Balance Sheet

Assets (€)	Note	31/12/2010	31/12/2009
Intangible assets	1	91,116,210	91,530,041
Fixed assets	2	2,382,845	2,469,955
Land and buildings		8,317,461	8,872,800
Plant and machinery		4,765,495	5,515,528
Other assets		3,906,661	3,440,758
Property, plant and machinery	3	16,989,617	17,829,086
Investments	4	642,448,638	604,703,006
Non-current financial assets		50,605,220	-
Advanced taxes	5	20,766,540	21,555,956
Other non-current assets	6	464,946	453,821
Total non-current assets		824,774,016	738,541,865
Tax credits	7	14,858,703	6,378,283
Other current assets	8	39,100,597	119,631,100
Inventories	9	31,619,890	31,255,819
Trade receivables	10	222,634,782	204,399,315
Stocks and other current financial assets	11	93,699,519	104,470,652
Cash and equivalents	12	73,440,320	35,422,265
Total current assets		475,353,811	501,557,434
Assets destined to be sold or closed		-	-
Total assets		1,300,127,827	1,240,099,299

Liabilities (€)	Note	31/12/2010	31/12/2009
Share capital		67,451,756	67,451,756
Share premium reserve		286,857,191	286,857,191
Treasury stock		(110,129,768)	(104,001,848)
Other reserves and results carried forward		222,192,103	167,663,791
Profit (loss) for the period		51,733,096	53,179,772
Total shareholders’ equity	13	518,104,378	471,150,662
Reserves	14	27,520,665	36,398,425
Severance payments	15	24,393,095	32,434,139
Non-current financial liabilities	16	265,021,935	140,031,553
Deferred tax liabilities	5	19,935,902	19,031,622
Other non-current liabilities		-	-
Total non-current liabilities		336,871,597	227,895,739
Income taxes payable	17	14,305,492	17,625,578
Other current liabilities	18	69,482,291	74,873,469
Trade liabilities	19	173,982,897	159,952,338
Bank debts and other financial liabilities	16	187,381,172	288,601,513
Total current liabilities		445,151,852	541,052,898
Liabilities deriving from sales or closures		-	-
Total liabilities		1,300,127,827	1,240,099,299