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Compared to the previous year this item increased by 15,110 thousand euros.
The breakdown is as follows:
| € thousand | 31.12.2014 | 31.12.2013 Restated | Increase / (Decrease) | Increase / (Decrease) % |
|---|---|---|---|---|
| Amortisation and depreciation | 203,543 | 194,775 | 8,768 | 4.5% |
| Provision for impairment of receivables | 110,165 | 79,559 | 30,606 | 38.5% |
| Provision for liabilities and charges | 13,564 | 37,827 | (24,263) | (64.1%) |
| TOTAL | 327,273 | 312,162 | 15,110 | 4.8% |
Amortisation and depreciation
| € thousand | 31.12.2014 | 31.12.2013 Restated | Increase / (Decrease) |
|---|---|---|---|
| Depreciation of tangible assets | 118,655 | 118,155 | 500 |
| Amortization of intangible assets | 81,199 | 75,063 | 6,136 |
| Impairment charges | 3,688 | 1,557 | 2,131 |
| Total | 203,543 | 194,775 | 8,768 |
The increase in depreciation and amortisation, amounting to 8,768 thousand euros, results from the increase in:
- amortisation of intangible assets of 6,136 thousand euros owing to the implementation of new software for improvement and technological development. The higher amortisation mainly refers to Acea Energia (+3,025 thousand euros) and the Parent Company (+2,277 thousand euros);
- impairment charges on some assets such as the Paliano plant affected by a fire in 2013 (1,309 thousand euros) e photovoltaic assets as a result of reduced income rates caused by the “incentives distribution” decree (640 thousand euros). This item also includes impairment charges for the start-ups at indefinite useful life for Laboratori and the proportional part of Kyklos (totalling 1,079 thousand euros).
Impairment charges and losses on receivables
This item totalled 110,165 thousand euros with an increase of 30,606 thousand euros of which 13,892 thousand euros for the Energy Segment companies and 12,405 thousand euros for the Water Segment companies. We can likewise point out an increase in impairment charges for ACEA Distribuzione (+2,981 thousand euros compared to 2013).
The breakdown is as follows by industrial segments:
| € thousand | 31.12.2014 | 31.12.2013 Restated | Increase / (Decrease) | Increase / (Decrease) % |
|---|---|---|---|---|
| Environment | 52 | 141 | (89) | (63.1%) |
| Energy | 75,630 | 61,738 | 13,892 | 22.5% |
| Water | 24,015 | 11,611 | 12,405 | 106.8% |
| Networks | 6,744 | 3,526 | 3,218 | 91.3% |
| Parent Company | 3,723 | 2,543 | 1,180 | 46.4% |
| Impairment charges and losses on receivables | 110,165 | 79,559 | 30,606 | 38.5% |
Provisions
At 31 December 2014, provisions, net of releases for redundancies, amounted to 13,564 thousand euros. Their breakdown by type is as follows:
| € thousand | 31.12.2014 | 31.12.2013 Restated | Increase / (Decrease) |
|---|---|---|---|
| Legal | 2,664 | 3,410 | (746) |
| Tax | 2,376 | 272 | 2,104 |
| Regulatory risks | (14,635) | 8,520 | (23,155) |
| Investees | 117 | 1,541 | (1,423) |
| Contributory risks | 112 | 1,796 | (1,683) |
| Early retirement and redundancies | 19,047 | 15,409 | 3,637 |
| Post mortem | (1,936) | 0 | (1,936) |
| Contracts and supplies | 865 | 1,841 | (976) |
| Other liabilities and charges | 422 | 900 | (477) |
| Total | 9,031 | 33,690 | (24,659) |
| Restoration charges IFRIC12 | 4,533 | 4,138 | 396 |
| Total provisions | 13,564 | 37,827 | (24,263) |
There follows the breakdown of provisions by industrial segments:
| € thousand | 31.12.2014 | 31.12.2013 Restated | Increase / (Decrease) | Increase / (Decrease) % |
|---|---|---|---|---|
| Environment | (302) | 612 | (914) | (149.0%) |
| Energy | 6,098 | 3,770 | 2,328 | 61.8% |
| Water | (9,533) | 9,989 | (19,522) | (195.4%) |
| Networks | 8,666 | 15,809 | (7,143) | (45.2%) |
| Parent Company | 8,638 | 7,648 | 990 | 12.9% |
| Provisions | 13,564 | 37,827 | (24,263) | (64.1%) |
Among the most significant allocations during the year we can mention the ones for early retirement and redundancies of staff, totalling 19,047 thousand euros, and allocations for charges to Acea Produzione for extra fees of the Bacino Imbrifero Montano of 1,853 thousand euros.
It is pointed out that the entire provision in ACEA Ato5 totalling 18,774 thousand has been offset since the provision no longer exists for potential liabilities deriving from the issue of the legitimacy of the tariffs applied by the company for the years 2006 – 2010. Among the other uses we can point out the adjustment of the SAO Post Mortem Fund (-1,936 thousand euros) and the release of 1,361 thousand euros in LaboratoRI for the recovery of plant efficiency as a result of the completions of the procedures for the sale of instruments and technical equipment owned by ACEA S.p.A.
For more details see note n. 27 and the section on “Update on major disputes and litigation”.