The firm’s financial income position improved in 2007, with a loss of E310 million, compared to a loss of E357 million in 2006. This change resulted from the increased cost of net financial debt in 2007, which rose to E170 million, up by E47 million compared to 2006.
The decrease in losses is attributed by Gaz de France (GDF) primarily due to non-recurring costs linked to debt restructuring at AES Energia and the decrease in other financial income and expenses, which created a net expense of E140 million in 2007, as compared to E234 million in 2006. In 2007, the group’s net income amounted to E2.47 billion, up 7.6% compared to 2006.
Jean-Francois Cirelli, chairman and CEO, said: GDF has achieved an excellent performance in 2007. Despite a difficult environment early in the year, the group has exceeded its targets and is posting, for the third year running, record results with adjusted operating income of some E5.7 billion and net income group share of E2.5 billion.
