14MB - Pirelli

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Assets by geographical area, allocated on the basis of the country in which the assets are located, are as follows: (in thousands of euros) 12/31/2008 12/31/2007 Europe - Italy 2,438,070 35.16% 2,253,776 25.17% - Other European countries 1,170,704 16.89% 1,216,412 13.59% North America 142,676 2.06% 124,665 1.39% Central and South America 788,841 11.38% 816,790 9.12% Oceania, Africa and Asia 518,837 7.48% 491,556 5.49% Total allocated assets 5,059,128 72.97% 4,903,199 54.76% Unallocated assets 1,874,090 27.03% 4,050,041 45.24% 6,933,218 100.00% 8,953,240 100.00% Capital expenditures by geographical area, allocated on the basis of the country in which the factories are located, are as follows. (in thousands of euros) 12/31/2008 12/31/2007 Europe - Italy 45,960 14.79% 43,530 15.18% - Other European countries 121,585 39.13% 134,910 47.05% North America 4,205 1.35% 2,746 0.97% Central and South America 68,163 21.94% 40,607 14.16% Oceania, Africa and Asia 70,811 22.79% 64,916 22.64% 310,724 100.00% 286,709 100.00% ANNUAL FINANCIAL REPORT 2008 347
EXTRAORDINARY SESSION CONSOLIDATED FINANCIAL STATEMENT SUSTAINABILITY REPORT DIRECTORS' REPORT PRELIMINARY INFORMATION 8. Property, plant and equipment At December 31, 2008, the composition and movements in property, plant and equipment are as follows: (in thousands of euros) 348 PIRELLI & C. S.p.A. MILAN Gross carrying amount 12/31/2008 12/31/2007 Accumulated depreciation Net carrying amount Gross carrying amount Accumulated depreciation Net carrying amount Land 83,456 - 83,456 83,511 - 83,511 Buildings 625,712 (296,474) 329,238 658,310 (301,584) 356,726 Plant and machinery 2,549,392 (1,537,876) 1,011,516 2,652,755 (1,624,730) 1,028,025 Industrial and commercial equipment 525,374 (410,590) 114,784 574,675 (448,876) 125,799 Other property, plant and equipment 226,136 (167,084) 59,052 236,540 (180,116) 56,424 4,010,070 (2,412,024) 1,598,046 4,205,791 (2,555,306) 1,650,485 MOVEMENTS IN GROSS CARRYING AMOUNT (in thousands of euros) 12/31/2007 Discontinued operations Exchange differences Increase Decrease Reclass. Other 12/31/2008 Land 83,511 - (7,077) 8,910 (4,496) 2,608 - 83,456 Buildings 658,310 (7,679) (42,084) 26,014 (11,975) 3,119 7 625,712 Plant and machinery 2,652,755 (28,166) (237,116) 205,862 (29,232) (12,706) (2,005) 2,549,392 Industrial and commercial equipment 574,675 (25,151) (54,071) 37,938 (17,501) 9,180 304 525,374 Other property, plant and equipment 236,540 (12,031) (16,265) 32,000 (13,135) (2,201) 1,228 226,136 4.205.791 (73.027) (356.613) 310.724 (76.339) - (466) 4.010.070 MOVEMENTS IN ACCUMULATED DEPRECIATION (in thousands of euros) 12/31/2007 Discontinued operations Exchange difference Reclass. Decrease Depreciation Other 12/31/2008 Land (301,584) 4,324 20,123 - 2,497 (21,041) (793) (296,474) Plant and machinery (1,624,730) 10,952 170,495 7,430 19,798 (122,152) 332 (1,537,876) Industrial and commercial equipment (448,876) 18,233 46,490 37 16,236 (41,187) (1,523) (410,590) Other property, plant and equipment (180,116) 9,235 13,925 (7,467) 11,345 (14,362) 356 (167,084) (2,555,306) 42,744 251,033 - 49,875 (198,742) (1,628) (2,412,024)
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Pirelli & C. S.p.A. — Milan Annua
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EXTRAORDINARY SESSION CONSOLIDATED
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Directors' report
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Directors' report on operations Sha
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Significant events in 2008 With reg
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Turin and the Pirelli Group sealed
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Yanzhou, China - Mixing department
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The Group ALTERNATIVE PERFORMANCE M
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GROUP CONSOLIDATION The highlights
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A percentage breakdown of the chang
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The change can be summarized as fol
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CAPITAL EXPENDITURES Capital expend
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Thirty years after, the Pirelli Cin
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On the other hand, the Sottozero Se
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Information systems The Information
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Pirelli Real Estate The information
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Risks and uncertainties The current
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This is accomplished by negotiating
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sustainability. A gradual introduct
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ued focus on higher-end product seg
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Instead, Pirelli Tyre has kept its
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ticipating in the championship. In
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and Turkey and the start-up of proj
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Pirelli & C. Real Estate The consol
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Assets under management have a mark
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Balance sheet and financial review
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NON-PERFORMING LOANS Collections on
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NET RESULT The net result is income
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nology) lines; 3) Innovation with t
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start-up of the factory in Romania
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Pirelli & C. S.p.A. Summary of sele
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The reason for the reclassification
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—— details of income (expenses)
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Equity investments held by Director
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Compliance with Article 36 of Conso
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Appointment of the board of statuto
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Article 16 of the bylaws The Board
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ANNUAL FINANCIAL REPORT 2008 83
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Stock Exchange Regulations: indicat
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Savings shares do not have voting r
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e) Employee shareholdings: mechanis
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ers of convertible bonds, for a max
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The composition of the Board of Dir
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When the Board of Directors is due
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Remuneration of the directors veste
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more than 10 million euros (in the
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d) if they receive, or have receive
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8. APPOINTMENTS COMMITTEE The Board
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11. The Committee for Internal Cont
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The internal control officer also r
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12.3. Organisational model ex Legis
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and the set of businesses included
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after the expiry of the date for th
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members of the Board of Statutory A
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ensure orderly discussion and votin
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and cadres employed by the Company,
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priate measures to ensure the order
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with the title of Managing Director
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ing to the regulations issued by Co
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Telecom Italia S.p.A. Telecom Itali
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6. Bodies governing the agreement,
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ANNEX E - General Criteria for the
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— the general results of operatio
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9. Direction and coordination activ
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ANNEX G - Rules of conduct for effe
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mation “in the making,” so as t
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6.3 - Inside information must also
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8.6 — The definition of “roles
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— with the markets closed or in t
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ANNEX A Notices to be sent to perso
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ANNEX B Pirelli & C. S.p.A. Group R
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—— coordinates the Registering
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We further undertake to inform prel
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ANNEX I - Insider dealing - Black-o
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Article 6 —— In the conduct of
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Pirelli and sustainable development
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In October 2004, in a letter addres
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Pirelli has adopted the traditional
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Several tools are simultaneously us
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In 2008 Pirelli commissioned indepe
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Scs Consulting Accountability Ratin
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Collaboration agreements with unive
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Pirelli one of the 100 most respect
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Customer satisfaction is the most i
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from an unprecedented crisis the po
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Social dimension Internal Community
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WORKFORCE GEOGRAPHICAL BREAKDOWN 20
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The trend in the Group’s workforc
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International mobility, which is pe
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Pirelli’s participation in the Wo
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Training and Development Performanc
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Group DEVELOPMENT CENTERS Company/C
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For the years 2006-2007 the graph i
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the Sales&Marketing departments of
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language) to explain the meaning of
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(Have you ever been to a superbike
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Details on certain important initia
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A photo exhibit on the 100th annive
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The campaign began with the deliver
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As part of the restructuring proces
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Group affiliates still provide heal
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—— effective involvement of res
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To better understand these data, it
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Pirelli Real Estate S.p.A. Over the
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Awareness raising and training Pire
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This plan calls for: —— a self-
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larly on the work of the standing c
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focusing on reinforcing young peopl
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Page 308 and 309: THE GLOBAL COMPACT PRINCIPLES AND G
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Companies consolidated line-by-line
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