The 2010 consolidated financial statements have been drawn up in accordance with the IFRS, together with the relative interpretations (IFRIC and SIC). These standards have been in force since 31 December 2010, were issued by the International Accounting Standards Board (IASB), endorsed by the European Commission in accordance with the provisions in article 6 of European Union Regulation no. 1606/2002 and implemented in Italy with Legislative Decree no. 38 of 28 February 2005.

Interpretation and adoption of the IFRS were carried out referring also to IASB’s ‘Framework for the preparation and presentation of financial statements’, even though not officially endorsed.

These consolidated financial statements are subject to certification by the delegated Board members and by the Manager responsible for financial reporting, as per article 154 bis paragraph 5 of Legislative decree no. 58 of 24 February 1998.

The consolidated financial statements are audited by KPMG S.p.A..