Half-yearly financial Report at June 30, 2013 - A2A

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Half-yearly financial report at June 30, 2013Summary of results, assets and liabilities and financial positionThe Group earned revenues totaling 2,845 million euro in the period, a fall over the first half of2012 (3,290 million euros) mainly due to the significant contraction in brokerage activities on themethane gas wholesale market.The main quantitative data for the six months ended June 30, 2013 contributing to the formationof these revenues with comparative figures are as follows:06 30 2013 06 30 2012Electricity sold to wholesale and retail customers (GWh) 11,231 10,562Electricity sold on the Power Exchange (GWh) 6,240 5,388Electricity sold on foreign markets (GWh) 4,930 6,169Electricity sold (GWh) - EPCG 2,208 2,168Gas sold (Mcm) 1,294 2,621Heat sold (GWht) 1,466 1,311Electricity distributed (GWh) 5,533 5,737Electricity distributed (GWh) - EPCG 1,274 1,311Gas distributed (Mcm) 1,227 1,195Water distributed (Mcm) 32 33Water purified (Mcm) 19 19Waste disposed of (Kton) 1,284 1,25317Production details 06 30 2013 06 30 2012Thermoelectric production (GWh) 3,518 3,538Thermoelectric production (GWh) - EPCG 522 471Hydroelectric production (GWh) 2,411 1,440Hydroelectric production (GWh) - EPCG 1,760 749Heat production (GWht) 1,290 1,156Electricity produced by cogeneration (GWh) 191 185Electricity sold from waste to energy and biogas plants (GWh) 557 583“Gross operating income” of 610 million euro rose by 126 million euro over the first half of2012.
Half-yearly financial report at June 30, 2013Summary of results, assets and liabilities and financial positionThe following table sets out the changes in industrial gross operating income by sector:Millions of euro 06 30 2013 06 30 2012Energy Sector 293 167Environment Sector 155 140Heat and Services Sector 57 44Networks Sector 121 134Other Services and Corporate Sector (16) (1)Total EBITDA 610 484The Energy Sector posted gross operating income of 293 million euro, a rise of 126 million euro(+75%) over the same period of the previous year.18The main reason for this increase was the good performance of the industrial portfolio, whichdespite the additional fall in demand in the second quarter of the year benefited from thegreater availability of energy produced from hydroelectric sources and the resultingconsequences on the end market and on energy forward sales platforms. The contributionmade by the trading portfolio was also positive. The EPCG Group made a contribution of 53million euro (-4 million euro in 2012), confirming the positive trend seen in the first quarter ofthe year. The sector's result also includes a provision of approximately 6 million euro made forcosts of redundancy schemes.The Environment Sector achieved a margin of 155 million euro (140 million euro in the first halfof 2012). This result includes an income component of 27 million euro relating to the previousperiod arising from the fuel cost coverage component of the CIP 6 tariff (the “CEC”)applicable for the Group's waste to energy plants; the expected reduction in this item in 2012never materialized.The Environment Sector's margin is also due to lower revenues compared to the previous perioddue to the ending of the CIP 6 convention for the waste to energy plant at Corteolona (Pavia), theloss of a number of foreign contracts completed in 2012 and the effects of legislative provisions(the Ministerial Decree of November 20, 2012 and Decree Law no. 69 of June 21, 2013, the socalled “Decreto del fare”) regarding the valuation of the CEC component for 2013.The gross operating income of the Heat and Services Sector totaled 57 million euro, a rise of 13million euro over the first half of 2012. Contributing to this positive performance were thedistrict heating segment, which in addition to its commercial development also benefited froma per capita increase in consumption due to the particularly cold weather and the business ofmanaging heating plants owned by end customers.
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Certification of thecondensed half-
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IndipendentAuditor’s report
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Half-yearly financial Report at June 30, 2013 - A2A

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