283
(in thousands of Euro)
31 December 2013
31 December 2012
Trade payables - current portion
295,791
27,653
Total trade payables - current portion
295,791
27,653
Other payables - current portion:
Tax and social security payables
4,293
3,919
Payables to employees
23,102
7,987
Accrued expenses
45
490
Other
1,820
1,421
Total other payables - current portion
29,260
13,817
Total
325,051
41,470
(in thousands of Euro)
31 December 2013
Of which related 31 December 2012
Of which related
parties (Note 25)
parties (Note 25)
Net financial position - as reported above
612,667
920,587
Long-term financial receivables
26
21
Long-term bank fees
-
3,919
Net forward currency contracts on commercial transactions
27
27
Net metal derivatives
(38)
(38)
-
Recalculated net financial position
612,682
924,527
The Company’s Net financial position is reconciled below to the amount that must be reported under Consob Communication
DEM/6064293 issued on 28 July 2006 in compliance with the CESR recommendation dated 10 February 2005 “Recommendations
for the consistent implementation of the European Commission’s Regulation on Prospectuses”:
These are detailed as follows:
11.
TRADE AND OTHER PAYABLES
Trade payables mostly refer to charges by suppliers of
strategic metals and only partly to those by suppliers of
other goods and services provided by external consultants in
organisational, legal and IT matters.
Other payables comprise:
• social security payables relating to contributions on
employee wages and salaries and amounts payable into
supplementary pension funds;
• tax payables mainly relating to tax withheld from
employees and not yet paid to the tax authorities;
• payables to employees for accrued wages and salaries not
yet paid. The balance at 31 December 2013 includes Euro
14,908 thousand in respect of the liability for the Long-
term incentive plan 2011-2013, which will be paid in the first
half of 2014;
• other payables, which mainly relate to amounts due
to Group companies for the transfer of recoverable
withholding taxes to the Company under the group tax
consolidation (art. 117 et seq of the Italian Income Tax
Code).
