Income statement

  2012 2012 restated (1) 2013 
(€ million)Note Totalof which with related partiesTotalof which with related partiesTotalof which with related parties
REVENUES              
Net sales from operations  (N.32) 13,369  2,172  13,124  2,172  12,256  1,935 
Other income and revenues  (N.33) 17  - 17  - 177  14 
Total revenues    13,386    13,141    12,433   
Operating expenses               
Purchases, services and other costs  (N.34) (9,138)  (181)  (9,138)  (181)  (9,243)  (337) 
Payroll and related costs  (N.35) (2,041)    (2,032)    (2,320)  (2) 
Depreciation, amortisation and impairment  (N.36) (726)    (726)    (724)   
Other operating income (expense)  (N.37) - - - -
OPERATING PROFIT    1,481    1,245    147   
Finance income (expense)               
Finance income    346  346  656  10 
Finance expense    (568)  (109)  (575)  (109)  (798)  (128) 
Derivative financial instruments    74  72  74  72  (48)  (48) 
Total finance income (expense)  (N.38) (148)    (155)    (190)   
Income (expense) from investments               
Share of profit of equity-accounted investments    17    17    13   
Other gains (losses) from investments    (1)    (1)    -  
Total income (expense) from investments  (N.39) 16    16    13   
RESULT BEFORE INCOME TAXES    1,349    1,106    (30)   
Income taxes  (N.40) (393)    (393)    (106)   
NET RESULT    956    713    (136)   
Attributable to:               
- Saipem    902    659    (159)   
- minority interest  (N.41) 54    54    23   
Earnings (loss) per share attributable to Saipem (€ per share)               
Basic earnings (loss) per share  (N.42) 2.05    1.50    (0.36)   
Diluted earnings (loss) per share  (N.42) 2.05    1.50    (0.36)   

(1) Includes the effects of the application of the new provisions of IAS 19.

Statement of comprehensive income

 (€ million)   2012  2012 restated (1)   2013 
 Net profit (loss) for the year    956   713   (136) 
 Other items of comprehensive income        
 Items that will not be reclassified subsequently to profit or loss:       
 - remeasurements of defined benefit plans for employees    -   (19)   12 
 - income tax relating to items that will not be reclassified    -   6   (3) 
 Items that may be reclassified subsequently to profit or loss:        
 - change in the fair value of cash flow hedges (2)    131   131   45 
 - exchange rate differences arising from the translation into euro of financial statements currencies other than the euro    (33)   (33)   (95) 
 - income tax relating to items that may be reclassified    (24)   (24)   (8) 
 Total other items of comprehensive income net of taxation    74   61   (49) 
 Total comprehensive income (loss) for the year    1,030   774   (185) 
 Attributable to:        
 - Saipem Group    979   723   (204) 
 - minority interest    51   51   19 

(1) Includes the effects of the application of the new provisions of IAS 19.
(2) The change in the fair value of cash flow hedges relates almost exclusively to transactions with the parent company Eni.