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Parent Company Financial Report |
DIRECTORS’ REPORT
2014 Annual Report
Prysmian Group
264
FINANCIAL PERFORMANCE
OF PRYSMIAN S.P.A.
The tables presented and discussed belowhave been prepared
by reclassifying the financial statements at 31 December
2014, which in turn have been drawn up in accordance with
the International Financial Reporting Standards (IFRS) issued
by the International Accounting Standards Board (IASB) and
endorsed by the European Union, and with the provisions
implementing art. 9 of Legislative Decree 38/2005.
As from 1 July 2013, the activities of purchasing strategic
materials (copper, aluminium and lead) from third-party
suppliers and reselling them to the Group's operating
INCOME STATEMENT
companies have been centralised in Prysmian S.p.A.. This
operation is part of the reorganisation of activities within the
Prysmian Group with the goal of having greater control over
what is considered a strategic business for the Group.
Following this centralisation, Prysmian S.p.A.'s "Revenue
from ordinary operations" relates to the sale of strategic
metals to Group operating companies, while "Other income"
primarily refers to services provided and royalties from the
licensing of patents and know-how to Group companies or
even third parties.
2014
2013
Revenue from ordinary operations
1,090,578
452,225
Other income
106,624
102,068
of which non-recurring other income
-
333
Operating costs
(1,130,685)
(501,444)
of which non-recurring income/(expenses)
(2,186)
(2,463)
of which personnel costs for stock option fair value
(496)
(4,599)
Other expenses
(47,348)
(67,031)
of which non-recurring other expenses
17,835
(1,666)
Amortisation, depreciation and impairment
(9,493)
(10,463)
Operating income
9,676
(24,645)
Net finance income/(costs)
(38,862)
(38,775)
of which non-recurring net finance income/(costs)
(1,790)
(2,311)
Net income from investments
204,606
219,861
Profit/(loss) before taxes
175,420
156,441
Income taxes
16,136
28,244
Net profit/(loss) for the year
191,556
184,685
(in thousands of Euro)