Financial accounts
Financial Accounts 2010 (in italian only) Consolidated Financial Accounts 2010 (in italian only)
On 28th June 2011 the Shareholders Meeting approved the financial accounts for the financial year as at 31st December 2010 that showed a profit of 853 thousend euro net of depreciation of 13,272 milion uro and tax reserves of Euro 3,346 milion euro.
| FINANCIAL DATA BY YEARS | |||
| thousands of € | 2010 | 2009 | 2008 |
| Value of production | 260,507 | 236,930 | 254,292 |
| EBITDA | 19,691 | 16,963 | 16.295 |
| EBIT | 6,419 | 4,442 | 6,573 |
| Result before tax | 4,199 | 2,760 | 2,602 |
| Net result | 853 | 263 | 139 |
| VALUE OF PRODUCTION BY LINE OF BUSINESS AND YEAR | |||
| Engineering | 147,043 | 123,013 | 145,315 |
| Integrated Water Service | 113,464 | 113,917 | 108,977 |
| ASSET DATA | |||
| Net fixed assets | 187,064 | 182,577 | 150,485 |
| Net financial position | (123,970) | (134,189) | (105,725) |
| Net assets | 38,090 | 37,237 | 36,973 |
| Capital invested | 162,059 | 171,426 | 142,698 |
| ROS (EBIT/value of production) | 2.5% | 1.9% | 2.6% |
| ROI (EBIT/capital invested) | 4.0% | 2.6% | 4.6% |
| ROE (EBIT/net assets) | 16.9% | 11.9% | 17.8% |
Net revenue, which stood at Euro 260 million, was made up of 147 million for Engineering sector activities and 113 million from operating the Water Service. Revenue from the Engineering sector, which was up by Euro 24 million compared to the 2009 financial year, was mainly due to the final designs for the extensions of the metro lines, and direction of works for completion of the works related to extending Line 2 and Line 3 of the Metro in Milan, and other important transport works. Revenue from the Water Service remained stable despite the drop in consumption that took place during the year. This was due to a tariff increase implemented as from September 2010. The improvement in the operating result is due to the combined effect of increase in revenue from the Engineering sector and containing operating costs throughout the Company. The "labour cost" item, which includes remuneration, social burdens, reserves for severance pay, and other personnel expenses, remained substantially stable over recent financial years. The net financial position as at 31st December 2010 was a loss of Euro 123,9 million (132,4 in 2009).
Financial Accounts 2009 (in italian only) Consolidated Financial Accounts 2009 (in italian only) Financial Accounts 2008 (in italian only)