(in euro)

ASSETS

Notes

%(**)

31.12.2010

%(**)

31.12.2009

NON-CURRENT ASSETS

1.040.482.201

1.012.090.877

INTANGIBLE ASSETS

(4.a)

230.753

213.639

TANGIBLE ASSETS

(4.b)

2.865.389

3.018.487

INVESTMENT PROPERTY

(4.c)

17.542.778

18.114.599

EQUITY INVESTMENTS

(4.d)

918.632.223

856.680.271

SUNDRY RECEIVABLES

(4.e)

101.211.058

133.296.990

    of which with related parties (*)

 101.188.090

100,0

 133.272.790

100,0

DEFERRED TAXES

(4.f)

--

766.891

CURRENT ASSETS

250.539.877

307.202.505

SUNDRY RECEIVABLES

(5.a)

18.249.799

31.587.092

    of which with related parties (*)

(5.a)

10.075.867

55,2

1.155.601

3,7

--

FINANCIAL RECEIVABLES

(5.b)

--

1.418.000

SECURITIES

(5.c)

60.674.692

101.584.046

CASH & CASH EQUIVALENTS

(5.d)

171.615.386

172.613.367

TOTAL ASSETS

1.291.022.078

1.319.293.382

LIABILITIES AND SHAREHOLDERS' EQUITY

%(**)

31.12.2010

%(**)

31.12.2009

SHAREHOLDERS' EQUITY

968.540.558

978.905.531

ISSUED CAPITAL

396.058.634

396.058.634

less OWN SHARES

(21.537.000)

(21.537.000)

SHARE CAPITAL

(6.a)

374.521.634

374.521.634

RESERVES

(6.b)

348.901.164

352.032.278

RETAINED EARNINGS / (LOSSES)

(6.c)

259.833.508

254.341.399

RESULT FOR THE YEAR

(14.715.748)

(1.989.780)

NON-CURRENT LIABILITIES

298.949.593

297.733.880

BONDS AND NOTES

(7.a)

297.404.251

296.168.462

PERSONNEL PROVISIONS

(7.b)

1.545.342

1.565.418

CURRENT LIABILITIES

23.531.927

42.653.971

BANK OVERDRAFTS

68

--

OTHER PAYABLES

(8.a)

9.792.512

28.513.339

    of which with related parties (*)

(8.a)

5.002.177

51,1

12.961.083

45,5

PROVISIONS FOR RISKS AND LOSSES

(8.b)

13.739.347

14.140.632

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

1.291.022.078

1.319.293.382