Balance sheet

CONSOLIDATED BALANCE SHEET

(in thousands of euro) Note (*) 31.12.2008 31.12.2007
ASSETS      
Non-current assets      
Property, plant and equipment (1) 96,363 94,628
Goodwill (2) 80,021 39,377
Intangible assets (3) 111,899 85,268
Investments in associates and joint ventures (4) 4,652 1,950
Available-for-sale financial assets (5) 3,386 5,580
Other non-current financial assets (6) 18,650 17,337
Other non-current assets (7) 994 880
Deferred tax assets (8) 15,087 16,697
Total   331,052 261,717
       
Current assets      
Inventories (9) 19,988 21,350
Trade receivables (10) 215,590 179,559
Other receivables (11) 4,646 10,648
Other current assets (12) 6,774 6,784
Cash and cash equivalents (13) 150,129 243,067
Total   397,127 461,408
TOTAL ASSETS   728,179 723,125
EQUITY AND LIABILITIES      
A) Equity      
Total equity attributable to the shareholders of the parent      
Share capital (14) 35,124 35,124
Equity reserves (15) 180,316 180,316
Fair value and revaluation reserves (16) 20,561 20,561
Hedging and translation reserves (17) (104) 485
Other reserves (18) 32,278 29,182
Retained earnings (19) 72,817 53,049
Profit for the year attributable to the shareholders of the parent (20) 16,111 27,694
Total equity attributable to the shareholders of the parent   357,103 346,411
       
Capital and reserves attributable to minority interests   1,487 1,485
Profit for the year attributable to minority interests (20) (97) (120)
Total equity attributable to minority interests   1,390 1,365
       
Total   358,493 347,776
       
B) Non-current liabilities      
Non-current financial liabilities (21) 14,140 16,407
Employee benefit obligations (22) 42,270 40,558
Deferred tax liabilities (8) 26,674 32,198
Provisions for risks and charges (23) 23,696 24,781
Other non-current liabilities (24) 1,398 2,072
Total   108,178 116,016
       
C) Current liabilities      
Bank overdrafts and loans - due within one year (25) 4,830 4,494
Financial liabilities held for trading (26) 143 -
Trade payables (27) 174,944 187,634
Other current liabilities (28) 9,404 5,812
Other payables (29) 72,187 61,393
Total   261,508 259,333
D) Non-current liabilities held for sale   - -
       
Total liabilities   369,686 375,349
TOTAL EQUITY AND LIABILITIES   728,179 723,125

(*)Section 11 of the explanatory notes (notes to the financial statements).

As required by CONSOB (the Italian securities & exchange commission) resolution no. 15519 of 27 July 2006, the effects of related-party transactions on the balance sheet, income statement, and cash flow statement of the parent company, Il Sole 24 ORE S.p.A., are reported in Section 13.5 and detailed in Section 13.2.