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

Half-yearly financial report at June 30, 2013Heat and services sectorEconomic dataMillions of euro 01 01 2013 01 01 2012 Change06 30 2013 06 30 2012Revenues 205 185 20Gross operating income 57 44 13% of revenues 27.8% 23.8%Depreciation, amortization and provisions (8) (18) 10Net operating income 49 26 23% of revenues 23.9% 14.1%Investments 13 19 (6)Revenues amounted to 205 million euro in the period (185 million euro in the six monthsended June 30, 2012).208Gross operating income reached 57 million euro, a rise of 13 million euro over the first half of2012. Contributing to this positive performance were the district heating segment, which inaddition to its commercial development also benefited from a per capita increase inconsumption due to the particularly cold weather, and the business of managing heatingplants owned by third parties. These positive effects were partially offset by a decrease inelectricity sales.Depreciation, amortization and provisions amounted to 8 million euro, a decrease of 10million euro over the first six months of 2012, due mainly to the release of a previouslyaccrued provision following the favorable outcome of a dispute.As a result of these changes net operating income amounted to 49 million euro (26 millioneuro in the six months ended June 30, 2012).Capital expenditure for the half year amounted to 13 million euro and related to maintenanceand development work on district heating networks (11 million euro) and cogeneration plants(2 million euro), mainly in the areas of Milan and Brescia.