Adjusted net profit (on a current cost of supplies basis) rose 1.6% to 631 million euros ($830.7 million), despite the 2012 first-quarter still including full earnings from YPF, which was partially expropriated by Argentina last May.
Excluding YPF earnings of 163 million euros, net profit reflected a 38% improvement on last year.
Operating income from continued operations also increased by 19% to 1.29
