Income Statement

 (€ million)200820092010ChangeChange %
Core business revenue (*)   1,902 2,438 3,475 1,037 42.5
- of which construction and upgrade of distribution infrastructures 349 349
Other revenues and income   8 30 33 3 10.0
Total revenue   1,910 2,468 3,508 1,040 42.1
Operating costs (*) (**) (399) (581) (968) (387) 66.6
- of which construction and upgrade of distribution infrastructures   (349) (349)
EBITDA   1,511 1,887 2,540 653 34.6
Depreciation, amortisation and impairment losses   (489) (613) (678) (65) 10.6
EBIT   1,022 1,274 1,862 588 46.2
Net financial expense   (226) (217) (271) (54) 24.9
Net income from equity investments     22 47 25  
Profit before taxes   796 1,079 1,638 559 51.8
Income taxes   (266) (347) (532) (185) 53.3
Net profit (***)   530 732 1,106 374 51.1

(*) From 1 January 2010, items include the effects of applying international accounting standard IFRIC 12, “Service Concession Arrangements”. Application of this interpretation has had no impact on the group’s results, apart from the recognition of the equivalent amount of revenue and costs relating to the construction and upgrading of distribution infrastructure (€349 million). More information on this interpretation and how it applies to the Snam Rete Gas group can be found in the “Basis of presentation and consolidation principles” chapter of the Notes to the consolidated financial statements, to which reference is made.
( **) Operating costs include the captions “Purchases, services and other costs” and “Personnel expense” of the income statement included in the consolidated financial statements.
(***) Net profit is attributable to Snam Rete Gas.

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