DOCSLIB.ORG

Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report Annual Report 2016 since 1850 1. Executive summary 100% 97.13% 100% 2.87% CDP CDP Fintecna CDP RETI Equity 100% Immobiliare SACE S.p.A. 59.10% S.p.A. S.p.A. S.p.A. S.r.l. ENI S.p.A. 25.76% Ligestra S.r.l. 100% Saipem S.p.A. 12.55% 50% Alere S.p.A. 29.85% Terna S.p.A. Poste Ansaldo 35.00% Ligestra Due S.r.l. 100% 44.84% 50% Bonafous S.p.A. 76.01% SIMEST S.p.A. Italiane S.p.A. Energia S.p.A. Terna group AcciaItalia S.p.A. 27.50% Ligestra Tre S.r.l. 100% Open Fiber S.p.A. 50.00% 50% Cinque Cerchi S.p.A. 1.12% 7 7.12% M.T. Manifattura FSI SGR S.p.A. 49.00% Ligestra Quattro S.r.l. 100% 90.91% 100% SACE FCT S.p.A. 28.98% SNAM S.p.A. Tabacchi S.p.A. FSI Investimenti S.p.A. Europrogetti & Manifatture 31.8% XXI Aprile S.r.l. 100% 50% 100% SACE do Brasil Finanza S.p.A. (i.l.) Milano S.p.A. SNAM group Consortiums Trevi Finanziaria Pentagramma African Trade 16.86% 50% 5.51% QuattroR SGR S.p.A. 29.41% and other Industriale S.p.A. Perugia S.p.A. Insurance Company 13.50% Risparmio 71.64% Rocco Forte Pentagramma 100% 20.00% 23.00% 50% SACE BT S.p.A. 25.08% Italgas S.p.A. Holding S.p.A. Hotels Ltd Piemonte S.p.A. 0.97% Fincantieri S.p.A. Valvitalia Quadrifoglio 0.50% 50% 100% Finanziaria S.p.A. Modena S.p.A. Italgas SACE Servizi S.r.l. group Fincantieri Residenziale Kedrion S.p.A. 25.06% 74.47% group Immobiliare 2004 S.p.A. IQ Made in Italy Sviluppo Turistico Culturale FSIA Investimenti S.r.l. 25% Investment Company S.p.A. Golfo di Napoli S.c.ar.l. 50% 100% 28.40% 49.48% Consortiums and other 100% CDP GAS S.r.l. Inalca S.p.A. SIA S.p.A. 25.00% Fondo Italiano CDP d’Investimento 70% Investimenti 40% Galaxy S.àr.l. SICAR SGR S.p.A. SGR S.p.A. 20.83% Fondo Italiano d’Investimento LEGEND 100% Fondo Investimenti per la Valorizzazione Extra 14.01% F2i - Fondi Italiani per le Infrastrutture SGR S.p.A. Business sectors 63.29% FoF Private Debt ENTERPRISES 100% Fondo Investimenti per la Valorizzazione Plus F2i - Fondo Italiano per le Infrastrutture REAL ESTATE A shares 8.10% C shares 0.04% 62.50% FoF Venture Capital INTERNATIONAL EXPANSION 49.31% Fondo Investimenti per l’Abitare INFRASTRUCTURE F2i - Secondo Fondo Italiano per le Infrastrutture 20.83% Fondo Italiano d’Investimento Fondo di Fondi 100% Fondo Investimenti per il Turismo (FIT) A shares 8.05% Type of control/in uence C shares0.02% 20.83% Fondo Italiano d’Investimento FII Venture CONTROL Fondo Immobiliare di Lombardia - 4.21% 14.08% 2020 European Fund for Energy, Climate DE FACTO CONTROL Comparto Uno (formerly Abitare Sociale 1) 1.14% European Investment Fund Change and Infrastructure SICAV-FIS S.A. SIGNIFICANT INFLUENCE 11.29% (Fondo Marguerite) Sinloc S.p.A. JOINT CONTROL 11.77% Fondo Atlante OTHER EQUITY INVESTMENTS OTHER 2.21% Inframed Infrastructure S.A.S. à capital INVESTMENT FUNDS Istituto per il Credito Sportivo variable (Fondo Inframed) 11.60% Fondo Atlante 2 A shares 38.92% B INVESTMENT VEHICLES 14.58% B shares 0.01% Fondo PPP Italia FUNDS MANAGEMENT RELATIONSHIP European Energy Eciency Fund SA, SICAV-SIF (Fondo EEEF) i.l.: in liquidazione A shares 10.70% C shares 1.68% 100% 97.13% 100% 2.87% CDP CDP Fintecna CDP RETI Equity 100% Immobiliare SACE S.p.A. 59.10% S.p.A. S.p.A. S.p.A. S.r.l. ENI S.p.A. 25.76% Ligestra S.r.l. 100% Saipem S.p.A. 12.55% 50% Alere S.p.A. 29.85% Terna S.p.A. Poste Ansaldo 35.00% Ligestra Due S.r.l. 100% 44.84% 50% Bonafous S.p.A. 76.01% SIMEST S.p.A. Italiane S.p.A. Energia S.p.A. Terna group AcciaItalia S.p.A. 27.50% Ligestra Tre S.r.l. 100% Open Fiber S.p.A. 50.00% 50% Cinque Cerchi S.p.A. 1.12% 7 7.12% M.T. Manifattura FSI SGR S.p.A. 49.00% Ligestra Quattro S.r.l. 100% 90.91% 100% SACE FCT S.p.A. 28.98% SNAM S.p.A. Tabacchi S.p.A. FSI Investimenti S.p.A. Europrogetti & Manifatture 31.8% XXI Aprile S.r.l. 100% 50% 100% SACE do Brasil Finanza S.p.A. (i.l.) Milano S.p.A. SNAM group Consortiums Trevi Finanziaria Pentagramma African Trade 16.86% 50% 5.51% QuattroR SGR S.p.A. 29.41% and other Industriale S.p.A. Perugia S.p.A. Insurance Company 13.50% Risparmio 71.64% Rocco Forte Pentagramma 100% 20.00% 23.00% 50% SACE BT S.p.A. 25.08% Italgas S.p.A. Holding S.p.A. Hotels Ltd Piemonte S.p.A. 0.97% Fincantieri S.p.A. Valvitalia Quadrifoglio 0.50% 50% 100% Finanziaria S.p.A. Modena S.p.A. Italgas SACE Servizi S.r.l. group Fincantieri Residenziale Kedrion S.p.A. 25.06% 74.47% group Immobiliare 2004 S.p.A. IQ Made in Italy Sviluppo Turistico Culturale FSIA Investimenti S.r.l. 25% Investment Company S.p.A. Golfo di Napoli S.c.ar.l. 50% 100% 28.40% 49.48% Consortiums and other 100% CDP GAS S.r.l. Inalca S.p.A. SIA S.p.A. 25.00% Fondo Italiano CDP d’Investimento 70% Investimenti 40% Galaxy S.àr.l. SICAR SGR S.p.A. SGR S.p.A. 20.83% Fondo Italiano d’Investimento LEGEND 100% Fondo Investimenti per la Valorizzazione Extra 14.01% F2i - Fondi Italiani per le Infrastrutture SGR S.p.A. Business sectors 63.29% FoF Private Debt ENTERPRISES 100% Fondo Investimenti per la Valorizzazione Plus F2i - Fondo Italiano per le Infrastrutture REAL ESTATE A shares 8.10% C shares 0.04% 62.50% FoF Venture Capital INTERNATIONAL EXPANSION 49.31% Fondo Investimenti per l’Abitare INFRASTRUCTURE F2i - Secondo Fondo Italiano per le Infrastrutture 20.83% Fondo Italiano d’Investimento Fondo di Fondi 100% Fondo Investimenti per il Turismo (FIT) A shares 8.05% Type of control/in uence C shares0.02% 20.83% Fondo Italiano d’Investimento FII Venture CONTROL Fondo Immobiliare di Lombardia - 4.21% 14.08% 2020 European Fund for Energy, Climate DE FACTO CONTROL Comparto Uno (formerly Abitare Sociale 1) 1.14% European Investment Fund Change and Infrastructure SICAV-FIS S.A. SIGNIFICANT INFLUENCE 11.29% (Fondo Marguerite) Sinloc S.p.A. JOINT CONTROL 11.77% Fondo Atlante OTHER EQUITY INVESTMENTS OTHER 2.21% Inframed Infrastructure S.A.S. à capital INVESTMENT FUNDS Istituto per il Credito Sportivo variable (Fondo Inframed) 11.60% Fondo Atlante 2 A shares 38.92% INVESTMENT VEHICLES 14.58% B shares 0.01% Annual Report 2016 C Fondo PPP Italia FUNDS MANAGEMENT RELATIONSHIP European Energy Eciency Fund SA, SICAV-SIF (Fondo EEEF) i.l.: in liquidazione A shares 10.70% C shares 1.68% Group structure Group CDP CDP We promote Italy’s future by contributing to economic development and investing in competitiveness (Translation from the Italian original which remains the definitive version) Summary Letter to shareholders 2 Company bodies, officers and governance 4 1. Executive summary 6 The CDP Group, role and mission 8 Performance and KPI 2016 10 Main events in 2016 12 CDP’s business model 14 2016-2020 Business Plan and 2016 activities 16 Financial highlights 20 Main equity investments 26 2. Report on operations 30 1. Composition of the CDP Group 32 2. Financial aggregates and performance indicators 40 3. Macroeconomic scenario and the market 42 4. 2016-2020 Business Plan 50 5. Corporate Governance 121 6. Outlook of operations 139 7. Relations of the Parent Company with the MEF 140 3. Separate financial statements 2016 142 Separate financial statements 148 Notes to the separate financial statements 154 Annexes to the separate financial statements 273 Report of the Board of Statutory Auditors 282 Report of the Independent Auditors 285 Certification of the separate financial statements 287 4. Consolidated financial statements 2016 288 Consolidated financial statements 294 Notes to the consolidated financial statements 302 Annexes to the consolidated financial statements 485 Report of the Independent Auditors 496 Certification of the consolidated financial statements 498 5. Shareholders’ resolution 500 1. Executive summary Letter to shareholders Dear Shareholders, In 2016, the Italian economy was affected by a number of con- through a multiplier effect of additional euro 20 billion, com- flicting factors that made the environment in which the CDP ing from public and private investors in Italy and abroad, for a Group operated even more challenging. On the one hand, the total volume of mobilized resources of around euro 50 billion: recovery stabilized, albeit at a slower pace than other major this represented a powerful financing boost for the develop- European countries. GDP grew at a slightly faster rate than in ment of Italy. Promoting the economy, however, did not under- 2015, thanks to domestic demand, which was driven by house- mine our profitability, which rose sharply, or our capital base, hold consumption and, above all, gross fixed capital formation. which was strengthened considerably. The Group posted net The renewed dynamism of the economy was reflected in the income of euro 1.1 billion after the loss registered in 2015, while business and household confidence indexes, which remained the Parent Company’s net income of about euro 1.7 billion was at a high level, although slightly down on the previous year.
Load more

Recommended publications
  • Annual Report
    Annual Report 2016 since 1850 1. Executive summary 100% 97.13% 100% 2.87% CDP CDP Fintecna CDP RETI Equity 100% Immobiliare SACE S.p.A. 59.10% S.p.A. S.p.A. S.p.A. S.r.l. ENI S.p.A. 25.76% Ligestra S.r.l. 100% Saipem S.p.A. 12.55% 50% Alere S.p.A. 29.85% Terna S.p.A. Poste Ansaldo 35.00% Ligestra Due S.r.l. 100% 44.84% 50% Bonafous S.p.A. 76.01% SIMEST S.p.A. Italiane S.p.A. Energia S.p.A. Terna group AcciaItalia S.p.A. 27.50% Ligestra Tre S.r.l. 100% Open Fiber S.p.A. 50.00% 50% Cinque Cerchi S.p.A. 1.12% 7 7.12% M.T. Manifattura FSI SGR S.p.A. 49.00% Ligestra Quattro S.r.l. 100% 90.91% 100% SACE FCT S.p.A. 28.98% SNAM S.p.A. Tabacchi S.p.A. FSI Investimenti S.p.A. Europrogetti & Manifatture 31.8% XXI Aprile S.r.l. 100% 50% 100% SACE do Brasil Finanza S.p.A. (i.l.) Milano S.p.A. SNAM group Consortiums Trevi Finanziaria Pentagramma African Trade 16.86% 50% 5.51% QuattroR SGR S.p.A. 29.41% and other Industriale S.p.A. Perugia S.p.A. Insurance Company 13.50% Risparmio 71.64% Rocco Forte Pentagramma 100% 20.00% 23.00% 50% SACE BT S.p.A. 25.08% Italgas S.p.A. Holding S.p.A. Hotels Ltd Piemonte S.p.A.
    [Show full text]
  • Annual Report
    Annual Report 2016 since 1850 1. Executive summary 100% 97.13% 100% 2.87% CDP CDP Fintecna CDP RETI Equity 100% Immobiliare SACE S.p.A. 59.10% S.p.A. S.p.A. S.p.A. S.r.l. ENI S.p.A. 25.76% Ligestra S.r.l. 100% Saipem S.p.A. 12.55% 50% Alere S.p.A. 29.85% Terna S.p.A. Poste Ansaldo 35.00% Ligestra Due S.r.l. 100% 44.84% 50% Bonafous S.p.A. 76.01% SIMEST S.p.A. Italiane S.p.A. Energia S.p.A. Terna group AcciaItalia S.p.A. 27.50% Ligestra Tre S.r.l. 100% Open Fiber S.p.A. 50.00% 50% Cinque Cerchi S.p.A. 1.12% 7 7.12% M.T. Manifattura FSI SGR S.p.A. 49.00% Ligestra Quattro S.r.l. 100% 90.91% 100% SACE FCT S.p.A. 28.98% SNAM S.p.A. Tabacchi S.p.A. FSI Investimenti S.p.A. Europrogetti & Manifatture 31.8% XXI Aprile S.r.l. 100% 50% 100% SACE do Brasil Finanza S.p.A. (i.l.) Milano S.p.A. SNAM group Consortiums Trevi Finanziaria Pentagramma African Trade 16.86% 50% 5.51% QuattroR SGR S.p.A. 29.41% and other Industriale S.p.A. Perugia S.p.A. Insurance Company 13.50% Risparmio 71.64% Rocco Forte Pentagramma 100% 20.00% 23.00% 50% SACE BT S.p.A. 25.08% Italgas S.p.A. Holding S.p.A. Hotels Ltd Piemonte S.p.A.
    [Show full text]
  • Dettagli Bilancio
    • BILANCIO DI ESERCIZIO AL 31.12.2016 1 BILANCIO DI ESERCIZIO AL 31.12.2016 • BILANCIO DI ESERCIZIO AL 31 DICEMBRE 2016 CDP Equity Società per Azioni Sede sociale MILANO – Corso Magenta, 71 - Palazzo Busca Registro delle imprese di Milano Iscrizione al Registro delle Imprese di Milano n. 07532930968 Iscritta presso CCIAA di Milano al n. REA 1965330 Capitale sociale Capitale sociale euro 3.480.981.960,00 interamente versato Codice Fiscale e Partita IVA 07532930968 Società sottoposta all’attività di direzione e coordinamento di Cassa depositi e prestiti società per azioni – Via Goito n. 4, Roma – Capitale sociale Euro 4.051.143.264,00 i.v., iscritta presso CCIAA di Roma al n. REA 1053767 - Codice Fiscale e iscrizione al Registro delle imprese di Roma n. 80199230584 - Partita IVA n. 07756511007 1 • BILANCIO DI ESERCIZIO AL 31.12.2016 ORGANI SOCIALI Consiglio di Amministrazione Leone Pattofatto1 Presidente Guido Rivolta2 Amministratore delegato Simonetta Iarlori1 Consigliere Collegio sindacale Roberto Ruggero Capone1 Presidente Paolo Golia Sindaco effettivo Ines Gandini1 Sindaco effettivo Domenico Livio Trombone Sindaco supplente Daria Beatrice Langosco di Langosco Sindaco supplente Società di Revisione Pricewaterhousecoopers S.p.A. 1 In carica dal 31 marzo 2016 2 Nominato consigliere il 31 marzo 2016, incaricato Amministratore delegato dall’11 aprile 2016 2 BILANCIO DI ESERCIZIO AL 31.12.2016 • SOMMARIO Relazione sulla gestione Bilancio di esercizio Stato patrimoniale Conto economico Prospetto della redditività complessiva Prospetto delle variazioni del patrimonio netto Rendiconto finanziario Note esplicative Allegati Relazione della Società di revisione Relazione del Collegio sindacale 3 • BILANCIO DI ESERCIZIO AL 31.12.2016 4 RELAZIONE SULLA GESTIONE • RELAZIONE SULLA GESTIONE 5 • BILANCIO DI ESERCIZIO AL 31.12.2016 6 RELAZIONE SULLA GESTIONE • INDICE 1.
    [Show full text]
  • Annual Report 2015
    CDP Group structure CDP Group 2015 REPORT REPORT 2015 ANNUALE ANNUAL REPORT www.cdp.it LEGEND Type of control/influence Business sectors INVESTMENT VEHICLES CDP CONTROL REAL ESTATE INVESTMENT FUNDS DE FACTO CONTROL ENTERPRISES FUNDS MANAGEMENT RELATIONSHIP SIGNIFICANT INFLUENCE INFRASTRUCTURE i.l.: in liquidazione 25.76% JOINT CONTROL INTERNATIONAL EXPANSION a.s.: amministrazione straordinaria ENI S.p.A. 100% 77.7% 76.01% 59.10% 100% 100% 100% 70% Fondo 2.3% CDP CDP CDP CDP Fintecna Strategico Simest Sace RETI GAS Immobiliare Investimenti S.p.A. Italiano S.p.A. S.p.A. S.p.A. S.r.l. S.r.l. SGR S.p.A. S.p.A. 28.98% 1.12% 71.64% 77.12% 29.85% 100% 100% Fincantieri S.p.A. FSI Investimenti S.p.A. Terna S.p.A. SNAM S.p.A. Sace BT S.p.A. Sace FCT S.p.A. 40% 100% Fincantieri Terna Snam 50% 44.55% SACE Servizi S.r.l. Alfiere S.p.A. Galaxy group Ansaldo Energia S.p.A. group group 0.29% S.àr.l. Bonafous S.p.A. 50% 8.43% Trevi Finanziaria 8.43% 100% Sace do Brasil SICAR Industriale S.p.A. Cinque Cerchi S.p.A. 50% 6.76% African Trade 31.8% Consortiums 11.50% Rocco Forte Hotels Ltd 11.50% Insurance Consorzio Condif (i.l.) 33.33% and other Company 0.50% Valvitalia Finanziaria S.p.A. M.T. Manifattura Tabacchi S.p.A. 50% Europrogetti & Finanza 28.40% Inalca S.p.A. 50% Consorzio Manifatture Milano S.p.A.
    [Show full text]
  • Annual Report Annuale Repor T 2015
    CDP Group structure CDP Group 2015 REPORT REPORT 2015 ANNUALE ANNUAL REPORT www.cdp.it LEGEND Type of control/influence Business sectors INVESTMENT VEHICLES CDP CONTROL REAL ESTATE INVESTMENT FUNDS DE FACTO CONTROL ENTERPRISES FUNDS MANAGEMENT RELATIONSHIP SIGNIFICANT INFLUENCE INFRASTRUCTURE i.l.: in liquidazione 25.76% JOINT CONTROL INTERNATIONAL EXPANSION a.s.: amministrazione straordinaria ENI S.p.A. 100% 77.7% 76.01% 59.10% 100% 100% 100% 70% Fondo 2.3% CDP CDP CDP CDP Fintecna Strategico Simest Sace RETI GAS Immobiliare Investimenti S.p.A. Italiano S.p.A. S.p.A. S.p.A. S.r.l. S.r.l. SGR S.p.A. S.p.A. 28.98% 1.12% 71.64% 77.12% 29.85% 100% 100% Fincantieri S.p.A. FSI Investimenti S.p.A. Terna S.p.A. SNAM S.p.A. Sace BT S.p.A. Sace FCT S.p.A. 40% 100% Fincantieri Terna Snam 50% 44.55% SACE Servizi S.r.l. Alfiere S.p.A. Galaxy group Ansaldo Energia S.p.A. group group 0.29% S.àr.l. Bonafous S.p.A. 50% 8.43% Trevi Finanziaria 8.43% 100% Sace do Brasil SICAR Industriale S.p.A. Cinque Cerchi S.p.A. 50% 6.76% African Trade 31.8% Consortiums 11.50% Rocco Forte Hotels Ltd 11.50% Insurance Consorzio Condif (i.l.) 33.33% and other Company 0.50% Valvitalia Finanziaria S.p.A. M.T. Manifattura Tabacchi S.p.A. 50% Europrogetti & Finanza 28.40% Inalca S.p.A. 50% Consorzio Manifatture Milano S.p.A.
    [Show full text]