Main financial and non-financial indicators

Consolidated income statement
(in €m)	2010	2009	% change
Income from sales and services	1,558.3	1,540.1	1.2%
Personnel costs	271.5	302.8	(10.3%)
Cost of sales and management (1)	1,143.2	1,133.4	0.9%
Income (charges) from investments accounted for using the equity method	(3.4)	2.3	n.s.
Gross operating profit	140.2	106.2	32.0%
*- as a proportion of revenues*	*9.0%*	*6.9%*
Depreciation of property, plant and machinery	12.8	13.5	(5.2%)
Amortisation of intangible assets	13.2	20.9	(36.8%)
Operating profit	114.2	71.8	59.1%
*- as a percentage of revenues*	*7.3%*	*4.7%*
Net financial income (charges)	(23.9)	(7.9)	202.5%
Other financial income (charges)	-	-	-
Profit before taxation	90.3	63.9	41.3%
Tax charges	47.6	29.0	64.1%
Minority interests	(0.6)	(0.6)	-
Net profit	42.1	34.3	22.7%

¹ Includes the following items: reduction (increase) in inventory; cost of raw, ancillary and consumable materials and goods; cost of services; various charges (income).

Consolidated revenues amounted to €1,583 million, an increase of 1.2%.

Revenue breakdown by business area
(in €m)	2010	2009	% change
Books	413.9	423.1	(2.2%)
Magazines Italy	471.4	491.8	(4.1%)
Magazines France	344.2	343.5	0.2%
Advertising services	233.9	250.4	(6.6%)
Direct & Retail	279.7	214.8	30.2%
Radio	14.5	13.8	5.1%
Corporate and other business	19.0	17.6	8.0%
Total revenues	1776,6	1,775.0	1.2%
Intergroup revenues	(218.3)	(214.9)	1.6%
Total consolidated revenues	1,558.3	1,540.1	1.2%

The following table provides details of consolidated revenues by geographical region.

Revenues by geographical region
(in €m)	2010	2009	% change
Italy	1,181.5	1,172.7	0.8%
France	328.2	328.6	(0.1%)
Other EU countries	39.3	31.7	24.0%
USA	0.4	0.4	-
Others	8.9	6.7	32.8%
Total consolidated revenues	1,558.3	1,540.1	1.2%