HispanicBusiness

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Consolidated Condensed Interim Income Statement                               Three-month period       Nine-month period(all amounts in thousands of          ended                   ended U.S. dollars)                    September 30,           September 30,                             ----------------------  ----------------------                                2012        2011        2012        2011                             ----------  ----------  ----------  ----------Continuing operations               Unaudited              (Unaudited)Net sales                     2,657,069   2,494,840   8,075,910   7,221,927Cost of sales                (1,658,967) (1,563,520) (4,964,776) (4,534,895)                             ----------  ----------  ----------  ----------Gross profit                    998,102     931,320   3,111,134   2,687,032Selling, general and administrative expenses       (458,716)   (464,419) (1,389,514) (1,384,396)Other operating income (expenses) net                  44,174       1,654      49,027       4,303                             ----------  ----------  ----------  ----------Operating income                583,560     468,555   1,770,647   1,306,939Interest income                   9,413       5,547      24,702      19,747Interest expense                (18,247)    (14,073)    (40,860)    (39,362)Other financial results         (15,154)     28,019     (18,549)     16,669                             ----------  ----------  ----------  ----------Income before equity in earnings of associated companies and income tax       559,572     488,048   1,735,940   1,303,993Equity in earnings of associated companies            14,406       1,514      44,624      48,519                             ----------  ----------  ----------  ----------Income before income tax        573,978     489,562   1,780,564   1,352,512Income tax                     (136,491)   (124,074)   (429,490)   (358,124)                             ----------  ----------  ----------  ----------Income for the period           437,487     365,488   1,351,074     994,388Attributableto:Equity holders of the Company                        436,431     324,991   1,341,360     931,583Non-controlling interests         1,056      40,497       9,714      62,805                             ----------  ----------  ----------  ----------                                437,487     365,488   1,351,074     994,388                             ----------  ----------  ----------  ----------Consolidated Condensed Interim Statement of Financial Position(all amounts in thousands of U.S. dollars)                At September 30, 2012    At December 31, 2011                             ----------------------- -----------------------                                   (Unaudited)ASSETSNon-current assets    Property, plant and     equipment, net            4,327,490               4,053,653    Intangible assets, net     3,242,640               3,375,930    Investments in     associated companies      1,104,436                 670,248    Other investments              2,567                   2,543    Deferred tax assets          222,758                 234,760    Receivables                  129,903   9,029,794     133,280   8,470,414                             -----------             -----------Current assets    Inventories                2,988,690               2,806,409    Receivables and     prepayments                 278,126                 241,801    Current tax assets           182,832                 168,329    Trade receivables          1,919,482               1,900,591    Available for sale     assets                       21,572                  21,572    Other investments            888,760                 430,776    Cash and cash     equivalents                 787,540   7,067,002     823,743   6,393,221                             ----------- ----------- ----------- -----------Total assets                              16,096,796              14,863,635                                         ===========             ===========EQUITYCapital and reserves attributable to the Company's equity holders                 11,172,365              10,506,227Non-controlling interests                    179,541                 666,716                                         -----------             -----------Totalequity                               11,351,906              11,172,943                                         ===========             ===========LIABILITIESNon-current liabilities    Borrowings                   599,053                 149,775    Deferred tax liabilities     781,588                 828,545    Other liabilities            206,340                 233,653  Provisions                      67,499                  72,975    Trade payables                 1,222   1,655,702       2,045   1,286,993                             -----------             -----------Current liabilities    Borrowings                 1,343,059                 781,101    Current tax liabilities      256,893                 326,480    Other liabilities            385,860                 305,214  Provisions                      20,899                  33,605    Customer advances            160,188                  55,564    Trade payables               922,289   3,089,188     901,735   2,403,699                             ----------- ----------- ----------- -----------Total liabilities                          4,744,890               3,690,692                                         ===========             ===========Total equity and liabilities              16,096,796              14,863,635                                         ===========             ===========Consolidated Condensed Interim Statement of Cash Flow                               Three-month period       Nine-month period                                      ended                   ended                                  September 30,           September 30,                             ----------------------  ----------------------(all amounts in thousands ofU.S. dollars)                   2012        2011        2012        2011                             ----------  ----------  ----------  ----------                                   (Unaudited)             (Unaudited)Cash flows from operating activitiesIncome for the period           437,487     365,488   1,351,074     994,388Adjustments for:Depreciation and amortization                   144,713     135,064     420,597     400,465Income tax accruals less payments                       (20,417)     62,698    (126,196)    109,933Equity in earnings of associated companies           (14,406)     (1,514)    (44,624)    (48,519)Interest accruals less payments, net                   (6,126)       (635)    (24,382)    (28,455)Changes in provisions            (1,625)     (9,597)    (18,182)     10,319Changes in working capital     (107,051)      5,946     (55,708)   (492,611)Other, including currency translation adjustment          58,804    (221,176)     11,237    (118,460)                             ----------  ----------  ----------  ----------Net cash provided by operating activities           491,379     336,274   1,513,816     827,060Cash flows from investing activitiesCapital expenditures           (186,964)   (212,139)   (587,890)   (673,930)Acquisitions of subsidiaries and associated companies        (6,228)          -    (510,825)          -Proceeds from disposal of property, plant and equipment and intangible assets                             883       1,372       3,798       3,339Dividends and distributions received from associated companies                            6           -      18,708      17,229Changes in investments in short term securities         (469,351)    236,668    (457,984)     41,986                             ----------  ----------  ----------  ----------Net cash used in investing activities                    (661,654)     25,901  (1,534,193)   (611,376)Cash flows from financing activitiesDividends paid                        -           -    (295,134)   (247,913)Dividends paid to non- controlling interest in subsidiaries                         -      (5,964)       (905)    (11,699)Acquisitions of non- controlling interests              (38)        (90)   (758,577)    (16,579)Proceeds from borrowings        491,143     223,723   1,705,377     713,518Repayments of borrowings       (243,114)   (174,150)   (682,230)   (715,262)                             ----------  ----------  ----------  ----------Net cash used in financing activities                     247,991      43,519     (31,469)   (277,935)                             ----------  ----------  ----------  ----------                             ----------  ----------  ----------  ----------Decrease in cash and cash equivalents                     77,716     405,694     (51,846)    (62,251)                             ----------  ----------  ----------  ----------Movement in cash and cash equivalentsAt the beginning of the period                         693,712     362,043     815,032     820,165Effect of exchange rate changes                          3,567     (13,621)     11,809      (3,798)Decrease in cash and cash equivalents                     77,716     405,694     (51,846)    (62,251)                             ----------  ----------  ----------  ----------At September 30,                774,995     754,116     774,995     754,116                                At September 30,        At September 30,Cash and cash equivalents       2012        2011        2012        2011                             ----------  ----------  ----------  ----------Cash at banks, liquidity funds and short-term investments                    787,540     764,787     787,540     764,787Bank overdrafts                 (12,545)    (10,671)    (12,545)    (10,671)                             ----------  ----------  ----------  ----------                                774,995     754,116     774,995     754,116