ALtarea GROUP / Individual company financial statements at 31 December <strong>2008</strong> 3 Individual company financial statements at 31 December <strong>2008</strong> 1. INCOME STATEMENT 55 2. BALANCE SHEET 56 3. NOTES TO THE INDIVIDUAL COMPANY FINANCIAL STATEMENTS 58 3.1 Key events of the financial year 3.2 Comparability of the financial statements 3.3 Accounting principles, rules and methods Notes to the balance sheet - equity and liabilities Other informations 2. Statutory auditors’ <strong>report</strong> on the full-year financial statements 73 3. Statutory auditors’ <strong>report</strong> on regulated agreements 75
1 - INCOME STATEMENT (€ thousand) 12/31/<strong>2008</strong> 12/31/2007 12/31/2006 Revenue 34,553 31,011 19,233 REVENUE 34,553 31,011 19,233 Reversals of depreciation and amortisation and provisions, expense transfers 913 274 1,342 Other income 1,215 34 205 TOTAL OPERATING INCOME 36,682 31,319 20,779 Other purchases and external expenses 21,986 21,705 13,224 Taxes other than on income and related payments 1,544 1,428 2,403 Wages and salaries 153 124 Social security contributions 56 1 45 Depreciation and amortisation 10,188 10,128 6,251 Allowances for impairment of current assets 437 55 43 Other expenses 675 22 Operating expenses 35,040 33,340 22,090 Operating profit 1,642 -2,021 -1,310 FINANCIAL INCOME Financial income from participating interests 27,169 40,287 27,128 Gains from other negotiable securities 3,658 2,444 153 Other income and related gains 28,128 16,345 7,659 Reversals of provisions and expense transfers 552 185 Foreign exchange gains Net gains on the disposal of marketable securities 253 167 41 FINANCIAL INCOME 59,207 59,796 35,167 Financial allowances for depreciation and impairment 35,064 552 Interest and similar expense 38,137 27,633 11,648 Foreign exchange losses 6 Net expenses on the disposal of marketable securities FINANCE COSTS 73,207 27,633 12,201 NET FINANCE COSTS -13,999 32,163 22,966 INCOME BEFORE NON-RECURRING ITEMS AND TAX -12,357 30,142 21,656 Non-recurring income from management transactions 1 -1 Non-recurring income from capital transactions 339,580 2,434 9,530 Reversals of provisions and expense transfers NON-RECURRING INCOME 339,581 2,434 9,530 Non-recurring expenses on management transactions -20 26 Non-recurring expense on capital transactions 240,720 3 8,775 Non-recurring allowances for depreciation and impairment 1,619 NON-RECURRING EXPENSES 242,339 -17 8,801 NET NON-RECURRING ITEMS 97,243 2,451 729 Employee profit-sharing Income taxes 1,197 24 199 TOTAL INCOME 435,471 93,549 65,476 TOTAL EXPENSE 351,782 60,981 43,290 PROFIT OR LOSS 83,689 32,569 22,186 55