Consolidated Balance Sheet

Consolidated Balance Sheet

• ASSETS >

			12/31/2007		12/31/2006	of which related parties
	Property, plant and equipment		1.650.485		1.574.589
	Intangible assets		672.540		516.374
	Investments in associates and joint ventures		534.194		3.825.928
	Available-for-sale financial assets		958.272		1.006.898
	Deferred tax assets		58.524		64.230
	Other receivables		672.894	520.827	705.828	334.211
	Tax receivables		12.278		10.917
	Investment properties		3.849		-
	NON-CURRENT ASSETS		4.563.036		7.704.764
	Inventories		776.474		715.533
	Trade receivables		1.098.927	122.254	999.669	168.125
	Other receivables		241.475	22.072	356.205	11.888
	Securities held for trading		114.039		119.174
	Cash and cash equivalents		2.057.682		269.574
	Tax receivables		43.281		33.432
	Financial instruments		58.326		29.147
	CURRENT ASSETS		4.390.204		2.522.734
	TOTAL ASSETS		8.953.240		10.227.498

• EQUITY >

  	Attributable to the equity holders of the company:		2.980.231		3.879.591
  		Share capital	1.555.934		2.789.950
  		Other reserves	1.259.746		1.971.026
  		Retained earnings	-		286.057
  		Income (loss) for the year	164.551		(1.167.442)
  	Attributable to the minority interest:		823.840		806.966
  		Reserves	664.799		688.351
  		Income for the year	159.041		118.615
  	TOTAL EQUITY		3.804.071		4.686.557

• LIABILITIES >

	Borrowings from banks and other financial institutions		788.198		1.377.426
	Other payables		23.300		156.886
	Provisions for other liabilities and charges		146.331		145.119
	Deferred tax liabilities		44.625		42.931
	Employee benefit obligations		349.142		415.850
	Tax payables		11.211		9.708
	Financial instruments		6.782		4.751
	NON-CURRENT LIABILITIES		1.369.589		2.152.671
	Borrowings from banks and other financial institutions		871.759		1.562.262	242
	Trade payables		1.323.588		1.102.456	25.085
	Other payables		1.394.673		512.896	3.440
	Provisions for other liabilities and charges		71.340		116.525
	Tax payables		45.707		48.769	688
	Financial instruments		72.513		45.362
	CURRENT LIABILITIES		3.779.580		3.388.270
	TOTAL EQUITY AND LIABILITIES		8.953.240		10.227.498