2. Results for the first nine months of 2012
2012 2011 (EURm) (9 months) (9 months) % change Premium income 19,394.0 22,570.4 -14.1% Change in average technical reserves (excluding deferred participation) 291,568 284,895 +2.3% Net insurance revenue* 2,283 2,191 +4.2% - Expenses 661 666 -0.7% EBIT 1,622 1,525 +6.3% - Finance costs (115) (109) +5.7% - Income tax expense (531) (468) +13.5% - Minority interests (220) (193) +14.4% Attributable recurring profit 755 756 -0.1% Net realised gains on equities and investment property 93 (174) - Fair value adjustments to trading securities 143 (32) - Non-recurring items (209) 0 - Attributable net profit 783 550 +42.3%*Net insurance revenue at constant exchange rates: up 7.9% Net insurance revenue rose 4.2% in the first nine months of 2012 compared with the year-earlier period. In France, net insurance revenue (excluding own-funds portfolios) was down 7.9% due to non-recurring factors . The underlying change was an increase of 5.2%. Net insurance revenue from international operations rose 12.9% despite the negative currency effect in Brazil. Their contribution to total net insurance revenue (excluding own-funds portfolios) was 50% for the first nine months of 2012 versus 45% for the same period of 2011. Expenses decreased by 0.7%. In France, expenses were down by 2.8%, while in international operations expenses rose compared with the first nine months of 2011, mainly in Brazil due to the costs of growing the business and amortizing strategic projects. EBIT rose 6.3%. Subsidiaries outside France accounted for 44% of the total, helped by an increased contribution from Caixa Seguros. Net capital gains generated under the multi-year profit taking programme concerned equities and investment property and amounted to €93 million. Fair value adjustments to trading securities represented a positive €143 million. Profit for the period was adversely affected by net non-recurring expenses of €209 million, corresponding mainly to transfers to the policyholders' surplus reserve. Net profit attributable to equity holders of the parent for the first nine months of 2012 amounted to €783 million, an increase of 42.3% on the year-earlier period.