PDF (3.77 Mo) - Le Crédit Agricole
PDF (3.77 Mo) - Le Crédit Agricole
PDF (3.77 Mo) - Le Crédit Agricole
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Crédit <strong>Agricole</strong> S.A.Update of the 2011 registration document - A037- Corporate centre(in millions of euros)H1 2012 H1 2011Change2012/2011Revenues (214) (275) (22.0%)Operating expenses, depreciation and amortisation (437) (462) (5.7%)Gross operating income (651) (737) (11.7%)Cost of risk (10) (36) (76.3%)Share of profit in equity-accounted entities (52) 1 nmNet income on other assets and change in value ofgoodwill(4) (1) x6.1Pre-tax income (717) (773) (7.5%)Income tax 4 257 (98.5%)NET INCOME (713) (522) +36.2%NET INCOME GROUP SHARE (800) (610) +30.8%In the first half of 2012, revenues showed a loss of -214 million euros compared with a loss of -275 millioneuros in the first half of 2011. This includes a gain relating to a buyback of hybrid securities in February2012, which generated revenues of 864 million euros (552 million euros in net income Group share), as wellas unfavourable contributions such as capital losses on the disposal of securities of 93 million euros duringthe first quarter and an impairment charge of 427 million euros relating to Intesa Sanpaolo shares during thesecond quarter.It is worth noting that the first half of 2011 incorporated high revenues from financial management due to thesharp rise in the return on inflation-indexed assets.Furthermore, operating expenses fell by 5.7% year-on-year in the first half of 2012.In all, Corporate Centre generated negative net income Group share of -800 million euros in the first half of2012 compared with -610 million euros in the first half of 2011.Page 94 sur 237