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Consolidated net debt (Net Financial Debt)

 
  
 As of 31 December 2010 As of 31 December 2009 Change
Notes In thousands of Euros  
  
  
27 Liquidity 154,859 200,239 (45,380)
 
  
  
  
  
26 Securities 23,051 4,127 18,924
 
 Current financial receivables 23,051 4,127 18,924
 
  
  
  
  
32 Payables due to banks (45,505) (24,473) (21,032)
32 Current portion of bank financing (82,929) (58,812) (24,117)
32 Amounts due to factoring companies (23,255) (26,599) 3,344
32 Amounts due under leases (791) (758) (33)
32 Current portion of payables due to other lenders (4,320) (2,536) (1,784)
 
 Current financial debt (156,800) (113,178) (43,622)
 
  
  
  
  
 
 Net current financial debt 21,110 91,188 (70,078)
 
  
  
  
  
32 Payables due to banks and financing institutions (214,785) (289,872) 75,087
32 Debenture loan (139,007) (137,665) (1,342)
32 Amounts due under leases (7,471) (8,262) 791
32 Amounts due to other lenders (9,785) (7,365) (2,420)
 
 Non-current financial debt (371,048) (443,164) 72,116
 
  
  
  
  
 
 Net financial debt (349,938) (351,976) 2,038
Pursuant to Consob Communication of 28 July 2006 and in compliance with the recommendation of the CESR of 10 February 2005 “Recommendation for the consistent implementation of the European Commission’s Regulation on Prospectuses“.

This table reconciles the movement in the flow of the consolidated net debt with cash and cash equivalent movements as shown in the Consolidated Statement of Cash Flows.

 
  
In thousands of Euros
Increase/decrease in cash and cash equivalents from the Consolidated Statement of Cash Flows (43,523)
Outflow for repayment of loans65,174
Repayment of finance leases 758
Loans received (37,652)
Amortised cost on M-L term financing (1,643)
Loans on leases received
Repayment of loans provided 0
Purchase of financial assets23,051
Sale of financial assets(4,127)
Exchange differences 0
Change in consolidated net debt 2,038