SAVINO DEL BENE S.p.A.

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30.06.00 % 31.12.00 % 30.06.01 % Difference %Difference 6.01-6.00 6.01-6.00 By sea 111,901 61.50% 234,352 60.91% 103,195 58.03% -8,706 -7.78% By air 50,970 28.01% 113,007 29.37% 57,044 32.08% 6,074 11.92% By land 6,890 3.78% 13,144 3.42% 6,103 3.43% -787 -11.42% Importation and customs clearing services 12,007 6.60% 23,806 6.19% 11,240 6.32% -767 -6.39% Other revenues 198 0.11% 450 0.11% 244 0.14% 46 23.23% Total 181,966 100% 384,759 100% 177,826 100% -4,140 -2.28% The following table shows an analysis of the above revenue by geographical area: 30.06.01 % North America 80,598 45.32% Central America 637 0.36% South America 4,027 2.26% Europe 80,477 45.26% Africa 269 0.15% Middle East 2,356 1.32% Far East 9,336 5.25% Australia and South Pacific 126 0.08% Total 177,826 100% The following table shows the variation in costs with respect to prior periods: 30.06.00 31.12.00 30.06.01 Diff. 6.01-6.00 %Diff. 6.01-6.00 Freight charges 99,764 209,230 98,362 -1,402 -1.41% Haulage charges 16,796 35,040 15,253 -1,543 -9.19% Customs charges 6,195 12,887 4,314 -1,881 -30.36% Cost of haulage, porterage and storage 4,192 8,857 4,008 -184 -4.39% Cost of insuring goods 350 873 462 112 32.00% Cost of visas and fees to customs operators 28 91 31 3 10.71% Agents and correspondents’ fees and charges 18,496 42,034 20,512 2,016 10.90% Cost of shipping carried out by authorised third parties 217 455 281 64 29.49% Other services 6,967 15,210 8,124 1,157 16.61% Purchase of consumable materials 641 1,430 895 254 39.63% Leasing and rental charges 1,175 2,429 1,487 312 26.55% Total costs for goods and services 154,821 328,536 153,729 -1,092 -0.71% In particular, the utilisation of Group companies in North America for the carrying out of “brokerage” activities and delivery of goods to their destination, represents the principal reason for the increase in agents and correspondents’ fees and charges. The decrease in the cost of goods and services consumed was not sufficient to compensate for the reduction in the volume of sales revenue realised during the period. Shipments by sea Revenues from shipments by sea amount to Lire 103,195 million, against Lire 234,352 million at 31st December 2000 and Lire 111,901 million at 30th June 2000. The analysis of this revenue by geographic area is shown in the table below. For the first time the figures are analysed by the 4
geographic area of the customer invoiced for the service. However the percentage analysis of the revenues by destination area is more or less the same as that shown in the table detailing the geographical analysis by destination of volumes shipped by sea. 30.06.01 % North America 59,702 57.85% Central America 488 0.47% South America 2,426 2.35% Europe 36,037 34.92% Africa 158 0.15% Middle East 2,224 2.16% Far East 2,097 2.03% Australia and South Pacific 63 0.06% Total 103,195 100% During the first six months of the year 2001, the drop in the volume of goods shipped by sea (- 14.86%) was only partly matched by the drop in revenues from goods shipped by sea (-7.78%). This is due principally to an increase in the rates charged to customers. The reduction in volumes shipped towards the Company's main North American market was partially compensated for by the increase registered in shipments towards the Far East (+28.6%) which represents a market with a high potential for future growth. The following table shows the variation in the volume of goods shipped by sea towards the following destinations with respect to 30.6.00 and to 31.12.00 (figures expressed in No. of Teus shipped): 5
Page 1 and 2: SAVINO DEL BENE S.p.A. DIRECTORS' R
Page 3: (-) Labour costs (-) Sundry costs G
Page 7 and 8: 30.06.01 % North America 20,220 35.
Page 9 and 10: quality of service to its customers
Page 11 and 12: • Savino Del Bene USA Inc. (New Y
Page 13 and 14: most significant reduction regarded
Page 15 and 16: against Lire 33 million for the per
Page 17 and 18: The parent company's income stateme
Page 19 and 20: educed where necessary to take acco
Page 21 and 22: - fidejussions granted to third par
Page 23 and 24: • Additions 145 214 1,349 227 1,9
Page 25 and 26: Receivables due from associated com
Page 27 and 28: Other receivables amount to Lire 9,
Page 29 and 30: The provision for leaving indemniti
Page 31 and 32: Subsidiary companies 31.12.00 30.06
Page 33 and 34: NOTES TO THE INCOME STATEMENT Value
Page 35: The new versions of the accounting

SAVINO DEL BENE S.p.A.

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