2012 Half year financial report

Corporate structure

corporate_structure_1.png

 

 

During the period, the company structure of the Group did not change.

On 11 April 2012, following award of the competitive tender pursuant to article 105-107 of the Italian Bankruptcy Law, Piaggio & C. signed a contract of purchase for the company site “Tecnocontrol” situated in Pontedera, for a total value of 11,323,000 Euro.

With the acquisition of Tecnocontrol, Piaggio & C. now has its own aluminium engine components processing procedure.

The effect on the statement of financial position of Piaggio & C. is as follows:

Production buildings + 2,113,000.00 Euro

Operating goods + 7,666,061.81 Euro

Consumables + 1,543,938.19 Eur

In this regard, the acquisition has not resulted in the recognition of goodwill or potential liabilities, since the adoption of IFRS 3 revised.

On 1 July 2012, the company incorporated under Dutch law, Aprilia World Service BV, was merged by incorporation with the company Piaggio Vespa BV, also incorporated under Dutch law, wholly owned by Piaggio & C. S.p.A..