement in the flow of the net financial position with cash and cash equivalent movements as shown in the cash flow statement.

In thousands of Euros  
Increase/decrease in cash and cash equivalents from the consolidated statement of cash flow (46,312)
Outflow for repayment of loans 94,110
Repayment of finance leases 442
Loans received (97,670)
Amortised cost on medium-/long-term financing 2,007
Loans on leases received  
Repayment of loans provided  
Purchase of financial assets  
Sale of financial assets  
Exchange differences (682)
Change in Consolidated Net Debt (48,105)