Income statement

(€ millions)200720082009Change% change
Core business revenue 1,790 1,902 2,438 536 28.2
Other income 78 8 30 22
- of which non-recurring 71
Total revenue 1,868 1,910 2,468 558 29.2
Operating costs (*) (357) (399) (581) (182) 45.6
- of which non-recurring 5
EBITDA 1,511 1,511 1,887 376 24.9
Amortisation, depreciation and impairment (489) (489) (613) (124) 25.4
EBIT 1,022 1,022 1,274 252 24.7
Adjusted EBIT(**) 946 1,022 1,274 252 24.7
Net financial expense (200) (226) (217) 9 (4.0)
- of which non-recurring 10
Net income from equity investments 22 22
Pre-tax profit 822 796 1,079 283 35.6
Income taxes (228) (266) (347) (81) 30.5
- of which non-recurring and other special items 66
Net profit(***) 594 530 732 202 38.1
Adjusted net profit(***) 442 530 732 202 38.1

(*) Operating costs comprise the items "Purchases, services and other costs" and "Personnel expense" from the consolidated financial statements.
(**) To reconcile EBIT and net profit for 2007 with the corresponding adjusted values, see financial review of the directors’ report in the consolidated financial statements for 2007.
(***) Net profit is attributable to Snam Rete Gas.

Net profit

Net profit for 2009 amounted to €732 million, an increase of €202 million, or 38.1%, compared with 2008. The rise is attributable to: (i) higher EBIT (+€252 million) because of the associated effects of consolidating the acquired companies; (ii) income from equity investments (+€22 million), relating mainly to shares of the results for the period of subsidiaries and affiliates valued using the equity method; (iii) lower net financial expense (+€9 million) due mainly to a significant reduction in market interest rates. These positive factors were partially offset by an increase in income taxes (-€81 million) brought about by higher pre-tax profit (+€283 million).

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