197 348
197
11.
SHARE CAPITAL AND RESERVES
Consolidated equity is the same as at 31 December 2013,
mainly reflecting the effect of:
• positive currency translation differences of Euro 32million;
• the release of a positive Euro 3 million, net of tax, from the
cash flow hedge reserve as a result of discontinuing cash
flow hedge accounting, following early repayment of the
Term Loan Facility 2010;
• the negative post-tax change of Euro 6 million in the fair
value of derivatives designated as cash flow hedges;
• the positive change of Euro 3 million in the share-based
compensation reserve linked to the stock option plan;
• the negative change of Euro 31 million in the reserve for
actuarial gains on employee benefits;
• the negative change of Euro 6 million in the scope of
consolidation due to the acquisition of the remaining 34%
of AS Draka Keila Cables;
• the purchase of treasury shares for Euro 20 million;
• the net profit for the year of Euro 115 million;
• the distribution of Euro 90 million in dividends.
At 31 December 2014, the share capital of Prysmian S.p.A.
comprises 216,712,397 shares with a total value of Euro
21,671,239.70.
Movements in the ordinary shares and treasury shares of
Prysmian S.p.A. are reported in the following table:
Ordinary shares
Treasury shares
Total
Balance at 31 December 2012
214,508,781
(3,039,169)
211,469,612
Capital increase
(1)
82,929
-
82,929
Treasury shares
-
-
-
Balance at 31 December 2013
214,591,710
(3,039,169)
211,552,541
Ordinary shares
Treasury shares
Total
Balance at 31 December 2013
214,591,710
(3,039,169)
211,552,541
Capital increase
(2)
2,120,687
-
2,120,687
Treasury shares
(3)
-
208,851
208,851
Balance at 31 December 2014
216,712,397
(2,830,318)
213,882,079
(1) Capital increase following exercise of part of the options under the Stock Option Plan 2007-2012.
(2) Capital increase following exercise of the options under the Long-term incentive plan 2011-2013.
(3) The movement in treasury shares reflects the allotment of 187,299 shares under the Group employee share purchase plan (YES Plan), the allotment of
1,411,552 shares under the Long-term incentive plan 2011-2013, and the purchase of 1,390,000 shares.