Prospectus - Notowania

Property, plant and equipment and intangible assets
(in millions of €)
Property, plant and
% Change
equipment: Breakdown
A. Functional assets
09.30.2009 12.31.2008 12.31.2007 12.31.2006 2009/2008 2008/2007 2007/2006
1.1 owned 8,870 9,122 8,911 7,489 -2.8% 2.4% 19.0%
a) land 1,878 2,237 2,351 1,342 -16.0% -4.8% 75.2%
b) buildings 4,043 4,369 4,395 3,158 -7.5% -0.6% 39.2%
c) furniture 266 287 281 180 -7.3% 2.1% 56.1%
d) electronic plant 753 814 559 463 -7.5% 45.6% 20.7%
e) others 1,930 1,415 1,325 2,346 36.4% 6.8% -43.5%
1.2 acquired with
financial lease
161 138 103 103 16.7% 34.0% 0.0%
a) land 3 3 11 11 0.0% -72.7% 0.0%
b) buildings 49 50 74 74 -2.0% -33.3% 0.0%
c) furniture - 2 1 1 -100% 100% 0.0%
d) electronic plant 3 7 2 1 -57.1% 250.0% 100.0%
e) others 106 76 15 16 39.5% 406.7% -6.3%
Total A
B. Assets held for
investment purposes
9,031 9,260 9,014 7,592 -2.5% 2.7% 18.7%
2.1 owned 2,774 2,675 2,857 1,023 3.7% -6.4% 179.3%
a) land 905 946 916 412 -4.3% 3.2% 122.3%
b) buildings 1,869 1,729 1,941 611 8.1% -10.9% 217.7%
2.2 acquired with
- - - n.a n.a n.a
financial lease -
a) land - - - - n.a n.a n.a
b) buildings - - - - n.a n.a n.a
Total B 2,774 2,675 2,857 1,023 3.7% -6.4% 179.3%
Total (A + B) 11,805 11,935 11,871 8,615 -1.1% 0.5% 37.8%
Total property, plant and equipment as at September 30, 2009 decreased by about
€130 million.
During 2009, work continued focused on the appreciation of the Group’s real estate
assets, through:
• the second contribution to the Omicron Plus Fund; and
• the contribution to the Core Nord Ovest Fund.
The second contribution to the Omicron Plus Fund represents the continuation of a
process of appreciation of the real estate assets that started in 2008. In particular, on
December 30, 2008 UniCredit Real Estate completed its contribution to an Italian
closed real estate investment fund reserved to qualified investors, called “Omicron
Plus Immobiliare” and managed by Fimit, of a portfolio of 72 buildings (to be used as
offices and bank branches, used directly and/or leased to commercial banks and to
companies of the UniCredit Group). The contributed value was determined to be €799
million on the basis of the appraisal carried out by Real Estate Advisory Group
(“REAG”), as independent expert of the fund. From this derived, net of debt, the issue
of shares for €323 million. With reference to December 31, 2008 said shares were
underwritten by institutional investors for 62% (i.e. €200 million), while the
remaining 38% of shares (for €123 million) were retained by the UniCredit group
(through the subsidiary UniCredit Real Estate). The sale of the shares to institutional
investors entailed, for 2008, a capital gain before taxes related to the shares sold
during Q4 2008, of €348 million, which, net of the costs incurred and of taxes,
entailed a positive impact of about 5 basis points on the Group’s Core Tier 1 Ratio.
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