2014 Annual Report 69

CONSOLIDATED BALANCE SHEET In thousands of euro 31.12.2014 31.12.2013 restated(*)

Intangible assets 438,376 441,879 Property, plant and equipment 858,625 801,312 Other financial assets 33,644 35,279 Investments in associates 188,561 218,077 Non-current derivative financial instruments 2,398 1,691 Deferred tax assets 90,889 81,349 TOTAL NON-CURRENT ASSETS 1,612,493 1,579,587 Inventories and work in progress 440,599 430,673 Trade and other receivables 813,822 804,089 Tax credits 25,754 16,103 Derivative financial instruments 4,320 4,937 Other current financial assets 16,357 94,546 Cash and cash equivalents 470,356 388,299 TOTAL CURRENT ASSETS 1,771,208 1,738,647 Assets relating to operations discontinued or in process of sale 1,961 1,066 TOTAL ASSETS 3,385,662 3,319,300

In thousands of euro 31.12.2014 31.12.2013 restated(*)

Paid-in capital 94,714 94,100 Reserves -44,573 -40,292 Retained earnings 1,068,583 1,048,507 EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT 1,118,724 1,102,315 Equity attributable to non-controlling interests 101,109 102,969 TOTAL EQUITY 1,219,833 1,205,284 Provisions 122,371 92,306 Non-current borrowings 308,379 328,988 Other non-current liabilities 57,100 45,405 Non-current derivative financial instruments 8,033 11,445 Deferred tax liabilities 116,921 118,155 TOTAL NON-CURRENT LIABILITIES 612,804 596,299 Trade and other payables 892,313 908,293 Taxes on income payable 7,459 9,905 Derivative financial instruments 4,226 1,760 Bank borrowings 648,790 597,506 TOTAL CURRENT LIABILITIES 1,552,788 1,517,464 Liabilities relating to operations discontinued or in process of sale 236 253 TOTAL LIABILITIES 2,165,828 2,114,016 TOTAL EQUITY AND LIABILITIES 3,385,662 3,319,300

ASSETS

EQUITY AND LIABILITIES

(*)With effect from January 1, 2014 (and with retroactive effect from January 1, 2013) the Group has applied IFRS 11, Joint Arrangements. As a result, the financial statements for 2013 have been restated in accordance with the new standard .