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

Half-yearly financial report at June 30, 2013Environment sectorapplicable to 2012; this provided for a reduction of the CEC component of the CIP 6/92 price totake account of the level of prices on the gas market.Reduced revenues relating to the sale of electricity produced by plants falling under the CIP/6regime were recognized in the financial statements for the year ended December 31, 2012 onthe basis of the above opinion. With reference to 2013, this subject is governed by the so called“Decreto del fare” which is shortly to be converted into law.The Environment Sector's margin is also due to lower revenues compared to the previous yeararising from the ending of the CIP/6 convention for the waste to energy plant at Corteolona(Pavia), as the result of the loss of a number of foreign contracts concluded in 2012 and theeffects of legislative provisions (the Ministerial Decree of November 20, 2012 and Decree Lawno. 69 of June 21, 2013, so called “Decreto del fare”) regarding the valuation of the CECcomponent for 2013.Depreciation, amortization and provisions amounted to 32 million euro, a decrease of 11million euro over the figure for the first six months of 2012. This difference is due for 5 millioneuro to lower depreciation and amortization and for 6 million euro to reduced provisions forrisks.205As a consequence of the above changes net operating income amounted to 123 million euro(97 million euro for the six months ended June 30, 2012).Capital expenditure in the period totaled 18 million euro and related to collection vehicles andcontainers (7 million euro) and maintenance and development work on treatment plants andlandfills (7 million euro) and on waste to energy plants (4 million euro).