Hera Group – Consolidate Half-Year Financial Report as at 30 June 2015
4
Other operating revenues
First half
2015
First half
2014
Change
Long-term contract
91,745
78,360
13,385
White certificates
23,064
22,970
94
Operating grants and grants for separated w aste collection
14,021
11,903
2,118
Apportionments of operating grants
3,924
3,637
287
Cost refunds
1,789
1,814
(25)
Uses of and releases from provisions
3,741
3,996
(255)
Leases
1,555
1,200
355
412
733
(321)
1,024
823
201
Insurance reimbursements
Sales of material and inventories to third parties
Gains on disposal
Other revenues
Total
444
161
283
14,160
13,636
524
155,879
139,233
16,646
"Long-term contracts" include revenues generated from the construction or improvement of infrastructures
held under concession arrangements, in application of IFRIC 12. The change compared to the first half of 2014 is
mainly due to an increase in investments, see the more detailed comments outlined in the management
report.
“White certificates” show the revenues recorded for the Compensation Fund of the electricity sector, after energy goals
were attained.
"Operating grants and grants for separated waste collection" include operating grants, amounting to €2,343
thousand (€2,097 thousand as of the first half of 2014), mainly comprising incentives provided by the GSE for the
production of energy from renewable sources and contributions from sorted waste collection in the amount of 11,678
thousand euro (9,806 thousand euro as of the first half of 2014) mainly comprising the value of packaging (cardboard,
iron, plastic and glass) transferred to the Conai consortia.
The entirety of the item “Use and re-assessment of provisions” refers to labour costs, percolate disposal and vehicle
hours. Beginning for the financial year ending 31 December 2014, the choice was to report only uses in “other operating
revenues”, while, in the interest of greater clarity, re-assessments for excess provisions were classified to correct their
associated provisions (see note 8, Amortizations and Provisions).
The item Capital grant contributions represents the proceeds from the amortization of the assets subject to contributions.
“Other revenues” include mainly cost recoveries in relation to environmental, electricity and gas services.
Approved by the Hera Spa Board of Directors on 26 august 2015
89
Hera Group – Consolidate Half-Year Financial Report as at 30 June 2015
5
Use of raw materials and consumables
First half
2015
First half
2014
Change
Electricity ready f or sale
506,826
455,612
51,214
Methane ready for sale and LPG net of change in stocks
477,044
423,191
53,853
Maintenance materials net of changes in stocks
29,140
29,672
(532)
Electricity for industrial use
26,699
19,417
7,282
White, green an grey certif icates
21,123
18,235
2,888
Water
20,976
20,712
264
Heat management combustible materials
9,159
2,884
6,275
Fuels and lubricants
8,042
8,383
(341)
Chemical products
7,820
6,726
1,094
Methane for industrial use
4,821
3,066
1,755
Charges and revenues f rom derivatives
(2,123)
784
(2,907)
Charges and revenues f rom certificate valuation
(8,637)
(8,119)
(518)
Consumables and sundry
Total
3,044
7,709
(4,665)
1,103,934
988,272
115,662
For an analysis of the trend in the costs of raw materials and consumables, please see the management report and the
report by business area contained in section 1.02.
For the item Charges and revenues from derivatives, please see note 22 of the financial position.
The item White, gray and green Certificates includes the purchase cost of the various types of environmental certificates
incurred during the first half of 2015. In particular:
• 20,418 thousand euro for white certificates (16,787 thousand euro in 2014);
• 558 thousand euro for gray certificates (851 thousand euro in 2014);
• 147 thousand euro for green certificates (597 thousand euro in 2014).
The change from the previous year was due to the different purchasing requirements in view of the Group’s certificate
needs.

The item Charges and revenues from certificate valuation reflects the valuation of certificates in stock, particularly:
white, expenses of euro 226 thousand (expenses of euro 367 thousand in 2014)

green, expenses of euro 9,698 thousand (revenues of euro 8,140 thousand in 2014);

grey, expenses of euro 835 thousand (revenues of euro 346 thousand in 2014);
Approved by the Hera Spa Board of Directors on 26 august 2015
90