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Consolidated Financial Report |
EXPLANATORY NOTES
2014 Annual Report
Prysmian Group
190
Other receivables
“Prepaid finance costs”, of Euro 8 million at 31 December
2014, refer to prepaid expenses in connection with the Group’s
Revolving Credit Facilities, of which Euro 3 million classified
as current assets and Euro 5 million classified as non-current
assets. These prepaid expenses relate to the Revolving Credit
Facilities 2011, the Revolving Credit Facilities 2014 and the
Syndicated Revolving Credit Facility 2014. The corresponding
figure for prepaid finance costs at 31 December 2013 was
Euro 5 million, all of which classified as current assets in
connection with the Revolving Credit Facilities 2010 and the
Revolving Credit Facilities 2011.
“Construction contracts” represent the value of contracts in
progress, determined as the difference between the costs
incurred plus the related profit margin, net of recognised
losses, and the amount invoiced by the Group.
The following table shows how these amounts are reported
between assets and liabilities:
31 December 2014
31 December 2013 (*)
Construction contract revenue to date
4,277
3,361
Amounts invoiced
(4,116)
(3,041)
Net amount receivable from customers for construction contracts
161
320
Of which:
Other receivables for construction contracts
447
475
Other payables for construction contracts
(286)
(155)
(*) The previously published prior year consolidated financial statements have been restated following the adoption of IFRS 10 and IFRS 11. Further details can
be found in Section C. Restatement of comparative figures.
The following table shows the revenue and costs incurred in 2014 and 2013:
2014
2013 (*)
Revenue
837
912
Costs
(722)
(709)
Gross margin
115
203
(*) The previously published prior year consolidated financial statements have been restated following the adoption of IFRS 10 and IFRS 11. Further details can
be found in Section C. Restatement of comparative figures.
(in millions of Euro)
(in millions of Euro)