Bilancio Consolidato 2011

VIII. Goodwill

At 31 December 2011 goodwill amounted to € 1,410,806k, compared with € 1,377,154k the previous year. The change consists solely of net exchange rate gains. The cash-generating units (CGUs) were identified on the basis of business segments, and in some cases further split by geographical region, consistently with the minimum level at which goodwill is monitored for internal management purposes.

Details of goodwill allocated to different CGU by business segments and geographic regions are provided in the table below:

(k) 31.12.2011 31.12.2010 Change
Food & Beverage Italia 83,516 83,516
Food & Beverage HMSHost 460,262 446,263 13,999
Food & Beverage Other 269,012 265,245 3,767
Travel Retail & Duty–Free:      
Europe 505,932 492,732 13,200
North America 38,945 37,850 1,095
Central and South America 5,840 5,655 185
Rest of the world 47,298 45,892 1,405
Total 1,410,806 1,377,154 33,652

Definitions and symbols

Exchange rates:more than half the Group’s operations are located in countries which use a non-euro currency, primarily the United States of America, the United Kingdom, Canada and Switzerland. Due to the local nature of the business, in each country revenue is generally expressed in the same currency as costs and investments.

Reconciliation between parent and consolidated equity

(k)

Equity at

31.12.2010

Changes  in equity Profit for 2011

Equity at

31.12.2011

Autogrill S.p.A. separate financial statements 774,055 (36,178) 31,926 769,804
Effect of the consolidation of subsidiaries' financial statements and related deferred taxation (69,421) (313) 94,378 * 24,644
Translation reserve (16,902) 20,782 3,880
Hedging reserve ** 2,300 (20,851) (18,551)
Group consolidated financial statements 690,032 (36,560) 126,304 779,776
Equity attributable to non- controlling interests 21,335 (14,514) 12,821 19,642
Total consolidated equity 711,367 (51,073) 139,124 799,418
* The amount includes the combined effect of the subsidiaries contribution to consolidated profit (€ 226,855k) and the elimination of dividends paid by subsidiaries to the parent (€ 132,477k) ** Net of tax effect

Atypical or unusual transactions

In  2011 there were no atypical  and/or  unusual  transactions  as defined  by Consob’s  communication DEM/6037577 of 28 April 2006 and DEM/6064293 of 28 July 2006.

 

Significant non-recurring events and transactions

In 2011, there were no significant non-recurring events or transactions as defined by Consob’s Resolution 15519 and Communication DEM/6064293.

 

Treasury shares

At 31 December 2011, Autogrill S.p. A . held 1,0 04,934 treasur y shares, or 0.395% of the share capital. Its  subsidiaries  do  not own equities  or other securities  representing  the share capital  of  Autogrill S.p. A ., and did  not at  any time  during  the year,  either  directly  or through trust companies  or other intermediaries.

Shares held by directors, statutory auditors, general managers and executives with strategic responsibilities

The following table shows the shares of Autogrill S.p.A. and its subsidiaries held by directors and statutory auditors of Autogrill S.p.A., general managers and executives with strategic responsibilities, and their spouses (unless legally separated) and minor children.

  Shares in Number of shares held at the end of 2010 Number of shares purchased Number of shares sold Number of shares held at the end of 2011
Gianmario Tondato Da Ruos Autogrill S.p.A. 14,700 14,700
Gianni Mion Autogrill S.p.A. 5,000 5,000
Tommaso Barracco * Autogrill S.p.A. 12,587 12,587
* Number of shares already held before being appointed to the Board (21 April 2011)

Data protection

Autogrill S.p.A. has updated the Data Protection Document for 2011, in consideration of our particular business needs, although it no longer needs to be mentioned in the financial statements in accordance with the “Simplification and Development Decree” (D.L. 5/2012).

This decree has also excluded data on corporate entities from the concept of “personal data.” The Group’s actions during the course of 2011 can be summarized as follows.

Research and development

In relation to the nature of its activities, the Group  invests in innovation, product development, and improvements to the quality of service.

It does not conduct technological research as such.

 

 

Statement pursuant to art. 2.6.2 (12) of the Regulations for Markets Organized and Managed by Borsa Italiana S.p.A.

In respect of art. 36 of Consob Regulation no. 16191 of 29 October  2007 on conditions for the listing of companies that control entities formed or governed under the laws of countries outside the European Union that are of material significance to the consolidated financial statements, we report that three companies fall under these provisions (Autogrill Group Inc., HMSHost Corp., and Host International Inc.), that suitable procedures have been adopted to ensure total compliance with said rules, and that the conditions stated in art. 36 have been satisfied.

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