Consolidated and Separate Financial Statements

The report describes Saras Group's 2011 performance amid difficult European refining conditions, with Group revenues of EUR 11,037 million. Project Focus delivered approximately EUR 23 million in cost savings and was extended into planning and supply and trading. Unfavorable wind conditions contributed to wind electricity production falling 20% to 140,897 MWh. These highlights show the year's focus on operating efficiency and the differing performance of its energy activities.