|1||Total operating revenue||2009||2010|
|Revenue from energy sales||1,886,299||2,162,400|
|Profit from held – for – trading positions1)||17,738||45,255|
|Total net revenue||1,904,037||2,207,655|
|Own costs capitalised||12,755||14,787|
|Income from the sale of associates and Group companies||69||2,520|
|Gain from the sale of property, plant and equipment||331||17,184|
|Revenue from other operating activities2)||42,126||25,146|
|Other operating income||42,526||44,850|
|1) Income from held – for – trading positions||2,728,673||3,370,307|
|Expenses for held – for – trading positions||-2,710,935||-3,325,052|
|Profit from held – for – trading positions||17,738||45,255|
2) Primarily income from services rendered not stemming from core business.
During the first six months of 2010, both the size and the number of staff involved in energy profile business increased. One part of the profile business was initially classified as own use instead of held-for-trading. This resulted in an error as at 30 June 2010, leading to the reporting of net sales being CHF 226 million higher than it should have been and to the reporting of energy procurement being CHF 222 million higher than it should have been. Adjusting the unrealised income would have lowered the pre-tax income by CHF 4 million to CHF 18 million as at 30 June 2010 (instead of CHF 22 million). The impact on earnings per share would have been CHF -1.06 and accordingly would have been CHF 4.18 (instead of CHF 5.24).
The result would have been an overstatement of CHF 16 million in positive replacement values for held-for-trading positions in the balance sheet as at 30 June 2010. The negative replacement values for held-for-trading positions, on the other hand, would have been overstated by CHF 20 million.