ERG Site | Financial data

Contacts

ERG S.p.A. - Genoa

Paolo Merli

Head of Corporate Finance, Control & Investor Relations

Phone: +39 010 2401376

ERG S.p.A. - Genoa

Emanuela Delucchi

Head of Investor Relations

Phone: +39 010 2401806

ERG S.p.A. - Genoa

Matteo Bagnara

Investor Relations

Phone: +39 010 2401423

ir@erg.it

Financial data

Main economic data:	2010	2009	2008	2007	2006	2005	2004
Total Revenues ⁽¹⁾	7,899	6,237	11,563	10,206	9,303	9,029	6,380
EBITDA	238	229	117	552	442	869	583
EBITDA at replacement cost ⁽²⁾	213	22	536	361	463	633	503
Adjusted EBITDA at replacement cost ⁽³⁾	305	92	540	361	463	633	503
EBIT at replacement cost ⁽²⁾	59	(115)	335	176	305	477	354
Adjusted EBIT at replacement cost	86	(92)	336	176	305	477	354
net profit (loss)	43	45	649	192	194	421	224
of which Group net profit (loss)	10	7	646	171	153	385	194
Group net profit (loss) at replacement cost ⁽⁴⁾	(20)	(80)	84	39	103	230	144
Revenues from ordinary operations:
Refining & Marketing	9,175	6,475	12,261	10,851	9,747	9,505	6,596
Thermoelectric power generation	1,384	998	1,191	861	830	781	653
Renewable energy sources	73	50	45	37	9	0	0
Corporate	16	23	26	23	19	18	24
Interdivisional revenues	(1,712)	(1,435)	(2,012)	(1,606)	(1,476)	(1,345)	(920)
Total	8,935	6,111	11,512	10,166	9,128	8,958	6,353
EBITDA:
Refining & Marketing⁽⁵⁾	46	45	375	204	276	472	347
Thermoelectric power generation	254	55	181	166	207	183	169
Renewable energy sources	39	23	17	19	7	0	0
Corporate	(33)	(32)	(33)	(28)	(27)	(22)	(12)
Adjusted EBIT at replacement cost ⁽³⁾	305	92	540	361	463	633	503
51% contribution of ISAB srl at replacement cost	(80)	(69)	(5)	0	0	0	0
51% contribution of TotalErg at replacement cost	(13)	0	0	0	0	0	0
EBITDA at replacement cost⁽²⁾	213	22	536	361	463	633	503
Gain (losses) on inventory	62	86	(364)	221	(28)	208	80
Non characteristic items ⁽⁶⁾	(38)	121	(54)	(31)	7	28	-
Total	238	229	117	552	442	869	583
EBIT:
Refining & Marketing⁽⁵⁾	(61)	(53)	254	95	179	373	253
Thermoelectric power generation	179	1	121	106	152	128	115
Renewable energy sources	5	(4)	(4)	6	4	0	0
Corporate	(37)	(36)	(35)	(31)	(29)	(24)	(14)
Adjusted EBIT at replacement cost ⁽³⁾	86	(92)	336	176	305	477	354
51% contribution of ISAB srl at replacement cost	(28)	(23)	(1)	0	0	0	0
51% contribution of TotalErg at replacement cost	1	0	0	0	0	0	0
EBIT at replacement cost ⁽²⁾	59	(115)	335	176	305	477	354
Capital expenditures⁽⁷⁾
Refining & Marketing	100	116	157	195	221	214
Thermoelectric power generation	77	200	141	149	140	58
Renewable energy sources	89	89	52	33	2	0
Corporate	4	2	5	4	3	3
Total Adjusted capital expenditures	270	407	354	380	365	274
ISAB s.r.l. capital expenditures (51%)	(49)	(60)	(4)	0	0	0
TotalErg capital expenditures (51%)	(21)	0	0	0	0	0
Total capital expenditures	201	347	351	380	365	274
Main financial data
Net Invested capital	2,614	2,591	2,299	2,837	2,754	1,977	1,783
Shareholders' capital	1,891	1,929	2,024	1,459	1,398	1,209	900
Total net financial debt	723	662	274	1,378	1,356	769	883
of which non-recourse project financing ⁽⁸⁾	793	324	325	368	393	424	348
Dividend per share in circulation ⁽⁹⁾	0.40	0.40	0.40	0.40	0.40	0.40	0.40
Financial leverage	28%	26 %	12%	49%	49%	39%	50%
Total adjusted net financial indebtedness⁽¹⁰⁾	1,082	586	212	na	na	na	na

(1) net of excise taxes.

(2) EBITDA and EBIT at replacement cost do not include inventory gains (losses) and non characteristic items.

(3) The adjusted EBIT and EBITDA at replacement cost also include the contribution, as regards ERG share (51%), of the results of ISAB S.r.l. (joint venture with LUKOIL) and TotalErg (joint venture with Total)

(4) Group net profit at replacement cost does not include inventory gains (losses),non-recurring items and applicable theoretical taxes. The values also correspond to the adjusted ones.

(5) The adjusted results at replacement cost include the contribution, as regards ERG share (51%), of the results of ISAB S.r.l. (joint venture with LUKOIL) and TotalErg (joint venture with Total)

(6) Non characteristic items include significant but unusual earnings.

(7) Capital expenditures on tangible and intangible fixed assets

(8) including cash and cash equivalents.

(9) dividend distributed during the year.

(10) It also includes the contribution of ISAB S.r.l. (joint venture con LUKOIL) and TotalErg (joint venture con Total) results, for the portion attributable to ERG (51%)