2014 ANNUAL REPORT

Consolidated Financial Report |

DIRECTORS’ REPORT

2014 Annual Report

Prysmian Group

110

Oil

Brent crude prices remained largely stable in the first seven

months of 2014, ranging between USD 105 and USD 115; prices

started to fall steadily from August, until reaching USD 57/

barrel at the end of December. Brent crude had an average

price per barrel for the whole of 2014 of USD 100, down 9%

on 2013 (USD 109). Even the price expressed in euros was 9%

lower, declining from Euro 82/barrel in 2013 to Euro 75/barrel

in 2014. Ethylene prices declined more moderately, in the

order of 6%. Even the other principal petroleum derivatives

reported lower prices than in the previous year as a result.

Jan-14

Feb-14

Mar-14

Apr-14

May-14

Jun-14

Jul-14

Aug-14

Set-14

Oct-14

Nov-14

Dec-14

Jan-13

Feb-13

Mar-13

Apr-13

May-13

Jun-13

Jul-13

Aug-13

Set-13

Oct-13

Nov-13

Dec-13

Avg FY

2012

2,500

2,000

1,500

1,000

500

Avg FY

2013

Avg FY

2014

USD

EUR

LEAD

USD

EURO

Source: LME data. Price per tonne

Jan-14

Feb-14

Mar-14

Apr-14

May-14

Jun-14

Jul-14

Aug-14

Set-14

Oct-14

Nov-14

Dec-14

Jan-13

Feb-13

Mar-13

Apr-13

May-13

Jun-13

Jul-13

Aug-13

Set-13

Oct-13

Nov-13

Dec-13

Avg FY

2012

140

120

100

Avg FY

2013

Avg FY

2014

USD

EUR

BRENT

USD

EURO

Source: ICE data. Price per barrel

Lead

The average price per tonne of lead on the London Metal

Exchange was USD 2,096 (Euro 1,578) in 2014, down 2% in

both USD and Euro terms on the previous year.