Financial Information - Uralita

ANNUAL REPORT 2006
FINANCIAL INFORMATION
Notes to the Consolidated Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2006
1. CORPORATE INFORMATION
Uralita, S.A. ("the Company" or "the parent
company") is parent company to a Group of
companies which, taken as a whole, engages in
the manufacture and sale of construction
industry products in the broadest sense.
The Company was incorporated in Spain on 6
August 1920 in accordance with Spanish
Corporation Law. Its registered office is located at
Mejía Lequerica nº 10.
Uralita, S.A. is required to prepare its own
annual accounts and the consolidated annual
accounts of the Group.
2. BASIS OF PRESENTATION AND
ACCOUNTING PRINCIPLES
2.1. Basis of presentation
The consolidated annual accounts of the Uralita
Group for 2006 have been prepared by the
Directors of the parent company at a meeting of
its Board of Directors held 29 March 2007 from
the Company’s accounting records and those of
the rest of the companies comprising the Group
to give a true and fair view of the Group’s net
worth and financial situation at 31 December
2006 and the consolidated results of its
operations, changes in equity and cash flows for
the year then ended.
The Group carries out its business through the
companies detailed in Appendix I. Its main
businesses, which in accordance with IAS 14
the Group has determined to be its primary
segment reporting format, are the following:
• Insulation
• Gypsum
• Roofing
• Pipe Systems
The financial statements have been prepared
applying the accounting principles included in
the International Financial Reporting Standards
(IFRS) adopted by the European Union in
accordance with the provisions of Regulation
(CE) no. 1606/2002 of the European Parliament
and of the Council of 19 July. In Spain, the
obligation to present consolidated annual
financial statements under EU-approved IFRS
was established in the Final Disposition No 11 of
138