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Other activities
Key financial information for the other activities segment may be summarised as follows:
This sector largely comprises the following activities:
- Management of international investments, support for the study of new projects overseas and raising finance on the international markets through Falck Energy SpA, Falck Financial Services Sa (in liquidation), Sustainable Energy Solutions Ltd (in liquidation) and Falck Energy Iran Sa;
- Factoring activities both for group companies and a limited number of third parties through Riesfactoring SpA;
- Investment in Italian Lao Group Ltd;
- Activities linked to the provision of a variety of services through Sesto Siderservizi Srl.
This sector recorded a loss of Euro 406 thousand compared to the loss of Euro 59,549 thousand in 2009.
The 2009 result was affected significantly by Falck Energy Sa's (now Falck Energy SpA) charge to the sundry risks provision (Euro 52,091 thousand) in relation to the loss recorded by its subsidiary Bioland Sa, the holding company of the companies in the Ukraine.
The 2010 results includes the gain of Euro 4,792 thousand arising on the sales of investments (Bioland Sa and Dhampur Sugar Distillery Ltd), dividends received from Unicredit SpA (Euro 523 thousand) and the strong performance of Riesfactoring SpA (profit for the year Euro 759 thousand). These results were offset by non-recurring expenditure incurred by Falck Energy SpA on the liquidation of certain companies that are still to be finalised and the losses recorded by Italian Lao Group Ltd (Euro 566 thousand), Falck Energy Iran Sa (Euro 544 thousand) and Falck Financial Services Sa (Euro 463 thousand) that was put into voluntary liquidation in November 2010.
The net financial position, a net indebtedness of Euro 24,121 thousand, increased by Euro 17,137 thousand compared to 2009.
At the previous end Falck Energy Sa included liabilities of Euro 10,208 thousand in respect of amounts owed to the employees of the Falck Renewables Wind Ltd group relating to the share repurchase scheme assigned to them following the share capital increase reserved for employees. This commitment no longer exists and Falck Energy reversed amounts due to employees against equity.
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