Income statement

 
 
2010 2011
(€ million) Note Total of which with related parties Total of which with related parties
REVENUES  
 
 
 
 
Net sales from operations (32) 11,160 2,726 12,593 2,613
Other income and revenues (33) 17 - 38 3
Total revenues  
11,177  
12,631  
Operating expenses  
 
 
 
 
Purchases, services and other costs (34) (7,714) (106) (8,749) (209)
Payroll and related costs (35) (1,627)  
(1,750)  
Depreciation, amortization and impairment (36) (517)  
(642)  
Other operating income (expense) (37) - - 3 3
OPERATING PROFIT  
1,319  
1,493  
Finance income (expense)  
 
 
 
 
Finance income  
851 - 524 4
Finance expense  
(995) (53) (586) (93)
Derivative financial instruments  
34 30 (71) (62)
Total finance income (expense) (38) (110)  
(133)  
Income (expense) from investments  
 
 
 
 
Share of profit of equity-accounted investments  
-  
16  
Other gain (loss) from investments  
30  
3  
Total income (expense) from investments (39) 30  
19  
PROFIT BEFORE INCOME TAXES  
1,239  
1,379  
Income taxes (40) (345)  
(392)  
NET PROFIT  
894  
987  
Attributable to:  
 
 
 
 
- Saipem  
844  
921  
- minority interest (41) 50  
66  
Earnings per share attributable to Saipem (€ per share)  
 
 
 
 
Basic (42) 1.93  
2.10  
Diluted (42) 1.92  
2.09  
Statement of comprehensive income
(€ million) Dec. 31, 2010 Dec. 31, 2011
Net profit 894 987
Other items of comprehensive income:  
 
- change in the fair value of cash flow hedges (1) (94) (69)
- investments carried at fair value - (1)
- exchange rate differences arising from the translation into euro of financial statements currencies other than euro 52 45
- other changes 1 -
- income tax relating to other items of comprehensive income 20 6
Other items of comprehensive income (21) (19)
Total comprehensive income 873 968
Attributable to:  
 
- Saipem Group 818 897
- minority interest 55 71
(1) The change in the fair value of cash flow hedges relates almost exclusively to transactions with the parent company Eni.