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Income Statement


1st Half-Year 2009

(6 months)

1st Half-Year 2008

(6 months)

Income Statement
Change in inventories of finished products
and work in progress47962,202
Other operating revenues531,01129,593
Use of raw materials and consumables (net of changes in inventories of raw materials and stock)6-1,449,275-1,096,444
Service costs7-367,199-355,776
Personnel costs8-178,362-172,895
Amortisation, depreciation and provisions9-127,680-114,904
Other operating costs10-16,020-19,519
Capitalised costs11104,344118,033
Operating profit143,662142,671
Portion of profits (losses) pertaining to associated companies122,012697
Financial income135,77111,309
Financial charges13-59,602-63,572
Total financial operations-51,819-51,566
Other non-operating costs14-2,729-5,611
Pre-tax profit89,11485,494
Tax in the period15-37,293-35,909
Net profit for the period51,82149,585
Attributable to:
Shareholders of Parent Company46,76941,202
Minority shareholders5,0528,383
Earnings per share15.1

Pursuant to Consob resolution 15519 of 27 July 2006, the effects of dealings with related parties on the income statement are indicated in paragraph 2.05 of these abbreviated consolidated half-year financial statements.

Aggregate Income Statement

/ 00030-jun-200930-jun-2008
Net profit (loss) for the year51,82149,585
- change in cash flow hedge reserve (net of tax effect)-2,0694,442
- change in cash flow hedge reserve of companies valued at equity (net of tax effect)-331373
Total overall profit (loss) for the year49,42154,400
Attributable to:
Shareholders of Parent Company44,49145,923
Minority shareholders4,9308,477

This statement is presented for the first time based on the requirements of IAS 1 Revised. Specifically, this standard requires that several components recorded as an offsetting entry directly in shareholders' equity be highlighted. It is important to note that these items refer to unrealised profits/losses as at 30 June 2009, as they were generated by the measurement of full hedge derivatives.