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16 Tangible fixed assets

 
 31-Dec-201031-Dec-2009Changes
Land and buildings368,693315,05053,643
General plant and machinery1,145,330974,679170,650
Other moveable assets114,631116,749-2,118
Work in progress and advance payments211,578358,747-147,168
Total1,840,2321,765,22575,007

Tangible assets are stated net of their accumulated depreciation and are broken down below with details of the changes during the year:

  Land and buildingsPlant and machineryOther moveable assetsInvestments in progressTotal tangible fixed assets
Purchase cost      
Balance as at31/12/2009          373,510           1,514,162          336,311         358,747           2,582,730
       
Increases             15,766               56,371            22,500         101,984              196,621
Disinvestments (9,752)(2,929)(18,238)(2,726)(33,645)
Change in scope of consolidation                   5,473             1,359                   6,832
Other changes             59,448              181,155             9,229(246,427)                  3,405
Balance as at31/12/2010          438,972           1,754,232          351,161         211,578           2,755,943
Accumulated depreciation      
Balance as at31/12/2009            58,460              539,483          219,562               817,505
       
Depreciation for the year               8,851               84,356            26,930               120,137
Disinvestments (2,497)(1,332)(13,767) ( 17,596)
Change in scope of consolidation                   1,537                900                   2,437
Other changes               5,465(15,142)             2,905 (6,772)
Balance as at31/12/2010            70,279              608,902          236,530               915,711
       
Net value      
Balance as at31/12/2009          315,050              974,679          116,749         358,747           1,765,225
Balance as at31/12/2010          368,693           1,145,330          114,631         211,578           1,840,232

For a better understanding of the table above and hereunder, it should be noted that figures as at 31 December 2009, related to items "Land and buildings" and "Plants and machinery" were restated:

  • among the intangible assets, under the item "Concessions", for a total of Euro 1,491,478 thousand in order to reflect application of the IFRIC 12 interpretation
  • among the tangible fixed assets, under the item "Work in progress", for Euro 991 thousand relative to works executed but not yet completed for the construction of plants and other works amongst companies working within the Group.

"Land and buildings", totalling Euro 368,693 thousand, consist of Euro 285,421 thousand in buildings and Euro 83,272 thousand in land. These are mainly company-owned properties on which the majority of the sites and production plants of the Group stand. The increases comprise the extraordinary maintenance works carried out at the company headquarters in Bologna on Viale Berti Pichat and in Modena on Via Razzaboni, execution of the building works on the Cogeneration Plant in Imola, purchase of land earmarked for landfills from the Municipality of Ravenna, and building works on the 4th line of the waste-to-energy plant in Modena. Of the reductions, what is mostly worthy of note is the disposal of the real estate complex in Sassuolo in Via Brigata Folgore and the real estate complex in Bologna in Via Ranzani (warehouses, stores, fuel pump, etc.).

"Plants and machinery", totalling Euro 1,145,329 thousand as at 31 December 2010, mainly consist of the distribution networks and plants regarding the businesses not falling under the IFRIC 12 public concession system. They are mainly: district heating, electricity in the Modena area, waste disposal, waste treatment, purification and composting, material recovery and chemical-physical treatment, anaerobic digesters, and special waste treatment plants. The increase of the year for the most part reflects the operational start-up of the Cogeneration Plant in Imola on Via Casalegno, execution of the 4th WTE line in Modena, the works completing the 3rd WTE line in Forl and extraordinary maintenance works carried out on the WTE plant in Bologna. Lastly, several expansion works of the landfills are to be pointed out, including the putting on-stream of the new 5th sector at the 1C landfill in Ravenna and the third lot at the "Tre Monti" landfill in Imola. The decreases also include the disposal of electricity meters and of some company’s assets which were damaged by fire.

"Other moveable assets", equal to Euro 114,632 thousand, include the equipment, waste disposal bins, furniture, electronic machines, motor vehicles and motor cars, including the public works vehicles at the plants for handling and compacting the waste. Of the increases of the year, what are to be particularly highlighted are the purchases of electronic machines as a result of the "E-Gate" activities concerning the separate waste collection in the Rimini area (waste disposal bins and electronic keys to be more precise) and other equipment, whereas disposals mostly regarded waste disposal bins and motor cars, primarily referring to the waste management sector.

"Work in progress and advance payments", equal to Euro 211,578 thousand, mainly consist of the costs borne for developing district heating and electricity distribution in the Modena area, extraordinary maintenance work on structural properties and waste-to-energy plants still not completed as at 31 December 2010 (the WTE plant in Rimini, revamping of the 3d WTE line in Modena and the Forl Cesena WTE plant). Other significant interventions under execution regard the new "Disidrat" sludge treatment plant in Ravenna. The 4th waste-to-energy line in Modena came on-stream during 2010, for which the appropriate reclassifications were applied from "work in progress and advance payment" to the items "land and buildings" and "plants and machinery".

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