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01. MAIN DOCUMENTThe companies and subsidiaries division. Axeria Prévoyance is a mixed insurance companyspecializing in personal insurance. Whatever the fieldconcerned, it is a specialist in the design of made-tomeasureproduct ranges (health, personal protection,loan insurance) and risk management,. Axeria Iard (formerly Rhodia Assurances) is aninsurance company specializing in property and casualtyinsurance,. Solucia Protection Juridique is an insurance companyspecializing in legal protection;. JUDICIAL further strengthens and completes the rangeof solutions offered by Solucia Protection Juridique, thebroker and manager which is 88% owned by SoluciaProtection Juridique;. Axeria Re Ltd primarily oversees the Group's internationalinsurance and reinsurance offering;. Axeria Life International dedicates to overseeing theGroup’s international insurance and reinsurance offering.The Group also has a number of transversal economicinterest groups:. GIE APRIL Courtage;. GIE APRIL Technologies is an IT service providerspecializing in dedicated IT systems for insurance;. GIE Chateaudun;. GIE La Maison Commune;. GIE MicroReso;. GIE Multiservices: did not trade in 2009. It will be woundup in 2010.. GIE APRIL Asset Management.APRIL GROUP is an insurance solutions architect,designing products with risk to be covered by third-partyinsurers. These policies will be distributed to the endclient (individual or group) by independent or proprietarydistribution channels.As an architect of insurance services, APRIL GROUPdesigns and implements solutions for its partnerdistributors combining clear insurance offerings, rapidmanagement and high-quality relations with policyholderclients, enabling distributors to stand out from thecompetition and build client loyalty. This is where APRILGROUP’s model continues to be original on the insurancemarket, without any comparable rivals.Group companies are subject to changes in social andtax regulations in the sector for insurance and savingsproducts.1.3.1.3 :: Consolidated financial highlights(see table below)In thousand euros2005IFRS- Revenues 445,214 520,400 604,183 735,783 812,963- EBIT 83,559 96,913 104,441 96,691 87,424% of Revenues 18.77 % 18.62 % 17.29 % 13.14 % 10.75 %- Operating income 80,578* 96,794* 104,645* 95,086* 105,902*% of Revenues 18.10 % 18.60 % 17.32 % 12.92 % 13.03 %- Consolidated net income (group share) 53,836 65,074 72,111 60,575 72,701% of Revenues 12.09 % 12.50 % 11.94 % 8.23 % 8.94 %- Cash flow 67,630 86,518 114,171 212,537 149,559% of Revenues 15.19 % 16.63 % 18.90 % 28.89 % 18.40 %2006IFRS2007IFRS2008IFRS2009IFRSINFORMATIONON THE COMPANY’S ACTIVITIESPART0124SHAREHOLDERS’ EQUITY (GROUP SHARE) 195,743 242,073 294,392 314,277 396,829NET CASH 139,773 161,225 167,392 189,982 156,046* Of which, change in goodwill on acquisitions: - 2,641 thousand euros in 2005, - 52 thousand euros in 2006, 26 thousand euros in 2007, 1,405 thousand eurosin 2008 and - 276 thousand euros in 2009