31. Trade payables - 1,267,161 thousand euros

At 31 December 2012 this item amounted to 1,267,161 thousand euros (-77,624 thousand euros compared to 31 December 2011) and is broken down as follows: 

Amounts due to third-party suppliers

Trade payables amounted to 1,193,080 thousand euros, marking an increase of 8,105 thousand euros.

The following table provides the breakdown by industrial area:

in €/thousand 31.12.2012 31.12.2011 Increase/ (Decrease)
Networks 314,202 285,625 28,577
Energy 370,710 430,021 (59,312)
Water 372,045 364,519 7,526
Environment 55,859 36,178 19,681
ACEA 80,264 68,632 11,632
Amounts due to third-party suppliers 1,193,080 1,184,975 8,105

The increase of 8,105 thousand euros is the result of contrasting factors:

  • Networks: the greater exposure to suppliers is due to ACEA Distribuzione for 63,478 thousand euros, partially offset by ARSE (-34,787 thousand euros).
  • Energy: the 59,312 thousand euro decrease derives from the reduced payables of Acea Energia (-205,936 thousand euros), partly offset by the increase recorded by Acea Energia Holding (+137,500 thousand euros). The change is the result of the fall in demand for electricity and gas sold to customers. Acea Produzione payables increased by 6,129 thousand euros,
  • Water: increase of 7,526 thousand euros compared to 31 December 2011. The following contributed to this change:
    • + 8,843 thousand euros for companies in the Lazio-Campania area, particularly GORI (+9,813 thousand euros);
    • - 1,576 thousand euros for companies in the Tuscany-Umbria area, mainly for Publiacqua amounts due to suppliers which decreased after 1,720 thousand euros was paid compared to 2011;
    • - 237 thousand euros for overseas companies, particularly the increase in payables recorded by Bogotá for 281 thousand euros;
    • + 497 thousand euros for the Engineering and Laboratory companies.
  • Environment: the 19,681 thousand euro increase is essentially caused by amounts due to suppliers accrued by ARIA for the contractors that are revamping the Terni waste-to-energy plant and the first line of the San Vittore del Lazio plant (+19,649 thousand euros); 
  • Parent Company ACEA: there was an increase of 11,632 thousand euros compared to the end of 2011, of which 2,300 thousand euros regards amounts due to suppliers as a result of the business unit rented to Marco Polo, the agreement on which expired on 1 January 2012. 

 

Trade payables due to the parent company Roma Capitale

These payables total 60,743 thousand euros. Details are provided in Note 23 on trade receivables.

 

Trade payables due to subsidiaries and associates

€ thousand 31.12.2012 31.12.2011 Increase/ (Decrease)
Payables due to subsidiaries 2,466 4,915 (2,448)
Payables due to associates 10,871 22,099 (11,228)
Total amounts due to subsidiaries and associates 13,338 27,014 (13,676)

Due to subsidiaries 

Payables due to subsidiaries include Acque payables to Le Soluzioni. 

Due to associates 

This item essentially includes payables due to Marco Polo for building cleaning and maintenance services from ACEA (4,114 thousand euros), ACEA Distribuzione (1,211 thousand euros), Acea Ato5 (1,378 thousand euros) and ARIA (428 thousand euros). Also included are payables to the associate Citelum Napoli Pubblica Illuminazione (2,481 thousand euros). A decrease of 11,228 thousand euros was recorded compared to 31 December 2011 and refers to minor payables due to the associate Marco Polo (-8,278 thousand euros) for services and works carried out, following expiry of the ACEA business unit rental at the end of the previous year, and lower payables due to the associate Citelum Napoli Pubblica Illuminazione (-448 thousand euros) linked to the public lighting service agreement regarding the municipality of Naples.

 

 

Tax payables

These amounted to 61,510 thousand euros (102,232 thousand euros at 31 December 2011) and include IRAP tax payable for the period of 8,236 thousand euros and VAT of 32,341 thousand euros.

The change compared to 31 December 2011 was mainly the result of the decrease in the payable for deferred VAT due to the collection of amounts due from Roma Capitale, as well as the decrease in payables for electricity surcharges (-16,925 thousand euros).

 

Other current liabilities

These amounted to 299,661 thousand euros with breakdown as shown in the following table:

in €/thousand 31.12.2012 31.12.2011 Increase/ (Decrease)
Social security contributions 21,228 20,098 1,130
Amounts due to end users for tariff restrictions 7,085 4,538 2,547
Payables deriving from commodity contracts 21 3,203 -3,182
Other current liabilities 271,327 258,601 12,726
TOTAL 299,661 286,440 13,221

Social security contributions 

These amounted to 21,228 thousand euros (20,098 thousand euros at 31 December 2011) and are broken down by industrial area:

in €/thousand 31.12.2012 31.12.2011 Increase/ (Decrease)
Networks 5,551 5,791 (240)
Energy 1,495 1,418 76
Water 10,637 9,743 893
Environment 561 555 6
ACEA 2,985 2,591 394
Social security contributions 21,228 20,098 1,130

Amounts due to end users for tariff restrictions 

This item includes amounts due to customers in the protected categories and free markets for the reimbursement of excess revenue. The total amount of 7,085 thousand euros relates to excess revenues for 2001 to be reimbursed to customers in the regulated market. In accordance with Italian Electricity and Gas Authority Resolution no. 180/2002, this payable is still not certain to be incurred as the Authority has yet to define the average cost of fuel for 2001, on the basis of which distributors can finally calculate their liability to regulated customers. It is reasonable to believe that after publication of the required defining elements ACEA Energia will arrange the rebates.

The application of excess revenues ended with the second regulatory period.

Payables deriving from commodity contracts 

This item totalling 21 thousand euros represents the fair value of certain financial contracts signed by Acea Energia Holding.

Other current liabilities 

These amounted to 271,327 thousand euros and recorded an increase of 12,726 thousand euros with respect to 31 December 2011. This item essentially consists of:

  • amounts due to the Equalisation Fund, totalling 23,736 thousand euros (-17,083 thousand euros),
  • amounts due to staff, totalling 37,085 thousand euros (-558 thousand euros),
  • collections from end users totalling 27,092 thousand euros (+4,706 thousand euros). These are collections on which normal allocation/reimbursement verification is in progress:
  • amounts due to various Municipalities totalling 102,648 thousand euros. The balance includes 60,705 thousand euros relating to the concession, sewerage and treatment fees of: (i) ACEA Ato2 (24,952 thousand euros), (ii) ACEA Ato5 (29,046 thousand euros), (iii) Publiacqua (13,400 thousand euros) due to the Municipalities of the respective areas and (iv) GORI (31,059 thousand euros).
  • payables due in instalments to Equitalia mainly recognised as follows: ACEA Distribuzione, ACEA, ACEA Ato2 and GORI for a total of 21,313 thousand euros,
  • current accruals and deferrals of 6,107 thousand euros (4,621 thousand euros at 31 December 2011),

payables due to the STO for 8,110 thousand euros deriving from revenue relating to application of the welfare contribution (this revenue is allocated to a fund for subsidised tariffs granted to families in hardship);