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Is it true to say that your results do not seem to be affected by the economic and financial crisis?

The impact of the economic and financial crisis is difficult to read. Our analysis shows a drop in consumption, though of little significance as yet, in 2008. The overall growth through market expansion, tariff adjustment, constant efficiency research and the contribution of new plants have more than absorbed the effects of the crisis. The analysis conducted in the first few months of 2009 continues to show a crisis impact below the national average. The financial crisis has had no effect because the Group has a solid financial structure and a fixed-rate debt. Furthermore, the debts due to be paid in the next few years are completely hedged by dedicated credit facilities of Euro 350 million.

 
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