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16 Tangible fixed assets

 
 31-Dec-200931-Dec-2008Changes
Land and buildings357,040299,05657,984
General plant and machinery2,255,2611,858,170397,091
Other moveable assets117,181111,4555,726
Work in progress and advance payments526,230620,453(94,223)
Total3,255,7122,889,134366,577

Tangible fixed assets are disclosed net of accumulated amortisation. Their composition and changes in the period are as follows:

  Land and buildingsPlant and machineryOther moveable assetsInvestments in progressTotal tangible fixed assets
       
Purchase cost      
Balance as at31/12/2008 362,519 2,545,647 307,542 620,453 3,836,161
       
Increases  15,812 340,050 19,788 117,010 492,660
Disinvestments ( 9,860)( 16,789)( 22,297)( 7)( 48,953)
Change in scope of consolidation  3,112 58,070 27,399 236 88,817
Other changes  58,993 228,362 4,365( 211,462) 80,258
Balance as at31/12/2009 430,576 3,155,340 336,797 526,230 4,448,943
Accumulated depreciation      
Balance as at31/12/2008 63,463 687,477 196,087 -   947,027
       
Depreciation for the year  8,668 142,126 27,106 -   177,900
Disinvestments ( 1,943)( 13,602)( 18,145) -  ( 33,690)
Change in scope of consolidation  204 12,704 13,923 -   26,831
Other changes  3,144 71,374 645 -   75,163
Balance as at31/12/2009 73,536 900,079 219,616 -   1,193,231
       
Net value      
Balance as at31/12/2008 299,056 1,858,170 111,455 620,453 2,889,134
Balance as at31/12/2009 357,040 2,255,261 117,181 526,230 3,255,712

"Land and buildings", equal to Euro 357,040 thousand as at 31 December 2009, mainly relate to company-owned properties.
Item "Increases" includes maintenance works at the company headquarters of Bologna, Forlė, Imola, Coriano, Cesena, Rimini and Cattolica and building works on the new line of the waste-to-energy plant in Forlė, in addition to the extraordinary transfer of assets from the companies Area Assets Spa and Con.Ami.
Decreases are mainly due to the disposal of buildings in Bologna (via Tolmino and via Laura Bassi) and of a portion of the headquarters in viale Berti Pichat called the "Gasometer Area".

Item "Plant and machinery", amounting to Euro 2,255,261 thousand as at 31 December 2009, mainly relates to the water, gas and electricity distribution grids and networks and waste treatment and disposal, purification and composting plants. The item, in addition to the costs for improvement to third party assets, also includes expenses incurred for the road system to the plants and the receivables due from the asset companies. The increase for the year is mainly due to the extraordinary transfer of assets of the companies Area Asset Spa and Con.Ami, as well as the reclassification of values from item "Franchises" included under intangible fixed assets (as a result of the expiry of some concessions relating to gas and purification services in some municipalities of the Bologna area, reference is made to description of intangible fixed assets).
Significant decreases are mainly due to the cancellation of the portion of plant of the Modena incinerator destroyed by fire, the disposal of electricity meters in the Modena area, some corporate assets damaged by fire and telecommunication equipment.

Item "Other moveable assets", equal to Euro 117,181 thousand as at 31 December 2009, include the equipment, waste disposal bins, furniture, electronic machines, motor vehicles and motor cars. The change, compared to the previous period, is mainly due to the combined effect of decreases for sale of bins and motor vehicles used for environmental services (Euro 16,789 thousand), and increases for changes in the scope of consolidation (Euro 27,399 thousand).

Item "Investments in progress", equal to Euro 526,230 thousand as at 31 December 2009, essentially represents the costs incurred for the construction of the cogeneration plant in Imola, construction works of gas, water networks and electricity grids, new lines and enlargements of waste disposal plants in Rimini and Modena. The decrease is mainly due to the "Canal Bianco" plant, in Ferrara, that underwent its final test at the beginning of 2009 and started to be depreciated in the same period, as well as to the incinerator in Forlė.
It should be noted that a partial reconversion plan of a portion of the same is being approved to use biomass as fuel. This change in destination, as highlighted by special surveys of third parties, will not result in reductions in usage value of these plants.

Tangible fixed assets recorded an overall increase of Euro 366,578 thousand compared to 31 December 2008. This value includes the following:

  • "net change in scope of consolidation", totalling Euro 61,986 thousand, regarding the companies Acantho Spa, Agea Reti Spa and Satcom Spa.

Please see the Report on Operations for an analysis of investments in the period.

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