30. Current liabilities - 2,519,739 thousand euros

At 31 December 2012 current liabilities totalled 2,519,739 thousand euros (2,171,973 thousand euros at 31 December 2011) and are broken down as follows:

€ thousand 31.12.2012 31.12.2011 Increase/ (Decrease)
Borrowings 891,407 540,645 350,762
Trade payables 1,267,161 1,344,785 (77,624)
Tax payables 61,510 102 61,408
Other current liabilities 299,661 286,441 13,220
TOTAL 2,519,739 2,171,973 347,766

 

Borrowings

Borrowings totalled 892,751 thousand euros (540,645 thousand euros at 31 December 2011) and break down as follows:

€ thousand 31.12.2012 31.12.2011 Increase/ (Decrease)
Short-term bank lines of credit 488,400 374,534 113,866
Bank borrowings - mortgages 265,450 74,355 191,095
Due to the municipality of Rome 869 15,989 (15,120)
Due to subsidiaries and associates 768 16 753
Payables due to third parties 135,919 75,751 60,167
TOTAL 891,407 540,645 350,762

Short-term bank lines of credit

They amount to 488,400 thousand euros (374,534 thousand euros as at 31 December 2011) and show an increase of 113,866 thousand euros, due mainly to ACEA (+135,618 thousand euros) due to the greater financial exposure of the company and the subsidiaries managed by the centralised treasury, partially offset by the reduction of 23,891 thousand euros in Publiacqua due to the reclassification of the loan taken out until 23 May 2014 with the institutions BNL, BBVA and MPS.

Interest accrued by the Parent Company at 31 December 2012 amounted to 15,267 thousand euros, reflecting a weighted average interest rate of 3.25%. These lines of credit are not committed and are unsecured.

Bank borrowings - mortgages 

These totalled 265,450 thousand euros and regard the current portion of bank borrowings falling due within twelve months. Further details are provided in note 21 of this report.

Due to the parent company Roma Capitale 

The figure, equal to 869 thousand euros, refers to payables for dividends of ACEA Ato2. The decrease compared to 31 December 2011, equal to 15,120 thousand euros, is the result of the payment of the remaining amount due for the advance payment of dividends resolved last year, the offsetting performed on 29 February 2012 and the residual payable (869 thousand euros) arising from the distribution of the advance on dividends for 2012, resolved by the Board of Directors on 20 December 2012.

For further information on the composition and movements of the item, reference should be made to the corresponding item in assets.

Due to subsidiaries and associates 

These amount to 768 thousand euros (16 thousand euros at 31 December 2011), including: 581 thousand euros for payables recorded by Ecogena from Eur Power S.r.l. for the subscription payable on the share capital increase decided on 27 April 2012 and 187 thousand euros in payables due from ARSE to Ecogena in relation to the subsidiary’s share capital increase.

Payables due to third parties 

These amounted to 135,919 thousand euros (75,751 thousand euros at 31 December 2011). The breakdown of this item mainly concerns:

  • 94,407 thousand euros relating to amounts that must be repaid to factors for receivables transferred and collected after the transfer by (i) ACEA Energia for 40,761 thousand euros (+4,097 thousand euros), (ii) ACEA Ato2 for 32,477 thousand euros (+16,108 thousand euros) and (iii) ACEA Distribuzione for 21,169 thousand euros (+16,830 thousand euros),
  • 23,755 thousand euros relating to amounts owed in dividends to third party shareholders, in particular 21,827 thousand euros relating to the parent company for the advance on dividends resolved on 20 December 2012;
  • 13,477 thousand euros as the total receivables/payables item as required by art. 3 of the joint venture spin-off agreement;

The change compared to 31 December 2011 (totalling + 61,512 thousand euros) essentially refers to payables due to the awarding parties and receivables sold by the major Group companies.

The carrying amount of all short-term borrowings approximates to fair value at the end of the reporting period.