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Analysis of the Integrated Water Cycle Area

At the end of 2011, the Integrated Water Cycle segment was growing in economic and quantitative terms:

(€ million)31-dic-1031-dic-11Abs. Change% Change
Segment EBITDA142.0150.2+8.2+5.8%
Group EBITDA607.3644.8+37.5+6.2%
Percentage weighting23.4%23.3%-0.1 p.p. 

An analysis of the operating results in the segment is given below:

Income Statement (€ million)31-dic-10% inc.31-dic-11% inc.Abs. Change% Change
Revenues579.2 596.7 +17.5+3.0%
Operating costs(344.7)-59.5%(347.3)-58.2%+2.6+0.8%
Personnel costs(105.2)-18.2%(106.1)-17.8%+0.9+0.9%
Capitalised costs12.82.2%6.91.2%-5.9-46.2%

Revenues, equal to €596.7 million, increased by 3.0% compared with 31 December 2010, through the effect of increased revenues and volumes covered by these services.

Operating costs increased by 0.8% compared with the same period in the previous year, which, as demonstrated in previous quarters, is showing constant attention to operating efficiency.

The following table reproduces the main quantitative indicators in the segment.

Quantitative data31-dic-1031-dic-11Abs. Change% Change
Number of customers (thousands of units)1,173.31,184.2+10.9+0.9%
Volumes sold (millions of m³)    
Mains supply250.8253.7+2.9+1.2%

Volumes of water supplied and sewerage are higher than in 2010 by 1.2%, while purification volumes, although on the increase, were affected, in the Pesaro-Urbino area, with effect from 1 January 2011, by AATO resolution no. 14 of 13 September 2010, which does not include customers whose sewage systems are not connected to a central purification system under purification volumes.

The number of contracts compared with the previous year increased through the effect of inertial growth.

EBITDA stood at €150.2 million at 31 December 2011, against€142.0 million the previous year, a percentage increase of 5.8% due to greater sales volumes and revenues covering the services supplied.

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