Prospectus - Notowania

Total (1+2) (6,059) (5,104) (4,549) 18.7% 12.2%
The item “Miscellaneous costs and expenses" includes extraordinary expenses in the
three financial periods, forming part of the items in the preceding table, linked to
mergers with the HVB and Capitalia Groups included in the item “integration costs”
in the reclassified income statement. Said expenses amounted to € 118 million in
2006, connected to the process of integration of the HVB Group, and to € 167 million
in 2007, predominantly attributable to the merger with Capitalia. These expenses
totalled € 40 million in 2008, consistent with completion of the integration of the
different structures.
Changes in miscellaneous costs and expenses between 2007 and 2008 and between
2006 and 2007 were largely due to the other administrative expenses of the Capitalia
Group included for the entire 2008 financial year, Q4 2007 and not included in 2006
as well as the integration costs mentioned above. A comparison between 2008 and
2007 on a like-for-like basis would have involved a marginal increase. This result is
due to the growth of Poland and the CEE through the opening of new branches
(particularly, in Turkey, Russia and Bulgaria) and due to acquisitions made in Ukraine
and Kazakhstan. The other business segments recorded a decrease in administrative
expenses.
Although impacted by the Capitalia merger, the 2007 results felt the effects of the
opening of new branches in CEE countries (in particular, Turkey, Russia and
Hungary), the development, within UniCredit, of projects whose value extends across
the Group (e.g. BIS II and Treasury) and the growth in business in certain segments
(Retail and Corporate in particular).
With regards to the breakdown of administrative expenses, it should be noted that
expenses related to advertising refer predominantly to communication via mass media
(€ 213 million in 2008, € 248 million in 2007 and € 238 million in 2006). Information
communication technology costs, as well as service costs also include telephone and
data transmission costs and the use of financial service providers.
Real estate expenses relate mainly to rents payable due to leasing (€ 687 million in
2008, € 580 million in 2007 and € 506 million in 2006) as well as the maintenance of
premises.
Write-downs of property, plant and equipment and intangible assets
(in millions of Euros) Net income % Change
Net write-downs of property, plant and
equipment 12.31.2008 12.31.2007 12.31.2006 2008/2007 2007/2006
A. Property, plant and equipment
A.1 Owned (812) (837) (806) -3.1% 3.8%
- instrumental assets (735) (743) (716) -1.1% 3.8%
- for investment (77) (94) (90) -18.1% 4.4%
A.2 Acquired under financial lease (7) (4) (6) 75.0% -33.3%
- instrumental assets (7) (4) (6) 75.0% -33.3%
- for investment - - - n.a. n.a.
Total (819) (841) (812) -2.6% 3.6%
Depreciation showed a steady trend in the three years under review, whose variations
net of the integration costs cited above and based on like-for-like scope of
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