Prospectus - Notowania

Gross profit therefore stands at € 5,458 million, posting a 48.1% reduction compared
to the reconstructed figure for December 2007, resulting from a contraction in the
Markets & Investment Banking and Asset Management business segments which
were offset by the results of Retail and CEE.
The change in the gross profit of the Retail business segment (+44.0%) is the
combined result of the trends linked to volumes and rates apparent in the first months
of 2008, which allowed a constant level of profitability to be maintained, and of the
strict control of operating costs as well as of the income from investments which
partially offset the greater write-downs of loans recorded (€ +229 million). The
Corporate segment offsets the greater allocations linked to transactions in derivatives
and the integration costs with the sale of non strategic assets and an improvement in
net write-downs of loans. Asset Management and Markets & Investment Banking
delivered results that are more noticeably negative above all by virtue of the trends
that contributed to the operating profit illustrated above. The growth in the CEE
segment is explained by the expansion in operations which fully offset the effects of
the greater write-downs recorded in the year.
Consolidated Income Statement for the Nine-Month Periods as at September 30,
2009 and as at September 30, 2008
An illustration is provided below of the Group’s economic performance with regard to
the first nine months of the year 2009. In order to be able to represent the changes
occurring on the basis of more comparable information, the reclassified income
statement as at September 30, 2009 is compared with the figures for the same period
of the previous year. The data as at September 30, 2008 have been taken from the
Consolidated Interim Report as at September 30, 2009 included through reference of
the Prospectus, and fully available on the website www.unicreditgroup.eu, represents
the latest expression of the PPA activities linked to the aggregation with the Capitalia
Group. Therefore, the data as at September 30, 2008 were not subject to auditing, but
the methods for restating this data, as regards to the write-downs made, were
examined by the External Auditors for the purpose of the limited audit of the
Consolidated Condensed Financial Statements as at September 30, 2009 and included
in the Consolidated Interim Report as at that date.
The Consolidated Condensed Financial Statements as at September 30, 2008 drawn up
for the purposes of the “Prospectus regarding the offer in option to shareholders and
the admission to listing on the Electronic Stock Market organised and managed by
Borsa Italiana S.p.A., on the Frankfurt Stock Exchange (Frankfurter
Wertpapierbörse) and on the Warsaw Stock Exchange (Gielda Papierów
Wartościowych w Warszawie SA) of 972,225,376 ordinary shares of UniCredit S.p.A.”
dated December 23, 2008, were subject to limited audit by the External Auditors,
which issued their report on December 18, 2008.
(in millions of Euro) % Change
RECLASSIFIED CONSOLIDATED INCOME
STATEMENT 09.30.2009 09.30.2008 2009/2008
Net interest 13,287 13,550 -1.9%
Dividends and other income from equity investments 221 579 -61.8%
Net interest income 13,508 14,129 -4.4%
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