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Consolidated Financial Report |
EXPLANATORY NOTES
2014 Annual Report
Prysmian Group
174
2013 (*)
Energy Products
Energy
Telecom Corporate
Total
Projects
Group
E&I Industrial
Other
Total
& NWC
Products
Sales
(1)
2,747
1,788
114
4,649
1,360
986
-
6,995
Adjusted EBITDA before share of net profit/(loss)
of equity-accounted companies
113
141
5
259
232
87
-
578
% of sales
4.1% 7.9%
5.6% 17.0% 8.8%
8.3%
Adjusted EBITDA (A)
127
141
8
276
231
106
-
613
% of sales
4.6% 7.9%
5.9% 17.0% 10.8%
8.8%
EBITDA (B)
122
138
(10)
250
234
86
(7)
563
% of sales
4.4% 7.7%
5.4% 17.2% 8.7%
8.1%
Amortisation and depreciation (C)
(37)
(25)
(4)
(66)
(39)
(43)
-
(148)
Adjusted operating income (A+C)
90
116
4
210
192
63
-
465
% of sales
3.3% 6.5% 3.5% 4.5% 14.1% 6.4%
6.7%
Fair value change in metal derivatives (D)
(8)
Fair value stock options (E)
(14)
Impairment of assets (F)
(11)
(3)
(11)
(25)
Operating income (B+C+D+E+F)
368
% of sales
5.3%
Finance costs
285
Finance income
(435)
Taxes
(65)
Net profit/(loss) for the year
153
% of sales
2.2%
Attributable to:
Owners of the parent
149
Non-controlling interests
4
Reconciliation of EBITDA to ADJUSTED EBITDA
EBITDA (A)
122
138
(10)
250
234
86
(7)
563
Non-recurring expenses/(income):
Company reorganisation
15
3
11
29
4
13
4
50
Antitrust
-
-
-
-
(6)
-
-
(6)
Environmental remediation and other costs
-
1
(4)
(3)
-
-
-
(3)
Gains on asset disposals
(1)
(1)
-
(2)
(2)
(1)
-
(5)
Other net non-recurring expenses
(9)
-
11
2
1
8
3
14
Total non-recurring expenses/(income) (B)
5
3
18
26
(3)
20
7
50
Adjusted EBITDA (A+B)
127
141
8
276
231
106
-
613
(*) The previously published prior year comparative figures have been restated following the introduction of IFRS 10 and IFRS 11 and a new method of classifying
the share of net profit /(loss) of associates and joint ventures. Further details can be found in Section C. Restatement of comparative figures.
(1) Sales of the operating segments and business areas are reported net of intercompany transactions and net of transactions between operating segments,
consistent with the presentation adopted in the previous years.
(in millions of Euro)