Result of discontinued operations and assets held for sale

Net profit deriving from discontinued operations and assets held for sale amounts to €112.7 million and relates to the extraordinary sales of the companies of the photovoltaic sector (€50.6 million for the share relating to Rete Rinnovabile S.r.l. and €28.3 million for NRTS S.r.l.) in addition to the reversal of the hold-harmless guarantee issued in relation to the sale of the Brazilian subsidiaries (€33.8 million). The previous financial year figure, amounting to €146.9 million, basically included the net margin for 2010 obtained on photovoltaic plants sold with the subsidiary Rete Rinnovabile.