The net financial position, in accordance with the terms of Consob resolution no. 6064293 of July 28 2006, can be broken down as follows:
|
(in thousands of euro) |
31.12.2010 |
|
31.12.2009 |
|
|
A. |
Cash and bank deposits |
593,081 |
|
549,321 |
|
B. |
Other free cash flow |
144,244 |
|
104,967 |
|
C. |
Securities held for trading |
216,552 |
|
278,548 |
|
D. |
Cash and cash equivalents (A) + (B) + (C) |
953,877 |
|
932,836 |
|
E. |
Current financial receivables |
399,064 |
|
27,229 |
|
F. |
Current bank borrowings |
(*) (244,579) |
|
(157,506) |
|
G. |
Bonds and notes issued |
(157,978) |
|
(731) |
|
H. |
Current part of non-current debt |
(398,584) |
|
(41,281) |
|
I. |
Other current borrowings |
(2) |
|
(2) |
|
J. |
Current financial debt (F) + (G) + (H) + (I) |
(801,143) |
|
(199,520) |
|
K. |
Net current financial position (J) + (E) + (D) |
551,798 |
|
760,545 |
|
L. |
Non-current bank borrowings |
(**) (1,994,968) |
|
(1,676,126) |
|
M. |
Bonds and notes issued |
(547,455) |
|
(718,262) |
|
N. |
Other non-current borrowings |
(**) (176,148) |
|
(167,233) |
|
O. |
Non-current financial debt (L) + (M) + (N) |
(2,718,571) |
|
(2,561,621) |
|
P. |
Net financial position (K) + (O) |
(2,166,773) |
|
(1,801,076) |
(*) The amount of € 70,908 thousand (€ 244,579 - € 173,671) is classified in the Balance Sheet in the item “Other borrowings”.
(**) Classified under the item “Other borrowings” – Non-current liabilities