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11 Capitalised costs

Increases for internally-constructed fixed assets79,990248,530-168,540

The decrease in this item is mainly due to the total spin-off of the Territorial Operating Companies (TOC). As a result, the service contract for performance of works by said TOCs, on behalf of the parent company, works which were then capitalised by Hera Spa, was terminated.

This item also includes personnel costs and financial charges, for Euro 33,921 thousand (Euro 4,598 thousand as at June 2008) and Euro 9,726 thousand (Euro 11,855 thousand as at June 2008), respectively. Please see the notes on the balance sheet assets (tangible fixed assets and intangible assets) and the Report on Operations for the related analysis.

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