Performance highlights

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ERG to hold fourth quarter and full year 2013 results

The conference call is scheduled for 15.00 Italian time (14.00 UK time) on Wednesday, March 12, 2014.

Main Income Statement data	(Eur million)	Year 2013	Year 2012
Total revenues ⁽¹⁾		7.076	8.288
EBITDA		380	332
EBITDA at replacement cost ⁽²⁾		493	346
EBITDA at adjusted replacement cost ⁽³⁾		569	458
EBIT at replacement cost ⁽²⁾		283	197
EBIT at adjusted replacement cost ⁽³⁾		278	216
Net income		85	200
of which Group net income		28	151
Group net profit (loss) at adjusted replacement cost ⁽⁴⁾		38	12
Main Financial data
Net invested capital		2.821	2.484
Shareholders' Equity		2.014	1.971
Total net financial indebtedness		807	513
of which non-recourse Project Financing ⁽⁵⁾		1.362	789
Financial leverage		29%	21%
Total net adjusted financial indebtedness ⁽⁶⁾		1.015	722
Operating data
Installed capacity at period end - wind farms	MW	1.340	596
Electric power generation from wind farms	milions of KWh	2.403	1.222
Installed capacity - thermoelectric plants ⁽⁷⁾	MW	1.008	1.008
Electric power generation from thermoelectric plants	milions of KWh	6.805	6.997
Total sales of electric power	milions of KWh	10.631	9.074
Italian Retail sales⁽⁸⁾	thousands of tonnes	1.544	1.642
TotalErg Retail market share	gasoline + diesel	11,3%	11,2%
ERG Oil Sicilia Retail market share ⁽⁹⁾	gasoline + diesel	0,8%	1,0%
Raw material and product inventories ⁽¹⁰⁾	thousands of tonnes	360	726
Refinery Processing⁽⁸⁾	thousands of tonnes	2.922	6.444
Refinery Processing ⁽⁸⁾	thousands of barrels/day	59	130
Capital expenditures ⁽¹¹⁾	EUR milions	74	77
Employees at period end	Units	778	613
Market indicators
Reference price of electricity ⁽¹²⁾	Eur/MWh	63,0	75,5
Green Certificates sale price (renewables)	Eur/MWh	89,3	80,3
Sale price of CIP6 (Thermoelectric - ISAB Energy)	Eur/MWh	118,7	122,7
Sicily zone price	Eur/MWh	92,0	95,3
Brent Dated	USD/barrel	108,7	111,7
EMC refining margin	USD/barrel	(2,1)	0,2
EUR/USD rate	EUR/USD	1,328	1,285

For the definition and reconciliation of results to adjusted replacement cost, please refer to the section "Alternative performance indicators".
⁽¹⁾ net of excise taxes
⁽²⁾ not including inventory gains (losses) and non-recurring items
⁽³⁾ adjusted values also include the contribution, attributable to ERG, of the results of TotalErg (joint venture with Total) ⁽⁴⁾ does not include inventory gains (losses), non-recurring items and related applicable theoretical taxes. The values also match the adjusted ones
⁽⁵⁾ including cash and cash equivalents and excluding the fair value of the related derivatives to hedge interest rates ⁽⁶⁾ it also includes the contribution attributable to ERG of the net financial position of the joint venture
⁽⁷⁾ installed capacity at the end of the period
⁽⁸⁾ estimated data. Including 51% of TotalErg
⁽⁹⁾ related to the sales outlets of the wholly owned subsidiary ERG Oil Sicilia
⁽¹⁰⁾ including ERG's share of the inventories of the TotalErg joint venture . In 2012, it also included ERG's share of the ISAB inventories
⁽¹¹⁾ in tangible and intangible fixed assets
⁽¹²⁾ Single National Price

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