Attached
CONSOLIDATES STATEMENT OF COMPREHENSIVE INCOME
2° quarter 2013 (*)
2° quarted 2012 (*) Restated
€/000
PROFIT/(LOSS) BEFORE NON-CONTROLLING INTERESTS 561 464
Foreign currency translation difference (4,848) (7,980)
Income taxes
(4,848)
(7,980)
Net profit/(loss) from Cash Flow Hedge 68 (67)
Income taxes (19) 43
49
(24)
Total other gains / (losses), net of tax, which may be subsequently reclassified to profit / (loss) for the year
(4,799)
(8,004)
Net profit/(loss) - IAS 19 215 (222)
Income taxes (49) 63
166
(159)
Total other gains / (losses), net of tax, will not subsequently reclassified to profit / (loss) for the year
166
(159)
Total profit/(loss) from statement of
comprehensive income, net of taxes (4,633) (8,163) Total comprehensive profit/(loss), net of taxes (4,072) (7,699)
Ascribable to:
Shareholders of the parent company (4,070) (7,697)
Minority shareholders (2) (2)
Certification of the half-yearly financial statements pursuant to Article 154-bis, paragraph 5, of Italian Legislative Decree no. 58 of 24 February 1998
The undersigned parties, Mr Filippo Casadio, Chairman, and Ms Elena Casadio, Manager responsible for preparing the corporate accounting documents of IRCE S.p.A., hereby certify, taking into account the provisions of Article 154-bis, paragraph 5, of Italian Legislative Decree no. 58 of 24 February 1998:
• the adequacy in relation to the company's characteristics, and • the effective implementation
of the administrative and accounting procedures used to prepare the half-yearly financial statements. In addition, it is hereby certified that the half-yearly financial statements:
a) are consistent with ledger items and accounting entries;
b) are prepared in compliance with IAS and present a true and fair view of the financial position, results of operations and cash flows of the issuer as well as of the group of companies included within the scope of consolidation; and
c) that the interim report on operations contains a reliable analysis of the information pursuant to paragraph 4, Article 154-ter of Italian Legislative Decree no. 58 of 24 February 1998.
PricewaterhouseCoopers SpA
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AUDITORS’ REPORT ON THE REVIEW OF CONSOLIDATED CONDENSED INTERIM FINANCIAL STATEMENTS
To the Shareholders of IRCE SpA
1 We have reviewed the consolidated condensed interim financial statements of IRCE SpA
(hereinafter also the “Company”) and its subsidiaries (“IRCE Group”) as of 30 June 2013 and for the six months period then ended, comprising the balance sheet, the income statement, the statement of comprehensive income, the statement of changes in equity, the statement of cash flows and related explanatory notes. The Directors of IRCE SpA are responsible for the
preparation of the consolidated condensed interim financial statements in accordance with the international accounting standard (IAS 34) applicable to interim financial reporting, as adopted by the European Union. Our responsibility is to issue this report based on our review.
2 We conducted our review in accordance with the criteria for a review recommended by the National Commission for Companies and the Stock Exchange (CONSOB) with Resolution no. 10867 of 31 July 1997. The review consisted principally of inquiries of Company personnel about the information reported in the consolidated condensed interim financial statements and about the consistency of the accounting principles utilized therein as well as the application of
analytical review procedures on the data contained in the above mentioned consolidated financial statements. The review excluded certain auditing procedures such as compliance, verification and validation tests of assets and liabilities and was therefore substantially less in scope than an audit performed in accordance with generally accepted auditing standards. Accordingly, unlike an audit carried out on the annual consolidated financial statements, we do not express a professional audit opinion on the consolidated condensed interim financial statements.
The consolidated condensed interim financial statements present, for comparative purposes, the consolidated financial statements of the prior year and the consolidated condensed interim financial statements of the prior year. As reported in the explanatory notes, as a consequence of the adoption of the new accounting standard IAS 19 revised, the Directors have restated some comparative data of the consolidated condensed interim financial statements of the prior year, as compared to those ones previously presented and reviewed by us, on which we issued our auditor’s report on 29 August 2012. We have examined the methods for the restatement of the comparative data and the related disclosure in the explanatory notes, in order to issue our auditor’s report on the consolidated condensed interim financial statements as of 30 June 2013. Regarding the amounts of the consolidated financial statements of the prior year presented for comparative purposes, reference should be made to our report dated 5 April 2013.
3 Based on our review, nothing has come to our attention that causes us to believe that the consolidated condensed interim financial statements of IRCE Group as of 30 June 2013 and for the six months period then ended have not been prepared, in all material respects, in accordance with the international accounting standard (IAS 34) applicable to interim financial reporting, as adopted by the European Union.
Bologna, 29 August 2013 PricewaterhouseCoopers SpA Signed by
Gianni Bendandi (Partner)
This report has been translated into the English language from the original, which was issued in Italian, solely for the convenience of international readers.