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

Half-yearly financial report at June 30, 2013Energy sectorGross operating income of 293 million euro rose by 126 million euro over the first six monthsof 2012. The main reasons for this increase was the good performance of the industrialportfolio, which despite the additional fall in demand in the second quarter of the yearbenefited from the greater availability of energy produced from hydroelectric sources andthe resulting consequences on the end market and on energy forward sales platforms. Thecontribution made by the trading portfolio was also positive. The EPCG Group made acontribution of 53 million euro to the result (-4 million euro in 2012), confirming the positivetrend seen in the first quarter of the year. The sector's result includes a provision ofapproximately 6 million euro made for the cost of redundancy schemes.Depreciation, amortization and provisions totaled 172 million euro, of which 90 million eurorelating to Edipower S.p.A. (the sector had charges for depreciation, amortization andprovisions of 93 million euro in the six months ended June 30 2012 of which 17 million eurorelating to Edipower S.p.A.). The increase in this item of 79 million euro is mainly due to theconsolidation of Edipower S.p.A. for the whole of the first half year in 2013.202As a result of the above changes, net operating income amounted to 121 million euro (74million euro for the six months ended June 30, 2012).Capital expenditure for the period totaled 31 million euro and mainly regarded extraordinarymaintenance at the thermoelectric plants at Cassano d’Adda (0.3 million euro), Gissi (1.1million euro) and Monfalcone (1.6 million euro).Extraordinary maintenance was also carried out at the hydroelectric plants at Timpagrande(0.6 million euro), Orichella (3.0 million euro) and in the Valtellina (0.8 million euro).For Edipower S.p.A., investments mainly relate to modernization work at the hydroelectricplants at Somplago, Chiavenna, Ampezzo and Tusciano (for a total of 7.6 million euro) and atthe thermoelectric plants at Piacenza, Turbigo, Brindisi and Chivasso (for a total of 5.3 millioneuro).The EPCG Group made investments of 2.5 million euro at the thermoelectric plant at Pljevlja(1.9 million euro) and the hydroelectric plants at Perucica (0.3 million euro) and Piva (0.3million euro).