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Income statement

     2009   2010
(€ million) NoteTotal of which with
related parties
Total of which with
related parties
REVENUES
         
Net sales from operations
(N.32) 10,292 1.875 11,160 2,726
Other income and revenues
(N. 33) 27   17  
Total revenues
  10,319   11,177  
 Operating expenses
         
Purchases, services and other
(N. 34) (7,233) (86) (7,714) (106)
Payroll and related costs
(N. 35) (1,483)   (1,627)  
Depreciation, amortisation and  impairment
(N. 36) (440)   (517)  
Other operating expenses
  (7) (7) - -
OPERATING PROFIT
  1,156   1,319  
Finance income (expense)
         
Finance income
  1,101 13 851 -
Finance expense
  (1,116) (56) (995) (53)
Derivative financial instruments
  (85) 56 34 30
Total finance income (expense)
(N. 37) (100)   (110)  
Income (expense) from investments          
Share of profit of equity- accounted investments
  7   -  
Other gain from  investments   -   30  
Total income (expense) from investments
(N. 38) 7   30  
PROFIT BEFORE INCOME TAXES
  1,063   1,239  
Income taxes
(N.39) (288)   (345)  
NET PROFIT
  775   894  
Attributable to:          
- Saipem   732   844  
- minority interest
(N.40) 43   50  
Earnings per share attributable to Saipem (€ per share)
         
Basic
(N.43) 1.68   1.93  
Diluted (N.43) 1.66   1.92  

Statement of comprehensive income
(€ million) Dec. 31, 2009 Dec. 31, 2010
Net profit (loss) for the year
775 894
Other items of comprehensive income:
   
- change in the fair value of cash flow hedges (1) 193 (94)
- investments carried at fair value
1 -
- exchange rate differences arising from the translation into euro of financial statements currencies other than the euro
(8) 52
- gain on disposal of a business unit accounted for directly to equity
- 14
- other changes
- 1
- income tax relating to other items of comprehensive income
(26) 16
Other items of comprehensive income
160 (11)
Total comprehensive income
935 883
Attributable to:
   
- Saipem Group
894 828
- minority interest
41 55
(1) The change in the fair value of cash flow hedges relates almost exclusively to transactions with the Parent Company Eni.