| (€ millions) | 2007 | 2008 | 2009 | Change | % change |
|---|
| Core business revenue |
|
1,790 |
1,902 |
2,438 |
536 |
28.2 |
|---|
| Other income |
|
78 |
8 |
30 |
22 |
|
|---|
| - of which non-recurring |
|
71 |
|
|
|
|
|---|
| Total revenue |
|
1,868 |
1,910 |
2,468 |
558 |
29.2 |
|---|
| Operating costs (*) |
|
(357) |
(399) |
(581) |
(182) |
45.6 |
|---|
| - of which non-recurring |
|
5 |
|
|
|
|
|---|
| EBITDA |
|
1,511 |
1,511 |
1,887 |
376 |
24.9 |
|---|
| Amortisation, depreciation and impairment |
|
(489) |
(489) |
(613) |
(124) |
25.4 |
|---|
| EBIT |
|
1,022 |
1,022 |
1,274 |
252 |
24.7 |
|---|
| Adjusted EBIT(**) |
|
946 |
1,022 |
1,274 |
252 |
24.7 |
|---|
| Net financial expense |
|
(200) |
(226) |
(217) |
9 |
(4.0) |
|---|
| - of which non-recurring |
|
10 |
|
|
|
|
|---|
| Net income from equity investments |
|
|
|
22 |
22 |
|
|---|
| Pre-tax profit |
|
822 |
796 |
1,079 |
283 |
35.6 |
|---|
| Income taxes |
|
(228) |
(266) |
(347) |
(81) |
30.5 |
|---|
| - of which non-recurring and other special items |
|
66 |
|
|
|
|
|---|
| Net profit(***) |
|
594 |
530 |
732 |
202 |
38.1 |
|---|
| Adjusted net profit(***) |
|
442 |
530 |
732 |
202 |
38.1 |
|---|
(*) Operating costs comprise the items "Purchases, services and other costs" and "Personnel expense" from the consolidated financial statements.
(**) To reconcile EBIT and net profit for 2007 with the corresponding adjusted values, see financial review of the directors’ report in the consolidated financial statements for 2007.
(***) Net profit is attributable to Snam Rete Gas.
Net profit
Net profit for 2009 amounted to €732 million, an increase of €202 million, or 38.1%, compared with 2008. The rise is attributable to: (i) higher EBIT (+€252 million) because of the associated effects of consolidating the acquired companies; (ii) income from equity investments (+€22 million), relating mainly to shares of the results for the period of subsidiaries and affiliates valued using the equity method; (iii) lower net financial expense (+€9 million) due mainly to a significant reduction in market interest rates. These positive factors were partially offset by an increase in income taxes (-€81 million) brought about by higher pre-tax profit (+€283 million).