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15 Tangible fixed assets

 
 31-dic-11of which assets held
under financial
leasing agreements
31-dic-10of which assets held
under financial
leasing agreements
Changes
Land and buildings398,86010,776368,69311,11330,167
General plant and machinery1,227,1843,6401,145,3304,93981,854
Other movable assets109,97111,724114,63115,267-4,660
Work in progress and advance payments148,461 211,578 -63,116
Total1,884,47626,1401,840,23231,31844,246

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

 Land and
buildings
Plant and
machinery
Other movable
assets
Fixed assets
in progress
and advance payments
Total tangible
fixed assets
PURCHASE COST     
Al 31.12.2009 373,510 1,514,162 336,311 358,747 2,582,730
Increases15,76656,37122,500101,984196,621
Divestments-9,752-2,929-18,238-2,726-33,645
Change in scope of consolidation - 5,4731,359 - 6,832
Reclassifications and other changes59,448181,1559,229-246,4273,405
As at 31.12.2010 438,972 1,754,232 351,161 211,578 2,755,943
ACCUMULATED DEPRECIATION     
As at 31.12.2009 58,460 539,483 219,562- 817,505
Increases8,85184,35626,930 - 120,137
Divestments-2,497-1,332-13,767 - -17,596
Change in scope of consolidation - 1,537900 - 2,437
Reclassifications and other changes5,465-15,1422,905 - -6,772
As at 31.12.2010 70,279 608,902 236,530- 915,711
NET VALUE     
As at 31 December 2009 315,050 974,679 116,749 358,747 1,765,225
As at 31 December 2010 368,693 1,145,330 114,631 211,578 1,840,232
      
PURCHASE COST     
As at 31.12.2010 438,972 1,754,232 351,161 211,578 2,755,943
Increases23,13251,57318,19062,788155,683
Divestments-377-4,323-13,623-268-18,591
Change in scope of consolidation6,68420,990444 - 28,118
Reclassifications and other changes21,77197,7291,375-125,639-4,764
Reclassifications - IFRS 5-12,470-1,491 -  - -13,961
As at 31.12.2011 477,712 1,918,710 357,547 148,459 2,902,428
ACCUMULATED DEPRECIATION     
As at 31.12.2010 70,279 608,902 236,530- 915,711
Increases11,09989,88325,932 - 126,914
Divestments-137-2,993-11,232 - -14,362
Change in scope of consolidation102315-414 - 3
Reclassifications and other changes49-3,767-3,241 - -6,959
Reclassifications - IFRS 5-2,540-815 -  - -3,355
As at 31.12.2011 78,852 691,525 247,575- 1,017,952
NET VALUE     
As at 31 December 2010 368,693 1,145,330 114,631 211,578 1,840,232
As at 31 December 2011 398,860 1,227,184 109,971 148,461 1,884,476

The breakdown and main changes within each category are commented on below.

"Land and buildings", totalling Euro 398,860 thousand, consist of Euro 316,691 thousand in buildings and Euro 82,169 thousand in land. In relation to land, these are mainly company-owned properties on which the majority of the sites and production plants stand. The increases comprise the extraordinary maintenance works carried out at the company offices in Modena-Via Razzaboni and Bologna-Viale Berti Pichat (management building), execution of the building works at certain drop-off points, execution of the building works on the Cogeneration Plant in Imola, purchase of land earmarked for landfills from the Municipality of Ravenna, and building works on the 4th line of the waste-to-energy plant in Coriano-Rimini, which entered operation during the year. As regards "IFRS 5 reclassifications", please refer to note 29 "Non-current assets held for sale".

"Plant and machinery", amounting to Euro 1,227,184 thousand, is made up mainly of distribution networks and plants relating to business not falling within the scope of the concession system and, therefore, principally: district heating, electricity in the Modena area, waste disposal, waste treatment, purification and composting, material recovery and chemical-physical treatment, anaerobic digesters, and special waste treatment plants. The increase in the period mainly reflects the extension of the district heating and cogeneration networks in certain areas of Bologna, Forlė and Cesena, the completion and normalisation of drop-off points, completion of the Cogeneration Plant in Imola-Via Casalegno and the 4th line of the Coriano-Rimini waste-to-energy plant, plus works to increase the size of active landfills. The decreases also include the disposal of electricity meters. As regards "IFRS 5 reclassifications", please refer to note 29 "Non-current assets held for sale".

"Other moveable assets", equal to Euro 109,971 thousand, include the equipment, waste disposal bins, furniture, electronic machines, motor vehicles and motor cars, including the public works vehicles at the plants for handling and compacting the waste. As regards the increases in the year, the purchases of assets linked to the "E-Gate" initiative (concerning the separate waste collection in the Rimini area), and other equipment should be noted in particular. Divestments mainly concerned waste disposal bins and motor vehicles relating to the environmental sector.

"Work in progress and advance payments", equal to Euro 148,461 thousand, mainly consist of investments carried out for the development of district heating, electricity distribution and extraordinary maintenance work on structural properties and waste-to-energy plants. Other significant works included the new "Disitrat" sludge treatment plant in Ravenna, the new "Digest dry" plants at the Rimini and Lugo (Ra) composting sites, the new CIC slag recovery plant in Modena, plus revamping works on the 3rd line of the waste-to-energy plant in Modena. The significant decrease is due mainly to the completion of construction works on the 4th line of the Coriano-Rimini the waste-to-energy plant.

The amounts indicated in the item "Change in scope of consolidation", for a net Euro 28,115 thousand, relate almost entirely to the portion pertaining to the Group of the thermoelectric and biomass plant owned by Enomondo Srl, a company subject to joint control.

For a more accurate analysis of investments in the period, please see the Directors' Report, section 1.03.01.

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